Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 09, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | Helios & Matheson Analytics Inc. | |
Entity Central Index Key | 1,040,792 | |
Trading Symbol | hmny | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 7,071,799 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 1,433,980 | $ 2,747,240 |
Accounts receivable - less allowance for doubtful accounts of $169,196 and $428,719 at June 30, 2017 and December 31, 2016, respectively | 344,207 | 410,106 |
Unbilled receivables | 58,625 | 45,207 |
Prepaid expenses and other current assets | 703,616 | 597,171 |
Total current assets | 2,540,428 | 3,799,724 |
Property and equipment, net | 134,279 | 45,212 |
Intangible assets, net | 5,346,532 | 6,004,691 |
Goodwill | 4,599,969 | 4,599,969 |
Deposits and other assets | 133,230 | 59,189 |
Total assets | 12,754,438 | 14,508,785 |
Current liabilities: | ||
Accounts payable and accrued expenses | 1,605,742 | 1,331,118 |
Convertible notes payable, net of debt discount of $13,697 and $2,200,575 at June 30, 2017 and December 31, 2016, respectively | 164,928 | 31,425 |
Derivative liability | 298,970 | 1,207,792 |
Total current liabilities | 2,069,640 | 2,570,335 |
Total liabilities | 2,069,640 | 2,570,335 |
Commitments and Contingencies | ||
Shareholders' equity: | ||
Preferred stock, $.01 par value; 2,000,000 shares authorized; no shares issued and outstanding as of June 30, 2017 and December 31, 2016 | ||
Common stock, $.01 par value; 100,000,000 shares authorized; 7,071,799 and 4,874,839 issued and outstanding as of June 30, 2017 and December 31, 2016, respectively | 70,718 | 48,748 |
Paid-in capital | 65,700,571 | 55,258,111 |
Accumulated other comprehensive loss - foreign currency translation | (105,702) | (106,991) |
Accumulated deficit | (54,980,789) | (43,261,418) |
Total shareholders' equity | 10,684,798 | 11,938,450 |
Total liabilities and shareholders' equity | $ 12,754,438 | $ 14,508,785 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Allowance for doubtful accounts | $ 169,196 | $ 428,719 |
Convertible notes payable, discount | $ 13,697 | $ 2,200,575 |
Preferred Stock, Par Value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized (in shares) | 2,000,000 | 2,000,000 |
Preferred Stock, Shares Issued (in shares) | 0 | 0 |
Preferred Stock, Shares Outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 7,071,799 | 4,874,839 |
Common stock, shares outstanding (in shares) | 7,071,799 | 4,874,839 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Revenues: | ||||
Revenue | $ 1,140,951 | $ 1,858,186 | $ 2,499,013 | $ 3,887,630 |
Cost of revenue | 917,564 | 1,337,430 | 2,023,049 | 2,792,378 |
Gross profit | 223,387 | 520,756 | 475,964 | 1,095,252 |
Operating expenses: | ||||
Selling, general & administrative | 1,635,710 | 612,756 | 5,780,446 | 1,332,358 |
Research and development | 897,905 | 933,341 | ||
Depreciation & amortization | 433,671 | 3,913 | 864,596 | 7,227 |
Total operating expenses | 2,967,286 | 616,669 | 7,578,383 | 1,339,585 |
Loss from operations | (2,743,899) | (95,913) | (7,102,419) | (244,333) |
Other income/(expense): | ||||
Change in fair market value - derivative liabilities | (301,479) | 680,852 | ||
Interest expense | (2,184,374) | (5,293,206) | ||
Interest income | 19,309 | 2,919 | 37,259 | 3,925 |
Total other (expense)/ income | (2,466,544) | 2,919 | (4,575,095) | 3,925 |
Loss before income taxes | (5,210,443) | (92,994) | (11,677,514) | (240,408) |
Provision for income taxes | 11,373 | 31,247 | 41,857 | 34,247 |
Net loss | (5,221,816) | (124,241) | (11,719,371) | (274,655) |
Other comprehensive income/(loss)-foreign currency adjustment | 466 | (20,097) | 1,289 | (19,541) |
Comprehensive loss | $ (5,221,350) | $ (144,338) | $ (11,718,082) | $ (294,196) |
Net loss per share | ||||
Basic and Diluted (in dollars per share) | $ (0.79) | $ (0.05) | $ (1.97) | $ (0.12) |
Weighted average shares (in shares) | 6,570,637 | 2,330,438 | 5,957,401 | 2,330,438 |
Condensed Consolidated Stateme5
Condensed Consolidated Statement of Shareholders' Equity (Deficit) (Unaudited) - 6 months ended Jun. 30, 2017 - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2016 | $ 48,748 | $ 55,258,111 | $ (106,991) | $ (43,261,418) | $ 11,938,450 | |
Balance (in shares) at Dec. 31, 2016 | 4,874,839 | |||||
Conversion of convertible notes and interest to shares of common stock (in shares) | 1,676,960 | |||||
Conversion of convertible notes and interest to shares of common stock | $ 16,770 | 6,682,632 | 6,699,402 | |||
Shares issued in exchange for services (in shares) | 520,000 | |||||
Shares issued in exchange for services | $ 5,200 | 1,891,200 | 1,896,400 | |||
Derivative liability which ceases to exist | 1,868,628 | 1,868,628 | ||||
Net Loss | (11,719,371) | (11,719,371) | ||||
Foreign Exchange Translation | 1,289 | 1,289 | ||||
Balance (in shares) at Jun. 30, 2017 | 7,071,799 | |||||
Balance at Jun. 30, 2017 | $ 70,718 | $ 65,700,571 | $ (105,702) | $ (54,980,789) | $ 10,684,798 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Loss | $ (11,719,371) | $ (274,655) |
Adjustments to reconcile net loss to net cash (used in)/provided by operating activities: | ||
Depreciation and amortization | 864,596 | 7,227 |
Accretion of debt discount | 3,587,910 | |
Change in fair market value - derivative liabilities | (680,852) | |
Provision for doubtful accounts | 2,005 | (15,931) |
Non-cash interest expense | 965,656 | |
Issuance of Stock and Warrants for Services or Claims | 1,896,400 | |
Change in operating assets and liabilities: | ||
Accounts receivable | 63,894 | 579,825 |
Unbilled receivables | (13,418) | 216,394 |
Prepaid expenses and other current assets | (106,445) | 20,169 |
Accounts payable and accrued expenses | 271,124 | (76,820) |
Deposits and other assets | (70,541) | 33,973 |
Net cash (used in)/provided by operating activities | (4,939,042) | 490,182 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Sale of property and equipment | 958 | 867 |
Purchases of equipment | (101,322) | |
Trendit Ltd patent acquisition | (195,143) | |
Net cash (used in)/provided by investing activities | (295,507) | 867 |
CASH FLOWS PROVIDED BY FINANCING ACTIVITIES: | ||
Proceeds from note payable | 4,000,000 | |
Repayment of September Placement Note | (80,000) | |
Net cash provided by financing activities | 3,920,000 | |
Net change in cash | (1,314,549) | 491,049 |
Effect of foreign currency exchange rate changes on cash and cash equivalents | 1,289 | (19,541) |
Cash, beginning of period | 2,747,240 | 898,477 |
Cash, end of period | 1,433,980 | 1,369,985 |
Supplemental disclosure of cash and non-cash transactions: | ||
Cash paid for income taxes | 5,975 | 2,250 |
Cash paid during the period for interest | 253,407 | |
Conversion of convertible notes and interest to shares of common stock | (6,699,402) | |
Increase in debt for new original issue discount | 1,640,659 | |
Derivative ceases to exist - reclassified to paid in capital | $ (1,868,628) |
Note 1 - General
Note 1 - General | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. The accompanying unaudited interim condensed consolidated financial statements (“interim statements”) of Helios and Matheson Analytics Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10 10 X 1934, not not may December 31, 2016 December 31, 2016. December 31, 2016. |
Note 2 - Change in Controlled C
Note 2 - Change in Controlled Company Status | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Change in Controlled Company Status [Text Block] | 2. Prior to the merger between the Company’s wholly-owned subsidiary, Zone Acquisition, Inc. (“Zone Acquisition”), and Zone Technologies, Inc. (“Zone”), as described below, the Company was a controlled company as defined by Rule 5615 1 75% November 9, 2016, 5615 1 |
Note 3 - Merger with Zone Techn
Note 3 - Merger with Zone Technologies, Inc. | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | 3. On November 9, 2016 ( July 7, 2016, August 25, 2016 September 21, 2016 ( On the Closing Date, the Company issued 1,740,000 0.174 Zone is the developer of the proprietary RedZone Map™, a GPS-driven, real-time crime and navigation map application whose goal is to enhance personal safety worldwide by providing users with real time crime data and a platform for alerting other users to criminal and other safety related occurrences in a navigation map format. Zone’s mapping lets users be pro-active when traveling, allowing them to enter a number of different cautionary items such as traffic problems, police sightings, road hazards, accidents and road closures. It also allows users to report a crime and to video upload live incidents. Zone’s business model has four first second third fourth While RedZone Map is a fully functioning app available for free in the Apple App Store and the Google Play Store, the Company has not The following tables summarize the fair values of the net assets/liabilities assumed and the allocation of the aggregate fair value of the purchase consideration, non–controlling interest and net liabilities to assumed identifiable and unidentifiable intangible assets: Purchase consideration: Common stock (1,740,000 shares at the transaction date fair value of $5.41 per share) $ 9,413,000 Liabilities assumed 1,574,512 Assets acquired (136,343 ) Aggregate fair value of enterprise 10,851,169 Purchase price allocation: Net liabilities assumed (1,488,476 ) Cash acquired 136,343 Total (1,352,133 ) Technology 4,270,000 Broker Relationships 4,200 Trademarks 1,977,000 Goodwill 4,599,969 Total purchase price allocation $ 10,851,169 |
Note 4 - Licensing Agreement wi
Note 4 - Licensing Agreement with Is It You Ltd. | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Research, Development, and Computer Software Disclosure [Text Block] | 4. On May 18, 2017, one $80,000 1.6 1.6 one $20,000 20 20 one $1,000,000 100 100 Of the total $80,000 one $40,000 June 30, 2017. Pursuant to the Agreement, Licensor agreed to not third The Agreement has an initial term of 5 one 60 5 may 30 90 RedZone plans to integrate the facial recognition technology with its real-time crime/navigation app in the latter half of 2017. |
Note 5 - Acquisition of Assets
Note 5 - Acquisition of Assets from Trendit Ltd. | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 5. On May 25, 2017, $195,143. 85% 90%, 15%, The technology acquired collects data from regular cellphone activity, which it tracks and compares with extensive social/economic databases. Zone believes the technology will enable the Redzone Map app to accurately determine crowd size, social/economic status and where a crowd is moving. Zone plans to use this patented, highly-sophisticated analytical technology to alert RedZone Map app users of potential threats to their personal safety and to inform law enforcement and government officials of the location and migration patterns of known criminal or terrorist individuals and groups. RedZone plans to begin integrating Trendit’s patented technology into the RedZone Map app and roll out related new features during the second 2017 |
Note 6 - Going Concern Analysis
Note 6 - Going Concern Analysis | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 6. The Company is subject to a number of risks similar to those of other big data technology and technology consulting companies, including its dependence on key individuals, uncertainty of product development and generation of revenues, dependence on outside sources of capital, risks associated with research, development, testing, and successful protection of intellectual property, and the Company’s susceptibility to infringement on the proprietary rights of others. The attainment of profitable operations is dependent on future events, including obtaining adequate financing to fulfill the Company’s development activities and generating a level of revenues adequate to support the Company's cost structure. The Company has experienced net losses and significant cash outflows from cash used in operating activities over the past years, and as of June 30, 2017, $54,980,789, three six June 30, 2017 $5,221,816 $11,719,371, six June 30, 2017 2016 $4,939,042 $490,182, The Company expects to continue to incur net losses and have significant cash outflows for at least the next twelve June 30, 2017, $1,433,980 $470,788, six June 30, 2017, $4,939,042. Management has evaluated the significance of the conditions described above in relation to the Company’s ability to meet its obligations and concluded that, without additional funding, the Company will not one no The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. This basis of accounting contemplates the recovery of the Company's assets and the satisfaction of liabilities in the normal course of business. A successful transition to attaining profitable operations is dependent upon achieving a level of positive cash flows adequate to support the Company's cost structure. |
Note 7 - Summary of Significant
Note 7 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 7. Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Principles of Consolidation All intercompany transactions and balances have been eliminated. Goodwill Goodwill represents the excess of the purchase price over the fair value of the assets acquired and liabilities assumed. The Company is required to perform impairment reviews at each of its reporting units annually and more frequently in certain circumstances. The Company performs the annual assessment on December 31. In accordance with ASC 350–20 not not not not There were no three six June 30, 2017 2016. Revenue Recognition Consulting revenues are recognized as services are provided. The Company primarily provides consulting services under time and material contracts, whereby revenue is recognized as hours and costs are incurred. Clients for consulting revenues are billed on a weekly or monthly basis. Revenues from fixed fee contracts are recorded when work is performed on the basis of the proportionate performance method, which is based on costs incurred to date relative to total estimated costs. Any anticipated contract losses are estimated and accrued at the time they become known and estimable. Unbilled accounts receivables represent amounts recognized as revenue based on services performed in advance of customer billings. Revenue from sales of software licenses is recognized upon delivery of the software to a customer because future obligations associated with such revenue are insignificant. Research and Development Research and development costs are charged to operations when incurred and are included in operating expenses. Stock Based Compensation The Company uses the fair value method as specified by the FASB, whereby compensation cost is recognized over the remaining service period based on the grant-date fair value of those awards as calculated for pro forma disclosures as originally issued. Fair Value Measurements ASC Topic 820, Fair Value Measurement and Disclosures three may Level 1: Level 2: not Level 3: no The carrying value of the Company's short-term investments, prepaid expenses, accounts receivables, other current assets, accounts payable and accrued liabilities, gaming account balance, and advances from shareholder approximate fair value because of the short-term maturity of these financial instruments. The derivative liability in connection with the conversion feature of the convertible debt and warrants is classified as a level 3 Net Income/(Loss) Per Share Earnings per share (“EPS”) is the amount of earnings attributable to each share of common stock. For convenience, the term is used to refer to either earnings or loss per share. EPS is computed pursuant to Section 260 10 45 260 10 45 10 260 10 45 16, The following table shows the outstanding dilutive common shares excluded from the diluted net loss per share calculation as they were anti-dilutive: June 30, 2017 December 31, 2016 Warrants $ 150,714 $ 70,714 Conversion features on convertible notes 5,484 511,989 Total potentially dilutive shares $ 156,198 $ 582,703 Recent Accounting Pronouncements In May 2014, 2014 09 may August 2015, No. 2015 14, 2014 09 one December 15, 2017. 2014 09 December 31, 2016 2014 09. 2017, During January 2016, No. 2016 01, Financial Instruments — Overall: Recognition and Measurement of Financial Assets and Financial Liabilities 2016 01” December 15, 2017. not In February 2016, 2016 02, Leases, 842” 840, Leases not twelve twelve December 15, 2018, 2016 02 In May 2016, 2016 12, Revenue from Contracts with Customers 606” : Narrow-Scope Improvements and Practical Expedients 2016 12” 2016 12 1 1, 1, 2 3 4 5 not not 6 606 not 606. January 1, 2018, January 1, 2017. 2014 09 December 31, 2016 2014 09. 2017, In August 2016, 2016 15, Statement of Cash Flows 230” : Classification of Certain Cash Receipts and Cash Payments, 2016 15” 2016 15 eight 2016 15 December 15, 2017. 2016 15 In October 2016, 2016 16, Income Taxes 740” : Intra-Entity Transfers of Assets Other than Inventory December 15, 2019, 2016 15 In November 2016, 2016 18, Statement of Cash Flows 230” December 15, 2017 2016 18 In January 2017, 2017 01, Business Combinations 805” : Clarifying the Definition of a Business December 15, 2017, June 30, 2017, In January 2017, 2017 04, Intangibles - Goodwill and Other 350” : Simplifying the Test for Goodwill Impairment second not one zero zero 2020, January 1, 2017. June 30, 2017, In July 2017, 2017 11, Earnings Per Share 260” , Distinguishing Liabilities from Equity 480” , and Derivatives and Hedging 815" No. 2017 11 No. 2017 11 January 1, 2019. No. 2017 11 |
Note 8 - Property and Equipment
Note 8 - Property and Equipment, Net | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 8. Property and equipment, net on June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 Equipment and leaseholds $ 98,587 $ 106,460 Furniture and Fixtures 131,691 34,186 Software 178,066 167,337 Subtotal 408,344 307,983 Less: Accumulated depreciation (274,065 ) (262,771 ) Property and Equipment, net $ 134,279 $ 45,212 |
Note 9 - Intangible Assets, Net
Note 9 - Intangible Assets, Net and Goodwill | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 9. The Company’s intangibles assets consisted of the following on June 30, 2017 December 31, 2016: June 30, 2017 December 31, 2016 Estimated Useful Life Net Book Value Net Book Value Technology 3 $ 4,270,000 $ 4,270,000 Trademarks 7 1,977,000 1,977,000 Broker Relationships 1 4,200 4,200 Patents 1 - 11 195,143 - Subtotal 6,446,343 6,251,200 Less: Accumulated amortization (1,099,811 ) (246,509 ) Intangible assets, net $ 5,346,532 $ 6,004,691 The Company recorded amortization expense of $426,651 $0 three June 30, 2017 2016, $853,302 $0 six June 30, 2017 2016, The following table outlines estimated future annual amortization expense for the next five June 30, Remaining 2017 $ 861,432 2018 1,722,864 2019 1,517,271 2020 299,530 2021 299,409 Thereafter 646,026 Total $ 5,346,532 Goodwill represents the difference between purchase cost and the fair value of net assets acquired in business acquisitions. Goodwill and indefinite lived intangible assets are tested for impairment annually as of December 31 st Balance as of December 31, 2016 $ 4,599,969 Goodwill Impairment Charge - Balance as of June 30, 2017 $ 4,599,969 |
Note 10 - Securities Purchase A
Note 10 - Securities Purchase Agreement | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 10. The Notes On September 7, 2016 “September $4,301,075 $1,000,000 $3,000,000 September December 7, 2017. June 30, 2017, $1,000,000 October 25, 2016; $1,100,000 November 16, 2016; $900,000 December 2, 2016. January 23, 2017, 887,707 September 6% 360 three six June 30, 2017, $0 $1,217 September January 2017. On December 2, 2016, two “December $6,720,000 $1,100,000 “December $4,900,000 December August 2, 2017 August 15, 2017. may may December June 30, 2017, $4.00 80% 3 20 June 30, 2017 December $1,076,818 $900,000 June 30, 2017 $6,820 6%, 360 three six June 30, 2017, $52,529 $137,546, December On February 8, 2017, two “February 2017 $5,681,818 “February 2017 $5,000,000 February 2017 October 8, 2017. may may February June 30, 2017, $4.00 80% 3 20 June 30, 2017, $0 February 2017 October 8, 2017. June 30, 2017, $5,000,000 May 23, 2017 $681,818 February 2017 6% 360 three six June 30, 2017, $81,023 $131,213, February 2017 The Placement Notes and Warrants The Company entered into an agreement with a placement agent (the “Placement Agent”) for assistance with the placement of the September “September $80,000 September 15 6% 360 three six June 30, 2017, September $0 $1,200 5 2016, 48,714 $4.54 $9.36 June 30, 2017 December 31, 2016 not The Company entered into an agreement with the Placement Agent for assistance with the placement of the December 5 “December December December December 31, 2016, December 22,000 $4.45 first six 2017 $4,000,000 December 80,000 $4.00 June 30, 2017 December 31, 2016 not December The Company entered into an agreement with the Placement Agent for assistance with the placement of the February 5 “February February 8% February $5,000,000 $4.50 June 30, 2017 December 31, 2016 not February Note Activity: Senior Secured Convertible Notes consists of the following: June 30, 2017 December 31, 2016 September Notes $ - $ 20,480 September Placement Note - 902 December Notes 164,928 10,043 February Notes - - Balance at period end $ 164,928 $ 31,425 Under ASC 210 20 45 1, The carrying value of the Senior Secured Convertible Notes is comprised of the following: June 30, 2017 December 31, 2016 September Notes $ - $ 332,000 September Placement Note - 80,000 December Notes 178,625 1,820,000 February Notes - - Unamortized discounts (13,697 ) (2,200,575 ) Carrying value $ 164,928 $ 31,425 During the three six June 30, 2017, $4,800,000 $6,657,000 $42,402 $42,402 1,210,608 1,676,960 Subsequent to June 30, 2017, not December February 2017 |
Note 11 - Fair Value of Financi
Note 11 - Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 11. Level 3 Financial liabilities measured at fair value on a recurring basis are summarized below and disclosed on the consolidated balance sheet as of June 30, 2017 December 31, 2016: Fair Value Measurement Using Level 3 Inputs Total Amount at Fair Value Level 1 Level 2 Level 3 June 30, 2017 Liabilities Derivative liability - warrants $ 141,755 $ - $ - $ 141,755 Derivative liability – conversion feature 157,215 - - 157,215 Total $ 298,970 $ - $ - $ 298,970 December 31, 2016 Liabilities Derivative liability - warrants $ 230,663 $ - $ - $ 230,663 Derivative liability – conversion feature 977,129 - - 977,129 Total $ 1,207,792 $ - $ - $ 1,207,792 The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3 six June 30, 2017: Amount Balance at December 31, 2016 $ 1,207,792 Purchases, issuances and settlements 1,640,658 Conversions to paid in capital (1,868,628 ) Change in fair value of derivative liabilities (680,852 ) Balance at June 30, 2017 $ 298,970 The fair value of the derivative conversion features and warrant liabilities as of June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 Amount Amount Dividend Yield 0% 0% Expected Volatility 45% - 140% 154% - 230% Risk free interest rate 0.85% - 1.87% 0.82% - 1.12% Contractual term (in years) 0.38 - 4.90 0.67 - 5.00 Exercise price $4.00 - $9.36 $4.00 - $9.36 Changes in the observable input values would likely cause material changes in the fair value of the Company’s Level 3 |
Note 12 - Stock Based Compensat
Note 12 - Stock Based Compensation | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 12. The Company has a stock based compensation plan, which is described as follows: On March 3, 2014, 1997 2014 “2014 May 5, 2014. 520,000 1997 2014 400,000 2014 not 2014 2014 March 3, 2024. 2014 2014 2014 no 15% August 10, 2017 1,125,000 2014 1,005,000 Also, through the date of filing this Form 10 2014 third $1,896,400, six June 30, 2017. |
Note 13 - Concentration of Cred
Note 13 - Concentration of Credit Risk | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 13. As of June 30, 2017 December 31, 2016, 4 59% 70% During the six June 30, 2017 2016, 87.3%, 89.1% 4 4 As of June 30, 2017 December 31, 2016, 3 52% 2 94% |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 14. The Company’s commitments at June 30, 2017 Operating Lease Commitments (1) Payments due by period Less than 1 year $ 114,141 1 to 3 years 677,895 3 to 5 years 347,985 Thereafter - Total $ 1,140,021 ( 1 350 7520, 10118. June 30, 2022. In addition, the Company’s Indian subsidiary has an office in Bangalore, India at a leased facility located at 3rd 7 560066. October 7, 2017. The Company’s executive office lease is subject to escalations based on increases in real estate taxes and operating expenses, all of which are charged to rent expense. Rent expense was $86,217, $54,872 three June 30, 2017 2016, $134,017 $124,485 six June 30, 2017 2016, In April 2017 three May 2017 $5,026 first 12 $5,177 12 $5,332 12 As of June 30, 2017, not Legal Proceeding : On August 24, 2016, 3839 “3839 3839 10% may December 7, 2016, 3839 3839 no $3,000,000 3839 |
Note 15 - Transactions With Rel
Note 15 - Transactions With Related Parties | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 15. Transactions with Helios and Matheson Information Technology Ltd. (“HMIT”) In September 2010 August 2013. $2,000,000 may December 31, 2015, $182,626 In August 2014, February 24, 2014. October 2014, August 2015. September 2015, three six June 30, 2017 2016 not HMIT ceased providing services under the MOU and PSA during the third 2015. The Company determined to provide for a reserve in its September 30, 2015 December 31, 2015 $2,300,000 $344,000 On January 21, 2016, February 15, 2016, not $2,300,000 September 30, 2016 December 31, 2016 Maruthi Consulting Inc. (Subsidiary of HMIT) The Company provided consulting services to Maruthi Consulting Inc., a subsidiary of HMIT. As of January 1, 2015, $75,338 2015 $223,454 no December 31, 2016. 2015, $237,318 June 30, 2017 December 31, 2016 $61,474 $61,474, |
Note 16 - Warrants
Note 16 - Warrants | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Warrants, Disclosure [Text Block] | 16. The following is a summary of the Company’s warrant activity during the six June 30, 2017: Warrant Shares Weighted Average Exercise Price Weighted Outstanding/exercisable – December 31, 2016 70,714 $ 6.26 4.87 Granted 80,000 4.00 4.95 Exercised - - - Forfeited/cancelled - - - Outstanding/exercisable – June 30, 2017 150,714 $ 5.06 4.91 |
Note 17 - Segment Reporting
Note 17 - Segment Reporting | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 17. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision–making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision–making group is composed of the Chief Executive Officer. The Company operates in two three six June 30, 2016, The Company evaluates performance of its operating segments based on revenue and operating loss. The following table summarizes the Company’s segment information for the six June 30, 2017 2016 For the Six Months Ended June 30, 2017 2016 Consulting Revenue $ 2,499,013 $ 3,887,630 Cost of Revenue 2,023,049 2,792,378 Gross Margin 475,964 1,095,252 Total operating expenses 4,663,029 1,339,585 Loss from operations (4,187,065 ) (244,333 ) Total other (expense)/income (4,541,120 ) 3,925 Provision for income taxes 41,857 34,247 Total net loss $ (8,770,042 ) $ (274,655 ) Technology Revenue $ - $ - Cost of Revenue - - Gross Margin - - Total operating expenses 2,915,354 - Loss from operations (2,915,354 ) - Total other expense (33,975 ) - Provision for income taxes - - Total net loss $ (2,949,329 ) $ - As of June 30, As of December 31, 2017 2016 Consulting Cash and cash equivalents $ 601,384 $ 1,095,732 Accounts receivable $ 344,207 $ 410,106 Unbilled receivables $ 58,625 $ 45,207 Prepaid expenses and other current assets $ 540,749 $ 554,338 Property and equipment $ 40,979 $ 34,368 Intangible assets $ - $ - Goodwill $ - $ - Deposits and other assets $ 123,178 $ 59,189 Accounts payable and accrued expenses $ 1,063,279 $ 1,196,668 Technology Cash and cash equivalents $ 832,596 $ 1,651,508 Accounts receivable $ - $ - Unbilled receivables $ - $ - Prepaid expenses and other current assets $ 162,867 $ 42,833 Property and equipment $ 93,300 $ 10,844 Intangible assets $ 5,346,532 $ 6,004,691 Goodwill $ 4,599,969 $ 4,599,969 Deposits and other assets $ 10,052 $ - Accounts payable and accrued expenses $ 542,463 $ 134,450 |
Note 18 - Subsequent Events
Note 18 - Subsequent Events | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 18. The Company has evaluated subsequent events for disclosure through the date of issuance of the accompanying unaudited consolidated interim financial statements, noting there were no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates and Assumptions and Critical Accounting Estimates and Assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation All intercompany transactions and balances have been eliminated. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill represents the excess of the purchase price over the fair value of the assets acquired and liabilities assumed. The Company is required to perform impairment reviews at each of its reporting units annually and more frequently in certain circumstances. The Company performs the annual assessment on December 31. In accordance with ASC 350–20 not not not not There were no three six June 30, 2017 2016. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Consulting revenues are recognized as services are provided. The Company primarily provides consulting services under time and material contracts, whereby revenue is recognized as hours and costs are incurred. Clients for consulting revenues are billed on a weekly or monthly basis. Revenues from fixed fee contracts are recorded when work is performed on the basis of the proportionate performance method, which is based on costs incurred to date relative to total estimated costs. Any anticipated contract losses are estimated and accrued at the time they become known and estimable. Unbilled accounts receivables represent amounts recognized as revenue based on services performed in advance of customer billings. Revenue from sales of software licenses is recognized upon delivery of the software to a customer because future obligations associated with such revenue are insignificant. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development costs are charged to operations when incurred and are included in operating expenses. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock Based Compensation The Company uses the fair value method as specified by the FASB, whereby compensation cost is recognized over the remaining service period based on the grant-date fair value of those awards as calculated for pro forma disclosures as originally issued. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements ASC Topic 820, Fair Value Measurement and Disclosures three may Level 1: Level 2: not Level 3: no The carrying value of the Company's short-term investments, prepaid expenses, accounts receivables, other current assets, accounts payable and accrued liabilities, gaming account balance, and advances from shareholder approximate fair value because of the short-term maturity of these financial instruments. The derivative liability in connection with the conversion feature of the convertible debt and warrants is classified as a level 3 |
Earnings Per Share, Policy [Policy Text Block] | Net Income/(Loss) Per Share Earnings per share (“EPS”) is the amount of earnings attributable to each share of common stock. For convenience, the term is used to refer to either earnings or loss per share. EPS is computed pursuant to Section 260 10 45 260 10 45 10 260 10 45 16, The following table shows the outstanding dilutive common shares excluded from the diluted net loss per share calculation as they were anti-dilutive: June 30, 2017 December 31, 2016 Warrants $ 150,714 $ 70,714 Conversion features on convertible notes 5,484 511,989 Total potentially dilutive shares $ 156,198 $ 582,703 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In May 2014, 2014 09 may August 2015, No. 2015 14, 2014 09 one December 15, 2017. 2014 09 December 31, 2016 2014 09. 2017, During January 2016, No. 2016 01, Financial Instruments — Overall: Recognition and Measurement of Financial Assets and Financial Liabilities 2016 01” December 15, 2017. not In February 2016, 2016 02, Leases, 842” 840, Leases not twelve twelve December 15, 2018, 2016 02 In May 2016, 2016 12, Revenue from Contracts with Customers 606” : Narrow-Scope Improvements and Practical Expedients 2016 12” 2016 12 1 1, 1, 2 3 4 5 not not 6 606 not 606. January 1, 2018, January 1, 2017. 2014 09 December 31, 2016 2014 09. 2017, In August 2016, 2016 15, Statement of Cash Flows 230” : Classification of Certain Cash Receipts and Cash Payments, 2016 15” 2016 15 eight 2016 15 December 15, 2017. 2016 15 In October 2016, 2016 16, Income Taxes 740” : Intra-Entity Transfers of Assets Other than Inventory December 15, 2019, 2016 15 In November 2016, 2016 18, Statement of Cash Flows 230” December 15, 2017 2016 18 In January 2017, 2017 01, Business Combinations 805” : Clarifying the Definition of a Business December 15, 2017, June 30, 2017, In January 2017, 2017 04, Intangibles - Goodwill and Other 350” : Simplifying the Test for Goodwill Impairment second not one zero zero 2020, January 1, 2017. June 30, 2017, In July 2017, 2017 11, Earnings Per Share 260” , Distinguishing Liabilities from Equity 480” , and Derivatives and Hedging 815" No. 2017 11 No. 2017 11 January 1, 2019. No. 2017 11 |
Note 3 - Merger with Zone Tec26
Note 3 - Merger with Zone Technologies, Inc. (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Purchase consideration: Common stock (1,740,000 shares at the transaction date fair value of $5.41 per share) $ 9,413,000 Liabilities assumed 1,574,512 Assets acquired (136,343 ) Aggregate fair value of enterprise 10,851,169 Purchase price allocation: Net liabilities assumed (1,488,476 ) Cash acquired 136,343 Total (1,352,133 ) Technology 4,270,000 Broker Relationships 4,200 Trademarks 1,977,000 Goodwill 4,599,969 Total purchase price allocation $ 10,851,169 |
Note 7 - Summary of Significa27
Note 7 - Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | June 30, 2017 December 31, 2016 Warrants $ 150,714 $ 70,714 Conversion features on convertible notes 5,484 511,989 Total potentially dilutive shares $ 156,198 $ 582,703 |
Note 8 - Property and Equipme28
Note 8 - Property and Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2017 December 31, 2016 Equipment and leaseholds $ 98,587 $ 106,460 Furniture and Fixtures 131,691 34,186 Software 178,066 167,337 Subtotal 408,344 307,983 Less: Accumulated depreciation (274,065 ) (262,771 ) Property and Equipment, net $ 134,279 $ 45,212 |
Note 9 - Intangible Assets, N29
Note 9 - Intangible Assets, Net and Goodwill (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | June 30, 2017 December 31, 2016 Estimated Useful Life Net Book Value Net Book Value Technology 3 $ 4,270,000 $ 4,270,000 Trademarks 7 1,977,000 1,977,000 Broker Relationships 1 4,200 4,200 Patents 1 - 11 195,143 - Subtotal 6,446,343 6,251,200 Less: Accumulated amortization (1,099,811 ) (246,509 ) Intangible assets, net $ 5,346,532 $ 6,004,691 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | June 30, Remaining 2017 $ 861,432 2018 1,722,864 2019 1,517,271 2020 299,530 2021 299,409 Thereafter 646,026 Total $ 5,346,532 |
Schedule of Goodwill [Table Text Block] | Balance as of December 31, 2016 $ 4,599,969 Goodwill Impairment Charge - Balance as of June 30, 2017 $ 4,599,969 |
Note 10 - Securities Purchase30
Note 10 - Securities Purchase Agreement (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Convertible Debt Activity [Table Text Block] | June 30, 2017 December 31, 2016 September Notes $ - $ 20,480 September Placement Note - 902 December Notes 164,928 10,043 February Notes - - Balance at period end $ 164,928 $ 31,425 |
Long-term Debt [Text Block] | June 30, 2017 December 31, 2016 September Notes $ - $ 332,000 September Placement Note - 80,000 December Notes 178,625 1,820,000 February Notes - - Unamortized discounts (13,697 ) (2,200,575 ) Carrying value $ 164,928 $ 31,425 |
Note 11 - Fair Value of Finan31
Note 11 - Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurement Using Level 3 Inputs Total Amount at Fair Value Level 1 Level 2 Level 3 June 30, 2017 Liabilities Derivative liability - warrants $ 141,755 $ - $ - $ 141,755 Derivative liability – conversion feature 157,215 - - 157,215 Total $ 298,970 $ - $ - $ 298,970 December 31, 2016 Liabilities Derivative liability - warrants $ 230,663 $ - $ - $ 230,663 Derivative liability – conversion feature 977,129 - - 977,129 Total $ 1,207,792 $ - $ - $ 1,207,792 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Amount Balance at December 31, 2016 $ 1,207,792 Purchases, issuances and settlements 1,640,658 Conversions to paid in capital (1,868,628 ) Change in fair value of derivative liabilities (680,852 ) Balance at June 30, 2017 $ 298,970 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | June 30, 2017 December 31, 2016 Amount Amount Dividend Yield 0% 0% Expected Volatility 45% - 140% 154% - 230% Risk free interest rate 0.85% - 1.87% 0.82% - 1.12% Contractual term (in years) 0.38 - 4.90 0.67 - 5.00 Exercise price $4.00 - $9.36 $4.00 - $9.36 |
Note 14 - Commitments and Con32
Note 14 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block] | Operating Lease Commitments (1) Payments due by period Less than 1 year $ 114,141 1 to 3 years 677,895 3 to 5 years 347,985 Thereafter - Total $ 1,140,021 |
Note 16 - Warrants (Tables)
Note 16 - Warrants (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Warrant Shares Weighted Average Exercise Price Weighted Outstanding/exercisable – December 31, 2016 70,714 $ 6.26 4.87 Granted 80,000 4.00 4.95 Exercised - - - Forfeited/cancelled - - - Outstanding/exercisable – June 30, 2017 150,714 $ 5.06 4.91 |
Note 17 - Segment Reporting (Ta
Note 17 - Segment Reporting (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Reconciliation of Revenue and Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | For the Six Months Ended June 30, 2017 2016 Consulting Revenue $ 2,499,013 $ 3,887,630 Cost of Revenue 2,023,049 2,792,378 Gross Margin 475,964 1,095,252 Total operating expenses 4,663,029 1,339,585 Loss from operations (4,187,065 ) (244,333 ) Total other (expense)/income (4,541,120 ) 3,925 Provision for income taxes 41,857 34,247 Total net loss $ (8,770,042 ) $ (274,655 ) Technology Revenue $ - $ - Cost of Revenue - - Gross Margin - - Total operating expenses 2,915,354 - Loss from operations (2,915,354 ) - Total other expense (33,975 ) - Provision for income taxes - - Total net loss $ (2,949,329 ) $ - As of June 30, As of December 31, 2017 2016 Consulting Cash and cash equivalents $ 601,384 $ 1,095,732 Accounts receivable $ 344,207 $ 410,106 Unbilled receivables $ 58,625 $ 45,207 Prepaid expenses and other current assets $ 540,749 $ 554,338 Property and equipment $ 40,979 $ 34,368 Intangible assets $ - $ - Goodwill $ - $ - Deposits and other assets $ 123,178 $ 59,189 Accounts payable and accrued expenses $ 1,063,279 $ 1,196,668 Technology Cash and cash equivalents $ 832,596 $ 1,651,508 Accounts receivable $ - $ - Unbilled receivables $ - $ - Prepaid expenses and other current assets $ 162,867 $ 42,833 Property and equipment $ 93,300 $ 10,844 Intangible assets $ 5,346,532 $ 6,004,691 Goodwill $ 4,599,969 $ 4,599,969 Deposits and other assets $ 10,052 $ - Accounts payable and accrued expenses $ 542,463 $ 134,450 |
Note 3 - Merger with Zone Tec35
Note 3 - Merger with Zone Technologies, Inc. (Details Textual) | Nov. 09, 2016shares |
Stock Issued During Period, Shares, Acquisitions | 1,740,000 |
Business Combination, Exchange Ratio | 0.174 |
Note 3 - Merger with Zone Tec36
Note 3 - Merger with Zone Technologies, Inc. - Schedule of Business Acquisition (Details) - USD ($) | Nov. 09, 2016 | Jun. 30, 2017 | Dec. 31, 2016 |
Goodwill | $ 4,599,969 | $ 4,599,969 | |
Zone Technologies, Inc. [Member] | |||
Common stock (1,740,000 shares at the transaction date fair value of $5.41 per share) | $ 9,413,000 | ||
Liabilities assumed | 1,574,512 | ||
Assets acquired | (136,343) | ||
Aggregate fair value of enterprise | 10,851,169 | ||
Net liabilities assumed | (1,488,476) | ||
Cash acquired | 136,343 | ||
Total | (1,352,133) | ||
Technology | 4,270,000 | ||
Broker Relationships | 4,200 | ||
Trademarks | 1,977,000 | ||
Goodwill | 4,599,969 | ||
Total purchase price allocation | $ 10,851,169 |
Note 3 - Merger with Zone Tec37
Note 3 - Merger with Zone Technologies, Inc. - Schedule of Business Acquisition (Details) (Parentheticals) | Nov. 09, 2016$ / sharesshares |
Stock issued pursuant to acquisition, Shares (in shares) | 1,740,000 |
Zone Technologies, Inc. [Member] | |
Stock issued pursuant to acquisition, Shares (in shares) | 1,740,000 |
Stock issued pursuant to acquisition, Fair value per share (in dollars per share) | $ / shares | $ 5.41 |
Note 4 - Licensing Agreement 38
Note 4 - Licensing Agreement with Is It You Ltd. (Details Textual) xbrli-pure in Millions | May 18, 2017USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) |
Payments to Acquire Intangible Assets | $ 195,143 | ||
Is It You Ltd. [Member] | |||
Licensing Term | 5 years | ||
Licensing Agreement Renewal Term | 1 year | ||
Is It You Ltd. [Member] | Licensing Agreements [Member] | |||
Payments to Acquire Intangible Assets | $ 40,000 | ||
License Costs For Up to 1.6 Million End-Users [Member] | Is It You Ltd. [Member] | |||
License Costs | $ 80,000 | ||
Maximum Number of End-User Licenses Issuable Under a Licensing Agreement | 1.6 | ||
License Costs For the Additional End-Users Beyond 1.6 Million End-Users and Up to 20 Million End-Users [Member] | Is It You Ltd. [Member] | |||
Contingent Additional License Costs | $ 20,000 | ||
Maximum Number of End-User Licenses Issuable Under a Licensing Agreement | 20 | ||
License Costs For the Additional End-Users Beyond 20 Million End-Users and Up to 100 Million End-Users [Member] | Is It You Ltd. [Member] | |||
Contingent Additional License Costs | $ 1,000,000 | ||
Maximum Number of End-User Licenses Issuable Under a Licensing Agreement | 100 |
Note 5 - Acquisition of Asset39
Note 5 - Acquisition of Assets from Trendit Ltd. (Details Textual) | May 25, 2017USD ($) |
Payments to Acquire Businesses, Gross | $ 195,143 |
Note 6 - Going Concern Analys40
Note 6 - Going Concern Analysis (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Retained Earnings (Accumulated Deficit) | $ (54,980,789) | $ (54,980,789) | $ (43,261,418) | |||
Net Income (Loss) Attributable to Parent | (5,221,816) | $ (124,241) | (11,719,371) | $ (274,655) | ||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | (4,939,042) | 490,182 | ||||
Cash and Cash Equivalents, at Carrying Value | 1,433,980 | $ 1,369,985 | 1,433,980 | $ 1,369,985 | $ 2,747,240 | $ 898,477 |
Working Capital | $ 470,788 | $ 470,788 |
Note 7 - Summary of Significa41
Note 7 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Goodwill, Impairment Loss | $ 0 | $ 0 | $ 0 | $ 0 |
Note 7 - Summary of Significa42
Note 7 - Summary of Significant Accounting Policies - Anti-dilutive Securities (Details) - shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Total potentially dilutive shares (in shares) | 156,198 | 582,703 |
Warrant [Member] | ||
Total potentially dilutive shares (in shares) | 150,714 | 70,714 |
Convertible Debt Securities [Member] | ||
Total potentially dilutive shares (in shares) | 5,484 | 511,989 |
Note 8 - Property and Equipme43
Note 8 - Property and Equipment, Net - Property and Equipment, at Cost (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Equipment and leaseholds | $ 98,587 | $ 106,460 |
Furniture and Fixtures | 131,691 | 34,186 |
Software | 178,066 | 167,337 |
Subtotal | 408,344 | 307,983 |
Less: Accumulated depreciation | (274,065) | (262,771) |
Property and Equipment, net | $ 134,279 | $ 45,212 |
Note 9 - Intangible Assets, N44
Note 9 - Intangible Assets, Net and Goodwill (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Amortization of Intangible Assets | $ 426,651 | $ 0 | $ 853,302 | $ 0 |
Note 9 - Intangible Assets, N45
Note 9 - Intangible Assets, Net and Goodwill - Intangible Assets (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Asset, Gross | $ 6,446,343 | $ 6,251,200 |
Less: Accumulated amortization | (1,099,811) | (246,509) |
Intangible assets, net | 5,346,532 | 6,004,691 |
Technology-Based Intangible Assets [Member] | ||
Finite-Lived Intangible Asset, Gross | $ 4,270,000 | 4,270,000 |
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | |
Trademarks [Member] | ||
Finite-Lived Intangible Asset, Gross | $ 1,977,000 | 1,977,000 |
Finite-Lived Intangible Asset, Useful Life (Year) | 7 years | |
Broker Relationships [Member] | ||
Finite-Lived Intangible Asset, Gross | $ 4,200 | 4,200 |
Finite-Lived Intangible Asset, Useful Life (Year) | 1 year | |
Patents [Member] | ||
Finite-Lived Intangible Asset, Gross | $ 195,143 | |
Patents [Member] | Minimum [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 1 year | |
Patents [Member] | Maximum [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 11 years |
Note 9 - Intangible Assets, N46
Note 9 - Intangible Assets, Net and Goodwill - Estimated Future Annual Amortization Expense (Details) | Jun. 30, 2017USD ($) |
Remaining 2,017 | $ 861,432 |
2,018 | 1,722,864 |
2,019 | 1,517,271 |
2,020 | 299,530 |
2,021 | 299,409 |
Thereafter | 646,026 |
Total | $ 5,346,532 |
Note 9 - Intangible Assets, N47
Note 9 - Intangible Assets, Net and Goodwill - Schedule of Goodwill (Details) | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Balance as of December 31, 2016 | $ 4,599,969 |
Goodwill Impairment Charge | |
Balance as of June 30, 2017 | $ 4,599,969 |
Note 10 - Securities Purchase48
Note 10 - Securities Purchase Agreement (Details Textual) - USD ($) | May 23, 2017 | Feb. 08, 2017 | Jan. 23, 2017 | Dec. 02, 2016 | Nov. 16, 2016 | Oct. 25, 2016 | Sep. 07, 2016 | Jun. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Warrants Issued for Placement Agent Services [Member] | ||||||||||
Class of Warrant or Right, Term | 5 years | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 48,714 | |||||||||
Warrants Issued for Placement Agent Services [Member] | Minimum [Member] | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 4.54 | |||||||||
Warrants Issued for Placement Agent Services [Member] | Maximum [Member] | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 9.36 | |||||||||
Warrants Issued in Connection with December 2016 Securities Purchase Agreement [Member] | ||||||||||
Class of Warrant or Right, Term | 5 years | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 22,000 | |||||||||
Class of Warrant or Right, Issued During Period | 80,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 4 | $ 4 | $ 4.45 | |||||||
Warrants Issued in Connection with February 2017 Securities Purchase Agreement [Member] | ||||||||||
Class of Warrant or Right, Term | 5 years | |||||||||
Common Stock Purchased, Percentage | 8.00% | |||||||||
Debt Instrument, Restricted Principal | $ 5,000,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 4.50 | |||||||||
Converted Debt to Common Stock [Member] | ||||||||||
Debt Conversion, Original Debt, Amount | $ 4,800,000 | $ 6,657,000 | ||||||||
Debt Conversion, Original Debt, Accrued Interest | $ 42,402 | $ 42,402 | ||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,210,608 | 1,676,960 | ||||||||
Investor Note [Member] | ||||||||||
Financing Receivable, Net | $ 3,000,000 | |||||||||
Voluntary Prepayment of Notes Receivable that Will Trigger the Debt Instrument's Alternate Conversion Price | $ 900,000 | $ 1,100,000 | $ 1,000,000 | |||||||
Debt Conversion, Converted Instrument, Shares Issued | 887,707 | |||||||||
Senior Secured Convertible Notes [Member] | ||||||||||
Proceeds from Convertible Debt | 1,000,000 | |||||||||
Debt Instrument, Face Amount | $ 4,301,075 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||||||||
Interest Expense, Debt | $ 0 | $ 1,217 | ||||||||
December 2016 Notes [Member] | ||||||||||
Proceeds from Convertible Debt | 4,000,000 | |||||||||
Repayments of Convertible Debt | 1,076,818 | |||||||||
Long-term Debt, Gross | 900,000 | 900,000 | ||||||||
Interest Payable | 6,820 | 6,820 | ||||||||
Interest Expense, Debt | $ 52,529 | $ 137,546 | ||||||||
December 2016 Notes [Member] | Convertible Notes Payable [Member] | ||||||||||
Proceeds from Convertible Debt | 1,100,000 | |||||||||
Debt Instrument, Face Amount | 4,900,000 | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 4 | $ 4 | ||||||||
Debt Instrument, Percentage of Quotient Used in Determination of Alternative Conversion Price | 80.00% | |||||||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 3 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 6.00% | ||||||||
Convertible Notes Payable | $ 6,720,000 | |||||||||
February 2017 Notes [Member] | ||||||||||
Debt Conversion, Original Debt, Amount | $ 681,818 | |||||||||
Convertible Notes Payable | $ 5,000,000 | $ 5,000,000 | ||||||||
February 2017 Notes [Member] | Convertible Notes Payable [Member] | ||||||||||
Short-term Debt, Number of Instruments Issued | 2 | |||||||||
Short-term Debt | $ 5,681,818 | |||||||||
Debt Instrument, Face Amount | $ 5,000,000 | |||||||||
Debt Instrument, Convertible, Conversion Price | $ 4 | $ 4 | ||||||||
Debt Instrument, Percentage of Quotient Used in Determination of Alternative Conversion Price | 80.00% | |||||||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 3 | |||||||||
Repayments of Convertible Debt | $ 0 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||||||||
Interest Expense, Debt | $ 81,023 | 131,213 | ||||||||
Palladium Note Payable [Member] | ||||||||||
Debt Instrument, Face Amount | $ 80,000 | |||||||||
Debt Instrument, Term | 1 year 90 days | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||||||||
Interest Expense, Debt | $ 0 | $ 1,200 |
Note 10 - Securities Purchase49
Note 10 - Securities Purchase Agreement - Activity in the Convertible Notes (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Senior Secured Convertible Notes [Member] | ||
Senior Secured Convertible Notes | $ 164,928 | $ 31,425 |
September Notes [Member] | Senior Secured Convertible Notes [Member] | ||
Senior Secured Convertible Notes | 20,480 | |
September Placement Note [Member] | Senior Secured Convertible Notes [Member] | ||
Senior Secured Convertible Notes | 902 | |
December Notes [Member] | Senior Secured Convertible Notes [Member] | ||
Senior Secured Convertible Notes | 164,928 | 10,043 |
February Notes [Member] | Senior Secured Convertible Notes [Member] | ||
Senior Secured Convertible Notes |
Note 10 - Securities Purchase50
Note 10 - Securities Purchase Agreement - Carrying Value of Senior Secured Convertible Notes (Details) - Senior Secured Convertible Notes [Member] - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Unamortized discounts | $ (13,697) | $ (2,200,575) |
Carrying value | 164,928 | 31,425 |
September Notes [Member] | ||
Long-term debt gross | 332,000 | |
September Placement Note [Member] | ||
Long-term debt gross | 80,000 | |
December Notes [Member] | ||
Long-term debt gross | 178,625 | 1,820,000 |
February Notes [Member] | ||
Long-term debt gross |
Note 11 - Fair Value of Finan51
Note 11 - Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Derivative liability | $ 298,970 | $ 1,207,792 |
Fair Value, Measurements, Recurring [Member] | ||
Derivative liability - warrants | 230,663 | |
Derivative liability – conversion feature | 977,129 | |
Derivative liability | 1,207,792 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative liability - warrants | ||
Derivative liability – conversion feature | ||
Derivative liability | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative liability - warrants | ||
Derivative liability – conversion feature | ||
Derivative liability | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative liability - warrants | 230,663 | |
Derivative liability – conversion feature | 977,129 | |
Derivative liability | $ 1,207,792 | |
Reported Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | ||
Derivative liability - warrants | 141,755 | |
Derivative liability – conversion feature | 157,215 | |
Derivative liability | 298,970 | |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Derivative liability - warrants | ||
Derivative liability – conversion feature | ||
Derivative liability | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Derivative liability - warrants | ||
Derivative liability – conversion feature | ||
Derivative liability | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Derivative liability - warrants | 141,755 | |
Derivative liability – conversion feature | 157,215 | |
Derivative liability | $ 298,970 |
Note 11 - Fair Value of Finan52
Note 11 - Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis - Summary of the Changes in Fair Value (Details) | 6 Months Ended |
Jun. 30, 2017USD ($) | |
Balance | $ 1,207,792 |
Purchases, issuances and settlements | 1,640,658 |
Conversions to paid in capital | (1,868,628) |
Change in fair value of derivative liabilities | (680,852) |
Balance | $ 298,970 |
Note 11 - Fair Value of Finan53
Note 11 - Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis - Valuation Assumptions (Details) - Derivative Conversion Features and Warrant Liabilities [Member] - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Dividend Yield | 0.00% | 0.00% |
Minimum [Member] | ||
Expected Volatility | 45.00% | 154.00% |
Risk free interest rate | 0.85% | 0.82% |
Contractual term (in years) (Year) | 138 days | 244 days |
Exercise price (in dollars per share) | $ 4 | $ 4 |
Maximum [Member] | ||
Expected Volatility | 140.00% | 230.00% |
Risk free interest rate | 1.87% | 1.12% |
Contractual term (in years) (Year) | 4 years 328 days | 5 years |
Exercise price (in dollars per share) | $ 9.36 | $ 9.36 |
Note 12 - Stock Based Compens54
Note 12 - Stock Based Compensation (Details Textual) - USD ($) | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Nov. 07, 2016 | Mar. 02, 2014 | |
Issuance of Stock and Warrants for Services or Claims | $ 1,896,400 | |||
The 1997 Stock Options and Award Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 520,000 | |||
The 2014 Equity Incentive Plan [Member] | ||||
Common Stock, Capital Shares Reserved for Future Issuance | 400,000 | 1,125,000 | ||
The 2014 Equity Incentive Plan [Member] | Third Party Service Providers [Member] | Selling, General and Administrative Expenses [Member] | ||||
Issuance of Stock and Warrants for Services or Claims | $ 1,896,400 | |||
The 2014 Equity Incentive Plan [Member] | Common Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,005,000 | |||
The 2014 Equity Incentive Plan [Member] | Zone Technologies, Inc. [Member] | ||||
Percentage of Fully Diluted Common Shares, Post-Merger, New Issuance Limitation | 15.00% |
Note 13 - Concentration of Cr55
Note 13 - Concentration of Credit Risk (Details Textual) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||
Concentration Risk, Percentage | 59.00% | 70.00% | |
Number of Major Customers | 4 | ||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | |||
Concentration Risk, Percentage | 87.30% | 89.10% | |
Number of Major Customers | 4 | 4 | |
Supplier Concentration Risk [Member] | Accounts Payable, Benchmark [Member] | |||
Number of Major Vendors | 3 | 2 | |
Concentration Risk, Percentage | 52.00% | 94.00% |
Note 14 - Commitments and Con56
Note 14 - Commitments and Contingencies (Details Textual) - USD ($) | Apr. 01, 2017 | Aug. 24, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 |
Operating Leases, Rent Expense | $ 86,217 | $ 54,872 | $ 134,017 | $ 124,485 | ||
The 3839 Holdings LLC Litigation Case [Member] | Minimum [Member] | ||||||
Loss Contingency, Damages Sought, Value | $ 3,000,000,000,000 | |||||
The 3839 Holdings LLC [Member] | Highland Holdings Group, Inc [Member] | ||||||
Equity Method Investment, Ownership Percentage | 10.00% | |||||
Lease Arrangement for Office Space in Miami [Member] | ||||||
Lessee, Operating Lease, Term of Contract | 3 years | |||||
Lessee, Operating Lease, Monthly Rental Payments, First Twelve Months | $ 5,026 | |||||
Lessee, Operating Lease, Monthly Rental Payments, Year Two | 5,177 | |||||
Lessee, Operating Lease, Monthly Rental Payments, Year Three | $ 5,332 |
Note 14 - Commitments and Con57
Note 14 - Commitments and Contingencies - Summary of Operating Lease Commitments (Details) | Jun. 30, 2017USD ($) | |
Less than 1 year | $ 114,141 | [1] |
1 to 3 years | 677,895 | |
3 to 5 years | 347,985 | |
Thereafter | ||
Total | $ 1,140,021 | |
[1] | (1) The Company's executive office is located at the Empire State Building, 350 Fifth Avenue, Suite 7520, New York, New York 10118. The Company's executive office is located in a leased facility with a term expiring on June 30, 2022. |
Note 15 - Transactions With R58
Note 15 - Transactions With Related Parties (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2010 | |
Revenues | $ 1,140,951 | $ 1,858,186 | $ 2,499,013 | $ 3,887,630 | ||||||
Helios and Matheson Parent [Member] | ||||||||||
Reserve for Reimbursable Expenses and Advances | $ 344,000 | |||||||||
Accounts Receivable, Related Parties | 182,626 | |||||||||
Revenues | 0 | $ 0 | 0 | $ 0 | $ 2,300,000 | $ 2,300,000 | ||||
Reserve for Security Deposit and Reimbursable Expenses and Advances | 2,300,000 | $ 2,300,000 | ||||||||
Maruthi Consulting Inc., Subsidiary [Member] | ||||||||||
Accounts Receivable, Related Parties | $ 61,474 | $ 61,474 | 61,474 | $ 75,338 | ||||||
Additional Amounts Billed | 223,454 | |||||||||
Proceeds From Related Party | $ 0 | $ 237,318 | ||||||||
Security Deposits [Member] | Helios and Matheson Parent [Member] | ||||||||||
Due from Related Parties | $ 2,000,000 |
Note 16 - Warrants - Warrant Ac
Note 16 - Warrants - Warrant Activity (Details) - Warrants Issued for Placement Agent Services [Member] - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Number of Warrants, Beginning Balance (in shares) | 70,714 | |
Weighted Average Exercise Price, Begining (in dollars per share) | $ 6.26 | |
Weighted Average Exercise Price, Ending (in dollars per share) | $ 5.06 | $ 6.26 |
Weighted Average Remaining Contractual Life (Year) | 4 years 332 days | 4 years 317 days |
Number of Warrants, Granted (in shares) | 80,000 | |
Weighted Average Exercise Price, Granted (in dollars per share) | $ 4 | |
Weighted Average Remaining Contractual Life, Granted (Year) | 4 years 346 days | |
Number of Warrants, Exercised (in shares) | ||
Weighted Average Exercise Price, Exercised (in dollars per share) | ||
Weighted Average Remaining Contractual Life, Exercised (Year) | ||
Number of Warrants, Forfeited/Cancelled (in shares) | ||
Weighted Average Exercise Price, Forfeited/Cancelled (in dollars per share) | ||
Weighted Average Remaining Contractual Life, Forfeited/Cancelled (Year) | ||
Number of Warrants, Ending Balance (in shares) | 150,714 | 70,714 |
Note 17 - Segment Reporting (De
Note 17 - Segment Reporting (Details Textual) | 6 Months Ended |
Jun. 30, 2017 | |
Number of Operating Segments | 2 |
Note 17 - Segment Reporting - S
Note 17 - Segment Reporting - Summary of Segment Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Loss from operations | $ (2,743,899) | $ (95,913) | $ (7,102,419) | $ (244,333) | ||
Total other (expense)/income | (2,466,544) | 2,919 | (4,575,095) | 3,925 | ||
Provision for income taxes | 11,373 | 31,247 | 41,857 | 34,247 | ||
Net Income (Loss) Attributable to Parent | (5,221,816) | (124,241) | (11,719,371) | (274,655) | ||
Revenue | 1,140,951 | 1,858,186 | 2,499,013 | 3,887,630 | ||
Cost of revenue | 917,564 | 1,337,430 | 2,023,049 | 2,792,378 | ||
Gross Margin | 223,387 | 520,756 | 475,964 | 1,095,252 | ||
Total operating expenses | 2,967,286 | 616,669 | 7,578,383 | 1,339,585 | ||
Prepaid expenses and other current assets | 703,616 | 703,616 | $ 597,171 | |||
Property and equipment, net | 134,279 | 134,279 | 45,212 | |||
Intangible assets, net | 5,346,532 | 5,346,532 | 6,004,691 | |||
Goodwill | 4,599,969 | 4,599,969 | 4,599,969 | |||
Deposits and other assets | 133,230 | 133,230 | 59,189 | |||
Accounts payable and accrued expenses | 1,605,742 | 1,605,742 | 1,331,118 | |||
Cash and cash equivalents | 1,433,980 | 1,369,985 | 1,433,980 | 1,369,985 | 2,747,240 | $ 898,477 |
Accounts receivable | 344,207 | 344,207 | 410,106 | |||
Unbilled receivables | 58,625 | 58,625 | $ 45,207 | |||
Consulting Segment [Member] | ||||||
Loss from operations | (4,187,065) | (244,333) | ||||
Total other (expense)/income | (4,541,120) | 3,925 | ||||
Provision for income taxes | 41,857 | 34,247 | ||||
Net Income (Loss) Attributable to Parent | (8,770,042) | (274,655) | ||||
Revenue | 2,499,013 | 3,887,630 | ||||
Cost of revenue | 2,023,049 | 2,792,378 | ||||
Gross Margin | 475,964 | 1,095,252 | ||||
Total operating expenses | 4,663,029 | 1,339,585 | ||||
Prepaid expenses and other current assets | 540,749 | 554,338 | 540,749 | 554,338 | ||
Property and equipment, net | 40,979 | 34,368 | 40,979 | 34,368 | ||
Intangible assets, net | ||||||
Goodwill | ||||||
Deposits and other assets | 123,178 | 59,189 | 123,178 | 59,189 | ||
Accounts payable and accrued expenses | 1,063,279 | 1,196,668 | 1,063,279 | 1,196,668 | ||
Cash and cash equivalents | 601,384 | 1,095,732 | 601,384 | 1,095,732 | ||
Accounts receivable | 344,207 | 410,106 | 344,207 | 410,106 | ||
Unbilled receivables | 58,625 | 45,207 | 58,625 | 45,207 | ||
Technology Segment [Member] | ||||||
Loss from operations | (2,915,354) | |||||
Total other (expense)/income | (33,975) | |||||
Provision for income taxes | ||||||
Net Income (Loss) Attributable to Parent | (2,949,329) | |||||
Revenue | ||||||
Cost of revenue | ||||||
Gross Margin | ||||||
Total operating expenses | 2,915,354 | |||||
Prepaid expenses and other current assets | 162,867 | 42,833 | 162,867 | 42,833 | ||
Property and equipment, net | 93,300 | 10,844 | 93,300 | 10,844 | ||
Intangible assets, net | 5,346,532 | 6,004,691 | 5,346,532 | 6,004,691 | ||
Goodwill | 4,599,969 | 4,599,969 | 4,599,969 | 4,599,969 | ||
Deposits and other assets | 10,052 | 10,052 | ||||
Accounts payable and accrued expenses | 542,463 | 134,450 | 542,463 | 134,450 | ||
Cash and cash equivalents | 832,596 | 1,651,508 | 832,596 | 1,651,508 | ||
Accounts receivable | ||||||
Unbilled receivables |