Nutex Health (NUTX) 10-K15 Apr 152014 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2014	Apr. 15, 2015
Document and Entity Information:
Entity Registrant Name	iGambit, Inc.
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Entity Central Index Key	1479681
Current Fiscal Year End Date	-19
Entity Common Stock, Shares Outstanding		26,583,990
Entity Public Float		$26,583,990
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

IGAMBIT_INC_CONSOLIDATED_BALAN

IGAMBIT INC CONSOLIDATED BALANCE SHEETS DECEMBER 31 2014 AND 2013 (USD $)	Dec. 31, 2014	Dec. 31, 2013
Assets, Current
Cash and Cash Equivalents, at Carrying Value	$133,436	$26,870
Accounts Receivable, Net, Current	81,671	135,292
Prepaid Expense, Current	45,110	10,590
Due from Rescission Agreement, Current		239,779
Assets from discontinued operations		638,215
Assets, Current	260,217	1,050,746
Assets, Noncurrent
Property and Equipment, Net	8,436	11,176
Deposits Assets, Noncurrent	12,133	9,420
Assets	280,786	1,071,342
Liabilities, Current
Accounts Payable, Current	285,277	316,566
Convertible Notes Payable, Current		40,250
Derivative Instruments and Hedges, Liabilities		152,076
Notes Payable, related party		6,263
Liabilities, Current	285,277	515,155
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest
Common Stock, Value, Outstanding	26,584	25,044
Additional Paid in Capital, Common Stock	2,851,124	2,729,000
Retained Earnings (Accumulated Deficit)	-2,882,199	-2,197,857
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	-4,491	556,187
Liabilities and Equity	$280,786	$1,071,342

Statement_of_Financial_Positio

Statement of Financial Position - Parenthetical Igambit Inc December 31st 2014 and 2013 (USD $)	Dec. 31, 2014	Dec. 31, 2013
Condensed Consolidated Balance Sheets Parenthetical
Preferred Stock, Par Value	$0.00
Preferred Stock, Shares Authorized	100,000,000
Preferred Stock, Shares Issued	0
Preferred Stock, Shares Outstanding	0
Common Stock, Par Value	$0.00	$0.00
Common Stock, Shares Authorized	200,000,000	75,000,000
Common Stock, Shares Issued	26,583,990	25,044,056
Common Stock, Shares Outstanding	26,583,990	25,044,056
Common Stock, Value, Outstanding	$26,584	$25,044

IGAMBIT_INC_STATEMENT_OF_INCOM

IGAMBIT INC STATEMENT OF INCOME JANUARY 1ST TO DECEMBER 31ST 2014 AND 2013 (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Revenues
Sales Revenue, Net	$1,068,617	$1,461,183
Cost of Sales	465,337	496,008
Gross Profit	603,280	965,175
Operating Expenses
General and Administrative Expense	1,383,646	1,692,556
Operating Income (Loss)	-780,366	-727,381
Investment Income, Nonoperating
Gain on derivative liability	152,076
Interest Expense	-10,333	-54,505
Other Depreciation and Amortization	-63,250	-40,250
Income from rescission agreement		755,000
Nonoperating Income (Expense)	78,493	660,245
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	-701,873	-67,136
Income (Loss) from Continuing Operations	-701,873	-67,136
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	17,531	317,625
Net Income (Loss) Attributable to Parent	($684,342)	$250,489
Earnings Per Share
Continuing operations	($0.03)	$0
Discontinued operations, net of tax	$0	$0.01
Weighted Average Number of Shares Outstanding, Diluted	27,373,471	25,987,956
Earnings Per Share, Basic and Diluted	($0.03)	($0.01)
Weighted Average Number of Shares Outstanding, Basic	25,947,791	25,044,056

IGAMBIT_INC_CONSOLIDATED_STATE

IGAMBIT INC CONSOLIDATED STATEMENTS OF CASH FLOWS JANUARY 1ST TO DECEMBER 31ST 2014 AND 2013 (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Net Cash Provided by (Used in) Operating Activities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	($684,342)	$250,489
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
Depreciation	4,766	6,694
Income from discontinued operations	-17,531	-317,625
Debt discount interest expense		48,576
Depreciation, Depletion and Amortization	63,250	40,250
Stock-based compensation expense	74,664
Gain on derivative liability	152,076
Increase (Decrease) in Operating Assets
Increase (Decrease) in Receivables	53,621	23,149
Increase (Decrease) in Prepaid Expense and Other Assets	-34,520	122,487
Due from rescission agreement	239,779	-239,779
Increase (Decrease) in Operating Liabilities
Increase (Decrease) in Accounts Payable	-37,552	-117,392
Net cash used by continuing operating activities	-489,941	134,474
Net cash used by discontinued operating activities	655,746	-317,625
Net Cash Provided by (Used in) Operating Activities	165,805	-183,151
Net Cash Provided by (Used in) Investing Activities
Payments to Acquire Property, Plant, and Equipment	-2,026
Proceeds from Sale and Collection of Receivables	-2,713	1,800
Net cash provided (used) by continuing investing activities	-4,739	1,800
Net Cash Provided by (Used in) Investing Activities	-4,739	1,800
Net Cash Provided by (Used in) Financing Activities
Proceeds from (Repayments of) Other Debt	-54,500	103,500
Net Cash Provided by (Used in) Financing Activities	-54,500	103,500
Cash and Cash Equivalents, Period Increase (Decrease)	106,566	-77,851
Cash Beginning of Period	26,870	104,721
Cash End of period	$133,436	$26,870

Consolidated_Statement_of_Shar

Consolidated Statement of Shareholders' Equity Igambit Inc Years ended December 31, 2013 and 2012 (USD $)	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Total
Stockholders' Equity, before treasury stock at Dec. 31, 2011	$23,954	$2,403,090	($824,451)	$1,602,593
Shares, Outstanding at Dec. 31, 2011	23,954,056
Stock Issued During Period, Value, Services	1,090	325,910		327,000
Stock Issued During Period, Shares, Services	1,090,000
Net Income (Loss), per basic and diluted share			($1,623,895)	($1,623,895)
Stockholders' Equity, before treasury stock at Dec. 31, 2012	25,044	2,729,000	-2,448,346	305,698
Shares, Outstanding at Dec. 31, 2012	25,044,056			23,954,056
Net Income (Loss), per basic and diluted share			$250,489	$250,489
Stockholders' Equity, before treasury stock at Dec. 31, 2013	25,044	2,729,000	-2,197,857	556,187
Shares, Outstanding at Dec. 31, 2013	25,044,056			25,044,056
Adjustments to Additional Paid in Capital, Compensation Vested Stock options		74,664		74,664
Adjustments to Additional Paid in Capital, Note Payable converted to common stock	1,539,934
Stock Issued During Period, Value, Services	1,540	47,460		49,000
Net Income (Loss), per basic and diluted share			($684,342)	($684,342)
Stockholders' Equity, before treasury stock at Dec. 31, 2014	$26,584	$2,851,124	($2,882,199)	($4,491)
Shares, Outstanding at Dec. 31, 2014	26,583,990			26,583,990

Note_1_Organization_and_Basis_

Note 1 - Organization and Basis of Presentation	12 Months Ended
Note 1 - Organization and Basis of Presentation	Dec. 31, 2014
Notes
Note 1 - Organization and Basis of Presentation
	Note 1 - Organization and Basis of Presentation

	The consolidated financial statements presented are those of iGambit Inc., (the “Company”) and its wholly-owned subsidiary, Gotham Innovation Lab Inc. (“Gotham”). The Company was incorporated under the laws of the State of Delaware on April 13, 2000. The Company was originally incorporated as Compusations Inc. under the laws of the State of New York on October 2, 1996. The Company changed its name to BigVault.com Inc. upon changing its state of domicile on April 13, 2000. The Company changed its name again to bigVault Storage Technologies Inc. on December 21, 2000 before changing to iGambit Inc. on April 5, 2006. Gotham was incorporated under the laws of the state of New York on September 23, 2009. The Company is a holding company which seeks out acquisitions of operating companies in technology markets. Gotham is in the business of providing media technology services to real estate agents and brokers in the New York metropolitan area. .

Note_2_discontinued_Operations

Note 2 -discontinued Operations	12 Months Ended
Note 2 -discontinued Operations	Dec. 31, 2014
Notes
Note 2 -discontinued Operations	Note 2 –Discontinued Operations

	] Accounts Receivable Assets from discontinued operations, net includes accounts receivable which represents 50% of contingency payments earned for the previous quarters. The reserve for bad debts of $250,000 charged to operations in 2010 was reversed in connection with the Summary Judgment and Forbearance Agreement described in Note 11. Also included is accrued interest receivable of $85,156 recorded for interest granted on the balance due from Digi-data through May 2014. The entire balance including accrued interest totaling $655,746 was repaid to the Company by Digi-data in the year ended December 31, 2014

Note_3_Summary_of_Significant_

Note 3 - Summary of Significant Accounting Policies	12 Months Ended
Note 3 - Summary of Significant Accounting Policies	Dec. 31, 2014
Notes
Note 3 - Summary of Significant Accounting Policies
	Note 3 – Summary of Significant Accounting Policies

	Principles of Consolidation

	The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Gotham Innovation Lab, Inc. All intercompany accounts and transactions have been eliminated.



	Use of Estimates in the Preparation of Financial Statements

	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.


	Fair Value of Financial Instruments

	For certain of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and amounts due to related parties, the carrying amounts approximate fair value due to their short maturities. Additionally, there are no assets or liabilities for which fair value is remeasured on a recurring basis.



	Revenue Recognition

	The Company’s revenues are derived primarily from the sale of products and services rendered to real estate brokers. The Company recognizes revenues when the services or products have been provided or delivered, the fees charged are fixed or determinable, the Company and its customers understand the specific nature and terms of the agreed upon transactions, and collectability is reasonably assured.



	Advertising Costs

	The Company expenses advertising costs as incurred. Advertising costs for the years ended December 31, 2014 and 2013 were $3,543 and $5,786, respectively.


	Cash and Cash Equivalents

	For purposes of reporting cash flows, cash and cash equivalents include checking and money market accounts and any highly liquid debt instruments purchased with a maturity of three months or less.



	Accounts Receivable

	The Company analyzes the collectability of accounts receivable from continuing operations each accounting period and adjusts its allowance for doubtful accounts accordingly. A considerable amount of judgment is required in assessing the realization of accounts receivables, including the creditworthiness of each customer, current and historical collection history and the related aging of past due balances. The Company evaluates specific accounts when it becomes aware of information indicating that a customer may not be able to meet its financial obligations due to deterioration of its financial condition, lower credit ratings, bankruptcy or other factors affecting the ability to render payment. Allowance for doubtful accounts was $17,865 at December 31, 2014 and 2013, respectively. Bad debt expense of $4,295 and $0 was charged to operations for the years ended December 31, 2014 and 2013, respectively.


	Property and equipment and depreciation


	Property and equipment are stated at cost. Depreciation for both financial reporting and income tax purposes is computed using combinations of the straight line and accelerated methods over the estimated lives of the respective assets. Computer equipment is depreciated over 5 years and furniture and fixtures are depreciated over 7 years. Maintenance and repairs are charged to expense when incurred. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts and any gain or loss is credited or charged to income.

	Depreciation expense of $4,766 and $6,694was charged to operations for the years ended December 31, 2014 and 2013, respectively.


	Stock-Based Compensation

	The Company accounts for its stock-based awards granted under its employee compensation plan in accordance with ASC Topic No. 718-20, Awards Classified as Equity, which requires the measurement of compensation expense for all share-based compensation granted to employees and non-employee directors at fair value on the date of grant and recognition of compensation expense over the related service period for awards expected to vest. The Company uses the Black-Scholes option pricing model to estimate the fair value of its stock options and warrants. The Black-Scholes option pricing model requires the input of highly subjective assumptions including the expected stock price volatility of the Company’s common stock, the risk free interest rate at the date of grant, the expected vesting term of the grant, expected dividends, and an assumption related to forfeitures of such grants. Changes in these subjective input assumptions can materially affect the fair value estimate of the Company’s stock options and warrants.




	Income Taxes

	The Company accounts for income taxes using the asset and liability method in accordance with ASC Topic No. 740, Income Taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities, and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse.

	The Company applies the provisions of ASC Topic No. 740 for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the Company’s financial statements. In accordance with this provision, tax positions must meet a more-likely-than-not recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position.

	Recent Accounting Pronouncements

FASB ASC 606 ASU 2014-09 - Revenue from contracts with customers:

In May 2014, the FASB issued amended guidance on contracts with customers to transfer goods or services or contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). The guidance requires an entity to recognize revenue on contracts with customers to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires that an entity depict the consideration by applying the following steps:

Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price.
Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. This amendment is to be either retrospectively adopted to each prior reporting period presented or retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. Adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements.


FASB ASC 718 ASU 2014-12 – Compensation – Stock Compensation:

In June 2014, the FASB issued ASU No. 2014-12, "Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could be Achieved after the Requisite Service Period," ("ASU 2014-12"). The amendments in ASU 2014-12 require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in ASC Topic No. 718, "Compensation -Stock Compensation" as it relates to awards with performance conditions that affect vesting to account for such awards. The amendments in ASU 2014-12 are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted. Entities may apply the amendments in ASU 2014-12 either: (a) prospectively to all awards granted or modified after the effective date; or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The Company does not anticipate that the adoption of

ASU 2014-12 will have a material impact on its consolidated financial statements.

Note_4_Earnings_Per_Common_Sha

Note 4 - Earnings Per Common Share

12 Months Ended

Dec. 31, 2014

Notes

Note 4 - Earnings Per Common Share

Note 4 – Earnings Per Common Share

The Company calculates net earnings (loss) per common share in accordance with ASC 260 “Earnings Per Share” (“ASC 260”). Basic and diluted net earnings (loss) per common share was determined by dividing net earnings (loss) applicable to common stockholders by the weighted average number of common shares outstanding during the period. The Company’s potentially dilutive shares, which include outstanding common stock options and common stock warrants, have not been included in the computation of diluted net earnings (loss) per share for all periods as the result would be anti-dilutive.

Schedule of earnings

Years Ended

31-Dec-14

31-Dec-13

Stock options

1,518,900

Aver Stock warrants

275,000

Basic Total shares excluded from calculation

1,793,900

Note_5stock_Based_Compensation

Note 5-stock Based Compensation	12 Months Ended
Note 5-stock Based Compensation	Dec. 31, 2014
Notes
Note 5-stock Based Compensation
	Note 5–Stock Based Compensation

	Stock-based compensation expense for all stock-based award programs, including grants of stock options and warrants, is recorded in accordance with "Compensation—Stock Compensation", Topic 718 of the FASB ASC. Stock-based compensation expense, which is calculated net of estimated forfeitures, is computed using the grant date fair-value and amortized over the requisite service period for all stock awards that are expected to vest. The grant date fair value for stock options and warrants is calculated using the Black-Scholes option pricing model. Determining the fair value of options at the grant date requires judgment, including estimating the expected term that stock options will be outstanding prior to exercise, the associated volatility of the Company’s common stock, expected dividends, and a risk-free interest rate. Stock-based compensation expense is reported under general and administrative expenses in the accompanying consolidated statements of operations.

	Options

	In 2006, the Company adopted the 2006 Long-Term Incentive Plan (the "2006 Plan"). Awards granted under the 2006 Plan have a ten-year term and may be incentive stock options, non-qualified stock options or warrants. The awards are granted at an exercise price equal to the fair market value on the date of grant and generally vest over a three or four year period. The Plan expired on December 31, 2009, therefore as of December 31, 2014, there was no unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the 2006 plan.

	The 2006 Plan provided for the granting of options to purchase up to 10,000,000 shares of common stock. 8,146,900 options have been issued under the plan to date of which 7,157,038 have been exercised and 692,962 have expired to date. There were 296,900 options outstanding under the 2006 Plan on its expiration date of December 31, 2009. All options issued subsequent to this date were not issued pursuant to any plan.

	Stock option activity during the years ended December 31, 2014 and 2013 follows:

												Weighted
												Average
									Weighted			Remaining
								Average				Contractual
					Weighted
					Average
		Options			Exercise Price			Grant-Date				Life (Years)
		Outstanding			Exercise Price			Fair Value				Life (Years)
	Options outstanding at December 31, 2012		1,268,900		$	0.08		$			0.1	6.16
	Expired		-600,000			0.1					0.06
	Options outstanding at December 31, 2013		668,900			0.06					0.1	4.69
	Options granted		850,000			0.04					0.1
	Options outstanding at December 31, 2014		1,518,900		$	0.03		$			0.1	4.76

	Options outstanding at December 31, 2014 consist of:

	Date		Number		Number		Exercise		Expiration
	Issued		Outstanding		Exercisable		Price		Date
	1-May-06		100,000		100,000		$0.01		1-May-16
	1-May-06		100,000		100,000		$0.01		1-May-16
	1-May-06		50,000		50,000		$0.01		1-May-16
	1-May-06		46.9		46,900		$0.01		1-May-16
	9-Jun-14		213,000		213,000		$0.03		9-Jun-24
	9-Jun-14		159,000		159,000		$0.03		9-Jun-24
	9-Jun-14		600,000		600,000		$0.03		9-Jun-24
	6-Jun-14		250,000		250,000		$0.05		6-Jun-19
	Total		1,518,900		1,518,900



	Warrants

	In addition to our 2006 Long Term Incentive Plan, we have issued an outstanding compensatory warrants to two consultants entitling the holders to purchase a total of 275,000 shares of our common stock at an average exercise price of $0.94 per share. Warrants to purchase 25,000 shares of common stock vest upon six months after the Company engages in an IPO, have an exercise price of $3.00 per share, and expire two years after the Company engages in an IPO. Warrants to purchase 250,000 shares of common stock vest 100,000 shares on issuance (June 1, 2009), and 50,000 shares on each of the following three anniversaries of the date of issuance, have exercise prices ranging from $0.50 per share to $1.15 per share, and expire on June 1, 2019. The issuance of the compensatory warrants was not submitted to our shareholders for their approval.

	Warrant activity during the years ended December 31, 2014 and 2013 follows:

									Weighted			(1)Weighted
					Weighted			Average Grant-Date				Average Remaining
		Warrants			Average Exercise Price			Fair Value				Contractual Life (Years)
		Outstanding			Average Exercise Price			Fair Value				Contractual Life (Years)
	Warrants outstanding at December 31, 2012		275,000		$	0.94				$	0.1	6.42
	No warrant activity		--			--					--
	Warrants outstanding at December 31, 2013		275,000		$	0.94				$	0.1	5.42
	No warrant activity		--			--					--
	Warrants outstanding at December 31, 2014		275,000		$	0.94				$	0.1	4.42


	(1) Exclusive of 25,000 warrants expiring two years after initial IPO.

	Warrants outstanding at December 31, 2014 consist of:

Date		Number		Number		Exercise		Expiration
Issued		Outstanding		Exercisable		Price		Date
1-Apr-00		25,000		25,000		$3.00		2 years after IPO
1-Jun-09		100,000		100,000		$0.50		1-Jun-19
1-Jun-09		50,000		50,000		$0.65		1-Jun-19
1-Jun-09		50,000		50,000		$0.85		1-Jun-19
1-Jun-09		50,000		50,000		$1.15		1-Jun-19
Total		275,000		275,000

Note_6_Convertible_Note_Payabl

Note 6 - Convertible Note Payable	12 Months Ended
Note 6 - Convertible Note Payable	Dec. 31, 2014
Notes
Note 6 - Convertible Note Payable	Note 6 – Convertible Note Payable

	On September 16, 2013, the Company issued an 8% convertible note in the aggregate principal amount of $103,500, convertible into shares of the Company’s common stock. The Note, including accrued interest was due June 18, 2014 and was convertible any time after 180 days at the option of the holder into shares of the Company’s common stock at 55% of the average stock price of the lowest three closing bid prices during the 10 trading day period ending on the latest complete trading day prior to the conversion date. Interest expense on the convertible note of $3,242 was recorded for the year ended December 31, 2014.

	Initially the Company had anticipated repaying the obligation prior to the effective date of the holder electing to convert. Since the effective date of the election to convert has passed the Company recorded a debt discount related to identified embedded derivatives relating to conversion features and a reset provisions (see Note 7) based fair values as of the inception date of the Note. The calculated debt discount equaled the face of the note and was amortized over the term of the note. During the year ended December 31, 2014, the Company amortized $63,250 of debt discount. During the year ended December 31, 2014, the note holder converted $49,000 of the principal balance to 1,539,934 shares of common stock, and the Company repaid the remaining note balance of $54,500 and accrued interest of $5,646 on June 18, 2014.

Note7_Derivative_Liability

Note7 - Derivative Liability	12 Months Ended
Note7 - Derivative Liability	Dec. 31, 2014
Notes
Note7 - Derivative Liability
	Note 7 - Derivative Liability

	Convertible Note

	During the year ended December 31, 2013, the Company issued a convertible note (see Note 6 above).

	The note is convertible into common stock, at the holders’ option, at a discount to the market price of the Company’s common stock. The Company has identified embedded derivatives included in these notes as a result of certain anti-dilutive (reset) provisions, related to certain conversion features. The accounting treatment of derivative financial instruments requires that the Company record the fair value of the derivatives as of the inception date of the convertible note and debt discount amortization to fair value as of each subsequent reporting date. This resulted in a fair value of derivative liability of $152,076 in which to the extent of the face value of convertible note was treated as debt discount with the remainder treated as interest expense.

	The fair value of the embedded derivatives at December 31, 2013, in the amount of $152,076, was determined using the Binomial Option Pricing Model based on the following assumptions: (1) dividend yield of 0%; (2) expected volatility of 243.00%, (3) weighted average risk-free interest rate of 0.09%, (4) expected lives of 0.72 to 0.75 years, and (5) estimated fair value of the Company’s common stock of $0.51 per share. The Company recorded interest expense from the excess of the derivative liability over the convertible note of $48,576 during the year ended December 31, 2013. A gain on derivative liability of $152,076 was recorded during the year ended December 31, 2014 for the satisfaction of the convertible note.

	Based upon ASC 840-15-25 (EITF Issue 00-19, paragraph 11) the Company has adopted a sequencing approach regarding the application of ASC 815-40 to its outstanding convertible note. Pursuant to the sequencing approach, the Company evaluates its contracts based upon earliest issuance date.

Note_9_Income_Taxes

Note 9 - Income Taxes	12 Months Ended
Note 9 - Income Taxes	Dec. 31, 2014
Notes
Note 9 - Income Taxes

	Note 9 - Income Taxes

	The Company follows Accounting Standards Codification subtopic 740, Income Taxes (“ASC 740”) which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under such method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred taxes are classified as current or non-current, depending on the classification of the assets and liabilities to which they relate.

	The difference between income tax expense computed by applying the federal statutory corporate tax rate and actual income tax expense is as follows:

	Years Ended
	December 31,
	2014 2013

	Statutory U.S. federal income tax rate 34.0% 34.0%
	State income taxes, net of
	federal income tax benefit 0.1% 0.0%
	Tax effect of expenses that are not
	deductible for income tax purposes (0.8)% 1.0%
	Return to Provision Items 0.0% 11.0%
	Other 0.0% 0.6%
	Change in Valuation Allowance (33.3)% (46.6)%
	Effective tax rate (0.0)% (0.0)%


	At December 31, the significant components of the deferred tax assets (liabilities) are summarized below:
	2014 2013
	Deferred Tax Assets:
	Net Operating Losses $874,716 $612,173
	Other 36,744 3,258
	Total deferred tax assets 911,460 615,431

	Deferred Tax Liabilities: -- --
	Total deferred tax liabilities -- --

	Valuation Allowance (911,460) (615,431)

	Net deferred tax assets $ -- $ --

	As of December 31, 2014, the Company had federal and state net operating loss carryforwards of approximately $2.0 million and $3.8 million, respectively, which expire at various dates from 2023 through 2034. These net operating loss carry forwards may be used to offset future taxable income and thereby reduce the Company’s U.S. federal and state income taxes.

	In accordance with ASC 740, a valuation allowance must be established if it is more likely than not that the deferred tax assets will not be realized. This assessment is based upon consideration of available positive and negative evidence, which includes, among other things, the Company’s most recent results of operations and expected future profitability. Based on the Company’s cumulative losses in recent years, a full valuation allowance against the Company’s deferred tax assets as of December 31, 2012 has been established as Management believes that the Company will not realize the benefit of those deferred tax assets.

	The Company complies with the provisions of ASC 740-10 in accounting for its uncertain tax positions. ASC 740-10 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740-10, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely that not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Management has determined that the Company has no significant uncertain tax positions requiring recognition under ASC 740-10.

	The Company is subject to income tax in the U.S., and certain state jurisdictions. The Company has not been audited by the U.S. Internal Revenue Service, or any states in connection with income taxes. The Company’s tax years generally remain open to examination for all federal and state income tax matters until its net operating loss carryforwards are utilized and the applicable statutes of limitation have expired. The federal and state tax authorities can generally reduce a net operating loss (but not create taxable income) for a period outside the statute of limitations in order to determine the correct amount of net operating loss which may be allowed as a deduction against income for a period within the statute of limitations.

	The Company recognizes interest and penalties related to unrecognized tax benefits, if incurred, as a component of income tax expense.

Note_10_Retirement_Plan

Note 10 - Retirement Plan	12 Months Ended
Note 10 - Retirement Plan	Dec. 31, 2014
Notes
Note 10 - Retirement Plan

	Note 10-Retirement Plan

	Gotham has adopted the Gotham Innovation Lab, Inc. SIMPLE IRA Plan, which covers substantially all employees. Participating employees may elect to contribute, on a tax-deferred basis, a portion of their compensation in accordance with Section 408 (a) of the Internal Revenue Code. The Company matches up to 3% of employee contributions. The Company's contributions to the plan for the years ended December 31, 2014 and 2013 were $6,630 and $14,572, respectively.

Note_11_Concentrations_and_Cre

Note 11 - Concentrations and Credit Risk	12 Months Ended
Note 11 - Concentrations and Credit Risk	Dec. 31, 2014
Notes
Note 11 - Concentrations and Credit Risk	Note 11 – Concentrations and Credit Risk

	Sales and Accounts Receivable

	Gotham had sales to one customer which accounted for approximately 70%of Gotham’s total sales for the year ended December 31, 2014.The one customer accounted for approximately 60%of accounts receivable at December 31, 2014.

	Gotham had sales to two customers which accounted for approximately 45% and 24%, respectively of Gotham’s total sales for the year ended December 31, 2013. One customer accounted for approximately 53% of accounts receivable at December 31, 2013.



	Cash

	Cash is maintained at a major financial institution. Accounts held at U.S. financial institutions are insured by the FDIC up to $250,000. Cash balances could exceed insured amounts at any given time, however, the Company has not experienced any such losses. The Company did not have any interest-bearing accounts at December 31, 2014 and 2013, respectively.

Fair_Value_Measurement_Policy

Fair Value Measurement, Policy	12 Months Ended
Fair Value Measurement, Policy	Dec. 31, 2014
Notes
Fair Value Measurement, Policy

	Note 12 - Fair Value Measurement

	The Company adopted the provisions of Accounting Standards Codification subtopic 825-10, Financial Instruments (“ASC 825-10”) on January 1, 2008. ASC 825-10 defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. ASC 825-10 establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 825-10 establishes three levels of inputs that may be used to measure fair value:

	Level 1 – Quoted prices in active markets for identical assets or liabilities.

	Level 2 – Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.

	Level 3 – Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.

	All items required to be recorded or measured on a recurring basis consist of derivative liabilities and are based upon level 3 inputs.

	To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level is the fair value hierarchy within which the fair value measurement is disclosed and is determined based on the lowest level input that is significant to the fair value measurement.

	Upon adoption of ASC 825-10, there was no cumulative effect adjustment to beginning retained earnings and no impact on the financial statements.

	The carrying value of the Company’s cash and cash equivalents, accounts receivable, accounts payable, short-term borrowings (including convertible note payable), and other current assets and liabilities approximate fair value because of their short-term maturity.

	As of December 31, 2014 and 2013, the Company did not have any items that would be classified as level 1 or 2 disclosures.

	The Company recognizes its derivative liabilities as level 3 and values its derivatives using the methods discussed in Note 7. While the Company believes that its valuation methods are appropriate and consistent with other market participants, it recognizes that the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The primary assumptions that would significantly affect the fair values using the methods discussed in Note 7 are that of volatility and market price of the underlying common stock of the Company.

	As of December 31, 2014 and 2013, the Company did not have any derivative instruments that were designated as hedges.

	The derivative liability as of December 31, 2013, in the amount of $152,076 has a level 3 classification. Further, there were no changes in fair value of the Company’s level 3 financial liabilities during the year ended December 31, 2014.

	Fluctuations in the Company’s stock price are a primary driver for the changes in the derivative valuations during each reporting period. As the stock price decreases for each of the related derivative instruments, the value to the holder of the instrument generally decreases, therefore decreasing the liability on the Company’s balance sheet. Additionally, stock price volatility is one of the significant unobservable inputs used in the fair value measurement of each of the Company’s derivative instruments. The simulated fair value of these liabilities is sensitive to changes in the Company’s expected volatility. A 10% change in pricing inputs and changes in volatilities and correlation factors would currently not result in a material change in value for the level 3 financial liability.

Note_12_Related_Party_Transact

Note 12 - Related Party Transactions	12 Months Ended
Note 12 - Related Party Transactions	Dec. 31, 2014
Notes
Note 12 - Related Party Transactions
	Note 13 - Related Party Transactions

	Note Payable – Related Party

	Gotham was provided a loan which was due on December 31, 2013 from an entity that was previously a related party. The balance of $6,263 has not been paid and is accordingly included in accounts payable at December 31, 2014.

Note_15_Rescission_of_Purchase

Note 15 - Rescission of Purchase Agreement For Acquisition of Igx Global Inc. and	12 Months Ended
	Dec. 31, 2014
Notes
Note 15 - Rescission of Purchase Agreement For Acquisition of Igx Global Inc. and
	Note 15 – Rescission of Purchase Agreement for Acquisition of IGX Global Inc. and
	IGX Global UK Limited

	On April 8, 2013, the Company and its wholly owned subsidiary, IGXGLOBAL, CORP. entered into, and became obligated under, a transaction to rescind the Company’s purchase agreement dated December 28, 2012 (the “Purchase Agreement”) with IGX Global Inc. (“IGXUS”), IGX Global UK Limited (“IGXUK”) and Thomas Duffy (“DUFFY”) the sole shareholder of both IGXUK and IGXUS.

	Under the Purchase Agreement, the Company intended to purchase, as of December 31, 2012, substantially all of the assets of IGXUS and all of the issued and outstanding shares of IGXUK and thereby the acquired business operated by IGXUS and IGXUK (the “Acquired Business”). The original agreement called for a $500,000 payment at closing, a $1,000,000 Promissory Note, assumption of certain liabilities of the IGXUS up to $2,500,000 and 3.75 million shares of iGambit stock to be earned over a three year period based upon certain revenue and earnings targets. The Company had arranged financing at the original effective date of the purchase to pay the $500,000 payment and payoff certain liabilities of IGXUS.

	On April 8, 2013, under the terms of a Rescission Agreement, the Company, IGXUS, IGXUK and Duffy (IGX), agreed to unwind the Purchase Agreement in its entirety and to fully restore each to the positions they were respectively prior to entering into the Purchase Agreement. This included IGX obtaining financing to payoff the entire balance of the financing the Company had obtained to fund the upfront payment and certain liabilities at the original closing date; IGX also assumed and paid certain expenses related to the purchase. Also as consideration for iGambit’s expenses and inconvenience, the Company received $130,000 prior to the effective date of the rescission from IGX, and upon the effective date of the rescission, an additional payment of $275,000, and will receive an additional $350,000 payable in equal monthly installments over 18 months. The consideration from IGX totaling $755,000 is reported as Other Income in the Statements of Operations for the year ended December 31, 2013. The balance due from IGX of $225,779 was settled for $175,000, which was received on June 16, 2014. The uncollectible balance of $50,779 was charged to operations.

Note_2_discontinued_Operations1

Note 2 -discontinued Operations: Accounts Receivable (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Accounts Receivable
	Accounts Receivable

	Assets from discontinued operations, net includes accounts receivable which represents 50% of contingency payments earned for the previous quarters. The reserve for bad debts of $250,000 charged to operations in 2010 was reversed in connection with the Summary Judgment and Forbearance Agreement described in Note 11. Also included is accrued interest receivable of $85,156 recorded for interest granted on the balance due from Digi-data through May 2014. The entire balance including accrued interest totaling $655,746 was repaid to the Company by Digi-data in the year ended December 31, 2014

Note_3_Summary_of_Significant_1

Note 3 - Summary of Significant Accounting Policies: Principles of Consolidation (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Principles of Consolidation
	Principles of Consolidation

	The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Gotham Innovation Lab, Inc. All intercompany accounts and transactions have been eliminated.

Note_3_Summary_of_Significant_2

Note 3 - Summary of Significant Accounting Policies: Use of Estimates in The Preparation of Financial Statements (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Use of Estimates in The Preparation of Financial Statements

	Use of Estimates in the Preparation of Financial Statements

	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.

Note_3_Summary_of_Significant_3

Note 3 - Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Fair Value of Financial Instruments
	Fair Value of Financial Instruments

	For certain of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and amounts due to related parties, the carrying amounts approximate fair value due to their short maturities. Additionally, there are no assets or liabilities for which fair value is remeasured on a recurring basis.

Note_3_Summary_of_Significant_4

Note 3 - Summary of Significant Accounting Policies: Revenue Recognition (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Revenue Recognition

	Revenue Recognition

	The Company’s revenues are derived primarily from the sale of products and services rendered to real estate brokers. The Company recognizes revenues when the services or products have been provided or delivered, the fees charged are fixed or determinable, the Company and its customers understand the specific nature and terms of the agreed upon transactions, and collectability is reasonably assured.

Note_3_Summary_of_Significant_5

Note 3 - Summary of Significant Accounting Policies: Advertising Costs (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Advertising Costs

	Advertising Costs

	The Company expenses advertising costs as incurred. Advertising costs for the years ended December 31, 2014 and 2013 were $3,543 and $5,786, respectively.

Note_3_Summary_of_Significant_6

Note 3 - Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Cash and Cash Equivalents
	Cash and Cash Equivalents

	For purposes of reporting cash flows, cash and cash equivalents include checking and money market accounts and any highly liquid debt instruments purchased with a maturity of three months or less.

Note_3_Summary_of_Significant_7

Note 3 - Summary of Significant Accounting Policies: Property and Equipment and Depreciation (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Property and Equipment and Depreciation

	Property and equipment and depreciation


	Property and equipment are stated at cost. Depreciation for both financial reporting and income tax purposes is computed using combinations of the straight line and accelerated methods over the estimated lives of the respective assets. Computer equipment is depreciated over 5 years and furniture and fixtures are depreciated over 7 years. Maintenance and repairs are charged to expense when incurred. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts and any gain or loss is credited or charged to income.

	Depreciation expense of $4,766 and $6,694was charged to operations for the years ended December 31, 2014 and 2013, respectively.

Note_3_Summary_of_Significant_8

Note 3 - Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2014
Policies
Recent Accounting Pronouncements
	Recent Accounting Pronouncements

	FASB ASC 606 ASU 2014-09 - Revenue from contracts with customers:

	In May 2014, the FASB issued amended guidance on contracts with customers to transfer goods or services or contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). The guidance requires an entity to recognize revenue on contracts with customers to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires that an entity depict the consideration by applying the following steps:

	Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price.
	Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

	The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. This amendment is to be either retrospectively adopted to each prior reporting period presented or retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. Adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements.


	FASB ASC 718 ASU 2014-12 – Compensation – Stock Compensation:

	In June 2014, the FASB issued ASU No. 2014-12, "Compensation – Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could be Achieved after the Requisite Service Period," ("ASU 2014-12"). The amendments in ASU 2014-12 require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in ASC Topic No. 718, "Compensation -Stock Compensation" as it relates to awards with performance conditions that affect vesting to account for such awards. The amendments in ASU 2014-12 are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted. Entities may apply the amendments in ASU 2014-12 either: (a) prospectively to all awards granted or modified after the effective date; or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The Company does not anticipate that the adoption of

	ASU 2014-12 will have a material impact on its consolidated financial statements.

Note_5stock_Based_Compensation1

Note 5-stock Based Compensation: Options (Policies)	12 Months Ended
Note 5-stock Based Compensation: Options (Policies)	Dec. 31, 2014
Policies
Options
	Options

	In 2006, the Company adopted the 2006 Long-Term Incentive Plan (the "2006 Plan"). Awards granted under the 2006 Plan have a ten-year term and may be incentive stock options, non-qualified stock options or warrants. The awards are granted at an exercise price equal to the fair market value on the date of grant and generally vest over a three or four year period. The Plan expired on December 31, 2009, therefore as of December 31, 2014, there was no unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the 2006 plan.

	The 2006 Plan provided for the granting of options to purchase up to 10,000,000 shares of common stock. 8,146,900 options have been issued under the plan to date of which 7,157,038 have been exercised and 692,962 have expired to date. There were 296,900 options outstanding under the 2006 Plan on its expiration date of December 31, 2009. All options issued subsequent to this date were not issued pursuant to any plan.

	Stock option activity during the years ended December 31, 2014 and 2013 follows:

										Weighted
										Average
								Weighted		Remaining
							Average			Contractual
				Weighted
				Average
		Options		Exercise Price			Grant-Date			Life (Years)
		Outstanding		Exercise Price			Fair Value			Life (Years)
	Options outstanding at December 31, 2012		1,268,900	$	0.08		$		0.1	6.16
	Expired		-600,000		0.1				0.06
	Options outstanding at December 31, 2013		668,900		0.06				0.1	4.69
	Options granted		850,000		0.04				0.1
	Options outstanding at December 31, 2014		1,518,900	$	0.03		$		0.1	4.76

	Options outstanding at December 31, 2014 consist of:

	Date		Number	Number		Exercise		Expiration
	Issued		Outstanding	Exercisable		Price		Date
	1-May-06		100,000	100,000		$0.01		1-May-16
	1-May-06		100,000	100,000		$0.01		1-May-16
	1-May-06		50,000	50,000		$0.01		1-May-16
	1-May-06		46.9	46,900		$0.01		1-May-16
	9-Jun-14		213,000	213,000		$0.03		9-Jun-24
	9-Jun-14		159,000	159,000		$0.03		9-Jun-24
	9-Jun-14		600,000	600,000		$0.03		9-Jun-24
	6-Jun-14		250,000	250,000		$0.05		6-Jun-19
	Total		1,518,900	1,518,900

Note_5stock_Based_Compensation2

Note 5-stock Based Compensation: Warrants (Policies)	12 Months Ended
Note 5-stock Based Compensation: Warrants (Policies)	Dec. 31, 2014
Policies
Warrants

	Warrants

	In addition to our 2006 Long Term Incentive Plan, we have issued an outstanding compensatory warrants to two consultants entitling the holders to purchase a total of 275,000 shares of our common stock at an average exercise price of $0.94 per share. Warrants to purchase 25,000 shares of common stock vest upon six months after the Company engages in an IPO, have an exercise price of $3.00 per share, and expire two years after the Company engages in an IPO. Warrants to purchase 250,000 shares of common stock vest 100,000 shares on issuance (June 1, 2009), and 50,000 shares on each of the following three anniversaries of the date of issuance, have exercise prices ranging from $0.50 per share to $1.15 per share, and expire on June 1, 2019. The issuance of the compensatory warrants was not submitted to our shareholders for their approval.

	Warrant activity during the years ended December 31, 2014 and 2013 follows:

								Weighted			(1)Weighted
				Weighted			Average Grant-Date				Average Remaining
		Warrants		Average Exercise Price			Fair Value				Contractual Life (Years)
		Outstanding		Average Exercise Price			Fair Value				Contractual Life (Years)
	Warrants outstanding at December 31, 2012		275,000	$	0.94				$	0.1	6.42
	No warrant activity		--		--					--
	Warrants outstanding at December 31, 2013		275,000	$	0.94				$	0.1	5.42
	No warrant activity		--		--					--
	Warrants outstanding at December 31, 2014		275,000	$	0.94				$	0.1	4.42


	(1) Exclusive of 25,000 warrants expiring two years after initial IPO.

	Warrants outstanding at December 31, 2014 consist of:

	Date		Number	Number		Exercise		Expiration
	Issued		Outstanding	Exercisable		Price		Date
	1-Apr-00		25,000	25,000		$3.00		2 years after IPO
	1-Jun-09		100,000	100,000		$0.50		1-Jun-19
	1-Jun-09		50,000	50,000		$0.65		1-Jun-19
	1-Jun-09		50,000	50,000		$0.85		1-Jun-19
	1-Jun-09		50,000	50,000		$1.15		1-Jun-19
	Total		275,000	275,000

Lease_Commitment_Policies

Lease Commitment (Policies)	12 Months Ended
Lease Commitment (Policies)	Dec. 31, 2014
Policies
Lease Commitment
	Lease Commitment

	On February 1, 2012, iGambit entered into a 5 year lease for new executive office space in Smithtown, New York commencing on March 1, 2012 at a monthly rent of $1,500 with 2% annual increases.

	Gotham has a month to month license agreement for office space that commenced on August 2, 2012 at a monthly license fee of $4,025. The license agreement may be terminated upon 30 days notice.

	Total future minimum annual lease payments under the lease for the years ending December 31 are as follows:

	2015 $ 19,080
	2016 19,440
	2017 3,240
	$ 41,760

	Rent expense of $68,564 and $74,988 was charged to operations for the years ended December 31, 2014 and 2013, respectively.

Digidata_Corporation_Policies

Digi-data Corporation (Policies)	12 Months Ended
Digi-data Corporation (Policies)	Dec. 31, 2014
Policies
Digi-data Corporation
	Digi-Data Corporation

	In connection with the asset purchase agreement discussed in Note 2, the Company filed a complaint against Digi-Data on October 1, 2012 for unpaid contingency payments owed to the Company totaling $570,590 at December 31, 2013, exclusive of an allowance for bad debts of $250,000. On or about December 3, 2012, Digi-Data filed its Answer, Affirmative Defenses and Counterclaim against the Company. The Counterclaim seeks damages against the Company for breach of the Agreement for the alleged failure to indemnify Digi-Data for expenses related to pending litigation between Verizon Communications, Inc. (one of Digi-Data's customers) and an unrelated third party, Titanide Ventures, LLC, concerning alleged patent violations (hereinafter "Verizon Patent Litigation"). The Verizon Patent Litigation is a result of a "patent troll" whereby Titanide seeks to extract settlement funds from alleged patent infringers without seeking actual adjudication of its purported patent rights. The Company has advised Digi-Data of what it believes is "prior act" related to the subject intellectual property that is at-issue in the Verizon Patent Litigation, a possible defense to the claims by Titanide. A pre-trial order was issued by the Court with detailed deadlines regarding among other items, discovery cut-off and status report deadline date of April 29, 2013 and dispositive motions deadline date of May 28, 2013. The Company propounded its initial discovery upon Digi-Data, responses to which were due on or about March 8, 2013. On April 4, 2013, Digi-Data provided discovery to the Company. No depositions have been scheduled as of the date of this report, nor has the Company received any information from Digi-data regarding any specific quantified “damages” directly resulting from this Order or the settlement agreement between Verizon and the Plaintiff. On April 4, 2013, an Order of Dismissal in the Verizon Patent Litigation was filed. The Dismissal is with prejudice with each party to bear its own costs and fees. On May 24, 2013, the Company filed a Motion for Summary Judgment with the Court asking the Court to move in its favor against DDC for the entire outstanding balance due along with attorney’s fees and post and pre-judgment interest as applicable under Maryland Law. On June 11, 2013, Digi-Data filed its Response to the Motion for Summary Judgment and, for the first time, purported to liquidate certain alleged damages for which Digi-Data seeks a set-off against the amounts admittedly owed by Digi-Data to iGambit and alludes the existence of additional although not yet quantified damages. The Response relies entirely upon the Affidavit of a Vice President of Digi-Data for its evidentiary support. Notwithstanding, Digi-Data failed to produce documentary support for its alleged damages and to explain why it failed to disclose such information during the discovery period or thereafter.

	On July 9, 2013, the Company filed its Reply to Digi-Data’s Response and, thereby, advised the Court of Digi-Data’s apparent litigation-by-ambush tactic such as withholding allegations of damages until the end of discovery and attempting to use such previously withheld information to defeat summary judgment, and the legal inadequacy of same. Pursuant to the Maryland District Court’s Local Rules, Digi-Data is not authorized to file a Surreply without Court order.

	On December 13, 2013 the Court Granted Summary Judgment in iGambit’s favor against Digi-Data in the amount of $570,590, plus interest at the Maryland legal rate of 6% per annum from August 31, 2012, and post judgment interest at the Federal statutory
	Rate. Furthermore, Digi-Data’s Counterclaim was dismissed.

	On February 24, 2014 the Company entered into a Forbearance Agreement with Digi-Data pursuant to which Digi-Data shall pay to iGambit Six Hundred Forty-Six Thousand, Six Hundred Sixty-Eight Dollars and Sixty-Seven Cents ($646,668.67) (the “Settlement Amount”) in full satisfaction of the Judgment.

	Initial Payment: Digi-Data shall pay the Settlement Amount by delivering Twenty-Five Thousand Dollars and No Cents ($25,000.00) to iGambit upon the execution of this Agreement (“Initial Payment”), and delivering the remaining Six Hundred Twenty-One Thousand, Six Hundred Sixty-Eight Dollars and Sixty-Seven Cents ($621,668.67), plus interest at a rate of 6% per annum (calculated at Actual/360) (the “Remaining Balance”) to iGambit.

	Monthly Payments: Commencing thirty (30) calendar days after the Effective Date, and continuing for the three following months, Digi-Data shall make monthly payments of Twelve Thousand, Five Hundred Dollars and No Cents ($12,500.00) to iGambit (each, an “Initial Monthly Payment”). Thirty (30) calendar days after the fourth Initial Monthly Payment is made, Digi-Data shall commence making a monthly payment of Twenty-Five Thousand Dollars and No Cents ($25,000.00) to iGambit until the Remaining Balance is paid in full (each, a “Subsequent Monthly Payment”). Such Initial Monthly Payments and Subsequent Monthly Payments shall be credited to payment of the Settlement Amount and Remaining Balance, with payment being first applied to accrued and/or outstanding interests, then to principal.

	Line of Credit Payments: In the event that Digi-Data obtains a new line of credit subsequent to the Effective Date under terms acceptable to Digi-Data in the amount of Three Million Dollars and No Cents ($3,000,000.00) or greater it shall, within fifteen (15) calendar days upon obtaining such funding, pay the full Remaining Balance to iGambit (the “LOC Payment”). In the event that Digi-Data obtains a new line of credit subsequent to the Effective Date under terms acceptable to Digi-Data for any amount less than Three Million Dollars and No Cents ($3,000,000.00) that is secured by its receivables it shall, within fifteen (15) calendar days of obtaining such funding, pay Twenty-Five Thousand Dollars and No Cents ($25,000.00) to iGambit (the “Receivables Payment”). Such Receivables Payment shall be credited to payment of the Settlement Amount and Remaining Balance, with payment being first applied to accrued and/or outstanding interests, then to principal.

	Digi-Data Sale: In the event of a Digi-Data Sale, iGambit shall be paid the Remaining Balance at closing of any such Digi-Data Sale as provided in paragraph 2, below. iGambit acknowledges that, if the Digi-Data Sale is a sale or sales of the Digi-Data Assets, there may be insufficient proceeds to pay the Remaining Balance in full. If the Digi-Data Sale is a sale or sales of the stock of Digi-Data and there are insufficient proceeds at closing to pay the Remaining Balance in full, iGambit shall continue to receive the Subsequent Monthly Payment until the full Remaining Balance is paid. On May 12, 2014, Digi-Data paid the full balance due on the judgment plus all accrued interest upon the sale of Digi-Data.


	Financial Advisor Contract


	Brooks, Houghton & Company, Inc. (BHC)

	The Company had entered into a contract with BHC in which BHC would provide financial advisory services in connection with the Company’s proposed business combinations and related fund raising transactions. As part of that agreement BHC would be entitled to a “Business Combination Fee” equal to three percent of the amount of the company’s total proceeds and other consideration paid or to be paid for the assets acquired, inclusive of equity or any debt issued; however the fee was to be no less than $300,000. As a result of the IGX transaction, as described in Note 15, BHC initially felt entitled to $300,000. The Company has taken a position that since the transaction has been rescinded, that the fee has not been earned and thus not to be paid. While the ultimate outcome of this matter is not presently determinable, it is the opinion of management that the resolution of any outstanding claim will not have a material adverse effect on the financial position or results of operations of the Company.

Note_4_Earnings_Per_Common_Sha1

Note 4 - Earnings Per Common Share: Schedule of Earnings Per Share, Basic and Diluted (Tables)