Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Net revenue $ 18,271,181 $ 15,648,912 $ 35,487,043 $ 34,379,361
Cost of revenue 7,620,743 3,971,086 15,512,466 8,256,356
Gross profit 10,650,438 11,677,826 19,974,577 26,123,005
Operating expenses        
Marketing costs 7,493,273 9,408,411 13,960,584 20,474,077
Compensation 2,301,696 1,577,950 4,689,407 3,322,718
Selling, general and administrative 2,165,180 1,298,310 4,283,298 2,530,048
Total operating expenses 11,960,149 12,284,671 22,933,289 26,326,843
Operating loss (1,309,711) (606,845) (2,958,712) (203,838)
Interest expense, net (72,660) (22,447) (115,604) (46,055)
Loss from continuing operations before taxes (1,382,371) (629,292) (3,074,316) (249,893)
Income tax expense 0 56,221 0 48,986
Net loss from continuing operations (1,382,371) (573,071) (3,074,316) (200,907)
Net (loss) income from discontinued operations 0 (1,757) (1,109) 353
Net loss $ (1,382,371) $ (574,828) $ (3,075,425) $ (200,554)
Per common share data: Basic and diluted        
Net loss from continuing operations (in usd per share) $ (0.05) $ (0.02) $ (0.11) $ (0.01)
Net (loss) income from discontinued operations (in usd per share) 0.00 0.00 0.00 0.00
Net loss (in usd per share) $ (0.05) $ (0.02) $ (0.11) $ (0.01)
Weighted average shares        
Basic (in shares) 28,486,809 24,567,752 27,764,613 24,474,474
Diluted (in shares) 28,486,809 24,567,752 27,764,613 24,474,474