XML 16 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net loss $ (3,243,237) $ (4,528,002)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation of property and equipment 292,214 355,348
Amortization of intangible assets 1,263,564 1,263,563
Loss on disposal of property and equipment 17,074
Stock-based compensation expense 1,205,682 1,033,143
Reconciliation of shares issued in stock-based compensation arrangement 1
Common stock issued for services 19,800
Cancellation of common stock (1,716)
Bad debt expense 8,552 79,486
Digital tokens received as payment for services (3,368,127)
Impairment loss on digital tokens 2,535,235
Changes in operating assets and liabilities:    
Credit card holdback receivable 41,146 14,919
Accounts receivable 144,306 349,616
Prepaid expenses and other current assets (274,858) 574,799
Other assets and other receivables 33,676 25,136
Accounts payable, accrued expenses and other current liabilities 215,732 575,510
Deferred subscription revenue (380,536) (438,953)
Deferred technology service revenue 4,827,765
Net cash provided by (used in) operating activities 3,301,115 (660,277)
Cash flows from investing activities:    
Purchases of property and equipment (249,021) (214,277)
Return of Security Deposit 75,000
Net cash used in investing activities (249,021) (139,277)
Cash flows from financing activities:    
Payments of capital lease obligations (62,775)
Proceeds from issuance of common stock for stock option exercises 28,210
Net cash provided by (used in) financing activities 28,210 (62,775)
Net increase (decrease) in cash and cash equivalents 3,080,304 (862,329)
Balance of cash and cash equivalents at beginning of period 4,137,050 4,162,596
Balance of cash and cash equivalents at end of period 7,217,354 3,300,267
Supplemental disclosure of cash flow information:    
Cash paid in interest 12,899
Cash paid for income taxes $ 26,210