TheStreet 10-K 15 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Mar. 12, 2019	Jun. 29, 2018
Document And Entity Information
Entity Registrant Name	THESTREET, INC.
Entity Central Index Key	0001080056
Document Type	10-K
Trading Symbol	TST
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Emerging Growth	false
Entity Small Business	true
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 66,000,000
Entity Common Stock, Shares Outstanding		51,563,410
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2018

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 37,029,262	$ 11,684,817
Accounts receivable, net of allowance for doubtful accounts of $296,443 as of December 31, 2018 and $278,997 as of December 31, 2017	4,889,164	4,546,308
Other receivables, net	3,801,553	389,353
Prepaid expenses and other current assets	2,489,389	1,505,693
Current assets of discontinued operations		230,116
Total current assets	48,209,368	18,356,287
Noncurrent Assets:
Property and equipment, net of accumulated depreciation and amortization of $6,240,110 as of December 31, 2018 and $5,475,077 as of December 31, 2017	1,489,132	2,092,669
Marketable securities	1,850,000	1,680,000
Other assets	1,164,388	306,465
Goodwill	2,016,417	23,568,472
Other intangibles, net of accumulated amortization of $18,668,307 as of December 31, 2018 and $15,702,665 as of December 31, 2017	12,461,416	12,966,569
Deferred tax asset	18,050,971	1,975,480
Restricted cash	500,000	500,000
Noncurrent assets of discontinued operations		7,564,606
Total assets	85,741,692	69,010,548
Current Liabilities:
Accounts payable	2,796,855	1,999,772
Accrued expenses	3,962,220	3,690,337
Deferred revenue	21,187,320	19,201,693
Other current liabilities	691,774	1,854,192
Current liabilities of discontinued operations		4,246,891
Total current liabilities	28,638,169	30,992,885
Noncurrent Liabilities:
Deferred tax liability		1,006,754
Other noncurrent liabilities	1,535,066	1,543,602
Noncurrent liabilities of discontinued operations		520,506
Total liabilities	30,173,235	34,063,747
Stockholders' Equity:
Common stock; $0.01 par value; 100,000,000 shares authorized;57,586,227 shares issued and 49,741,269 shares outstanding as of December 31, 2018, and 56,891,551 shares issued and 49,181,462 shares outstanding as of December 31, 2017	575,862	568,916
Additional paid-in capital	262,037,815	259,569,737
Accumulated other comprehensive loss	(5,418,635)	(4,845,650)
Treasury stock at cost 7,844,958 shares as of December 31, 2018 and 7,710,089 shares as of December 31, 2017	(13,754,559)	(13,484,924)
Accumulated deficit	(187,872,026)	(206,861,278)
Total stockholders' equity	55,568,457	34,946,801
Total liabilities and stockholders' equity	$ 85,741,692	$ 69,010,548

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts on accounts receivable	$ 296,443	$ 278,997
Accumulated depreciation and amortization on property and equipment	6,240,110	5,475,077
Accumulated amortization on other intangibles	$ 18,668,307	$ 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	57,586,227	56,891,551
Common stock, oustanding	49,741,269	49,181,462
Treasury stock	7,844,958	7,710,089

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Total revenue	$ 53,089,452	$ 54,794,841
Operating expense:
Cost of services (exclusive of depreciation and amortization shown separately below)	22,779,755	25,307,050
Sales and marketing	14,225,829	12,226,288
General and administrative	15,925,143	14,831,086
Depreciation and amortization	4,631,198	4,350,714
Impairment of goodwill	21,466,182
Transaction costs	3,403,527
Restructuring and other charges		438,645
Total operating expense	82,431,634	57,153,783
Operating loss	(29,342,182)	(2,358,942)
Net interest income	181,705	46,807
Net loss from continuing operations before income taxes	(29,160,477)	(2,312,135)
Benefit for income taxes	22,367,402	2,622,361
Net (loss) income from continuing operations	(6,793,075)	310,226
Income from discontinued operations	1,440,009	3,242,463
Gain on sale of business, net of tax	23,567,640
Gain on discontinued operations	25,007,649	3,242,463
Net income	18,214,574	3,552,689
Capital contribution attributable to preferred stockholders		22,367,520
Net income attributable to common stockholders	$ 18,214,574	$ 25,920,209
Basic net (loss) income per share attributable to common stockholders:
Continuing operations (in dollars per share)	$ (0.14)	$ 0.60
Discontinued operations (in dollars per share)	0.51	0.09
Basic net income per share (in dollars per share)	0.37	0.69
Diluted net (loss) income per share attributable to common stockholders:
Continuing operations (in dollars per share)	(0.13)	0.6
Discontinued operations (in dollars per share)	0.49	0.08
Diluted net income per share (in dollars per share)	$ 0.36	$ 0.68
Weighted average basic shares outstanding (in shares)	49,425,372	37,624,103
Weighted average diluted shares outstanding (in shares)	51,047,059	37,842,479
Business to Business [Member]
Total revenue	$ 25,578,345	$ 23,776,148
Operating expense:
Operating loss	(4,518,467)	(2,227,236)
Net interest income	86,363	2,227
Benefit for income taxes	(18,104,273)	(1,778,429)
Net (loss) income from continuing operations	13,672,476	861,614
Business to Consumer [Member]
Total revenue	27,511,107	31,018,693
Operating expense:
Operating loss	(24,823,715)	(131,706)
Net interest income	95,342	44,580
Benefit for income taxes	(4,263,129)	(843,932)
Net (loss) income from continuing operations	$ (20,465,551)	$ (551,388)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 18,214,574	$ 3,552,689
Foreign currency translation (loss) gain	(742,985)	922,655
Unrealized gain on marketable securities	170,000	130,000
Comprehensive income	$ 17,641,589	$ 4,605,344

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Series B Preferred Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]	Accumulated Deficit [Member]	Total
Balance at beginning at Dec. 31, 2016	$ 429,369	$ 55	$ 271,143,445	$ (5,898,305)	$ (13,211,141)	$ (210,413,967)	$ 42,049,456
Balance at beginning (in shares) at Dec. 31, 2016	42,936,906	5,500			(7,515,689)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain on marketable securities				130,000			130,000
Foreign currency translation gain				922,655			922,655
Issuance of shares pursuant to Series B exchange	$ 60,000		5,520,000				5,580,000
Issuance of shares pursuant to Series B exchange (in shares)	6,000,000
Exercise and issuance of equity grants	$ 8,183		(8,183)		$ (273,783)		(273,783)
Exercise and issuance of equity grants (in shares)	818,282				(194,400)
Issuance of common stock	$ 71,364		7,778,635				7,849,999
Issuance of common stock (in shares)	7,136,363
Redemption of preferred stock		$ (55)	(48,838,360)				(48,838,415)
Redemption of preferred stock (in shares)		(5,500)
Stock-based consideration for services			1,606,680				1,606,680
Capital contribution related to redemption of preferred stock			22,367,520				22,367,520
Net income						3,552,689	3,552,689
Balance at end at Dec. 31, 2017	$ 568,916		259,569,737	(4,845,650)	$ (13,484,924)	(206,861,278)	34,946,801
Balance at end (in shares) at Dec. 31, 2017	56,891,551				(7,710,089)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain on marketable securities				170,000			170,000
Foreign currency translation gain				(742,985)			(742,985)
Exercise and issuance of equity grants	$ 6,946		(6,946)		$ (268,220)		(268,220)
Exercise and issuance of equity grants (in shares)	694,676				(133,764)
Stock-based consideration for services			2,475,024				2,475,024
Stock repurchase					$ (1,415)		(1,415)
Capital contribution related to redemption of preferred stock					(1,105)
Capitalized commissions						774,678	774,678
Net income						18,214,574	18,214,574
Balance at end at Dec. 31, 2018	$ 575,862		$ 262,037,815	$ (5,418,635)	$ (13,754,559)	$ (187,872,026)	$ 55,568,457
Balance at end (in shares) at Dec. 31, 2018	57,586,227				7,844,958

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities:
Net income	$ 18,214,574	$ 3,552,689
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of business, net of tax	(23,567,640)
Impairment of goodwill	21,466,182
Stock-based compensation expense	2,475,024	1,606,680
Provision for doubtful accounts	42,043	21,154
Depreciation and amortization	4,780,768	5,132,259
Deferred taxes	(22,056,003)	(3,005,213)
Deferred rent	(324,969)	(526,579)
Changes in operating assets and liabilities:
Accounts receivable	(509,509)	485,592
Other receivables	(62,200)	(30,101)
Prepaid expenses and other current assets	(1,064,637)	(166,578)
Other assets	(395,414)	(2,693)
Accounts payable	791,821	(518,834)
Accrued expenses	(78,137)	(1,383,875)
Deferred revenue	2,679,874	728,118
Other current liabilities	(194,337)	(3,511)
Other liabilities	87,952
Net cash provided by operating activities	2,285,392	5,889,108
Cash Flows from Investing Activities:
Proceeds from sale of business, net	28,232,100
Capital expenditures	(3,922,509)	(2,505,816)
Net cash provided by (used in) investing activities	24,309,591	(2,505,816)
Cash Flows from Financing Activities:
Cash dividends paid on common stock	(68,162)	(68,245)
Net proceeds from the sale of common stock		7,849,999
Cash paid to extinguish preferred stock		(20,891,480)
Earnout payment for prior acquisition	(951,867)
Shares withheld on RSU vesting to pay for withholding taxes	(268,220)	(273,783)
Share repurchase	(1,415)
Net cash used in financing activities	(1,289,664)	(13,383,509)
Effect of exchange rate changes on cash and cash equivalents	39,126	313,912
Net increase (decrease) in cash and cash equivalents	25,344,445	(9,686,305)
Cash, cash equivalents and restricted cash, beginning of period	12,184,817	21,871,122
Cash, cash equivalents and restricted cash, end of period	37,529,262	12,184,817
Supplemental disclosures of cash flow information:
Cash payments made for taxes	56,546	87,023
Noncash investing and financing:
Issuance of common stock as part of extinguishment of preferred stock		5,580,000
Capital contribution related to redemption of preferred stock		$ 22,367,520

Organization, Nature of Busines

Organization, Nature of Business and Summary of Operations and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Nature of Business and Summary of Operations and Significant Accounting Policies	(1) Organization, Nature of Business and Summary of Operations and Significant Accounting Policies Organization and Nature of Business 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 subscription products and advertising revenue. From time to time, the Board of Directors and our senior management team review and evaluate strategic opportunities and alternatives as part of a long-term strategy to increase stockholder value. Such opportunities and alternatives include remaining as a stand-alone entity, potential acquisitions of companies, businesses or assets that align with our strategic objectives and potential dispositions of one or more of our businesses. The Board’s consideration of strategic opportunities and alternatives took on a renewed focus following the realignment of our capital structure in November 2017, with the Board determining to review, among other things, our mix of businesses with a view to possibly unlocking the value the Board believed was in our portfolio as well as possibly growing our businesses through acquisitions. This unlocking of value began through the divestiture of our RateWatch business in June 2018 for a sale price of $33.5 million and continued through the sale of our business-to-business units, The Deal and BoardEx, for $87.3 million in February 2019. In December 2018, we announced a definitive purchase agreement (the “Agreement”) to sell our business-to-business units, The Deal and BoardEx, for $87.3 million to Euromoney Institutional Investor PLC. The Agreement was unanimously approved by the Company’s Board of Directors on December 6, 2018. The decision to sell the institutional business is part of the Company’s ongoing review of strategic alternatives to enhance shareholder value. The sale of the business-to-business segment was approved by a majority of the Company’s shareholders at a special meeting held on February 12, 2019. As a result, this business segment will be presented as a discontinued operations beginning with the first quarter of 2019 when the company meets the available for sale criteria as established by ASC 205 “ Discontinued Operations Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“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 date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the consolidated financial statements in the period they are deemed to be necessary. Significant estimates made in the accompanying consolidated financial statements include, but are not limited to, the following: ● useful lives of intangible assets, ● useful lives of property and equipment, ● the carrying value of goodwill, intangible assets and marketable securities, ● allowances for doubtful accounts and deferred tax assets, ● accrued expense estimates, ● reserves for deferred tax assets and liabilities, and ● certain estimates and assumptions used in the calculation of the fair value of equity compensation issued to employees. Consolidation The consolidated financial statements have been prepared in accordance with GAAP and include the accounts of TheStreet, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Revenue Recognition We report revenue in two categories: business to business (B2B) and business to consumer (B2C). B2B 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 as well as events/conferences, information services and other miscellaneous revenue. B2C revenue is primarily comprised of subscriptions that provide access to securities investment information and stock market commentary, advertising and sponsorships and other miscellaneous revenue. Subscriptions are charged to customers’ credit cards or are directly billed to corporate subscribers, and are generally billed in advance on a monthly, quarterly or annual basis. The Company calculates net subscription revenue by deducting from gross revenue an estimate of potential refunds from cancelled subscriptions as well as chargebacks of disputed credit card charges. Net subscription revenue is recognized ratably over the subscription periods. Deferred revenue relates to payments for subscription fees for which revenue has not been recognized because services have not yet been provided. Subscription revenue is subject to estimation and variability due to the fact that, in the normal course of business, subscribers may for various reasons contact us or their credit card companies to request a refund or other adjustment for a previously purchased subscription. With respect to many of our B2C products, we offer the ability to receive a refund during the first 30 days but none thereafter. Accordingly, we maintain a provision for estimated future revenue reductions resulting from expected refunds and chargebacks related to subscriptions for which revenue was recognized in a prior period. The calculation of this provision is based upon historical trends and is reevaluated each quarter. The provision was not material for the years ended December 31, 2018 and 2017. Advertising revenue is comprised of fees charged for the placement of advertising and sponsorships, primarily within TheStreet.com Cash, Cash Equivalents and Restricted Cash The Company considers all short-term investment-grade securities with original maturities of three months or less from the date of purchase to be cash equivalents. As of December 31, 2018, the Company has a total of $500 thousand of cash that serves as collateral for an outstanding letter of credit, which cash is classified as restricted. The letter of credit serves as a security deposit for the Company’s office space in New York City. Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation and amortization. Property and equipment are depreciated on a straight-line basis over the estimated useful lives of the assets. The estimated useful life of computer equipment, computer software and telephone equipment is three years and of furniture and fixtures is five years. Leasehold improvements are amortized on a straight-line basis over the shorter of the respective lease term or the estimated useful life of the asset. If the useful lives of the assets differ materially from the estimates contained herein, additional costs could be incurred, which could have an adverse impact on the Company’s expenses. Capitalized Software and Website Development Costs The Company expenses all costs incurred in the preliminary project stage for software developed for internal use and capitalizes all external direct costs of materials and services consumed in developing or obtaining internal-use computer software in accordance with Accounting Standards Codification (“ASC”) 350, Intangibles – Goodwill and Other . The Company also accounts for its Website development costs under ASC 350 , Capitalized software and Website development costs are amortized using the straight-line method over the estimated useful life of the software or Website, which varies based upon the project. For the years ended December 31, 2018 and 2017, amortization expense was approximately $1.9 million and $2.2 million, respectively. Goodwill and Indefinite Lived Intangible Assets Goodwill represents the excess of purchase price over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. Goodwill is evaluated for impairment annually by first performing a qualitative assessment to determine whether a quantitative goodwill test is necessary. After assessing the totality of events or circumstances, if we determine it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then we perform additional quantitative tests to determine the magnitude of any impairment. The Company performs its annual impairment tests as of October 1 each year. The Company operates in two distinct operating segments: Business to Business and Business to Consumer. These operating segments also represent the Company’s reporting units. The Company tests goodwill using a quantitative analysis consisting of a comparison of the carrying value of each of our reporting units, including goodwill, to the estimated fair value of each of our reporting units using both a market approach and an income approach. The market approach was performed for the valuation of the Company’s Common Stock based upon actual prices of the Company’s common stock. The Company also performed an income approach to confirm the reasonableness of these results using the discounted cash flow methodology. If the carrying value of the reporting unit exceeds the fair value of such reporting unit, we would then calculate the amount of impairment loss which is equivalent to the reporting unit’s carrying value of goodwill less the implied fair value of such goodwill. As discussed below, we also used a discounted cash flow methodology, or DCF. Our use of a DCF methodology includes estimates of future revenue based upon budget projections and growth rates which take into account estimated inflation rates. We also develop estimates for future levels of gross and operating profits and projected capital expenditures. Our methodology also includes the use of estimated discount rates based upon industry and competitor analysis as well as other factors. The estimates that we use in our DCF methodology involve many assumptions by management that are based upon future growth projections. Based upon the annual impairment test performed as of October 1, 2018, the Company concluded that the Business-to-Consumer segment was impaired by $15.1 million and was further impaired by an additional $6.4 million at December 31, 2018, resulting in a total impairment of the goodwill for this business segment. The business-to-business reporting units estimated fair value, based upon its February 2019 selling price, exceeded its carrying value by approximately 376% as October 1, 2018. Additionally, the Company evaluates the remaining useful lives of intangible assets each year to determine whether events or circumstances continue to support their useful life. There have been no changes in useful lives of intangible assets for each period presented. Long-Lived Assets The Company evaluates long-lived assets, including amortizable identifiable intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Upon such an occurrence, recoverability of assets is measured by comparing the carrying amount of an asset to forecasted undiscounted net cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset. Management does not believe that there was any impairment of long-lived assets as of December 31, 2018 or 2017. Income Taxes The Company accounts for its income taxes in accordance with ASC 740-10, Income Taxes ASC 740-10 also prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. Differences between tax positions taken or expected to be taken in a tax return and the benefit recognized and measured pursuant to the interpretation are referred to as “unrecognized benefits.” A liability is recognized for an unrecognized tax benefit because it represents an enterprise’s potential future obligation to the taxing authority for a tax position that was not recognized as a result of applying the provisions of ASC 740-10. Interest costs related to unrecognized tax benefits would be classified within “Net interest income” in the consolidated statements of operations. Penalties would be recognized as a component of “General and administrative” expense. Fair Value of Financial Instruments The carrying amounts of accounts and other receivables, accounts payable, accrued expenses and deferred revenue approximate fair value due to the short-term maturities of these instruments. 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 December 31, 2018, the Company’s cash, cash equivalents and restricted cash primarily consisted of checking accounts and money market funds. For the years ended December 31, 2018 and 2017, no single customer accounted for 10% or more of consolidated revenue. As of December 31, 2018, two customers accounted for more than 10% of consolidated accounts receivable. As of December 31, 2017, one customer accounted for more than 10% of consolidated accounts receivable. The Company’s customers are primarily concentrated in the United States and Europe. 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 estimates. Other Comprehensive Income Comprehensive income is a measure which includes both net income and other comprehensive income. Other comprehensive income results from items deferred from recognition into the statement of operations. Accumulated other comprehensive loss is separately presented on both the Company’s consolidated balance sheet and as part of the consolidated statement of stockholders’ equity. Other comprehensive income consists of unrealized gains and losses on marketable securities classified as available for sale as well as foreign currency translation adjustments from subsidiaries where the local currency is the functional currency. Foreign Currency The functional currency of the Company’s international subsidiaries is the local currency. The financial statements of these subsidiaries are translated into U.S. dollars using period-end rates of exchange for assets and liabilities, historical rates of exchange for equity, and monthly average rates of exchange for the period for revenue and expense. Translation gains (losses) are recorded in accumulated other comprehensive loss as a component of stockholders’ equity. Gains and losses resulting from currency transactions are included in earnings. Net Income Per Share of Common Stock Basic net income per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income 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 income 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). As of the year ended December 31, 2018, approximately 1.6 million of unvested restricted stock units and vested and unvested options to purchase Common Stock were included in the calculation of the diluted earnings per share attributable to the common stockholders. As of the year ended December 31, 2017, approximately 218 thousand of unvested restricted stock units and vested and unvested options to purchase Common Stock were included in the calculation of the diluted earnings per share attributable to the common stockholders. Advertising Costs Advertising costs are expensed as incurred. For the years ended December 31, 2018 and 2017, advertising expense totaled approximately $2.0 million and $1.8 million, respectively. Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC 718-10, Share Based Payment Transactions Stock-based compensation expense recognized for the years ended December 31, 2018 and 2017 was approximately $2.5 million and $1.6 million, respectively. As of December 31, 2018, there were 6.6 million stock option and restricted stock unit grants outstanding, having a total value of approximately $3.6 million of unrecognized stock-based compensation expense remaining. With the sale of our B2B business, the Company’s Board of Directors has accelerated the vesting of all outstanding stock options and restricted stock units as of February 25, 2019. Stock-based compensation expense recognized in the Company’s consolidated statements of operations for the years ended December 31, 2018 and 2017 includes compensation expense for all stock-based payment awards based upon the estimated grant date fair value. The Company recognizes compensation expense for stock-based payment awards on a straight-line basis over the requisite service period of the award. As stock-based compensation expense recognized in the years ended December 31, 2018 and 2017 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 periods. 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 years ended December 31, 2018 and 2017 was $0.42 and $0.28, respectively, using the Black-Scholes model with the following weighted-average assumptions: For the Years Ended December 31, 2018 2017 Expected option lives 1.8 years 4.2 years Expected volatility 47.28 % 37.58 % Risk-free interest rate 2.47 % 1.69 % Expected dividends 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 years ended December 31, 2018 and 2017 was $1.68 and $0.90, respectively. 2007 Performance Incentive Plan In 2007, the Company adopted the 2007 Plan, whereby executive officers, directors, employees and consultants may be eligible to receive cash or equity-based performance awards based on set performance criteria. In 2018 and 2017, the Compensation Committee granted short-term cash performance awards, payable to certain officers, upon the Company’s achievement of specified performance goals for such year as defined by the Compensation Committee. The target short-term cash bonus opportunities for officers reflected a percentage of the officer’s base salary. Potential payout was zero if a threshold percentage of the target was not achieved and a sliding scale thereafter, subject to a cap, starting at a figure less than 100% if the threshold was achieved but the target was not met and ending at a figure above 100% if the target was exceeded. Short-term incentives of approximately $756 thousand and $799 thousand were deemed earned with respect to the years ended December 31, 2018 and 2017, respectively. New 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

Revision of Prior Period Financ

Revision of Prior Period Financial Statements	12 Months Ended
	Dec. 31, 2018
Revision Of Prior Period Financial Statements
Revision of Prior Period Financial Statements text block	(2) 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 Reclassification As Revised Deferred tax liability $ 1,932,606 $ (925,852 ) — $ 803,917 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 $ (185,801 ) $ 2,622,361 Net income 2,626,837 925,852 — $ 3,552,689

Revenues

Revenues	12 Months Ended
	Dec. 31, 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 Year Ended December 31, 2018 2017 Subscription $ 43,171,702 $ 41,887,071 Advertising 6,569,580 9,641,485 Other 3,348,170 3,266,285 Total Revenue $ 53,089,452 $ 54,794,841 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 year ended December 31, 2018 is primarily driven by cash payments received in advance of satisfying our performance obligations. Contract Costs As of December 31, 2018, the Company has a total of $1.0 million 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 year ended December 31, 2018 was $139 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.

Divestiture

Divestiture	12 Months Ended
	Dec. 31, 2018
Divestiture
Divestiture	(4) 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. Of the selling price, $3,350,000 was placed in Escrow to secure S&P’s rights to indemnification and their right to any post-closing adjustments in its favor. 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 $23.6 million, net of a tax expense of $4.9 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 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 Total Liabilities $ 4,767,397 The following table presents the discontinued operations of RateWatch in the Consolidated Statement of Operations: For the Year For the Year Ended Ended December 31, 2018 December 31, 2017 Net revenue $ 3,943,583 $ 7,674,548 Operating expense: Cost of services 870,447 1,809,065 Sales and marketing 718,309 1,333,105 General and administrative 272,088 663,136 Depreciation and amortization 160,293 781,545 Restructuring and other charges — 31,035 Transaction costs 163,475 — Total operating expense 2,184,612 4,617,886 Operating income 1,758,971 3,056,662 (Provision) benefit for income taxes (318,962 ) 185,801 Net income $ 1,440,009 $ 3,242,463 The following table presents the discontinued operations of RateWatch in the Consolidated Statements of Cash Flows: For the Year Ended For the Year Ended December 31, 2018 December 31, 2017 Net cash provided by operating activities $ 2,103,406 $ 3,912,276 Net cash used in investing activities (37,006 ) (52,740 ) Net increase in cash, cash equivalents and restricted cash $ 2,066,400 $ 3,859,536

Net Income Per Share

Net Income Per Share	12 Months Ended
	Dec. 31, 2018
Net (loss) income per share:
Net Income Per Share	(5) Net Income Per Share Basic net income per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income 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 income 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 year ended December 31, 2018, approximately 1.6 million of unvested restricted stock units and vested and unvested options to purchase Common Stock were included in the calculation of the earnings per share attributable to the common stockholders. The following table reconciles the numerator and denominator for the calculation. For the Years Ended December 31, 2018 2017 Basic and diluted net income per share Numerator: Net income $ 8,214,574 $ 3,552,689 Capital contribution attributable to preferred shareholders — 22,367,520 Numerator for basic and diluted earnings per share - Net income attributable to common stockholders $ 8,214,574 $ 25,920,209 Denominator: Weighted average basic shares outstanding 49,425,372 37,624,103 Weighted average diluted shares outstanding 51,047,059 37,842,479 Basic and diluted net loss per share: Basic net income attributable to common stockholders $ 0.37 $ 0.69 Diluted net income attributable to common stockholders $ 0.36 $ 0.68

Cash and Cash Equivalents, Mark

Cash and Cash Equivalents, Marketable Securities and Restricted Cash	12 Months Ended
	Dec. 31, 2018
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents, Marketable Securities and Restricted Cash	(6) Cash and Cash Equivalents, Marketable Securities and Restricted Cash The Company’s cash, cash equivalents and restricted cash primarily consist of checking accounts and money market funds. As of December 31, 2018 and 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 $1.9 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 loss and excluded from net income as they are deemed temporary. Additionally, as of both December 31, 2018 and 2017, the Company has a total of approximately $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 security deposits for the Company’s office space in New York City. As of December 31, 2018 2017 Cash and cash equivalents $ 37,029,262 $ 11,684,817 Marketable securities 1,850,000 1,680,000 Restricted cash 500,000 500,000 Total cash, cash equivalents, marketable securities and restricted cash $ 39,379,262 $ 13,864,817

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	(7) 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 the Company’s financial statements and measured at fair value are classified based on the valuation technique level in the table below: As of December 31, 2018 Description: Total Level 1 Level 2 Level 3 Cash and cash equivalents (1) $ 37,029,262 $ 37,029,262 $ — $ — Restricted cash (1) 500,000 500,000 — — Marketable securities (2) 1,850,000 — — 1,850,000 Total at fair value $ 39,379,262 $ 37,529,262 $ — $ 1,850,000 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 $37.5 million and $12.2 million as of December 31, 2018 and 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 $1.9 million and $1.7 million as of December 31, 2018 and 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 December 31, 2018, the Company determined that the fair value of its ARS investments equaled its cost basis. The Company used a discounted cash flow and market approach model to determine the approximated fair value of its investment in ARS. The assumptions used in preparing the discounted cash flow model include estimates for interest rate, timing and amount of cash flows and expected holding period of ARS. (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 full during the second quarter of 2018. The following table provides 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, 2016 $ 1,550,000 Change in fair value of investment 130,000 Balance December 31, 2017 1,680,000 Change in fair value of investment 170,000 Balance December 31, 2018 $ 1,850,000 Contingent Balance December 31, 2016 $ 907,657 Accretion of net present value 44,210 Balance December 31, 2017 951,867 Payment made May 2018 (951,867 ) Balance December 31, 2018 $ —

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property and Equipment	(8) Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation and amortization. Property and equipment are depreciated on a straight-line basis over the estimated useful lives of the assets. The estimated useful life of computer equipment, computer software and telephone equipment is three years and of furniture and fixtures is five years. Leasehold improvements are amortized on a straight-line basis over the shorter of the respective lease term or the estimated useful life of the asset. If the useful lives of the assets differ materially from the estimates contained herein, additional costs could be incurred, which could have an adverse impact on the Company’s expenses. Property and equipment as of December 31, 2018 and 2017 consists of the following: As of December 31, 2018 2017 Computer equipment and software $ 1,882,246 $ 1,767,386 Furniture and fixtures and telephone equipment 1,910,084 1,889,937 Leasehold improvements 3,936,912 3,910,423 7,729,242 7,567,746 Less accumulated depreciation and amortization 6,240,110 5,475,077 Property and equipment, net $ 1,489,132 $ 2,092,669 Depreciation expense for the above noted property and equipment was approximately $810 thousand and $945 thousand for the years ended December 31, 2018 and 2017, respectively. The Company does not include depreciation expense in cost of services, sales and marketing or general and administrative expense.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	(9) Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the years ended December 31, 2018 and 2017 were as follows: Balance as of December 31, 2016 $ 23,332,091 Exchange rate impact 236,381 Balance as of December 31, 2017 23,568,472 Impairment of goodwill (21,466,182 ) Exchange rate impact (85,873 ) Balance as of December 31, 2018 $ 2,016,417 The above table does not include historical goodwill of RateWatch which totaled $5,851,050 and is now reported in discontinued operations. Based on our October 1, 2018 goodwill review, we concluded that the Business to Consumer goodwill was impaired by $15.1 million, with the Business to Business reporting units exceeding the amount recorded. Based on our analysis as of December 31, 2018, we concluded that the Business to Consumer goodwill was impaired by $6.4 million. Combined with the impairment recorded October 1, 2018 this resulted in a total impairment to the B2C goodwill totaling $21.5 million. The Business to Business reporting units again exceeded the amount recorded based upon its February 2019 selling price and no impairment was recorded. The Company currently operates in two distinct operating segments: Business to Business and Business to Consumer. These operating segments also represented the Company’s reporting units. Business to Business Business to Consumer Total Balance December 31, 2016 $ 1,865,909 $ 21,466,182 $ 23,332,091 Exchange rate impact 236,381 — 236,381 Balance December 31, 2017 2,102,290 21,466,182 23,568,472 Impairment of goodwill — (21,466,182 ) (21,466,182 ) Exchange rate impact (85,873 ) — (85,873 ) Balance December 31, 2018 $ 2,016,417 $ — $ 2,016,417 The Company’s goodwill and intangible assets and related accumulated amortization as of December 31, 2018 and 2017 consist of the following: As of December 31, 2018 2017 Total goodwill $ 2,016,417 $ 23,568,472 Intangible assets subject to amortization: Customer relationships 6,851,774 7,025,465 Software models 1,018,194 1,018,194 Product databases 9,878,657 9,453,096 Trade names 726,798 741,470 Capitalized website and software development 12,497,235 10,270,584 Domain names 157,065 160,425 Total intangible assets subject to amortization 31,129,723 28,669,234 Less accumulated amortization (18,668,307 ) (15,702,665 ) Net intangible assets $ 12,461,416 $ 12,966,569 Intangible assets were established through business acquisitions and internally developed capitalized website and software development costs. Definite-lived intangible assets are amortized on a straight-line basis over a weighted-average period of approximately 9.7 years for customer relationships, 5.0 years for software models, 10.0 years for product databases and 8.6 years for trade names. Amortization expense totaled approximately $3.8 million and $3.4 million for the years ended December 31, 2018 and 2017, respectively. The estimated amortization expense for the next five years and thereafter is as follows: For the Years Ended December 31, Amount 2019 $ 3,610,207 2020 3,204,512 2021 2,330,899 2022 1,573,295 2023 957,043 Thereafter 785,460 Total $ 12,461,416

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Accrued Expenses	(10) Accrued Expenses Accrued expenses as of December 31, 2018 and 2017 consist of the following: As of December 31, 2018 2017 Payroll and related costs $ 657,898 $ 2,010,745 Professional fees 1,111,582 449,394 Tax related 1,026,551 296,606 Business development 141,305 173,840 Data related 151,307 129,483 All other 873,577 630,269 Total accrued expenses $ 3,962,220 $ 3,690,337

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	(11) Income Taxes The Company is subject to federal, state and local corporate income taxes. The components of the provision for income taxes reflected on the consolidated statements of operations are set forth below: (in thousands) 2018 2017 Current taxes: U.S. federal $ — $ — State and local (112 ) — Foreign 56 197 Total current tax expense (benefit) $ (56 ) $ 197 Deferred taxes: U.S. federal $ (18,394 ) $ (1,061 ) State and local (4,350 ) 217 Foreign 432 (1,975 ) Total deferred tax expense (benefit) $ (22,312 ) $ (2,819 ) Total tax (benefit) provision $ (22,368 ) $ (2,622 ) A reconciliation of the statutory U.S. federal income tax rate to the Company’s effective income tax rate is set forth below: For the Years Ended 2018 2017 U.S. statutory federal income tax rate 21.0 % 34.0 % State income taxes, net of federal tax benefit 2.7 % 81.5 % Effect of permanent differences -4.7 % -2.1 % Foreign tax rate differential -1.7 % -16.2 % Change to valuation allowance 59.7 % 909.4 % Change in federal rate — % -1091.6 % Foreign repatriation — % -6.0 % Stock compensation — % 230.6 % True-ups -.3 % -26.2 % Effective income tax rate 76.7 % 113.4 % Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when such differences are expected to reverse. Significant components of the Company’s net deferred tax assets and liabilities are set forth below: As of December 31, (in thousands) 2018 2017 Deferred tax assets: Operating loss carryforward $ 43,619 $ 50,535 Capital loss carryforward — 432 Goodwill 4,104 1,919 Intangible assets 1,453 3,116 Accrued expenses 863 409 Depreciation 668 139 R&D 3 — Other 386 820 Total deferred tax assets 51,096 57,370 Goodwill — (1,711 ) Deferred Revenue (341 ) — Intangible Assets (246 ) (568 ) Total deferred tax liabilities (587 ) (2,279 ) Less: valuation allowance (32,458 ) (54,122 ) Net deferred tax asset (liability) $ 18,051 $ 969 The Company accounts for its income taxes in accordance with ASC 740-10. Under ASC 740-10, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their tax bases. ASC 740-10 also requires that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some or all of the deferred tax assets will not be realized based on all available positive and negative evidence. In 2017, the Company had 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. In December 2018, the Company released $16.4 million of its valuation allowance based on projected future taxable income which is primarily attributable to the sale of BoardEx and The Deal on February 14, 2019. 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 2017 the company released $820 thousand of U.S. valuation allowance. Due to the passage of the Tax Cut and Jobs Act the company was able to net a portion of its indefinite lived intangibles with it’s deferred tax assets since tax losses generated after 2017 do not expire. The Company had approximately $150 million and $173 million of federal net operating loss carryforwards (“NOL”) as of December 31, 2018 and 2017, respectively. The federal losses are available to offset future taxable income through 2037 and expire from 2019 through 2037. The Company had approximately $71 million and $78 million of New York and New York City pre-apportioned NOL as of December 31, 2018 and 2017, respectively; these NOLs are limited to 10% utilization per year. New York and New York City had additional post apportioned NOL of $3 million at December 31, 2018 and 2017. All other states combined had approximately $11.7 million and 16.8 million total NOL as of December 31, 2018 and 2017, respectively. 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 from 2019 through 2037. The company also has approximately $10.5 million in U.K. NOLs as of December 31, 2018. 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 (“IRC”). 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. The company had previous ownership changes in 2000 and 2007. The annual limitation imposed under the 2000 ownership change expired in 2013 and the limitation imposed by the 2007 ownership change ended in 2014. Both annual limitations on the ability to utilize NOL’s has ended. The Company files U.S. Federal, State and Foreign tax returns and has determined that its major tax jurisdictions are the United States, India and the United Kingdom. In most instances, we are no longer subject to federal, state and local income tax examinations by tax authorities for years prior to 2015 except for India which generally has a longer statute period. The company is currently not under examination by any federal, state or local jurisdiction. The Company recorded an expense of $45 thousand related to state income tax nexus pursuant to ASC 740-10 for the year ended December 31, 2018. The Company had no uncertain tax positions pursuant to ASC 740-10 for the year ended December 31 2017. To the extent these unrecognized tax benefits are ultimately settled, $45 thousand will impact the company’s effective tax rate in a future period. The company does not expect any significant change to the reserve over the next 12 months. As of December 31, (in thousands) 2018 2017 Beginning balance Additions for tax positions acquired $ — $ — Additions for tax positions related to current year 45 — Additions due to interest accrued — — Tax positions of prior years — — Payments — — Settlements — — Due to lapsed SOL — — Ending Balance $ 45 $ — The Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The income tax effects of changes in tax laws are recognized in the period when enacted. The Tax Act provides for significant tax law changes and modifications with varying effective dates, which include reducing the U.S. federal corporate income tax rate from 35% to 21%, creating a territorial tax system (with a one-time mandatory repatriation tax on previously deferred foreign earnings), and allowing for immediate capital expensing of certain qualified property acquired and placed in service after September 27, 2017 and before January 1, 2023. In response to the enactment of the Tax Act in late 2017, the U.S. Securities and Exchange Commission issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address situations where the accounting is incomplete for certain income tax effects of the Tax Act upon issuance of an entity’s financial statements for the reporting period in which the Tax Act was enacted. The measurement period allowed by SAB 118 has closed during the fourth quarter of 2018 in which the Company did not record any adjustments to the $25.5 million recorded in 2017 for the re-measurement of its deferred tax balances which was offset by a reduction in the valuation allowance resulting in no tax expense. The amount of post-1986 undistributed net earnings and profits of the Company’s foreign subsidiaries was approximately $.8 million at December 31, 2017. The Company utilized net operating losses to offset the income inclusion. The Company finalized its calculation resulting in an increase to its NOL carryforward and valuation allowance by approximately $10 thousand for the one time mandatory repatriation. The prospects of supplemental legislation or regulatory processes to address uncertainties that arise due to the Act, or evolving technical interpretations of the tax law, may cause the Company’s financial statements to be impacted in the future. The Company will continue to analyze the effects of the Act as subsequent guidance continues to emerge. The Tax Act also includes a provision to tax global intangible low-taxed income (“GILTI”) of foreign subsidiaries. The FASB Staff Q&A Topic No. 5, Accounting for Global Intangible Low-Taxed Income, states that an entity can make an accounting policy election either to recognize deferred taxes for temporary differences that are expected to reverse as GILTI in future years or provide for the tax expense related to GILTI resulting from those items in the year the tax is incurred. We have elected to recognize the resulting tax on GILTI as a period expense in the period the tax is incurred. Prior to 2018 the company has not provided for foreign withholding taxes on approximately $0.9 million of undistributed earnings from its non-U.S. subsidiary because such earnings were intended to be indefinitely reinvested outside of the United States. If these earnings were distributed, foreign withholding tax of approximately $155 thousand may become due. During the fourth quarter of 2018 the company entered into an agreement to sell the assets of BoardEx and The Deal which includes the stock of India. Due to the inclusion of India’s earning and profits under IRC section 965 in December 2017 there would not be any material outside basis difference between tax and book. The foreign earnings that the Company may repatriate to the United States in any year is limited to the amount of current year foreign earnings and are not made out of historic undistributed accumulated earnings. The amount of current year foreign earnings that are available for repatriation is determined after consideration of all foreign cash requirements including working capital needs, potential requirements for litigation and regulatory matters, and merger and acquisition activities, among others.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Stockholders' Equity	(12) Stockholders’ Equity Exchange Agreement On November 10, 2017, the Company entered into an Exchange Agreement (the “Exchange Agreement”) with TCV VI, L.P., a Delaware limited partnership (“TCV VI”), and TCV Member Fund, L.P., a Cayman Islands exempted limited partnership (“TCV Member Fund” and, together with TCV VI, the “TCV Holders”), which provided for, among other things, the exchange by the TCV Holders of all shares of Series B Preferred Stock (see below) of the Company held by them for an aggregate of (i) 6,000,000 shares of newly issued common stock, par value $0.01 per share of the Company (“Common Stock”) having a value of $5,520,000, and (ii) cash consideration in the amount of $20,000,000 (the “Exchange Transaction”). The Exchange Transaction closed on November 10, 2017. The retirement of the Series B Preferred Stock removes, among other rights of the TCV Holders and restrictions on the Company, a $55 million liquidation preference previously held by TCV. The company incurred approximately $891,000 of direct expenses related to the transaction. The Company has reflected the exchange transaction as an extinguishment of the Series B Preferred Stock and recorded the difference of approximately $22,368,000 between the carrying value of approximately $48,838,000 and the fair value of the consideration, including direct expenses, as a capital contribution from the Company’s preferred stockholders in its statement of operations and stockholders’ equity. Purchase Agreement On November 10, 2017, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with 180 Degree Capital Corp. (“180 Degree Capital”) and TheStreet SPV Series, a limited liability company series of 180 Degree Capital Management, LLC (the “Investors”), pursuant to which the Company sold and issued 7,136,363 shares of its Common Stock, to the Investors at a purchase price of $1.10 per Common Stock in a closing that occurred on November 10, 2017 (the “Financing Transaction”). The closing bid price of the Company’s Common Stock as reported by NASDAQ on November 9, 2017, was $0.92 per share, and the Financing Transaction closed on November 10, 2017. Registration Rights Agreement In connection with the Exchange and Financing Transaction, the Company agreed to register the shares for resale and the Company filed a registration statement with the Securities and Exchange Commission. The TCV Holders and the Investors received additional registration rights as set forth in the transaction documents. Treasury Stock In December 2000, the Company’s Board of Directors authorized the repurchase of up to $10 million of the Company’s Common Stock, from time to time, in private purchases or in the open market. In February 2004, the Company’s Board of Directors approved the resumption of the stock repurchase program (the “Program”) under new price and volume parameters, leaving unchanged the maximum amount available for repurchase under the Program. However, the affirmative vote of the holders of a majority of the outstanding shares of Series B Preferred Stock, voting separately as a single class, was necessary for the Company to repurchase its Common Stock (except as described above). During the years ended December 31, 2018 and 2017, the Company did not purchase any shares of Common Stock under this Program. Since inception of the Program, the Company has purchased a total of 5,453,416 shares of Common Stock at an aggregate cost of approximately $7.3 million. 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 repurchases are being executed from time to time in the open market or in privately negotiated transactions, subject to management’s evaluation of the trading price of the security, market conditions and other factors. 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 price of the security, market conditions and other factors. The repurchase 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 year ended December 31, 2018, 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. There were no shares repurchased during the year ended December 31, 2017. In addition, pursuant to the terms of the Company’s 2007 Plan, and certain procedures adopted 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. Through December 31, 2018, the Company had withheld an aggregate of 2,178,829 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. Stock Options Under the terms of the 1998 Stock Incentive Plan (the “1998 Plan”), 8,900,000 shares of Common Stock of the Company were reserved for awards of incentive stock options, nonqualified stock options, restricted stock, deferred stock, restricted stock units, or any combination thereof. Under the terms of the 2007 Plan, 7,750,000 shares of Common Stock of the Company were reserved for awards of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units or other stock-based awards. At the Company’s May 2018 board meeting, the number of shares available for grant was increased by 5,200,000 shares. The 2007 Plan also authorized cash performance awards. Additionally, under the terms of the 2007 Plan, unused shares authorized for award under the 1998 Plan are available for issuance under the 2007 Plan. No further awards will be made under the 1998 Plan. Awards may be granted to such directors, employees and consultants of the Company as the Compensation Committee of the Board of Directors shall select in its discretion or delegate to management to select. Only employees of the Company are eligible to receive grants of incentive stock options. Awards generally vest over a three- to five-year period and stock options generally have terms of five to seven years. As of December 31, 2018, there remained approximately 3.4 million shares available for future awards under the 2007 Plan. In connection with awards under both the 2007 Plan and awards issued outside of the Plan as inducement grants to new hires, the Company recorded approximately $2.5 million and $1.6 million of noncash stock-based compensation for the years ended December 31, 2018 and 2017, respectively. A stock option represents the right, once the option has vested and become exercisable, to purchase a share of the Company’s Common Stock at a particular exercise price set at the time of the grant. A restricted stock unit (“RSU”) represents the right to receive one share of the Company’s Common Stock (or, if provided in the award, the fair market value of a share in cash) on the applicable vesting date for such RSU. Until the stock certificate for a share of Common Stock represented by an RSU is delivered, the holder of an RSU does not have any of the rights of a stockholder with respect to the Common Stock. However, the grant of an RSU includes the grant of dividend equivalents with respect to such RSU. The Company records cash dividends for RSUs to be paid in the future at an amount equal to the rate paid on a share of Common Stock for each then-outstanding RSU granted. The accumulated dividend equivalents related to outstanding grants vest on the applicable vesting date for the RSU with respect to which such dividend equivalents were credited and are paid in cash at the time a stock certificate evidencing the shares represented by such vested RSU is delivered. As of December 31, 2018, there is no dividend accrual as the Company has not declared a dividend since 2016. A summary of the activity of the 2007 Plan, and awards issued outside of the Plan pertaining to stock option grants is as follows: Shares Weighted Aggregate Weighted Awards outstanding, December 31, 2016 5,900,731 $ 1.52 Options granted 260,000 $ 0.87 Options exercised — $ — Options forfeited (41,368 ) $ 1.15 Options expired (627,435 ) $ 1.77 Awards outstanding, December 31, 2017 5,491,928 $ 1.46 $ 874 3.39 Options granted 282,333 $ 2.02 Options exercised (8,000 ) $ 1.20 Options forfeited (182,752 ) $ 2.15 Options expired (1,864,626 ) $ 1.81 Awards outstanding, December 31, 2018 3,718,883 $ 1.29 $ 2,806 4.12 Awards vested and expected to vest at December 31, 2018 3,713,646 $ 1.29 $ 2,800 4.12 Awards vested at December 31, 2018 3,104,819 $ 1.30 $ 2,309 3.95 A summary of the activity of the 2007 Plan pertaining to grants of restricted stock units is as follows: Shares Aggregate Weighted Awards outstanding, December 31, 2016 717,995 Restricted stock units granted 597,788 Restricted stock units settled by delivery of Common Stock upon vesting (818,282 ) Restricted stock units forfeited (50,833 ) Awards outstanding, December 31, 2017 446,668 $ 648 0.62 Restricted stock units granted 3,149,720 Restricted stock units settled by delivery of Common Stock upon vesting (686,676 ) Restricted stock units forfeited (64,722 ) Awards outstanding, December 31, 2018 2,844,990 $ 5,775 2.24 Awards vested and expected to vest at December 31, 2018 2,748,240 $ 5,579 1.31 A summary of the status of the Company’s unvested share-based payment awards as of December 31, 2018 and changes in the year then ended is as follows: Unvested Awards Awards Weighted 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 (1,348,984 ) $ 0.35 Shares underlying restricted stock units settled by delivery of Common Stock upon vesting (686,676 ) $ 1.14 Shares underlying unvested options forfeited (3,752 ) $ 0.43 Shares underlying unvested restricted stock units forfeited (64,722 ) $ 1.72 Shares underlying awards unvested at December 31, 2018 3,459,054 $ 1.47 For the years ended December 31, 2018 and 2017, approximately 282 thousand and 260 thousand stock options, respectively, were granted to employees of the Company. During the year ended December 31, 2018, approximately 8 thousand stock options were exercised, resulting in approximately $10 thousand of cash proceeds to the Company. No stock options were exercised during the year ended December 31, 2017. For the years ended December 31, 2018 and 2017, approximately 3.1 million and 598 thousand restricted stock units, respectively, were granted to employees of the Company, and 687 thousand and 818 thousand, respectively, were issued under restricted stock unit grants. For the years ended December 31, 2018 and 2017, the total fair value of share-based awards vested was approximately $1.9 million and $1.6 million, respectively. For the years ended December 31, 2018 and 2017, the total intrinsic value of options exercised was $8 thousand and $0, respectively. For the years ended December 31, 2018 and 2017, the total intrinsic value of restricted stock units that vested was approximately $1.3 million and $921 thousand, respectively. As of December 31, 2018, there was approximately 6.6 million stock option and restricted stock unit grants outstanding, having a total value of $3.6 million of unrecognized stock-based compensation expense remaining to be recognized. With the sale of our B2B business, the Company’s Board of Directors has accelerated the vesting of all outstanding stock options and restricted stock units as of February 25, 2019.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(13) Commitments and Contingencies Operating Leases and Employment Agreements The Company is committed under operating leases, principally for office space, which expire at various dates through January 2026. Certain leases contain escalation clauses relating to increases in property taxes and maintenance costs. Rent expense was approximately $2.2 million and $2.0 million for the years ended December 31, 2018 and 2017, respectively. Additionally, the Company has agreements with certain of its employees and outside contributors, whose future minimum payments are dependent on the future fulfillment of their services thereunder. As of December 31, 2018, total future minimum cash payments are as follows: Payments Due by Year Contractual Obligations: Total 2019 2020 2021 2022 2023 After 2023 Operating leases $ 5,799,274 $ 2,482,212 $ 2,135,754 $ 354,767 $ 376,036 $ 377,676 $ 72,829 Employment Agreement 7,500,000 2,500,000 2,500,000 2,500,000 — — — Outside Contributors 137,500 137,500 — — — — — Total contractual cash obligations $ 13,436,774 $ 5,119,712 $ 4,635,754 $ 2,854,767 $ 376,036 $ 377,676 $ 72,829 Legal Proceedings The Company is party to legal proceedings arising in the ordinary course of business or otherwise, none of which is deemed material.

Restructuring and Other Charges

Restructuring and Other Charges	12 Months Ended
	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges	(14) Restructuring and Other Charges During the year ended December 31, 2017, the Company implemented a targeted reduction in force which resulted in restructuring and other charges of approximately $439 thousand.

Other Liabilities

Other Liabilities	12 Months Ended
	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Other Liabilities	(15) Other Liabilities Other liabilities consist of the following: As of December 31, 2018 2017 Deferred revenue $ 935,160 $ 629,309 Deferred rent 599,906 912,201 Other liabilities — 2,092 $ 1,535,066 $ 1,543,602

Employee Benefit Plan

Employee Benefit Plan	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Employee Benefit Plan	(16) Employee Benefit Plan The Company maintains a noncontributory savings plan in accordance with Section 401(k) of the Internal Revenue Code. The 401(k) plan covers all eligible employees. For the years ended December 31, 2018 and 2017, the plan provided an employer matching contribution of 50% of employee contributions, up to a maximum employee contribution of 6% of their total compensation within statutory limits. The Company’s matching contribution for the year ended December 31, 2018 and 2017 totaled approximately $699 thousand and $692 thousand, respectively.

Segment and Geographic Data

Segment and Geographic Data	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Segment and Geographic Data	(17) Segment and Geographic Data Segments The Company reports its results in two segments: (i) Business to Business and (ii) Business to Consumer, which is primarily comprised of the Company’s premium subscription newsletter products and website advertising. For the Year Ended December 31, 2018 2017 Revenue: - Business to business $ 25,578,345 $ 23,776,148 - Business to consumer 27,511,107 31,018,693 Total $ 53,089,452 $ 54,794,841 Operating loss: - Business to business $ (4,518,467 ) $ (2,227,236 ) - Business to consumer (24,823,715 ) (131,706 ) Total $ (29,342,182 ) $ (2,358,942 ) Net interest income: - Business to business $ 86,363 $ 2,227 - Business to consumer 95,342 44,580 Total $ 181,705 $ 46,807 Benefit for income taxes: - Business to business $ 18,104,273 $ 1,778,429 - Business to consumer 4,263,129 843,932 Total $ 22,367,402 $ 2,622,361 Net (loss) income from continued operations: - Business to business $ 13,672,476 $ 861,614 - Business to consumer (20,465,551 ) (551,388 ) Total $ (6,793,075 ) $ 310,226 Due to the nature of the Company’s operations, a majority of its assets are utilized across all 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 In 2018 and 2017, substantially all of the Company’s revenue were from customers in the United States and substantially all of its long-loved assets are located in the United States. The remainder of the Company’s revenue and its long-lived assets are a result of its BoardEx operations outside of the United States, which is headquartered in London, England.

Organization, Nature of Busin_2

Organization, Nature of Business and Summary of Operations and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business	Organization and Nature of Business 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 subscription products and advertising revenue. From time to time, the Board of Directors and our senior management team review and evaluate strategic opportunities and alternatives as part of a long-term strategy to increase stockholder value. Such opportunities and alternatives include remaining as a stand-alone entity, potential acquisitions of companies, businesses or assets that align with our strategic objectives and potential dispositions of one or more of our businesses. The Board’s consideration of strategic opportunities and alternatives took on a renewed focus following the realignment of our capital structure in November 2017, with the Board determining to review, among other things, our mix of businesses with a view to possibly unlocking the value the Board believed was in our portfolio as well as possibly growing our businesses through acquisitions. This unlocking of value began through the divestiture of our RateWatch business in June 2018 for a sale price of $33.5 million and continued through the sale of our business-to-business units, The Deal and BoardEx, for $87.3 million in February 2019. Discontinued Operations
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“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 date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the consolidated financial statements in the period they are deemed to be necessary. Significant estimates made in the accompanying consolidated financial statements include, but are not limited to, the following: ● useful lives of intangible assets, ● useful lives of property and equipment, ● the carrying value of goodwill, intangible assets and marketable securities, ● allowances for doubtful accounts and deferred tax assets, ● accrued expense estimates, ● reserves for deferred tax assets and liabilities, and ● certain estimates and assumptions used in the calculation of the fair value of equity compensation issued to employees.
Consolidation	Consolidation The consolidated financial statements have been prepared in accordance with GAAP and include the accounts of TheStreet, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Revenue Recognition	Revenue Recognition We report revenue in two categories: business to business (B2B) and business to consumer (B2C). B2B 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 as well as events/conferences, information services and other miscellaneous revenue. B2C revenue is primarily comprised of subscriptions that provide access to securities investment information and stock market commentary, advertising and sponsorships and other miscellaneous revenue. Subscriptions are charged to customers’ credit cards or are directly billed to corporate subscribers, and are generally billed in advance on a monthly, quarterly or annual basis. The Company calculates net subscription revenue by deducting from gross revenue an estimate of potential refunds from cancelled subscriptions as well as chargebacks of disputed credit card charges. Net subscription revenue is recognized ratably over the subscription periods. Deferred revenue relates to payments for subscription fees for which revenue has not been recognized because services have not yet been provided. Subscription revenue is subject to estimation and variability due to the fact that, in the normal course of business, subscribers may for various reasons contact us or their credit card companies to request a refund or other adjustment for a previously purchased subscription. With respect to many of our B2C products, we offer the ability to receive a refund during the first 30 days but none thereafter. Accordingly, we maintain a provision for estimated future revenue reductions resulting from expected refunds and chargebacks related to subscriptions for which revenue was recognized in a prior period. The calculation of this provision is based upon historical trends and is reevaluated each quarter. The provision was not material for the years ended December 31, 2018 and 2017. Advertising revenue is comprised of fees charged for the placement of advertising and sponsorships, primarily within TheStreet.com
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash The Company considers all short-term investment-grade securities with original maturities of three months or less from the date of purchase to be cash equivalents. As of December 31, 2018, the Company has a total of $500 thousand of cash that serves as collateral for an outstanding letter of credit, which cash is classified as restricted. The letter of credit serves as a security deposit for the Company’s office space in New York City.
Property and Equipment	Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation and amortization. Property and equipment are depreciated on a straight-line basis over the estimated useful lives of the assets. The estimated useful life of computer equipment, computer software and telephone equipment is three years and of furniture and fixtures is five years. Leasehold improvements are amortized on a straight-line basis over the shorter of the respective lease term or the estimated useful life of the asset. If the useful lives of the assets differ materially from the estimates contained herein, additional costs could be incurred, which could have an adverse impact on the Company’s expenses.
Capitalized Software and Website Development Costs	Capitalized Software and Website Development Costs The Company expenses all costs incurred in the preliminary project stage for software developed for internal use and capitalizes all external direct costs of materials and services consumed in developing or obtaining internal-use computer software in accordance with Accounting Standards Codification (“ASC”) 350, Intangibles – Goodwill and Other . The Company also accounts for its Website development costs under ASC 350 , Capitalized software and Website development costs are amortized using the straight-line method over the estimated useful life of the software or Website, which varies based upon the project. For the years ended December 31, 2018 and 2017, amortization expense was approximately $1.9 million and $2.2 million, respectively.
Goodwill and Indefinite Lived Intangible Assets	Goodwill and Indefinite Lived Intangible Assets Goodwill represents the excess of purchase price over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. Goodwill is evaluated for impairment annually by first performing a qualitative assessment to determine whether a quantitative goodwill test is necessary. After assessing the totality of events or circumstances, if we determine it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then we perform additional quantitative tests to determine the magnitude of any impairment. The Company performs its annual impairment tests as of October 1 each year. The Company operates in two distinct operating segments: Business to Business and Business to Consumer. These operating segments also represent the Company’s reporting units. The Company tests goodwill using a quantitative analysis consisting of a comparison of the carrying value of each of our reporting units, including goodwill, to the estimated fair value of each of our reporting units using both a market approach and an income approach. The market approach was performed for the valuation of the Company’s Common Stock based upon actual prices of the Company’s common stock. The Company also performed an income approach to confirm the reasonableness of these results using the discounted cash flow methodology. If the carrying value of the reporting unit exceeds the fair value of such reporting unit, we would then calculate the amount of impairment loss which is equivalent to the reporting unit’s carrying value of goodwill less the implied fair value of such goodwill. As discussed below, we also used a discounted cash flow methodology, or DCF. Our use of a DCF methodology includes estimates of future revenue based upon budget projections and growth rates which take into account estimated inflation rates. We also develop estimates for future levels of gross and operating profits and projected capital expenditures. Our methodology also includes the use of estimated discount rates based upon industry and competitor analysis as well as other factors. The estimates that we use in our DCF methodology involve many assumptions by management that are based upon future growth projections. Based upon the annual impairment test performed as of October 1, 2018, the Company concluded that the Business-to-Consumer segment was impaired by $15.1 million and was further impaired by an additional $6.4 million at December 31, 2018, resulting in a total impairment of the goodwill for this business segment. The business-to-business reporting units estimated fair value, based upon its February 2019 selling price, exceeded its carrying value by approximately 376% as October 1, 2018. Additionally, the Company evaluates the remaining useful lives of intangible assets each year to determine whether events or circumstances continue to support their useful life. There have been no changes in useful lives of intangible assets for each period presented.
Long-Lived Assets	Long-Lived Assets The Company evaluates long-lived assets, including amortizable identifiable intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Upon such an occurrence, recoverability of assets is measured by comparing the carrying amount of an asset to forecasted undiscounted net cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset. Management does not believe that there was any impairment of long-lived assets as of December 31, 2018 or 2017.
Income Taxes	Income Taxes The Company accounts for its income taxes in accordance with ASC 740-10, Income Taxes ASC 740-10 also prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. Differences between tax positions taken or expected to be taken in a tax return and the benefit recognized and measured pursuant to the interpretation are referred to as “unrecognized benefits.” A liability is recognized for an unrecognized tax benefit because it represents an enterprise’s potential future obligation to the taxing authority for a tax position that was not recognized as a result of applying the provisions of ASC 740-10. Interest costs related to unrecognized tax benefits would be classified within “Net interest income” in the consolidated statements of operations. Penalties would be recognized as a component of “General and administrative” expense.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of accounts and other receivables, accounts payable, accrued expenses and deferred revenue approximate fair value due to the short-term maturities of these instruments.
Business Concentrations and Credit Risk	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 December 31, 2018, the Company’s cash, cash equivalents and restricted cash primarily consisted of checking accounts and money market funds. For the years ended December 31, 2018 and 2017, no single customer accounted for 10% or more of consolidated revenue. As of December 31, 2018, two customers accounted for more than 10% of consolidated accounts receivable. As of December 31, 2017, one customer accounted for more than 10% of consolidated accounts receivable. The Company’s customers are primarily concentrated in the United States and Europe. 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 estimates.
Other Comprehensive Loss	Other Comprehensive Income Comprehensive income is a measure which includes both net income and other comprehensive income. Other comprehensive income results from items deferred from recognition into the statement of operations. Accumulated other comprehensive loss is separately presented on both the Company’s consolidated balance sheet and as part of the consolidated statement of stockholders’ equity. Other comprehensive income consists of unrealized gains and losses on marketable securities classified as available for sale as well as foreign currency translation adjustments from subsidiaries where the local currency is the functional currency.
Foreign Currency	Foreign Currency The functional currency of the Company’s international subsidiaries is the local currency. The financial statements of these subsidiaries are translated into U.S. dollars using period-end rates of exchange for assets and liabilities, historical rates of exchange for equity, and monthly average rates of exchange for the period for revenue and expense. Translation gains (losses) are recorded in accumulated other comprehensive loss as a component of stockholders’ equity. Gains and losses resulting from currency transactions are included in earnings.
Net Income Per Share of Common Stock	Net Income Per Share of Common Stock Basic net income per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income 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 income 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). As of the year ended December 31, 2018, approximately 1.6 million of unvested restricted stock units and vested and unvested options to purchase Common Stock were included in the calculation of the diluted earnings per share attributable to the common stockholders. As of the year ended December 31, 2017, approximately 218 thousand of unvested restricted stock units and vested and unvested options to purchase Common Stock were included in the calculation of the diluted earnings per share attributable to the common stockholders.
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred. For the years ended December 31, 2018 and 2017, advertising expense totaled approximately $2.0 million and $1.8 million, respectively.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC 718-10, Share Based Payment Transactions Stock-based compensation expense recognized for the years ended December 31, 2018 and 2017 was approximately $2.5 million and $1.6 million, respectively. As of December 31, 2018, there were 6.6 million stock option and restricted stock unit grants outstanding, having a total value of approximately $3.6 million of unrecognized stock-based compensation expense remaining. With the sale of our B2B business, the Company’s Board of Directors has accelerated the vesting of all outstanding stock options and restricted stock units as of February 25, 2019. Stock-based compensation expense recognized in the Company’s consolidated statements of operations for the years ended December 31, 2018 and 2017 includes compensation expense for all stock-based payment awards based upon the estimated grant date fair value. The Company recognizes compensation expense for stock-based payment awards on a straight-line basis over the requisite service period of the award. As stock-based compensation expense recognized in the years ended December 31, 2018 and 2017 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 periods. 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 years ended December 31, 2018 and 2017 was $0.42 and $0.28, respectively, using the Black-Scholes model with the following weighted-average assumptions: For the Years Ended December 31, 2018 2017 Expected option lives 1.8 years 4.2 years Expected volatility 47.28 % 37.58 % Risk-free interest rate 2.47 % 1.69 % Expected dividends 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 years ended December 31, 2018 and 2017 was $1.68 and $0.90, respectively.
2007 Performance Incentive Plan	2007 Performance Incentive Plan In 2007, the Company adopted the 2007 Plan, whereby executive officers, directors, employees and consultants may be eligible to receive cash or equity-based performance awards based on set performance criteria. In 2018 and 2017, the Compensation Committee granted short-term cash performance awards, payable to certain officers, upon the Company’s achievement of specified performance goals for such year as defined by the Compensation Committee. The target short-term cash bonus opportunities for officers reflected a percentage of the officer’s base salary. Potential payout was zero if a threshold percentage of the target was not achieved and a sliding scale thereafter, subject to a cap, starting at a figure less than 100% if the threshold was achieved but the target was not met and ending at a figure above 100% if the target was exceeded. Short-term incentives of approximately $756 thousand and $799 thousand were deemed earned with respect to the years ended December 31, 2018 and 2017, respectively.
New Accounting Pronouncements	New 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

Organization, Nature of Busin_3

Organization, Nature of Business and Summary of Operations and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of stock option weighted-average assumptions	The weighted-average grant date fair value per share of stock option awards granted during the years ended December 31, 2018 and 2017 was $0.42 and $0.28, respectively, using the Black-Scholes model with the following weighted-average assumptions: For the Years Ended December 31, 2018 2017 Expected option lives 1.8 years 4.2 years Expected volatility 47.28 % 37.58 % Risk-free interest rate 2.47 % 1.69 % Expected dividends 0.00 % 0.00 %

Revision of Prior Period Fina_2

Revision of Prior Period Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2018
Revision Of Prior Period Financial Statements
Schedule of presentation of consolidated balance sheets and statementsof operations	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 Reclassification As Revised Deferred tax liability $ 1,932,606 $ (925,852 ) — $ 803,917 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 $ (185,801 ) $ 2,622,361 Net income 2,626,837 925,852 — $ 3,552,689

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 31, 2018
Revenues [Abstract]
Schedule of disaggregation of revenue	The following table presents our revenues disaggregated by revenue discipline. For the Year Ended December 31, 2018 2017 Subscription $ 43,171,702 $ 41,887,071 Advertising 6,569,580 9,641,485 Other 3,348,170 3,266,285 Total Revenue $ 53,089,452 $ 54,794,841

Divestiture (Tables)

Divestiture (Tables)	12 Months Ended
	Dec. 31, 2018
Divestiture Tables Abstract
Schedule of discontinued operations of ratewatch in the Consolidated Balance Sheets	The following table presents the discontinued operations of RateWatch in the 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 Total Liabilities $ 4,767,397
Schedule of discontinued operations of ratewatch in the Consolidated Statement of Operations	The following table presents the discontinued operations of RateWatch in the Consolidated Statement of Operations: For the Year For the Year Ended Ended December 31, 2018 December 31, 2017 Net revenue $ 3,943,583 $ 7,674,548 Operating expense: Cost of services 870,447 1,809,065 Sales and marketing 718,309 1,333,105 General and administrative 272,088 663,136 Depreciation and amortization 160,293 781,545 Restructuring and other charges — 31,035 Transaction costs 163,475 — Total operating expense 2,184,612 4,617,886 Operating income 1,758,971 3,056,662 (Provision) benefit for income taxes (318,962 ) 185,801 Net income $ 1,440,009 $ 3,242,463
Schedule of discontinued operations of ratewatch in the Consolidated Statements of Cash Flows	The following table presents the discontinued operations of RateWatch in the Consolidated Statements of Cash Flows: For the Year Ended For the Year Ended December 31, 2018 December 31, 2017 Net cash provided by operating activities $ 2,103,406 $ 3,912,276 Net cash used in investing activities (37,006) (52,740 ) Net increase in cash, cash equivalents and restricted cash $ 2,066,400 $ 3,859,536

Net Income Per Share (Tables)

Net Income Per Share (Tables)	12 Months Ended
	Dec. 31, 2018
Net (loss) income per share:
Schedule of earnings per share reconciles	The following table reconciles the numerator and denominator for the calculation. For the Years Ended December 31, 2018 2017 Basic and diluted net income per share Numerator: Net income $ 8,214,574 $ 3,552,689 Capital contribution attributable to preferred shareholders — 22,367,520 Numerator for basic and diluted earnings per share - Net income attributable to common stockholders $ 8,214,574 $ 25,920,209 Denominator: Weighted average basic shares outstanding 49,425,372 37,624,103 Weighted average diluted shares outstanding 51,047,059 37,842,479 Basic and diluted net loss per share: Basic net income attributable to common stockholders $ 0.37 $ 0.69 Diluted net income attributable to common stockholders $ 0.36 $ 0.68

Cash and Cash Equivalents, Ma_2

Cash and Cash Equivalents, Marketable Securities and Restricted Cash (Tables)	12 Months Ended
	Dec. 31, 2018
Cash, Cash Equivalents, and Short-term Investments [Abstract]
Schedule of cash cash equivalents marketable securities and restricted cash	The letter of credit serves as security deposits for the Company’s office space in New York City. As of December 31, 2018 2017 Cash and cash equivalents $ 37,029,262 $ 11,684,817 Marketable securities 1,850,000 1,680,000 Restricted cash 500,000 500,000 Total cash, cash equivalents, marketable securities and restricted cash $ 39,379,262 $ 13,864,817

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of financial statements and measured at fair value	Financial assets and liabilities included in the Company’s financial statements and measured at fair value are classified based on the valuation technique level in the table below: As of December 31, 2018 Description: Total Level 1 Level 2 Level 3 Cash and cash equivalents (1) $ 37,029,262 $ 37,029,262 $ — $ — Restricted cash (1) 500,000 500,000 — — Marketable securities (2) 1,850,000 — — 1,850,000 Total at fair value $ 39,379,262 $ 37,529,262 $ — $ 1,850,000 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 $37.5 million and $12.2 million as of December 31, 2018 and 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 $1.9 million and $1.7 million as of December 31, 2018 and 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 December 31, 2018, the Company determined that the fair value of its ARS investments equaled its cost basis. The Company used a discounted cash flow and market approach model to determine the approximated fair value of its investment in ARS. The assumptions used in preparing the discounted cash flow model include estimates for interest rate, timing and amount of cash flows and expected holding period of ARS. (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 full during the second quarter of 2018.
Schedule of assets and liabilities measured at fair value using significant unobservable inputs (Level 3)	The following table provides 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, 2016 $ 1,550,000 Change in fair value of investment 130,000 Balance December 31, 2017 1,680,000 Change in fair value of investment 170,000 Balance December 31, 2018 $ 1,850,000 Contingent Balance December 31, 2016 $ 907,657 Accretion of net present value 44,210 Balance December 31, 2017 951,867 Payment made May 2018 (951,867 ) Balance December 31, 2018 $ —

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment as of December 31, 2018 and 2017 consists of the following: As of December 31, 2018 2017 Computer equipment and software $ 1,882,246 $ 1,767,386 Furniture and fixtures and telephone equipment 1,910,084 1,889,937 Leasehold improvements 3,936,912 3,910,423 7,729,242 7,567,746 Less accumulated depreciation and amortization 6,240,110 5,475,077 Property and equipment, net $ 1,489,132 $ 2,092,669

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The changes in the carrying amount of goodwill for the years ended December 31, 2018 and 2017 were as follows: Balance as of December 31, 2016 $ 23,332,091 Exchange rate impact 236,381 Balance as of December 31, 2017 23,568,472 Impairment of goodwill (21,466,182 ) Exchange rate impact (85,873 ) Balance as of December 31, 2018 $ 2,016,417 The Company currently operates in two distinct operating segments: Business to Business and Business to Consumer. These operating segments also represented the Company’s reporting units. Business to Business Business to Consumer Total Balance December 31, 2016 $ 1,865,909 $ 21,466,182 $ 23,332,091 Exchange rate impact 236,381 — 236,381 Balance December 31, 2017 2,102,290 21,466,182 23,568,472 Impairment of goodwill — (21,466,182 ) (21,466,182 ) Exchange rate impact (85,873 ) — (85,873 ) Balance December 31, 2018 $ 2,016,417 $ — $ 2,016,417
Schedule of goodwill and intangible assets and related accumulated amortization	The Company’s goodwill and intangible assets and related accumulated amortization as of December 31, 2018 and 2017 consist of the following: As of December 31, 2018 2017 Total goodwill $ 2,016,417 $ 23,568,472 Intangible assets subject to amortization: Customer relationships 6,851,774 7,025,465 Software models 1,018,194 1,018,194 Product databases 9,878,657 9,453,096 Trade names 726,798 741,470 Capitalized website and software development 12,497,235 10,270,584 Domain names 157,065 160,425 Total intangible assets subject to amortization 31,129,723 28,669,234 Less accumulated amortization (18,668,307 ) (15,702,665 ) Net intangible assets $ 12,461,416 $ 12,966,569
Schedule of estimated amortization expense	Amortization expense totaled approximately $3.8 million and $4.2 million for the years ended December 31, 2018 and 2017, respectively. The estimated amortization expense for the next five years and thereafter is as follows: For the Years Ended December 31, Amount 2019 $ 3,610,207 2020 3,204,512 2021 2,330,899 2022 1,573,295 2023 957,043 Thereafter 785,460 Total $ 12,461,416

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Schedule of accrued liabilities	Accrued expenses as of December 31, 2018 and 2017 consist of the following: As of December 31, 2018 2017 Payroll and related costs $ 657,898 $ 2,010,745 Professional fees 1,111,582 449,394 Tax related 1,026,551 296,606 Business development 141,305 173,840 Data related 151,307 129,483 All other 873,577 630,269 Total accrued expenses $ 3,962,220 $ 3,690,337

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of components of the provision for income taxes	The Company is subject to federal, state and local corporate income taxes. The components of the provision for income taxes reflected on the consolidated statements of operations are set forth below: (in thousands) 2018 2017 Current taxes: U.S. federal $ — $ — State and local (112 ) — Foreign 56 197 Total current tax expense (benefit) $ (56 ) $ 197 Deferred taxes: U.S. federal $ (18,394 ) $ (1,061 ) State and local (4,350 ) 217 Foreign 432 (1,975 ) Total deferred tax expense (benefit) $ (22,312 ) $ (2,819 ) Total tax (benefit) provision $ (22,368 ) $ (2,622 )
Schedule of reconciliation of effective income tax rate	A reconciliation of the statutory U.S. federal income tax rate to the Company’s effective income tax rate is set forth below: For the Years Ended 2018 2017 U.S. statutory federal income tax rate 21.0 % 34.0 % State income taxes, net of federal tax benefit 2.7 % 81.5 % Effect of permanent differences -4.7 % -2.1 % Foreign tax rate differential -1.7 % -16.2 % Change to valuation allowance 59.7 % 909.4 % Change in federal rate — % -1091.6 % Foreign repatriation — % -6.0 % Stock compensation — % 230.6 % True-ups -.3 % -26.2 % Effective income tax rate 76.7 % 113.4 %
Schedule of net deferred tax assets and liabilities	Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when such differences are expected to reverse. Significant components of the Company’s net deferred tax assets and liabilities are set forth below: As of December 31, (in thousands) 2018 2017 Deferred tax assets: Operating loss carryforward $ 43,619 $ 50,535 Capital loss carryforward — 432 Goodwill 4,104 1,919 Intangible assets 1,453 3,116 Accrued expenses 863 409 Depreciation 668 139 R&D 3 — Other 386 820 Total deferred tax assets 51,096 57,370 Goodwill — (1,711 ) Trademarks — (568 ) Deferred Revenue (341 ) — Intangible Assets (246 ) — Total deferred tax liabilities (587 ) (2,279 ) Less: valuation allowance (32,458 ) (54,122 ) Net deferred tax asset $ 18,051 $ 969
Schedule of unrecognized tax benefits	The company does not expect any significant change to the reserve over the next 12 months. As of December 31, (in thousands) 2018 2017 Beginning balance Additions for tax positions acquired $ — $ — Additions for tax positions related to current year 45 — Additions due to interest accrued — — Tax positions of prior years — — Payments — — Settlements — — Due to lapsed SOL — — Ending Balance $ 45 $ —

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
Schedule of stock options activity	A summary of the activity of the 2007 Plan, and awards issued outside of the Plan pertaining to stock option grants is as follows: Shares Weighted Aggregate Weighted Awards outstanding, December 31, 2016 5,900,731 $ 1.52 Options granted 260,000 $ 0.87 Options exercised — $ — Options forfeited (41,368 ) $ 1.15 Options expired (627,435 ) $ 1.77 Awards outstanding, December 31, 2017 5,491,928 $ 1.46 $ 874 3.39 Options granted 282,333 $ 2.02 Options exercised (8,000 ) $ 1.20 Options forfeited (182,752 ) $ 2.15 Options expired (1,864,626 ) $ 1.81 Awards outstanding, December 31, 2018 3,718,883 $ 1.29 $ 2,806 4.12 Awards vested and expected to vest at December 31, 2018 3,713,646 $ 1.29 $ 2,800 4.12 Awards vested at December 31, 2018 3,104,819 $ 1.30 $ 2,309 3.95
Schedule of restricted stock units award activity	A summary of the activity of the 2007 Plan pertaining to grants of restricted stock units is as follows: Shares Aggregate Weighted Awards outstanding, December 31, 2016 717,995 Restricted stock units granted 597,788 Restricted stock units settled by delivery of Common Stock upon vesting (818,282 ) Restricted stock units forfeited (50,833 ) Awards outstanding, December 31, 2017 446,668 $ 648 0.62 Restricted stock units granted 3,149,720 Restricted stock units settled by delivery of Common Stock upon vesting (686,676 ) Restricted stock units forfeited (64,722 ) Awards outstanding, December 31, 2018 2,844,990 $ 5,775 2.24 Awards vested and expected to vest at December 31, 2018 2,748,240 $ 5,579 1.31
Schedule of unvested share-based payment awards	A summary of the status of the Company’s unvested share-based payment awards as of December 31, 2018 and changes in the year then ended is as follows: Unvested Awards Awards 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 (1,348,984 ) $ 0.35 Shares underlying restricted stock units settled by delivery of Common Stock upon vesting (686,676 ) $ 1.14 Shares underlying unvested options forfeited (3,752 ) $ 0.43 Shares underlying unvested restricted stock units forfeited (64,722 ) $ 1.72 Shares underlying awards unvested at December 31, 2018 3,459,054 $ 1.47

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of total future minimum cash payments	As of December 31, 2018, total future minimum cash payments are as follows: Payments Due by Year Contractual Obligations: Total 2019 2020 2021 2022 2023 After 2023 Operating leases $ 5,799,274 $ 2,482,212 $ 2,135,754 $ 354,767 $ 376,036 $ 377,676 $ 72,829 Employment Agreement 7,500,000 2,500,000 2,500,000 2,500,000 — — — Outside Contributors 137,500 137,500 — — — — — Total contractual cash obligations $ 13,436,774 $ 5,119,712 $ 4,635,754 $ 2,854,767 $ 376,036 $ 377,676 $ 72,829

Other Liabilities (Tables)

Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Schedule of other liabilities	Other liabilities consist of the following: As of December 31, 2018 2017 Deferred revenue $ 935,160 $ 629,309 Deferred rent 599,906 912,201 Other liabilities — 2,092 $ 1,535,066 $ 1,543,602

Segment and Geographic Data (Ta

Segment and Geographic Data (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Schedule of segment reporting	The Company reports its results in two segments: (i) Business to Business and (ii) Business to Consumer, which is primarily comprised of the Company’s premium subscription newsletter products and website advertising. For the Year Ended December 31, 2018 2017 Revenue: - Business to business $ 25,578,345 $ 23,776,148 - Business to consumer 27,511,107 31,018,693 Total $ 53,089,452 $ 54,794,841 Operating loss: - Business to business $ (4,518,467 ) $ (2,227,236 ) - Business to consumer (24,823,715 ) (131,706 ) Total $ (29,342,182 ) $ (2,358,942 ) Net interest income: - Business to business $ 86,363 $ 2,227 - Business to consumer 95,342 44,580 Total $ 181,705 $ 46,807 Benefit for income taxes: - Business to business $ 18,104,273 $ 1,778,429 - Business to consumer 4,263,129 843,932 Total $ 22,367,402 $ 2,622,361 Net (loss) income from continued operations: - Business to business $ 13,672,476 $ 861,614 - Business to consumer (20,465,551 ) (551,388 ) Total $ (6,793,075 ) $ 310,226

Organization, Nature of Busin_4

Organization, Nature of Business and Summary of Operations and Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Expected option lives	1 year 9 months 18 days	4 years 2 months 12 days
Expected volatility	47.28%	37.58%
Risk-free interest rate	2.47%	1.69%
Expected dividends	0.00%	0.00%

Organization, Nature of Busin_5

Organization, Nature of Business and Summary of Operations and Significant Accounting Policies (Details Narrative)	Jan. 02, 2019USD ($)	Oct. 01, 2018USD ($)	Feb. 28, 2019USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)Number$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares
Cash as collateral for outstanding letters of credit					$ 500,000	$ 500,000
Impairment of goodwill					$ 21,466,182
Number of shares included from EPS | shares					1,600,000	218,000
Advertising expenses					$ 2,000,000	$ 1,800,000
Share based compensation					$ 2,500,000	$ 1,600,000
Weighted average grant date fair value of option | $ / shares					$ 0.42	$ 0.28
Weighted average grant date fair value | $ / shares					$ 1.68
Operating loss carryforwards, windfall tax benefits					$ 10,500,000
Additional operating liabilities	$ 5,200,000
Unrecognized stock-based compensation expense					3,600,000
Business to Business [Member]
Impairment of goodwill
Non impairment percentage		376.00%
The Deal / BoardEx [Member] | Subsequent Event [Member]
Sale of units			$ 87,300,000
RateWatch [Member]
Sale of units				$ 33,500,000
Business to Consumer [Member]
Impairment of goodwill		$ 21,500,000			21,466,182
Business to Consumer [Member] | Indefinite-lived Intangible Assets [Member]
Impairment of goodwill		$ 15,100,000			$ 6,400,000
Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Concentration risk, percentage					10.00%	10.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Concentration risk, percentage					10.00%	10.00%
Number of customers | Number					2
Restricted Stock Units (RSUs) [Member]
Weighted average grant date fair value | $ / shares					$ 1.68	$ 0.90
Equity Option [Member] | Restricted Stock Units (RSUs) [Member]
Stock-based compensation expense outsanding | shares					6,600,000
Capitalized Website and Software Development [Member]
Amorized capitalized software and website development costs					$ 1,900,000	$ 2,200,000
Capitalized Software Development Costs [Member]
Capitalized development costs					2,200,000	1,500,000
Capitalized Website Development Costs [Member]
Capitalized development costs					$ 737,000	$ 731,000
Computer Equipment [Member]
Estimated useful life					3 years
Computer Software [Member]
Estimated useful life					3 years
Telephone Equipment [Member]
Estimated useful life					3 years
Furniture and Fixtures [Member]
Estimated useful life					5 years

Organization, Nature of Busin_6

Organization, Nature of Business and Summary of Operations and Significant Accounting Policies (Details Narrative 1) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
2007 Performance Incentive Plan [Member]
Short-term incentives	$ 756,000	$ 799,000

Revision of Prior Period Fina_3

Revision of Prior Period Financial Statements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Deferred tax liability		$ 1,006,754
Total liabilities	30,173,235	34,063,747
Accumulated deficit	(187,872,026)	(206,861,278)
Total stockholders' equity	55,568,457	34,946,801	$ 42,049,456
Benefit for income taxes	(22,367,402)	(2,622,361)
Net income	$ 18,214,574	3,552,689
Previously Reported [Member]
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
Restatement Adjustment [Member]
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
Reclassification to Discontinued Operations [Member]
Deferred tax liability
Total liabilities
Accumulated deficit
Total stockholders' equity
Benefit for income taxes		(185,801)
Net income

Revision of Prior Period Fina_4

Revision of Prior Period Financial Statements (Details Narrative)	3 Months Ended
	Mar. 31, 2018
Staff Accounting Bulletin [Member]
Description error corrections impacted of opeartions	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.

Revenues (Details)

Revenues (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Total revenue	$ 53,089,452	$ 54,794,841
Subscription [Member]
Total revenue	43,171,702	41,887,071
Advertising [Member]
Total revenue	6,569,580	9,641,485
Other [Member]
Total revenue	$ 3,348,170	$ 3,266,285

Revenues (Details Narrative)

Revenues (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Jan. 02, 2018
Accumulated deficit		$ (187,872,026)	$ (206,861,278)
Prepaid commissions	$ 1,000,000
Amortization expense	$ 139,000	$ 4,780,768	$ 5,132,259
Adoption of ASC Topic 606 [Member]
Accumulated deficit				$ 774,000

Divestiture (Details)

Divestiture (Details) - USD ($)	Dec. 31, 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
Total Liabilities		$ 4,767,397

Divestiture (Details 1)

Divestiture (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operating expense:
Restructuring and other charges		$ 438,645
Net income	1,440,009	3,242,463
RateWatch [Member]
Net revenue	3,943,583	7,674,548
Operating expense:
Cost of services	870,447	1,809,065
Sales and marketing	718,309	1,333,105
General and administrative	272,088	663,136
Depreciation and amortization	160,293	781,545
Restructuring and other charges		31,035
Transaction costs	163,475
Total operating expense	2,184,612	4,617,886
Operating income	1,758,971	3,056,662
(Provision) benefit for income taxes	(318,962)	185,801
Net income	$ 1,440,009	$ 3,242,463

Divestiture (Details 2)

Divestiture (Details 2) - RateWatch [Member] - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Net cash provided by operating activities	$ 2,103,406	$ 3,912,276
Net cash used in investing activities	(37,006)	(52,740)
Net increase in cash, cash equivalents and restricted cash	$ 2,066,400	$ 3,859,536

Divestiture (Details Narrative)

Divestiture (Details Narrative) - USD ($)	Jun. 20, 2018	Dec. 31, 2018	Dec. 31, 2017
Gain on sale of business, net of tax		$ 23,567,640
Purchase Agreement [Member] | S&P Global Market Intelligence Inc [Member]
Escrow		3,350,000
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		23,600,000
Selling price less direct costs		$ 4,900,000

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net income	$ 18,214,574	$ 3,552,689
Capital contribution attributable to preferred shareholders		22,367,520
Numerator for basic and diluted earnings per share - Net income attributable to common stockholders	$ 18,214,574	$ 25,920,209
Denominator:
Weighted average basic shares outstanding	49,425,372	37,624,103
Weighted average diluted shares outstanding	51,047,059	37,842,479
Basic and diluted net loss per share:
Basic net income attributable to common stockholders	$ 0.37	$ 0.69
Diluted net income attributable to common stockholders	$ 0.36	$ 0.68

Net Income Per Share (Details

Net Income Per Share (Details Narrative)	12 Months Ended
	Dec. 31, 2018shares
Net (loss) income per share:
Number of shares excluded from EPS	1,600,000

Cash and Cash Equivalents, Ma_3

Cash and Cash Equivalents, Marketable Securities and Restricted Cash (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 37,029,262	$ 11,684,817
Marketable securities	1,850,000	1,680,000
Restricted cash	500,000	500,000
Total cash, cash equivalents, marketable securities and restricted cash	$ 39,379,262	$ 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, 2018USD ($)Securities	Dec. 31, 2017USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Marketable securities at fair value	$ 1,850,000	$ 1,680,000
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	$ 1,900,000	$ 1,700,000
Maturity year	2038

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted cash		$ 37,529,262	$ 12,184,817	$ 21,871,122
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	[1]	37,029,262	11,684,817
Restricted cash	[1]	500,000	500,000
Marketable securities	[2]
Contingent earn-out	[3]
Total at fair value		37,529,262	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]	1,850,000	1,680,000
Contingent earn-out	[3]		951,867
Total at fair value		1,850,000	2,631,867
Total [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	[1]	37,029,262	11,684,817
Restricted cash	[1]	500,000	500,000
Marketable securities	[2]	1,850,000	1,680,000
Contingent earn-out	[3]		951,867
Total at fair value		$ 39,379,262	$ 14,816,684
[1]	Cash, cash equivalents and restricted cash, totaling approximately $37.5 million and $12.2 million as of December 31, 2018 and 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 $1.9 million and $1.7 million as of December 31, 2018 and 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 December 31, 2018, the Company determined that the fair value of its ARS investments equaled its cost basis. The Company used a discounted cash flow and market approach model to determine the approximated fair value of its investment in ARS. The assumptions used in preparing the discounted cash flow model include estimates for interest rate, timing and amount of cash flows and expected holding period of ARS.
[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 full during the second quarter of 2018.

Fair Value Measurements (Deta_2

Fair Value Measurements (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
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	$ 907,657
Accretion of net present value		44,210
Payment made May 2018	(951,867)
Balance at end of the period		951,867
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	1,550,000
Change in fair value of investment	170,000	130,000
Balance at end of the period	$ 1,850,000	$ 1,680,000

Fair Value Measurements (Deta_3

Fair Value Measurements (Details Narrative) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Debt and Equity Securities, FV-NI [Line Items]
Cash and cash equivalents and restricted cash	$ 37,500,000	$ 12,200,000
Marketable securities, fair value	1,850,000	1,680,000
Auction Rate Securities [Member]
Debt and Equity Securities, FV-NI [Line Items]
Marketable securities, fair value	$ 1,900,000	$ 1,700,000

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 7,729,242	$ 7,567,746
Less accumulated depreciation and amortization	6,240,110	5,475,077
Property and equipment, net	1,489,132	2,092,669
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,882,246	1,767,386
Furniture and Fixtures and Telephone Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,910,084	1,889,937
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,936,912	$ 3,910,423

Property and Equipment (Detai_2

Property and Equipment (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 139,000	$ 4,780,768	$ 5,132,259
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life		3 years
Computer Software [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life		3 years
Telephone Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life		3 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life		5 years

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Balance at beginning	$ 23,568,472	$ 23,332,091
Impairment of goodwill	(21,466,182)
Exchange rate impact	(85,873)	236,381
Balance at ending	$ 2,016,417	$ 23,568,472

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Details 1) - USD ($)	Oct. 01, 2018	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Balance at beginning		$ 23,568,472	$ 23,332,091
Impairment of goodwill		(21,466,182)
Exchange rate impact		(85,873)	236,381
Balance at ending		2,016,417	23,568,472
Business to Business [Member]
Goodwill [Roll Forward]
Balance at beginning		2,102,290	1,865,909
Impairment of goodwill
Exchange rate impact		(85,873)	236,381
Balance at ending		2,016,417	2,102,290
Business to Consumer [Member]
Goodwill [Roll Forward]
Balance at beginning		21,466,182	21,466,182
Impairment of goodwill	$ (21,500,000)	(21,466,182)
Exchange rate impact
Balance at ending			$ 21,466,182

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Details 2) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Indefinite-lived Intangible Assets [Line Items]
Total goodwill	$ 2,016,417	$ 23,568,472	$ 23,332,091
Intangible assets subject to amortization:
Total intangible assets subject to amortization	31,129,723	28,669,234
Less accumulated amortization	(18,668,307)	(15,702,665)
Net intangible assets	12,461,416	12,966,569
Customer Relationships [Member]
Intangible assets subject to amortization:
Total intangible assets subject to amortization	6,851,774	7,025,465
Software Models [Member]
Intangible assets subject to amortization:
Total intangible assets subject to amortization	1,018,194	1,018,194
Product Databases [Member]
Intangible assets subject to amortization:
Total intangible assets subject to amortization	9,878,657	9,453,096
Trade Names [Member]
Intangible assets subject to amortization:
Total intangible assets subject to amortization	726,798	741,470
Capitalized Website and Software Development [Member]
Intangible assets subject to amortization:
Total intangible assets subject to amortization	12,497,235	10,270,584
Domain Names [Member]
Intangible assets subject to amortization:
Total intangible assets subject to amortization	$ 157,065	$ 160,425

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Details 3)	Dec. 31, 2018USD ($)
For the Years Ended December 31
2019	$ 3,610,207
2020	3,204,512
2021	2,330,899
2022	1,573,295
2023	957,043
Thereafter	785,460
Total	$ 12,461,416

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets (Details Narrative)	Oct. 01, 2018USD ($)	Dec. 31, 2018USD ($)Segment	Dec. 31, 2017USD ($)
Finite-Lived Intangible Assets [Line Items]
Amortization expense		$ 3,800,000	$ 3,400,000
Number of segments | Segment		2
Impairment of goodwill		$ 21,466,182
Sale of RateWatch		5,851,050
Business to Consumer [Member]
Finite-Lived Intangible Assets [Line Items]
Impairment of goodwill	$ 21,500,000	21,466,182
Indefinite-lived Intangible Assets [Member] | Business to Consumer [Member]
Finite-Lived Intangible Assets [Line Items]
Impairment of goodwill	$ 15,100,000	$ 6,400,000
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life		9 years 8 months 12 days
Software Models [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life		5 years
Product Databases [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life		10 years
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life		8 years 7 months 6 days

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Payroll and related costs	$ 657,898	$ 2,010,745
Professional fees	1,111,582	449,394
Tax related	1,026,551	296,606
Business development	141,305	173,840
Data related	151,307	129,483
All other	873,577	630,269
Total accrued expenses	$ 3,962,220	$ 3,690,337

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Current taxes:
U.S. federal
State and local	(112)
Foreign	56	197
Total current tax expense (benefit)	(56)	197
Deferred taxes:
U.S. federal	(18,394)	(1,061)
State and local	(4,350)	217
Foreign	432	(1,975)
Total deferred tax expense (benefit)	(22,312)	(2,819)
Total tax (benefit) provision	$ (22,368)	$ (2,622)

Income Taxes (Details 1)

Income Taxes (Details 1)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
U.S. statutory federal income tax rate	21.00%	34.00%
State income taxes, net of federal tax benefit	2.70%	81.50%
Effect of permanent differences	(4.70%)	(2.10%)
Foreign tax rate differential	(1.70%)	(16.20%)
Change to valuation allowance	59.70%	909.40%
Change in federal rate		(1091.60%)
Foreign repatriation		(6.00%)
Stock compensation		230.60%
True-ups	(0.30%)	(26.20%)
Effective income tax rate	76.70%	113.40%

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Operating loss carryforward	$ 43,619	$ 50,535
Capital loss carryforward		432
Goodwill	4,104	1,919
Intangible assets	1,453	3,116
Accrued expenses	863	409
Depreciation	668	139
R&D	3
Other	386	820
Total deferred tax assets	51,096	57,370
Goodwill		(1,711)
Deferred Revenue	(341)
Intangible Assets	(246)	(568)
Total deferred tax liabilities	(587)	(2,279)
Less: valuation allowance	(32,458)	(54,122)
Net deferred tax asset	$ 18,051	$ 969

Income Taxes (Details 3)

Income Taxes (Details 3) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Beginning balance
Additions for tax positions acquired
Additions for tax positions related to current year	45
Additions due to interest accrued
Tax positions of prior years
Payments
Settlements
Due to lapsed SOL
Ending Balance	$ 45

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operating loss carryforwards	$ 150,000,000	$ 173,000,000
Operating loss carryforwards, windfall tax benefits	10,500,000
Foreign withholding tax	$ 155,000
Revised statutory federal income tax	21.00%	34.00%
Previously statutory federal income tax	35.00%
Valuation Allowance, Deferred Tax expense, Amount	$ 25,500,000
Valuation allowance adjustment	10,000
Accumulated earnings	(187,872,026)	$ (206,861,278)
Income tax expense	(22,367,402)	(2,622,361)
Valuation allowance	32,458	54,122
New York and New York City [Member]
Operating loss carryforwards	71,000,000	78,000,000
Additonal net operating loss	3,000,000	3,000,000
State and Local Jurisdiction [Member]
Operating loss carryforwards	11,700,000	16,800,000
The Deal / BoardEx [Member]
Valuation allowance	16,400,000	$ 820,000
Accounting Standards Update 74010 [Member]
Income tax expense	45,000
Non-U.S. subsidiary [Member]
Undistributed earnings of foreign subsidiaries	$ 900,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options granted	282,333	260,000
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	5,900,731
Options granted	282,333	260,000
Options exercised	(8,000)
Options forfeited	(182,752)	(41,368)
Options expired	(1,864,626)	(627,435)
Awards outstanding at ending	3,718,883	5,491,928
Awards vested and expected to vest at ending	3,713,646
Awards vested at ending	3,104,819
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Awards outstanding at beginning	$ 1.46	$ 1.52
Options granted	2.02	0.87
Options exercised	1.20
Options forfeited	2.15	1.15
Options expired	1.81	1.77
Awards outstanding at ending	1.29	$ 1.46
Awards vested and expected to vest at ending	1.29
Awards vested at ending	$ 1.30
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Aggregate Intrinsic Value [Roll Forward]
Awards outstanding at beginning	$ 874,000
Awards outstanding at ending	2,806,000	$ 874,000
Awards vested and expected to vest at ending	2,800,000
Awards vested at ending	$ 2,309,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Life [Roll Forward]
Awards outstanding at ending	4 years 1 month 13 days	3 years 4 months 20 days
Awards vested and expected to vest at ending	4 years 1 month 13 days
Awards vested at ending	3 years 11 months 12 days

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 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	(686,676)
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	717,995
Restricted stock units granted	3,149,720	598,000
Restricted stock units settled by delivery of Common Stock upon vesting	(686,676)	(818,282)
Restricted stock units forfeited	(64,722)	(50,833)
Awards outstanding at ending	2,844,990	446,668
Awards vested and expected to vest at ending	2,748,240
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Intrinsic Value [Roll Forward]
Awards outstanding at ending	$ 5,775,000	$ 648,000
Awards vested and expected to vest at ending	$ 5,579,000
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 2 months 26 days	7 months 13 days
Awards vested and expected to vest at ending	1 year 3 months 22 days

Stockholders' Equity (Details 2

Stockholders' Equity (Details 2) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 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	260,000
Shares underlying restricted stock units granted	3,149,720
Shares underlying options vested	(1,348,984)
Shares underlying restricted stock units settled by delivery of Common Stock upon vesting	(686,676)
Shares underlying unvested options forfeited	(3,752)
Shares underlying unvested restricted stock units forfeited	(64,722)
Shares underlying awards unvested at ending	3,459,054	2,131,135
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	$ 0.28
Shares underlying restricted stock units granted	1.68
Shares underlying options vested	0.35
Shares underlying restricted stock units settled by delivery of Common Stock upon vesting	1.14
Shares underlying unvested options forfeited	0.43
Shares underlying unvested restricted stock units forfeited	1.72
Shares underlying awards unvested at ending	$ 1.47	$ 0.48

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($)	Nov. 10, 2017	May 31, 2018	Dec. 31, 2000	Dec. 31, 2018	Dec. 31, 2017	Nov. 09, 2017
Number of shares issued, value					$ 7,849,999
Noncash share-based compensation				$ 2,475,024	$ 1,606,680
Number of stock option granted				282,333	260,000
Number of RSU granted				3,149,720
Intrinsic value of restricted stock units vested				$ 1,900,000	$ 1,600,000
Total intrinsic value of options exercised				8,000	0
Unrecognized stock-based compensation expense				$ 3,600,000
Restricted Stock Units (RSUs) [Member] | Equity Option [Member]
Stock-based compensation expense outsanding				6,600,000
2007 Performance Incentive Plan [Member]
Stock-based compensation expense outsanding				3,713,646
Number of shares authorized				7,750,000
Number of remaining shares available for future grants				6,600,000
Noncash share-based compensation				$ 2,500,000	$ 1,600,000
Number of stock option granted				282,333	260,000
Proceeds from the exercise of stock options				$ 8,000	$ 10,000
Unrecognized stock-based compensation expense				$ 3,600,000
2007 Performance Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Number of RSU granted				3,149,720	598,000
Number of RSU issued				678,000	818,000
Intrinsic value of restricted stock units vested				$ 1,300,000	$ 921,000
2007 Performance Incentive Plan [Member] | Maximum [Member]
Award vesting period				5 years
Options expiration period				7 years
2007 Performance Incentive Plan [Member] | Minimum [Member]
Award vesting period				3 years
Options expiration period				5 years
1998 Stock Incentive Plan [Member]
Number of shares issued		5,200,000
Number of shares authorized				8,900,000
Common Stock [Member]
Number of shares issued					7,136,363
Number of shares issued, value					$ 71,364
Treasury Stock [Member]
Number of treasury shares purchased				211,608
Treasury Stock [Member] | 2007 Performance Incentive Plan [Member]
Number of shares for withholding taxes				2,178,829
Share Repurchase Program [Member] | Common Stock [Member]
Amount of authorized shares repurchased			$ 10,000,000
Number of treasury shares purchased			5,453,416
Value of treasury shares purchased			$ 7,300,000
Share Repurchase Program [Member] | Treasury Stock [Member]
Number of treasury shares purchased				1,105
Value of treasury shares purchased				$ 1,415
Exchange Agreement [Member] | TCV Holders [Member] | Series B Preferred Stock [Member]
Number of shares issued	6,000,000
Number of shares issued, value	$ 5,520,000
Preferred stock, par value (in dollars per share)	$ 0.01
Portion of cash paid to retire the preferred stock	$ 20,000,000
Liquidation preference	55,000,000
Direct expenses related to the transaction	891,000
Extinguishment of debt amount	22,368,000
Difference between carrying value and fair value	$ 48,838,000
Purchase Agreement [Member] | 180 Degree Capital Management LLC [Member] | Common Stock [Member]
Number of shares issued	7,136,363
Share price (in dollars per share)	$ 1.10					$ 0.92

Commitments and Contingencies_2

Commitments and Contingencies (Details)	Dec. 31, 2018USD ($)
Contractual obligations:
2019	$ 5,119,712
2020	4,635,754
2021	2,854,767
2022	376,036
2023	377,676
After 2023	72,829
Total	13,436,774
Operating Leases [Member]
Contractual obligations:
2019	2,482,212
2020	2,135,754
2021	354,767
2022	376,036
2023	377,676
After 2023	72,829
Total	5,799,274
Employment Agreement [Member]
Contractual obligations:
2019	2,500,000
2020	2,500,000
2021	2,500,000
2022
2023
After 2023
Total	7,500,000
Outside Contributors [Member]
Contractual obligations:
2019	137,500
2020
2021
2022
2023
After 2023
Total	$ 137,500

Commitments and Contingencies_3

Commitments and Contingencies (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Lease expiration year	2026-01
Rent expense	$ 2,200,000	$ 2,000,000

Restructuring and Other Charg_2

Restructuring and Other Charges (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Restructuring and other charges		$ 438,645
Employee Severance [Member]
Restructuring and other charges		$ 439,000

Other Liabilities (Details)

Other Liabilities (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Other Liabilities Disclosure [Abstract]
Deferred revenue	$ 935,160	$ 629,309
Deferred rent	599,906	912,201
Other liabilities		2,092
Total other liabilities	$ 1,535,066	$ 1,543,602

Employee Benefit Plan (Details

Employee Benefit Plan (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Retirement Benefits [Abstract]
Percentage of employee's contribution	50.00%	50.00%
Percentage of employee's total compensation	6.00%	6.00%
Total contribution	$ 699,000	$ 692,000

Segment and Geographic Data (De

Segment and Geographic Data (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenue:
Total revenue	$ 53,089,452	$ 54,794,841
Operating loss:
Operating loss	(29,342,182)	(2,358,942)
Net interest income:
Net interest income	181,705	46,807
Benefit for income taxes:
Benefit for income taxes	(22,367,402)	(2,622,361)
Net (loss) income from continued operations:
Net (Loss) income from continued operations:	(6,793,075)	310,226
Business to Business [Member]
Revenue:
Total revenue	25,578,345	23,776,148
Operating loss:
Operating loss	(4,518,467)	(2,227,236)
Net interest income:
Net interest income	86,363	2,227
Benefit for income taxes:
Benefit for income taxes	18,104,273	1,778,429
Net (loss) income from continued operations:
Net (Loss) income from continued operations:	13,672,476	861,614
Business to Consumer [Member]
Revenue:
Total revenue	27,511,107	31,018,693
Operating loss:
Operating loss	(24,823,715)	(131,706)
Net interest income:
Net interest income	95,342	44,580
Benefit for income taxes:
Benefit for income taxes	4,263,129	843,932
Net (loss) income from continued operations:
Net (Loss) income from continued operations:	$ (20,465,551)	$ (551,388)

Segment and Geographic Data (_2

Segment and Geographic Data (Details Narrative)	12 Months Ended
	Dec. 31, 2018Segment
Segment Reporting [Abstract]
Number of segments	2