Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.20.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]    
Net revenue $ 61,525,214 $ 73,330,642
Cost of revenue 22,700,873 29,921,482
Gross profit 38,824,341 43,409,160
Operating expenses    
Marketing costs (Traffic Acquisition Costs-TAC) 30,135,991 31,852,190
Compensation 7,753,528 8,524,476
Selling, general and administrative 8,673,015 8,502,874
Total operating expenses 46,562,534 48,879,540
Operating loss (7,738,193) (5,470,380)
Interest expense, net (482,210) (420,452)
Other income, net 3,397,902 0
Loss from continuing operations before taxes (4,822,501) (5,890,832)
Income tax benefit 334,394 0
Net loss $ (4,488,107) $ (5,890,832)
Per common share data: Basic and Diluted    
Net loss (in usd per share) $ (0.11) $ (0.19)
Weighted average shares    
Basic (in shares) 40,454,779 31,019,623
Diluted (in shares) 40,454,779 31,019,623