General form of registration statement for all companies including face-amount certificate companies

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.3.0.814
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended 12 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Dec. 31, 2013
OPERATING ACTIVITIES:        
Net loss $ (2,653,288) $ (673,073) $ (4,509,250) $ (177,996)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization 2,361,924 541,121 2,791,368 948,531
Deferred rent (5,200) 4,277 9,088 28,735
Deferred revenue (17,476) (22,563) (31,283) (9,174)
Deferred income taxes 0 (320,507) 153,364 106,988
Provision for doubtful accounts 68,872 34,810 169,299 (32,824)
Foreign exchange (gain) loss (86,446) 221,554 123,210 (196,582)
Forgiveness of advance to shareholder     0 69,208
Gain from reduction in referral fee 0 (105,523) (105,523) 0
Gain on disposal of assets     (286) (13,001)
Interest accretion on convertible promissory note 0 23,534 77,263 0
Stock-based compensation expense 324,258 62,154 258,878 0
Change in contingent consideration (915,815) 0 (1,811,362) 0
Accrued CastleRock settlement payment (110,000) 0    
Other 0 1,921 (13,234) 10,571
Changes in operating assets and liabilities:        
Accounts receivable 301,567 185,442 (2,167,193) (22,164)
Other assets 80,942 (60,233) 72,235 26,698
Accounts payable and other liabilities (802,063) 208,949 2,283,237 189,978
Net cash (used in) provided by operating activities (1,452,725) 101,863 (2,700,189) 928,968
INVESTING ACTIVITIES:        
Capital expenditures (201,945) (102,325) (1,116,192) (286,505)
Acquisition of customer contracts and relationships (59,358) 0 (11,536,638) (275,000)
Advances to majority shareholder 0 (2,522) (2,494) (381,721)
Repayment of advances to majority shareholder 0 1,000 2,494 227,721
Proceeds from sale of assets     0 9,214
Net cash used in investing activities (261,303) (103,847) (12,652,830) (706,291)
FINANCING ACTIVITIES:        
Proceeds from IPO of common stock, net of costs in 2014 and 2013     17,167,294 0
Proceeds from note payable to majority shareholder 0 165,000 165,000 1,000,000
Repayments of note payable to majority shareholder 0 (115,000) (430,591) (115,319)
Repayments of notes payable - other (486,180) (600,246) (1,222,884) (912,642)
Proceeds from line of credit 5,856,810 1,485,000 5,725,446 4,907,985
Repayments of line of credit (4,071,810) (1,285,000) (5,525,446) (4,464,297)
Proceeds from notes payable - convertible note     0 500,000
IPO-related costs 0 (96,542) 0 (882,725)
Net cash provided by (used in) financing activities 1,298,820 (446,788) 15,878,819 33,002
EFFECT OF EXCHANGE RATE CHANGES ON CASH (1,420) (16,651) 24,916 (26,058)
NET DECREASE IN CASH (416,628) (465,423) 550,716 229,621
CASH - Beginning of the year 1,048,660 497,944 497,944 268,323
CASH - End of the year 632,032 32,521 1,048,660 497,944
SUPPLEMENTAL NONCASH INVESTING AND FINANCING ACTIVITIES:        
Acquisition through issuance of promissory note     0 1,225,000
Contingent consideration resulting from acquisitions     4,437,685 0
Equity resulting from acquisitions     1,601,677 0
Conversion of note to common stock     587,835 0
Vehicle financing obtained 35,965 0 78,421 6,419
Purchase of prepaid insurance through assumption of note 0 36,640 486,858 0
Accrued IPO-related costs 0 457,298 0 430,125
SUPPLEMENTAL INFORMATION - Cash paid during the year for:        
Income taxes 9,759 5,230 5,230 22,000
Interest $ 109,937 $ 108,094 $ 147,192 $ 155,433