TheStreet 10-Q 14 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 09, 2018
Document And Entity Information
Entity Registrant Name	THESTREET, INC.
Entity Central Index Key	1,080,056
Document Type	10-Q
Trading Symbol	TST
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity's Reporting Status Current	Yes
Entity Small Business	true
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		49,612,180
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,018

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 40,833,954	$ 11,684,817
Accounts receivable, net of allowance for doubtful accounts of $296,243 as of September 30, 2018 and $278,977 as of December 31, 2017	4,572,216	4,546,308
Other receivables, net	3,616,486	389,353
Prepaid expenses and other current assets	1,615,839	1,615,720
Current assets of discontinued operations		230,116
Total current assets	50,638,495	18,466,314
Noncurrent Assets:
Property and equipment, net of accumulated depreciation and amortization of $6,026,109 as of September 30, 2018 and $5,475,077 as of December 31, 2017	1,602,024	2,092,669
Marketable securities	1,833,535	1,680,000
Other assets	1,123,862	306,465
Goodwill	23,515,608	23,568,472
Other intangible assets, net of accumulated amortization of $18,370,335 as of September 30, 2018 and $15,702,665 as of December 31, 2017	12,608,512	12,966,569
Deferred tax asset	1,514,854	1,865,453
Restricted cash	500,000	500,000
Noncurrent assets of discontinued operations		7,564,606
Total assets	93,336,890	69,010,548
Current Liabilities:
Accounts payable	1,867,612	1,999,772
Accrued expenses	3,999,779	3,690,337
Deferred revenue	21,863,890	19,201,693
Other current liabilities	793,794	1,835,679
Current liabilities of discontinued operations		4,246,891
Total current liabilities	28,525,075	30,974,372
Noncurrent Liabilities:
Deferred tax liability	1,046,387	803,917
Other noncurrent liabilities	1,744,652	1,543,602
Noncurrent liabilities of discontinued operations		741,856
Total liabilities	31,316,114	34,063,747
Stockholders' Equity:
Common Stock; $0.01 par value; 100,000,000 shares authorized; 57,330,389 shares issued and 49,609,152 shares outstanding as of September 30, 2018, and 56,891,551 shares issued and 49,181,462 shares outstanding as of December 31, 2017	573,304	568,916
Additional paid-in capital	261,281,003	259,569,737
Accumulated other comprehensive loss	(5,264,875)	(4,845,650)
Treasury stock at cost; 7,721,237 shares as of September 30, 2018 and 7,710,089 shares as of December 31, 2017	(13,503,567)	(13,484,924)
Accumulated deficit	(181,065,089)	(206,861,278)
Total stockholders' equity	62,020,776	34,946,801
Total liabilities and stockholders' equity	$ 93,336,890	$ 69,010,548

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts on accounts receivable	$ 296,243	$ 278,997
Accumulated depreciation and amortization on property and equipment	6,026,109	5,475,077
Accumulated amortization on other intangibles	$ 18,370,335	$ 15,702,665
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized	100,000,000	100,000,000
Common stock, issued	57,330,389	56,891,551
Common stock, oustanding	49,609,152	49,181,462
Treasury stock, shares	7,721,237	7,710,089

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Total revenue	$ 13,007,228	$ 13,334,253	$ 39,171,648	$ 40,798,780
Operating expense:
Cost of services	5,770,422	6,185,753	16,977,154	19,261,777
Sales and marketing	3,639,704	2,782,596	11,017,781	9,265,547
General and administrative	4,368,148	3,718,094	12,687,396	11,268,698
Depreciation and amortization	1,166,717	1,115,035	3,424,630	3,189,538
Restructuring and other charges				198,979
Total operating expense	14,944,991	13,801,478	44,106,961	43,184,539
Operating loss	(1,937,763)	(467,225)	(4,935,313)	(2,385,759)
Net interest income	32,359	8,168	81,167	26,224
Loss before income taxes from continuing operations	(1,905,404)	(459,057)	(4,854,146)	(2,359,535)
(Loss) income from discontinued operations	(129,809)	842,588	1,725,646	2,568,957
(Loss) gain on sale of business, net of tax	(551,752)		27,067,071
(Loss) income before income taxes	(2,586,965)	383,531	23,938,571	209,422
(Provision) benefit for income taxes	775,014	(193,662)	1,083,763	(802,249)
Net (loss) income attributable to common stockholders	$ (1,811,951)	$ 189,869	$ 25,022,334	$ (592,827)
Basic net (loss) income attributable to common stockholders:
Continuing operations (in dollars per share)	$ (0.02)	$ (0.02)	$ (0.08)	$ (0.09)
Discontinued operations (in dollars per share)	(0.02)	0.03	0.59	0.07
Basic net (loss) income per share (in dollars per share)	(0.04)	0.01	0.51	(0.02)
Diluted net (loss) income attributable to common stockholders:
Continuing operations (in dollars per share)	(0.02)	(0.02)	(0.08)	(0.09)
Discontinued operations (in dollars per share)	(0.02)	0.03	0.57	0.07
Diluted net (loss) income per share (in dollars per share)	$ (0.04)	$ 0.01	$ 0.49	$ (0.02)
Weighted average basic shares outstanding (in shares)	49,600,837	35,869,751	49,362,018	35,710,049
Weighted average diluted shares outstanding (in shares)	49,600,837	36,142,548	50,695,450	35,710,049
Business To Business [Member]
Total revenue	$ 6,274,824	$ 5,951,581	$ 18,866,397	$ 17,418,252
Operating expense:
Operating loss	(766,477)	(613,860)	(1,820,414)	(2,157,859)
Business To Consumer [Member]
Total revenue	6,732,404	7,382,672	20,305,251	23,380,528
Operating expense:
Operating loss	$ (1,170,796)	$ 146,635	$ (3,114,410)	$ (227,900)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (1,811,951)	$ 189,869	$ 25,022,334	$ (592,827)
Foreign currency translation (loss) gain	(243,556)	(158,076)	(572,760)	842,265
Unrealized gain on marketable securities	83,509	55,500	153,535	50,250
Comprehensive (loss) income	$ (1,971,998)	$ 87,293	$ 24,603,109	$ 299,688

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Cash Flows from Operating Activities:
Net income (loss)	$ (1,811,951)	$ 189,869	$ 25,022,334	$ (592,827)
Adjustments to reconcile net loss to net cash provided by operating activities:
Gain on sale of business, net of tax	551,752		(27,067,071)
Stock-based compensation expense			1,715,731	1,205,978
Provision for doubtful accounts			55,109	69,260
Depreciation and amortization			3,584,922	3,834,785
Deferred taxes			(1,108,994)	444,816
Deferred rent			(203,659)	(394,839)
Changes in operating assets and liabilities:
Accounts receivable			(178,173)	332,707
Other receivables			122,867	49,336
Prepaid expenses and other current assets			246,411	(582,693)
Other assets			(356,060)	(4,417)
Accounts payable			(141,116)	(344,356)
Accrued expenses			(42,772)	(1,573,044)
Deferred revenue			3,386,141	1,719,817
Other current liabilities			(73,126)	(540)
Other liabilities			137,610
Net cash provided by operating activities			5,100,154	4,163,983
Cash Flows from Investing Activities:
Proceeds from sale of business, net			28,232,100
Capital expenditures			(2,870,300)	(1,832,925)
Net cash provided by (used in) investing activities			25,361,800	(1,832,925)
Cash Flows from Financing Activities:
Cash dividends paid on common stock			(68,162)	(68,245)
Earnout payment for prior acquisition			(951,867)
Shares withheld on RSU vesting to pay for withholding taxes			(17,228)	(12,469)
Share repurchase			(1,415)
Net cash used in financing activities			(1,038,672)	(80,714)
Effect of foreign exchange rate changes on cash and cash equivalents			(274,145)	368,713
Net increase in cash, cash equivalents and restricted cash			29,149,137	2,619,057
Cash, cash equivalents and restricted cash beginning of period			12,184,817	21,871,122	$ 21,871,122
Cash, cash equivalents and restricted cash end of period	$ 41,333,954	$ 24,490,179	$ 41,333,954	$ 24,490,179	$ 12,184,817

DESCRIPTION OF THE BUSINESS AND

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	1. DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION TheStreet, Inc. is a leading financial news and information provider. Our business-to-business (B2B) and business-to-consumer (B2C) content and products provide individual and institutional investors, advisors and dealmakers with actionable information from the worlds of finance and business. Our B2B business products have helped diversify our business from primarily serving retail investors to also providing an indispensable source of business intelligence for both high net worth individuals and executives in the top firms in the world. The Deal delivers sophisticated news and analysis on changes in corporate control including mergers and acquisitions, private equity, corporate activism and restructuring. BoardEx is an institutional relationship capital management database and platform which holds in-depth profiles of over 1 million of the world’s most important business leaders. Our B2B business derives revenue primarily from subscription products, events/conferences and information services. Our B2C business is led by our namesake website, TheStreet.com, and includes free content and houses our premium subscription products, such as RealMoney, RealMoney Pro and Actions Alerts PLUS, that target varying segments of the retail investing public. Our B2C business primarily generates revenue from premium subscription products and advertising revenue. Unaudited Interim Financial Statements The interim condensed consolidated balance sheet as of September 30, 2018, the condensed consolidated statements of operations and comprehensive (loss) income for the three and nine months ended September 30, 2018 and 2017, and the condensed statements of cash flows for the nine months ended September 30, 2018 and 2017 are unaudited. The unaudited interim financial statements have been prepared on a basis consistent with the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments necessary to state fairly the Company’s financial position as of September 30, 2018, its results of consolidated operations and comprehensive (loss) income for the three and nine months ended September 30, 2018 and 2017, and cash flows for the nine months ended September 30, 2018 and 2017. The financial data and other financial information disclosed in the notes to the financial statements related to these periods are also unaudited. The results of operations for the nine months ended September 30, 2018 are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2018 or for any other future annual or interim period. There have been no material changes in the significant accounting policies from those that were disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017 filed with the SEC on March 13, 2018. These financial statements should also be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2017. Certain information and note disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted pursuant to such rules and regulations. The consolidated balance sheet as of December 31, 2017 included herein was derived from the audited financial statements as of that date, but does not include all disclosures required by GAAP. The Company has evaluated subsequent events for recognition or disclosure. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

DIVESTITURE

DIVESTITURE	9 Months Ended
	Sep. 30, 2018
Divestiture
DIVESTITURE	2. DIVESTITURE On June 20, 2018, the Company entered into an asset purchase agreement (the “Purchase Agreement”) with S&P Global Market Intelligence Inc., an affiliate of S&P Global Inc.(“S&P”), pursuant to which the Company agreed to sell the assets comprising its RateWatch business to S&P. The Purchase Agreement provides that S&P will pay an aggregate consideration of $33.5 million in cash to acquire the business, subject to working capital and certain other closing adjustments. Operating results for the RateWatch business, which have been previously included in the Business to Business Segment, have now been reclassified as discontinued operations for all periods presented. Gain on sale of RateWatch amounting to $27.1 million, net of a tax expense of $1.6 million, was calculated as the selling price less direct costs to complete the transaction. Included in such costs is approximately $568 thousand pertaining to certain employee costs that were assumed by the Company as part of the transaction. The following table presents the discontinued operations of RateWatch in the Condensed Consolidated Balance Sheets: ASSETS December 31, 2017 Current Assets: Accounts Receivable, net $ 138,262 Prepaid Expenses and Other Current Assets 91,854 Total Current Assets 230,116 Noncurrent Assets: Property and Equipment, net 659,143 Goodwill 5,851,050 Other Intangibles, net 1,054,413 Total Assets $ 7,794,722 LIABILITIES Current Liabilities: Accounts Payable $ 14,026 Accrued Expenses 75,458 Deferred Revenue 4,106,985 Other Current Liabilities 50,422 Total Current Liabilities 4,246,891 Noncurrent Liabilities: Noncurrent Deferred Rent 462,183 Noncurrent Deferred Revenue 58,323 Deferred Tax Liability 221,350 Total Liabilities $ 4,988,747 The following table presents the discontinued operations of RateWatch in the Condensed Consolidated Statement of Operations: Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Net revenue $ — $ 1,918,543 $ 3,944,302 $ 5,694,057 Operating expense: Cost of services (24 ) 460,051 870,519 1,370,077 Sales and marketing 1,793 295,187 718,299 933,409 General and administrative 96,717 164,804 365,753 492,704 Depreciation and amortization — 237,725 160,293 645,247 Total operating expense 98,486 1,157,767 2,114,864 3,441,437 Operating (loss) income (98,486 ) 760,776 1,829,438 2,252,620 (Provision) benefit for income taxes (31,323 ) 81,812 (103,792 ) 316,337 Net (loss) income $ (129,809 ) $ 842,588 $ 1,725,646 $ 2,568,957 The following table presents the discontinued operations of RateWatch in the Condensed Consolidated Statements of Cash Flows: Nine Months Ended Nine Months Ended September 30, 2018 September 30, 2017 Net cash provided by operating activities $ 2,103,406 $ 3,375,137 Net cash used in investing activities (37,006 ) (10,538 ) Net cash used in financing activities — — Effect of foreign exchange rate changes on cash and cash equivalents — — Net increase in cash, cash equivalents and restricted cash $ 2,066,400 $ 3,364,599

REVENUES

REVENUES	9 Months Ended
	Sep. 30, 2018
Revenues [Abstract]
REVENUES	3. REVENUES Adoption of ASC Topic 606, “Revenue from Contracts with Customers” On January 1, 2018, we adopted Topic 606 using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under Topic 605. The Company recorded an adjustment to opening accumulated deficit of approximately $774 thousand due to the cumulative impact of adopting Topic 606, with the impact primarily related to sales commissions. Nature of our Services Business to business subscription revenue is primarily comprised of subscriptions that provide access to director and officer profiles, relationship capital management services and transactional information pertaining to the mergers and acquisitions environment. Business to consumer subscription revenue is primarily comprised of subscriptions that provide access to securities investment information and stock market commentary. Advertising revenue is comprised of fees charged for the placement of advertising and sponsorships, primarily within TheStreet.com We provide subscription and advertising services on a global basis to a broad range of clients. Our principal source of revenue is derived from fees for subscription services that is sold on an annual or monthly basis. We measure revenue based upon the consideration specified in the client arrangement, and revenue is recognized when the performance obligations in the client arrangement are satisfied. A performance obligation is a promise in a contract to transfer a distinct service to the customer. The transaction price of a contract is allocated to each distinct performance obligation and recognized as revenue when or as, the customer receives the benefit of the performance obligation. Clients typically receive the benefit of our services as they are performed. Under ASC 606, revenue is recognized when a customer obtains control of promised services in an amount that reflects the consideration we expect to receive in exchange for those services. To achieve this core principal, the Company applies the following five steps: 1) Identify the contract with a customer A contract with a customer exists when (i) the Company enters into an enforceable contract with a customer that defines each party’s rights regarding the services to be transferred and identifies the payment terms related to these services, (ii) the contract has commercial substance and, (iii) the Company determines that collection of substantially all consideration for services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration. The Company applies judgment in determining the customer’s ability and intention to pay, which is based on a variety of factors including the customer’s historical payment experience or, in the case of a new customer, published credit and financial information pertaining to the customer. 2) Identify the performance obligations in the contract Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised services, the Company must apply judgment to determine whether promised services are capable of being distinct in the context of the contract. If these criteria are not met the promised services are accounted for as a combined performance obligation. 3) Determine the transaction price The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring services to the customer. 4) Allocate the transaction price to performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. However, if a series of distinct services that are substantially the same qualifies as a single performance obligation in a contract with variable consideration, the Company must determine if the variable consideration is attributable to the entire contract or to a specific part of the contract. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price basis unless the transaction price is variable and meets the criteria to be allocated entirely to a performance obligation or to a distinct service that forms part of a single performance obligation. The Company determines standalone selling price based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. 5) Recognize revenue when or as the Company satisfies a performance obligation The Company satisfies performance obligations either over time or at a point in time. Revenue is recognized at the time the related performance obligation is satisfied by transferring a promised service to a customer. Substantially all of our revenue is recognized over time, as the services are performed. For subscriptions, revenue is recognized ratably over the subscription period. For advertising, revenue is recognized as the advertisement is displayed provided that collection of the resulting receivable is reasonably assured. The following table presents our revenues disaggregated by revenue discipline. For the Three Months Ended For the Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Subscription $ 10,934,315 $ 10,619,614 $ 32,061,595 $ 31,276,063 Advertising 1,507,231 2,168,434 4,823,978 7,324,198 Other 565,682 546,205 2,286,075 2,198,519 Total Revenue $ 13,007,228 $ 13,334,253 $ 39,171,648 $ 40,798,780 Deferred Revenues We record deferred revenues when cash payments are received in advance of our performance, primarily for subscription revenues. The increase in deferred revenues for the nine months ended September 30, 2018 is primarily driven by cash payments received in advance of satisfying our performance obligations. Contract Costs As of September 30, 2018, the Company has a total of $998 thousand in assets relating to costs incurred to obtain or fulfill contracts, consisting predominantly of prepaid commissions. Prepaid commissions are amortized over the average customer relationship period. The amortization expense recognized during the nine months ended September 30, 2018 was $102 thousand. There was no impairment loss recognized during the period. Practical Expedients and Exemptions The Company did not apply any practical expedients during the adoption of ASC 606. The Company elected to use the portfolio method in the calculation of the deferred contract costs.

REVISION OF PRIOR PERIOD FINANC

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS	9 Months Ended
	Sep. 30, 2018
Accounting Changes and Error Corrections [Abstract]
REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS	4. REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS In connection with the preparation of our condensed consolidated financial statements for the quarter ended March 31, 2018, we identified an error as of December 31, 2017 in our recognition of a deferred tax asset related to the change in the tax law, which causes net operating losses (NOL) generated in taxable years ending after December 31, 2017 to have an indefinite carryforward period. This means that a deferred tax liability that has an indefinite reversal pattern may serve as a source of taxable income for those NOLs. The correction of this error requires a reduction to the valuation allowance with a corresponding adjustment to the opening equity balance as this error existed as of December 31, 2017. In accordance with Staff Accounting Bulletin (“SAB”) No. 99, Materiality, and SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements, we evaluated the error and determined that the related impact was not material to our results of operations or financial position for any prior annual or interim period, but that correcting the $926 thousand cumulative impact of the error would be material to our results of operations for the three months ended March 31, 2018. Accordingly, we have corrected the consolidated balance sheets and consolidated statement of operations as of December 31, 2017. There was no impact to cash provided by operations in the consolidated statements of cash flows. This error had no impact on the three months ended March 31, 2018. The impact to the consolidated balance sheets and consolidated statements of operations as of December 31, 2017 is as follows: As of December 31, 2017 Consolidated Balance Sheets As Reported Adjustment As Revised Deferred tax liability $ 1,932,606 $ (925,852 ) $ 1,006,754 Total liabilities 34,989,599 (925,852 ) 34,063,747 Accumulated deficit (207,787,130 ) 925,852 (206,861,278 ) Total stockholders’ equity 34,020,949 925,852 34,946,801 a Consolidated Statements of Operations Benefit for income taxes $ 1,882,310 $ 925,852 $ 2,808,162 Net income 2,626,837 925,852 3,552,689

CASH AND CASH EQUIVALENTS, MARK

CASH AND CASH EQUIVALENTS, MARKETABLE SECURITIES AND RESTRICTED CASH	9 Months Ended
	Sep. 30, 2018
Cash and Cash Equivalents [Abstract]
CASH AND CASH EQUIVALENTS, MARKETABLE SECURITIES AND RESTRICTED CASH	5. CASH AND CASH EQUIVALENTS, MARKETABLE SECURITIES AND RESTRICTED CASH The Company’s cash and cash equivalents and restricted cash primarily consist of checking accounts and money market funds. As of September 30, 2018 and December 31, 2017, marketable securities consist of two municipal auction rate securities (“ARS”) issued by the District of Columbia with a cost basis of approximately $1.9 million and a fair value of approximately $1.8 million and $1.7 million, respectively. With the exception of the ARS, Company policy limits the maximum maturity for any investment to three years. The ARS mature in the year 2038. The Company accounts for its marketable securities in accordance with the provisions of ASC 320-10. The Company classifies these securities as available for sale and the securities are reported at fair value. Unrealized gains and losses are recorded as a component of accumulated other comprehensive income and excluded from net income as they are deemed temporary. Additionally, as of September 30, 2018 and December 31, 2017, the Company has a total of $500 thousand of cash that serves as collateral for an outstanding letter of credit, and which cash is therefore restricted. The letter of credit serves as a security deposit for the Company’s office space in New York City. September 30, 2018 December 31, 2017 Cash and cash equivalents $ 40,833,954 $ 11,684,817 Marketable securities 1,833,535 1,680,000 Restricted cash 500,000 500,000 Total cash and cash equivalents, marketable securities and restricted cash $ 43,167,489 $ 13,864,817

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	6. FAIR VALUE MEASUREMENTS The Company measures the fair value of its financial instruments in accordance with ASC 820-10, which refines the definition of fair value, provides a framework for measuring fair value and expands disclosures about fair value measurements. ASC 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The statement establishes consistency and comparability by providing a fair value hierarchy that prioritizes the inputs to valuation techniques into three broad levels, which are described below: ● Level 1: Inputs are quoted market prices in active markets for identical assets or liabilities (these are observable market inputs). ● Level 2: Inputs other than quoted market prices included within Level 1 that are observable for the asset or liability (includes quoted market prices for similar assets or identical or similar assets in markets in which there are few transactions, prices that are not current or vary substantially). ● Level 3: Inputs are unobservable inputs that reflect the entity’s own assumptions in pricing the asset or liability (used when little or no market data is available). Financial assets and liabilities included in our financial statements and measured at fair value are classified based on the valuation technique level in the table below: As of September 30, 2018 Description: Total Level 1 Level 2 Level 3 Cash and cash equivalents (1) $ 40,833,954 $ 40,833,954 $ — $ — Restricted cash (1) 500,000 500,000 — — Marketable securities (2) 1,833,535 — — 1,833,535 Total at fair value $ 43,167,489 $ 41,333,954 $ — $ 1,833,535 As of December 31, 2017 Description: Total Level 1 Level 2 Level 3 Cash and cash equivalents (1) $ 11,684,817 $ 11,684,817 $ — $ — Restricted cash (1) 500,000 500,000 — — Marketable securities (2) 1,680,000 — — 1,680,000 Contingent earn-out (3) 951,867 — — 951,867 Total at fair value $ 14,816,684 $ 12,184,817 $ — $ 2,631,867 (1) Cash, cash equivalents and restricted cash, totaling approximately $41.3 million and $12.2 million as of September 30, 2018 and December 31, 2017, respectively, consist primarily of checking accounts and money market funds for which we determine fair value through quoted market prices. (2) Marketable securities include two municipal ARS issued by the District of Columbia having a fair value totaling approximately $1.8 million and $1.7 million as of September 30, 2018 and December 31, 2017, respectively. Historically, the fair value of ARS investments approximated par value due to the frequent resets through the auction process. Due to events in credit markets, the auction events, which historically have provided liquidity for these securities, have been unsuccessful. The result of a failed auction is that these ARS holdings will continue to pay interest in accordance with their terms at each respective auction date; however, liquidity of the securities will be limited until there is a successful auction, the issuer redeems the securities, the securities mature or until such time as other markets for these ARS holdings develop. For each of our ARS, we evaluate the risks related to the structure, collateral and liquidity of the investment, and forecast the probability of issuer default, auction failure and a successful auction at par, or a redemption at par, for each future auction period. Temporary impairment charges are recorded in accumulated other comprehensive loss, whereas other-than-temporary impairment charges are recorded in our consolidated statement of operations. As of September 30, 2018, the Company determined there was a cumulative decline in the fair value of its ARS investments of approximately $16 thousand from its cost basis, which was deemed temporary and was included within accumulated other comprehensive (loss) income. (3) Contingent earn-out represented additional purchase consideration payable to the former shareholders of Management Diagnostics Limited based upon the achievement of specific 2017 audited revenue benchmarks. The balance was paid in May 2018. The following tables provide a reconciliation of the beginning and ending balance for the Company’s assets and liabilities measured at fair value using significant unobservable inputs (Level 3): Marketable Securities Balance December 31, 2017 $ 1,680,000 Change in fair value of investment 153,535 Balance September 30, 2018 $ 1,833,535 Contingent Earn-Out Balance December 31, 2017 $ 951,867 Payment made May 2018 (951,867 ) Balance September 30, 2018 $ —

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	7. STOCK-BASED COMPENSATION Stock-based compensation expense recognized in the Company’s consolidated statements of operations for the three and nine months ended September 30, 2018 and 2017 includes compensation expense for all share-based payment awards based upon the estimated grant date fair value. The Company recognizes compensation expense for share-based payment awards on a straight-line basis over the requisite service period of the award. As stock-based compensation expense is based upon awards ultimately expected to vest, it has been reduced for estimated forfeitures. The Company estimates forfeitures at the time of grant which are revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company estimates the value of stock option awards on the date of grant using the Black-Scholes option-pricing model. This determination is affected by the Company’s stock price as well as assumptions regarding expected volatility, risk-free interest rate, and expected dividends. Because option-pricing models require the use of subjective assumptions, changes in these assumptions can materially affect the fair value of the options. The assumptions presented in the table below represent the weighted-average value of the applicable assumption used to value stock option awards at their grant date. In determining the volatility assumption, the Company used a historical analysis of the volatility of the Company’s share price for the preceding period equal to the expected option lives. The expected option lives, which represent the period of time that options granted are expected to be outstanding, were estimated based upon the “simplified” method for “plain-vanilla” options. The risk-free interest rate assumption was based upon observed interest rates appropriate for the term of the Company’s stock option awards. The dividend yield assumption was based on the history and expectation of future dividend payouts. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service period. The Company’s estimate of pre-vesting forfeitures is primarily based on historical experience and is adjusted to reflect actual forfeitures as the options vest. The weighted-average grant date fair value per share of stock option awards granted during the nine months ended September 30, 2018 and 2017 was $0.42 and $0.27, respectively, using the Black-Scholes model with the following weighted-average assumptions: For the Nine Months Ended 2018 2017 Expected option lives 1.78 years 3.7 years Expected volatility 47.28% 37.64% Risk-free interest rate 2.47% 1.55% Expected dividend yield 0.00% 0.00% The value of each restricted stock unit awarded is equal to the closing price per share of the Company’s Common Stock on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods. The weighted-average grant date fair value per share of restricted stock units granted during the nine months ended September 30, 2018 and 2017 was $1.68 and $0.90, respectively. At the Company’s May 2018 Board meeting, the number of shares available for grant was increased by 5.2 million shares. As of September 30, 2018, there remained approximately 3.3 million shares available for future awards under the Company’s 2007 Performance Incentive Plan (the “2007 Plan”). In connection with awards under both the 2007 Plan and awards issued outside of the 2007 Plan as inducement grants to new hires, the Company recorded approximately $797 thousand and $1.7 million of stock-based compensation for the three and nine month periods ended September 30, 2018, respectively, as compared to approximately $401 thousand and $1.2 million of stock-based compensation for the three and nine month periods ended September 30, 2017, respectively. A summary of the activity of the 2007 Plan and awards issued outside of the 2007 Plan pertaining to stock option grants is as follows: Shares Underlying Awards Weighted Average Exercise Price Aggregate Intrinsic Value ($000) Weighted Average Remaining Contractual Life (In Years) Awards outstanding at December 31, 2017 5,491,928 $ 1.46 Options granted 282,333 $ 2.02 Options exercised (8,000 )) $ 1.20 Options forfeited (182,752 ) $ 2.15 Options expired (1,816,502 ) $ 1.80 Awards outstanding at September 30, 2018 3,767,007 $ 1.30 $ 3,393 4.32 Awards outstanding, vested and expected to vest at September 30, 2018 3,758,212 $ 1.30 $ 3,383 4.31 Awards exercisable at September 30, 2018 2,891,515 $ 1.33 $ 2,535 4.10 A summary of the activity of the 2007 Plan pertaining to grants of restricted stock units is as follows: Shares Underlying Awards Aggregate Intrinsic Value ($000) Weighted Average Remaining Contractual Life (In Years) Awards outstanding at December 31, 2017 446,668 Restricted stock units granted 3,149,720 Restricted stock units settled by delivery of Common Stock upon vesting (430,838 ) Restricted stock units forfeited (64,722 ) Awards outstanding at September 30, 2018 3,100,828 $ 6,822 2.42 Awards expected to vest at September 30, 2018 3,004,078 $ 6,609 1.62 A summary of the status of the Company’s unvested stock-based awards as of September 30, 2018 and changes in the nine months then ended is as follows: Unvested Awards Number of Shares Weighted Average Grant Date Fair Value Shares underlying awards unvested at December 31, 2017 2,131,135 $ 0.48 Shares underlying options granted 282,333 $ 0.42 Shares underlying restricted stock units granted 3,149,720 $ 1.68 Shares underlying options vested (1,087,556 ) $ 0.34 Shares underlying restricted stock units settled by delivery of Common Stock upon vesting (430,838 ) $ 0.95 Shares underlying options forfeited (3,752 ) $ 0.43 Shares underlying restricted stock units forfeited (64,722 ) $ 1.72 Shares underlying awards unvested at September 30, 2018 3,976,320 $ 1.40 For the nine months ended September 30, 2018 and 2017, the total fair value of stock option awards vested was approximately $492 thousand and $952 thousand, respectively. For the nine months ended September 30, 2018 and 2017, the total intrinsic value of options exercised was $8 thousand and $0, respectively (there were no options exercised during the nine months ended September 30, 2017), yielding $10 thousand of cash proceeds to the Company. For the nine months ended September 30, 2018 and 2017, approximately 282 thousand and 135 thousand stock options were granted, respectively. Additionally, for the nine months ended September 30, 2018 and 2017, approximately 3.1 million and 566 thousand restricted stock units were granted, respectively, and approximately 431 thousand and 467 thousand shares, respectively, were issued under restricted stock unit grants. For the nine months ended September 30, 2018 and 2017, the total intrinsic value of restricted stock units that vested was approximately $773 thousand and $409 thousand, respectively. As of September 30, 2018 and 2017, the total intrinsic value of awards outstanding was approximately $10.2 million and $879 thousand, respectively. As of September 30, 2018, there was approximately $4.4 million of unrecognized stock-based compensation expense remaining to be recognized over a weighted-average period of 2.31 years.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	8. STOCKHOLDERS’ EQUITY Treasury Stock In November 2017, our Board of Directors approved a new share buyback program authorizing the repurchase of up to five million shares of the Company’s Common Stock (the “Program”). Purchases may be made in the open market or in privately negotiated transactions as deemed appropriate by management. The Company may, among other things, utilize existing cash reserves and cash flows from operations to fund any repurchases. The timing and amount of any repurchases will be determined by the Company’s management based upon its evaluation of the trading prices of the security, market conditions and other factors. The Program does not obligate the Company to repurchase any dollar amount or number of shares and may be extended, modified, suspended or discontinued at any time. During the three months ended September 30, 2018, the Company did not purchase any shares of Common Stock under the Program. During the nine months ended September 30, 2018, and since the Program’s inception in November 2017, the Company purchased a total of 1,105 shares of Common Stock under the Program at an aggregate cost of approximately $1,415, inclusive of commissions. In addition, pursuant to the terms of the Company’s 2007 Plan, and certain procedures approved by the Compensation Committee of the Board of Directors, in connection with the exercise of stock options by certain of the Company’s employees, and the issuance of shares of Common Stock in settlement of vested restricted stock units, the Company may withhold shares in lieu of payment of the exercise price and/or the minimum amount of applicable withholding taxes then due. During the nine months ended September 30, 2018, 10,043 shares were withheld in settlement of the exercise of stock options and vested restricted stock units. Through September 30, 2018, the Company had withheld an aggregate of 2,055,108 shares which have been recorded as treasury stock. In addition, the Company received an aggregate of 211,608 shares in treasury stock resulting from prior acquisitions. These shares have also been recorded as treasury stock. Dividends Beginning with the first quarter of 2016, the Company’s Board of Directors suspended the payment of a quarterly dividend and will continue to evaluate the uses of its cash in connection with planned investments in the business.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS	9. LEGAL PROCEEDINGS The Company is party to legal proceedings arising in the ordinary course of business or otherwise, none of which is deemed material.

NET (LOSS) INCOME PER SHARE OF

NET (LOSS) INCOME PER SHARE OF COMMON STOCK	9 Months Ended
	Sep. 30, 2018
Net (loss) income per share:
NET (LOSS) INCOME PER SHARE OF COMMON STOCK	10. NET (LOSS) INCOME PER SHARE OF COMMON STOCK Basic net loss per share is computed using the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed using the weighted average number of common shares and potential common shares outstanding during the period, so long as the inclusion of potential common shares does not result in a lower net loss per share. Potential common shares consist of restricted stock units (using the treasury stock method) and the incremental common shares issuable upon the exercise of stock options (using the treasury stock method). For the three months ended September 30, 2018, approximately 6.7 million restricted stock units and vested and unvested stock options were excluded from the calculation, as their effect would result in a lower net loss per share. For the nine months ended September 30, 2017, approximately 569 thousand unvested restricted stock units and vested and unvested stock options were excluded from the calculation, as their effect would result in a lower net loss per share. The following table reconciles the numerator and denominator for the calculation. For the Three Months Ended For the Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Basic and diluted net (loss) income per share: Numerator: Net (loss) income attributable to common stockholders $ (1,811,951 ) $ 189,869 $ 25,022,334 $ (592,827 ) Denominator: Weighted average basic shares outstanding 49,600,837 35,869,751 49,362,018 35,710,049 Weighted average diluted shares outstanding 49,600,837 36,142,548 50,695,450 35,710,049 Net (loss) income per share: Basic net (loss) income attributable to common stockholders $ (0.04 ) $ 0.01 $ 0.51 $ (0.02 ) Diluted net (loss) income attributable to common stockholders $ (0.04 ) $ 0.01 $ 0.49 $ (0.02 )

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	11. INCOME TAXES The income tax benefit from continuing operations for the three months ended September 30, 2018 was approximately $775 thousand and income tax benefit for the nine months ended September 30, 2018 was approximately $1.1 million, and reflects an effective tax rate of 40.7% and 22.3%, respectively, as compared to an expense of approximately $194 thousand and $802 thousand for the three and nine months ended September 30, 2017, respectively, reflecting an effective tax rate of approximately -42.2% and -34.0%, respectively. The Company’s effective tax rate (ETR) for the three and nine months ended September 30, 2018 was primarily impacted by the mix of domestic and foreign earnings, the election to treat the UK as a disregarded entity for US tax purposes, certain foreign taxes and the movement in the deferred tax liability related to the tax amortization of goodwill. During the three months ended June 30, 2018, the Company made certain adjustments to the beginning balance of the state deferred tax liability which resulted in a $272 thousand discrete tax benefit for domestic losses, as the US taxable income from discontinued operations is treated as a source of income to realize such losses under the intra-period allocation guidance. The Company’s ETR for the three and nine months ended September 30, 2017 was primarily impacted by the mix of domestic and foreign earnings, the election to treat the UK as a disregarded entity for US tax purposes and the movement in the deferred tax liability related to the tax amortization of goodwill. The Company accounts for its income taxes in accordance with ASC 740-10, Income Taxes The Company had approximately $173 million of federal and state net operating loss carryforwards (“NOL”) as of December 31, 2017. The Company has a full valuation allowance against its U.S. deferred tax assets as management concluded that it was more likely than not that the Company would not realize the benefit of its deferred tax assets by generating sufficient taxable income in future years. The Company expects to continue to provide a full valuation allowance until, or unless, it can sustain a level of profitability that demonstrates its ability to utilize these assets. The ability of the Company to utilize its NOL in full to reduce future taxable income may become subject to various limitations under Section 382 of the Internal Revenue Code of 1986. The utilization of such carryforwards may be limited upon the occurrence of certain ownership changes, including the purchase and sale of stock by 5% shareholders and the offering of stock by the Company during any three-year period resulting in an aggregate change of more than 50% of the beneficial ownership of the Company. In the event of an ownership change, Section 382 imposes an annual limitation on the amount of these carryforwards that can reduce future taxable income. Subject to potential Section 382 limitations, the federal losses are available to offset future taxable income through 2037 and expire from 2019 through 2037. Since the Company does business in various states and each state has its own rules with respect to the number of years losses may be carried forward, the state net operating loss carryforwards expire through 2037. The company also has approximately $10.5 million in U.K. NOLs as of December 31, 2017. During the fourth quarter ended December 31, 2017, the Company released its U.K. valuation allowance as it was concluded that this entity has cumulative income over the last three years and Management believes it is more likely than not that the deferred tax asset will be utilized. In June 2018, the U.S. Supreme Court decided the South Dakota v. Wayfair, Inc. At September 30, 2018, the Company has no uncertain tax positions or interest and penalties accrued pursuant to ASC 740-10.

BUSINESS CONCENTRATIONS AND CRE

BUSINESS CONCENTRATIONS AND CREDIT RISK	9 Months Ended
	Sep. 30, 2018
Risks and Uncertainties [Abstract]
BUSINESS CONCENTRATIONS AND CREDIT RISK	12. BUSINESS CONCENTRATIONS AND CREDIT RISK Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents and restricted cash. The Company maintains all of its cash, cash equivalents and restricted cash in federally insured financial institutions and performs periodic evaluations of the relative credit standing of these institutions. As of September 30, 2018 and 2017, the Company’s cash, cash equivalents and restricted cash primarily consisted of checking accounts and money market funds. For the three and nine months ended September 30, 2018 and 2017, no individual client accounted for 10% or more of consolidated revenue. As of September 30, 2018, and December 31, 2017, one individual client accounted for more than 10% of our gross accounts receivable balance. The Company’s customers are primarily concentrated in the United States and Europe, and we carry accounts receivable balances. The Company performs ongoing credit evaluations, generally does not require collateral, and establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of customers, historical trends and other information. To date, actual losses have been within management’s expectations.

RESTRUCTURING AND OTHER CHARGES

RESTRUCTURING AND OTHER CHARGES	9 Months Ended
	Sep. 30, 2018
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND OTHER CHARGES	13. RESTRUCTURING AND OTHER CHARGES During the three months ended March 31, 2017, the Company implemented a targeted reduction in force which resulted in restructuring and other charges of approximately $199 thousand.

OTHER LIABILITIES

OTHER LIABILITIES	9 Months Ended
	Sep. 30, 2018
Other Liabilities Disclosure [Abstract]
OTHER LIABILITIES	14. OTHER LIABILITIES Other liabilities consist of the following: September 30, 2018 December 31, 2017 Deferred revenue $ 1,033,812 $ 629,309 Deferred rent 710,840 912,201 Other — 2,092 Total other liabilities $ 1,744,652 $ 1,543,602

SEGMENT AND GEOGRAPHIC DATA

SEGMENT AND GEOGRAPHIC DATA	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHIC DATA	15. SEGMENT AND GEOGRAPHIC DATA Segments Effective October 1, 2016 as a result of organizational changes related to our new management team, we changed our financial reporting to better reflect how we gather and analyze business and financial information about our businesses. We now report our results in two segments: (i) business to business, which is primarily comprised of The Deal and BoardEx, and (ii) business to consumer, which is primarily comprised of the Company’s premium subscription newsletter products and website advertising. Results were as follows: For the Three Months Ended For the Nine Months Ended September 30, September 30, Revenue: 2018 2017 2018 2017 - Business to business $ 6,274,824 $ 5,951,581 $ 18,866,397 $ 17,418,252 - Business to consumer 6,732,404 7,382,672 20,305,251 23,380,528 Total $ 13,007,228 $ 13,334,253 $ 39,171,648 $ 40,798,780 Operating (loss) income: - Business to business $ (766,477 ) $ (613,860 ) $ (1,820,414 ) $ (2,157,859 ) - Business to consumer (1,171,286 ) 146,635 (3,114,899 ) (227,900 ) Total $ (1,937,763 ) $ (467,225 ) $ (4,935,313 ) $ (2,385,759 ) Due to the nature of the Company’s operations, a majority of its assets are utilized across both segments. In addition, segment assets are not reported to, or used by, the Chief Operating Decision Maker to allocate resources or assess performance of the Company’s segments. Accordingly, the Company has not disclosed asset information by segment. Geographic Data During the nine months ended September 30, 2018 and 2017, substantially all of the Company’s revenue was from customers in the United States and substantially all of our long-lived assets are located in the United States. The remainder of the Company’s revenue and its long-lived assets are a result of our BoardEx operations outside of the United States, which is headquartered in London, England.

DESCRIPTION OF THE BUSINESS A_2

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unaudited Interim Financial Statements	Unaudited Interim Financial Statements The interim condensed consolidated balance sheet as of September 30, 2018, the condensed consolidated statements of operations and comprehensive (loss) income for the three and nine months ended September 30, 2018 and 2017, and the condensed statements of cash flows for the nine months ended September 30, 2018 and 2017 are unaudited. The unaudited interim financial statements have been prepared on a basis consistent with the Company’s annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments necessary to state fairly the Company’s financial position as of September 30, 2018, its results of consolidated operations and comprehensive (loss) income for the three and nine months ended September 30, 2018 and 2017, and cash flows for the nine months ended September 30, 2018 and 2017. The financial data and other financial information disclosed in the notes to the financial statements related to these periods are also unaudited. The results of operations for the nine months ended September 30, 2018 are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2018 or for any other future annual or interim period. There have been no material changes in the significant accounting policies from those that were disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017 filed with the SEC on March 13, 2018. These financial statements should also be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2017. Certain information and note disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted pursuant to such rules and regulations. The consolidated balance sheet as of December 31, 2017 included herein was derived from the audited financial statements as of that date, but does not include all disclosures required by GAAP. The Company has evaluated subsequent events for recognition or disclosure.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

DIVESTITURE (Tables)

DIVESTITURE (Tables)	9 Months Ended
	Sep. 30, 2018
Divestiture
Schedule of discontinued operations of ratewatch in the condensed consolidated balance sheets	The following table presents the discontinued operations of RateWatch in the Condensed Consolidated Balance Sheets: ASSETS December 31, 2017 Current Assets: Accounts Receivable, net $ 138,262 Prepaid Expenses and Other Current Assets 91,854 Total Current Assets 230,116 Noncurrent Assets: Property and Equipment, net 659,143 Goodwill 5,851,050 Other Intangibles, net 1,054,413 Total Assets $ 7,794,722 LIABILITIES Current Liabilities: Accounts Payable $ 14,026 Accrued Expenses 75,458 Deferred Revenue 4,106,985 Other Current Liabilities 50,422 Total Current Liabilities 4,246,891 Noncurrent Liabilities: Noncurrent Deferred Rent 462,183 Noncurrent Deferred Revenue 58,323 Deferred Tax Liability 221,350 Total Liabilities $ 4,988,747
Schedule of discontinued operations of rate watch in the condensed consolidated statement of operations	The following table presents the discontinued operations of RateWatch in the Condensed Consolidated Statement of Operations: Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Net revenue $ — $ 1,918,543 $ 3,944,302 $ 5,694,057 Operating expense: Cost of services (24 ) 460,051 870,519 1,370,077 Sales and marketing 1,793 295,187 718,299 933,409 General and administrative 96,717 164,804 365,753 492,704 Depreciation and amortization — 237,725 160,293 645,247 Total operating expense 98,486 1,157,767 2,114,864 3,441,437 Operating (loss) income (98,486 ) 760,776 1,829,438 2,252,620 (Provision) benefit for income taxes (31,323 ) 81,812 (103,792 ) 316,337 Net (loss) income $ (129,809 ) $ 842,588 $ 1,725,646 $ 2,568,957
Schedule of discontinued operations of rate watch in the condensed consolidated statements of cash flows	The following table presents the discontinued operations of RateWatch in the Condensed Consolidated Statements of Cash Flows: Nine Months Ended Nine Months Ended September 30, 2018 September 30, 2017 Net cash provided by operating activities $ 2,103,406 $ 3,375,137 Net cash used in investing activities (37,006 ) (10,538 ) Net cash used in financing activities — — Effect of foreign exchange rate changes on cash and cash equivalents — — Net increase in cash, cash equivalents and restricted cash $ 2,066,400 $ 3,364,599

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
	Sep. 30, 2018
Revenues [Abstract]
Schedule of revenues disaggregated by revenue discipline	The following table presents our revenues disaggregated by revenue discipline. For the Three Months Ended For the Six Months Ended June 30, June 30, 2018 2017 2018 2017 Subscription $ 10,729,488 $ 10,399,141 $ 21,127,280 $ 20,656,449 Advertising 1,589,961 2,665,658 3,316,747 5,155,764 Other 1,269,828 992,873 1,720,393 1,652,314 Total Revenue $ 13,589,277 $ 14,057,672 $ 26,164,420 $ 27,464,527

REVISION OF PRIOR PERIOD FINA_2

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
Accounting Changes and Error Corrections [Abstract]
Schedule of revision of prior period financial statements	The impact to the consolidated balance sheets and consolidated statements of operations as of December 31, 2017 is as follows: As of December 31, 2017 Consolidated Balance Sheets As Reported Adjustment As Revised Deferred tax liability $ 1,932,606 $ (925,852 ) $ 1,006,754 Total liabilities 34,989,599 (925,852 ) 34,063,747 Accumulated deficit (207,787,130 ) 925,852 (206,861,278 ) Total stockholders’ equity 34,020,949 925,852 34,946,801 Consolidated Statements of Operations Benefit for income taxes $ 1,882,310 $ 925,852 $ 2,808,162 Net income 2,626,837 925,852 3,552,689

CASH AND CASH EQUIVALENTS, MA_2

CASH AND CASH EQUIVALENTS, MARKETABLE SECURITIES AND RESTRICTED CASH (Tables)	9 Months Ended
	Sep. 30, 2018
Cash and Cash Equivalents [Abstract]
Schedule of cash and cash equivalents marketable securities and restricted cash	Additionally, as of September 30, 2018 and December 31, 2017, the Company has a total of $500 thousand of cash that serves as collateral for an outstanding letter of credit, and which cash is therefore restricted. The letter of credit serves as a security deposit for the Company’s office space in New York City. September 30, 2018 December 31, 2017 Cash and cash equivalents $ 40,833,954 $ 11,684,817 Marketable securities 1,833,535 1,680,000 Restricted cash 500,000 500,000 Total cash and cash equivalents, marketable securities and restricted cash $ 43,167,489 $ 13,864,817

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of fair value measurements based on valuation technique	Financial assets and liabilities included in our financial statements and measured at fair value are classified based on the valuation technique level in the table below: As of September 30, 2018 Description: Total Level 1 Level 2 Level 3 Cash and cash equivalents (1) $ 40,833,954 $ 40,833,954 $ — $ — Restricted cash (1) 500,000 500,000 — — Marketable securities (2) 1,833,535 — — 1,833,535 Total at fair value $ 43,167,489 $ 41,333,954 $ — $ 1,833,535 As of December 31, 2017 Description: Total Level 1 Level 2 Level 3 Cash and cash equivalents (1) $ 11,684,817 $ 11,684,817 $ — $ — Restricted cash (1) 500,000 500,000 — — Marketable securities (2) 1,680,000 — — 1,680,000 Contingent earn-out (3) 951,867 — — 951,867 Total at fair value $ 14,816,684 $ 12,184,817 $ — $ 2,631,867 (1) Cash, cash equivalents and restricted cash, totaling approximately $41.3 million and $12.2 million as of September 30, 2018 and December 31, 2017, respectively, consist primarily of checking accounts and money market funds for which we determine fair value through quoted market prices. (2) Marketable securities include two municipal ARS issued by the District of Columbia having a fair value totaling approximately $1.8 million and $1.7 million as of September 30, 2018 and December 31, 2017, respectively. Historically, the fair value of ARS investments approximated par value due to the frequent resets through the auction process. Due to events in credit markets, the auction events, which historically have provided liquidity for these securities, have been unsuccessful. The result of a failed auction is that these ARS holdings will continue to pay interest in accordance with their terms at each respective auction date; however, liquidity of the securities will be limited until there is a successful auction, the issuer redeems the securities, the securities mature or until such time as other markets for these ARS holdings develop. For each of our ARS, we evaluate the risks related to the structure, collateral and liquidity of the investment, and forecast the probability of issuer default, auction failure and a successful auction at par, or a redemption at par, for each future auction period. Temporary impairment charges are recorded in accumulated other comprehensive loss, whereas other-than-temporary impairment charges are recorded in our consolidated statement of operations. As of September 30, 2018, the Company determined there was a cumulative decline in the fair value of its ARS investments of approximately $16 thousand from its cost basis, which was deemed temporary and was included within accumulated other comprehensive (loss) income. (3) Contingent earn-out represented additional purchase consideration payable to the former shareholders of Management Diagnostics Limited based upon the achievement of specific 2017 audited revenue benchmarks. The balance was paid in May 2018.
Schedule of assets and liabilities fair value using significant unobservable inputs (Level 3)	The following tables provide a reconciliation of the beginning and ending balance for the Company’s assets and liabilities measured at fair value using significant unobservable inputs (Level 3): Marketable Securities Balance December 31, 2017 $ 1,680,000 Change in fair value of investment 153,535 Balance September 30, 2018 $ 1,833,535 Contingent Earn-Out Balance December 31, 2017 $ 951,867 Payment made May 2018 (951,867 ) Balance September 30, 2018 $ —

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of valuation assumptions	The weighted-average grant date fair value per share of stock option awards granted during the nine months ended September 30, 2018 and 2017 was $0.42 and $0.27, respectively, using the Black-Scholes model with the following weighted-average assumptions: For the Nine Months Ended 2018 2017 Expected option lives 1.78 years 3.7 years Expected volatility 47.28% 37.64% Risk-free interest rate 2.47% 1.55% Expected dividend yield 0.00% 0.00%
Schedule of stock option activity	A summary of the activity of the 2007 Plan and awards issued outside of the 2007 Plan pertaining to stock option grants is as follows: Shares Underlying Awards Weighted Average Exercise Price Aggregate Intrinsic Value ($000) Weighted Average Remaining Contractual Life (In Years) Awards outstanding at December 31, 2017 5,491,928 $ 1.46 Options granted 282,333 $ 2.02 Options exercised (8,000 )) $ 1.20 Options forfeited (182,752 ) $ 2.15 Options expired (1,816,502 ) $ 1.80 Awards outstanding at September 30, 2018 3,767,007 $ 1.30 $ 3,393 4.32 Awards outstanding, vested and expected to vest at September 30, 2018 3,758,212 $ 1.30 $ 3,383 4.31 Awards exercisable at September 30, 2018 2,891,515 $ 1.33 $ 2,535 4.10
Schedule of restricted stock units	A summary of the activity of the 2007 Plan pertaining to grants of restricted stock units is as follows: Shares Underlying Awards Aggregate Intrinsic Value ($000) Weighted Average Remaining Contractual Life (In Years) Awards outstanding at December 31, 2017 446,668 Restricted stock units granted 3,149,720 Restricted stock units settled by delivery of Common Stock upon vesting (430,838 ) Restricted stock units forfeited (64,722 ) Awards outstanding at September 30, 2018 3,100,828 $ 6,822 2.42 Awards expected to vest at September 30, 2018 3,004,078 $ 6,609 1.62
Schedule of unvested awards	A summary of the status of the Company’s unvested stock-based awards as of September 30, 2018 and changes in the nine months then ended is as follows: Unvested Awards Number of Shares Weighted Average Grant Date Fair Value Shares underlying awards unvested at December 31, 2017 2,131,135 $ 0.48 Shares underlying options granted 282,333 $ 0.42 Shares underlying restricted stock units granted 3,149,720 $ 1.68 Shares underlying options vested (1,087,556 ) $ 0.34 Shares underlying restricted stock units settled by delivery of Common Stock upon vesting (430,838 ) $ 0.95 Shares underlying options forfeited (3,752 ) $ 0.43 Shares underlying restricted stock units forfeited (64,722 ) $ 1.72 Shares underlying awards unvested at September 30, 2018 3,976,320 $ 1.40

NET (LOSS) INCOME PER SHARE O_2

NET (LOSS) INCOME PER SHARE OF COMMON STOCK (Tables)	9 Months Ended
	Sep. 30, 2018
Net (loss) income per share:
Schedule of net income (loss) per share	The following table reconciles the numerator and denominator for the calculation. For the Three Months Ended For the Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Basic and diluted net (loss) income per share: Numerator: Net (loss) income attributable to common stockholders $ (1,811,951 ) $ 189,869 $ 25,022,334 $ (592,827 ) Denominator: Weighted average basic shares outstanding 49,600,837 35,869,751 49,362,018 35,710,049 Weighted average diluted shares outstanding 49,600,837 36,142,548 50,695,450 35,710,049 Net (loss) income per share: Basic net (loss) income attributable to common stockholders $ (0.04 ) $ 0.01 $ 0.51 $ (0.02 ) Diluted net (loss) income attributable to common stockholders $ (0.04 ) $ 0.01 $ 0.49 $ (0.02 )

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2018
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract]
Schedule of other liabilities	Other liabilities consist of the following: September 30, 2018 December 31, 2017 Deferred revenue $ 1,033,812 $ 629,309 Deferred rent 710,840 912,201 Other — 2,092 Total other liabilities $ 1,744,652 $ 1,543,602

SEGMENT AND GEOGRAPHIC DATA (Ta

SEGMENT AND GEOGRAPHIC DATA (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Schedule of segment reporting	We now report our results in two segments: (i) business to business, which is primarily comprised of The Deal and BoardEx, and (ii) business to consumer, which is primarily comprised of the Company’s premium subscription newsletter products and website advertising. Results were as follows: For the Three Months Ended For the Nine Months Ended September 30, September 30, Revenue: 2018 2017 2018 2017 - Business to business $ 6,274,824 $ 5,951,581 $ 18,866,397 $ 17,418,252 - Business to consumer 6,732,404 7,382,672 20,305,251 23,380,528 Total $ 13,007,228 $ 13,334,253 $ 39,171,648 $ 40,798,780 Operating (loss) income: - Business to business $ (766,477 ) $ (613,860 ) $ (1,820,414 ) $ (2,157,859 ) - Business to consumer (1,171,286 ) 146,635 (3,114,899 ) (227,900 ) Total $ (1,937,763 ) $ (467,225 ) $ (4,935,313 ) $ (2,385,759 )

DIVESTITURE (Details)

DIVESTITURE (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Current Assets:
Total Current Assets		$ 230,116
Current Liabilities:
Total Current Liabilities		4,246,891
RateWatch [Member]
Current Assets:
Accounts Receivable, net		138,262
Prepaid Expenses and Other Current Assets		91,854
Total Current Assets		230,116
Noncurrent Assets:
Property and Equipment, net		659,143
Goodwill		5,851,050
Other Intangibles, net		1,054,413
Total Assets		7,794,722
Current Liabilities:
Accounts Payable		14,026
Accrued Expenses		75,458
Deferred Revenue		4,106,985
Other Current Liabilities		50,422
Total Current Liabilities		4,246,891
Noncurrent Liabilities:
Noncurrent Deferred Rent		462,183
Noncurrent Deferred Revenue		58,323
Deferred Tax Liability		221,350
Total Liabilities		$ 4,988,747

DIVESTITURE (Details 1)

DIVESTITURE (Details 1) - RateWatch [Member] - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net revenue		$ 1,918,543	$ 3,944,302	$ 5,694,057
Operating expense:
Cost of services	(24)	460,051	870,519	1,370,077
Sales and marketing	1,793	295,187	718,299	933,409
General and administrative	96,717	164,804	365,753	492,704
Depreciation and amortization		237,725	160,293	645,247
Total operating expense	98,486	1,157,767	2,114,864	3,441,437
Operating (loss) income	(98,486)	760,776	1,829,438	2,252,620
(Provision) benefit for income taxes	(31,323)	81,812	(103,792)	316,337
Net (loss) income	$ (129,809)	$ 842,588	$ 1,725,646	$ 2,568,957

DIVESTITURE (Details 2)

DIVESTITURE (Details 2) - RateWatch [Member] - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Net cash provided by operating activities	$ 2,103,406	$ 3,375,137
Net cash used in investing activities	(37,006)	(10,538)
Net cash used in financing activities
Effect of foreign exchange rate changes on cash and cash equivalents
Net increase in cash, cash equivalents and restricted cash	$ 2,066,400	$ 3,364,599

DIVESTITURE (Details Narrative)

DIVESTITURE (Details Narrative) - USD ($)	Jun. 20, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Gain on sale of business, net of tax		$ (551,752)		$ 27,067,071
Purchase Agreement [Member] | S&P Global Market Intelligence Inc [Member] | RateWatch [Member]
Consideration	$ 33,500,000
Severance cost	$ 568,000
Gain on sale of business, net of tax				27,618,823
Selling price less direct costs				$ 1,600,000

REVENUES (Details)

REVENUES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Total revenue	$ 13,007,228	$ 13,334,253	$ 39,171,648	$ 40,798,780
Subscription [Member]
Total revenue	10,934,315	10,619,614	32,061,595	31,276,063
Advertising [Member]
Total revenue	1,507,231	2,168,434	4,823,978	7,324,198
Other [Member]
Total revenue	$ 565,682	$ 546,205	$ 2,286,075	$ 2,198,519

REVENUES (Details Narrative)

REVENUES (Details Narrative)	Sep. 30, 2018USD ($)
Revenues [Abstract]
Adjustment to opening accumulated deficit	$ 774,000
Amortization expense	102,000
Assets relating to costs incurred to obtain or fulfill contracts	$ 988,000

REVISION OF PRIOR PERIOD FINA_3

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Deferred tax liability	$ 1,046,387		$ 1,046,387		$ 803,917
Total liabilities	31,316,114		31,316,114		34,063,747
Accumulated deficit	(181,065,089)		(181,065,089)		(206,861,278)
Total stockholders' equity	62,020,776		62,020,776		34,946,801
Benefit for income taxes	(775,014)	$ 193,662	(1,083,763)	$ 802,249
Net income	$ (1,811,951)	$ 189,869	$ 25,022,334	$ (592,827)
As Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Deferred tax liability					1,932,606
Total liabilities					34,989,599
Accumulated deficit					(207,787,130)
Total stockholders' equity					34,020,949
Benefit for income taxes					1,882,310
Net income					2,626,837
Adjustment [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Deferred tax liability					(925,852)
Total liabilities					(925,852)
Accumulated deficit					925,852
Total stockholders' equity					925,852
Benefit for income taxes					925,852
Net income					925,852
As Revised [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Deferred tax liability					1,006,754
Total liabilities					34,063,747
Accumulated deficit					(206,861,278)
Total stockholders' equity					34,946,801
Benefit for income taxes					2,808,162
Net income					$ 3,552,689

CASH AND CASH EQUIVALENTS, MA_3

CASH AND CASH EQUIVALENTS, MARKETABLE SECURITIES AND RESTRICTED CASH (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 40,833,954	$ 11,684,817
Marketable securities	1,833,535	1,680,000
Restricted cash	500,000	500,000
Total cash and cash equivalents, marketable securities and restricted cash	$ 43,167,489	$ 13,864,817

CASH AND CASH EQUIVALENTS, MA_4

CASH AND CASH EQUIVALENTS, MARKETABLE SECURITIES AND RESTRICTED CASH (Details Narrative)	12 Months Ended
	Dec. 31, 2017USD ($)Securities	Sep. 30, 2018USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Marketable securities at fair value	$ 1,680,000	$ 1,833,535
Cash as collateral for outstanding letters of credit	$ 500,000	500,000
Auction Rate Securities [Member]
Debt and Equity Securities, FV-NI [Line Items]
Securities | Securities	2
Marketable securities at cost basic	$ 1,900,000
Marketable securities at fair value	$ 1,800,000	$ 1,700,000
Maturity year	2,038

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)		Sep. 30, 2018	Dec. 31, 2017
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	[1]	$ 40,833,954	$ 11,684,817
Restricted cash	[1]	500,000	500,000
Marketable securities	[2]
Contingent earn-out	[3]
Total at fair value		41,333,954	12,184,817
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	[1]
Restricted cash	[1]
Marketable securities	[2]
Contingent earn-out	[3]
Total at fair value
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	[1]
Restricted cash	[1]
Marketable securities	[2]	1,833,535	1,680,000
Contingent earn-out	[3]		951,867
Total at fair value		1,833,535	2,631,867
Total [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	[1]	40,833,954	11,684,817
Restricted cash	[1]	500,000	500,000
Marketable securities	[2]	1,833,535	1,680,000
Contingent earn-out	[3]		951,867
Total at fair value		$ 43,167,489	$ 14,816,684
[1]	Cash, cash equivalents and restricted cash, totaling approximately $41.3 million and $12.2 million as of September 30, 2018 and December 31, 2017, respectively, consist primarily of checking accounts and money market funds for which we determine fair value through quoted market prices.
[2]	Marketable securities include two municipal ARS issued by the District of Columbia having a fair value totaling approximately $1.8 million and $1.7 million as of September 30, 2018 and December 31, 2017, respectively. Historically, the fair value of ARS investments approximated par value due to the frequent resets through the auction process. Due to events in credit markets, the auction events, which historically have provided liquidity for these securities, have been unsuccessful. The result of a failed auction is that these ARS holdings will continue to pay interest in accordance with their terms at each respective auction date; however, liquidity of the securities will be limited until there is a successful auction, the issuer redeems the securities, the securities mature or until such time as other markets for these ARS holdings develop. For each of our ARS, we evaluate the risks related to the structure, collateral and liquidity of the investment, and forecast the probability of issuer default, auction failure and a successful auction at par, or a redemption at par, for each future auction period. Temporary impairment charges are recorded in accumulated other comprehensive loss, whereas other-than-temporary impairment charges are recorded in our consolidated statement of operations. As of September 30, 2018, the Company determined there was a cumulative decline in the fair value of its ARS investments of approximately $16 thousand from its cost basis, which was deemed temporary and was included within accumulated other comprehensive (loss) income.
[3]	Contingent earn-out represented additional purchase consideration payable to the former shareholders of Management Diagnostics Limited based upon the achievement of specific 2017 audited revenue benchmarks. The balance was paid in May 2018.

FAIR VALUE MEASUREMENTS (Deta_2

FAIR VALUE MEASUREMENTS (Details 1)	9 Months Ended
	Sep. 30, 2018USD ($)
Contingent Earn-Out [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of the period	$ 951,867
Payment made May 2018	(951,867)
Balance at end of the period
Marketable Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of the period	1,680,000
Change in fair value of investment	153,535
Balance at end of the period	$ 1,833,535

FAIR VALUE MEASUREMENTS (Deta_3

FAIR VALUE MEASUREMENTS (Details Narrative) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Debt and Equity Securities, FV-NI [Line Items]
Cash and cash equivalents and restricted cash	$ 41,300,000	$ 12,200,000
Marketable securities, fair value	1,833,535	1,680,000
Auction Rate Securities [Member]
Debt and Equity Securities, FV-NI [Line Items]
Marketable securities, fair value	1,800,000	$ 1,700,000
Decline in fair value of ARS	$ 16,000

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected option lives	P1Y9M11D	P3Y8M12D
Expected volatility	47.28%	37.64%
Risk-free interest rate	2.47%	1.55%
Expected dividend yield	0.00%	0.00%

STOCK-BASED COMPENSATION (Det_2

STOCK-BASED COMPENSATION (Details 1) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options granted	282,333	135,000
2007 Performance Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Awards outstanding at beginning	5,491,928
Options granted	282,333
Options exercised	(8,000)
Options forfeited	(182,752)
Options expired	(1,816,502)
Awards outstanding at ending	3,767,007
Awards outstanding vested and expected to vest at ending	3,758,212
Awards exercisable at ending	2,891,515
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Awards outstanding at beginning	$ 1.46
Options granted	2.02
Options exercised	1.20
Options forfeited	2.15
Options expired	1.80
Awards outstanding at ending	1.30
Awards outstanding vested and expected to vest at ending	1.30
Awards exercisable at ending	$ 1.33
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Aggregate Intrinsic Value [Roll Forward]
Awards outstanding at ending	$ 3,393,000
Awards outstanding vested and expected to vest at ending	3,383,000
Awards exercisable at ending	$ 2,535,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Life [Roll Forward]
Awards outstanding at ending	4 years 3 months 25 days
Awards outstanding vested and expected to vest at ending	4 years 3 months 22 days
Awards exercisable at ending	4 years 1 month 6 days

STOCK-BASED COMPENSATION (Det_3

STOCK-BASED COMPENSATION (Details 2) - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock units granted	3,149,720
Restricted stock units settled by delivery of Common Stock upon vesting	(430,838)
Restricted stock units forfeited	(64,722)
2007 Performance Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Awards outstanding at beginning	446,668
Restricted stock units granted	3,149,720	566,000
Restricted stock units settled by delivery of Common Stock upon vesting	(430,838)	(467,000)
Restricted stock units forfeited	(64,722)
Awards outstanding at ending	3,100,828
Awards expected to vest at ending	3,004,078
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Intrinsic Value [Roll Forward]
Awards outstanding at ending	$ 6,822,000
Awards expected to vest at ending	$ 6,609,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Weighted Average Remaining Contractual Life [Roll Foward]
Awards outstanding at ending	2 years 5 months 1 day
Awards expected to vest at ending	1 year 7 months 13 days

STOCK-BASED COMPENSATION (Det_4

STOCK-BASED COMPENSATION (Details 3) - $ / shares	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Shares underlying awards unvested at beginning	2,131,135
Shares underlying options granted	282,333	135,000
Shares underlying restricted stock units granted	3,149,720
Shares underlying options vested	(1,087,556)
Shares underlying restricted stock units settled by delivery of Common Stock upon vesting	(430,838)
Shares underlying options forfeited	(3,752)
Shares underlying restricted stock units forfeited	(64,722)
Shares underlying awards unvested at ending	3,976,320
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Shares underlying awards unvested at beginning	$ 0.48
Shares underlying options granted	0.42	$ 0.27
Shares underlying restricted stock units granted	1.68	$ 0.90
Shares underlying options vested	0.34
Shares underlying restricted stock units settled by delivery of Common Stock upon vesting	0.95
Shares underlying options forfeited	0.43
Shares underlying restricted stock units forfeited	1.72
Shares underlying awards unvested at ending	$ 1.40

STOCK-BASED COMPENSATION (Det_5

STOCK-BASED COMPENSATION (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	May 31, 2018
Weighted-average grant date fair value of stock option (in dollars per share)			$ 0.42	$ 0.27
Weighted-average grant date fair value per share (in dollars per share)			$ 1.68	$ 0.90
Noncash share-based compensation			$ 1,715,731	$ 1,205,978
Total fair value of share-based awards vested			492,000	952,000
Total intrinsic value of options exercised			$ 8,000	$ 0
Number of stock option granted			282,333	135,000
Number of RSU granted			3,149,720
Number of shares issued for settled by delivery of common stock upon vesting			430,838
Yielding cash proceeds			$ 10,000
2007 Performance Incentive Plan [Member]
Number of remaining shares available for future grants	3,300,000		3,300,000		5,200,000
Noncash share-based compensation	$ 797,000	$ 401,000	$ 1,700,000	$ 1,200,000
Number of stock option granted			282,333
Unrecognized stock-based compensation expense	4,400,000		$ 4,400,000
Weighted average period of recognization			2 years 3 months 22 days
2007 Performance Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Total intrinsic value of share-based awards other than options vested			$ 773,000	$ 409,000
Number of RSU granted			3,149,720	566,000
Number of shares issued for settled by delivery of common stock upon vesting			430,838	467,000
Total intrinsic value of share-based awards options and equity instruments other than options outstanding	$ 10,200,000	$ 879,000	$ 10,200,000	$ 879,000

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2018	Nov. 30, 2017
Number of treasury shares purchased	211,608
2007 Performance Incentive Plan [Member]
Number of shares for withholding taxes	2,055,108
2007 Performance Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Number of shares for withholding taxes	10,043
Share Repurchase Program [Member] | Common Stock [Member]
Number of authorized shares repurchased		$ 5,000,000
Number of treasury shares purchased	1,105
Value of treasury shares purchased	$ 1,415

NET (LOSS) INCOME PER SHARE O_3

NET (LOSS) INCOME PER SHARE OF COMMON STOCK (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Numerator:
Net (loss) income attributable to common stockholders	$ (1,811,951)	$ 189,869	$ 25,022,334	$ (592,827)
Denominator:
Weighted average basic shares outstanding (in shares)	49,600,837	35,869,751	49,362,018	35,710,049
Weighted average diluted shares outstanding (in shares)	49,600,837	36,142,548	50,695,450	35,710,049
Net (loss) income per share:
Basic net (loss) income attributable to common stockholders (in dollars per share)	$ (0.04)	$ 0.01	$ 0.51	$ (0.02)
Diluted net (loss) income attributable to common stockholders (in dollars per share)	$ (0.04)	$ 0.01	$ 0.49	$ (0.02)

NET (LOSS) INCOME PER SHARE O_4

NET (LOSS) INCOME PER SHARE OF COMMON STOCK (Details Narrative) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Net (loss) income per share:
Number of restricted stock units and option excluded from calculation	6,700,000	569,000

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Income tax benefit	$ (775,014)		$ 193,662	$ (1,083,763)	$ 802,249
Effective tax rate	40.70%		42.20%	22.30%	34.00%
Adjustment of state deferred tax liability		$ 272,000
Federal And State Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards						$ 173,000,000
Description of operating loss carry forward expiration year						Expire from 2019 through 2037</font></p>" id="sjs-G10">&lt;p>&lt;font style="font: 10pt Times New Roman, Times, Serif">Expire from 2019 through 2037&lt;/font>&lt;/p>
Windfall tax net operating loss carryforward						$ 10,500,000
Description of operating loss carryforwards limitations on use						The utilization of such carryforwards may be limited upon the occurrence of certain ownership changes, including the purchase and sale of stock by 5% shareholders and the offering of stock by the Company during any three-year period resulting in an aggregate change of more than 50% of the beneficial ownership of the Company.</font></p>" id="sjs-G12">&lt;p>&lt;font style="font: 10pt Times New Roman, Times, Serif">The utilization of such carryforwards may be limited upon the occurrence of certain ownership changes, including the purchase and sale of stock by 5% shareholders and the offering of stock by the Company during any three-year period resulting in an aggregate change of more than 50% of the beneficial ownership of the Company.&lt;/font>&lt;/p>

BUSINESS CONCENTRATIONS AND C_2

BUSINESS CONCENTRATIONS AND CREDIT RISK (Details Narrative) - Customer Concentration Risk [Member] - Customer	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Exceeds 10% Revenue [Member]
Number of customers	0		0
Exceeds 10% Accounts Receivables [Member]
Number of customers	1	1

RESTRUCTURING AND OTHER CHARG_2

RESTRUCTURING AND OTHER CHARGES (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended
	Mar. 31, 2017	Sep. 30, 2017
Restructuring and other charges		$ 198,979
Employee Severance [Member]
Restructuring and other charges	$ 199,000

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Other Liabilities Disclosure [Abstract]
Deferred revenue	$ 1,033,812	$ 629,309
Deferred rent	710,840	912,201
Other		2,092
Total other liabilities	$ 1,744,652	$ 1,543,602

SEGMENT AND GEOGRAPHIC DATA (De

SEGMENT AND GEOGRAPHIC DATA (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue:
Total	$ 13,007,228	$ 13,334,253	$ 39,171,648	$ 40,798,780
Operating income (loss):
Total	(1,937,763)	(467,225)	(4,935,313)	(2,385,759)
Business To Business [Member]
Revenue:
Total	6,274,824	5,951,581	18,866,397	17,418,252
Operating income (loss):
Total	(766,477)	(613,860)	(1,820,414)	(2,157,859)
Business To Consumer [Member]
Revenue:
Total	6,732,404	7,382,672	20,305,251	23,380,528
Operating income (loss):
Total	$ (1,170,796)	$ 146,635	$ (3,114,410)	$ (227,900)