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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities:    
Net loss $ (2,240,721) $ (3,075,425)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,577,060 1,434,867
Stock based compensation 667,797 586,159
Amortization of financing fees 12,800 12,800
(Recovery) Provision of doubtful accounts (10,062) 141,000
Adjustment of European liabilities related to discontinued operations 0 1,109
Change in operating assets and liabilities:    
Accounts receivable 3,180,181 2,059,830
Accrued expenses and other liabilities 72,605 (555,679)
Prepaid expenses and other current assets 8,216 (15,249)
Accounts payable (3,422,114) (3,428,398)
Net cash used in operating activities (154,238) (2,838,986)
Investing activities:    
Purchases of equipment and capitalized development costs (941,636) (620,698)
Net cash received from 2017 asset acquisition 0 235,763
Net cash used in investing activities (941,636) (384,935)
Financing activities:    
Proceeds from sale of common stock 2,134,162 0
Net (payments) proceeds on revolving credit line (900,000) 5,000,000
Payments on capital leases (105,586) (26,595)
Payoff of 2017 asset acquisition debt acquired 0 (2,015,577)
Net cash provided by financing activities 1,128,576 2,957,828
Net change – cash 32,702 (266,093)
Cash, beginning of year 4,084,686 3,946,804
Cash, end of period 4,117,388 3,680,711
Supplemental information:    
Interest paid 183,894 105,062
Non cash investing and financing activities:    
2017 asset acquisition stock issuance (See Note 13) 0 4,459,244
Write-down of domain names and corresponding contingent liability $ 0 $ 222,477

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