XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Subscription revenue $ 4,984,602 $ 5,742,707 $ 10,411,225 $ 11,966,391
Advertising revenue 314,753 496,882 636,180 992,149
Technology service revenue 2,092,032 2,092,032
Total revenues 7,391,387 6,239,589 13,139,437 12,958,540
Costs and expenses:        
Cost of revenue 1,379,706 1,242,819 2,391,733 2,524,324
Sales and marketing expense 1,492,875 2,135,951 2,882,867 4,366,443
Product development expense 1,924,898 2,206,440 4,073,813 4,417,785
General and administrative expense 2,500,791 2,116,498 4,509,500 4,186,625
Total costs and expenses 7,298,270 7,701,708 13,857,913 15,495,177
Income (loss) from operations 93,117 (1,462,119) (718,476) (2,536,637)
Interest income (expense), net 16,772 (4,845) 19,710 31,968
Other (expense) income, net (18,000) (18,000)
Changes in fair value of digital tokens (1,959,404) (1,959,404)
Loss before provision for income taxes (1,849,515) (1,484,964) (2,658,170) (2,522,669)
Provision for income taxes (15,500) (15,500)
Net loss $ (1,865,015) $ (1,484,964) $ (2,673,670) $ (2,522,669)
Net loss per share of common stock:        
Basic and diluted $ (0.27) $ (0.22) $ (0.39) $ (0.38)
Weighted average number of shares of common stock used in calculating net loss per share of common stock:        
Basic and diluted 6,882,316 6,715,574 6,882,316 6,715,246