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Ebyline Acquisition (Details 1) - USD ($) |  | 12 Months Ended |
--- | --- | --- | ---
Jan. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014
Business Acquisition [Line Items] |  |  |  |
Current portion of acquisition costs payable |  |  |  | $ 0
Acquisition costs payable, less current portion |  |  |  | $ 0
Ebyline, Inc. [Member] |  |  |  |
Business Acquisition [Line Items] |  |  |  |
Payments to Acquire Businesses, Gross |  | $ 1,200,000 |  |
Business combination, consideration transferred |  | 5,016,939 |  |
Current portion of acquisition costs payable |  |  | $ 844,931 |
Acquisition costs payable, less current portion |  |  | 889,080 |
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Costs |  | 5,500,000 | 1,734,011 |
Estimated Gross Purchase Consideration [Member] | Ebyline, Inc. [Member] |  |  |  |
Business Acquisition [Line Items] |  |  |  |
Payments to Acquire Businesses, Gross |  | 1,200,000 |  |
Present Value of the Guaranteed Purchase Price | [1] | 2,127,064 |  |
Fair Value of Contingent Performance Payments | [2] | 2,210,000 | 1,834,300 |
Business combination, consideration transferred |  | 5,537,064 |  |
Initial Present Value [Member] | Ebyline, Inc. [Member] |  |  |  |
Business Acquisition [Line Items] |  |  |  |
Payments to Acquire Businesses, Gross |  | 1,200,000 |  |
Present Value of the Guaranteed Purchase Price | [1] | 1,982,639 |  |
Fair Value of Contingent Performance Payments | [2] | 1,834,300 |  |
Business combination, consideration transferred |  | $ 5,016,939 |  |
Remaining Present and Fair Value [Member] | Ebyline, Inc. [Member] |  |  |  |
Business Acquisition [Line Items] |  |  |  |
Payments to Acquire Businesses, Gross |  |  | 0 |
Present Value of the Guaranteed Purchase Price | [1] |  | 1,823,711 |
Fair Value of Contingent Performance Payments |  |  | 0 |
Acquisition Costs Paid by the Acquiree Shareholders | [3] |  | (89,700) |
Business combination, consideration transferred |  |  | $ 1,734,011 |
[1] | The guaranteed purchase price consideration, as detailed above, was discounted to present value using our current borrowing rate of prime plus 2% (5.25%). Interest expense imputed on the acquisition costs payable in the accompanying consolidated statements of operations was $91,072 for the twelve months ended December 31, 2015. Per the Stock Purchase Agreement, the Company issued 31,821 shares of its common stock valued at $250,000 to satisfy a portion of the guaranteed purchase price payment obligation on July 30, 2015.
[2] | The fair value of the $5,500,000 of contingent performance payments described above was calculated using a Monte-Carlo simulation to simulate revenue over the next three years. Since the contingent consideration has an option like structure, a risk-neutral framework is considered appropriate for the valuation. The Company started with a risk-adjusted measure of forecasted revenue (using a risk-adjusted discount rate of 8.5%) and assumed it will follow geometric brownian motion to simulate the revenue at future dates. Once the initial revenue was estimated based off of projections made during the acquisition, payout was calculated for each year and present valued to incorporate the credit risk associated with these payments. The Company's initial value conclusion was based on the average payment from 100,000 simulation trials. The volatility used for the simulation was 35%. The Monte Carlo simulation resulted in a calculated fair value of contingent performance payments of $2,210,000 on January 30, 2015. Because the contingent performance payments are subject to a 17% reduction related to the continued employment of certain key employees, ASC 805-10-55-25 indicates that a portion of these payments be treated as potential compensation to be accrued over the term rather than allocated to the purchase price. Therefore, the Company reduced its overall purchase price consideration by $357,700 and recorded the initial present value of the contingent performance payments at $1,834,300. Based on actual results for 2015 and current projections for Content Revenue for 2016-2017, the Content Revenue for every year is expected to be below 90% of the required Content Revenues targets. Therefore, the Company estimated the fair value of contingent performance payments at $0 as of December 31, 2015. The gain as a result of the decrease in the estimated fair value of contingent performance payments of $1,834,300 is recorded as a reduction of general and administrative expense in the Company's statements of operations during the twelve months ended December 31, 2015.
[3] | According to the stock purchase agreement, certain acquisition costs paid by Ebyline during the acquisition process are to be paid by the selling shareholders. These costs will be deducted from the guaranteed payment on January 30, 2016.

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