Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 07, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'TOWERSTREAM CORP | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 66,419,380 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001349437 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Current Assets | ' | ' |
Cash and cash equivalents | $32,793,977 | $15,152,226 |
Accounts receivable, net | 868,811 | 609,302 |
Prepaid expenses and other current assets | 1,043,730 | 943,420 |
Total Current Assets | 34,706,518 | 16,704,948 |
Property and equipment, net | 38,186,083 | 41,982,210 |
Intangible assets, net | 3,794,087 | 4,548,177 |
Goodwill | 1,674,281 | 1,674,281 |
Other assets | 1,888,116 | 2,200,098 |
Total Assets | 80,249,085 | 67,109,714 |
Current Liabilities | ' | ' |
Accounts payable | 721,578 | 1,163,442 |
Accrued expenses | 2,444,408 | 2,986,020 |
Deferred revenues | 1,379,580 | 1,457,464 |
Current maturities of capital lease obligations | 809,934 | 775,087 |
Other | 103,107 | 235,018 |
Total Current Liabilities | 5,458,607 | 6,617,031 |
Long-Term Liabilities | ' | ' |
Capital lease obligations, net of current maturities | 1,991,152 | 2,387,674 |
Other | 258,463 | 301,101 |
Total Long-Term Liabilities | 2,249,615 | 2,688,775 |
Total Liabilities | 7,708,222 | 9,305,806 |
Commitments (Note 14) | ' | ' |
Stockholders' Equity | ' | ' |
Preferred stock, par value $0.001; 5,000,000 shares authorized; none issued | 0 | 0 |
Common stock, par value $0.001; 95,000,000 shares authorized; 66,419,380 and 54,670,712 shares issued and outstanding, respectively | 66,420 | 54,671 |
Additional paid-in-capital | 153,844,182 | 121,118,127 |
Accumulated deficit | -81,369,739 | -63,368,890 |
Total Stockholders' Equity | 72,540,863 | 57,803,908 |
Total Liabilities and Stockholders' Equity | $80,249,085 | $67,109,714 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Preferred stock, par value (in Dollars per share) | $0.00 | $0.00 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 95,000,000 | 95,000,000 |
Common stock, shares issued | 66,419,380 | 54,670,712 |
Common stock, shares outstanding | 66,419,380 | 54,670,712 |
Condensed_Statements_of_Operat
Condensed Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Revenues | $8,400,664 | $8,127,507 | $24,912,061 | $24,049,887 |
Operating Expenses | ' | ' | ' | ' |
Cost of revenues (exclusive of depreciation) | 5,772,664 | 4,443,991 | 16,363,595 | 11,240,050 |
Depreciation and amortization | 3,846,644 | 3,399,442 | 11,653,557 | 10,028,804 |
Customer support services | 892,710 | 1,173,432 | 3,027,982 | 3,573,561 |
Sales and marketing | 1,368,628 | 1,561,972 | 4,333,288 | 4,598,300 |
General and administrative | 2,600,168 | 2,928,653 | 8,373,800 | 9,073,010 |
Total Operating Expenses | 14,480,814 | 13,507,490 | 43,752,222 | 38,513,725 |
Operating Loss | -6,080,150 | -5,379,983 | -18,840,161 | -14,463,838 |
Other Income/(Expense) | ' | ' | ' | ' |
Interest income | 125 | 10,206 | 401 | 41,395 |
Interest expense | -59,738 | -37,247 | -154,298 | -76,233 |
Gain on business acquisition | ' | ' | 1,004,099 | -40,079 |
Other income (expense), net | -3,630 | -1,210 | -10,890 | -8,270 |
Total Other Income/(Expense) | -63,243 | -28,251 | 839,312 | -83,187 |
Net Loss | ($6,143,393) | ($5,408,234) | ($18,000,849) | ($14,547,025) |
Net loss per common share – basic and diluted (in Dollars per share) | ($0.09) | ($0.10) | ($0.28) | ($0.27) |
Weighted average common shares outstanding – basic and diluted (in Shares) | 66,402,499 | 54,403,237 | 64,764,085 | 54,361,646 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statement of Stockholders' Equity (Unaudited) (USD $) | Cashless Exercise of Options [Member] | Cashless Exercise of Options [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Common Stock [Member] | Additional Paid-in Capital [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | ||||||
Balance at at Dec. 31, 2012 | ' | ' | ' | ' | ' | $54,671 | $121,118,127 | ($63,368,890) | $57,803,908 |
Balance at (in Shares) at Dec. 31, 2012 | ' | ' | ' | ' | ' | 54,670,712 | ' | ' | ' |
Exercise of options | 38 | -38 | 285 | 292,104 | 292,389 | ' | ' | ' | ' |
Exercise of options (in Shares) | 37,770 | ' | 284,688 | ' | ' | ' | ' | ' | 420,159 |
Issuance of common stock under employee stock purchase plan | ' | ' | ' | ' | ' | 26 | 65,356 | ' | 65,382 |
Issuance of common stock under employee stock purchase plan (in Shares) | ' | ' | ' | ' | ' | 26,086 | ' | ' | ' |
Issuance of common stock upon vesting of restricted stock awards | ' | ' | ' | ' | ' | 15 | -15 | ' | ' |
Issuance of common stock upon vesting of restricted stock awards (in Shares) | ' | ' | ' | ' | ' | 15,000 | ' | ' | ' |
Net proceeds from issuance of common stock | ' | ' | ' | ' | ' | 11,000 | 30,488,336 | ' | 30,499,336 |
Net proceeds from issuance of common stock (in Shares) | ' | ' | ' | ' | ' | 11,000,000 | ' | ' | ' |
Issuance of common stock for business acquisitions | ' | ' | ' | ' | ' | 385 | 950,871 | ' | 951,256 |
Issuance of common stock for business acquisitions (in Shares) | ' | ' | ' | ' | ' | 385,124 | ' | ' | ' |
Stock-based compensation for options | ' | ' | ' | ' | ' | ' | 885,116 | ' | 885,116 |
Stock-based compensation for restricted stock | ' | ' | ' | ' | ' | ' | 44,325 | ' | 44,325 |
Net loss | ' | ' | ' | ' | ' | ' | ' | -18,000,849 | -18,000,849 |
Balance at at Sep. 30, 2013 | ' | ' | ' | ' | ' | $66,420 | $153,844,182 | ($81,369,739) | $72,540,863 |
Balance at (in Shares) at Sep. 30, 2013 | ' | ' | ' | ' | ' | 66,419,380 | ' | ' | ' |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Cash Flows From Operating Activities | ' | ' |
Net loss | ($18,000,849) | ($14,547,025) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Provision for doubtful accounts | 70,000 | 219,082 |
Depreciation and amortization | 11,653,557 | 10,028,804 |
Stock-based compensation | 939,200 | 1,353,404 |
Gain on business acquisition | -1,004,099 | 40,079 |
Loss on sale and disposition of property and equipment | 81,824 | 72,072 |
Deferred rent | -86,820 | -75,267 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -250,270 | -230,195 |
Prepaid expenses and other current assets | -100,310 | -332,872 |
Other assets | 353,130 | -893,202 |
Accounts payable | -471,399 | -304,545 |
Accrued expenses | -1,411,797 | -30,674 |
Deferred revenues | -137,859 | -318,999 |
Total Adjustments | 9,635,157 | 9,527,687 |
Net Cash Used In Operating Activities | -8,365,692 | -5,019,338 |
Cash Flows From Investing Activities | ' | ' |
Acquisitions of property and equipment | -3,896,628 | -15,997,052 |
Acquisition of a business, net of cash acquired | -222,942 | ' |
Proceeds from sale of property and equipment | 14,779 | 12,850 |
Payments of security deposits | -39,154 | -292,209 |
Deferred acquisition payments | -124,460 | -221,633 |
Net Cash Used In Investing Activities | -4,268,405 | -16,498,044 |
Cash Flows From Financing Activities | ' | ' |
Payments on capital leases | -571,500 | -384,802 |
Issuance of common stock upon exercise of options | 292,389 | 312,853 |
Issuance of common stock under employee stock purchase plan | 55,623 | 84,251 |
Repurchase of options | ' | -34,986 |
Net proceeds from sale of common stock | 30,499,336 | ' |
Net Cash Provided By (Used In) Financing Activities | 30,275,848 | -22,684 |
Net Increase (Decrease) In Cash and Cash Equivalents | 17,641,751 | -21,540,066 |
Cash and Cash Equivalents b Beginning | 15,152,226 | 44,672,587 |
Cash and Cash Equivalents b Ending | 32,793,977 | 23,132,521 |
Cash paid during the periods for: | ' | ' |
Interest | 154,298 | 76,233 |
Taxes | 34,072 | 18,158 |
Non-cash investing and financing activities: | ' | ' |
Fair value of common stock issued (returned) in connection with an acquisition | 951,256 | -403,365 |
Acquisition of property and equipment: | ' | ' |
Under capital leases | 80,894 | 2,333,006 |
Included in accrued expenses | $780,254 | $1,590,798 |
Note_1_Organization_and_Nature
Note 1 - Organization and Nature of Business | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Nature of Operations [Text Block] | ' |
Note 1. Organization and Nature of Business | |
Towerstream Corporation (referred to as ““Towerstream’’ or the ““Company’’) was incorporated in Delaware in December 1999. During its first decade of operations, the Company's business activities were focused on delivering fixed wireless broadband services to commercial customers over a wireless network transmitting over both regulated and unregulated radio spectrum. The Company's fixed wireless service supports bandwidth on demand, wireless redundancy, virtual private networks, disaster recovery, bundled data and video services. The Company provides services to approximately 3,500 business customers in New York City, Boston, Chicago, Los Angeles, San Francisco, Seattle, Miami, Dallas-Fort Worth, Houston, Philadelphia, Nashville, Las Vegas-Reno and Providence-Newport. The Company's "fixed wireless business” has historically grown both organically and through the acquisition of five other fixed wireless broadband providers in various markets. | |
Since 2010, the Company has been exploring opportunities to leverage its fixed wireless network in urban markets to provide other wireless technology solutions and services. Over the past few years, a significant increase in mobile data generated by smartphones, tablets and other devices has placed tremendous demand on the networks of the carriers. This has caused the carriers to explore a wide range of solutions including (i) acquiring additional spectrum, (ii) employing Wi-Fi to offload data traffic and (iii) utilizing small cell technologies to increase capacity and coverage in dense urban areas. During this period, the Company incurred various costs related to identifying possible new solutions and services. These costs included rent payments under lease agreements which provide the Company with the right to install wireless technology equipment on the rooftops of buildings. The Company refers to these locations as "street level rooftops" because Wi-Fi and small cell technologies are required to be close to the ground, and therefore, the buildings are often one to two stories high. The Company also incurred costs to construct a carrier-class network to offload data traffic. The Company has entered into the lease agreements and commenced these capital projects for the purpose of securing capacity that it believes is needed to maintain its competitive position in the wireless industry. The Company believes that the wireless communications industry is experiencing a fundamental shift from its traditional, macro-cellular architecture to densified small cell architecture where existing cell sites will be supplemented by many smaller base stations operating near street level. The Company also believes that Wi-Fi will be an integral component of small cell architecture. | |
In January 2013, the Company incorporated a wholly-owned subsidiary, Hetnets Tower Corporation (“Hetnets”). Hetnets plans to utilize the carrier-class network constructed on the street level rooftops to generate rental income from four separate sources including (i) rental of space on street level rooftops for the installation of customer owned small cells which includes Wi-Fi antennae, DAS, and Metro and Pico cells, (ii) rental of a channel on Hetnets’ Wi-Fi network for internet access and the offloading of mobile data, (iii) rental of a port for backhaul or transport, and (iv) power and other related services. The Company refers to the activities of Hetnets as its “shared wireless infrastructure” (or “shared wireless”) business. | |
In June 2013, Hetnets entered into a Wi-Fi service agreement (the “Agreement”) with a major cable operator (the “Cable Operator”). The Agreement provides leased access to certain access points, primarily within New York City and Bergen County, New Jersey. The Cable Operator has a limited right to expand access in other Hetnets’ markets. The term of the Agreement is for an initial three year period, and provides for automatic renewals for two, one year periods. |
Note_2_Summary_of_Significant_
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||||||||||
Note 2. Summary of Significant Accounting Policies | |||||||||||||||||
Basis of Presentation. The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and with Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission. Accordingly, they do not contain all information and footnotes required by GAAP for annual financial statements. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of September 30, 2013 and the results of operations and cash flows for the periods presented. The results of operations for the nine months ended September 30, 2013 are not necessarily indicative of the operating results for the full fiscal year or for any future period. | |||||||||||||||||
These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. The Company’s accounting policies are described in the Notes to Consolidated Financial Statements in its Annual Report on Form 10-K for the year ended December 31, 2012, and updated, as necessary, in this Quarterly Report on Form 10-Q. | |||||||||||||||||
Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the amounts of revenues and expenses. Actual results could differ from those estimates. | |||||||||||||||||
Cash and Cash Equivalents. The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. | |||||||||||||||||
Concentration of Credit Risk. Financial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash and cash equivalents. At times, our cash and cash equivalents may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limits. As of September 30, 2013, the Company had cash and cash equivalent balances of approximately $24,777,000 in excess of the federally insured limit of $250,000. | |||||||||||||||||
The Company also had approximately $7,766,000 invested in three institutional money market funds. These funds are protected under the Securities Investor Protection Corporation, a nonprofit membership corporation which provides limited coverage up to $500,000. | |||||||||||||||||
Accounts Receivable. Accounts receivable are stated at cost less an allowance for doubtful accounts which reflects the Company’s estimate of balances that will be not collected. The allowance is based on the history of past write-offs, the aging of balances, collections experience and current credit conditions. Additions include provisions for doubtful accounts and deductions include customer write-offs. Changes in the allowance for doubtful accounts were as follows: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Beginning of period | $ | 162,678 | $ | 275,070 | $ | 190,109 | $ | 262,525 | |||||||||
Additions | 10,000 | 50,000 | 70,000 | 219,082 | |||||||||||||
Deductions | (39,552 | ) | (113,656 | ) | (126,983 | ) | (270,193 | ) | |||||||||
End of period | $ | 133,126 | $ | 211,414 | $ | 133,126 | $ | 211,414 | |||||||||
Business Acquisitions. Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the fair value of the consideration transferred on the acquisition date. When the Company acquires a business, it assesses the assets acquired and liabilities assumed for the appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions at the acquisition date. The excess of the total consideration transferred over the net amount of identifiable assets acquired and liabilities assumed is recognized as goodwill. If this consideration is lower than the net amount of the identifiable net assets acquired and liabilities assumed, the difference is recognized as a gain on business acquisition. Acquisition costs are expensed and included in general and administrative expenses in the statements of operations. | |||||||||||||||||
Revenue Recognition. The Company normally enters into contractual agreements with its customers for periods ranging between one to three years. The Company recognizes the total revenue provided under a contract ratably over the contract period, including any periods under which the Company has agreed to provide services at no cost. The Company recognizes revenue when (i) persuasive evidence of an arrangement exists, (ii) delivery or installation has been completed, (iii) the customer accepts and verifies receipt, and (iv) collectability is reasonably assured. | |||||||||||||||||
Deferred Revenues. Customers are billed monthly in advance. Deferred revenues are recognized for that portion of monthly charges not yet earned as of the end of the reporting period. Deferred revenues are also recognized for certain customers who pay for their services in advance. | |||||||||||||||||
Goodwill. Goodwill represents the excess of the total consideration transferred over the net amount of identifiable assets acquired and liabilities assumed in an acquisition. Goodwill is not amortized but rather is reviewed annually for impairment, or whenever events or circumstances indicate that the carrying value may not be recoverable. The Company initially performs a qualitative assessment of goodwill which considers macro-economic conditions, industry and market trends, and the current and projected financial performance of the reporting unit. No further analysis is required if it is determined that there is a less than 50 percent likelihood that the carrying value is greater than the fair value. | |||||||||||||||||
Reclassifications. Certain accounts in the prior year’s condensed consolidated financial statements have been reclassified for comparative purposes to conform to the presentation in the current year’s condensed consolidated financial statements. These reclassifications have no effect on the previously reported net loss. | |||||||||||||||||
Subsequent Events. Subsequent events have been evaluated through the date of this filing. |
Note_3_Business_Acquisitions
Note 3 - Business Acquisitions | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Business Combination Disclosure [Text Block] | ' | ||||||||
Note 3. Business Acquisitions | |||||||||
Delos Internet | |||||||||
In February 2013, the Company completed the acquisition of Delos Internet (“Delos”). The Company obtained full control of Delos in the acquisition. The Company has determined that the acquisition of Delos was a business combination to be accounted for under the acquisition method. The following table summarizes the consideration transferred and the amounts of identified assets acquired and liabilities assumed at the acquisition date: | |||||||||
Fair value of consideration transferred: | |||||||||
Cash | $ | 225,000 | |||||||
Common stock (385,124 shares) | 951,256 | ||||||||
Capital lease obligations assumed | 128,929 | ||||||||
Other liabilities assumed | 36,733 | ||||||||
Total consideration transferred | 1,341,918 | ||||||||
Fair value of identifiable assets acquired and liabilities assumed: | |||||||||
Cash | 2,058 | ||||||||
Accounts receivable | 79,238 | ||||||||
Property and equipment | 807,700 | ||||||||
Security deposits | 1,993 | ||||||||
Accounts payable | (29,536 | ) | |||||||
Deferred revenue | (59,975 | ) | |||||||
Other liabilities | (89,930 | ) | |||||||
Total identifiable net tangible assets | 711,548 | ||||||||
Customer relationships | 1,634,469 | ||||||||
Total identifiable net assets | 2,346,017 | ||||||||
Gain on business acquisition | $ | 1,004,099 | |||||||
The Company recognized a gain on business acquisition of $1,004,099 which is included in other income (expense) in the Company’s condensed consolidated statements of operations for the nine months ended September 30, 2013. The challenging economic environment during 2012 made it difficult for smaller companies like Delos to raise sufficient capital to sustain their growth. As a result, the Company was able to acquire the customer relationships and wireless network of Delos at a discounted price. | |||||||||
In May 2013, the Company finalized the purchase price of Delos. The final purchase price of $1,341,918 was $83,183, or 6%, lower than the initially reported purchase price of $1,425,101. The finalization of the purchase price resulted in a reduction of approximately $21,000 of identifiable net assets and an increase in the gain on business acquisition of approximately $63,000. The purchase price adjustment resulted in a decrease in the number of shares of common stock issued to Delos of 48,549 from 433,673 to 385,124 shares. | |||||||||
Pro Forma Information | |||||||||
The following table reflects the unaudited pro forma consolidated results of operations had the acquisition of Delos taken place at the beginning of the 2013 and 2012 periods: | |||||||||
Three Months Ended | |||||||||
30-Sep-12 | |||||||||
Revenues | $ | 8,296,362 | |||||||
Amortization expense | 817,979 | ||||||||
Total operating expenses | 13,765,459 | ||||||||
Net loss | (5,497,348 | ) | |||||||
Basic net loss per share | $ | (0.10 | ) | ||||||
Nine Months Ended September 30, | |||||||||
2013 | 2012 | ||||||||
Revenues | $ | 25,024,631 | $ | 24,556,452 | |||||
Amortization expense | 2,453,937 | 2,946,061 | |||||||
Total operating expenses | 43,924,201 | 39,287,631 | |||||||
Net loss | (18,060,258 | ) | (14,814,366 | ) | |||||
Basic net loss per share | $ | (0.28 | ) | $ | (0.27 | ) | |||
The pro forma information presented above does not purport to present what actual results would have been had the acquisition actually occurred at the beginning of 2013 and 2012 and are not necessarily indicative of the operating results for any future period. |
Note_4_Property_and_Equipment
Note 4 - Property and Equipment | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
Note 4. Property and Equipment | |||||||||
Property and equipment is comprised of: | |||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Network and base station equipment | $ | 31,994,152 | $ | 28,983,284 | |||||
Customer premise equipment | 23,427,912 | 23,036,057 | |||||||
Shared wireless infrastructure | 17,889,725 | 17,232,566 | |||||||
Information technology | 4,208,769 | 3,863,212 | |||||||
Furniture, fixtures and other | 1,607,038 | 1,598,979 | |||||||
Leasehold improvements | 789,392 | 789,392 | |||||||
79,916,988 | 75,503,490 | ||||||||
Less: accumulated depreciation | 41,730,905 | 33,521,280 | |||||||
Property and equipment, net | $ | 38,186,083 | $ | 41,982,210 | |||||
Depreciation expense for the three months ended September 30, 2013 and 2012 was $3,028,665 and $2,679,531, respectively. Depreciation expense for the nine months ended September 30, 2013 and 2012 was $9,264,999 and $7,376,947, respectively. The Company sold or disposed of property and equipment with $1,151,978 of original cost and $1,055,375 of accumulated depreciation during the nine months ended September 30, 2013 which resulted in $14,779 received in proceeds and $81,824 recognized as loss on disposals. The Company sold or disposed of property and equipment with $356,915 of original cost and $271,993 of accumulated depreciation during the nine months ended September 30, 2012 which resulted in $12,850 received in proceeds and $72,072 recognized as loss on disposals. Loss on disposals is included in general and administrative expenses in the Company’s condensed consolidated statements of operations. | |||||||||
Property acquired through capital leases included within the Company’s property and equipment consists of the following: | |||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Network and base station equipment | $ | 828,027 | $ | 736,612 | |||||
Customer premise equipment | 96,843 | 59,330 | |||||||
Shared wireless infrastructure | 1,216,142 | 1,216,142 | |||||||
Information technology | 1,860,028 | 1,779,135 | |||||||
4,001,040 | 3,791,219 | ||||||||
Less: accumulated depreciation | 1,133,614 | 541,800 | |||||||
Property acquired through capital leases, net | $ | 2,867,426 | $ | 3,249,419 | |||||
Note_5_Intangible_Assets
Note 5 - Intangible Assets | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Intangible Assets Disclosure [Text Block] | ' | ||||||||
Note 5. Intangible Assets | |||||||||
Intangible assets consist of the following: | |||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Goodwill | $ | 1,674,281 | $ | 1,674,281 | |||||
Customer relationships | $ | 11,856,126 | $ | 10,221,659 | |||||
Less: accumulated amortization of customer relationships | 9,346,594 | 6,958,037 | |||||||
Customer relationships, net | 2,509,532 | 3,263,622 | |||||||
FCC licenses | 1,284,555 | 1,284,555 | |||||||
Intangible assets, net | $ | 3,794,087 | $ | 4,548,177 | |||||
Amortization expense for the three months ended September 30, 2013 and 2012 was $817,979 and $719,911, respectively. Amortization expense for the nine months ended September 30, 2013 and 2012 was $2,388,558 and $2,651,857, respectively. The customer contracts acquired in the Company’s acquisition of Delos are being amortized over a 50 month period ending April 2017. As of September 30, 2013, the remaining amortization period for all acquisitions with customer relationship balances ranged from 2 to 43 months. Future amortization expense is expected to be as follows: | |||||||||
Remainder of 2013 | $ | 705,260 | |||||||
2014 | 888,969 | ||||||||
2015 | 392,272 | ||||||||
2016 | 392,272 | ||||||||
2017 | 130,759 | ||||||||
$ | 2,509,532 | ||||||||
The Company’s licenses with the Federal Communications Commission (the “FCC”) are not subject to amortization as they have an indefinite useful life. |
Note_6_Accrued_Expenses
Note 6 - Accrued Expenses | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Accrued Liabilities Disclosure [Abstract] | ' | ||||||||
Accrued Liabilities Disclosure [Text Block] | ' | ||||||||
Note 6. Accrued Expenses | |||||||||
Accrued expenses consist of the following: | |||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Property and equipment | $ | 780,254 | $ | 1,240,774 | |||||
Payroll and related | 804,164 | 859,130 | |||||||
Professional services | 397,814 | 314,270 | |||||||
Network | 185,720 | 288,060 | |||||||
Other | 276,456 | 283,786 | |||||||
Total | $ | 2,444,408 | $ | 2,986,020 | |||||
Network expenses consist of costs incurred to provide services to our customers and includes tower rentals, bandwidth, troubleshooting and gear removal. |
Note_7_Other_Liabilities
Note 7 - Other Liabilities | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] | ' | ||||||||
Other Liabilities Disclosure [Text Block] | ' | ||||||||
Note 7. Other Liabilities | |||||||||
Other liabilities consist of the following: | |||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Current | |||||||||
Deferred rent | $ | - | $ | 86,820 | |||||
Deferred acquisition payments | 103,107 | 148,198 | |||||||
Total | $ | 103,107 | $ | 235,018 | |||||
Long-Term | |||||||||
Deferred acquisition payments | $ | 14,189 | $ | 56,827 | |||||
Deferred taxes | 244,274 | 244,274 | |||||||
Total | $ | 258,463 | $ | 301,101 | |||||
Gross deferred acquisition payments related to the acquisition of Pipeline Wireless LLC (“Pipeline”) in December 2010 totaled $133,043 and are payable in monthly installments of $16,630 through May 2014. The carrying value of these non-interest bearing payments were discounted at 12% and totaled $92,181 at September 30, 2013. Deferred acquisition payments related to Delos totaled $25,115 at September 30, 2013 and bear interest at rates ranging from 7% to 12.5%. |
Note_8_Capital_Stock
Note 8 - Capital Stock | 9 Months Ended |
Sep. 30, 2013 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Equity Note Disclosure [Text Block] | ' |
Note 8. Capital Stock | |
In February 2013, the Company completed an underwritten offering which raised gross proceeds of $30,000,000 in connection with the sale of 10,000,000 shares at $3.00 per share. In March 2013, the Company raised additional gross proceeds of $3,000,000 in connection with the sale of 1,000,000 shares at $3.00 per share related to the exercise of the over-allotment option by the underwriters. The Company incurred costs of approximately $2,501,000 related to the underwritten offering. |
Note_9_StockBased_Compensation
Note 9 - Stock-Based Compensation | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||||
Note 9. Stock-Based Compensation | |||||||||||||||||||
The Company uses the Black-Scholes option pricing model to value options granted to employees, directors and consultants. Compensation expense, including the effect of forfeitures, is recognized over the period of service, generally the vesting period. Stock-based compensation totaled $253,813 and $403,765 for the three months ended September 30, 2013 and 2012, respectively. Stock-based compensation totaled $885,116 and $1,249,925 for the nine months ended September 30, 2013 and 2012, respectively. Stock-based compensation is included in general and administrative expenses in the accompanying condensed consolidated statements of operations. | |||||||||||||||||||
The unamortized amount of stock options expense totaled $2,044,445 as of September 30, 2013 which will be recognized over a weighted-average period of 2.4 years. | |||||||||||||||||||
The fair values of stock option grants were calculated on the dates of grant using the Black-Scholes option pricing model and the following weighted average assumptions: | |||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Risk-free interest rate | 1.9 | % | - | 0.8% | - | 1.90% | 0.6% | - | 1.00% | ||||||||||
Expected volatility | 68 | % | - | 65% | - | 68% | 65% | - | 74% | ||||||||||
Expected life (in years) | 6 | - | 5 | - | 6.5 | 5 | - | 5.3 | |||||||||||
Expected dividend yield | - | - | - | - | |||||||||||||||
Weighted average per share grant date fair value | $ | 1.42 | - | $ | 1.44 | $ | 2.16 | ||||||||||||
The risk-free interest rate was based on rates established by the Federal Reserve. The Company’s expected volatility was based upon the historical volatility for its common stock. The expected life of the Company’s options was determined using the simplified method as a result of limited historical data regarding the Company’s activity. The dividend yield is based upon the fact that the Company has not historically paid dividends, and does not expect to pay dividends in the foreseeable future. | |||||||||||||||||||
During the first quarter of 2011, the Company issued 90,000 shares of restricted stock to two executives. The fair value of $354,600 was based on the closing market price of the Company’s common stock on the date of grant. The restricted stock vests over a three year period, of which 45,000 shares were vested as of September 30, 2013. 30,000 shares were forfeited in the fourth quarter of 2012 in connection with an executive’s cessation of employment. Stock-based compensation for restricted stock totaled $14,775 and $29,550 for the three months ended September 30, 2013 and 2012, respectively. Stock-based compensation for restricted stock totaled $44,325 and $88,650 for the nine months ended September 30, 2013 and 2012, respectively. Unrecognized compensation cost of $14,775 at September 30, 2013 will be recognized ratably through December 2013. As of September 30, 2013, 15,000 shares of restricted stock remain unvested. | |||||||||||||||||||
Option transactions under the stock option plans during the nine months ended September 30, 2013 were as follows: | |||||||||||||||||||
Number | Weighted Average | ||||||||||||||||||
Exercise Price | |||||||||||||||||||
Outstanding as of December 31, 2012 | 3,916,045 | $ | 2.85 | ||||||||||||||||
Granted during 2013 | 950,000 | $ | 2.4 | ||||||||||||||||
Exercised | (420,159 | ) | $ | 1.23 | |||||||||||||||
Forfeited /expired | (390,870 | ) | $ | 5.07 | |||||||||||||||
Outstanding as of September 30, 2013 | 4,055,016 | $ | 2.7 | ||||||||||||||||
Exercisable as of September 30, 2013 | 2,676,434 | $ | 2.36 | ||||||||||||||||
In February 2013, the Company granted 75,000 options to its two executive officers in recognition of the completion of an underwritten offering and the formation of Hetnets. These options were granted at an exercise price of $2.62 and vested immediately. In June 2013, the Company made its annual grant to the Board of Directors consisting of 200,000 options with an exercise price of $2.56 vesting monthly through May 2014. In June 2013, the Company granted 50,000 options to an executive officer with an exercise price of $2.56 which vests annually over a five year period. In August 2013, the Company granted 625,000 options to certain employees with an exercise price of $2.31 vesting annually over a three year period. | |||||||||||||||||||
A total of 30,508 and 135,471 options were exercised on a cashless basis during the three and nine months ended September 30, 2013 resulting in the net issuance of 10,016 and 37,770 shares, respectively. Under a cashless exercise, the holder uses a portion of the shares that would otherwise be issuable upon exercise, rather than cash, as consideration for the exercise. The amount of net shares issuable in connection with a cashless exercise will vary based on the exercise price of the option compared to the current market price of the Company’s common stock on the date of exercise. | |||||||||||||||||||
A total of 41,665 and 284,688 options were exercised on a cash basis during the three and nine months ended September 30, 2013, which resulted in proceeds to the Company of $39,199 and $292,389, respectively. | |||||||||||||||||||
Cancellations of options for the three and nine months ended September 30, 2013 were 6,566 and 390,870, respectively, and related to employee terminations. | |||||||||||||||||||
The weighted average remaining contractual life of the outstanding options as of September 30, 2013 was 6.3 years. | |||||||||||||||||||
The intrinsic value of outstanding and exercisable options totaled $3,047,325 and $2,595,864, respectively, as of September 30, 2013. The intrinsic value is calculated as the difference between the closing price of the Company’s common stock as of September 30, 2013, which was $2.85 per share, and the exercise price of the options. |
Note_10_Stock_Warrants
Note 10 - Stock Warrants | 9 Months Ended |
Sep. 30, 2013 | |
Stock Warrants [Abstract] | ' |
Stock Warrants [Text Block] | ' |
Note 10. Stock Warrants | |
The 450,000 warrants outstanding at September 30, 2013 and December 31, 2012 have an exercise price of $5.00 and expire in July 2016. | |
There was no intrinsic value associated with the outstanding and exercisable warrants as of September 30, 2013. The intrinsic value is calculated as the difference between the closing price of the Company’s common stock as of September 30, 2013, which was $2.85 per share, and the exercise price of the warrants. | |
The number of shares issuable upon the exercise of a warrant will be lower if a holder exercises on a cashless basis. Under a cashless exercise, the holder uses a portion of the shares that would otherwise be issuable upon exercise, rather than cash, as consideration for the exercise. The amount of net shares issuable in connection with a cashless exercise will vary based on the exercise price of the warrant compared to the current market price of the Company’s common stock on the date of exercise. |
Note_11_Employee_Stock_Purchas
Note 11 - Employee Stock Purchase Plan | 9 Months Ended |
Sep. 30, 2013 | |
Employee Stock Purchase Plan Disclosure [Abstract] | ' |
Employee Stock Purchase Plan Disclosure [Text Block] | ' |
Note 11. Employee Stock Purchase Plan | |
Under the Company’s 2010 Employee Stock Purchase Plan (“ESPP Plan”), participants can purchase shares of the Company’s stock at a 15% discount. A maximum of 200,000 shares of common stock can be issued under the ESPP Plan, of which 81,441 shares have been issued to date and 118,559 shares are available for future issuance. During the three and nine months ended September 30, 2013, a total of 7,526 and 26,086 shares were issued under the ESPP Plan with a fair value of $21,449 and $65,382, respectively. The Company recognized $3,236 and $9,759 of stock-based compensation related to the 15% discount for the three and nine months ended September 30, 2013, respectively. The Company recognized $4,252 and $14,829 of stock-based compensation related to the 15% discount for the three and nine months ended September 30, 2012, respectively. |
Note_12_Fair_Value_Measurement
Note 12 - Fair Value Measurement | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
Note 12. Fair Value Measurement | |||||||||||||||||
Valuation Hierarchy | |||||||||||||||||
The accounting standard of the Financial Accounting Standards Board for fair value measurements establishes a valuation hierarchy for disclosure of the inputs used to measure fair value. This hierarchy prioritizes the inputs into three broad levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the Company’s own assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. | |||||||||||||||||
Cash and cash equivalents are measured at fair value using quoted market prices and are classified within Level 1 of the valuation hierarchy. The carrying amounts of accounts receivable, accounts payable and accrued liabilities approximate their fair value due to their short maturities. There were no changes in the valuation techniques during the nine months ended September 30, 2013. | |||||||||||||||||
Total | Quoted prices in | Significant other | Significant | ||||||||||||||
Carrying Value | active markets | observable inputs | unobservable inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
30-Sep-13 | $ | 32,793,977 | $ | 32,793,977 | $ | - | $ | - | |||||||||
31-Dec-12 | $ | 15,152,226 | $ | 15,152,226 | $ | - | $ | - | |||||||||
Note_13_Net_Loss_Per_Common_Sh
Note 13 - Net Loss Per Common Share | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Earnings Per Share [Abstract] | ' | ||||
Earnings Per Share [Text Block] | ' | ||||
Note 13. Net Loss Per Common Share | |||||
Basic and diluted net loss per share has been calculated by dividing net loss by the weighted average number of common shares outstanding during the period. All potentially dilutive common shares have been excluded since their inclusion would be anti-dilutive. | |||||
The following common stock equivalents were excluded from the computation of diluted net loss per common share because they were anti-dilutive. The exercise or issuance of these common stock equivalents outstanding at September 30, 2013 would dilute earnings per share if the Company becomes profitable in the future. The exercise of the outstanding stock options and warrants could potentially generate proceeds up to approximately $13,197,000 if exercised by the holder for cash. | |||||
Stock options | 4,055,016 | ||||
Restricted stock | 15,000 | ||||
Warrants | 450,000 | ||||
Total | 4,520,016 | ||||
Note_14_Commitments
Note 14 - Commitments | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||
Commitments Disclosure [Text Block] | ' | ||||||||||||||||
Note 14. Commitments | |||||||||||||||||
Operating Lease Obligations | |||||||||||||||||
The Company has entered into operating leases related to roof rights, cellular towers, office space, and equipment leases under various non-cancelable agreements expiring through December 2020. Certain of these operating leases include extensions, at the Company's option, for additional terms ranging from 1 to 25 years. Amounts associated with the extension periods have not been included in the table below as it is not presently determinable which options, if any, the Company will elect to exercise. As of September 30, 2013, total future operating lease obligations were as follows: | |||||||||||||||||
Remainder of 2013 | $ | 4,763,777 | |||||||||||||||
2014 | 16,280,282 | ||||||||||||||||
2015 | 15,376,341 | ||||||||||||||||
2016 | 13,949,461 | ||||||||||||||||
2017 | 8,406,490 | ||||||||||||||||
Thereafter | 1,758,256 | ||||||||||||||||
$ | 60,534,607 | ||||||||||||||||
Rent expenses were as follows: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Points of Presence | $ | 1,767,441 | $ | 1,418,061 | $ | 5,108,347 | $ | 4,122,836 | |||||||||
Street level rooftops | 2,707,304 | 1,609,252 | 7,757,206 | 3,209,569 | |||||||||||||
Corporate offices | 121,518 | 126,619 | 366,794 | 365,856 | |||||||||||||
Other | 102,039 | 91,582 | 327,268 | 285,801 | |||||||||||||
$ | 4,698,302 | $ | 3,245,514 | $ | 13,559,615 | $ | 7,984,062 | ||||||||||
Rent expenses related to Points of Presence, street level rooftops and other were included in cost of revenues in the Company’s condensed consolidated statements of operations. Rent expense related to our corporate offices was included in general and administrative expenses in the Company’s condensed consolidated statements of operations. | |||||||||||||||||
Capital Lease Obligations | |||||||||||||||||
The Company has entered into capital leases to acquire property and equipment expiring through March 2018. As of September 30, 2013, total future capital lease obligations were as follows: | |||||||||||||||||
Remainder of 2013 | $ | 262,903 | |||||||||||||||
2014 | 997,824 | ||||||||||||||||
2015 | 908,344 | ||||||||||||||||
2016 | 655,754 | ||||||||||||||||
2017 | 391,305 | ||||||||||||||||
Thereafter | 53,923 | ||||||||||||||||
$ | 3,270,053 | ||||||||||||||||
Less: Interest expense | (468,967 | ) | |||||||||||||||
Total capital lease obligations | $ | 2,801,086 | |||||||||||||||
Current | $ | 809,934 | |||||||||||||||
Long-term | $ | 1,991,152 | |||||||||||||||
Other | |||||||||||||||||
During the first quarter of 2013, the Company renewed a one year information technology infrastructure support agreement. The agreement became effective at the end of the first quarter of 2013. Payments of approximately $128,000 are due quarterly through the fourth quarter of 2013. |
Note_15_Segment_Information
Note 15 - Segment Information | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||||||
Note 15. Segment Information | |||||||||||||||||||||
The Company has two reportable segments: Fixed Wireless and Shared Wireless Infrastructure. Management evaluates performance and allocates resources based on the operating performance of each segment as well as the long-term growth potential for each segment. Costs reported for each segment include costs directly associated with a segment’s operations. Intersegment revenues and expenses are eliminated in consolidation. | |||||||||||||||||||||
The balance of the Company’s operations is in the Corporate group which includes centralized operations. This group includes operations related to corporate overhead and centralized activities which support our overall operations. Corporate overhead includes administrative personnel, including executive management, and other support functions such as information technology and facilities. Centralized operations includes network operations, customer care, and the management of network assets. The Corporate group is treated as a separate segment consistent with how management monitors and analyzes financial results. Corporate costs are not allocated to the segments because such costs are managed and controlled on a functional basis that encompasses all markets, with centralized, functional management held accountable for corporate results. Management also believes that not allocating these centralized costs provides a better reflection of the direct operating performance of each segment. The table below presents information about our operating segments: | |||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
Fixed | Shared Wireless Infrastructure | Corporate | Eliminations | Total | |||||||||||||||||
Wireless | |||||||||||||||||||||
Revenues | $ | 7,910,377 | $ | 535,936 | $ | - | $ | (45,649 | ) | $ | 8,400,664 | ||||||||||
Operating Expenses | |||||||||||||||||||||
Cost of revenues (exclusive of depreciation) | 2,640,529 | 3,110,640 | 67,144 | (45,649 | ) | 5,772,664 | |||||||||||||||
Depreciation and amortization | 2,754,675 | 857,739 | 234,230 | - | 3,846,644 | ||||||||||||||||
Customer support services | 208,955 | 54,765 | 628,990 | - | 892,710 | ||||||||||||||||
Sales and marketing | 1,206,125 | 80,956 | 81,547 | - | 1,368,628 | ||||||||||||||||
General and administrative | 126,256 | 151,561 | 2,322,351 | - | 2,600,168 | ||||||||||||||||
Total Operating Expenses | 6,936,540 | 4,255,661 | 3,334,262 | (45,649 | ) | 14,480,814 | |||||||||||||||
Operating Income (Loss) | $ | 973,837 | $ | (3,719,725 | ) | $ | (3,334,262 | ) | $ | - | $ | (6,080,150 | ) | ||||||||
Capital expenditures | $ | 1,242,975 | $ | 680,324 | $ | 200,347 | $ | - | $ | 2,123,646 | |||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
Fixed | Shared Wireless Infrastructure | Corporate | Eliminations | Total | |||||||||||||||||
Wireless | |||||||||||||||||||||
Revenues | $ | 24,158,268 | $ | 890,920 | $ | - | $ | (137,127 | ) | $ | 24,912,061 | ||||||||||
Operating Expenses | |||||||||||||||||||||
Cost of revenues (exclusive of depreciation) | 7,563,846 | 8,777,611 | 159,265 | (137,127 | ) | 16,363,595 | |||||||||||||||
Depreciation and amortization | 8,411,263 | 2,633,176 | 609,118 | - | 11,653,557 | ||||||||||||||||
Customer support services | 565,972 | 214,703 | 2,247,307 | - | 3,027,982 | ||||||||||||||||
Sales and marketing | 3,825,299 | 239,213 | 268,776 | - | 4,333,288 | ||||||||||||||||
General and administrative | 443,863 | 486,495 | 7,443,442 | - | 8,373,800 | ||||||||||||||||
Total Operating Expenses | 20,810,243 | 12,351,198 | 10,727,908 | (137,127 | ) | 43,752,222 | |||||||||||||||
Operating Income (Loss) | $ | 3,348,025 | $ | (11,460,278 | ) | $ | (10,727,908 | ) | $ | - | $ | (18,840,161 | ) | ||||||||
Capital expenditures | $ | 3,358,758 | $ | 1,049,344 | $ | 349,674 | $ | - | $ | 4,757,776 | |||||||||||
As of September 30, 2013 | |||||||||||||||||||||
Property and equipment, net | $ | 23,870,843 | $ | 12,439,779 | $ | 1,875,461 | $ | - | $ | 38,186,083 | |||||||||||
Total assets | $ | 30,590,803 | $ | 14,881,500 | $ | 34,776,782 | $ | - | $ | 80,249,085 | |||||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Business Description and Basis of Presentation [Text Block] | ' |
Basis of Presentation. The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and with Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission. Accordingly, they do not contain all information and footnotes required by GAAP for annual financial statements. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of September 30, 2013 and the results of operations and cash flows for the periods presented. The results of operations for the nine months ended September 30, 2013 are not necessarily indicative of the operating results for the full fiscal year or for any future period. | |
These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. The Company’s accounting policies are described in the Notes to Consolidated Financial Statements in its Annual Report on Form 10-K for the year ended December 31, 2012, and updated, as necessary, in this Quarterly Report on Form 10-Q. | |
Use of Estimates, Policy [Policy Text Block] | ' |
Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the amounts of revenues and expenses. Actual results could differ from those estimates. | |
Cash and Cash Equivalents, Policy [Policy Text Block] | ' |
Cash and Cash Equivalents. The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. | |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' |
Concentration of Credit Risk. Financial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash and cash equivalents. At times, our cash and cash equivalents may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limits. As of September 30, 2013, the Company had cash and cash equivalent balances of approximately $24,777,000 in excess of the federally insured limit of $250,000. | |
The Company also had approximately $7,766,000 invested in three institutional money market funds. These funds are protected under the Securities Investor Protection Corporation, a nonprofit membership corporation which provides limited coverage up to $500,000. | |
Receivables, Policy [Policy Text Block] | ' |
Accounts Receivable. Accounts receivable are stated at cost less an allowance for doubtful accounts which reflects the Company’s estimate of balances that will be not collected. The allowance is based on the history of past write-offs, the aging of balances, collections experience and current credit conditions. Additions include provisions for doubtful accounts and deductions include customer write-offs | |
Business Combinations Policy [Policy Text Block] | ' |
Business Acquisitions. Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the fair value of the consideration transferred on the acquisition date. When the Company acquires a business, it assesses the assets acquired and liabilities assumed for the appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions at the acquisition date. The excess of the total consideration transferred over the net amount of identifiable assets acquired and liabilities assumed is recognized as goodwill. If this consideration is lower than the net amount of the identifiable net assets acquired and liabilities assumed, the difference is recognized as a gain on business acquisition. Acquisition costs are expensed and included in general and administrative expenses in the statements of operations. | |
Revenue Recognition, Policy [Policy Text Block] | ' |
Revenue Recognition. The Company normally enters into contractual agreements with its customers for periods ranging between one to three years. The Company recognizes the total revenue provided under a contract ratably over the contract period, including any periods under which the Company has agreed to provide services at no cost. The Company recognizes revenue when (i) persuasive evidence of an arrangement exists, (ii) delivery or installation has been completed, (iii) the customer accepts and verifies receipt, and (iv) collectability is reasonably assured. | |
Revenue Recognition, Deferred Revenue [Policy Text Block] | ' |
Deferred Revenues. Customers are billed monthly in advance. Deferred revenues are recognized for that portion of monthly charges not yet earned as of the end of the reporting period. Deferred revenues are also recognized for certain customers who pay for their services in advance. | |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | ' |
Goodwill. Goodwill represents the excess of the total consideration transferred over the net amount of identifiable assets acquired and liabilities assumed in an acquisition. Goodwill is not amortized but rather is reviewed annually for impairment, or whenever events or circumstances indicate that the carrying value may not be recoverable. The Company initially performs a qualitative assessment of goodwill which considers macro-economic conditions, industry and market trends, and the current and projected financial performance of the reporting unit. No further analysis is required if it is determined that there is a less than 50 percent likelihood that the carrying value is greater than the fair value. | |
Reclassification, Policy [Policy Text Block] | ' |
Reclassifications. Certain accounts in the prior year’s condensed consolidated financial statements have been reclassified for comparative purposes to conform to the presentation in the current year’s condensed consolidated financial statements. These reclassifications have no effect on the previously reported net loss. | |
Subsequent Events, Policy [Policy Text Block] | ' |
Subsequent Events. Subsequent events have been evaluated through the date of this filing. |
Note_2_Summary_of_Significant_1
Note 2 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||
Schedule of Allowance for Doubtful Accounts Receivable [Table Text Block] | ' | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Beginning of period | $ | 162,678 | $ | 275,070 | $ | 190,109 | $ | 262,525 | |||||||||
Additions | 10,000 | 50,000 | 70,000 | 219,082 | |||||||||||||
Deductions | (39,552 | ) | (113,656 | ) | (126,983 | ) | (270,193 | ) | |||||||||
End of period | $ | 133,126 | $ | 211,414 | $ | 133,126 | $ | 211,414 |
Note_3_Business_Acquisitions_T
Note 3 - Business Acquisitions (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Note 3 - Business Acquisitions (Tables) [Line Items] | ' | ||||||||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | ||||||||
Three Months Ended | |||||||||
30-Sep-12 | |||||||||
Revenues | $ | 8,296,362 | |||||||
Amortization expense | 817,979 | ||||||||
Total operating expenses | 13,765,459 | ||||||||
Net loss | (5,497,348 | ) | |||||||
Basic net loss per share | $ | (0.10 | ) | ||||||
Nine Months Ended September 30, | |||||||||
2013 | 2012 | ||||||||
Revenues | $ | 25,024,631 | $ | 24,556,452 | |||||
Amortization expense | 2,453,937 | 2,946,061 | |||||||
Total operating expenses | 43,924,201 | 39,287,631 | |||||||
Net loss | (18,060,258 | ) | (14,814,366 | ) | |||||
Basic net loss per share | $ | (0.28 | ) | $ | (0.27 | ) | |||
Delos Internet [Member] | ' | ||||||||
Note 3 - Business Acquisitions (Tables) [Line Items] | ' | ||||||||
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | ' | ||||||||
Fair value of consideration transferred: | |||||||||
Cash | $ | 225,000 | |||||||
Common stock (385,124 shares) | 951,256 | ||||||||
Capital lease obligations assumed | 128,929 | ||||||||
Other liabilities assumed | 36,733 | ||||||||
Total consideration transferred | 1,341,918 | ||||||||
Fair value of identifiable assets acquired and liabilities assumed: | |||||||||
Cash | 2,058 | ||||||||
Accounts receivable | 79,238 | ||||||||
Property and equipment | 807,700 | ||||||||
Security deposits | 1,993 | ||||||||
Accounts payable | (29,536 | ) | |||||||
Deferred revenue | (59,975 | ) | |||||||
Other liabilities | (89,930 | ) | |||||||
Total identifiable net tangible assets | 711,548 | ||||||||
Customer relationships | 1,634,469 | ||||||||
Total identifiable net assets | 2,346,017 | ||||||||
Gain on business acquisition | $ | 1,004,099 |
Note_4_Property_and_Equipment_
Note 4 - Property and Equipment (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Network and base station equipment | $ | 31,994,152 | $ | 28,983,284 | |||||
Customer premise equipment | 23,427,912 | 23,036,057 | |||||||
Shared wireless infrastructure | 17,889,725 | 17,232,566 | |||||||
Information technology | 4,208,769 | 3,863,212 | |||||||
Furniture, fixtures and other | 1,607,038 | 1,598,979 | |||||||
Leasehold improvements | 789,392 | 789,392 | |||||||
79,916,988 | 75,503,490 | ||||||||
Less: accumulated depreciation | 41,730,905 | 33,521,280 | |||||||
Property and equipment, net | $ | 38,186,083 | $ | 41,982,210 | |||||
Schedule of Capital Leased Assets [Table Text Block] | ' | ||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Network and base station equipment | $ | 828,027 | $ | 736,612 | |||||
Customer premise equipment | 96,843 | 59,330 | |||||||
Shared wireless infrastructure | 1,216,142 | 1,216,142 | |||||||
Information technology | 1,860,028 | 1,779,135 | |||||||
4,001,040 | 3,791,219 | ||||||||
Less: accumulated depreciation | 1,133,614 | 541,800 | |||||||
Property acquired through capital leases, net | $ | 2,867,426 | $ | 3,249,419 |
Note_5_Intangible_Assets_Table
Note 5 - Intangible Assets (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | ' | ||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Goodwill | $ | 1,674,281 | $ | 1,674,281 | |||||
Customer relationships | $ | 11,856,126 | $ | 10,221,659 | |||||
Less: accumulated amortization of customer relationships | 9,346,594 | 6,958,037 | |||||||
Customer relationships, net | 2,509,532 | 3,263,622 | |||||||
FCC licenses | 1,284,555 | 1,284,555 | |||||||
Intangible assets, net | $ | 3,794,087 | $ | 4,548,177 | |||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||||
Remainder of 2013 | $ | 705,260 | |||||||
2014 | 888,969 | ||||||||
2015 | 392,272 | ||||||||
2016 | 392,272 | ||||||||
2017 | 130,759 | ||||||||
$ | 2,509,532 |
Note_6_Accrued_Expenses_Tables
Note 6 - Accrued Expenses (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Accrued Liabilities Disclosure [Abstract] | ' | ||||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | ||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Property and equipment | $ | 780,254 | $ | 1,240,774 | |||||
Payroll and related | 804,164 | 859,130 | |||||||
Professional services | 397,814 | 314,270 | |||||||
Network | 185,720 | 288,060 | |||||||
Other | 276,456 | 283,786 | |||||||
Total | $ | 2,444,408 | $ | 2,986,020 |
Note_7_Other_Liabilities_Table
Note 7 - Other Liabilities (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] | ' | ||||||||
Schedule of Other Liabilities [Table Text Block] | ' | ||||||||
30-Sep-13 | 31-Dec-12 | ||||||||
Current | |||||||||
Deferred rent | $ | - | $ | 86,820 | |||||
Deferred acquisition payments | 103,107 | 148,198 | |||||||
Total | $ | 103,107 | $ | 235,018 | |||||
Long-Term | |||||||||
Deferred acquisition payments | $ | 14,189 | $ | 56,827 | |||||
Deferred taxes | 244,274 | 244,274 | |||||||
Total | $ | 258,463 | $ | 301,101 |
Note_9_StockBased_Compensation1
Note 9 - Stock-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Risk-free interest rate | 1.9 | % | - | 0.8% | - | 1.90% | 0.6% | - | 1.00% | ||||||||||
Expected volatility | 68 | % | - | 65% | - | 68% | 65% | - | 74% | ||||||||||
Expected life (in years) | 6 | - | 5 | - | 6.5 | 5 | - | 5.3 | |||||||||||
Expected dividend yield | - | - | - | - | |||||||||||||||
Weighted average per share grant date fair value | $ | 1.42 | - | $ | 1.44 | $ | 2.16 | ||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||||
Number | Weighted Average | ||||||||||||||||||
Exercise Price | |||||||||||||||||||
Outstanding as of December 31, 2012 | 3,916,045 | $ | 2.85 | ||||||||||||||||
Granted during 2013 | 950,000 | $ | 2.4 | ||||||||||||||||
Exercised | (420,159 | ) | $ | 1.23 | |||||||||||||||
Forfeited /expired | (390,870 | ) | $ | 5.07 | |||||||||||||||
Outstanding as of September 30, 2013 | 4,055,016 | $ | 2.7 | ||||||||||||||||
Exercisable as of September 30, 2013 | 2,676,434 | $ | 2.36 |
Note_12_Fair_Value_Measurement1
Note 12 - Fair Value Measurement (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||
Total | Quoted prices in | Significant other | Significant | ||||||||||||||
Carrying Value | active markets | observable inputs | unobservable inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
30-Sep-13 | $ | 32,793,977 | $ | 32,793,977 | $ | - | $ | - | |||||||||
31-Dec-12 | $ | 15,152,226 | $ | 15,152,226 | $ | - | $ | - |
Note_13_Net_Loss_Per_Common_Sh1
Note 13 - Net Loss Per Common Share (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Earnings Per Share [Abstract] | ' | ||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | ' | ||||
Stock options | 4,055,016 | ||||
Restricted stock | 15,000 | ||||
Warrants | 450,000 | ||||
Total | 4,520,016 |
Note_14_Commitments_Tables
Note 14 - Commitments (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||||||||||||||
Remainder of 2013 | $ | 4,763,777 | |||||||||||||||
2014 | 16,280,282 | ||||||||||||||||
2015 | 15,376,341 | ||||||||||||||||
2016 | 13,949,461 | ||||||||||||||||
2017 | 8,406,490 | ||||||||||||||||
Thereafter | 1,758,256 | ||||||||||||||||
$ | 60,534,607 | ||||||||||||||||
Schedule of Rent Expense [Table Text Block] | ' | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Points of Presence | $ | 1,767,441 | $ | 1,418,061 | $ | 5,108,347 | $ | 4,122,836 | |||||||||
Street level rooftops | 2,707,304 | 1,609,252 | 7,757,206 | 3,209,569 | |||||||||||||
Corporate offices | 121,518 | 126,619 | 366,794 | 365,856 | |||||||||||||
Other | 102,039 | 91,582 | 327,268 | 285,801 | |||||||||||||
$ | 4,698,302 | $ | 3,245,514 | $ | 13,559,615 | $ | 7,984,062 | ||||||||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | ||||||||||||||||
Remainder of 2013 | $ | 262,903 | |||||||||||||||
2014 | 997,824 | ||||||||||||||||
2015 | 908,344 | ||||||||||||||||
2016 | 655,754 | ||||||||||||||||
2017 | 391,305 | ||||||||||||||||
Thereafter | 53,923 | ||||||||||||||||
$ | 3,270,053 | ||||||||||||||||
Less: Interest expense | (468,967 | ) | |||||||||||||||
Total capital lease obligations | $ | 2,801,086 | |||||||||||||||
Current | $ | 809,934 | |||||||||||||||
Long-term | $ | 1,991,152 |
Note_15_Segment_Information_Ta
Note 15 - Segment Information (Tables) | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Fixed | Shared Wireless Infrastructure | Corporate | Eliminations | Total | Fixed | Shared Wireless Infrastructure | Corporate | Eliminations | Total | |||||||||||||||||||||||||||||||||
Wireless | Wireless | |||||||||||||||||||||||||||||||||||||||||
Revenues | $ | 7,910,377 | $ | 535,936 | $ | - | $ | (45,649 | ) | $ | 8,400,664 | Revenues | $ | 24,158,268 | $ | 890,920 | $ | - | $ | (137,127 | ) | $ | 24,912,061 | |||||||||||||||||||
Operating Expenses | Operating Expenses | |||||||||||||||||||||||||||||||||||||||||
Cost of revenues (exclusive of depreciation) | 2,640,529 | 3,110,640 | 67,144 | (45,649 | ) | 5,772,664 | Cost of revenues (exclusive of depreciation) | 7,563,846 | 8,777,611 | 159,265 | (137,127 | ) | 16,363,595 | |||||||||||||||||||||||||||||
Depreciation and amortization | 2,754,675 | 857,739 | 234,230 | - | 3,846,644 | Depreciation and amortization | 8,411,263 | 2,633,176 | 609,118 | - | 11,653,557 | |||||||||||||||||||||||||||||||
Customer support services | 208,955 | 54,765 | 628,990 | - | 892,710 | Customer support services | 565,972 | 214,703 | 2,247,307 | - | 3,027,982 | |||||||||||||||||||||||||||||||
Sales and marketing | 1,206,125 | 80,956 | 81,547 | - | 1,368,628 | Sales and marketing | 3,825,299 | 239,213 | 268,776 | - | 4,333,288 | |||||||||||||||||||||||||||||||
General and administrative | 126,256 | 151,561 | 2,322,351 | - | 2,600,168 | General and administrative | 443,863 | 486,495 | 7,443,442 | - | 8,373,800 | |||||||||||||||||||||||||||||||
Total Operating Expenses | 6,936,540 | 4,255,661 | 3,334,262 | (45,649 | ) | 14,480,814 | Total Operating Expenses | 20,810,243 | 12,351,198 | 10,727,908 | (137,127 | ) | 43,752,222 | |||||||||||||||||||||||||||||
Operating Income (Loss) | $ | 973,837 | $ | (3,719,725 | ) | $ | (3,334,262 | ) | $ | - | $ | (6,080,150 | ) | Operating Income (Loss) | $ | 3,348,025 | $ | (11,460,278 | ) | $ | (10,727,908 | ) | $ | - | $ | (18,840,161 | ) | |||||||||||||||
Capital expenditures | $ | 1,242,975 | $ | 680,324 | $ | 200,347 | $ | - | $ | 2,123,646 | Capital expenditures | $ | 3,358,758 | $ | 1,049,344 | $ | 349,674 | $ | - | $ | 4,757,776 | |||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||
Property and equipment, net | $ | 23,870,843 | $ | 12,439,779 | $ | 1,875,461 | $ | - | $ | 38,186,083 | ||||||||||||||||||||||||||||||||
Total assets | $ | 30,590,803 | $ | 14,881,500 | $ | 34,776,782 | $ | - | $ | 80,249,085 |
Note_2_Summary_of_Significant_2
Note 2 - Summary of Significant Accounting Policies (Details) (USD $) | Sep. 30, 2013 |
Accounting Policies [Abstract] | ' |
Cash, Uninsured Amount (in Dollars) | $24,777,000 |
Cash, FDIC Insured Amount (in Dollars) | 250,000 |
Money Market Funds, at Carrying Value (in Dollars) | 7,766,000 |
Cash Securities Investor Protection Corporation Coverage Amount (in Dollars) | $500,000 |
Note_2_Summary_of_Significant_3
Note 2 - Summary of Significant Accounting Policies (Details) - Changes in Allowance for Doubtful Accounts (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Changes in Allowance for Doubtful Accounts [Abstract] | ' | ' | ' | ' |
Balance | $162,678 | $275,070 | $190,109 | $262,525 |
Additions | 10,000 | 50,000 | 70,000 | 219,082 |
Deductions | -39,552 | -113,656 | -126,983 | -270,193 |
Balance | $133,126 | $211,414 | $133,126 | $211,414 |
Note_3_Business_Acquisitions_D
Note 3 - Business Acquisitions (Details) (USD $) | 1 Months Ended | 9 Months Ended | |
31-May-13 | Sep. 30, 2013 | Sep. 30, 2012 | |
Note 3 - Business Acquisitions (Details) [Line Items] | ' | ' | ' |
Business Combination, Bargain Purchase, Gain Recognized, Amount | ' | $1,004,099 | ($40,079) |
Business Combination, Consideration Transferred | 1,341,918 | 1,341,918 | ' |
Business Acquisition Change In Purchase Price | 83,183 | ' | ' |
Business Acquisition Percentage Change In Purchase Price | 6.00% | ' | ' |
Business Combination Previously Reported Purchase Price | 1,425,101 | ' | ' |
Business Acquisition Purchase Price Allocation Change In Assets Acquired Liabilities Assumed Net | -21,000 | ' | ' |
Business Combination Bargain Purchase Increase Of Gain Recognized | $63,000 | ' | ' |
Before Adjustment to Common Stock [Member] | ' | ' | ' |
Note 3 - Business Acquisitions (Details) [Line Items] | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | 433,673 | ' | ' |
After Adjustment To Common Stock [Member] | ' | ' | ' |
Note 3 - Business Acquisitions (Details) [Line Items] | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | 385,124 | ' | ' |
Common Stock Adjustment [Member] | ' | ' | ' |
Note 3 - Business Acquisitions (Details) [Line Items] | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | 48,549 | ' | ' |
Note_3_Business_Acquisitions_D1
Note 3 - Business Acquisitions (Details) - Consideration Transferred and the Amounts of Identified Assets Acquired and Liabilities Assumed (USD $) | 1 Months Ended | 9 Months Ended | |
31-May-13 | Sep. 30, 2013 | Sep. 30, 2012 | |
Business Acquisition [Line Items] | ' | ' | ' |
Total consideration transferred | $1,341,918 | $1,341,918 | ' |
Total identifiable net tangible assets | ' | 711,548 | ' |
Customer relationships | ' | 1,634,469 | ' |
Total identifiable net assets | ' | 2,346,017 | ' |
Gain on business acquisition | ' | 1,004,099 | -40,079 |
Capital Lease Obligations Assumed [Member] | Delos Internet [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Fair value of liabilies transferred | ' | 128,929 | ' |
Other Liabilities Assumed [Member] | Delos Internet [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Fair value of liabilies transferred | ' | 36,733 | ' |
Delos Internet [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Cash | ' | 225,000 | ' |
Common stock (385,124 shares) | ' | 951,256 | ' |
Cash | ' | 2,058 | ' |
Accounts receivable | ' | 79,238 | ' |
Property and equipment | ' | 807,700 | ' |
Security deposits | ' | 1,993 | ' |
Accounts payable | ' | -29,536 | ' |
Deferred revenue | ' | -59,975 | ' |
Other liabilities | ' | ($89,930) | ' |
Note_3_Business_Acquisitions_D2
Note 3 - Business Acquisitions (Details) - Consideration Transferred and the Amounts of Identified Assets Acquired and Liabilities Assumed (Parentheticals) (Delos Internet [Member]) | 9 Months Ended |
Sep. 30, 2013 | |
Delos Internet [Member] | ' |
Business Acquisition [Line Items] | ' |
Common stock, shares | 385,124 |
Note_3_Business_Acquisitions_D3
Note 3 - Business Acquisitions (Details) - Unaudited Pro Forma Consolidated Results of Operations (USD $) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Unaudited Pro Forma Consolidated Results of Operations [Abstract] | ' | ' | ' |
Revenues | $8,296,362 | $25,024,631 | $24,556,452 |
Amortization expense | 817,979 | 2,453,937 | 2,946,061 |
Total operating expenses | 13,765,459 | 43,924,201 | 39,287,631 |
Net loss | ($5,497,348) | ($18,060,258) | ($14,814,366) |
Basic net loss per share (in Dollars per share) | ($0.10) | ($0.28) | ($0.27) |
Note_4_Property_and_Equipment_1
Note 4 - Property and Equipment (Details) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' | ' |
Depreciation | $3,028,665 | $2,679,531 | ' | $9,264,999 | $7,376,947 |
Property, Plant and Equipment, Disposals | ' | ' | ' | 1,151,978 | 356,915 |
Accumulated Depreciation, Depletion and Amortization, Sale or Disposal of Property, Plant and Equipment | ' | ' | ' | 1,055,375 | 271,993 |
Proceeds from Sale of Property, Plant, and Equipment | ' | ' | ' | 14,779 | 12,850 |
Gain (Loss) on Disposition of Assets | ' | ' | ($81,824) | ($81,824) | ($72,072) |
Note_4_Property_and_Equipment_2
Note 4 - Property and Equipment (Details) - Property and Equipment (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment, gross | $79,916,988 | $75,503,490 |
Less: accumulated depreciation | 41,730,905 | 33,521,280 |
Property and equipment, net | 38,186,083 | 41,982,210 |
Network and Base Station Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment, gross | 31,994,152 | 28,983,284 |
Customer Premise Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment, gross | 23,427,912 | 23,036,057 |
Shared Wireless Infrastructure [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment, gross | 17,889,725 | 17,232,566 |
Information Technology [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment, gross | 4,208,769 | 3,863,212 |
Furniture and Fixtures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment, gross | 1,607,038 | 1,598,979 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment, gross | $789,392 | $789,392 |
Note_4_Property_and_Equipment_3
Note 4 - Property and Equipment (Details) - Property Acquired Through Capital Leases (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Capital Leased Assets [Line Items] | ' | ' |
Capital Leased Assets, Gross | $4,001,040 | $3,791,219 |
Less: accumulated depreciation | 1,133,614 | 541,800 |
Property acquired through capital leases, net | 2,867,426 | 3,249,419 |
Network and Base Station Equipment [Member] | ' | ' |
Capital Leased Assets [Line Items] | ' | ' |
Capital Leased Assets, Gross | 828,027 | 736,612 |
Customer Premise Equipment [Member] | ' | ' |
Capital Leased Assets [Line Items] | ' | ' |
Capital Leased Assets, Gross | 96,843 | 59,330 |
Shared Wireless Infrastructure [Member] | ' | ' |
Capital Leased Assets [Line Items] | ' | ' |
Capital Leased Assets, Gross | 1,216,142 | 1,216,142 |
Information Technology [Member] | ' | ' |
Capital Leased Assets [Line Items] | ' | ' |
Capital Leased Assets, Gross | $1,860,028 | $1,779,135 |
Note_5_Intangible_Assets_Detai
Note 5 - Intangible Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Note 5 - Intangible Assets (Details) [Line Items] | ' | ' | ' | ' |
Amortization of Intangible Assets | $817,979 | $719,911 | $2,388,558 | $2,651,857 |
Delos Internet [Member] | ' | ' | ' | ' |
Note 5 - Intangible Assets (Details) [Line Items] | ' | ' | ' | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | ' | ' | ' | '50 months |
Minimum [Member] | ' | ' | ' | ' |
Note 5 - Intangible Assets (Details) [Line Items] | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Remaining Amortization Period | ' | ' | ' | '2 months |
Maximum [Member] | ' | ' | ' | ' |
Note 5 - Intangible Assets (Details) [Line Items] | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Remaining Amortization Period | ' | ' | ' | '43 months |
Note_5_Intangible_Assets_Detai1
Note 5 - Intangible Assets (Details) - Intangible Assets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Intangible Assets [Abstract] | ' | ' |
Goodwill | $1,674,281 | $1,674,281 |
Customer relationships | 11,856,126 | 10,221,659 |
Less: accumulated amortization of customer relationships | 9,346,594 | 6,958,037 |
Customer relationships, net | 2,509,532 | 3,263,622 |
FCC licenses | 1,284,555 | 1,284,555 |
Intangible assets, net | $3,794,087 | $4,548,177 |
Note_5_Intangible_Assets_Detai2
Note 5 - Intangible Assets (Details) - Future Amortization Expense (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Future Amortization Expense [Abstract] | ' | ' |
Remainder of 2013 | $705,260 | ' |
2014 | 888,969 | ' |
2015 | 392,272 | ' |
2016 | 392,272 | ' |
2017 | 130,759 | ' |
$2,509,532 | $3,263,622 |
Note_6_Accrued_Expenses_Detail
Note 6 - Accrued Expenses (Details) - Accrued Expenses (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Note 6 - Accrued Expenses (Details) - Accrued Expenses [Line Items] | ' | ' |
Accrued Liabilities, Current | $2,444,408 | $2,986,020 |
Property, Plant and Equipment [Member] | ' | ' |
Note 6 - Accrued Expenses (Details) - Accrued Expenses [Line Items] | ' | ' |
Accrued Liabilities, Current | 780,254 | 1,240,774 |
Payroll and Related [Member] | ' | ' |
Note 6 - Accrued Expenses (Details) - Accrued Expenses [Line Items] | ' | ' |
Accrued Liabilities, Current | 804,164 | 859,130 |
Professional Services [Member] | ' | ' |
Note 6 - Accrued Expenses (Details) - Accrued Expenses [Line Items] | ' | ' |
Accrued Liabilities, Current | 397,814 | 314,270 |
Network [Member] | ' | ' |
Note 6 - Accrued Expenses (Details) - Accrued Expenses [Line Items] | ' | ' |
Accrued Liabilities, Current | 185,720 | 288,060 |
Other Current Liabilities [Member] | ' | ' |
Note 6 - Accrued Expenses (Details) - Accrued Expenses [Line Items] | ' | ' |
Accrued Liabilities, Current | $276,456 | $283,786 |
Note_7_Other_Liabilities_Detai
Note 7 - Other Liabilities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Pipeline Wireless [Member] | Delos Internet [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | |||
Pipeline Wireless [Member] | Delos Internet [Member] | Delos Internet [Member] | |||||
Note 7 - Other Liabilities (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Deferred Acquisition Payments, Gross | ' | ' | $133,043 | $25,115 | ' | ' | ' |
Deferred Acquisition Monthly Payments | ' | ' | 16,630 | ' | ' | ' | ' |
Deferred Acquisition Payments Discount Rate | ' | ' | 12.00% | ' | ' | ' | ' |
Liabilities | $7,708,222 | $9,305,806 | ' | ' | $92,181 | ' | ' |
Delos Interest Rate | ' | ' | ' | ' | ' | 7.00% | 12.50% |
Note_7_Other_Liabilities_Detai1
Note 7 - Other Liabilities (Details) - Other Liabilities (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Current | ' | ' |
Deferred rent | ' | $86,820 |
Deferred acquisition payments | 103,107 | 148,198 |
Total | 103,107 | 235,018 |
Long-Term | ' | ' |
Deferred acquisition payments | 14,189 | 56,827 |
Deferred taxes | 244,274 | 244,274 |
Total | $258,463 | $301,101 |
Note_8_Capital_Stock_Details
Note 8 - Capital Stock (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2013 | Feb. 28, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | |
Stockholders' Equity Note [Abstract] | ' | ' | ' | ' |
Stock Issued During Period, Value, New Issues | $3,000,000 | $30,000,000 | ' | $30,499,336 |
Stock Issued During Period, Shares, New Issues (in Shares) | 1,000,000 | 10,000,000 | ' | ' |
Sale of Stock, Price Per Share (in Dollars per share) | $3 | $3 | $3 | ' |
Payment of Financing and Stock Issuance Costs | ' | ' | $2,501,000 | ' |
Note_9_StockBased_Compensation2
Note 9 - Stock-Based Compensation (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | |||||||||||
Aug. 31, 2013 | Feb. 28, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | |
Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Cashless Basis [Member] | Cashless Basis [Member] | Cash Basis [Member] | Cash Basis [Member] | Board of Directors [Member] | Executive Officer [Member] | ||||||||
Note 9 - Stock-Based Compensation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation | ' | ' | ' | ' | ' | $939,200 | $1,353,404 | $253,813 | $403,765 | $885,116 | $1,249,925 | $14,775 | ' | $29,550 | $44,325 | $88,650 | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | ' | ' | 2,044,445 | ' | ' | 2,044,445 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | ' | ' | ' | '2 years 146 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in Shares) | ' | ' | ' | ' | 90,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Total Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 354,600 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares (in Shares) | ' | ' | ' | 30,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,775 | ' | ' | 14,775 | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000 | ' | ' | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 625,000 | 75,000 | ' | ' | ' | 950,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 50,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price (in Dollars per share) | $2.31 | $2.62 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.56 | $2.56 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | ' | ' | ' | ' | ' | 420,159 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,508 | 135,471 | 41,665 | 284,688 | ' | ' |
Stock Issued During Period, Value, Stock Options Exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | 292,389 | ' | ' | ' | ' | ' | ' | ' | 10,016 | 37,770 | ' | ' | ' | ' |
Proceeds from Stock Options Exercised | ' | ' | ' | ' | ' | 292,389 | 312,853 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39,199 | 292,389 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in Shares) | ' | ' | 6,566 | ' | ' | 390,870 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | ' | '6 years 109 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | ' | ' | 3,047,325 | ' | ' | 3,047,325 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | ' | ' | $2,595,864 | ' | ' | $2,595,864 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Price (in Dollars per share) | ' | ' | $2.85 | ' | ' | $2.85 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_9_StockBased_Compensation3
Note 9 - Stock-Based Compensation (Details) - Black-Scholes Option Pricing Model Assumptions (USD $) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | |
Note 9 - Stock-Based Compensation (Details) - Black-Scholes Option Pricing Model Assumptions [Line Items] | ' | ' | ' |
Risk-free interest rate | 1.90% | ' | ' |
Expected volatility | 68.00% | ' | ' |
Expected life (in years) | '6 years | ' | ' |
Weighted average per share grant date fair value (in Dollars per share) | $1.42 | $1.44 | $2.16 |
Minimum [Member] | ' | ' | ' |
Note 9 - Stock-Based Compensation (Details) - Black-Scholes Option Pricing Model Assumptions [Line Items] | ' | ' | ' |
Risk-free interest rate | ' | 0.80% | 0.60% |
Expected volatility | ' | 65.00% | 65.00% |
Expected life (in years) | ' | '5 years | '5 years |
Maximum [Member] | ' | ' | ' |
Note 9 - Stock-Based Compensation (Details) - Black-Scholes Option Pricing Model Assumptions [Line Items] | ' | ' | ' |
Risk-free interest rate | ' | 1.90% | 1.00% |
Expected volatility | ' | 68.00% | 74.00% |
Expected life (in years) | ' | '6 years 6 months | '5 years 109 days |
Note_9_StockBased_Compensation4
Note 9 - Stock-Based Compensation (Details) - Option Transactions under the Stock Option Plans (USD $) | 1 Months Ended | 9 Months Ended | |
Aug. 31, 2013 | Feb. 28, 2013 | Sep. 30, 2013 | |
Option Transactions under the Stock Option Plans [Abstract] | ' | ' | ' |
Outstanding as of December 31, 2012 | ' | ' | 3,916,045 |
Outstanding as of December 31, 2012 (in Dollars per share) | ' | ' | $2.85 |
Granted during 2013 | 625,000 | 75,000 | 950,000 |
Granted during 2013 (in Dollars per share) | ' | ' | $2.40 |
Exercised | ' | ' | -420,159 |
Exercised (in Dollars per share) | ' | ' | $1.23 |
Forfeited /expired | ' | ' | -390,870 |
Forfeited /expired (in Dollars per share) | ' | ' | $5.07 |
Outstanding as of September 30, 2013 | ' | ' | 4,055,016 |
Outstanding as of September 30, 2013 (in Dollars per share) | ' | ' | $2.70 |
Exercisable as of September 30, 2013 | ' | ' | 2,676,434 |
Exercisable as of September 30, 2013 (in Dollars per share) | ' | ' | $2.36 |
Note_10_Stock_Warrants_Details
Note 10 - Stock Warrants (Details) (USD $) | Sep. 30, 2013 |
Stock Warrants [Abstract] | ' |
Class of Warrant or Right, Outstanding | 450,000 |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) | 5 |
Share Price (in Dollars per share) | $2.85 |
Note_11_Employee_Stock_Purchas1
Note 11 - Employee Stock Purchase Plan (Details) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | ||||
Note 11 - Employee Stock Purchase Plan (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Discount Allowed For Shares Issued Under Employee Stock Purchase Plan | ' | ' | ' | 15.00% | 15.00% | 15.00% | 15.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | ' | ' | ' | 200,000 | ' | 200,000 | ' |
Common Stock, Shares, Issued (in Shares) | 66,419,380 | ' | 54,670,712 | 81,441 | ' | 81,441 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | ' | ' | ' | 118,559 | ' | 118,559 | ' |
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in Shares) | ' | ' | ' | 7,526 | ' | 26,086 | ' |
Stock Issued During Period, Value, Employee Stock Purchase Plan | $65,382 | ' | ' | $21,449 | ' | $65,382 | ' |
Share-based Compensation | $939,200 | $1,353,404 | ' | $3,236 | $4,252 | $9,759 | $14,829 |
Note_12_Fair_Value_Measurement2
Note 12 - Fair Value Measurement (Details) - Fair Value of Assets and Liabilities (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Note 12 - Fair Value Measurement (Details) - Fair Value of Assets and Liabilities [Line Items] | ' | ' |
Balance as of | $32,793,977 | $15,152,226 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Note 12 - Fair Value Measurement (Details) - Fair Value of Assets and Liabilities [Line Items] | ' | ' |
Balance as of | $32,793,977 | $15,152,226 |
Note_13_Net_Loss_Per_Common_Sh2
Note 13 - Net Loss Per Common Share (Details) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Earnings Per Share [Abstract] | ' |
Proceeds From Stock Option And Warrant Exercises | $13,197,000 |
Note_13_Net_Loss_Per_Common_Sh3
Note 13 - Net Loss Per Common Share (Details) - Antidilutive Securities | 9 Months Ended |
Sep. 30, 2013 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' |
Antidilutive securities | 4,520,016 |
Stock Options 1 [Member] | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' |
Antidilutive securities | 4,055,016 |
Restricted Stock [Member] | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' |
Antidilutive securities | 15,000 |
Warrant [Member] | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' |
Antidilutive securities | 450,000 |
Note_14_Commitments_Details
Note 14 - Commitments (Details) (USD $) | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | |
Minimum [Member] | Maximum [Member] | ||
Note 14 - Commitments (Details) [Line Items] | ' | ' | ' |
Operating Lease, Renewal Term | ' | '1 year | '25 years |
Other Obligations Quarterly Payments (in Dollars) | $128,000 | ' | ' |
Note_14_Commitments_Details_To
Note 14 - Commitments (Details) - Total Future Operating Lease Obligations (USD $) | Sep. 30, 2013 |
Total Future Operating Lease Obligations [Abstract] | ' |
Remainder of 2013 | $4,763,777 |
2014 | 16,280,282 |
2015 | 15,376,341 |
2016 | 13,949,461 |
2017 | 8,406,490 |
Thereafter | 1,758,256 |
$60,534,607 |
Note_14_Commitments_Details_Re
Note 14 - Commitments (Details) - Rent Expenses (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Note 14 - Commitments (Details) - Rent Expenses [Line Items] | ' | ' | ' | ' |
Rent Expense | $4,698,302 | $3,245,514 | $13,559,615 | $7,984,062 |
Other Property [Member] | ' | ' | ' | ' |
Note 14 - Commitments (Details) - Rent Expenses [Line Items] | ' | ' | ' | ' |
Rent Expense | 102,039 | 91,582 | 327,268 | 285,801 |
Points of Presence [Member] | ' | ' | ' | ' |
Note 14 - Commitments (Details) - Rent Expenses [Line Items] | ' | ' | ' | ' |
Rent Expense | 1,767,441 | 1,418,061 | 5,108,347 | 4,122,836 |
Street Level Rooftops [Member] | ' | ' | ' | ' |
Note 14 - Commitments (Details) - Rent Expenses [Line Items] | ' | ' | ' | ' |
Rent Expense | 2,707,304 | 1,609,252 | 7,757,206 | 3,209,569 |
Corporate Offices [Member] | ' | ' | ' | ' |
Note 14 - Commitments (Details) - Rent Expenses [Line Items] | ' | ' | ' | ' |
Rent Expense | $121,518 | $126,619 | $366,794 | $365,856 |
Note_14_Commitments_Details_To1
Note 14 - Commitments (Details) - Total Future Capital Lease Obligations (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Total Future Capital Lease Obligations [Abstract] | ' | ' |
Remainder of 2013 | $262,903 | ' |
2014 | 997,824 | ' |
2015 | 908,344 | ' |
2016 | 655,754 | ' |
2017 | 391,305 | ' |
Thereafter | 53,923 | ' |
3,270,053 | ' | |
Less: Interest expense | -468,967 | ' |
Total capital lease obligations | 2,801,086 | ' |
Current | 809,934 | 775,087 |
Long-term | $1,991,152 | $2,387,674 |
Note_15_Segment_Information_De
Note 15 - Segment Information (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Segment Reporting [Abstract] | ' |
Number of Reportable Segments | 2 |
Note_15_Segment_Information_De1
Note 15 - Segment Information (Details) - Segment Information (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenues | $8,400,664 | ' | $24,912,061 | ' |
Operating Expenses | ' | ' | ' | ' |
Cost of revenues (exclusive of depreciation) | 5,772,664 | 4,443,991 | 16,363,595 | 11,240,050 |
Depreciation and amortization | 3,846,644 | 3,399,442 | 11,653,557 | 10,028,804 |
Customer support services | 892,710 | 1,173,432 | 3,027,982 | 3,573,561 |
Sales and marketing | 1,368,628 | 1,561,972 | 4,333,288 | 4,598,300 |
General and administrative | 2,600,168 | 2,928,653 | 8,373,800 | 9,073,010 |
Total Operating Expenses | 14,480,814 | 13,507,490 | 43,752,222 | 38,513,725 |
Operating Income (Loss) | -6,080,150 | -5,379,983 | -18,840,161 | -14,463,838 |
Capital expenditures | 2,123,646 | ' | 4,757,776 | ' |
Fixed Wireless [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenues | 7,910,377 | ' | 24,158,268 | ' |
Operating Expenses | ' | ' | ' | ' |
Cost of revenues (exclusive of depreciation) | 2,640,529 | ' | 7,563,846 | ' |
Depreciation and amortization | 2,754,675 | ' | 8,411,263 | ' |
Customer support services | 208,955 | ' | 565,972 | ' |
Sales and marketing | 1,206,125 | ' | 3,825,299 | ' |
General and administrative | 126,256 | ' | 443,863 | ' |
Total Operating Expenses | 6,936,540 | ' | 20,810,243 | ' |
Operating Income (Loss) | 973,837 | ' | 3,348,025 | ' |
Capital expenditures | 1,242,975 | ' | 3,358,758 | ' |
Shared Wireless Infrastructure [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenues | 535,936 | ' | 890,920 | ' |
Operating Expenses | ' | ' | ' | ' |
Cost of revenues (exclusive of depreciation) | 3,110,640 | ' | 8,777,611 | ' |
Depreciation and amortization | 857,739 | ' | 2,633,176 | ' |
Customer support services | 54,765 | ' | 214,703 | ' |
Sales and marketing | 80,956 | ' | 239,213 | ' |
General and administrative | 151,561 | ' | 486,495 | ' |
Total Operating Expenses | 4,255,661 | ' | 12,351,198 | ' |
Operating Income (Loss) | -3,719,725 | ' | -11,460,278 | ' |
Capital expenditures | 680,324 | ' | 1,049,344 | ' |
Corporate Segment [Member] | ' | ' | ' | ' |
Operating Expenses | ' | ' | ' | ' |
Cost of revenues (exclusive of depreciation) | 67,144 | ' | 159,265 | ' |
Depreciation and amortization | 234,230 | ' | 609,118 | ' |
Customer support services | 628,990 | ' | 2,247,307 | ' |
Sales and marketing | 81,547 | ' | 268,776 | ' |
General and administrative | 2,322,351 | ' | 7,443,442 | ' |
Total Operating Expenses | 3,334,262 | ' | 10,727,908 | ' |
Operating Income (Loss) | -3,334,262 | ' | -10,727,908 | ' |
Capital expenditures | 200,347 | ' | 349,674 | ' |
Eliminations [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenues | -45,649 | ' | -137,127 | ' |
Operating Expenses | ' | ' | ' | ' |
Cost of revenues (exclusive of depreciation) | -45,649 | ' | -137,127 | ' |
Total Operating Expenses | ($45,649) | ' | ($137,127) | ' |
Note_15_Segment_Information_De2
Note 15 - Segment Information (Details) - Segment Information (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | $8,400,664 | ' | $24,912,061 | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' |
Cost of revenues (exclusive of depreciation) | 5,772,664 | 4,443,991 | 16,363,595 | 11,240,050 | ' |
Depreciation and amortization | 3,846,644 | 3,399,442 | 11,653,557 | 10,028,804 | ' |
Customer support services | 892,710 | 1,173,432 | 3,027,982 | 3,573,561 | ' |
Sales and marketing | 1,368,628 | 1,561,972 | 4,333,288 | 4,598,300 | ' |
General and administrative | 2,600,168 | 2,928,653 | 8,373,800 | 9,073,010 | ' |
Total Operating Expenses | 14,480,814 | 13,507,490 | 43,752,222 | 38,513,725 | ' |
Operating Income (Loss) | -6,080,150 | -5,379,983 | -18,840,161 | -14,463,838 | ' |
Capital expenditures | 2,123,646 | ' | 4,757,776 | ' | ' |
Property and equipment, net | 38,186,083 | ' | 38,186,083 | ' | 41,982,210 |
Total assets | 80,249,085 | ' | 80,249,085 | ' | 67,109,714 |
Fixed Wireless [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 7,910,377 | ' | 24,158,268 | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' |
Cost of revenues (exclusive of depreciation) | 2,640,529 | ' | 7,563,846 | ' | ' |
Depreciation and amortization | 2,754,675 | ' | 8,411,263 | ' | ' |
Customer support services | 208,955 | ' | 565,972 | ' | ' |
Sales and marketing | 1,206,125 | ' | 3,825,299 | ' | ' |
General and administrative | 126,256 | ' | 443,863 | ' | ' |
Total Operating Expenses | 6,936,540 | ' | 20,810,243 | ' | ' |
Operating Income (Loss) | 973,837 | ' | 3,348,025 | ' | ' |
Capital expenditures | 1,242,975 | ' | 3,358,758 | ' | ' |
Property and equipment, net | 23,870,843 | ' | 23,870,843 | ' | ' |
Total assets | 30,590,803 | ' | 30,590,803 | ' | ' |
Shared Wireless Infrastructure [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 535,936 | ' | 890,920 | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' |
Cost of revenues (exclusive of depreciation) | 3,110,640 | ' | 8,777,611 | ' | ' |
Depreciation and amortization | 857,739 | ' | 2,633,176 | ' | ' |
Customer support services | 54,765 | ' | 214,703 | ' | ' |
Sales and marketing | 80,956 | ' | 239,213 | ' | ' |
General and administrative | 151,561 | ' | 486,495 | ' | ' |
Total Operating Expenses | 4,255,661 | ' | 12,351,198 | ' | ' |
Operating Income (Loss) | -3,719,725 | ' | -11,460,278 | ' | ' |
Capital expenditures | 680,324 | ' | 1,049,344 | ' | ' |
Property and equipment, net | 12,439,779 | ' | 12,439,779 | ' | ' |
Total assets | 14,881,500 | ' | 14,881,500 | ' | ' |
Corporate Segment [Member] | ' | ' | ' | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' |
Cost of revenues (exclusive of depreciation) | 67,144 | ' | 159,265 | ' | ' |
Depreciation and amortization | 234,230 | ' | 609,118 | ' | ' |
Customer support services | 628,990 | ' | 2,247,307 | ' | ' |
Sales and marketing | 81,547 | ' | 268,776 | ' | ' |
General and administrative | 2,322,351 | ' | 7,443,442 | ' | ' |
Total Operating Expenses | 3,334,262 | ' | 10,727,908 | ' | ' |
Operating Income (Loss) | -3,334,262 | ' | -10,727,908 | ' | ' |
Capital expenditures | 200,347 | ' | 349,674 | ' | ' |
Property and equipment, net | 1,875,461 | ' | 1,875,461 | ' | ' |
Total assets | 34,776,782 | ' | 34,776,782 | ' | ' |
Eliminations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | -45,649 | ' | -137,127 | ' | ' |
Operating Expenses | ' | ' | ' | ' | ' |
Cost of revenues (exclusive of depreciation) | -45,649 | ' | -137,127 | ' | ' |
Total Operating Expenses | ($45,649) | ' | ($137,127) | ' | ' |