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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
[1]
Operating activities:    
Net income for the period $ 3,743,692 $ 2,446,491 [2]
Items not involving cash:    
Depreciation of property and equipment 1,232,215 756,664
Amortization of debt discount and issuance costs 69,533 67,105
Amortization of intangible assets 2,330,762 1,760,971
Change in capitalized contract costs 25,272
Deferred income taxes (recovery) (47,034) 1,199,661
Excess tax benefits on share-based compensation expense (143,969) (989,332)
Amortization of deferred rent 165 4,032
Loss on disposal of domain names 37,478 9,789
Other income (128,820) (128,820)
Loss (gain) on change in the fair value of forward contracts (3,093) (17,949)
Stock-based compensation 578,182 317,820
Change in non-cash operating working capital:    
Accounts receivable (309,036) 41,721
Inventory 45,863 170,996
Prepaid expenses and deposits (525,316) (3,557,508)
Prepaid domain name registry and ancillary services fees 11,343,820 (5,489,422)
Income taxes recoverable 264,829 (2,660,528)
Accounts payable 2,132,453 (3,446,427)
Accrued liabilities 758,897 1,830,922
Customer deposits (2,274,978) (83,591)
Deferred revenue (9,598,210) 10,240,649
Accreditation fees payable 40,078 (71,327)
Net cash provided by operating activities 9,572,783 2,401,917
Financing activities:    
Proceeds received on exercise of stock options 7,201 19,869
Payment of tax obligations resulting from net exercise of stock options (147,068) (712,234)
Proceeds received on loan payable 86,998,000
Repayment of loan payable (4,571,843) (6,258,278)
Payment of loan payable costs (4,125) (591,175)
Net cash (used in) provided by financing activities (4,715,835) 79,456,182
Investing activities:    
Additions to property and equipment (5,116,854) (3,692,893)
Acquisition of a portion of the minority interest in Ting Virginia, LLC (note 4(a)) (1,200,000) (2,000,000)
Acquisition of Enom Incorporated, net of cash (note 4(b)) (76,237,460)
Acquisition of intangible assets (1,372)
Net cash (used in) investing activities (6,318,226) (81,930,353)
Decrease in cash and cash equivalents (1,461,278) (72,254)
Cash and cash equivalents, beginning of period 18,049,164 [3] 15,105,075
Cash and cash equivalents, end of period 16,587,886 15,032,821
Supplemental cash flow information:    
Interest paid 901,344 872,645
Income taxes paid, net 1,337,123 2,342,916
Supplementary disclosure of non-cash investing and financing activities:    
Property and equipment acquired during the period not yet paid for $ 397,661 $ 250,847
[1] The Company has initially applied ASC 2014-09 (Topic 606) using the modified retrospective method. Under this method, the comparative information is not restated.
[2] The Company has initially applied ASC 2014-09 (Topic 606) using the modified retrospective method. Under this method, the comparative information is not restated.
[3] The Company has initially applied ASC 2014-09 (Topic 606) using the modified retrospective method. Under this method, the comparative information is not restated.