XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.7.0.1

ACCRUED EXPENSES | 3 Months Ended
--- | ---
Mar. 31, 2017
Payables and Accruals [Abstract] |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 7. ACCRUED EXPENSES At March 31, 2017 and December 31, 2016, accrued expenses amounted to $5,366,887 and $5,518,823, respectively. Accrued expenses represent expenses that are owed at the end of the period and have not been billed by the provider or are estimates of services provided. The following table details the items comprising the balances outstanding at March 31, 2017 and December 31, 2016.
|  | March 31, 2017 |  | December 31, 2016 |
Accrued professional fees |  | $ | 317,033 |  | $ | 220,140 |
PayOnline accrual |  |  | 3,509,256 |  |  | 3,784,451 |
Accrued interest |  |  | 148,854 |  |  | 183,778 |
Accrued bonus |  |  | 1,130,511 |  |  | 774,485 |
Accrued franchise taxes |  |  | - |  |  | 180,000 |
Accrued foreign taxes |  |  | 135,684 |  |  | 131,810 |
Short term loan advances |  |  | 80,397 |  |  | 174,376 |
Other accrued expenses |  |  | 45,152 |  |  | 69,783 |
|  | $ | 5,366,887 |  | $ | 5,518,823 |
The accrual for PayOnline at March 31, 2017 consists of a $0.3 million earn-out accrual and a $1.8 million stock price guarantee obligation pursuant to a settlement agreement entered into in connection with the PayOnline acquisition. Additionally, the accrual includes a $1.4 million obligation for refundable merchant reserves assumed pursuant to an amendment to the PayOnline acquisition agreement. See Note 11 for additional information. The accrual for PayOnline at December 31, 2016 consists of a $0.3 million earn-out accrual and a $2.0 million stock price guarantee obligation pursuant to a settlement agreement entered into in connection with the PayOnline acquisition. Additionally, the accrual includes a $1.4 million obligation for refundable merchant reserves assumed pursuant to an amendment to the PayOnline acquisition agreement. Accrued bonuses are attributed to our TOT Group subsidiaries resulting from a discretionary bonus accrual for $1,130,511 and $774,485 at March 31, 2017 and December 31, 2016, respectively.

X
- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_PayablesAndAccrualsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration