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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Operating activities:        
Net income for the period $ 5,241,484 $ 4,070,786 $ 7,687,975 $ 8,509,024
Items not involving cash:        
Depreciation of property and equipment 879,322 427,842 1,635,986 847,863
Loss on write off of property and equipment 8,794 8,794
Amortization of debt discount and issuance costs 80,207 147,312
Amortization of intangible assets 2,063,891 288,450 3,824,862 356,979
Impairment of indefinite life intangible asset 3,894 24,879
Deferred income taxes (2,885,373) 430,184 (1,565,554) 703,343
Excess tax benefits on share-based compensation expense (1,181,754) 384,839 (2,171,086) 446,199
Amortization of deferred rent 1,452 4,749 5,484 16,664
Loss on disposal of domain names 6,976 12,601 16,765 20,821
Other income (128,820) (128,820) (257,640) (257,640)
Loss (gain) on change in the fair value of forward contracts (162,813) (28,977) (300,920) (272,019)
Stock-based compensation 313,265 190,187 631,085 390,415
Change in non-cash operating working capital:        
Accounts receivable (905,691) (1,921,021) (863,970) (2,811,531)
Inventory (1,266,641) (141,830) (1,095,645) (380,917)
Prepaid expenses and deposits 1,186,432 (1,106,950) (2,371,076) (1,359,874)
Prepaid domain name registry and ancillary services fees 2,976,254 (3,101,043) (2,513,168) (3,898,963)
Income taxes recoverable 2,513,458 (36,174) (147,070) 1,190,280
Accounts payable (591,560) (1,233,092) (4,037,987) (683,296)
Accrued liabilities (1,817,566) (396,328) 13,356 (847,574)
Customer deposits 3,151,562 1,214,472 3,067,971 1,034,549
Deferred revenue (1,272,963) 3,597,790 8,967,686 5,106,372
Accreditation fees payable (78,203) 26,537 (149,530) 37,156
Net cash provided by operating activities 8,131,713 2,558,096 10,533,630 8,172,730
Financing activities:        
Proceeds received on exercise of stock options 84,969 37,209 104,838 56,767
Payment of tax obligations resulting from net exercise of stock options (609,307) (203,019) (1,321,541) (239,704)
Repurchase of common stock (4,999,978) (7,180,257)
Proceeds received on loan payable 86,998,000 6,000,000
Repayment of loan payable (4,572,462) (218,750) (10,830,740) (437,500)
Payment of loan payable costs (12,579) (133,500) (603,754) (133,500)
Net cash provided by (used in) financing activities (5,109,379) (5,518,038) 74,346,803 (1,934,194)
Investing activities:        
Additions to property and equipment (2,909,176) (6,602,069)
Gross proceeds from the waiver of rights to .online registry (975,401) (1,831,737)
Acquisition of a portion of the minority interest in Ting Virginia, LLC. (2,000,000)
Acquisition of Enom Incorporated, net of cash (note 4(b)) (76,237,460)
Acquisition of intangible assets (196,024) (6,250,570)
Net cash used in investing activities (2,909,176) (1,171,425) (84,839,529) (8,082,307)
Increase (decrease) in cash and cash equivalents 113,158 (4,131,367) 40,904 (1,843,771)
Cash and cash equivalents, beginning of period 15,032,821 10,010,849 15,105,075 7,723,253
Cash and cash equivalents, end of period 15,145,979 5,879,482 15,145,979 5,879,482
Supplemental cash flow information:        
Interest paid 974,984 120,566 1,847,629 166,947
Income taxes paid, net 2,662,666 1,274,739 5,005,582 1,591,959
Supplementary disclosure of non-cash investing and financing activities:        
Property and equipment acquired during the period not yet paid for $ 232,290 $ 46,632 $ 232,290 $ 46,632