Tucows (TCX) 10-Q 10 May 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 05, 2017
Document Information [Line Items]
Entity Registrant Name	TUCOWS INC /PA/
Entity Central Index Key	909,494
Trading Symbol	tcx
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		10,509,635
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 15,032,821	$ 15,105,075
Accounts receivable, net of allowance for doubtful accounts of $164,735 as of March 31, 2017 and $164,145 as of December 31, 2016	13,354,774	10,925,622
Inventory	1,039,793	1,210,789
Prepaid expenses and deposits	16,101,078	6,250,555
Derivative instrument asset, current portion (note 4)	356,525	172,888
Prepaid domain name registry and ancillary services fees, current portion	112,060,197	49,396,737
Income taxes recoverable	2,874,532	220,451
Total current assets	160,819,720	83,282,117
Prepaid domain name registry and ancillary services fees, long-term portion	24,463,113	10,993,156
Property and equipment	18,403,439	13,450,438
Deferred tax asset		881,533
Intangible assets (note 5)	62,503,033	19,973,793
Goodwill (note 5)	85,526,787	21,005,143
Total assets	351,716,092	149,586,180
Current liabilities:
Accounts payable	7,246,007	4,786,645
Accrued liabilities	9,518,273	7,098,905
Customer deposits	14,056,627	5,418,622
Deferred rent, current portion	20,854	20,854
Loan payable (note 6)	18,289,853	2,233,110
Deferred revenue, current portion	134,459,471	62,795,079
Accreditation fees payable, current portion	1,293,276	528,027
Income taxes payable	777,971	1,548,121
Total current liabilities	185,662,332	84,429,363
Deferred revenue, long-term portion	31,429,228	15,053,977
Accreditation fees payable, long-term portion	258,560	115,084
Deferred rent, long-term portion	128,234	124,202
Loan payable, long-term portion (note 6)	72,174,607	8,015,698
Deferred gain	815,860	944,680
Deferred tax liability	20,166,540
Redeemable non-controlling interest (note 8 (a))	1,098,589	3,086,090
Stockholders' equity (note 12)
Preferred stock - no par value, 1,250,000 shares authorized; none issued and outstanding	0	0
Common stock - no par value, 250,000,000 shares authorized;10,504,152 shares issued and outstanding as of March 31, 2017 and 10,461,574 shares issued and outstanding as of December 31, 2016	14,783,156	14,460,500
Additional paid-in capital	2,160,720	2,857,921
Retained earnings	22,833,503	20,399,511
Accumulated other comprehensive income (loss)	204,763	99,154
Total stockholders' equity	39,982,142	37,817,086
Total liabilities and stockholders' equity	351,716,092	149,586,180
Commitments and contingencies (note 11)

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands	Mar. 31, 2017	Dec. 31, 2016
Allowance for doubtful accounts	$ 164,735	$ 164,145
Preferred stock, shares authorized (in shares)	1,250,000	1,250,000
Preferred stock - shares issued (in shares)	0	0
Preferred stock - shares outstanding (in shares)	0	0
Preferred stock - no par value (in dollars per share)	$ 0	$ 0
Common stock shares authorized (in shares)	250,000,000	250,000,000
Common stock shares issued (in shares)	10,504,152	10,461,574
Common stock shares outstanding (in shares)	10,504,152	10,461,574
Common stock - no par value (in dollars per share)	$ 0	$ 0

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net revenues (note 10)	$ 69,568,062	$ 44,746,089
Cost of revenues (note 10)
Cost of revenues	49,310,712	28,806,717
Network expenses	2,343,196	1,232,931
Depreciation of property and equipment	590,347	346,753
Amortization of intangible assets (note 5)	380,162	11,532
Total cost of revenues	52,624,417	30,397,933
Gross profit	16,943,645	14,348,156
Expenses:
Sales and marketing	7,219,322	4,465,056
Technical operations and development	1,694,141	1,176,360
General and administrative	3,457,343	2,404,927
Depreciation of property and equipment	166,317	73,268
Amortization of intangible assets (note 5)	1,380,809	56,997
Impairment of indefinite life intangible asset		20,985
Loss (gain) on currency forward contracts (note 4)	(34,425)	(110,757)
Total expenses	13,883,507	8,086,836
Income from operations	3,060,138	6,261,320
Other income (expense):
Interest expense, net	(867,993)	(46,172)
Other income, net	128,897	128,820
Total other income (expense)	(739,096)	82,648
Income before provision for income taxes	2,321,042	6,343,968
Provision for (recovery of) income taxes (note 7)	(125,449)	1,905,730
Net income before redeemable non-controlling interest	2,446,491	4,438,238
Redeemable non-controlling interest (note 8)	(125,764)	(170,792)
Net loss attributable to redeemable non-controlling interest	125,764	170,792
Net income for the period	2,446,491	4,438,238
Other comprehensive income (loss), net of tax
Unrealized income (loss) on hedging activities (note 4)	186,229	547,963
Net amount reclassified to earnings (note 4)	(80,620)	335,557
Other comprehensive income (loss) net of tax of $60,079 and $483,704 for the three months ended March 31, 2017 and March 31, 2016 (note 4)	105,609	883,520
Comprehensive income for the period	$ 2,552,100	$ 5,321,758
Basic earnings per common share (note 9) (in dollars per share)	$ 0.23	$ 0.42
Shares used in computing basic earnings per common share (note 9) (in shares)	10,474,647	10,674,036
Diluted earnings per common share (note 9) (in dollars per share)	$ 0.23	$ 0.41
Shares used in computing diluted earnings per common share (note 9) (in shares)	10,776,515	10,861,582

Consolidated Statements of Ope5

Consolidated Statements of Operations and Comprehensive Income (Unaudited) (Parentheticals) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other comprehensive income (loss), tax	$ 60,079	$ 483,704

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities:
Net income for the period	$ 2,446,491	$ 4,438,238
Items not involving cash:
Depreciation of property and equipment	756,664	420,021
Amortization of debt discount and issuance costs	67,105
Amortization of intangible assets	1,760,971	68,529
Impairment of indefinite life intangible asset		20,985
Deferred income taxes	1,319,819	273,159
Excess tax benefits on share-based compensation expense	(989,332)	61,360
Amortization of deferred rent	4,032	11,915
Loss on disposal of domain names	9,789	8,220
Other income	(128,820)	(128,820)
Loss (gain) on change in the fair value of forward contracts	(138,107)	(243,042)
Stock-based compensation	317,820	200,228
Change in non-cash operating working capital:
Accounts receivable	41,721	(890,510)
Inventory	170,996	(239,087)
Prepaid expenses and deposits	(3,557,508)	(252,924)
Prepaid domain name registry and ancillary services fees	(5,489,422)	(797,920)
Income taxes recoverable	(2,660,528)	1,226,454
Accounts payable	(3,446,427)	549,796
Accrued liabilities	1,830,922	(451,246)
Customer deposits	(83,591)	(179,923)
Deferred revenue	10,240,649	1,508,582
Accreditation fees payable	(71,327)	10,619
Net cash provided by operating activities	2,401,917	5,614,634
Financing activities:
Proceeds received on exercise of stock options	19,869	19,558
Payment of tax obligations resulting from net exercise of stock options	(712,234)	(36,685)
Repurchase of common stock		(2,180,279)
Proceeds received on loan payable	86,998,000	6,000,000
Repayment of loan payable	(6,258,278)	(218,750)
Payment of loan payable costs	(591,175)
Net cash used in financing activities	79,456,182	3,583,844
Investing activities:
Additions to property and equipment	(3,692,893)	(856,336)
Acquisition of a portion of the minority interest in Ting Virginia, LLC.	(2,000,000)
Acquisition of Enom Incorporated, net of cash	(76,237,460)
Acquisition of intangible assets		(6,054,546)
Net cash used in investing activities	(81,930,353)	(6,910,882)
Increase (decrease) in cash and cash equivalents	(72,254)	2,287,596
Cash and cash equivalents, beginning of period	15,105,075	7,723,253
Cash and cash equivalents, end of period	15,032,821	10,010,849
Supplemental cash flow information:
Interest paid	872,645	46,381
Income taxes paid, net	2,342,916	329,169
Supplementary disclosure of non-cash investing and financing activities:
Property and equipment acquired during the period not yet paid for	$ 250,847	$ 11,338

Note 1 - Organization of the Co

Note 1 - Organization of the Company	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Tucows Inc., a Pennsylvania corporation (referred to throughout this report as the “Company”, “Tucows”, “we”, “us” or through similar expressions), together with our consolidated subsidiaries, is a provider of Network Access Services and Domain Services. Our Network Access Services includes mobile, fixed high-speed Internet access services, Internet hosting and network consulting services, with mobile and high-speed Internet operating under our Ting brand. Our Domain services include wholesale and retail domain name registration services, value added services and portfolio services derived through our OpenSRS, eNom, Hover and YummyNames brands. Our principal executive office is located in Toronto, Ontario and we have other offices in the Netherlands, Germany and the United States. Our common stock is listed on NASDAQ under the symbol “TCX” and on the Toronto Stock Exchange under the s ymbol “TC”. On January 20, 2017, completed the purchase of all of the issued and outstanding capital stock of eNom, Incorporated (“eNom”) from Rightside Group. Ltd, a domain name registrar business. See note 8(b)

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Basis of Accounting [Text Block]	2. The accompanying unaudited interim consolidated balance sheets, and the related consolidated statements of operations and comprehensive income and cash flows reflect all adjustments, consisting of normal recurring adjustments, that are, in the opinion of management, necessary for a fair presentation of the financial position of Tucows and its subsidiaries as at March 31, 2017 March 31, 2017 2016. 10 may The accompanying unaudited interim consolidated financial statements have been prepared by Tucows in accordance with the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in the Company's annual audited consolidated financial statements and accompanying notes have been condensed or omitted. These interim consolidated financial statements and accompanying notes follow the same accounting policies and methods of application used in the annual financial statements and should be read in conjunction with the Company's audited consolidated financial statements and notes thereto for the year ended December 31, 2016 2016 10 March 8, 2017. During the quarter ended March 31, 2016, $0.9 three March 31, 2016. There have been no material changes to our significant acco unting policies and estimates during the three March 31, 2017 10 December 31, 2016, 2016 09, Stock Compensation (Topic 718 ). 3

Note 3 - Recent Accounting Pron

Note 3 - Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	3. Recent Accounting Pronouncements Adopted On January 1, 201 7, 2016 05, Derivatives and Hedging (Topic 815 2015 16, Simplifying the Accounting for Measurement-Period Adjustments. In January 2017, 2017 04, Intangibles – Goodwill and Other (Topic 350): 2017 01”), two second one December 31, 2017. On January 1, 2017, 2016 09, Stock Compensation (Topic 718) 2016 09 ● Accounting for Income Taxes – the standard requires that all excess tax benefits and tax deficiencies related to employee share-based payments are recognized through income tax expense on a prospective basis, which resulted in the recognition of $1.0 ended March 31, 2017; ● Cash Flow Classification – as a result of the new standard, all excess tax benefits related to employee share based payments which have been historically shown as a financing activity, should now be presented as an operating activity along with other income tax cash flows. Additionally, the standard requires that cash paid by an employer when directly withholding shares for tax-withholding purposes should be classified as a financing activity. The Company elected to apply both changes on a retrospective basis such that the comparative period is presented on a consistent basis as the current presentation; and ● Forfeitures – the standard allows for an entity-wide accounting policy election to either estimate the number of awards that are not expected to vest because the requisite service period will not be rendered, or to account for forfeitures as they occur. Prior to the adoption of 2016 09 March 31, 2017, Recent Accounting Pronouncements Not Yet Adopted In January 2017, 2017 01, Business Combinations (Topic 805): 2017 01"), first second December 15, 2017. 2017 01 In May 2014, FASB issued ASU No. 2014 09, 606) 2014 09"), five (1) (2) (3) (4) (5) December 15, 2017 (January 1, 2018

Note 4 - Derivative Instruments

Note 4 - Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	4 . Derivative instruments and hedging activities: Foreign currency forward contracts In October 2012, , Canadian taxes and payments to Canadian domain name registry suppliers that are denominated in Canadian dollars and are expected to be paid by its Canadian operating subsidiary. As part of its risk management strategy, the Company uses derivative instruments to hedge a portion of the foreign exchange risk associated with these costs. The Company does not use forward contracts for trading or speculative purposes. These forward contracts typically mature between one eighteen The Company has designated certain of these transactions as cash flow hedges of forecasted transactions. For certain contracts, as the critical terms of the hedging instrument and the entire hedged forecasted transaction are the same in accordance with ASC Topic 815, of the contracts, as of March 31, 2017, As of March 31, 2017, $20.2 $18.2 (December 31, 2016 $26.6 $24.0 As of March 31, 2017, Maturity date Notional amount of U.S. dollars Weighted average exchange rate of U.S. dollars Fair value April - June 2017 $ 6,461,047 1.3512 $ 113,277 July - September 2017 6,928,942 1.3494 121,356 October - December 2017 6,859,570 1.3478 121,892 $ 20,249,559 1.3494 $ 356,525 Fair value of derivative instruments and effect of derivative instruments on financial performance The effect of these derivative instruments on our consolidated financial stat ements were as follows (amounts presented do not include any income tax effects). Fair value of derivative instruments in the consolidated balance sheets As of March 31, 2017 As of December 31, 2016 Derivatives Balance Sheet Location Fair Value Asset (Liability) Fair Value Asset (Liability) Foreign currency forward contracts designated as cash flow hedges Derivative instruments $ 321,248 $ 155,560 Foreign currency forward contracts not designated as cash flow hedges Derivative instruments $ 35,277 $ 17,328 Total foreign currency forward contracts Derivative instruments $ 356,525 $ 172,888 Movement in Accumulated Other Comprehensive Income ("AOCI") balance for the thre e months ended March 31, 2017 : Gains and losses on cash flow hedges Tax impact Total AOCI Opening AOCI balance – December 31, 2016 $ 155,560 $ (56,406 ) $ 99,154 Other comprehensive income (loss) before reclassifications 292,171 (105,942 ) 186,229 Amount reclassified from accumulated other comprehensive income (126,483 ) 45,863 (80,620 ) Other comprehensive income (loss) for the three months ended March 31, 2017 165,688 (60,079 ) 105,609 Ending AOCI balance – March 31, 2017 $ 321,248 $ (116,485 ) $ 204,763 Effects of derivative instruments on income and other comprehensive income (OCI) for the three March 31, 2017 and March 31, 2016 are as follows: Derivatives in Cash Flow Hedging Relationship Amount of Gain or (Loss) Recognized in OCI, net of tax, on Derivative (Effective Portion) Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income, (Effective Portion) Location of Gain or (Loss) Recognized in Income on Derivative (ineffective Portion and Amount Excluded from Effectiveness Testing) Amount of Gain or (Loss) Recognized in Income on Derivative (ineffective Portion and Amount Excluded from Effectiveness Testing) Operating expenses $ 105,355 Operating expenses $ — Foreign currency forward contracts for the three months ended March 31, 2017 $ 105,609 Cost of revenues $ 21,128 Cost of revenues — Operating expenses $ (372,390 ) Operating expenses $ (47,240 ) Foreign currency forward contracts for the three months ended March 31, 2016 $ 883,520 Cost of revenues $ (106,817 ) Cost of revenues — In addition to the above, for those foreign currency forward contracts not designated as hedges, the Company has recorded a gain of $16,476 $17,949 three March 31, 2017, $0.1 $0.2 three March 31, 2016,

Note 5 - Goodwill and Other Int

Note 5 - Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5 . Goodwill and Other Intangible Assets: Goodwill Goodwill represents the excess of the purchase price over the fair value of tangible and identifiable intangible assets acquired and liabilities assumed in our acquisitions. The Company's Goodwill balance is $85.5 March 31, 2017, $64.5 December 31, 2016, 8(b)). 98% ($83.4 2% ($2.1 Goodwill is not amortized, but is subject to an impairment evaluation annually, or more frequently if impairment indicators are present. Other Intangible Assets: Intangible assets consist of network rights, brand, customer relationships, surname domain names and our portfolio of domain names. As reflected in the table below, these balances are being amortized on a straight-line basis over the life of the intangible assets, except for the surname domain names and direct navigation domain names, which have been determined to have an indefinite life and which are evaluated at least annually for impairment. A summary of acquired intangible assets for the three March 31, 2017 Surname domain names Direct navigation domain names Brand Customer relationships Technology Network rights Total Amortization period indefinite life indefinite life 7 years 4 - 7 years 2 years 15 years Balances December 31, 2016 $ 11,295,221 $ 1,869,088 $ 5,210 $ 6,198,811 $ - $ 605,463 $ 19,973,793 Reclassifications 43,620 (45,509 ) 1,889 - Acquisition of Enom - - 12,400,000 28,000,000 3,900,000 - 44,300,000 Additions to/(disposals from) domain portfolio, net (1,946 ) (7,842 ) - - - - (9,788 ) Amortization expense - - (342,452 ) (1,038,358 ) (368,630 ) (11,532 ) (1,760,972 ) Balances March 31, 2017 $ 11,293,275 $ 1,861,246 $ 12,106,378 $ 33,114,944 $ 3,531,370 $ 595,820 $ 62,503,033 The following table shows the estimated amortization expense in future periods, assuming no further additions to acquired intangible assets are made: Year ending December 31, Remainder of 2017 $ 6,696,261 2018 8,823,908 2019 6,869,230 2020 6,750,360 2021 6,750,360 Thereafter 13,458,394 Total $ 49,348,512 As of March 31, 2017, $8.7 With regard to indefinite life intangible assets, as part of our normal renewal process we assessed that certain domain names that were acquired in the June 2006 renewal should not be renewed. For the three March 31, 2017, three March 31, 2016, $20,985 On January 20, 2017, 7, 2 7 8(b)

Note 6 - Loan Payable

Note 6 - Loan Payable	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	6 . Loan payable: On January 20, 2017, “2017 “Lenders”) under which the Company increased its access to funds to an aggregate of $140 2016 $40.0 $35.5 $84.5 (the “Facility D”). The Company immediately drew down $84.5 8(b)). In connection with the 2017 $591,175 of fees paid to lenders and debt issuance costs, which have been reflected as a reduction to the carrying amount of the loan payable and will be amortized over the term of the credit facility agreement. 201 7 Credit Facility The obligation s of the Company under the 2017 first The 2017 Credit Facility has a four 2017 $140 ● a $5 ● a $15 erm facility (“Facility B”); ● a $ 35.5 ● a $ 84.5 Borrowings under the 201 7 The repayment terms for Facility A require monthly interest payments with any final principal payment becoming due upon maturity of the 2017 December 31st first first four five seven 2017 2.25:1 December 31 50% Borrowings under the 2017 Credit Facility will accrue interest and standby fees based on the Company’s Total Funded Debt to EBITDA ratio and the availment type as follows: If Total Funded Debt to EBITDA is: Availment type or fee Less than 1.00 Greater than or equal to 1.00 and less than 2.00 Greater than or equal to 2.00 and less than 2.25 Greater than or equal to 2.25 Canadian dollar borrowings based on Bankers ’ Acceptance or U.S. dollar borrowings based on LIBOR 2.00% Margin 2.25% Margin 2.75% Margin 3.25% Margin Canadian or U.S. dollar borrowings based on Prime Rate or U.S. dollar borrowings based on Base Rate 0.75% Margin 1.00% Margin 1.50% Margin 2.00% Margin Standby fees 0.40% 0.45% 0.55% 0.65% The following table summarizes the Company’s borrowings under the 2017 March 31, 2017: March 31, 2017 December 31, 2016 Facility B $ - $ 6,000,000 Facility C 6,973,028 4,731,306 Facility D 84,498,000 - Less: unamortized debt discount and issuance costs (1,006,568 ) (482,498 ) Total loan payable 90,464,460 10,248,808 Less: loan payable, current portion 18,289,853 2,233,110 Loan payable, long-term portion $ 72,174,607 $ 8,015,698 The following table summarizes our scheduled principal repayments as of March 31, 2017: Principal repayments Remainder of 2017 $ 13,717,390 2018 18,289,853 2019 18,289,853 2020 18,103,004 2021 17,542,457 Thereafter 5,528,471 $ 91,471,028 Treasury Risk Management Facility The Amended Credit Facility also provides for a $3.5 may exceed 18 March 31, 2017, $20.2 4). General Terms The 2017 2017 four 3.00:1 September 30, 2017, 2.50:1 September 30, 2018 2.25:1 1.20:1. $32.8 $20 $40 1.5 twelve March 31, 2017,

Note 7 - Income Taxes

Note 7 - Income Taxes	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	7 . Income taxes For the three March 31, 2017, $0.1 million on income before income taxes of $2.3 December 31, 2017 2017”) $1.0 2016 09, three March 31, 2016, $1.9 $6.3 2016 In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the years in which those temporary differences become deductible. The Company considers projected future taxable income, uncertainties related to the industry in which we operate, and tax planning strategies in making this assessment. On January 20, 2017, s part of the acquisition, the Company assumed $20.0 8(b)). The Company follows the provisions of FASB ASC Topic 740, two The Company had approximately $0.1 million of total gross unrecognized tax benefit as of March 31, 2017 December 31, 2016, March 31, 2017 December 31, 2016,

Note 8 - Acquisitions

Note 8 - Acquisitions	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Business Combination Disclosure [Text Block]	8 . Acquisitions: (a) Blue Ridge Websoft On February 27, 201 5, one 70% $3.5 On February 1, 2017, 20% from the selling shareholders (the “Minority Shareholders”) for consideration of $2.0 $2.0 10% fourth (February 27, 2019), $120,000 March 31, 2017, $1,098,589 $1,200,000 February 27, 2019. (b) eN om, Incorporated On January 20, 2017, (the “Purchase Agreement”) with its indirect wholly owned subsidiary, Tucows (Emerald), LLC, Rightside Group, Ltd., and Rightside Operating Co., pursuant to which Tucows (Emerald), LLC purchased from Rightside Operating Co. all of the issued and outstanding capital stock of eNom, Incorporated, a domain name registrar business. The acquisition provides Tucows additional scale and efficiency opportunities across its domain registrar operations. The purchase price was $77.8 $83.5 $5.7 2017 6). The Company has prepared a preliminary purchase price allocation of the assets acquired and the liabilities assumed of eNom based on management ’s best estimates of fair value. The final purchase price allocation may The preliminary purchase price allocation is pending the finalization of the fair value of taxation-related balances and for potential adjustments to assets and liabilities. We expect to finalize this determination on or before September 30, 2017. The following table shows the preliminary allocation of the purchase price for eNom to the acquired identifiable assets and liabilities assumed: Goodwill $ 64,521,645 Cash 1,594,217 Brand 12,400,000 Developed technology 3,900,000 Customer relationships 28,000,000 Prepaid domain registry fees 70,643,994 Other assets 10,170,789 Total assets 191,230,645 Deferred Revenue (77,798,994 ) Deferred Tax Liabilities (20,011,945 ) Other liabilities (15,588,029 ) Total liabilities (113,398,968 ) Preliminary consideration paid $ 77,831,677 As required by ASC 805, The good will related to this acquisition is primarily attributable to synergies expected to arise from the acquisition and is not tax deductible for tax purposes. In connection with this acquisition, the Company incurred total acquisition related costs of $0.8 $0.4 included in General & Administrative expenses in the Consolidated Statements of Operations for the three March 31, 2017. The following table presents selected unaudited pro forma information for the Company assuming the acquisition of eNom had occurred as of January 1, 2016. ’s actual results would have been if the acquisition had occurred as of the date indicated or what results would be for any future periods. Unaudited Three months ended March 31, 2017 2016 Net revenues $ 74,030,284 $ 81,984,690 Net income 2,074,318 613,507 Basic earnings per common share 0.20 0.06 Diluted earnings per common share $ 0.19 $ 0.06

Note 9 - Basic and Diluted Earn

Note 9 - Basic and Diluted Earnings Per Common Share	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	9 . Basic and diluted earnings per common share: Basic earnings per common share has been calculated by dividing net income for the period by the weighted average number of common shares outstanding during each period. Diluted earnings per share has been calculated by dividing net income for the period by the weighted average number of common shares and potentially dilutive common shares outstanding during the period. In computing diluted earnings per share, the treasury stock method is used to determine the number of shares assumed to be purchased from the conversion of common share equivalents or the proceeds of option exercises. The following table is a summary of the basic and diluted earnings per common share: Three months ended March 31, 2017 2016 Numerator for basic and diluted earnings per common share: Net income for the period $ 2,446,491 $ 4,438,238 Denominator for basic and diluted earnings per scommon share: Basic weighted average number of common shares outstanding 10,474,647 10,674,036 Effect of outstanding stock options 301,868 187,546 Diluted weighted average number of shares outstanding 10,776,515 10,861,582 Basic earnings per common share $ 0.23 $ 0.42 Diluted earnings per common share $ 0.23 $ 0.41 For the three March 31, 2017, 28,500 (March 31, 2016 130,475). During the three March 31, 2017, no March 2017 (March 31, 2016 98,178)

Note 10 - Segment Reporting

Note 10 - Segment Reporting	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 0 . Segment reporting: (a) We are organized and managed based on two 1. Network Access Services - This segment derives revenue from the sale of mobile phones, telephony services high speed Internet access, Internet hosting and consulting services to individuals and small businesses primarily through the Ting website. Revenues are generated in the United States. 2. Domain Services – This segment includes wholesale and retail domain name registration services, value added services and portfolio services. The Company primarily earns revenues from the registration fees charged to resellers in connection with new, renewed and transferred domain name registrations; the sale of retail Internet domain name registration and email services to individuals and small businesses; and by making its portfolio of domain names available for sale or lease. Domain Services revenues are attributed to the country in which the contract originates, primarily Canada and the United States. The Chief Executive Officer is the chief operating decision maker and regularly reviews the operations and performance by segment. The chief operating decision maker reviews gross profit as a key measure of performance for each segment and to make decisions about the allocation of resources. Sales and marketing expenses, technical operations and development expenses, general and administrative expenses, depreciation of property and equipment, amortization of intangibles assets, impairment of indefinite life intangible assets, loss on currency forward contracts, other income (expense), and provision for income taxes, are organized along functional lines and are not included in the measurement of segment profitability. Total assets and total liabilities are centrally managed and are not reviewed at the segment level by the chief operating decision maker. The Company follows the same significant accounting policies and estimates for the segments as described in our Annual Report on Form 10 December 31, 2016. Information by operating segments, which is regularly reported to the chief operating decision maker is as follows: Network Access Domain Name Services Consolidated Totals Three months ended March 31, 2017 Net Revenues $ 19,100,862 $ 50,467,200 $ 69,568,062 Cost of revenues Cost of revenues 10,410,397 38,900,315 49,310,712 Network expenses 541,963 1,801,233 2,343,196 Depreciation of property and equipment 426,078 164,269 590,347 Amortization of intangible assets 11,532 368,630 380,162 Total cost of revenues 11,389,970 41,234,447 52,624,417 Gross Profit 7,710,892 9,232,753 16,943,645 Expenses: Sales and marketing 7,219,322 Technical operations and development 1,694,141 General and administrative 3,457,343 Depreciation of property and equipment 166,317 Amortization of intangible assets 1,380,809 Impairment of indefinite life intangible assets - Gain on currency forward contracts (34,425 ) Income from operations 3,060,138 Other income (expenses), net (739,096 ) Income before provision for income taxes $ 2,321,042 Network Access Domain Name Services Consolidated Totals Three months ended March 31, 2016 Net Revenues $ 16,997,839 $ 27,748,250 $ 44,746,089 Cost of revenues Cost of revenues 8,945,276 19,861,441 28,806,717 Network expenses 214,524 1,018,407 1,232,931 Depreciation of property and equipment 185,680 161,073 346,753 Amortization of intangible assets 11,532 - 11,532 Total cost of revenues 9,357,012 21,040,921 30,397,933 Gross Profit 7,640,827 6,707,329 14,348,156 Expenses: Sales and marketing 4,465,056 Technical operations and development 1,176,360 General and administrative 2,404,927 Depreciation of property and equipment 73,268 Amortization of intangible assets 56,997 Impairment of indefinite life intangible assets 20,985 Gain on currency forward contracts (110,757 ) Income from operations 6,261,320 Other income (expenses), net 82,648 Income before provision for income taxes $ 6,343,968 (b) The following is a summary of the Company’s revenue earned from each significant revenue stream: Three months ended March 31, 2017 2016 Network Access Services: Mobile Services $ 17,962,868 $ 16,107,426 Other Services 1,137,994 890,413 Total Network Access Services 19,100,862 16,997,839 Domain Services: Wholesale Domain Services 39,091,817 21,257,654 Value Added Services 4,056,812 2,299,039 Total Wholesale 43,148,629 23,556,693 Retail 6,401,703 3,450,895 Portfolio 916,868 740,662 Total Domain Services 50,467,200 27,748,250 $ 69,568,062 $ 44,746,089 During the three months ended March 31, 2017 2016, 10% March 31, 2017 December 31, 2016, 10% (c) The following is a summary of the Company’s cost of revenues from each significant revenue stream: Three months ended March 31, 2017 2016 Network Access Services: Mobile Services $ 9,567,160 $ 8,558,435 Other Services 843,237 386,841 Total Network Access Services 10,410,397 8,945,276 Domain Services: Wholesale Domain Services 34,462,927 17,642,586 Value Added Services 557,941 479,451 Total Wholesale 35,020,868 18,122,037 Retail 3,617,402 1,578,442 Portfolio 262,045 160,962 Total Domain Services 38,900,315 19,861,441 Network Expenses: Network, other costs 2,343,196 1,232,931 Network, depreciation and amortization costs 970,509 358,285 3,313,705 1,591,216 $ 52,624,417 $ 30,397,933 (d) The following is a summary of the Company’s property and equipment by geographic region: March 31, 2017 December 31, 2016 Canada $ 1,095,863 $ 1,010,427 United States 17,271,569 12,398,961 Germany 36,007 41,050 $ 18,403,439 $ 13,450,438 (e) The following is a summary of the Company’s amortizable intangible assets by geographic region: March 31, 2017 December 31, 2016 Canada $ 5,617,394 $ 5,850,596 United States 43,457,359 633,798 Germany 273,760 325,090 $ 49,348,513 $ 6,809,484 (f) The following is a summary of the Company’s deferred tax asset by geographic region: March 31, 2017 December 31, 2016 Canada $ - $ 5,708,725 $ - $ 5,708,725 (g) Valuation and qualifying accounts: Allowance for doubtful accounts excluding provision for credit notes Balance at beginning of period Charged to (recovered) costs and expenses Write-offs during period Balance at end of period Three months ended March 31, 2017 $ 164,145 $ 590 $ - $ 164,735 Year ended December 31, 2016 $ 122,095 $ 42,050 $ - $ 164,145

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 1 . Commitments and contingencies: The Company is involved in various legal claims and lawsuits in connection with its ordinary business operations. The Company intends to vigorously defend these claims. While the final outcome with respect to any actions or claims outstanding or pending as of March 31, 2017

Note 12 - Stockholders' Equity

Note 12 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	1 2 . Stockholders’ Equity: The fo llowing unaudited table summarizes stockholders' equity transactions for the three March 31, 2017: Accumulated Additional Retained other Total Common stock paid in earnings comprehensive stockholders' Number Amount capital (deficit) income (loss) equity Balances, December 31, 2016 10,461,574 $ 14,460,500 $ 2,857,921 $ 20,399,511 $ 99,154 $ 37,817,086 Exercise of stock options 68,876 322,656 (302,787 ) - - 19,869 Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration (26,298 ) - (712,234 ) - - (712,234 ) Income tax effect related to stock options exercised - - - - - - Stock-based compensation (note 14) - - 317,820 - - 317,820 Net income - - - 2,446,491 - 2,446,491 Accretion of redeemable non-controlling interest in Ting Virginia, LLC. - - - (12,499 ) - (12,499 ) Other comprehensive income (loss) - - - - 105,609 105,609 Balances, March 31, 2017 10,504,152 $ 14,783,156 $ 2,160,720 $ 22,833,503 $ 204,763 $ 39,982,142 On March 1, 2017, $40 March 1, 2017 February 28, 2018. three March 31, 2017, not On February 9, 2016, $40 February 10, 2016 February 9, 2017. 98,718 three March 31, 2016 $2.2 On February 11, 2015, $20 ced on February 16, 2015 February 9, 2016. not three March 31, 2016.

Note 13 - Share-based Payments

Note 13 - Share-based Payments	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	1 3 . Share-based payments (a) Stock options The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model, consistent with the guidance on stock compensation. Because option-pricing models require the use of subjective assumptions, changes in these assumptions can materially affect the fair value of the options. The assumptions presented in the table below represent the weighted average of the applicable assumption used to value stock options at their grant date. The Company calculates expected volatility based on historical volatility of the Company's common shares. The expected term, which represents the period of time that options granted are expected to be outstanding, is estimated based on historical exercise experience. The Company evaluated historical exercise behavior when determining the expected term assumptions. The risk-free rate assumed in valuing the options is based on the U.S. Treasury yield curve in effect at the time of grant for the expected term of the option. The Company determines the expected dividend yield percentage by dividing the expected annual dividend by the market price of our common shares at the date of grant. Details of stock option transactions for the three March 31, 2017 March 31, 2016 Three months ended March 31, 2017 Three months ended March 31, 2016 Number of shares Weighted average exercise price per share Number of shares Weighted average e xercise price per share Outstanding, beginning of period 474,501 $ 12.67 513,366 $ 9.24 Granted 32,875 40.56 55,000 20.89 Exercised (68,876 ) 7.83 (11,574 ) 4.63 Forfeited (7,889 ) 18.46 (5,401 ) 12.24 Expired - - (750 ) 3.76 Outstanding, end of period 430,611 15.46 550,641 10.48 Options exercisable, end of period 264,753 $ 10.72 311,594 $ 6.54 As of March 31, 2017, Options outstanding Options exercisable Exercise price Number outstanding Weighted average exercise price per share Weighted average remaining contractual life (years) Aggregate intrinsic value Number exercisable Weighted average exercise price per share Weighted average remaining contractual life (years) Aggregate intrinsic value $ 2.80 - $ 8.92 173,473 $ 6.11 1.9 $ 7,796,487 159,554 $ 5.89 1.8 $ 7,205,069 $10.16 - $19.95 140,013 16.26 4.1 4,871,179 77,699 16.01 3.8 2,722,299 $21.10 - $27.53 84,250 23.61 5.0 2,312,190 27,500 23.73 4.2 751,250 $35.25 - $37.35 14,375 35.89 6.2 217,937 - - - - $43.15 - $47.00 18,500 44.19 6.8 126,900 - - - - 430,611 $ 15.46 3.6 $ 15,324,693 264,753 $ 10.72 2.6 $ 10,678,618 Total unrecognized compensation cost relating to unvested stock options at March 31, 2017 $1.6 1.8 The Company recorded stock-based compensation of $0.3 three March 31, 2017 $0.2 three March 31, 2016, The Company has not

Note 14 - Fair Value Measuremen

Note 14 - Fair Value Measurement	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	1 4 . Fair value measurement ASC Topic 820, Fair Value Measurements and Disclosures” three 1 2 3 The following table provides a summary of the fair values of the Company's derivative instrument assets and liabilities measured at fair value on a recurring basis at March 31, 2017: March 31, 2017 Fair Value Measurement Using Assets (Liabilities) Level 1 Level 2 Level 3 at Fair value Derivative instrument asset $ - $ 356,525 $ - $ 356,525 The following table provides a summary of the fair values of the Company's derivative instrument assets measured at fair value on a recurring basis as at December 31, 2016: December 31, 2016 Fair Value Measurement Using Assets (Liabilities) Level 1 Level 2 Level 3 at Fair value Derivative instrument asset $ - $ 172,888 $ - $ 172,888 The carrying values of cash and cash equivalents, accounts receivable, accounts payable, accreditation fees payable, customer deposits, loan payable and accrued liabilities approximate their fair values due to the relatively short periods to maturity of the instruments.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Adopted On January 1, 201 7, 2016 05, Derivatives and Hedging (Topic 815 2015 16, Simplifying the Accounting for Measurement-Period Adjustments. In January 2017, 2017 04, Intangibles – Goodwill and Other (Topic 350): 2017 01”), two second one December 31, 2017. On January 1, 2017, 2016 09, Stock Compensation (Topic 718) 2016 09 ● Accounting for Income Taxes – the standard requires that all excess tax benefits and tax deficiencies related to employee share-based payments are recognized through income tax expense on a prospective basis, which resulted in the recognition of $1.0 ended March 31, 2017; ● Cash Flow Classification – as a result of the new standard, all excess tax benefits related to employee share based payments which have been historically shown as a financing activity, should now be presented as an operating activity along with other income tax cash flows. Additionally, the standard requires that cash paid by an employer when directly withholding shares for tax-withholding purposes should be classified as a financing activity. The Company elected to apply both changes on a retrospective basis such that the comparative period is presented on a consistent basis as the current presentation; and ● Forfeitures – the standard allows for an entity-wide accounting policy election to either estimate the number of awards that are not expected to vest because the requisite service period will not be rendered, or to account for forfeitures as they occur. Prior to the adoption of 2016 09 March 31, 2017, Recent Accounting Pronouncements Not Yet Adopted In January 2017, 2017 01, Business Combinations (Topic 805): 2017 01"), first second December 15, 2017. 2017 01 In May 2014, FASB issued ASU No. 2014 09, 606) 2014 09"), five (1) (2) (3) (4) (5) December 15, 2017 (January 1, 2018

Note 4 - Derivative Instrumen22

Note 4 - Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Derivative Instruments [Table Text Block]	Maturity date Notional amount of U.S. dollars Weighted average exchange rate of U.S. dollars Fair value April - June 2017 $ 6,461,047 1.3512 $ 113,277 July - September 2017 6,928,942 1.3494 121,356 October - December 2017 6,859,570 1.3478 121,892 $ 20,249,559 1.3494 $ 356,525
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	As of March 31, 2017 As of December 31, 2016 Derivatives Balance Sheet Location Fair Value Asset (Liability) Fair Value Asset (Liability) Foreign currency forward contracts designated as cash flow hedges Derivative instruments $ 321,248 $ 155,560 Foreign currency forward contracts not designated as cash flow hedges Derivative instruments $ 35,277 $ 17,328 Total foreign currency forward contracts Derivative instruments $ 356,525 $ 172,888
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Gains and losses on cash flow hedges Tax impact Total AOCI Opening AOCI balance – December 31, 2016 $ 155,560 $ (56,406 ) $ 99,154 Other comprehensive income (loss) before reclassifications 292,171 (105,942 ) 186,229 Amount reclassified from accumulated other comprehensive income (126,483 ) 45,863 (80,620 ) Other comprehensive income (loss) for the three months ended March 31, 2017 165,688 (60,079 ) 105,609 Ending AOCI balance – March 31, 2017 $ 321,248 $ (116,485 ) $ 204,763
Derivative Instruments, Gain (Loss) [Table Text Block]	Derivatives in Cash Flow Hedging Relationship Amount of Gain or (Loss) Recognized in OCI, net of tax, on Derivative (Effective Portion) Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income, (Effective Portion) Location of Gain or (Loss) Recognized in Income on Derivative (ineffective Portion and Amount Excluded from Effectiveness Testing) Amount of Gain or (Loss) Recognized in Income on Derivative (ineffective Portion and Amount Excluded from Effectiveness Testing) Operating expenses $ 105,355 Operating expenses $ — Foreign currency forward contracts for the three months ended March 31, 2017 $ 105,609 Cost of revenues $ 21,128 Cost of revenues — Operating expenses $ (372,390 ) Operating expenses $ (47,240 ) Foreign currency forward contracts for the three months ended March 31, 2016 $ 883,520 Cost of revenues $ (106,817 ) Cost of revenues —

Note 5 - Goodwill and Other I23

Note 5 - Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	Surname domain names Direct navigation domain names Brand Customer relationships Technology Network rights Total Amortization period indefinite life indefinite life 7 years 4 - 7 years 2 years 15 years Balances December 31, 2016 $ 11,295,221 $ 1,869,088 $ 5,210 $ 6,198,811 $ - $ 605,463 $ 19,973,793 Reclassifications 43,620 (45,509 ) 1,889 - Acquisition of Enom - - 12,400,000 28,000,000 3,900,000 - 44,300,000 Additions to/(disposals from) domain portfolio, net (1,946 ) (7,842 ) - - - - (9,788 ) Amortization expense - - (342,452 ) (1,038,358 ) (368,630 ) (11,532 ) (1,760,972 ) Balances March 31, 2017 $ 11,293,275 $ 1,861,246 $ 12,106,378 $ 33,114,944 $ 3,531,370 $ 595,820 $ 62,503,033
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year ending December 31, Remainder of 2017 $ 6,696,261 2018 8,823,908 2019 6,869,230 2020 6,750,360 2021 6,750,360 Thereafter 13,458,394 Total $ 49,348,512

Note 6 - Loan Payable (Tables)

Note 6 - Loan Payable (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Standby Fees Based on Total Funded Debt to EBITDA Ratio [Table Text Block]	If Total Funded Debt to EBITDA is: Availment type or fee Less than 1.00 Greater than or equal to 1.00 and less than 2.00 Greater than or equal to 2.00 and less than 2.25 Greater than or equal to 2.25 Canadian dollar borrowings based on Bankers ’ Acceptance or U.S. dollar borrowings based on LIBOR 2.00% Margin 2.25% Margin 2.75% Margin 3.25% Margin Canadian or U.S. dollar borrowings based on Prime Rate or U.S. dollar borrowings based on Base Rate 0.75% Margin 1.00% Margin 1.50% Margin 2.00% Margin Standby fees 0.40% 0.45% 0.55% 0.65%
Schedule of Debt [Table Text Block]	March 31, 2017 December 31, 2016 Facility B $ - $ 6,000,000 Facility C 6,973,028 4,731,306 Facility D 84,498,000 - Less: unamortized debt discount and issuance costs (1,006,568 ) (482,498 ) Total loan payable 90,464,460 10,248,808 Less: loan payable, current portion 18,289,853 2,233,110 Loan payable, long-term portion $ 72,174,607 $ 8,015,698
Schedule of Maturities of Long-term Debt [Table Text Block]	Principal repayments Remainder of 2017 $ 13,717,390 2018 18,289,853 2019 18,289,853 2020 18,103,004 2021 17,542,457 Thereafter 5,528,471 $ 91,471,028

Note 8 - Acquisitions (Tables)

Note 8 - Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Goodwill $ 64,521,645 Cash 1,594,217 Brand 12,400,000 Developed technology 3,900,000 Customer relationships 28,000,000 Prepaid domain registry fees 70,643,994 Other assets 10,170,789 Total assets 191,230,645 Deferred Revenue (77,798,994 ) Deferred Tax Liabilities (20,011,945 ) Other liabilities (15,588,029 ) Total liabilities (113,398,968 ) Preliminary consideration paid $ 77,831,677
Business Acquisition, Pro Forma Information [Table Text Block]	Unaudited Three months ended March 31, 2017 2016 Net revenues $ 74,030,284 $ 81,984,690 Net income 2,074,318 613,507 Basic earnings per common share 0.20 0.06 Diluted earnings per common share $ 0.19 $ 0.06

Note 9 - Basic and Diluted Ea26

Note 9 - Basic and Diluted Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended March 31, 2017 2016 Numerator for basic and diluted earnings per common share: Net income for the period $ 2,446,491 $ 4,438,238 Denominator for basic and diluted earnings per scommon share: Basic weighted average number of common shares outstanding 10,474,647 10,674,036 Effect of outstanding stock options 301,868 187,546 Diluted weighted average number of shares outstanding 10,776,515 10,861,582 Basic earnings per common share $ 0.23 $ 0.42 Diluted earnings per common share $ 0.23 $ 0.41

Note 10 - Segment Reporting (Ta

Note 10 - Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Condensed Income Statement [Table Text Block]	Network Access Domain Name Services Consolidated Totals Three months ended March 31, 2017 Net Revenues $ 19,100,862 $ 50,467,200 $ 69,568,062 Cost of revenues Cost of revenues 10,410,397 38,900,315 49,310,712 Network expenses 541,963 1,801,233 2,343,196 Depreciation of property and equipment 426,078 164,269 590,347 Amortization of intangible assets 11,532 368,630 380,162 Total cost of revenues 11,389,970 41,234,447 52,624,417 Gross Profit 7,710,892 9,232,753 16,943,645 Expenses: Sales and marketing 7,219,322 Technical operations and development 1,694,141 General and administrative 3,457,343 Depreciation of property and equipment 166,317 Amortization of intangible assets 1,380,809 Impairment of indefinite life intangible assets - Gain on currency forward contracts (34,425 ) Income from operations 3,060,138 Other income (expenses), net (739,096 ) Income before provision for income taxes $ 2,321,042 Network Access Domain Name Services Consolidated Totals Three months ended March 31, 2016 Net Revenues $ 16,997,839 $ 27,748,250 $ 44,746,089 Cost of revenues Cost of revenues 8,945,276 19,861,441 28,806,717 Network expenses 214,524 1,018,407 1,232,931 Depreciation of property and equipment 185,680 161,073 346,753 Amortization of intangible assets 11,532 - 11,532 Total cost of revenues 9,357,012 21,040,921 30,397,933 Gross Profit 7,640,827 6,707,329 14,348,156 Expenses: Sales and marketing 4,465,056 Technical operations and development 1,176,360 General and administrative 2,404,927 Depreciation of property and equipment 73,268 Amortization of intangible assets 56,997 Impairment of indefinite life intangible assets 20,985 Gain on currency forward contracts (110,757 ) Income from operations 6,261,320 Other income (expenses), net 82,648 Income before provision for income taxes $ 6,343,968
Schedule of Operating Income by Revenue Stream [Table Text Block]	Three months ended March 31, 2017 2016 Network Access Services: Mobile Services $ 17,962,868 $ 16,107,426 Other Services 1,137,994 890,413 Total Network Access Services 19,100,862 16,997,839 Domain Services: Wholesale Domain Services 39,091,817 21,257,654 Value Added Services 4,056,812 2,299,039 Total Wholesale 43,148,629 23,556,693 Retail 6,401,703 3,450,895 Portfolio 916,868 740,662 Total Domain Services 50,467,200 27,748,250 $ 69,568,062 $ 44,746,089 Three months ended March 31, 2017 2016 Network Access Services: Mobile Services $ 9,567,160 $ 8,558,435 Other Services 843,237 386,841 Total Network Access Services 10,410,397 8,945,276 Domain Services: Wholesale Domain Services 34,462,927 17,642,586 Value Added Services 557,941 479,451 Total Wholesale 35,020,868 18,122,037 Retail 3,617,402 1,578,442 Portfolio 262,045 160,962 Total Domain Services 38,900,315 19,861,441 Network Expenses: Network, other costs 2,343,196 1,232,931 Network, depreciation and amortization costs 970,509 358,285 3,313,705 1,591,216 $ 52,624,417 $ 30,397,933
Schedule of Property Plant and Equipment by Geographic Region [Table Text Block]	March 31, 2017 December 31, 2016 Canada $ 1,095,863 $ 1,010,427 United States 17,271,569 12,398,961 Germany 36,007 41,050 $ 18,403,439 $ 13,450,438
Schedule of Acquired Intangible Assets by Major Class [Table Text Block]	March 31, 2017 December 31, 2016 Canada $ 5,617,394 $ 5,850,596 United States 43,457,359 633,798 Germany 273,760 325,090 $ 49,348,513 $ 6,809,484
Schedule of Deferred Tax Asset Net By Geographic Region [Table Text Block]	March 31, 2017 December 31, 2016 Canada $ - $ 5,708,725 $ - $ 5,708,725
Allowance for Credit Losses on Financing Receivables [Table Text Block]	Allowance for doubtful accounts excluding provision for credit notes Balance at beginning of period Charged to (recovered) costs and expenses Write-offs during period Balance at end of period Three months ended March 31, 2017 $ 164,145 $ 590 $ - $ 164,735 Year ended December 31, 2016 $ 122,095 $ 42,050 $ - $ 164,145

Note 12 - Stockholders' Equity

Note 12 - Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	Accumulated Additional Retained other Total Common stock paid in earnings comprehensive stockholders' Number Amount capital (deficit) income (loss) equity Balances, December 31, 2016 10,461,574 $ 14,460,500 $ 2,857,921 $ 20,399,511 $ 99,154 $ 37,817,086 Exercise of stock options 68,876 322,656 (302,787 ) - - 19,869 Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration (26,298 ) - (712,234 ) - - (712,234 ) Income tax effect related to stock options exercised - - - - - - Stock-based compensation (note 14) - - 317,820 - - 317,820 Net income - - - 2,446,491 - 2,446,491 Accretion of redeemable non-controlling interest in Ting Virginia, LLC. - - - (12,499 ) - (12,499 ) Other comprehensive income (loss) - - - - 105,609 105,609 Balances, March 31, 2017 10,504,152 $ 14,783,156 $ 2,160,720 $ 22,833,503 $ 204,763 $ 39,982,142

Note 13 - Share-based Payments

Note 13 - Share-based Payments (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Share-based Compensation, Stock Options, Activity [Table Text Block]	Three months ended March 31, 2017 Three months ended March 31, 2016 Number of shares Weighted average exercise price per share Number of shares Weighted average e xercise price per share Outstanding, beginning of period 474,501 $ 12.67 513,366 $ 9.24 Granted 32,875 40.56 55,000 20.89 Exercised (68,876 ) 7.83 (11,574 ) 4.63 Forfeited (7,889 ) 18.46 (5,401 ) 12.24 Expired - - (750 ) 3.76 Outstanding, end of period 430,611 15.46 550,641 10.48 Options exercisable, end of period 264,753 $ 10.72 311,594 $ 6.54
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	Options outstanding Options exercisable Exercise price Number outstanding Weighted average exercise price per share Weighted average remaining contractual life (years) Aggregate intrinsic value Number exercisable Weighted average exercise price per share Weighted average remaining contractual life (years) Aggregate intrinsic value $ 2.80 - $ 8.92 173,473 $ 6.11 1.9 $ 7,796,487 159,554 $ 5.89 1.8 $ 7,205,069 $10.16 - $19.95 140,013 16.26 4.1 4,871,179 77,699 16.01 3.8 2,722,299 $21.10 - $27.53 84,250 23.61 5.0 2,312,190 27,500 23.73 4.2 751,250 $35.25 - $37.35 14,375 35.89 6.2 217,937 - - - - $43.15 - $47.00 18,500 44.19 6.8 126,900 - - - - 430,611 $ 15.46 3.6 $ 15,324,693 264,753 $ 10.72 2.6 $ 10,678,618

Note 14 - Fair Value Measurem30

Note 14 - Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	March 31, 2017 Fair Value Measurement Using Assets (Liabilities) Level 1 Level 2 Level 3 at Fair value Derivative instrument asset $ - $ 356,525 $ - $ 356,525 December 31, 2016 Fair Value Measurement Using Assets (Liabilities) Level 1 Level 2 Level 3 at Fair value Derivative instrument asset $ - $ 172,888 $ - $ 172,888

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Decrease in Net Revenues and Sales and Marketing Expense [Member] | Three Months Ended March 31, 2016 [Member]
Prior Period Reclassification Adjustment	$ 0.9

Note 3 - Recent Accounting Pr32

Note 3 - Recent Accounting Pronouncements (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Tax Expense (Benefit)	$ (125,449)	$ 1,905,730
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	$ (1,000,000)

Note 4 - Derivative Instrumen33

Note 4 - Derivative Instruments and Hedging Activities (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Derivative, Notional Amount	$ 20,249,559
Forward Contracts [Member]
Derivative, Notional Amount	20,200,000		$ 26,600,000
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	16,476	$ 100,000
Forward Contracts [Member] | Designated as Hedging Instrument [Member]
Derivative, Notional Amount	18,200,000		$ 24,000,000
Forward Contracts [Member] | Not Designated as Hedging Instrument [Member]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 17,949	$ (200,000)

Note 4 - Derivative Instrumen34

Note 4 - Derivative Instruments and Hedging Activities - Foreign Currency Forward Contracts (Details)	Mar. 31, 2017USD ($)
Notional amount of U.S. dollars	$ 20,249,559
Weighted average exchange rate of U.S. dollars	1.3494
Fair value	$ 356,525
Foreign Exchange Forward 1 [Member]
Notional amount of U.S. dollars	$ 6,461,047
Weighted average exchange rate of U.S. dollars	1.3512
Fair value	$ 113,277
Foreign Exchange Forward 2 [Member]
Notional amount of U.S. dollars	$ 6,928,942
Weighted average exchange rate of U.S. dollars	1.3494
Fair value	$ 121,356
Foreign Exchange Forward 3 [Member]
Notional amount of U.S. dollars	$ 6,859,570
Weighted average exchange rate of U.S. dollars	1.3478
Fair value	$ 121,892

Note 4 - Derivative Instrumen35

Note 4 - Derivative Instruments and Hedging Activities - Fair Value of Derivative Instruments in the Consolidated Balance Sheets (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Foreign currency forward contracts	$ 356,525
Derivative Instruments [Member]
Foreign currency forward contracts	356,525
Foreign currency forward contracts		$ 172,888
Derivative Instruments [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Foreign currency forward contracts	321,248
Foreign currency forward contracts		155,560
Derivative Instruments [Member] | Not Designated as Hedging Instrument [Member]
Foreign currency forward contracts	$ 35,277
Foreign currency forward contracts		$ 17,328

Note 4 - Derivative Instrumen36

Note 4 - Derivative Instruments and Hedging Activities - Movement in AOCI Balance (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
AOCI balance	$ 155,560
AOCI balance	(56,406)
AOCI balance	99,154
Other comprehensive income (loss) before reclassifications	292,171
Other comprehensive income (loss) before reclassifications	(105,942)
Other comprehensive income (loss) before reclassifications	186,229	$ 547,963
Amount reclassified from accumulated other comprehensive income	(126,483)
Amount reclassified from accumulated other comprehensive income	45,863
Amount reclassified from accumulated other comprehensive income	(80,620)	$ 335,557
Other comprehensive income (loss)	165,688
Other comprehensive income (loss)	(60,079)
Other comprehensive income (loss)	105,609
AOCI balance	321,248
AOCI balance	(116,485)
AOCI balance	$ 204,763

Note 4 - Derivative Instrumen37

Note 4 - Derivative Instruments and Hedging Activities - Effects of Derivative Instruments on Income and Other Comprehensive Income (OCI) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating Expense [Member]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	$ 105,355	$ (372,390)
Amount of Gain or (Loss) Recognized in Income on Derivative (ineffective Portion and Amount Excluded from Effectiveness), net of tax		(47,240)
Cost of Sales [Member]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	21,128	(106,817)
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)	$ 105,609	$ 883,520

Note 5 - Goodwill and Other I38

Note 5 - Goodwill and Other Intangible Assets (Details Textual) - USD ($)	Jan. 20, 2017	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Goodwill		$ 85,526,787		$ 21,005,143
Goodwill, Acquired During Period		64,500,000
Finite-Lived Intangible Assets, Accumulated Amortization		8,700,000
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			$ 20,985
eNom Incorporated [Member]
Goodwill	$ 64,521,645
eNom Incorporated [Member] | Brand [Member]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years
eNom Incorporated [Member] | Technology-Based Intangible Assets [Member]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	2 years
eNom Incorporated [Member] | Customer Relationships [Member]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years
Domain Name Services [Member]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)		20,985
Domain Services Operating Segment [Member]
Goodwill		$ 83,400,000
Goodwill Percentage Related to Operating Segments		98.00%
Network Access Services [Member]
Goodwill		$ 2,100,000
Goodwill Percentage Related to Operating Segments		2.00%

Note 5 - Goodwill and Other I39

Note 5 - Goodwill and Other Intangible Assets - Acquired Intangible Assets by Major Class (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Balances	$ 19,973,793
Reclassifications
Acquisition of Enom	44,300,000
Additions to/(disposals from) domain portfolio, net	(9,789)	$ (8,220)
Amortization expense	(1,760,971)	$ (68,529)
Balances	62,503,033
Brand [Member]
Balances	5,210
Reclassifications	43,620
Acquisition of Enom	12,400,000
Additions to/(disposals from) domain portfolio, net
Amortization expense	(342,452)
Balances	12,106,378
Customer Relationships [Member]
Balances	6,198,811
Reclassifications	(45,509)
Acquisition of Enom	28,000,000
Additions to/(disposals from) domain portfolio, net
Amortization expense	(1,038,358)
Balances	33,114,944
Technology-Based Intangible Assets [Member]
Balances
Reclassifications
Acquisition of Enom	3,900,000
Additions to/(disposals from) domain portfolio, net
Amortization expense	(368,630)
Balances	3,531,370
Network Rights [Member]
Balances	605,463
Reclassifications	1,889
Acquisition of Enom
Additions to/(disposals from) domain portfolio, net
Amortization expense	(11,532)
Balances	595,820
Surname Domain Names [Member]
Balances	11,295,221
Reclassifications
Acquisition of Enom
Additions to/(disposals from) domain portfolio, net	(1,946)
Amortization expense
Balances	11,293,275
Direct Navigation Domain Names [Member]
Balances	1,869,088
Reclassifications
Acquisition of Enom
Additions to/(disposals from) domain portfolio, net	(7,842)
Amortization expense
Balances	$ 1,861,246

Note 5 - Goodwill and Other I40

Note 5 - Goodwill and Other Intangible Assets - Estimated Future Amortization Expense of Intangible Assets (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Remainder of 2017	$ 6,696,261
2,018	8,823,908
2,019	6,869,230
2,020	6,750,360
2,021	6,750,360
Thereafter	13,458,394
Total	$ 49,348,512	$ 6,809,484

Note 6 - Loan Payable (Details

Note 6 - Loan Payable (Details Textual)	Jan. 20, 2017USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Oct. 01, 2018	Oct. 01, 2017	Jan. 19, 2017USD ($)
Payments of Financing Costs	$ 591,175	$ 591,175
Line of Credit Facility Covenant Period		1 year 180 days
Foreign Exchange Risk [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 3,500,000
Derivative Asset, Fair Value, Gross Asset		$ 20,200,000
Bank of Montreal and Royal Bank of Canada [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 140,000,000
Debt Instrument, Term	4 years
Maximum Total Funded Debt to EBITDA Ratio	2.25	3
Repayment Obligation, Percentage of Excess Cash Flow	50.00%
Minimum Fixed Charge Coverage Ratio		1.2
Maximum Annual Capital Expenditures Requirement		$ 32,800,000
Line of Credit Facility, Maximum Funded Share Repurchases Ceiling		$ 20,000,000
Maximum Ratio of Funded Share Repurchases to 12 Months Trailing EDITDA		1.5
Bank of Montreal and Royal Bank of Canada [Member] | Scenario, Forecast [Member]
Maximum Total Funded Debt to EBITDA Ratio				2.25	2.5
Bank of Montreal and Royal Bank of Canada [Member] | Total Loans Do Not Exceed 1.5 Times of Trailing 12 Months EBITDA [Member]
Line of Credit Facility, Maximum Funded Share Repurchases Ceiling		$ 40,000,000
Bank of Montreal and Royal Bank of Canada [Member] | Non-revolving Facility C [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 35,500,000					$ 40,000,000
Bank of Montreal and Royal Bank of Canada [Member] | Non-revolving Facility D [Member]
Line of Credit Facility, Maximum Borrowing Capacity	84,500,000
Long-term Line of Credit	84,500,000
Bank of Montreal and Royal Bank of Canada [Member] | Revolving Credit Facility A [Member]
Line of Credit Facility, Maximum Borrowing Capacity	5,000,000
Bank of Montreal and Royal Bank of Canada [Member] | Revolving Reducing Term Facility B [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 15,000,000
Bank of Montreal and Royal Bank of Canada [Member] | Credit Facility B and C [Member] | Draws for Share Repurchases [Member]
Debt Instrument, Term	4 years
Bank of Montreal and Royal Bank of Canada [Member] | Credit Facility B and C [Member] | Draws for Acquisitions [Member]
Debt Instrument, Term	5 years
Bank of Montreal and Royal Bank of Canada [Member] | Credit Facility B and C [Member] | Draws for FFTH Capital Expenditures [Member]
Debt Instrument, Term	7 years

Note 6 - Loan Payable - Schedul

Note 6 - Loan Payable - Schedule of Standby Fees Based on Total Funded Debt to EBITDA Ratio (Details)	3 Months Ended
	Mar. 31, 2017
Debt to EBITDA is Less Than 1 [Member]
Standby fees	0.40%
Debt to EBITDA is Greater Than or Equal to 1 and Less Than 2 [Member]
Standby fees	0.45%
Debt to EBITDA is Greater Than or Equal to 2 and Less Than 2.25 [Member]
Standby fees	0.55%
Debt to EBITDA is Greater Than or Equal to 2.25 [Member]
Standby fees	0.65%
Bank of Montreal and Royal Bank of Canada [Member] | London Interbank Offered Rate (LIBOR) [Member] | Debt to EBITDA is Less Than 1 [Member]
Basis Spread on Variable Rate	2.00%
Bank of Montreal and Royal Bank of Canada [Member] | London Interbank Offered Rate (LIBOR) [Member] | Debt to EBITDA is Greater Than or Equal to 1 and Less Than 2 [Member]
Basis Spread on Variable Rate	2.25%
Bank of Montreal and Royal Bank of Canada [Member] | London Interbank Offered Rate (LIBOR) [Member] | Debt to EBITDA is Greater Than or Equal to 2 and Less Than 2.25 [Member]
Basis Spread on Variable Rate	2.75%
Bank of Montreal and Royal Bank of Canada [Member] | London Interbank Offered Rate (LIBOR) [Member] | Debt to EBITDA is Greater Than or Equal to 2.25 [Member]
Basis Spread on Variable Rate	3.25%
Bank of Montreal and Royal Bank of Canada [Member] | Base Rate [Member] | Debt to EBITDA is Less Than 1 [Member]
Basis Spread on Variable Rate	0.75%
Bank of Montreal and Royal Bank of Canada [Member] | Base Rate [Member] | Debt to EBITDA is Greater Than or Equal to 1 and Less Than 2 [Member]
Basis Spread on Variable Rate	1.00%
Bank of Montreal and Royal Bank of Canada [Member] | Base Rate [Member] | Debt to EBITDA is Greater Than or Equal to 2 and Less Than 2.25 [Member]
Basis Spread on Variable Rate	1.50%
Bank of Montreal and Royal Bank of Canada [Member] | Base Rate [Member] | Debt to EBITDA is Greater Than or Equal to 2.25 [Member]
Basis Spread on Variable Rate	2.00%

Note 6 - Loan Payable - Sched43

Note 6 - Loan Payable - Schedule of Loans Payable (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Loans payable	$ 90,464,460	$ 10,248,808
Less: unamortized debt discount and issuance costs	(1,006,568)	(482,498)
Less: loan payable, current portion	18,289,853	2,233,110
Loan payable, long-term portion	72,174,607	8,015,698
Revolving Reducing Term Facility B [Member]
Loans payable		6,000,000
Non-revolving Facility C [Member]
Loans payable	6,973,028	4,731,306
Non-revolving Facility D [Member]
Loans payable	$ 84,498,000

Note 6 - Loan Payable - Princip

Note 6 - Loan Payable - Principal Repayments (Details)	Mar. 31, 2017USD ($)
Remainder of 2017	$ 13,717,390
2,018	18,289,853
2,019	18,289,853
2,020	18,103,004
2,021	17,542,457
Thereafter	5,528,471
	$ 91,471,028

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Jan. 20, 2017	Dec. 31, 2016
Income Tax Expense (Benefit)	$ (125,449)	$ 1,905,730
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	2,321,042	$ 6,343,968
Unrecognized Tax Benefits	100,000			$ 100,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	0			$ 0
eNom Incorporated [Member]
Deferred Tax Liabilities, Net			$ 20,000,000
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	$ (1,000,000)

Note 8 - Acquisitions (Details

Note 8 - Acquisitions (Details Textual) - USD ($)	Feb. 01, 2017	Jan. 20, 2017	Feb. 27, 2015	Mar. 31, 2017	Dec. 31, 2016
Redeemable Noncontrolling Interest, Equity, Carrying Amount				$ 1,098,589	$ 3,086,090
Redeemable Noncontrolling Interest, Equity, Redemption Value				$ 1,200,000
Ting Virginia LLC [Member]
Business Acquisition, Percentage of Voting Interests Acquired	20.00%		70.00%
Business Combination, Consideration Transferred	$ 2,000,000		$ 3,500,000
Ting Virginia LLC [Member] | Exercisable by the Minority Shareholders [Member] | Exercisable on Fourth Anniversary of Business Combination [Member]
Business Combination, Consideration to be Transfered Upon Exercise of Options Per Percentage Point	$ 120,000
Ting Virginia LLC [Member] | Subsequent Event [Member] | Exercisable by the Minority Shareholders [Member]
Business Combination, Interest Subject to Call Option, Not Exercised in Period	10.00%
eNom Incorporated [Member]
Business Combination, Consideration Transferred		$ 77,831,677
Payments to Acquire Businesses, Gross		83,500,000
Business Combination, Consideration Transferred, Estimated Price Adjusments		5,700,000
Business Acquisition, Transaction Costs		800,000
eNom Incorporated [Member] | General and Administrative Expense [Member]
Business Acquisition, Transaction Costs		$ 400,000

Note 8 - Acquisitions - Prelimi

Note 8 - Acquisitions - Preliminary Purchase Consideration (Details) - USD ($)	Jan. 20, 2017	Mar. 31, 2017	Dec. 31, 2016
Goodwill		$ 85,526,787	$ 21,005,143
eNom Incorporated [Member]
Goodwill	$ 64,521,645
Cash	1,594,217
Prepaid domain registry fees	70,643,994
Other assets	10,170,789
Total assets	191,230,645
Deferred Revenue	(77,798,994)
Deferred Tax Liabilities	(20,011,945)
Other liabilities	(15,588,029)
Total liabilities	(113,398,968)
Preliminary consideration paid	77,831,677
eNom Incorporated [Member] | Brand [Member]
Finite-Lived Intangibles	12,400,000
eNom Incorporated [Member] | Technology-Based Intangible Assets [Member]
Finite-Lived Intangibles	3,900,000
eNom Incorporated [Member] | Customer Relationships [Member]
Finite-Lived Intangibles	$ 28,000,000

Note 8 - Acquisitions - Pro For

Note 8 - Acquisitions - Pro Forma Information (Details) - eNom Incorporated [Member] - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net revenues	$ 74,030,284	$ 81,984,690
Net income	$ 2,074,318	$ 613,507
Basic earnings per common share (in dollars per share)	$ 0.20	$ 0.06
Diluted earnings per common share (in dollars per share)	$ 0.19	$ 0.06

Note 9 - Basic and Diluted Ea49

Note 9 - Basic and Diluted Earnings Per Common Share (Details Textual) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Stock Repurchase [Member]
Stock Repurchased and Retired During Period, Shares	0	98,178
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	28,500
Business Acquisition, Pro Forma Earnings Per Share, Diluted		$ 130,475

Note 9 - Earnings Per Common Sh

Note 9 - Earnings Per Common Share - Summary of Basic and Diluted Earnings Per Common Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income for the period	$ 2,446,491	$ 4,438,238
Basic weighted average number of common shares outstanding (in shares)	10,474,647	10,674,036
Effect of outstanding stock options (in shares)	301,868	187,546
Diluted weighted average number of shares outstanding (in shares)	10,776,515	10,861,582
Basic earnings per common share (in dollars per share)	$ 0.23	$ 0.42
Diluted earnings per common share (in dollars per share)	$ 0.23	$ 0.41

Note 10 - Segment Reporting (De

Note 10 - Segment Reporting (Details Textual)	3 Months Ended
	Mar. 31, 2017
Number of Operating Segments	2

Note 10 - Segment Reporting - I

Note 10 - Segment Reporting - Information by Reportable Segments (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net Revenues	$ 69,568,062	$ 44,746,089
Cost of revenues	49,310,712	28,806,717
Network expenses	2,343,196	1,232,931
Depreciation of property and equipment	590,347	346,753
Amortization of intangible assets	380,162	11,532
Total cost of revenues	52,624,417	30,397,933
Gross Profit	16,943,645	14,348,156
Sales and marketing	7,219,322	4,465,056
Technical operations and development	1,694,141	1,176,360
General and administrative	3,457,343	2,404,927
Depreciation of property and equipment	166,317	73,268
Amortization of intangible assets	1,380,809	56,997
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)		20,985
Gain on currency forward contracts	(34,425)	(110,757)
Income from operations	3,060,138	6,261,320
Other income (expenses), net	(739,096)	82,648
Income before provision for income taxes	2,321,042	6,343,968
Network Access Services [Member]
Net Revenues	19,100,862	16,997,839
Cost of revenues	10,410,397	8,945,276
Network expenses	541,963	214,524
Depreciation of property and equipment	426,078	185,680
Amortization of intangible assets	11,532	11,532
Total cost of revenues	11,389,970	9,357,012
Gross Profit	7,710,892	7,640,827
Domain Name Services [Member]
Net Revenues	50,467,200	27,748,250
Cost of revenues	38,900,315	19,861,441
Network expenses	1,801,233	1,018,407
Depreciation of property and equipment	164,269	161,073
Amortization of intangible assets	368,630
Total cost of revenues	41,234,447	21,040,921
Gross Profit	$ 9,232,753	$ 6,707,329

Note 10 - Segment Reporting - S

Note 10 - Segment Reporting - Summary of Revenue Earned from Each Significant Revenue Stream (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating revenues	$ 69,568,062	$ 44,746,089
Cost of revenues	49,310,712	28,806,717
Network expenses	2,343,196	1,232,931
Amortization of intangible assets	380,162	11,532
Total cost of revenues	52,624,417	30,397,933
Network Expenses [Member]
Network expenses	2,343,196	1,232,931
Amortization of intangible assets	970,509	358,285
Network Expenses	3,313,705	1,591,216
Network Access Services [Member]
Operating revenues	19,100,862	16,997,839
Cost of revenues	10,410,397	8,945,276
Network expenses	541,963	214,524
Amortization of intangible assets	11,532	11,532
Total cost of revenues	11,389,970	9,357,012
Network Access Services [Member] | Mobile Services [Member]
Cost of revenues	9,567,160	8,558,435
Network Access Services [Member] | Other Services [Member]
Cost of revenues	843,237	386,841
Network Access Services [Member] | Mobile Services [Member]
Operating revenues	17,962,868	16,107,426
Network Access Services [Member] | Other Services [Member]
Operating revenues	1,137,994	890,413
Domain Name Services [Member]
Operating revenues	50,467,200	27,748,250
Cost of revenues	38,900,315	19,861,441
Network expenses	1,801,233	1,018,407
Amortization of intangible assets	368,630
Total cost of revenues	41,234,447	21,040,921
Domain Name Services [Member] | Wholesale [Member]
Operating revenues	43,148,629	23,556,693
Cost of revenues	35,020,868	18,122,037
Domain Name Services [Member] | Wholesale [Member] | Domain Services [Member]
Operating revenues	39,091,817	21,257,654
Cost of revenues	34,462,927	17,642,586
Domain Name Services [Member] | Wholesale [Member] | Value Added Services [Member]
Operating revenues	4,056,812	2,299,039
Cost of revenues	557,941	479,451
Domain Name Services [Member] | Retail Services [Member]
Operating revenues	6,401,703	3,450,895
Cost of revenues	3,617,402	1,578,442
Domain Name Services [Member] | Portfolio [Member]
Operating revenues	916,868	740,662
Cost of revenues	$ 262,045	$ 160,962

Note 10 - Segment Reporting -54

Note 10 - Segment Reporting - Summary of Property and Equipment by Geographic Region (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Property, plant and equipment	$ 18,403,439	$ 13,450,438
CANADA
Property, plant and equipment	1,095,863	1,010,427
UNITED STATES
Property, plant and equipment	17,271,569	12,398,961
GERMANY
Property, plant and equipment	$ 36,007	$ 41,050

Note 10 - Segment Reporting -55

Note 10 - Segment Reporting - Summary of Amortizable Intangible Assets by Geographic Region (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Amortizable intangible assets	$ 49,348,512	$ 6,809,484
CANADA
Amortizable intangible assets	5,617,394	5,850,596
UNITED STATES
Amortizable intangible assets	43,457,359	633,798
GERMANY
Amortizable intangible assets	$ 273,760	$ 325,090

Note 10 - Segment Reporting -56

Note 10 - Segment Reporting - Summary of Deferred Tax Asset, Net of Valuation Allowance (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Deferred tax assets		$ 5,708,725
CANADA
Deferred tax assets		$ 5,708,725

Note 10 - Segment Reporting -57

Note 10 - Segment Reporting - Summary of Valuation and Qualifying Accounts (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Balance at beginning of period	$ 164,145	$ 122,095
Charged to (recovered) costs and expenses	590	42,050
Balance at end of period	$ 164,735	$ 164,145

Note 12 - Stockholders' Equit58

Note 12 - Stockholders' Equity (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 01, 2017	Feb. 09, 2016	Feb. 11, 2015
Stock Buyback Program 2017 [Member]
Stock Repurchase Program, Authorized Amount			$ 40
Stock Repurchased and Retired During Period, Shares	0
Stock Buyback Program 2016 [Member]
Stock Repurchase Program, Authorized Amount				$ 40
Stock Repurchased and Retired During Period, Shares		98,718
Stock Repurchased and Retired During Period, Value		$ 2.2
Stock Buyback Program 2015 [Member]
Stock Repurchase Program, Authorized Amount					$ 20
Stock Repurchased and Retired During Period, Shares		0

Note 12 - Stockholders' Equit59

Note 12 - Stockholders' Equity - Stockholders' Equity Transactions (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Balances	$ 37,817,086
Exercise of stock options (in shares)	68,876	11,574
Exercise of stock options	$ 19,869
Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration	(712,234)
Income tax effect related to stock options exercised
Stock-based compensation (note 14)	317,820
Net income	2,446,491	$ 4,438,238
Accretion of redeemable non-controlling interest in Ting Virginia, LLC.	(12,499)
Other comprehensive income (loss)	105,609	$ 883,520
Balances	$ 39,982,142
Common Stock [Member]
Balances (in shares)	10,461,574
Balances	$ 14,460,500
Exercise of stock options (in shares)	68,876
Exercise of stock options	$ 322,656
Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration (in shares)	(26,298)
Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration
Income tax effect related to stock options exercised
Stock-based compensation (note 14)
Accretion of redeemable non-controlling interest in Ting Virginia, LLC.
Other comprehensive income (loss)
Balances (in shares)	10,504,152
Balances	$ 14,783,156
Additional Paid-in Capital [Member]
Balances	2,857,921
Exercise of stock options	(302,787)
Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration	(712,234)
Income tax effect related to stock options exercised
Stock-based compensation (note 14)	317,820
Accretion of redeemable non-controlling interest in Ting Virginia, LLC.
Other comprehensive income (loss)
Balances	2,160,720
Retained Earnings [Member]
Balances	20,399,511
Exercise of stock options
Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration
Income tax effect related to stock options exercised
Stock-based compensation (note 14)
Net income	2,446,491
Accretion of redeemable non-controlling interest in Ting Virginia, LLC.	(12,499)
Other comprehensive income (loss)
Balances	22,833,503
AOCI Attributable to Parent [Member]
Balances	99,154
Exercise of stock options
Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration
Income tax effect related to stock options exercised
Stock-based compensation (note 14)
Accretion of redeemable non-controlling interest in Ting Virginia, LLC.
Other comprehensive income (loss)	105,609
Balances	$ 204,763

Note 13 - Share-based Payment60

Note 13 - Share-based Payments (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Allocated Share-based Compensation Expense	$ 300	$ 200
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	0
Employee Stock Option [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 1,600
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 292 days

Note 13 - Share-based Payment61

Note 13 - Share-based Payments - Stock Option Transactions (Details) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Outstanding, Number of shares (in shares)	474,501	513,366
Outstanding, Weighted average exercise price per share (in dollars per share)	$ 12.67	$ 9.24
Granted, Number of shares (in shares)	32,875	55,000
Granted, Weighted average exercise price per share (in dollars per share)	$ 40.56	$ 20.89
Exercised, Number of shares (in shares)	(68,876)	(11,574)
Exercised, Weighted average exercise price per share (in dollars per share)	$ 7.83	$ 4.63
Forfeited, Number of shares (in shares)	(7,889)	(5,401)
Forfeited, Weighted average exercise price per share (in dollars per share)	$ 18.46	$ 12.24
Expired, Number of shares (in shares)		(750)
Expired, Weighted average exercise price per share (in dollars per share)		$ 3.76
Outstanding, Number of shares (in shares)	430,611	550,641
Outstanding, Weighted average exercise price per share (in dollars per share)	$ 15.46	$ 10.48
Options exercisable, Number of shares (in shares)	264,753	311,594
Options exercisable, Weighted average exercise price per share (in dollars per share)	$ 10.72	$ 6.54

Note 13 - Share-based Payment62

Note 13 - Share-based Payments - Summary of Exercise Prices, Weighted Average Remaining Contractual Life and Intrinsic Values of Outstanding Options (Details)	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Number outstanding (in shares) | shares	430,611
Weighted average exercise price per share, options outstanding (in dollars per share)	$ 15.46
Weighted average remaining contractual life (years), options outstanding (Year)	3 years 219 days
Aggregate intrinsic value, options outstanding | $	$ 15,324,693
Number exercisable (in shares) | shares	264,753
Weighted average exercise price per share, options exercisable (in dollars per share)	$ 10.72
Weighted average remaining contractual life (years), options exercisable (Year)	2 years 219 days
Aggregate intrinsic value, options exercisable | $	$ 10,678,618
Exercise Price Range 01 [Member]
Exercise price - lower (in dollars per share)	$ 2.80
Exercise price - higher (in dollars per share)	$ 8.92
Number outstanding (in shares) | shares	173,473
Weighted average exercise price per share, options outstanding (in dollars per share)	$ 6.11
Weighted average remaining contractual life (years), options outstanding (Year)	1 year 328 days
Aggregate intrinsic value, options outstanding | $	$ 7,796,487
Number exercisable (in shares) | shares	159,554
Weighted average exercise price per share, options exercisable (in dollars per share)	$ 5.89
Weighted average remaining contractual life (years), options exercisable (Year)	1 year 292 days
Aggregate intrinsic value, options exercisable | $	$ 7,205,069
Exercise Price Range 02 [Member]
Exercise price - lower (in dollars per share)	$ 10.16
Exercise price - higher (in dollars per share)	$ 19.95
Number outstanding (in shares) | shares	140,013
Weighted average exercise price per share, options outstanding (in dollars per share)	$ 16.26
Weighted average remaining contractual life (years), options outstanding (Year)	4 years 36 days
Aggregate intrinsic value, options outstanding | $	$ 4,871,179
Number exercisable (in shares) | shares	77,699
Weighted average exercise price per share, options exercisable (in dollars per share)	$ 16.01
Weighted average remaining contractual life (years), options exercisable (Year)	3 years 292 days
Aggregate intrinsic value, options exercisable | $	$ 2,722,299
Exercise Price Range 03 [Member]
Exercise price - lower (in dollars per share)	$ 21.10
Exercise price - higher (in dollars per share)	$ 27.53
Number outstanding (in shares) | shares	84,250
Weighted average exercise price per share, options outstanding (in dollars per share)	$ 23.61
Weighted average remaining contractual life (years), options outstanding (Year)	5 years
Aggregate intrinsic value, options outstanding | $	$ 2,312,190
Number exercisable (in shares) | shares	27,500
Weighted average exercise price per share, options exercisable (in dollars per share)	$ 23.73
Weighted average remaining contractual life (years), options exercisable (Year)	4 years 73 days
Aggregate intrinsic value, options exercisable | $	$ 751,250
Exercise Price Range 04 [Member]
Exercise price - lower (in dollars per share)	$ 35.25
Exercise price - higher (in dollars per share)	$ 37.35
Number outstanding (in shares) | shares	14,375
Weighted average exercise price per share, options outstanding (in dollars per share)	$ 35.89
Weighted average remaining contractual life (years), options outstanding (Year)	6 years 73 days
Aggregate intrinsic value, options outstanding | $	$ 217,937
Number exercisable (in shares) | shares
Weighted average exercise price per share, options exercisable (in dollars per share)
Weighted average remaining contractual life (years), options exercisable (Year)
Aggregate intrinsic value, options exercisable | $
Exercise Price Range 05 [Member]
Exercise price - lower (in dollars per share)	$ 43.15
Exercise price - higher (in dollars per share)	$ 47
Number outstanding (in shares) | shares	18,500
Weighted average exercise price per share, options outstanding (in dollars per share)	$ 44.19
Weighted average remaining contractual life (years), options outstanding (Year)	6 years 292 days
Aggregate intrinsic value, options outstanding | $	$ 126,900
Number exercisable (in shares) | shares
Weighted average exercise price per share, options exercisable (in dollars per share)
Weighted average remaining contractual life (years), options exercisable (Year)
Aggregate intrinsic value, options exercisable | $

Note 14 - Fair Value Measurem63

Note 14 - Fair Value Measurement - Summary of the Fair Values of the Company's Derivative Instrument Liabilities (Details) - Fair Value, Measurements, Recurring [Member] - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Derivative instrument asset	$ 356,525	$ 172,888
Fair Value, Inputs, Level 1 [Member]
Derivative instrument asset
Fair Value, Inputs, Level 2 [Member]
Derivative instrument asset	356,525	172,888
Fair Value, Inputs, Level 3 [Member]
Derivative instrument asset