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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Operating activities:        
Net income for the period $ 3,439,266 $ 4,741,279 $ 11,127,241 $ 13,250,303
Items not involving cash:        
Depreciation of property and equipment 978,079 457,433 2,614,065 1,305,296
Loss on write off of property and equipment 8,157 16,951
Amortization of debt discount and issuance costs 56,559 8,298 203,871 8,298
Amortization of intangible assets 2,244,955 292,547 6,069,817 649,526
Impairment of indefinite life intangible asset 1,500 2,866 1,500 27,745
Deferred income taxes (1,445,241) 926,733 (3,010,795) 1,630,076
Excess tax benefits on share-based compensation expense (443,718) 268,565 (2,614,804) 714,764
Amortization of deferred rent 63 13,783 5,547 30,447
Loss on disposal of domain names 7,896 4,760 24,661 25,581
Other income (128,820) (128,820) (386,460) (386,460)
Loss (gain) on change in the fair value of forward contracts 1,053 (20,114) (37,103) (292,133)
Stock-based compensation 202,902 195,439 833,987 585,854
Change in non-cash operating working capital:        
Accounts receivable 533,900 (1,623,719) (330,070) (4,435,250)
Inventory (642,738) (217,741) (1,738,383) (598,658)
Prepaid expenses and deposits 201,757 419,939 (2,169,319) (939,935)
Prepaid domain name registry and ancillary services fees 3,083,506 (1,271,948) 570,338 (5,170,911)
Income taxes recoverable 2,225,254 363,244 1,815,420 1,553,524
Accounts payable (643,327) 681,303 (4,681,314) (1,993)
Accrued liabilities 981,046 (581,495) 994,402 (1,429,069)
Customer deposits (1,904,666) (943,579) 1,163,305 90,970
Deferred revenue (1,424,673) 1,666,291 7,543,013 6,772,663
Accreditation fees payable (50,302) 14,059 (199,832) 51,215
Net cash provided by operating activities 7,282,408 5,269,123 17,816,038 13,441,853
Financing activities:        
Proceeds received on exercise of stock options 68,065 48,376 172,903 107,672
Payment of tax obligations resulting from net exercise of stock options (116,956) (76,537) (1,438,497) (318,770)
Repurchase of common stock (7,180,257)
Proceeds received on loan payable 10,989,583 86,998,000 16,989,583
Repayment of loan payable (4,572,640) (9,062,500) (15,403,380) (9,500,000)
Payment of loan payable costs (16,463) (383,463) (620,217) (516,963)
Net cash provided by (used in) financing activities (4,637,994) 1,515,459 69,708,809 (418,735)
Investing activities:        
Additions to property and equipment (2,859,036) (2,091,368) (9,461,105) (3,923,105)
Acquisition of a portion of the minority interest in Ting Virginia, LLC (note 4(a)) (2,000,000)
Acquisition of Enom Incorporated, net of cash (note 4(b)) (76,237,460)
Acquisition of intangible assets (2,384,298) (74,400) (2,384,298) (6,324,970)
Net cash used in investing activities (5,243,334) (2,165,768) (90,082,863) (10,248,075)
Increase (decrease) in cash and cash equivalents (2,598,920) 4,618,814 (2,558,016) 2,775,043
Cash and cash equivalents, beginning of period 15,145,979 5,879,482 15,105,075 7,723,253
Cash and cash equivalents, end of period 12,547,059 10,498,296 12,547,059 10,498,296
Supplemental cash flow information:        
Interest paid 869,749 93,560 2,717,378 260,506
Income taxes paid, net 1,307,727 927,826 6,313,308 2,507,699
Supplementary disclosure of non-cash investing and financing activities:        
Property and equipment acquired during the period not yet paid for $ 186,418 $ 89,860 $ 186,418 $ 89,860