Tucows (TCX) 10-K 6 Mar 18 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Mar. 02, 2018	Jun. 30, 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)		10,589,221
Entity Public Float			$ 564.6
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 18,049,164	$ 15,105,075
Accounts receivable, net of allowance for doubtful accounts of $168,409 as of December 31, 2017 and $164,145 as of December 31, 2016	12,376,104	10,925,622
Inventory	2,944,246	1,210,789
Prepaid expenses and deposits	14,185,586	6,250,555
Derivative instrument asset, current portion (note 6)		172,888
Prepaid domain name registry and ancillary services fees, current portion	103,302,472	49,396,737
Income taxes recoverable	3,003,873	220,451
Total current assets	153,861,445	83,282,117
Prepaid domain name registry and ancillary services fees, long-term portion	23,700,931	10,993,156
Property and equipment (note 4)	24,620,298	13,450,438
Deferred tax asset (note 9)		5,708,725
Intangible assets (note 5)	58,414,178	19,973,793
Goodwill (note 5)	90,053,483	21,005,143
Total assets	350,650,335	154,413,372
Current liabilities:
Accounts payable	7,026,282	4,786,645
Accrued liabilities	6,412,578	7,098,905
Customer deposits	15,255,305	5,418,622
Deferred rent, current portion	20,991	20,854
Loan payable, current portion (note 8)	18,289,853	2,233,110
Deferred revenue, current portion	129,154,622	62,795,079
Accreditation fees payable, current portion	1,174,733	528,027
Income taxes payable	1,226,157	1,548,121
Total current liabilities	178,560,521	84,429,363
Deferred revenue, long-term portion	31,426,906	15,053,977
Accreditation fees payable, long-term portion	288,755	115,084
Deferred rent, long-term portion	129,777	124,202
Loan payable, long-term portion (note 8)	58,634,174	8,015,698
Deferred gain	429,400	944,680
Deferred tax liability (note 9)	19,833,678	4,827,192
Redeemable non-controlling interest (note 3 (a))	1,136,390	3,086,090
Stockholders' equity (note 10)
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; 10,583,879 shares issued and outstanding as of December 31, 2017 and 10,461,574 shares issued and outstanding as of December 31, 2016	15,368,161	14,460,500
Additional paid-in capital	2,166,768	2,857,921
Retained earnings	42,675,805	20,399,511
Accumulated other comprehensive income		99,154
Total stockholders' equity	60,210,734	37,817,086
Total liabilities and stockholders' equity	350,650,335	154,413,372
Commitments and contingencies (note 15)

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounts receivable, allowance for doubtful accounts	$ 168,409	$ 164,145
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
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
Common 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)	10,583,879	10,461,574
Common stock, shares outstanding (in shares)	10,583,879	10,461,574

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net revenues (note 16)	$ 329,420,741	$ 189,818,932	$ 171,686,779
Cost of revenues (note 16)
Cost of revenues	230,599,632	120,186,962	112,980,685
Network expenses	9,324,454	5,210,500	5,464,777
Depreciation of property and equipment	3,142,398	1,319,819	1,144,988
Amortization of intangible assets (note 5)	1,833,628	48,017	38,520
Total cost of revenues	244,900,112	126,765,298	119,628,970
Gross profit	84,520,629	63,053,634	52,057,809
Expenses:
Sales and marketing	29,422,984	20,754,752	17,394,376
Technical operations and development	7,257,720	4,494,819	4,502,845
General and administrative	13,593,901	11,404,793	10,661,949
Depreciation of property and equipment	585,424	503,864	259,307
Amortization of intangible assets (note 5)	6,566,308	905,157	224,206
Impairment of indefinite life intangible assets (note 5)	111,251	42,673	206,116
Loss (gain) on currency forward contracts (note 7)	(98,227)	(98,977)	792,900
Total expenses	57,439,361	38,007,081	34,041,699
Income from operations	27,081,268	25,046,553	18,016,110
Other income (expense):
Interest expense, net	(3,567,156)	(449,838)	(159,025)
Other income, net (note 13)	560,656	516,209	85,872
Total other income (expense)	(3,006,500)	66,371	(73,153)
Income before provision for income taxes	24,074,768	25,112,924	17,942,957
Provision for income taxes (note 9)	1,748,174	9,045,770	6,569,227
Net income before redeemable non-controlling interest	22,326,594	16,067,154	11,373,730
Redeemable non-controlling interest	(386,995)	(871,493)	(284,509)
Net income attributable to redeemable non-controlling interest	386,995	871,493	284,509
Net income for the period	22,326,594	16,067,154	11,373,730
Other comprehensive income (loss), net of tax
Unrealized income (loss) on hedging activities (note 7)	550,347	567,816	(2,031,465)
Net amount reclassified to earnings (note 7)	(649,501)	640,790	1,544,454
Other comprehensive income (loss) net of tax of $56,406 and $668,637 for the year ended December 31, 2017 and December 31, 2016 (note 7)	(99,154)	1,208,606	(487,011)
Comprehensive income for the period	$ 22,227,440	$ 17,275,760	$ 10,886,719
Basic earnings per common share (note 14) (in dollars per share)	$ 2.12	$ 1.53	$ 1.04
Shares used in computing basic earnings per common share (note 14) (in shares)	10,537,356	10,524,856	10,968,500
Diluted earnings per common share (note 14) (in dollars per share)	$ 2.07	$ 1.50	$ 1
Shares used in computing diluted earnings per common share (note 14) (in shares)	10,793,622	10,713,595	11,360,084

Consolidated Statements of Com5

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other comprehensive income (loss), tax	$ 56,406	$ 668,637	$ 287,996

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balances (in shares) at Dec. 31, 2014	11,329,732
Balances at Dec. 31, 2014	$ 14,130,059	$ 29,090,058	$ (6,955,283)	$ (622,441)	$ 35,642,393
Exercise of stock options (in shares)	517,998				517,998
Exercise of stock options	$ 1,784,112	(980,976)			$ 803,136
Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration (in shares)	(99,675)				(99,675)
Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration		(1,306,981)			$ (1,306,981)
Repurchase and retirement of shares (note 10) (in shares)	(1,062,456)				(1,062,456)
Repurchase and retirement of shares (note 10)	$ (1,383,538)	(22,232,748)			$ (23,616,286)
Income tax effect related to stock options exercised		3,431,017			3,431,017
Stock-based compensation (note 11)		526,025			526,025
Net income			11,373,730		11,373,730
Accretion of redeemable non-controlling interest in Ting Virginia, LLC. (note 3)			(36,598)		(36,598)
Other comprehensive income (loss)				(487,011)	(487,011)
Balances (in shares) at Dec. 31, 2015	10,685,599
Balances at Dec. 31, 2015	$ 14,530,633	8,526,395	4,381,849	(1,109,452)	$ 26,329,425
Exercise of stock options (in shares)	109,963				109,963
Exercise of stock options	$ 350,506	(204,116)			$ 146,390
Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration (in shares)	(25,572)				(25,572)
Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration		(363,285)			$ (363,285)
Repurchase and retirement of shares (note 10) (in shares)	(308,416)				(308,416)
Repurchase and retirement of shares (note 10)	$ (420,639)	(6,759,618)			$ (7,180,257)
Income tax effect related to stock options exercised		859,111			859,111
Stock-based compensation (note 11)		799,434			799,434
Net income			16,067,154		16,067,154
Accretion of redeemable non-controlling interest in Ting Virginia, LLC. (note 3)			(49,492)		(49,492)
Other comprehensive income (loss)				1,208,606	1,208,606
Balances (in shares) at Dec. 31, 2016	10,461,574
Balances at Dec. 31, 2016	$ 14,460,500	2,857,921	20,399,511	99,154	$ 37,817,086
Exercise of stock options (in shares)	172,759				172,759
Exercise of stock options	$ 907,661	(686,074)			$ 221,587
Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration (in shares)	(50,454)				(50,454)
Shares deducted from exercise of stock options for payment of witholding taxes and exercise consideration		(1,461,651)			$ (1,461,651)
Repurchase and retirement of shares (note 10) (in shares)
Repurchase and retirement of shares (note 10)
Stock-based compensation (note 11)		1,456,572			1,456,572
Net income			22,326,594		22,326,594
Accretion of redeemable non-controlling interest in Ting Virginia, LLC. (note 3)			(50,300)		(50,300)
Other comprehensive income (loss)				(99,154)	(99,154)
Balances (in shares) at Dec. 31, 2017	10,583,879
Balances at Dec. 31, 2017	$ 15,368,161	$ 2,166,768	$ 42,675,805		$ 60,210,734

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating activities:
Net income for the year	$ 22,326,594	$ 16,067,154	$ 11,373,730
Items not involving cash:
Depreciation of property and equipment	3,727,822	1,823,683	1,404,296
Loss on write off of property and equipment	16,951
Amortization of debt discount and issuance costs	273,010	31,166
Amortization of intangible assets	8,399,936	953,174	262,726
Impairment of indefinite life intangible asset	111,251	42,673	206,116
Deferred income taxes (recovery)	(3,336,824)	1,194,232	134,861
Excess tax benefits on share-based compensation expense	(2,796,171)	859,111	3,431,017
Amortization of deferred rent	5,712	24,729	27,449
Loss on disposal of domain names	290,793	29,691	24,066
Other income	(515,280)	(515,280)	(85,872)
Loss (gain) on change in the fair value of forward contracts	17,328	(322,732)	136,276
Stock-based compensation	1,456,572	799,434	526,025
Change in non-cash operating working capital:
Accounts receivable	1,009,620	(3,754,234)	(220,188)
Inventory	(1,733,457)	(307,014)	(442,806)
Prepaid expenses and deposits	(1,642,016)	(1,182,765)	(1,282,054)
Prepaid domain name registry and ancillary services fees	4,030,485	(4,640,923)	630,653
Income taxes recoverable	(426,068)	3,176,532	(2,321,345)
Accounts payable	(3,825,526)	390,887	249,931
Accrued liabilities	(1,274,773)	1,243,219	1,691,356
Customer deposits	1,084,933	281,713	675,182
Deferred revenue	4,933,478	6,255,027	366,273
Accreditation fees payable	(237,730)	59,331	(10,664)
Net cash provided by operating activities	31,896,640	22,508,808	16,777,028
Financing activities:
Proceeds received on exercise of stock options	221,587	146,390	803,136
Payment of tax obligations resulting from net exercise of stock options	(1,461,651)	(363,285)	(1,306,981)
Repurchase of common stock		(7,180,257)	(23,616,286)
Proceeds received on loan payable	86,998,000	16,989,583	3,500,000
Repayment of loan payable	(19,975,574)	(9,758,276)
Payment of loan payable costs	(620,217)	(513,665)
Net cash provided by (used in) financing activities	65,162,145	(679,510)	(20,620,131)
Investing activities:
Additions to property and equipment	(12,934,872)	(7,917,822)	(2,967,360)
Proceeds on waiver of rights to .online registry			6,619,831
Remaining payment for the acquisition of Ting Virginia, LLC., net of cash of $21,423			(357,492)
Acquisition of a portion of the minority interest in Ting Virginia, LLC (note 3(a))	(2,000,000)
Acquisition of Enom Incorporated, net of cash (note 3(b))	(76,237,460)
Acquisition of intangible assets	(2,942,364)	(6,529,654)
Net cash used in investing activities	(94,114,696)	(14,447,476)	3,294,979
Increase in cash and cash equivalents	2,944,089	7,381,822	(548,124)
Cash and cash equivalents, beginning of period	15,105,075	7,723,253	8,271,377
Cash and cash equivalents, end of period	18,049,164	15,105,075	7,723,253
Supplemental cash flow information:
Interest paid	3,587,554	420,298	173,197
Income taxes paid, net	7,815,208	3,766,664	3,132,105
Supplementary disclosure of non-cash investing and financing activities:
Property and equipment acquired during the period not yet paid for	$ 213,836	$ 446,821	$ 217,198

Consolidated Statements of Cas8

Consolidated Statements of Cash Flows (Parentheticals)	12 Months Ended
	Dec. 31, 2015USD ($)
Net cash	$ 21,423

Note 1 - Organization of the Co

Note 1 - Organization of the Company	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Tucows Inc. (the “Company”) provides simple useful services that help people unlock the power of the Internet. The Company provides US consumers and small businesses with mobile phone services nationally and high-speed fixed Internet access in selected towns. The Company is also a global distributor of Internet services, including domain name registration, digital certificates, and email. It provides these services primarily through a global Internet-based distribution network of Internet Service Providers, web hosting companies and other providers of Internet services to end-users.

Note 2 -Significant Accounting

Note 2 -Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are stated in U.S. dollars, except where otherwise noted. (a) Basis of presentation These consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated on consolidation. The Company has reclassified certain prior period income statement amounts and related notes to conform to the financial statement presentation adopted in the current year. As a result of these reclassifications, there were no (b) Use of estimates The preparation of the consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, management evaluates its estimates, including those related to amounts recognized for carrying values of revenues, bad debts, goodwill and intangible assets which require estimates of future cash flows and discount rates, income taxes, contingencies and litigation, and estimates of credit spreads for determination of the fair value of derivative instruments. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances at the time they are made. Under different assumptions or conditions, the actual results will differ, potentially materially, from those previously estimated. Many of the conditions impacting these assumptions and estimates are outside of the Company’s control. (c) Cash and cash equivalents All highly liquid investments, with an original term to maturity of three (d) Inventory Inventory primarily consists of mobile devices , mobile sim cards and related accessories, and Internet optical network terminals and are stated at the lower of cost or net realizable value. Cost is determined based on actual cost of the mobile device, accessory shipped or optical network terminals. The net realizable value of inventory is analyzed on a regular basis. This analysis includes assessing obsolescence, sales forecasts, product life cycle, marketplace and other considerations. If assessments regarding the above factors adversely change, we may (e) Property and equipment Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is provided on a straight-line basis so as to depreciate the cost of depreciable assets over their estimated useful lives at the following rates: Rate Asset Computer equipment 30% Computer software 33 1/3 - 100% Furniture and equipment 20% Vehicles and tools 20% Fiber network (years) 15 Customer equipment and installations (years) 3 Leasehold improvements Over term of lease Assets under construction N/A The Company reviews the carrying values of its property and equipment for potential impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not Additions to the fiber network are recorded at cost, including all material, labor, vehicle and installation and construction costs and certain indirect costs associated with the construction of cable transmission and distribution facilities. While the Company ’s capitalization is based on specific activities, once capitalized, costs are tracked by fixed asset category at the fiber network level and not (f) Derivative Financial Instruments The Company uses derivative financial instruments to manage foreign currency exchange risk. The Company accounts for these instruments in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 815, 815" 815 For certain contracts, the Company has not The fair value of the forward exchange contracts is determined using an estimated credit adjusted mark-to-market valuation which takes into consideration the Company's and the counterparty's credit risk. The valuation technique used to measure the fair values of the derivative instruments is a discounted cash flow technique, with all significant inputs derived from or corroborated by observable market data, as no (g) Goodwill and Other Intangible assets Goodwill Goodwill represents the excess of purchase price over the fair values assigned to the net assets acquired in business combinations. The Company does not fourth two The Company performs a qualitative assessment to determine whether there are events or circumstances which would lead to a determination that it is more likely than not not not no may In performance of the quantitative test, the Company uses a discounted cash flow or income approach in which future expected cash flows at the operating segment level are converted to present value using factors that consider the timing and risk of the future cash flows. The estimate of cash flows used is prepared on an unleveraged debt-free basis. The discount rate reflects a market-derived weighted average cost of capital. The Company believes that this approach is appropriate because it provides a fair value estimate based upon the Company ’s expected long-term operating and cash flow performance for its operating segment. The projections are based upon the Company’s best estimates of projected economic and market conditions over the related period including growth rates, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, terminal value margin rates, future capital expenditures and changes in future working capital. If assumptions and estimates used to allocate the purchase price or used to assess impairment prove to be inaccurate, future asset impairment charges could be required. Intangibles Assets not Intangible assets not no -evaluates the useful life determination for domain names in the portfolio each year to determine whether events and circumstances continue to support an indefinite useful life. The Company reviews individual domain names in the portfolio for potential impairment throughout the fiscal year in determining whether a particular name should be renewed. Impairment is recognized for names that are not fourth not Intangible Assets subject to amortization Intangible assets subject to amortization, consist of brand, customer relationships, technology and network rights and are amortized on a straight-line basis over their estimated useful lives as follows: (in years) Technology 2 Brand 7 Customer relationships 4 - 7 Network rights 15 The Company continually evaluates whether events or circumstances have occurred that indicate the remaining estimated useful lives of its intangible assets subject to amortization may may not (h) Revenue recognition The Company ’s revenues are derived from domain name registration fees on both a wholesale and retail basis, the sale of domain names, the provisioning of other Internet services and advertising revenue. Amounts received in advance of meeting the revenue recognition criteria described below are recorded as deferred revenue. (i) Domain Services The Company earns registration fees in connection with each new, renewed and transferred-in registration and from providing provisioning of other Internet services to resellers and registrars on a monthly basis. Service has been provided in connection with registration fees once the Company has confirmed that the requested domain name has been appropriately recorded in the registry under contractual performance standards. Domain names are generally purchased for terms of one ten The Company is an ICANN accredited registrar. Thus, the Company is the primary obligor with our reseller and retail registrant customers and are responsible for the fulfillment of our registrar services to those parties. As a result, the Company reports revenue in the amount of the fees we receive directly from our reseller and retail registrant customers. Our reseller customers maintain the primary obligor relationship with their retail customers, establish pricing and retain credit risk to those customers. Accordingly, the Company does not For arrangements with multiple deliverables, the Company allocates revenue to each deliverable if the delivered item(s) has value to the customer on a standalone basis and, if the arrangement includes a general right of return relative to the delivered item, delivery or performance of the undelivered item(s) is considered probable and substantially in the control of the Company. The fair value of the selling price for a deliverable is determined using a hierarchy of ( 1 2 third 3 Revenue generated from the sale of domain names, earned from transferring the rights to domain names under the Company ’s control, are recognized once the rights have been transferred and payment has been received in full, except where a fixed contract has been negotiated, in which case revenues are recognized once all the terms of the contract have been satisfied. The Company also generates advertising and other revenue through its online libraries of shareware, freeware and online services presented on its website. Advertising revenue includes revenue derived from cost per action advertising links we display on third ’s Portfolio Domains. In addition, the Company uses third Impression based advertising revenue and other revenues are recognized ratably over the period in which it is presented. To the extent that minimum guaranteed impressions are not (ii) Network Access Services The Company derives revenues from the provisioning of mobile phone and fixed Internet access services primarily through its Ting website. These revenues are recognized once services have been provided. Revenues for wireless services are billed based on the actual amount of monthly services utilized by each customer during their billing cycle on a postpaid basis. Revenues for fixed Internet access services are billed on a fixed monthly basis based on the service plan selected. The Company ’s billing cycle for each customer is computed based on the customer’s activation date. As a result, the Company estimates the amount of revenues earned but not In those cases, where payment is not no The Company establishes provisions for possible uncollectible accounts receivable and other contingent liabilities which may ’s expectations and the provisions the Company has established have been appropriate. However, the Company has, on occasion, experienced issues which have led to accounts receivable not may (i) Deferred revenue Deferred revenue primarily relates to the unearned portion of revenues received in advance related to the unexpired term of registration fees from domain name registrations and other domain related Internet services, on both a wholesale and retail basis, net of external commissions. (j) Accreditation fees payable In accordance with ICANN rules, the Company has elected to pay ICANN fees incurred on the registration of Generic Top-Level Domains on an annual basis. Accordingly, accreditation fees that relate to registrations completed prior to ICANN rendering a bill are accrued and reflected as accreditation fees payable. (k) Prepaid domain name registry fees Prepaid domain name registry and other Internet services fees represent amounts paid to registries, and country code domain name operators for updating and maintaining the registries, as well as to suppliers of other Internet services. Domain name registry and other Internet services fees are recognized on a straight-line basis over the life of the contracted registration term. (l) Translation of foreign currency transactions The Company ’s functional currency is the United States dollar. Monetary assets and liabilities of the Company and of its wholly owned subsidiaries that are denominated in foreign currencies are translated into United States dollars at the exchange rates prevailing at the balance sheet dates. Non-monetary assets and liabilities are translated at the historical exchange rates. Transactions included in operations are translated at (m) Income taxes 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 and operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in net income in the year that includes the enactment date. A valuation allowance is recorded if it is not not” The Company recognizes the impact of an uncertain income tax position at the largest amount that is more-likely-than- not not 50% 12 months of the reporting date. The Company is entitled to earn investment tax credits (“ITCs”), which are credits related to specific qualifying expenditures as prescribed by Canadian Income Tax legislation. These ITCs relate primarily to research and development expenses. The ITCs are recognized as a reduction in income tax expense once the Company has reasonable assurance that the amounts will be realized. (n) Stock-based compensation Stock-based compensation expense recognized during the period is based on the value of the portion of stock-based payment awards that is ultimately expected to vest, reduced for estimated forfeitures. (o) Earnings per common share Basic earnings per common share has been calculated on the basis of net income for the year divided by the weighted average number of common shares outstanding during each year. Diluted earnings per share gives effect to all dilutive potential common shares outstanding at the end of the year assuming that they had been issued, converted or exercised at the later of the beginning of the year or their date of issuance. 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 the exercise of options. (p) Concentration of credit risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, accounts receivable and forward foreign exchange contracts. Cash equivalents consist of deposits with major commercial banks, the maturities of which are three not not (q) Fair value measurement Fair value of financial assets and liabilities is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The three Level 1 —Quoted prices in active markets for identical assets or liabilities Level 2 —Observable inputs other than quoted prices in active markets for identical assets and liabilities Level 3 —No Financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurements. Our assessment of the significance of a particular input to the fair value measurements requires judgment, and may The fair value of cash and cash equivalents, accounts receivable, accounts payable, accreditation fees payable, customer deposits and accrued liabilities (level 2 The fair value of the derivative financial instruments is determined using an estimated credit-adjusted mark-to-market valuation (a level 2 (r) Investments The Company accounts for investment in entities over which they have ability to exert significant influence, but do not not not ( s ) Segment reporting The Company operates in two The Company ’s Domain Services revenues are attributed to the country in which the contract originates. Revenues from domain names issued under the OpenSRS brand from the Toronto, Canada location are attributed to Canada because it is impracticable to determine the country of the customer. Revenues from domain names issued under the eNom brand from the Kirkland, Washington location are attributable to the United States because it is impracticable to determine the country of the customer. The Company’s Network Access Services which consist primarily of mobile telephony services, as well as the provisioning of high speed Internet access, Internet hosting and consulting services, which are generated primarily through its business operations in the United States. The Company ’s assets are located in Canada, the United States and Germany. ( t ) Recent Accounting Pronouncements Recent Accounting Pronouncements Adopted On January 1, 2017, No. 2016 05, Derivatives and Hedging (Topic 815 2015 16, Simplifying the Accounting for Measurement-Period Adjustments. not In January 2017, No. 2017 04, Intangibles – Goodwill and Other (Topic 350 2017 01” two second one not December 31, 2017. On January 1, 2017, No. 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 $2.8 December 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 not 2016 09 January 1, 2017, Recent Accounting Pronouncements Not In January 2017, No. 2017 01, Business Combinations (Topic 805 2017 01" not not first second December 15, 2017. 2017 01 In May 2014, 2014 09, 606 ("ASU 2014 09" 2014 09 July 2015, December 15, 2017 ( may The Company will adopt ASU 2014 09 first 2018 not Domain Services: Most of the Company’s contracts related to Domain Services would individually be considered single “performance obligations” measured over the period of service, which is consistent with the revenue recognition policy under US GAAP. Network Access : The vast majority of revenue generated by the Network Access segment is related to mobile service contracts. Billings and “performance obligations” related to mobile service contracts are synchronized because mobile services are offered exclusively on a month-to-month basis without long-term commitments, device subsidization or financing arrangements embedded in the mobile service contract. However, the Company does expect to recognize changes related to Contract Acquisition costs related to certain retail Domain and Network Access sales. Topic 606 one The Company will continue to assess the impact of Topic 606 2018, may 606. In August 2017, No. 2017 12, Derivatives and Hedging (Topic 815 2017 12” December 15, 2018. 2017 12 In February 2016, No. 2016 02, Leases (Topic 842 2016 02 January 2018, No. 2018 02, Leases (Topic 842 842. December 15, 2018 ( January 1, 2019 first 2019 2016 02

Note 3 - Acquisitions

Note 3 - Acquisitions	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Business Combination Disclosure [Text Block]	3. (a) Blue Ridge Websoft On February 27, 2015, one ’s wholly owned subsidiaries, acquired a 70% $3.5 On February 1, 2017, 20% $2.0 $2.0 not 10% fourth February 27, 2019), interest for $120,000 The Company has determined that the put option is embedded within the non-controlling interest shares that are subject to the put options. The redemption feature requires classification of the Minority Shareholders ’ Interest in the Consolidated Balance Sheets outside of equity under the caption “Redeemable non-controlling interest”. As at December 31, 2017, $1.1 $1.2 February 27, 2019. On February 13, 2018, 10% 17 (b) eN om, Incorporated On January 20, 2017, 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 (“eNom”), 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 8 The Company has prepared a final 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 reflects the final appraisals, valuations and analyses of the fair value of the acquired assets and assumed liabilities. The following table shows the final allocation of the purchase price for eNom to the acquired identifiable assets and liabilities assumed: Goodwil l $ 69,048,340 Cas h 1,594,217 Bran d 12,400,000 Developed technolog y 3,900,000 Customer relationship s 28,000,000 Prepaid domain registry fee s 70,643,994 Other asset s 10,170,789 Total asset s 195,757,340 Deferred Revenu e (77,798,994 ) Deferred Tax Liabilitie s (24,223,276 ) Other liabilitie s (15,903,393 ) Total liabilitie s (117,925,663 ) Consideration Pai d $ 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 In connection with this acquisition, the Company incurred total acquisition related costs of $0.3 December 31, 2017 ( 2016: $0.5 The amount of eNom ’s revenues and net income included in our Consolidated Statements of Comprehensive Income for the year ended December 31, 2017 $110.8 $5.1 not The following table presents selected unaudited pro forma information for the Company assuming the acquisition of eNom had occurred as of January 1, 2016. not ’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. Unaudite d Twelve months ended December 31 , 201 7 201 6 Net revenue s $ 333,882,963 $ 338,591,378 Net incom e 21,954,421 2,175,915 Basic earnings per common shar e 2.09 0.21 Diluted earnings per common shar e $ 2.04 $ 0.21

Note 4 - Property and Equipment

Note 4 - Property and Equipment	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	4. Property and equipment consist of the following: December 31, 201 7 December 31, 201 6 Computer equipment $ 12,312,120 $ 8,122,420 Computer software 1,449,480 1,277,972 Furniture and equipment 1,308,171 1,168,691 Vehicles and tools 1,305,900 830,543 Fiber network 14,052,618 7,095,971 Customer equipment and installations 6,774,031 3,889,581 Leasehold improvements 170,619 110,453 37,372,939 22,495,631 Less: Accumulated depreciation 12,752,641 9,045,193 $ 24,620,298 $ 13,450,438 Depreciation of property and equipment: Year ended December 31, 201 7 Year ended December 31, 201 6 Year ended December 31, 201 5 Depreciation of property and equipment $ 3,727,822 $ 1,823,683 $ 1,404,296 During the year ended December 31, 201 7, $16,951 December 31, 2016 2015, no

Note 5 - Goodwill and Other Int

Note 5 - Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5. 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 $90.1 December 31, 2017, $69.0 December 31, 2016, 3 98% $88.0 2% $2.1 Goodwill is not 2 no 201 7 2016 Other Intangible Assets: Intangible assets consist of acquired brand, technology, customer relationships, surname domain names, direct navigation domain names and network rights. The Company considers its intangible assets consisting of surname domain names and direct navigation domain names as indefinite life intangible assets. The Company has the exclusive right to these domain names as long as the annual renewal fees are paid to the applicable registry. Renewals occur routinely and at a nominal cost. The indefinite life intangible assets are not 2017, June 2006 not December 31, 2017, $0.1 not December 31, 2016 $42,673, not $0.2 December 31, 2015. Intangible assets, comprising brand, technology, customer relationships and network rights are being amortized on a straight-line basis over periods of four fifteen On January 20, 2017, , a wholesale and retail domain registrar. The Company acquired the assets and liabilities of eNom including wholesale and retail brands, proprietary technology and the existing customer relationships. The Company has accounted for these on a fair value basis and each intangible asset is being amortized over the estimated useful life. The amortization for the brands, technology and customer relationships are 7, 2 7 3 On September 19, 2017, $2. 6 $1.4 7 In Fiscal 201 7, two $0.3 7 Acquired intangible assets consist of the following: 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, 2015 $ 11,339,355 $ 1,897,318 $ 79,670 $ 499,854 $ - $ 653,480 $ 14,469,677 Acquisition of customer relationships - - - 6,529,654 - - 6,529,654 Additions to/(disposals from) domain portfolio, net (6,166 ) (23,525 ) - - - - (29,691 ) Impairment of indefinite life intangible assets (37,968 ) (4,705 ) - - - - (42,673 ) Amortization expense - - (74,460 ) (830,697 ) - (48,017 ) (953,174 ) 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 (note 3(b)) - - 12,400,000 28,000,000 3,900,000 - 44,300,000 Acquisition of consumer related assets of Otono Networks, Inc. - - - 2,622,670 - - 2,622,670 Acquisition of customer relationships - - - 319,694 - - 319,694 Additions to/(disposals from) domain portfolio, net (38,291 ) (252,501 ) - - - - (290,792 ) Impairment of indefinite life intangible assets - (111,251 ) - - - - (111,251 ) Amortization expense - - (1,656,040 ) (4,910,268 ) (1,787,500 ) (46,128 ) (8,399,936 ) Balances December 31, 2017 $ 11,256,930 $ 1,505,336 $ 10,792,790 $ 32,185,398 $ 2,112,500 $ 561,224 $ 58,414,178 The following table shows the estimated amortization expense for each of the next 5 no intangible assets are made: Year ending December 31, 201 8 $ 9,246,620 201 9 7,335,572 20 20 7,173,072 202 1 7,173,072 202 2 7,173,072 Thereafter 7,550,504 Total $ 45,651,912

Note 6 - Fair Value Measurement

Note 6 - Fair Value Measurement	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	6. For financial assets and liabilities recorded in our financial statements at fair value we utilize a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three 1 2 3 The following table provides a summary of the fair values of the Company ’s derivative instruments measured at fair value on a recurring basis as at December 31, 2017: December 31, 201 7 Fair Value Measurement Using Assets at Level 1 Level 2 Level 3 Fair Value Derivative instrument asset $ — $ — $ — $ — Total Assets $ — $ — $ — $ — The following table provides a summary of the fair values of the Company ’s derivative instruments measured at fair value on a recurring basis as at December 31, 2016: December 31, 201 6 Fair Value Measurement Using Liabilities at Level 1 Level 2 Level 3 Fair Value Derivative instrument liability $ — $ 172,888 $ — $ 172,888 Total Liabilities $ — $ 172,888 $ — $ 172,888

Note 7 - Derivative Instruments

Note 7 - Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	7. Foreign currency forward contracts In October 2012, not one eighteen The Company has designated certain of these transactions as cash flow hedges of forecasted transactions under ASC Topic 815. 815, December 31, 2017 2016, no As of December 31, 201 7, not December 31, 2016, $26.6 $24.0 815 Fair value of derivative instruments and effect of derivative instruments on financial performance The effect of these derivative instruments on our consolidated financial statements as of, and for the year ended December 31, 2017 2016, not Fair value of derivative instruments in the consolidated balance sheets (see note 6 Derivatives Balance Sheet Location December 31, 201 7 Assets at Fair Value December 31, 201 6 Assets at Fair Value Foreign currency forward contracts designated as cash flow hedges Derivative instruments $ — $ 155,560 Foreign currency forward contracts not designated as cash flow hedges Derivative instruments $ — $ 17,328 Total foreign currency forward contracts Derivative instruments $ — $ 172,888 Movement in AOCI balance for the year ended December 31, 201 7 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 863,425 (313,078 ) 550,347 Amount reclassified from accumulated other comprehensive income (1,018,985 ) 369,484 (649,501 ) Other comprehensive income (loss) for the year ended December 31, 201 7 (155,560 ) 56,406 (99,154 ) Ending AOCI balance – December 31, 2017 $ — $ — $ — Movement in AOCI balance for the year ended December 31, 201 6 Gains and losses on cash flow hedges Tax impact Total AOCI Opening AOCI balance – December 31, 2015 $ (1,721,683 ) $ 612,231 $ (1,109,452 ) Other comprehensive income (loss) before reclassifications 871,925 (304,109 ) 567,816 Amount reclassified from accumulated other comprehensive income 1,005,318 (364,528 ) 640,790 Other comprehensive income (loss) for the year ended December 31, 2016 1,877,243 (668,637 ) 1,208,606 Ending AOCI balance – December 31, 2016 $ 155,560 $ (56,406 ) $ 99,154 Movement in AOCI balance for the year ended December 31, 201 5 Gains and losses on cash flow hedges Tax impact Total AOCI Opening AOCI balance – December 31, 2014 $ (946,676 ) $ 324,235 $ (622,441 ) Other comprehensive income (loss) before reclassifications (3,171,740 ) 1,140,275 (2,031,465 ) Amount reclassified from accumulated other comprehensive income 2,396,733 (852,279 ) 1,544,454 Other comprehensive income (loss) for the year ended December 31, 2015 (775,007 ) 287,996 (487,011 ) Ending AOCI balance – December 31, 2015 $ (1,721,683 ) $ 612,231 $ (1,109,452 ) Effects of derivative instruments on income and other comprehensive income (OCI) 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 Foreign currency forward contracts – year ended December 31, 2017 Operating expenses $ 878,519 $ (99,154 ) Cost of revenues $ 140,466 Operating expenses $ - Operating expenses $ (736,616 ) Foreign currency forward contracts – year ended December 31, 2016 $ 1,208,606 Cost of revenues $ (221,460 ) Operating expenses $ (47,242 ) Operating expenses $ (1,870,818 ) Foreign currency forward contracts – year ended December 31, 2015 $ (487,011 ) Cost of revenues $ (525,916 ) Operating expenses $ (294,113 ) In addition to the above, for those foreign currency forward contracts not gain of $0.1 no December 31, 2017. $0.2 $0.3 December 31, 2016, $0.5 $0.1 December 31, 2015,

Note 8 - Loan Payable

Note 8 - Loan Payable	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	8. 2017 On January 20, 2017, and restated secured Credit Agreement (the “2017 $140 2016 $40.0 $35.5 $84.5 (the “Facility D”). The Company immediately drew down $84.5 3 “2016 established under the Company’s secured credit agreement (the “2016 August 18, 2016. In connection with the 2017 $0.6 The obligations of the Company under the 2017 first The 2017 four 2017 Amended Credit Facility, the Company has access to an aggregate of up to $140 ● a $5 ● a $15 ● a $35.5 million non-revolving facility (“Facility C”); and ● a $ 84.5 Borrowings under the 2017 ’s Total Funded Debt to EBITDA as described below. The purpose of Facility A is for general working capital and general corporate requirements, while Facility B and Facility C support share repurchases, acquisitions and capital expenditures associated with the Company’s Fiber to the Home program (“FTTH”). Facility D was provided and used for the acquisition of eNom. The repayment terms for Facility A require monthly interest payments with any final principal payment becoming due upon maturity of the 2017 December 31st of each year, balances drawn during the year that remain outstanding will become payable on a quarterly basis commencing the first first four five seven 2017 2.25:1 December 31 50% The 2017 covenants, and events of default. The 2017 four 3.00:1 September 30, 2017, 2.50:1 September 30, 2018 2.25:1 1.20:1. $32.8 not $20 $40 not 1.5 twelve December 31, 2017, On June 6, 2017, the Company entered into the First Amendment to First Amended and Restated Credit Agreement (the “First Amendment”) with BMO and the Lenders. Among other things, the First Amendment (i) increases the amount available for borrowing under “Facility C,” a committed, non-revolving credit facility by $502,500, not On December 5, 2017, may $5,000,000 On January 24, 2018, 17 Borrowings under the 2017 If Total Funded Debt to EBITDA is : Availment type or fe e Less than 1.0 0 Greater than or equal to 1.00 and less than 2.0 0 Greater than or equal to 2.00 and less than 2.2 5 Greater than or equal to 2.2 5 Canadian dollar borrowings based on Bankers ’ Acceptance or U.S. dollar borrowings based on LIBOR (Margin) 2.00% 2.25% 2.75% 3.25% Canadian or U.S. dollar borrowings based on Prime Rate or U.S. dollar borrowings based on Base Rate (Margin ) 0.75% 1.00% 1.50% 2.00% Standby fees 0.40% 0.45% 0.55% 0.65% The following table summarizes the Company ’s borrowings under the credit facilities: December 31, 2017 December 31, 2016 Facility B - $ 6,000,000 Facility C 5,930,338 4,731,306 Facility D 71,823,300 - Less: unamortized debt discount and issuance costs (829,611 ) (482,498 ) Total loan payable 76,924,027 10,248,808 Less: loan payable, current portion 18,289,853 2,233,110 Loan payable, long-term portion 58,634,174 $ 8,015,698 The following table summarizes our scheduled principal repayments as of December 31, 2017: Principal repayments 2018 18,289,853 2019 18,289,853 2020 18,103,004 2021 17,542,457 2022 4,867,757 Thereafter 660,714 $ 77,753,638 Other Credit Facilities Prior to the Company entering into the 2016 November 19, 2012, two “2012 2016 2012 2012 2016 The treasury risk management facility under the Amended Credit Facility provides for a $3.5 may not 18 December 31, 2017, nil 7 During fiscal 2017, $1.0 CDN$0.5

Note 9 - Income Taxes

Note 9 - Income Taxes	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	9. The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate of 34% : Year ended December 31, 2017 2016 2015 Income for the year before provision for income taxes $ 24,074,768 $ 25,112,924 $ 17,942,957 Computed tax expense 8,185,420 8,538,245 6,100,605 Increase (reduction) in income tax expense resulting from: State income taxes 656,603 530,803 265,489 Effect of the decrease in Federal tax rate on deferred taxes (10,036,080 ) - - Valuation allowance on pre-2017 Foreign Tax Credits 1,275,937 - - Non-creditable 2017 Foreign Tax 2,903,400 - - Excess tax benefits on share-based compensation expense (2,796,171 ) - - Permanent differences 1,635,611 290,327 278,959 Others (76,546 ) (313,605 ) (75,826 ) Provision for income taxes $ 1,748,174 $ 9,045,770 $ 6,569,227 On December 22, 2017, not 1 the U.S. federal corporate tax rate from 35% 21% 2 December 31, 2017; ( 3 4 5 6 We have calculated, as a provisional estimate, a net $5.8 ion non-cash tax benefit through income from continuing operations for the re-measurement impact related to the changes in tax laws included in the Tax Act. The primary driver of this re-measurement was the result of the reduction in the corporate tax rate from 35% 21% $10.0 $1.3 no not 21% 21% 2017 2017 $2.9 one $0.1 On December 22, 2017, not 2017 may December 31, 2017. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities as of December 31, 2017, 2016 December 31, 201 7 December 31, 201 6 Deferred tax assets (liabilities) : Deferred tax assets : Deferred revenu e $ 7,573,276 $ 5,482,080 Foreign tax credit s 1,275,937 1,275,937 Amortizatio n (1,936,615 ) (2,184,944 ) Net operating losse s 2,544,862 - Accruals, including foreign exchange and othe r 517,493 1,135,652 Sub-total Deferred tax asset s 9,974,953 5,708,725 Valuation allowance (1,275,937 ) - Total deferred tax asset s $ 8,699,016 $ 5,708,725 Deferred tax liabilities : Prepaid registry fees and expense s $ (18,051,222 ) $ - Limited life intangible asset s (7,371,264 ) (120,232 ) Indefinite life intangible asset s (3,110,208 ) (4,706,960 ) Total deferred tax liability $ (28,532,694 ) $ (4,827,192 ) Net deferred tax asset (liability ) $ (19,833,678 ) $ 881,533 In connection with the eNom acquisition, we acquired deferred tax liabilities primarily composed of prepaid registry fees. As a result, we aligned our tax methodology pertaining to the deductibility of prepaid registry fees for our legacy domain services. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not We believe it is more likely than not The Company had approximately $15,000 December 31, 2017, $0.1 December 31, 2016, The Company recognizes accrued interest and penalties related to unrecognized tax benefits in tax expense. The Company did not December 31, 2017, December 31, 2016. Unrecognized tax benefits decreased by $0.1 tax authorities finalized their review and settled prior years’ taxes owing in Pennsylvania. The following is a reconciliation of Tucows ’ change in uncertain tax position: Total Gross Unrecognized Tax Benefits December 31, 201 7 December 31, 201 6 Balance, beginning of year $ 117,000 $ 117,000 Change in uncertain tax benefits (102,000 ) — Balance, end of year $ 15,000 $ 117,000

Note 10 - Common Shares

Note 10 - Common Shares	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	10. The Company ’s authorized common share capital is 250 December 31, 2017, 10,583,879 2016: 10,461,574 Repurchase of common shares: (a) Normal Course Issuer Bids: On February 14, 2018, $40 17 On March 1, 2017, $40 Under this buyback program, the Company may $40 No February 14, 2018. On February 9, 2016, may $40 February 10, 2016 February 9, 2017. 308,416 December 31, 2016 $7.2 On February 11, 2015, may $20 million of the Company's common stock over the 12 February 11, 2015. 231,047 three December 31, 2015 $5.4 868,549 December 31, 2015 $20.0 (b) Modified Dutch Tender Offers: On January 7, 2015, December 2014. 193,907 $18.50 $3.6 $0.1 (c ) Net Exercise of Stock Options Our current equity-based compensation plans include provisions that allow for the “net exercise” of stock options by all plan participants. In a net exercise, any required payroll taxes, federal withholding taxes and exercise price of the shares due from the option holder can be paid for by having the option holder tender back to the Company a number of shares at fair value equal to the amounts due. These transactions are accounted for by the Company as a purchase and retirement of shares and are included in the table on the following page as common stock received in connection with share-based compensation. The following table summarizes our share repurchase activity for the periods covered below: Year Ended December 31, 201 7 201 6 201 5 Common stock repurchased on the open market or through tender offer Number of shares — 308,416 1,062,456 Aggregate market value of shares (in thousands) $ — $ 7,180 $ 23,616 Average price per share $ — $ 23.28 $ 22.23 Common stock received in connection with share-based compensation Number of shares 50,454 25,572 99,675 Aggregate market value of shares (in thousands) $ 2,602 $ 634 $ 2,335 Average price per share $ 51.58 $ 24.80 $ 23.42

Note 11 - Share Option Plans

Note 11 - Share Option Plans	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	11. The Company ’s 1996 “1996 may 1996 2,787,500 1996 four 1996 February 25, 2006; no On November 22, 2006, 2006 “2006 July 29, 2010 1996 2006 2006 1.25 October 8, 2010, 2006 0.475 1.725 September 2015, 2006 0.75 2.475 2006 four not seven one five September 2015 2006 Our current equity-based compensation plans include provisions that allow for the “net exercise” of stock options by all plan participants. In a net exercise, any required payroll taxes, federal withholding taxes and exercise price of the shares due from the option holder can be paid for by having the option holder tender back to the Company a number of shares at fair value equal to the amounts due. These transactions are accounted for by the Company as a purchase and retirement of shares. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model. 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 Tucows Inc. common shares at the date of grant. The fair value of stock options granted during the years ended December 31, 2017, 2016 2015 Year ended December 31, 201 7 201 6 201 5 Volatility 41.6 % 66.1 % 44.1 % Risk-free interest rate 1.8 % 1.3 % 1.3 % Expected life (in years) 4.55 4.3 4.0 Dividend yield — % — % — % The weighted average grant date fair value for options issued, with the exercise price equal to market value on the date of grant $ 20.08 $ 11.18 $ 7.40 Details of stock option transactions are as follows: Year ended December 31, Year ended December 31, Year ended December 31, 201 7 201 6 201 5 Number of shares Weighted average exercise price per share Number of shares Weighted average exercise price per share Number of shares Weighted average exercise price per share Outstanding, beginning of period 474,501 $ 12.67 513,366 $ 9.24 976,062 $ 5.41 Granted 370,025 54.10 81,750 22.66 67,500 21.26 Exercised (172,759 ) 7.88 (109,963 ) 3.79 (517,998 ) 3.53 Forfeited (18,196 ) 37.70 (9,902 ) 16.80 (10,323 ) 13.30 Expired — — (750 ) 3.76 (1,875 ) 2.40 Outstanding, end of period 653,571 36.69 474,501 12.67 513,366 9.24 Options exercisable, end of period 243,771 $ 14.79 332,192 $ 10.08 321,155 $ 6.49 As of December 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 $ 2.92 - $ 8.92 91,133 $ 6.63 1.6 $ 5,779,404 91,133 $ 6.63 1.6 $ 5,779,404 $ 10.16 - $ 19.95 120,913 16.30 3.5 6,499,346 92,638 15.87 3.3 5,018,978 $ 21.10 - $ 27.53 81,000 23.65 4.2 3,758,393 55,000 24.61 3.8 2,499,313 $ 35.25 - $ 37.35 14,375 35.89 5.4 491,062 5,000 35.25 6.0 174,000 $ 43.15 - $ 47.00 18,500 44.19 6.1 478,400 — — — — $ 53.20 - $ 55.65 327,650 55.41 6.4 4,795,160 — — — — 653,571 $ 36.69 4.9 $ 21,801,765 243,771 $ 14.79 2.8 $ 13,471,695 Total unrecognized compensation cost relating to unvested stock options at December 31, 201 7, $6.5 3.0 The total intrinsic value of options exercised during the years ended December 31, 2017, 2016 2015 $7.6 $2.4 $9.6 December 31, 2017, 2016 2015 $0.2 $0.1 $0.8 The Company recorded stock-based compensation amounting to $1.5 $0.8 $0.5 December 31, 2017, 2016 2015 Year ended December 31, 2017 Year ended December 31, 2016 Year ended December 31, 2015 Network expenses $ 109,988 $ 21,704 $ 28,915 Sales and marketing 571,682 236,063 188,035 Technical operations and development 360,415 98,059 111,239 General and administrative 414,487 443,608 197,836 $ 1,456,572 $ 799,434 $ 526,025

Note 12 - Foreign Exchange

Note 12 - Foreign Exchange	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Foreign Currency Disclosure [Text Block]	12. A foreign exchange gain amounting to $0.7 December 31, 2017. $0.1 December 31, 2016. $0.3 December 31, 2015.

Note 13 - Other Income, Net

Note 13 - Other Income, Net	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Other Income and Other Expense Disclosure [Text Block]	13. In February 2015, d joint venture to operate the online registry and instead entered into a Joint Marketing agreement with our venture partners under which our original capital contributions have been returned and a set of go-forward marketing arrangements have been created instead. Under the terms of the agreement, the Company has undertaken to provide certain marketing support for online registry and has agreed to certain volume commitments during the term of the agreement. The Joint Marketing Agreement is for a term of three November 2015. $1.5 three $0.5 December 31, 2017 2016, $0.1 December 31, 2015.

Note 14 - Earnings Per Common S

Note 14 - Earnings Per Common Share	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	14. The following table reconciles the numerators and denominators of the basic and diluted earnings per common share computation: Year ended December 31, 201 7 Year ended December 31, 201 6 Year ended December 31, 201 5 Numerator for basic and diluted earnings per common share: Net income for the year $ 22,326,594 $ 16,067,154 $ 11,373,730 Denominator for basic and diluted earnings per common share: Basic weighted average number of common shares outstanding 10,537,356 10,524,856 10,968,500 Effect of stock options 256,266 188,739 391,584 Diluted weighted average number of shares outstanding 10,793,622 10,713,595 11,360,084 Basic earnings per common share $ 2.12 $ 1.53 $ 1.04 Diluted earnings per common share $ 2.07 $ 1.50 $ 1.00 Options to purchase 341,650 2017 2016: 76,750; 2015: 75,050 not

Note 15 - Commitments and Conti

Note 15 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	15. (a) The Company has several non-cancelable lease and purchase obligations primarily for general office facilities, service contracts for mobile telephone services and equipment that expire over the next ten Contractual Obligations for the year ending December 31, Contractual Lease Obligations Purchase Obligations Total Obligations 201 8 $ 1,989,000 $ 34,405,000 $ 36,394,000 201 9 1,569,000 12,121,000 13,690,000 20 20 1,119,000 553,000 1,672,000 202 1 455,000 31,000 486,000 202 2 348,000 28,000 376,000 Thereafter 1,857,000 227,000 2,084,000 $ 7,337,000 $ 47,365,000 $ 54,702,000 Rental expense under operating lease agreements was $1.9 $1.2 $1.0 December 31, 2017, 2016 2015, (b) On February 9, 2015 Under the agreement, the City will finance, construct, and maintain the WFN which will be leased to T ing for a period of ten Under the terms of the agreement, T ing may $50,000 $150,000 2016, $21.0 five 30 December 31, 2017, $7.5 not 2018. (c) In the normal course of its operations, the Company becomes involved in various legal claims and lawsuits. The Company intends to vigorously defend these claims. While the final outcome with respect to any actions outstanding or pending as of December 31, 2017 not Namecheap On August 30, 2017, Namecheap”) filed a complaint against the Company, eNom, Inc., and unknown John Does in the United States District Court for the Western District of Washington alleging breach of contract, breach of the implied duty of good faith and fair dealing, and unjust enrichment (the “Namecheap Federal Action”). Namecheap voluntarily dismissed the Namecheap Federal Action without prejudice on October 10, 2017. 2.65 November 15, 2017, one January 5, 2018 January 8, 2018 January 16, 2018. not

Note 16 - Segment Reporting

Note 16 - Segment Reporting	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 6 . 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. 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 not 2 Information by reportable segments, which is regularly reported to the chief operating decision maker is as follows: Network Access Domain Name Service s Consolidated Total s Year ended December 31, 201 7 Net Revenue s $ 88,710,902 $ 240,709,839 $ 329,420,741 Cost of revenue s Cost of revenue s 48,706,531 181,893,101 230,599,632 Network expense s 1,861,319 7,463,135 9,324,454 Depreciation of property and equipmen t 2,202,052 940,346 3,142,398 Amortization of intangible asset s 46,128 1,787,500 1,833,628 Total cost of revenue s 52,816,030 192,084,082 244,900,112 Gross Profi t 35,894,872 48,625,757 84,520,629 Expenses : Sales and marketin g 29,422,984 Technical operations and developmen t 7,257,720 General and administrativ e 13,593,901 Depreciation of property and equipmen t 585,424 Amortization of intangible asset s 6,566,308 Impairment of indefinite life intangible asset s 111,251 Loss (gain) on currency forward contract s (98,227 ) Income from operation s 27,081,268 Other income (expenses), ne t (3,006,500 ) Income before provision for income taxe s $ 24,074,768 Network Access Domain Name Service s Consolidated Total s Year ended December 31, 201 6 Net Revenue s $ 73,778,951 $ 116,039,981 $ 189,818,932 Cost of revenue s Cost of revenue s 37,939,683 82,247,279 120,186,962 Network expense s 1,398,899 3,811,601 5,210,500 Depreciation of property and equipmen t 977,395 342,424 1,319,819 Amortization of intangible asset s 48,017 - 48,017 Total cost of revenue s 40,363,994 86,401,304 126,765,298 Gross Profi t 33,414,957 29,638,677 63,053,634 Expenses : Sales and marketin g 20,754,752 Technical operations and developmen t 4,494,819 General and administrativ e 11,404,793 Depreciation of property and equipmen t 503,864 Amortization of intangible asset s 905,157 Impairment of indefinite life intangible asset s 42,673 Loss (gain) on currency forward contract s (98,977 ) Income from operation s 25,046,553 Other income (expenses), ne t 66,371 Income before provision for income taxe s $ 25,112,924 Network Access Domain Name Services Consolidated Totals Year ended December 31, 2015 Net Revenues $ 60,974,265 $ 110,712,514 $ 171,686,779 Cost of revenues Cost of revenues 34,133,569 78,847,116 112,980,685 Network expenses 698,960 4,765,817 5,464,777 Depreciation of property and equipment 447,644 697,344 1,144,988 Amortization of intangible assets 38,520 - 38,520 Total cost of revenues 35,318,693 84,310,277 119,628,970 Gross Profit 25,655,572 26,402,237 52,057,809 Expenses: Sales and marketing 17,394,376 Technical operations and development 4,502,845 General and administrative 10,661,949 Depreciation of property and equipment 259,307 Amortization of intangible assets 224,206 Impairment of indefinite life intangible assets 206,116 Loss on currency forward contracts 792,900 Income from operations 18,016,110 Other income (expenses), net (73,153 ) Income before provision for income taxes $ 17,942,957 (b) The following is a summary of the Company’s revenue earned from each significant revenue stream: Year ended December 31, 201 7 201 6 201 5 Network Access Services: Mobile Services $ 83,885,054 $ 70,127,294 $ 57,685,554 Other Services 4,825,848 3,651,657 3,288,711 Total Network Access Services 88,710,902 73,778,951 60,974,265 Domain Services: Wholesale Domain Services 183,731,385 89,009,546 84,934,519 Value Added Services 18,572,774 9,169,721 9,298,978 Total Wholesale 202,304,159 98,179,267 94,233,497 Retail 31,649,000 14,629,949 12,637,498 Portfolio 6,756,680 3,230,765 3,841,519 Total Domain Services 240,709,839 116,039,981 110,712,514 $ 329,420,741 $ 189,818,932 $ 171,686,779 During the years ended December 31, 2017, 2016 2015, no 10% December 31, 2017, 2016 2015 no 10% Transactions with the Company ’s equity investees generated revenue of approximately $4.9 December 31, 2017. (c) The following is a summary of the Company’s cost of revenues from each significant revenue stream: Year ended December 31, 201 7 201 6 201 5 Network Access Services: Mobile Services $ 45,335,276 $ 35,914,882 $ 32,615,416 Other Services 3,371,255 2,024,801 1,518,153 Total Network Access Services 48,706,531 37,939,683 34,133,569 Domain Services: Wholesale Domain Services 161,012,532 72,947,730 70,633,267 Value Added Services 2,383,627 1,918,165 2,023,341 Total Wholesale 163,396,159 74,865,895 72,656,608 Retail 17,346,138 6,765,237 5,494,550 Portfolio 1,150,804 616,147 695,958 Total Domain Services 181,893,101 82,247,279 78,847,116 Network Expenses: Network, other costs 9,324,454 5,210,500 5,464,777 Network, depreciation and amortization costs 4,976,026 1,367,836 1,183,508 14,300,480 6,578,336 6,648,285 $ 244,900,112 $ 126,765,298 $ 119,628,970 (d) The following is a summary of the Company’s property and equipment by geographic region: December 31, 201 7 December 31, 201 6 Canad a $ 1,176,371 $ 1,010,427 United State s 23,417,435 12,398,961 German y 26,492 41,050 $ 24,620,298 $ 13,450,438 (e) The following is a summary of the Company’s amortizable intangible assets by geographic region: December 31, 201 7 December 31, 201 6 Canad a $ 7,748,940 $ 5,850,596 United State s 37,783,202 633,798 German y 119,770 325,090 $ 45,651,912 $ 6,809,484 (f) The following is a summary of the Company’s deferred tax asset, net of valuation allowance, by geographic region: December 31, 201 7 December 31, 201 6 Canada $ - $ 5,708,725 $ - $ 5,708,725 (g) Valuation and qualifying accounts: Allowance for doubtful accounts excluding provision for credit note s Balance at beginning of perio d Charged to (recovered) costs and expense s Write-offs during perio d Balance at end of perio d Year ended December 31, 201 7 $ 164,145 $ 4,264 $ - $ 168,409 Year ended December 31, 201 6 $ 122,095 $ 42,050 $ - $ 164,145

Note 17 - Subsequent Events

Note 17 - Subsequent Events	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	17. a. On January 5, 2018, King County Superior court (Washington) granted Namecheap Inc. a preliminary injunction requiring the Company to bulk transfer 2.65 January 16, 2018. first 2018 $14.6 $14.5 b. On January 24, 2018, The Second Interim Amendment provides that certain defined terms in Section 1.01 not $3.0 c. On February 14, 2018, $40 February 14, 2018 February 13, 2019. $40 March 1, 2017 February 28, 2018 February 14, 2018. d. On February 13, 2018, 10% Virginia, LLC for $1.2 $1.2 10%

Note 18 - Selected Quarterly Fi

Note 18 - Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Quarterly Financial Information [Text Block]	18. December 31 September 30 June 30 March 31 (in thousands, except for per share data) 2017 Total revenues $ 90,621 $ 85,008 $ 84,223 $ 69,568 Gross profit 25,736 20,494 21,347 16,944 Net income 11,199 3,439 5,241 2,446 Earnings per share: Basic $ 1.06 $ 0.33 $ 0.50 $ 0.23 Diluted 1.04 0.32 0.49 0.23 2016 Total revenues $ 48,805 $ 49,064 $ 47,204 $ 44,746 Gross profit 16,423 16,638 15,645 14,348 Net income 2,817 4,741 4,071 4,438 Earnings per share: Basic $ 0.27 $ 0.45 $ 0.39 $ 0.42 Diluted 0.26 0.45 0.38 0.41

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	(a) Basis of presentation These consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated on consolidation. The Company has reclassified certain prior period income statement amounts and related notes to conform to the financial statement presentation adopted in the current year. As a result of these reclassifications, there were no
Use of Estimates, Policy [Policy Text Block]	(b) Use of estimates The preparation of the consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, management evaluates its estimates, including those related to amounts recognized for carrying values of revenues, bad debts, goodwill and intangible assets which require estimates of future cash flows and discount rates, income taxes, contingencies and litigation, and estimates of credit spreads for determination of the fair value of derivative instruments. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances at the time they are made. Under different assumptions or conditions, the actual results will differ, potentially materially, from those previously estimated. Many of the conditions impacting these assumptions and estimates are outside of the Company’s control.
Cash and Cash Equivalents, Policy [Policy Text Block]	(c) Cash and cash equivalents All highly liquid investments, with an original term to maturity of three
Inventory, Policy [Policy Text Block]	(d) Inventory Inventory primarily consists of mobile devices , mobile sim cards and related accessories, and Internet optical network terminals and are stated at the lower of cost or net realizable value. Cost is determined based on actual cost of the mobile device, accessory shipped or optical network terminals. The net realizable value of inventory is analyzed on a regular basis. This analysis includes assessing obsolescence, sales forecasts, product life cycle, marketplace and other considerations. If assessments regarding the above factors adversely change, we may
Property, Plant and Equipment, Policy [Policy Text Block]	(e) Property and equipment Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is provided on a straight-line basis so as to depreciate the cost of depreciable assets over their estimated useful lives at the following rates: Rate Asset Computer equipment 30% Computer software 33 1/3 - 100% Furniture and equipment 20% Vehicles and tools 20% Fiber network (years) 15 Customer equipment and installations (years) 3 Leasehold improvements Over term of lease Assets under construction N/A The Company reviews the carrying values of its property and equipment for potential impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not Additions to the fiber network are recorded at cost, including all material, labor, vehicle and installation and construction costs and certain indirect costs associated with the construction of cable transmission and distribution facilities. While the Company ’s capitalization is based on specific activities, once capitalized, costs are tracked by fixed asset category at the fiber network level and not
Derivatives, Policy [Policy Text Block]	(f) Derivative Financial Instruments The Company uses derivative financial instruments to manage foreign currency exchange risk. The Company accounts for these instruments in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 815, 815" 815 For certain contracts, the Company has not The fair value of the forward exchange contracts is determined using an estimated credit adjusted mark-to-market valuation which takes into consideration the Company's and the counterparty's credit risk. The valuation technique used to measure the fair values of the derivative instruments is a discounted cash flow technique, with all significant inputs derived from or corroborated by observable market data, as no
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	(g) Goodwill and Other Intangible assets Goodwill Goodwill represents the excess of purchase price over the fair values assigned to the net assets acquired in business combinations. The Company does not fourth two The Company performs a qualitative assessment to determine whether there are events or circumstances which would lead to a determination that it is more likely than not not not no may In performance of the quantitative test, the Company uses a discounted cash flow or income approach in which future expected cash flows at the operating segment level are converted to present value using factors that consider the timing and risk of the future cash flows. The estimate of cash flows used is prepared on an unleveraged debt-free basis. The discount rate reflects a market-derived weighted average cost of capital. The Company believes that this approach is appropriate because it provides a fair value estimate based upon the Company ’s expected long-term operating and cash flow performance for its operating segment. The projections are based upon the Company’s best estimates of projected economic and market conditions over the related period including growth rates, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, terminal value margin rates, future capital expenditures and changes in future working capital. If assumptions and estimates used to allocate the purchase price or used to assess impairment prove to be inaccurate, future asset impairment charges could be required. Intangibles Assets not Intangible assets not no -evaluates the useful life determination for domain names in the portfolio each year to determine whether events and circumstances continue to support an indefinite useful life. The Company reviews individual domain names in the portfolio for potential impairment throughout the fiscal year in determining whether a particular name should be renewed. Impairment is recognized for names that are not fourth not Intangible Assets subject to amortization Intangible assets subject to amortization, consist of brand, customer relationships, technology and network rights and are amortized on a straight-line basis over their estimated useful lives as follows: (in years) Technology 2 Brand 7 Customer relationships 4 - 7 Network rights 15 The Company continually evaluates whether events or circumstances have occurred that indicate the remaining estimated useful lives of its intangible assets subject to amortization may may not
Revenue Recognition, Policy [Policy Text Block]	(h) Revenue recognition The Company ’s revenues are derived from domain name registration fees on both a wholesale and retail basis, the sale of domain names, the provisioning of other Internet services and advertising revenue. Amounts received in advance of meeting the revenue recognition criteria described below are recorded as deferred revenue. (i) Domain Services The Company earns registration fees in connection with each new, renewed and transferred-in registration and from providing provisioning of other Internet services to resellers and registrars on a monthly basis. Service has been provided in connection with registration fees once the Company has confirmed that the requested domain name has been appropriately recorded in the registry under contractual performance standards. Domain names are generally purchased for terms of one ten The Company is an ICANN accredited registrar. Thus, the Company is the primary obligor with our reseller and retail registrant customers and are responsible for the fulfillment of our registrar services to those parties. As a result, the Company reports revenue in the amount of the fees we receive directly from our reseller and retail registrant customers. Our reseller customers maintain the primary obligor relationship with their retail customers, establish pricing and retain credit risk to those customers. Accordingly, the Company does not For arrangements with multiple deliverables, the Company allocates revenue to each deliverable if the delivered item(s) has value to the customer on a standalone basis and, if the arrangement includes a general right of return relative to the delivered item, delivery or performance of the undelivered item(s) is considered probable and substantially in the control of the Company. The fair value of the selling price for a deliverable is determined using a hierarchy of ( 1 2 third 3 Revenue generated from the sale of domain names, earned from transferring the rights to domain names under the Company ’s control, are recognized once the rights have been transferred and payment has been received in full, except where a fixed contract has been negotiated, in which case revenues are recognized once all the terms of the contract have been satisfied. The Company also generates advertising and other revenue through its online libraries of shareware, freeware and online services presented on its website. Advertising revenue includes revenue derived from cost per action advertising links we display on third ’s Portfolio Domains. In addition, the Company uses third Impression based advertising revenue and other revenues are recognized ratably over the period in which it is presented. To the extent that minimum guaranteed impressions are not (ii) Network Access Services The Company derives revenues from the provisioning of mobile phone and fixed Internet access services primarily through its Ting website. These revenues are recognized once services have been provided. Revenues for wireless services are billed based on the actual amount of monthly services utilized by each customer during their billing cycle on a postpaid basis. Revenues for fixed Internet access services are billed on a fixed monthly basis based on the service plan selected. The Company ’s billing cycle for each customer is computed based on the customer’s activation date. As a result, the Company estimates the amount of revenues earned but not In those cases, where payment is not no The Company establishes provisions for possible uncollectible accounts receivable and other contingent liabilities which may ’s expectations and the provisions the Company has established have been appropriate. However, the Company has, on occasion, experienced issues which have led to accounts receivable not may
Revenue Recognition, Deferred Revenue [Policy Text Block]	(i) Deferred revenue Deferred revenue primarily relates to the unearned portion of revenues received in advance related to the unexpired term of registration fees from domain name registrations and other domain related Internet services, on both a wholesale and retail basis, net of external commissions.
Accreditation Fees Payable [Policy Text Block]	(j) Accreditation fees payable In accordance with ICANN rules, the Company has elected to pay ICANN fees incurred on the registration of Generic Top-Level Domains on an annual basis. Accordingly, accreditation fees that relate to registrations completed prior to ICANN rendering a bill are accrued and reflected as accreditation fees payable.
Prepaid Domain Name Registry Fees [Policy Text Block]	(k) Prepaid domain name registry fees Prepaid domain name registry and other Internet services fees represent amounts paid to registries, and country code domain name operators for updating and maintaining the registries, as well as to suppliers of other Internet services. Domain name registry and other Internet services fees are recognized on a straight-line basis over the life of the contracted registration term.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	(l) Translation of foreign currency transactions The Company ’s functional currency is the United States dollar. Monetary assets and liabilities of the Company and of its wholly owned subsidiaries that are denominated in foreign currencies are translated into United States dollars at the exchange rates prevailing at the balance sheet dates. Non-monetary assets and liabilities are translated at the historical exchange rates. Transactions included in operations are translated at
Income Tax, Policy [Policy Text Block]	(m) Income taxes 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 and operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in net income in the year that includes the enactment date. A valuation allowance is recorded if it is not not” The Company recognizes the impact of an uncertain income tax position at the largest amount that is more-likely-than- not not 50% 12 months of the reporting date. The Company is entitled to earn investment tax credits (“ITCs”), which are credits related to specific qualifying expenditures as prescribed by Canadian Income Tax legislation. These ITCs relate primarily to research and development expenses. The ITCs are recognized as a reduction in income tax expense once the Company has reasonable assurance that the amounts will be realized.
Compensation Related Costs, Policy [Policy Text Block]	(n) Stock-based compensation Stock-based compensation expense recognized during the period is based on the value of the portion of stock-based payment awards that is ultimately expected to vest, reduced for estimated forfeitures.
Earnings Per Share, Policy [Policy Text Block]	(o) Earnings per common share Basic earnings per common share has been calculated on the basis of net income for the year divided by the weighted average number of common shares outstanding during each year. Diluted earnings per share gives effect to all dilutive potential common shares outstanding at the end of the year assuming that they had been issued, converted or exercised at the later of the beginning of the year or their date of issuance. 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 the exercise of options.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	(p) Concentration of credit risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, accounts receivable and forward foreign exchange contracts. Cash equivalents consist of deposits with major commercial banks, the maturities of which are three not not
Fair Value Measurement, Policy [Policy Text Block]	(q) Fair value measurement Fair value of financial assets and liabilities is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The three Level 1 —Quoted prices in active markets for identical assets or liabilities Level 2 —Observable inputs other than quoted prices in active markets for identical assets and liabilities Level 3 —No Financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurements. Our assessment of the significance of a particular input to the fair value measurements requires judgment, and may The fair value of cash and cash equivalents, accounts receivable, accounts payable, accreditation fees payable, customer deposits and accrued liabilities (level 2 The fair value of the derivative financial instruments is determined using an estimated credit-adjusted mark-to-market valuation (a level 2
Investment, Policy [Policy Text Block]	(r) Investments The Company accounts for investment in entities over which they have ability to exert significant influence, but do not not not
Segment Reporting, Policy [Policy Text Block]	( s ) Segment reporting The Company operates in two The Company ’s Domain Services revenues are attributed to the country in which the contract originates. Revenues from domain names issued under the OpenSRS brand from the Toronto, Canada location are attributed to Canada because it is impracticable to determine the country of the customer. Revenues from domain names issued under the eNom brand from the Kirkland, Washington location are attributable to the United States because it is impracticable to determine the country of the customer. The Company’s Network Access Services which consist primarily of mobile telephony services, as well as the provisioning of high speed Internet access, Internet hosting and consulting services, which are generated primarily through its business operations in the United States. The Company ’s assets are located in Canada, the United States and Germany.
New Accounting Pronouncements, Policy [Policy Text Block]	( t ) Recent Accounting Pronouncements Recent Accounting Pronouncements Adopted On January 1, 2017, No. 2016 05, Derivatives and Hedging (Topic 815 2015 16, Simplifying the Accounting for Measurement-Period Adjustments. not In January 2017, No. 2017 04, Intangibles – Goodwill and Other (Topic 350 2017 01” two second one not December 31, 2017. On January 1, 2017, No. 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 $2.8 December 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 not 2016 09 January 1, 2017, Recent Accounting Pronouncements Not In January 2017, No. 2017 01, Business Combinations (Topic 805 2017 01" not not first second December 15, 2017. 2017 01 In May 2014, 2014 09, 606 ("ASU 2014 09" 2014 09 July 2015, December 15, 2017 ( may The Company will adopt ASU 2014 09 first 2018 not Domain Services: Most of the Company’s contracts related to Domain Services would individually be considered single “performance obligations” measured over the period of service, which is consistent with the revenue recognition policy under US GAAP. Network Access : The vast majority of revenue generated by the Network Access segment is related to mobile service contracts. Billings and “performance obligations” related to mobile service contracts are synchronized because mobile services are offered exclusively on a month-to-month basis without long-term commitments, device subsidization or financing arrangements embedded in the mobile service contract. However, the Company does expect to recognize changes related to Contract Acquisition costs related to certain retail Domain and Network Access sales. Topic 606 one The Company will continue to assess the impact of Topic 606 2018, may 606. In August 2017, No. 2017 12, Derivatives and Hedging (Topic 815 2017 12” December 15, 2018. 2017 12 In February 2016, No. 2016 02, Leases (Topic 842 2016 02 January 2018, No. 2018 02, Leases (Topic 842 842. December 15, 2018 ( January 1, 2019 first 2019 2016 02

Note 2 -Significant Accountin28

Note 2 -Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Depreciation Rates [Table Text Block]	Rate Asset Computer equipment 30% Computer software 33 1/3 - 100% Furniture and equipment 20% Vehicles and tools 20% Fiber network (years) 15 Customer equipment and installations (years) 3 Leasehold improvements Over term of lease Assets under construction N/A
Schedule of Finite-Lived Intangible Assets [Table Text Block]	(in years) Technology 2 Brand 7 Customer relationships 4 - 7 Network rights 15

Note 3 - Acquisitions (Tables)

Note 3 - Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Goodwil l $ 69,048,340 Cas h 1,594,217 Bran d 12,400,000 Developed technolog y 3,900,000 Customer relationship s 28,000,000 Prepaid domain registry fee s 70,643,994 Other asset s 10,170,789 Total asset s 195,757,340 Deferred Revenu e (77,798,994 ) Deferred Tax Liabilitie s (24,223,276 ) Other liabilitie s (15,903,393 ) Total liabilitie s (117,925,663 ) Consideration Pai d $ 77,831,677
Business Acquisition, Pro Forma Information [Table Text Block]	Unaudite d Twelve months ended December 31 , 201 7 201 6 Net revenue s $ 333,882,963 $ 338,591,378 Net incom e 21,954,421 2,175,915 Basic earnings per common shar e 2.09 0.21 Diluted earnings per common shar e $ 2.04 $ 0.21

Note 4 - Property and Equipme30

Note 4 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, 201 7 December 31, 201 6 Computer equipment $ 12,312,120 $ 8,122,420 Computer software 1,449,480 1,277,972 Furniture and equipment 1,308,171 1,168,691 Vehicles and tools 1,305,900 830,543 Fiber network 14,052,618 7,095,971 Customer equipment and installations 6,774,031 3,889,581 Leasehold improvements 170,619 110,453 37,372,939 22,495,631 Less: Accumulated depreciation 12,752,641 9,045,193 $ 24,620,298 $ 13,450,438
Schedule of Depreciation [Table Text Block]	Year ended December 31, 201 7 Year ended December 31, 201 6 Year ended December 31, 201 5 Depreciation of property and equipment $ 3,727,822 $ 1,823,683 $ 1,404,296

Note 5 - Goodwill and Other I31

Note 5 - Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 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, 2015 $ 11,339,355 $ 1,897,318 $ 79,670 $ 499,854 $ - $ 653,480 $ 14,469,677 Acquisition of customer relationships - - - 6,529,654 - - 6,529,654 Additions to/(disposals from) domain portfolio, net (6,166 ) (23,525 ) - - - - (29,691 ) Impairment of indefinite life intangible assets (37,968 ) (4,705 ) - - - - (42,673 ) Amortization expense - - (74,460 ) (830,697 ) - (48,017 ) (953,174 ) 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 (note 3(b)) - - 12,400,000 28,000,000 3,900,000 - 44,300,000 Acquisition of consumer related assets of Otono Networks, Inc. - - - 2,622,670 - - 2,622,670 Acquisition of customer relationships - - - 319,694 - - 319,694 Additions to/(disposals from) domain portfolio, net (38,291 ) (252,501 ) - - - - (290,792 ) Impairment of indefinite life intangible assets - (111,251 ) - - - - (111,251 ) Amortization expense - - (1,656,040 ) (4,910,268 ) (1,787,500 ) (46,128 ) (8,399,936 ) Balances December 31, 2017 $ 11,256,930 $ 1,505,336 $ 10,792,790 $ 32,185,398 $ 2,112,500 $ 561,224 $ 58,414,178
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year ending December 31, 201 8 $ 9,246,620 201 9 7,335,572 20 20 7,173,072 202 1 7,173,072 202 2 7,173,072 Thereafter 7,550,504 Total $ 45,651,912

Note 6 - Fair Value Measureme32

Note 6 - Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	December 31, 201 7 Fair Value Measurement Using Assets at Level 1 Level 2 Level 3 Fair Value Derivative instrument asset $ — $ — $ — $ — Total Assets $ — $ — $ — $ — December 31, 201 6 Fair Value Measurement Using Liabilities at Level 1 Level 2 Level 3 Fair Value Derivative instrument liability $ — $ 172,888 $ — $ 172,888 Total Liabilities $ — $ 172,888 $ — $ 172,888

Note 7 - Derivative Instrumen33

Note 7 - Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Derivatives Balance Sheet Location December 31, 201 7 Assets at Fair Value December 31, 201 6 Assets at Fair Value Foreign currency forward contracts designated as cash flow hedges Derivative instruments $ — $ 155,560 Foreign currency forward contracts not designated as cash flow hedges Derivative instruments $ — $ 17,328 Total foreign currency forward contracts Derivative instruments $ — $ 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 863,425 (313,078 ) 550,347 Amount reclassified from accumulated other comprehensive income (1,018,985 ) 369,484 (649,501 ) Other comprehensive income (loss) for the year ended December 31, 201 7 (155,560 ) 56,406 (99,154 ) Ending AOCI balance – December 31, 2017 $ — $ — $ — Gains and losses on cash flow hedges Tax impact Total AOCI Opening AOCI balance – December 31, 2015 $ (1,721,683 ) $ 612,231 $ (1,109,452 ) Other comprehensive income (loss) before reclassifications 871,925 (304,109 ) 567,816 Amount reclassified from accumulated other comprehensive income 1,005,318 (364,528 ) 640,790 Other comprehensive income (loss) for the year ended December 31, 2016 1,877,243 (668,637 ) 1,208,606 Ending AOCI balance – December 31, 2016 $ 155,560 $ (56,406 ) $ 99,154 Gains and losses on cash flow hedges Tax impact Total AOCI Opening AOCI balance – December 31, 2014 $ (946,676 ) $ 324,235 $ (622,441 ) Other comprehensive income (loss) before reclassifications (3,171,740 ) 1,140,275 (2,031,465 ) Amount reclassified from accumulated other comprehensive income 2,396,733 (852,279 ) 1,544,454 Other comprehensive income (loss) for the year ended December 31, 2015 (775,007 ) 287,996 (487,011 ) Ending AOCI balance – December 31, 2015 $ (1,721,683 ) $ 612,231 $ (1,109,452 )
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 Foreign currency forward contracts – year ended December 31, 2017 Operating expenses $ 878,519 $ (99,154 ) Cost of revenues $ 140,466 Operating expenses $ - Operating expenses $ (736,616 ) Foreign currency forward contracts – year ended December 31, 2016 $ 1,208,606 Cost of revenues $ (221,460 ) Operating expenses $ (47,242 ) Operating expenses $ (1,870,818 ) Foreign currency forward contracts – year ended December 31, 2015 $ (487,011 ) Cost of revenues $ (525,916 ) Operating expenses $ (294,113 )

Note 8 - Loan Payable (Tables)

Note 8 - Loan Payable (Tables)	12 Months Ended
	Dec. 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 fe e Less than 1.0 0 Greater than or equal to 1.00 and less than 2.0 0 Greater than or equal to 2.00 and less than 2.2 5 Greater than or equal to 2.2 5 Canadian dollar borrowings based on Bankers ’ Acceptance or U.S. dollar borrowings based on LIBOR (Margin) 2.00% 2.25% 2.75% 3.25% Canadian or U.S. dollar borrowings based on Prime Rate or U.S. dollar borrowings based on Base Rate (Margin ) 0.75% 1.00% 1.50% 2.00% Standby fees 0.40% 0.45% 0.55% 0.65%
Schedule of Debt [Table Text Block]	December 31, 2017 December 31, 2016 Facility B - $ 6,000,000 Facility C 5,930,338 4,731,306 Facility D 71,823,300 - Less: unamortized debt discount and issuance costs (829,611 ) (482,498 ) Total loan payable 76,924,027 10,248,808 Less: loan payable, current portion 18,289,853 2,233,110 Loan payable, long-term portion 58,634,174 $ 8,015,698
Schedule of Maturities of Long-term Debt [Table Text Block]	Principal repayments 2018 18,289,853 2019 18,289,853 2020 18,103,004 2021 17,542,457 2022 4,867,757 Thereafter 660,714 $ 77,753,638

Note 9 - Income Taxes (Tables)

Note 9 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year ended December 31, 2017 2016 2015 Income for the year before provision for income taxes $ 24,074,768 $ 25,112,924 $ 17,942,957 Computed tax expense 8,185,420 8,538,245 6,100,605 Increase (reduction) in income tax expense resulting from: State income taxes 656,603 530,803 265,489 Effect of the decrease in Federal tax rate on deferred taxes (10,036,080 ) - - Valuation allowance on pre-2017 Foreign Tax Credits 1,275,937 - - Non-creditable 2017 Foreign Tax 2,903,400 - - Excess tax benefits on share-based compensation expense (2,796,171 ) - - Permanent differences 1,635,611 290,327 278,959 Others (76,546 ) (313,605 ) (75,826 ) Provision for income taxes $ 1,748,174 $ 9,045,770 $ 6,569,227
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 201 7 December 31, 201 6 Deferred tax assets (liabilities) : Deferred tax assets : Deferred revenu e $ 7,573,276 $ 5,482,080 Foreign tax credit s 1,275,937 1,275,937 Amortizatio n (1,936,615 ) (2,184,944 ) Net operating losse s 2,544,862 - Accruals, including foreign exchange and othe r 517,493 1,135,652 Sub-total Deferred tax asset s 9,974,953 5,708,725 Valuation allowance (1,275,937 ) - Total deferred tax asset s $ 8,699,016 $ 5,708,725 Deferred tax liabilities : Prepaid registry fees and expense s $ (18,051,222 ) $ - Limited life intangible asset s (7,371,264 ) (120,232 ) Indefinite life intangible asset s (3,110,208 ) (4,706,960 ) Total deferred tax liability $ (28,532,694 ) $ (4,827,192 ) Net deferred tax asset (liability ) $ (19,833,678 ) $ 881,533
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	Total Gross Unrecognized Tax Benefits December 31, 201 7 December 31, 201 6 Balance, beginning of year $ 117,000 $ 117,000 Change in uncertain tax benefits (102,000 ) — Balance, end of year $ 15,000 $ 117,000

Note 10 - Common Shares (Tables

Note 10 - Common Shares (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Share Repurchases [Table Text Block]	Year Ended December 31, 201 7 201 6 201 5 Common stock repurchased on the open market or through tender offer Number of shares — 308,416 1,062,456 Aggregate market value of shares (in thousands) $ — $ 7,180 $ 23,616 Average price per share $ — $ 23.28 $ 22.23 Common stock received in connection with share-based compensation Number of shares 50,454 25,572 99,675 Aggregate market value of shares (in thousands) $ 2,602 $ 634 $ 2,335 Average price per share $ 51.58 $ 24.80 $ 23.42

Note 11 - Share Option Plans (T

Note 11 - Share Option Plans (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Year ended December 31, 201 7 201 6 201 5 Volatility 41.6 % 66.1 % 44.1 % Risk-free interest rate 1.8 % 1.3 % 1.3 % Expected life (in years) 4.55 4.3 4.0 Dividend yield — % — % — % The weighted average grant date fair value for options issued, with the exercise price equal to market value on the date of grant $ 20.08 $ 11.18 $ 7.40
Share-based Compensation, Stock Options, Activity [Table Text Block]	Year ended December 31, Year ended December 31, Year ended December 31, 201 7 201 6 201 5 Number of shares Weighted average exercise price per share Number of shares Weighted average exercise price per share Number of shares Weighted average exercise price per share Outstanding, beginning of period 474,501 $ 12.67 513,366 $ 9.24 976,062 $ 5.41 Granted 370,025 54.10 81,750 22.66 67,500 21.26 Exercised (172,759 ) 7.88 (109,963 ) 3.79 (517,998 ) 3.53 Forfeited (18,196 ) 37.70 (9,902 ) 16.80 (10,323 ) 13.30 Expired — — (750 ) 3.76 (1,875 ) 2.40 Outstanding, end of period 653,571 36.69 474,501 12.67 513,366 9.24 Options exercisable, end of period 243,771 $ 14.79 332,192 $ 10.08 321,155 $ 6.49
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 $ 2.92 - $ 8.92 91,133 $ 6.63 1.6 $ 5,779,404 91,133 $ 6.63 1.6 $ 5,779,404 $ 10.16 - $ 19.95 120,913 16.30 3.5 6,499,346 92,638 15.87 3.3 5,018,978 $ 21.10 - $ 27.53 81,000 23.65 4.2 3,758,393 55,000 24.61 3.8 2,499,313 $ 35.25 - $ 37.35 14,375 35.89 5.4 491,062 5,000 35.25 6.0 174,000 $ 43.15 - $ 47.00 18,500 44.19 6.1 478,400 — — — — $ 53.20 - $ 55.65 327,650 55.41 6.4 4,795,160 — — — — 653,571 $ 36.69 4.9 $ 21,801,765 243,771 $ 14.79 2.8 $ 13,471,695
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Year ended December 31, 2017 Year ended December 31, 2016 Year ended December 31, 2015 Network expenses $ 109,988 $ 21,704 $ 28,915 Sales and marketing 571,682 236,063 188,035 Technical operations and development 360,415 98,059 111,239 General and administrative 414,487 443,608 197,836 $ 1,456,572 $ 799,434 $ 526,025

Note 14 - Earnings Per Common38

Note 14 - Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Year ended December 31, 201 7 Year ended December 31, 201 6 Year ended December 31, 201 5 Numerator for basic and diluted earnings per common share: Net income for the year $ 22,326,594 $ 16,067,154 $ 11,373,730 Denominator for basic and diluted earnings per common share: Basic weighted average number of common shares outstanding 10,537,356 10,524,856 10,968,500 Effect of stock options 256,266 188,739 391,584 Diluted weighted average number of shares outstanding 10,793,622 10,713,595 11,360,084 Basic earnings per common share $ 2.12 $ 1.53 $ 1.04 Diluted earnings per common share $ 2.07 $ 1.50 $ 1.00

Note 15 - Commitments and Con39

Note 15 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]	Contractual Obligations for the year ending December 31, Contractual Lease Obligations Purchase Obligations Total Obligations 201 8 $ 1,989,000 $ 34,405,000 $ 36,394,000 201 9 1,569,000 12,121,000 13,690,000 20 20 1,119,000 553,000 1,672,000 202 1 455,000 31,000 486,000 202 2 348,000 28,000 376,000 Thereafter 1,857,000 227,000 2,084,000 $ 7,337,000 $ 47,365,000 $ 54,702,000

Note 16 - Segment Reporting (Ta

Note 16 - Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Condensed Income Statement [Table Text Block]	Network Access Domain Name Service s Consolidated Total s Year ended December 31, 201 7 Net Revenue s $ 88,710,902 $ 240,709,839 $ 329,420,741 Cost of revenue s Cost of revenue s 48,706,531 181,893,101 230,599,632 Network expense s 1,861,319 7,463,135 9,324,454 Depreciation of property and equipmen t 2,202,052 940,346 3,142,398 Amortization of intangible asset s 46,128 1,787,500 1,833,628 Total cost of revenue s 52,816,030 192,084,082 244,900,112 Gross Profi t 35,894,872 48,625,757 84,520,629 Expenses : Sales and marketin g 29,422,984 Technical operations and developmen t 7,257,720 General and administrativ e 13,593,901 Depreciation of property and equipmen t 585,424 Amortization of intangible asset s 6,566,308 Impairment of indefinite life intangible asset s 111,251 Loss (gain) on currency forward contract s (98,227 ) Income from operation s 27,081,268 Other income (expenses), ne t (3,006,500 ) Income before provision for income taxe s $ 24,074,768 Network Access Domain Name Service s Consolidated Total s Year ended December 31, 201 6 Net Revenue s $ 73,778,951 $ 116,039,981 $ 189,818,932 Cost of revenue s Cost of revenue s 37,939,683 82,247,279 120,186,962 Network expense s 1,398,899 3,811,601 5,210,500 Depreciation of property and equipmen t 977,395 342,424 1,319,819 Amortization of intangible asset s 48,017 - 48,017 Total cost of revenue s 40,363,994 86,401,304 126,765,298 Gross Profi t 33,414,957 29,638,677 63,053,634 Expenses : Sales and marketin g 20,754,752 Technical operations and developmen t 4,494,819 General and administrativ e 11,404,793 Depreciation of property and equipmen t 503,864 Amortization of intangible asset s 905,157 Impairment of indefinite life intangible asset s 42,673 Loss (gain) on currency forward contract s (98,977 ) Income from operation s 25,046,553 Other income (expenses), ne t 66,371 Income before provision for income taxe s $ 25,112,924 Network Access Domain Name Services Consolidated Totals Year ended December 31, 2015 Net Revenues $ 60,974,265 $ 110,712,514 $ 171,686,779 Cost of revenues Cost of revenues 34,133,569 78,847,116 112,980,685 Network expenses 698,960 4,765,817 5,464,777 Depreciation of property and equipment 447,644 697,344 1,144,988 Amortization of intangible assets 38,520 - 38,520 Total cost of revenues 35,318,693 84,310,277 119,628,970 Gross Profit 25,655,572 26,402,237 52,057,809 Expenses: Sales and marketing 17,394,376 Technical operations and development 4,502,845 General and administrative 10,661,949 Depreciation of property and equipment 259,307 Amortization of intangible assets 224,206 Impairment of indefinite life intangible assets 206,116 Loss on currency forward contracts 792,900 Income from operations 18,016,110 Other income (expenses), net (73,153 ) Income before provision for income taxes $ 17,942,957
Schedule of Operating Income by Revenue Stream [Table Text Block]	Year ended December 31, 201 7 201 6 201 5 Network Access Services: Mobile Services $ 83,885,054 $ 70,127,294 $ 57,685,554 Other Services 4,825,848 3,651,657 3,288,711 Total Network Access Services 88,710,902 73,778,951 60,974,265 Domain Services: Wholesale Domain Services 183,731,385 89,009,546 84,934,519 Value Added Services 18,572,774 9,169,721 9,298,978 Total Wholesale 202,304,159 98,179,267 94,233,497 Retail 31,649,000 14,629,949 12,637,498 Portfolio 6,756,680 3,230,765 3,841,519 Total Domain Services 240,709,839 116,039,981 110,712,514 $ 329,420,741 $ 189,818,932 $ 171,686,779
Schedule of Cost of Revenues by Revenue Stream [Table Text Block]	Year ended December 31, 201 7 201 6 201 5 Network Access Services: Mobile Services $ 45,335,276 $ 35,914,882 $ 32,615,416 Other Services 3,371,255 2,024,801 1,518,153 Total Network Access Services 48,706,531 37,939,683 34,133,569 Domain Services: Wholesale Domain Services 161,012,532 72,947,730 70,633,267 Value Added Services 2,383,627 1,918,165 2,023,341 Total Wholesale 163,396,159 74,865,895 72,656,608 Retail 17,346,138 6,765,237 5,494,550 Portfolio 1,150,804 616,147 695,958 Total Domain Services 181,893,101 82,247,279 78,847,116 Network Expenses: Network, other costs 9,324,454 5,210,500 5,464,777 Network, depreciation and amortization costs 4,976,026 1,367,836 1,183,508 14,300,480 6,578,336 6,648,285 $ 244,900,112 $ 126,765,298 $ 119,628,970
Schedule of Property Plant and Equipment by Geographic Region [Table Text Block]	December 31, 201 7 December 31, 201 6 Canad a $ 1,176,371 $ 1,010,427 United State s 23,417,435 12,398,961 German y 26,492 41,050 $ 24,620,298 $ 13,450,438
Schedule of Acquired Intangible Assets by Major Class [Table Text Block]	December 31, 201 7 December 31, 201 6 Canad a $ 7,748,940 $ 5,850,596 United State s 37,783,202 633,798 German y 119,770 325,090 $ 45,651,912 $ 6,809,484
Schedule of Deferred Tax Asset Net By Geographic Region [Table Text Block]	December 31, 201 7 December 31, 201 6 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 note s Balance at beginning of perio d Charged to (recovered) costs and expense s Write-offs during perio d Balance at end of perio d Year ended December 31, 201 7 $ 164,145 $ 4,264 $ - $ 168,409 Year ended December 31, 201 6 $ 122,095 $ 42,050 $ - $ 164,145

Note 18 - Selected Quarterly 41

Note 18 - Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Quarterly Financial Information [Table Text Block]	December 31 September 30 June 30 March 31 (in thousands, except for per share data) 2017 Total revenues $ 90,621 $ 85,008 $ 84,223 $ 69,568 Gross profit 25,736 20,494 21,347 16,944 Net income 11,199 3,439 5,241 2,446 Earnings per share: Basic $ 1.06 $ 0.33 $ 0.50 $ 0.23 Diluted 1.04 0.32 0.49 0.23 2016 Total revenues $ 48,805 $ 49,064 $ 47,204 $ 44,746 Gross profit 16,423 16,638 15,645 14,348 Net income 2,817 4,741 4,071 4,438 Earnings per share: Basic $ 0.27 $ 0.45 $ 0.39 $ 0.42 Diluted 0.26 0.45 0.38 0.41

Note 2 -Significant Accountin42

Note 2 -Significant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Number of Operating Segments	2
Income Tax Expense (Benefit)	$ 1,748,174	$ 9,045,770	$ 6,569,227
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	$ (2,800,000)

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies - Summary of Property, Plant and Equipment Depreciation Rates (Details)	12 Months Ended
	Dec. 31, 2017
Leasehold improvements	Over term of lease
Assets under construction
Minimum [Member]
Depreciation term (Year)	4 years
Maximum [Member]
Depreciation term (Year)	15 years
Computer Equipment [Member]
Depreciation rate	30.00%
Computer Software [Member] | Minimum [Member]
Depreciation rate	33.33%
Computer Software [Member] | Maximum [Member]
Depreciation rate	100.00%
Furniture and Fixtures [Member]
Depreciation rate	20.00%
Vehicles and Tools [Member]
Depreciation rate	20.00%
Fiber Network [Member]
Depreciation term (Year)	15 years
Customer Equipment and Installations [Member]
Depreciation term (Year)	3 years

Note 2 - Significant Accounti44

Note 2 - Significant Accounting Policies - Intangible Asset Useful Life (Details)	12 Months Ended
	Dec. 31, 2017
Minimum [Member]
Depreciation term (Year)	4 years
Maximum [Member]
Depreciation term (Year)	15 years
Technology-Based Intangible Assets [Member]
Depreciation term (Year)	2 years
Brand [Member]
Depreciation term (Year)	7 years
Customer Relationships [Member] | Minimum [Member]
Depreciation term (Year)	4 years
Customer Relationships [Member] | Maximum [Member]
Depreciation term (Year)	7 years
Network Rights [Member]
Depreciation term (Year)	15 years

Note 3 - Acquisitions (Details

Note 3 - Acquisitions (Details Textual) - USD ($)	Feb. 13, 2018	Feb. 01, 2017	Jan. 20, 2017	Feb. 27, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Redeemable Noncontrolling Interest, Equity, Carrying Amount					$ 1,136,390	$ 3,086,090
Redeemable Noncontrolling Interest, Equity, Redemption Value					1,200,000
Payments to Acquire Businesses, Gross							$ 357,492
Ting Virginia LLC [Member] | Subsequent Event [Member]
Repurchase of Redeemable Noncontrolling Interest, Percentage	10.00%
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]
Business Combination, Interest Subject to Call Option, Not Exercised in Period		10.00%
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
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 Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual					110,800,000
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual					5,100,000
eNom, Incorporated [Member] | General and Administrative Expense [Member]
Business Acquisition, Transaction Costs					$ 300,000	$ 500,000

Note 3 - Acquisitions - Prelimi

Note 3 - Acquisitions - Preliminary Purchase Consideration (Details) - USD ($)	Jan. 20, 2017	Dec. 31, 2017	Dec. 31, 2016
Goodwill		$ 90,053,483	$ 21,005,143
eNom, Incorporated [Member]
Goodwill	$ 69,048,340
Cash	1,594,217
Prepaid domain registry fees	70,643,994
Other assets	10,170,789
Total assets	195,757,340
Deferred Revenue	(77,798,994)
Deferred Tax Liabilities	(24,223,276)
Other liabilities	(15,903,393)
Total liabilities	(117,925,663)
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 3 - Acquisitions - Pro For

Note 3 - Acquisitions - Pro Forma Information (Details) - eNom, Incorporated [Member] - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Net revenues	$ 333,882,963	$ 338,591,378
Net income	$ 21,954,421	$ 2,175,915
Basic earnings per common share (in dollars per share)	$ 2.09	$ 0.21
Diluted earnings per common share (in dollars per share)	$ 2.04	$ 0.21

Note 4 - Property and Equipme48

Note 4 - Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment, Fully Depreciated Writedown	$ 16,951	$ 0	$ 0

Note 4 - Property and Equipme49

Note 4 - Property and Equipment - Property and Equipment (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Property, plant and equipment, gross	$ 37,372,939	$ 22,495,631
Accumulated depreciation	12,752,641	9,045,193
Property, plant and equipment, net	24,620,298	13,450,438
Computer Equipment [Member]
Property, plant and equipment, gross	12,312,120	8,122,420
Computer Software [Member]
Property, plant and equipment, gross	1,449,480	1,277,972
Furniture and Fixtures [Member]
Property, plant and equipment, gross	1,308,171	1,168,691
Vehicles and Tools [Member]
Property, plant and equipment, gross	1,305,900	830,543
Fiber Network [Member]
Property, plant and equipment, gross	14,052,618	7,095,971
Customer Equipment and Installations [Member]
Property, plant and equipment, gross	6,774,031	3,889,581
Leasehold Improvements [Member]
Property, plant and equipment, gross	$ 170,619	$ 110,453

Note 4 - Property and Equipme50

Note 4 - Property and Equipment - Depreciation of Property and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Depreciation of property and equipment	$ 3,727,822	$ 1,823,683	$ 1,404,296

Note 5 - Goodwill and Other I51

Note 5 - Goodwill and Other Intangible Assets (Details Textual) - USD ($)	Sep. 19, 2017	Jan. 20, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Goodwill			$ 90,053,483	$ 21,005,143
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			111,251	42,673	$ 206,116
Finite-lived Intangible Assets Acquired			319,694	6,529,654
Brand [Member]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)
Finite-Lived Intangible Asset, Useful Life			7 years
Finite-lived Intangible Assets Acquired
Technology-Based Intangible Assets [Member]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)
Finite-Lived Intangible Asset, Useful Life			2 years
Finite-lived Intangible Assets Acquired
Customer Relationships [Member]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			7 years
Finite-lived Intangible Assets Acquired			$ 319,694	6,529,654
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life			4 years
Minimum [Member] | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life			4 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life			15 years
Maximum [Member] | Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life			7 years
Domain Name Services [Member]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			$ 100,000	$ 42,673	$ 200,000
Domain Services Operating Segment [Member]
Goodwill			$ 88,000,000
Goodwill Percentage Related to Operating Segments			98.00%
Network Access Services [Member]
Goodwill			$ 2,100,000
Goodwill Percentage Related to Operating Segments			2.00%
eNom, Incorporated [Member]
Goodwill		$ 69,048,340
Goodwill, Acquired During Period			$ 69,000,000
Finite-lived Intangible Assets Acquired			44,300,000
eNom, Incorporated [Member] | Brand [Member]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		7 years
Finite-lived Intangible Assets Acquired			12,400,000
eNom, Incorporated [Member] | Technology-Based Intangible Assets [Member]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		2 years
Finite-lived Intangible Assets Acquired			3,900,000
eNom, Incorporated [Member] | Customer Relationships [Member]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		7 years
Finite-lived Intangible Assets Acquired			28,000,000
Otono, Networks Inc. [Member]
Finite-lived Intangible Assets Acquired			2,622,670
Business Acquisition, Working Capital Liabilities Assumed	$ 1,400,000
Otono, Networks Inc. [Member] | Brand [Member]
Finite-lived Intangible Assets Acquired
Otono, Networks Inc. [Member] | Technology-Based Intangible Assets [Member]
Finite-lived Intangible Assets Acquired
Otono, Networks Inc. [Member] | Customer Relationships [Member]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years
Finite-lived Intangible Assets Acquired	$ 2,600,000		$ 2,622,670

Note 5 - Goodwill and Other I52

Note 5 - Goodwill and Other Intangible Assets - Acquired Intangible Assets by Major Class (Details) - USD ($)	Sep. 19, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Balances		$ 19,973,793	$ 14,469,677
Finite-lived Intangible Assets Acquired		319,694	6,529,654
Additions to/(disposals from) domain portfolio, net		(290,793)	(29,691)	$ (24,066)
Impairment of indefinite life intangible assets		(111,251)	(42,673)	(206,116)
Amortization expense		(8,399,936)	(953,174)	(262,726)
Reclassifications
Balances		58,414,178	19,973,793	14,469,677
eNom, Incorporated [Member]
Finite-lived Intangible Assets Acquired		44,300,000
Otono, Networks Inc. [Member]
Finite-lived Intangible Assets Acquired		2,622,670
Brand [Member]
Balances		5,210	79,670
Finite-lived Intangible Assets Acquired
Additions to/(disposals from) domain portfolio, net
Impairment of indefinite life intangible assets
Amortization expense		(1,656,040)	(74,460)
Reclassifications		43,620
Balances		10,792,790	5,210	79,670
Brand [Member] | eNom, Incorporated [Member]
Finite-lived Intangible Assets Acquired		12,400,000
Brand [Member] | Otono, Networks Inc. [Member]
Finite-lived Intangible Assets Acquired
Customer Relationships [Member]
Balances		6,198,811	499,854
Finite-lived Intangible Assets Acquired		319,694	6,529,654
Additions to/(disposals from) domain portfolio, net
Impairment of indefinite life intangible assets
Amortization expense		(4,910,268)	(830,697)
Reclassifications		(45,509)
Balances		32,185,398	6,198,811	499,854
Customer Relationships [Member] | eNom, Incorporated [Member]
Finite-lived Intangible Assets Acquired		28,000,000
Customer Relationships [Member] | Otono, Networks Inc. [Member]
Finite-lived Intangible Assets Acquired	$ 2,600,000	2,622,670
Technology-Based Intangible Assets [Member]
Balances
Finite-lived Intangible Assets Acquired
Additions to/(disposals from) domain portfolio, net
Impairment of indefinite life intangible assets
Amortization expense		(1,787,500)
Reclassifications
Balances		2,112,500
Technology-Based Intangible Assets [Member] | eNom, Incorporated [Member]
Finite-lived Intangible Assets Acquired		3,900,000
Technology-Based Intangible Assets [Member] | Otono, Networks Inc. [Member]
Finite-lived Intangible Assets Acquired
Network Rights [Member]
Balances		605,463	653,480
Finite-lived Intangible Assets Acquired
Additions to/(disposals from) domain portfolio, net
Impairment of indefinite life intangible assets
Amortization expense		(46,128)	(48,017)
Reclassifications		1,889
Balances		561,224	605,463	653,480
Network Rights [Member] | eNom, Incorporated [Member]
Finite-lived Intangible Assets Acquired
Network Rights [Member] | Otono, Networks Inc. [Member]
Finite-lived Intangible Assets Acquired
Surname Domain Names [Member]
Balances		11,295,221	11,339,355
Finite-lived Intangible Assets Acquired
Additions to/(disposals from) domain portfolio, net		(38,291)	(6,166)
Impairment of indefinite life intangible assets			(37,968)
Amortization expense
Reclassifications
Balances		11,256,930	11,295,221	11,339,355
Surname Domain Names [Member] | eNom, Incorporated [Member]
Finite-lived Intangible Assets Acquired
Acquisition , Indefinite-lived
Direct Navigation Domain Names [Member]
Balances		1,869,088	1,897,318
Finite-lived Intangible Assets Acquired
Additions to/(disposals from) domain portfolio, net		(252,501)	(23,525)
Impairment of indefinite life intangible assets		(111,251)	(4,705)
Amortization expense
Reclassifications
Balances		1,505,336	$ 1,869,088	$ 1,897,318
Direct Navigation Domain Names [Member] | eNom, Incorporated [Member]
Finite-lived Intangible Assets Acquired
Acquisition , Indefinite-lived

Note 5 - Goodwill and Other I53

Note 5 - Goodwill and Other Intangible Assets - Estimated Future Amortization Expense of Intangible Assets (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
2,018	$ 9,246,620
2,019	7,335,572
2,020	7,173,072
2,021	7,173,072
2,022	7,173,072
Thereafter	7,550,504
Total	$ 45,651,912	$ 6,809,484

Note 6 - Fair Value Measureme54

Note 6 - Fair Value Measurement - Summary of the Fair Values of the Company's Derivative Instrument Liabilities (Details) - Fair Value, Measurements, Recurring [Member] - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Derivative instrument asset
Derivative instrument liability		$ 172,888
Fair Value, Inputs, Level 1 [Member]
Derivative instrument asset
Derivative instrument liability
Fair Value, Inputs, Level 2 [Member]
Derivative instrument asset
Derivative instrument liability		172,888
Fair Value, Inputs, Level 3 [Member]
Derivative instrument asset
Derivative instrument liability

Note 7 - Derivative Instrumen55

Note 7 - Derivative Instruments and Hedging Activities (Details Textual) - Forward Contracts [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Derivative, Notional Amount		$ 26.6
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 0.1	(0.2)	$ (0.5)
Designated as Hedging Instrument [Member]
Derivative, Notional Amount		24
Not Designated as Hedging Instrument [Member]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments		$ 0.3	$ (0.1)

Note 7 - Derivative Instrumen56

Note 7 - Derivative Instruments and Hedging Activities - Fair Value of Derivative Instruments in the Consolidated Balance Sheets (Details) - Derivative Instruments [Member] - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Foreign currency forward contracts		$ 172,888
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Foreign currency forward contracts		155,560
Not Designated as Hedging Instrument [Member]
Foreign currency forward contracts		$ 17,328

Note 7 - Derivative Instrumen57

Note 7 - Derivative Instruments and Hedging Activities - Movement in AOCI Balance (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
AOCI balance, Gains and losses on cash flow hedges	$ 155,560	$ (1,721,683)	$ (946,676)
Other comprehensive income (loss) before reclassifications, Gains and losses on cash flow hedges	863,425	871,925	(3,171,740)
Amount reclassified from accumulated other comprehensive income, Gains and losses on cash flow hedges	(1,018,985)	1,005,318	2,396,733
Other comprehensive income (loss), Gains and losses on cash flow hedges	(155,560)	1,877,243	(775,007)
AOCI balance, Gains and losses on cash flow hedges		155,560	(1,721,683)
AOCI balance, Tax impact	(56,406)	612,231	324,235
Other comprehensive income (loss) before reclassifications, Tax impact	(313,078)	(304,109)	1,140,275
Amount reclassified from accumulated other comprehensive income, Tax impact	369,484	(364,528)	(852,279)
Other comprehensive income (loss), Tax impact	56,406	(668,637)	287,996
AOCI balance, Tax impact		(56,406)	612,231
AOCI balance	99,154	(1,109,452)	(622,441)
Other comprehensive income (loss) before reclassifications	550,347	567,816	(2,031,465)
Amount reclassified from accumulated other comprehensive income	(649,501)	640,790	1,544,454
Other comprehensive income (loss)	(99,154)	1,208,606	(487,011)
AOCI balance		$ 99,154	$ (1,109,452)

Note 7 - Derivative Instrumen58

Note 7 - Derivative Instruments and Hedging Activities - Effects of Derivative Instruments on Income and Other Comprehensive Income (OCI) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Amount of Gain or (Loss) Recognized in OCI, Net of Tax, on Derivative (Effective Portion)	$ (99,154)	$ 1,208,606	$ (487,011)
Operating Expense [Member]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	878,519	(736,616)	(1,870,818)
Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)		(47,242)	(294,113)
Cost of Sales [Member]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	$ 140,466	$ (221,460)	$ (525,916)

Note 8 - Loan Payable (Details

Note 8 - Loan Payable (Details Textual) CAD in Millions	Jan. 20, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Oct. 01, 2018	Sep. 30, 2018	Dec. 31, 2017CAD	Dec. 05, 2017USD ($)	Jan. 19, 2017USD ($)
Payments of Financing Costs	$ 600,000			$ 620,217	$ 513,665
Foreign Exchange Risk [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 3,500,000
Line of Credit Facility Covenant Period				1 year 180 days
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	3
Repayment Obligation, Percentage of Excess Cash Flow	50.00%
Minimum Fixed Charge Coverage Ratio		1.2	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	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
Line of Credit Facility, Increase in Maximum Borrowing Capacity		$ 502,500
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
Bank of Montreal and Royal Bank of Canada [Member] | Credit Card Facilities [Member]
Line of Credit Facility, Maximum Borrowing Capacity										$ 5,000,000
Bank of Nova [member] | Corporate Credit Card Program [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 1,000,000					CAD 0.5

Note 8 - Loan Payable - Schedul

Note 8 - Loan Payable - Schedule of Standby Fees Based on Total Funded Debt to EBITDA Ratio (Details)	12 Months Ended
	Dec. 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 8 - Loan Payable - Sched61

Note 8 - Loan Payable - Schedule of Loans Payable (Details) - USD ($)	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Loans payable		$ 76,924,027	$ 10,248,808
Less: unamortized debt discount and issuance costs		(829,611)	(482,498)
Less: loan payable, current portion		18,289,853	2,233,110
Loan payable, long-term portion	$ 58,634,174	58,634,174	8,015,698
Revolving Reducing Term Facility B [Member]
Loans payable			6,000,000
Non-revolving Facility C [Member]
Loans payable		5,930,338	4,731,306
Non-revolving Facility D [Member]
Loans payable		$ 71,823,300

Note 8 - Loan Payable - Princip

Note 8 - Loan Payable - Principal Repayments (Details)	Dec. 31, 2017USD ($)
2,018	$ 18,289,853
2,019	18,289,853
2,020	18,103,004
2,021	17,542,457
2,022	4,867,757
Thereafter	660,714
	$ 77,753,638

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		34.00%
Effective Income Tax Rate Reconciliation, Changes in Tax Laws Included in Tax Act, Amount		$ (5,800,000)
Effective Income Tax Rate Reconciliation, Effect of Decrease in Federal Tax Rate on Deferred Taxes, Amount		(10,036,080)
Effective Income Tax Rate Reconciliation, Change in Valuation Allowance on Pre-2017 Foreign Tax Credits, Amount		1,275,937
Effective Income Tax Rate Reconciliation, Non-creditable 2017 Foreign Tax, Amount		2,903,400
Unrecognized Tax Benefits		15,000	117,000	$ 117,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued		0	$ 0
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities		100,000
Maximum [Member]
Provisional Amount Related to One Time Transition Tax on Repatriation of Foreign Earnings		$ 100,000
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%

Note 9 - Income Taxes - Provisi

Note 9 - Income Taxes - Provision for Income Taxes Differs from the Amount Computed by Applying the Statutory Federal Income Tax Rate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income for the year before provision for income taxes	$ 24,074,768	$ 25,112,924	$ 17,942,957
Computed tax expense	8,185,420	8,538,245	6,100,605
State income taxes	656,603	530,803	265,489
Effect of the decrease in Federal tax rate on deferred taxes	(10,036,080)
Valuation allowance on pre-2017 Foreign Tax Credits	1,275,937
Non-creditable 2017 Foreign Tax	2,903,400
Excess tax benefits on share-based compensation expense	(2,796,171)
Permanent differences	1,635,611	290,327	278,959
Others	(76,546)	(313,605)	(75,826)
Provision for income taxes	$ 1,748,174	$ 9,045,770	$ 6,569,227

Note 9 - Income Taxes - Tax Eff

Note 9 - Income Taxes - Tax Effects of Temporary Differences That Give Rise to Significant Portions of the Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Deferred revenue	$ 7,573,276	$ 5,482,080
Foreign tax credits	1,275,937	1,275,937
Amortization	(1,936,615)	(2,184,944)
Net operating losses	2,544,862
Accruals, including foreign exchange and other	517,493	1,135,652
Sub-total Deferred tax assets	9,974,953	5,708,725
Valuation allowance	(1,275,937)
Total deferred tax assets	0	5,708,725
Prepaid registry fees and expenses	(18,051,222)
Limited life intangible assets	(7,371,264)	(120,232)
Indefinite life intangible assets	(3,110,208)	(4,706,960)
Total deferred tax liability	(28,532,694)	(4,827,192)
Net deferred tax liability	$ (19,833,678)
Net deferred tax asset		$ 881,533

Note 9 - Income Taxes - Unrecog

Note 9 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Balance	$ 117,000	$ 117,000
Change in uncertain tax benefits	(102,000)
Balance	$ 15,000	$ 117,000

Note 10 - Common Shares (Detail

Note 10 - Common Shares (Details Textual) - USD ($)	Jan. 07, 2015	Dec. 31, 2015	Feb. 14, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Mar. 01, 2017	Feb. 09, 2016	Feb. 11, 2015
Common Stock, Shares Authorized				250,000,000	250,000,000
Common Stock, Shares, Outstanding				10,583,879	10,461,574
Stock Repurchased and Retired During Period, Shares					308,416	1,062,456
Stock Repurchased and Retired During Period, Value					$ 7,180,257	$ 23,616,286
Stock Buyback Program 2018 [Member] | Subsequent Event [Member]
Stock Repurchase Program, Authorized Amount			$ 40,000,000
Stock Buyback Program 2017 [Member]
Stock Repurchase Program, Authorized Amount							$ 40,000,000
Stock Buyback Program 2017 [Member] | Subsequent Event [Member]
Stock Repurchased and Retired During Period, Shares			0
Stock Buyback Program 2016 [Member]
Stock Repurchase Program, Authorized Amount								$ 40,000,000
Stock Repurchased and Retired During Period, Shares					308,416
Stock Repurchased and Retired During Period, Value					$ 7,200,000
Stock Buyback Program 2015 [Member]
Stock Repurchase Program, Authorized Amount									$ 20,000,000
Stock Repurchased and Retired During Period, Shares		231,047				868,549
Stock Repurchased and Retired During Period, Value		$ 5,400,000				$ 20,000,000
Tender Offer [Member]
Stock Repurchased and Retired During Period, Shares	193,907
Stock Repurchased and Retired During Period, Value	$ 3,600,000
Treasury Stock Acquired, Average Cost Per Share	$ 18.50
Stock Repurchased Transaction Costs	$ 100,000

Note 10 - Common Shares - Share

Note 10 - Common Shares - Share Repurchases (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Stock Repurchased and Retired During Period, Shares		308,416	1,062,456
Stock Repurchased and Retired During Period, Value		$ 7,180,257	$ 23,616,286
Average price per share (in dollars per share)		$ 23.28	$ 22.23
Number of shares (in shares)	50,454	25,572	99,675
Aggregate market value of shares (in thousands)	$ 2,602,000	$ 634,000	$ 2,335,000
Average price per share (in dollars per share)	$ 51.58	$ 24.80	$ 23.42

Note 11 - Share Option Plans (D

Note 11 - Share Option Plans (Details Textual) - USD ($)	Oct. 08, 2010	Sep. 30, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 1996	Nov. 22, 2006
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value			$ 7,600,000	$ 2,400,000	$ 9,600,000
Proceeds from Stock Options Exercised			221,587	146,390	803,136
Allocated Share-based Compensation Expense			1,456,572	$ 799,434	$ 526,025
Employee Stock Option [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized			$ 6,500,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			3 years
The 1996 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized						2,787,500
The 1996 Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						4 years
Equity Compensation Plan 2006 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	1,725,000	2,475,000					1,250,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	475,000	750,000
Equity Compensation Plan 2006 [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			4 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			7 years
Equity Compensation Plan 2006 [Member] | Automatic Formula Grants of Nonqualified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			1 year
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			5 years

Note 11 - Stock Option Plans -

Note 11 - Stock Option Plans - Fair Value of Stock Options Granted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Volatility	41.60%	66.10%	44.10%
Risk-free interest rate	1.80%	1.30%	1.30%
Expected life (in years) (Year)	4 years 200 days	4 years 109 days	4 years
The weighted average grant date fair value for options issued, with the exercise price equal to market value on the date of grant (in dollars per share)	$ 20.08	$ 11.18	$ 7.40

Note 11 - Share Option Plans -

Note 11 - Share Option Plans - Stock Option Transactions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Outstanding, Number of shares (in shares)	474,501	513,366	976,062
Granted, Number of shares (in shares)	370,025	81,750	67,500
Exercised, Number of shares (in shares)	(172,759)	(109,963)	(517,998)
Forfeited, Number of shares (in shares)	(18,196)	(9,902)	(10,323)
Expired, Number of shares (in shares)		(750)	(1,875)
Outstanding, Number of shares (in shares)	653,571	474,501	513,366
Options exercisable, Number of shares (in shares)	243,771	332,192	321,155
Outstanding, Weighted average exercise price per share (in dollars per share)	$ 12.67	$ 9.24	$ 5.41
Granted, Weighted average exercise price per share (in dollars per share)	54.10	22.66	21.26
Exercised, Weighted average exercise price per share (in dollars per share)	7.88	3.79	3.53
Forfeited, Weighted average exercise price per share (in dollars per share)	37.70	16.80	13.30
Expired, Weighted average exercise price per share (in dollars per share)		3.76	2.40
Outstanding, Weighted average exercise price per share (in dollars per share)	36.69	12.67	9.24
Options exercisable, Weighted average exercise price per share (in dollars per share)	$ 14.79	$ 10.08	$ 6.49

Note 11 - Share Option Plans 72

Note 11 - Share Option Plans - Summary of Exercise Prices, Weighted Average Remaining Contractual Life and Intrinsic Values of Outstanding Options (Details)	12 Months Ended
	Dec. 31, 2017USD ($)$ / sharesshares
Number outstanding (in shares) | shares	653,571
Weighted average exercise price per share, options outstanding (in dollars per share)	$ 36.69
Weighted average remaining contractual life, options outstanding (Year)	4 years 328 days
Aggregate intrinsic value, options outstanding | $	$ 21,801,765
Number exercisable (in shares) | shares	243,771
Weighted average exercise price per share, options exercisable (in dollars per share)	$ 14.79
Weighted average remaining contractual life, options exercisable (Year)	2 years 292 days
Aggregate intrinsic value, options exercisable | $	$ 13,471,695
Exercise Price Range 01 [Member]
Exercise price - lower (in dollars per share)	$ 2.92
Exercise price - higher (in dollars per share)	$ 8.92
Number outstanding (in shares) | shares	91,133
Weighted average exercise price per share, options outstanding (in dollars per share)	$ 6.63
Weighted average remaining contractual life, options outstanding (Year)	1 year 219 days
Aggregate intrinsic value, options outstanding | $	$ 5,779,404
Number exercisable (in shares) | shares	91,133
Weighted average exercise price per share, options exercisable (in dollars per share)	$ 6.63
Weighted average remaining contractual life, options exercisable (Year)	1 year 219 days
Aggregate intrinsic value, options exercisable | $	$ 5,779,404
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	120,913
Weighted average exercise price per share, options outstanding (in dollars per share)	$ 16.30
Weighted average remaining contractual life, options outstanding (Year)	3 years 182 days
Aggregate intrinsic value, options outstanding | $	$ 6,499,346
Number exercisable (in shares) | shares	92,638
Weighted average exercise price per share, options exercisable (in dollars per share)	$ 15.87
Weighted average remaining contractual life, options exercisable (Year)	3 years 109 days
Aggregate intrinsic value, options exercisable | $	$ 5,018,978
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	81,000
Weighted average exercise price per share, options outstanding (in dollars per share)	$ 23.65
Weighted average remaining contractual life, options outstanding (Year)	4 years 73 days
Aggregate intrinsic value, options outstanding | $	$ 3,758,393
Number exercisable (in shares) | shares	55,000
Weighted average exercise price per share, options exercisable (in dollars per share)	$ 24.61
Weighted average remaining contractual life, options exercisable (Year)	3 years 292 days
Aggregate intrinsic value, options exercisable | $	$ 2,499,313
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, options outstanding (Year)	5 years 146 days
Aggregate intrinsic value, options outstanding | $	$ 491,062
Number exercisable (in shares) | shares	5,000
Weighted average exercise price per share, options exercisable (in dollars per share)	$ 35.25
Weighted average remaining contractual life, options exercisable (Year)	6 years
Aggregate intrinsic value, options exercisable | $	$ 174,000
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, options outstanding (Year)	6 years 36 days
Aggregate intrinsic value, options outstanding | $	$ 478,400
Number exercisable (in shares) | shares
Weighted average exercise price per share, options exercisable (in dollars per share)
Weighted average remaining contractual life, options exercisable (Year)
Aggregate intrinsic value, options exercisable | $
Exercise Price Range 06 [Member]
Exercise price - lower (in dollars per share)	$ 53.20
Exercise price - higher (in dollars per share)	$ 55.65
Number outstanding (in shares) | shares	327,650
Weighted average exercise price per share, options outstanding (in dollars per share)	$ 55.41
Weighted average remaining contractual life, options outstanding (Year)	6 years 146 days
Aggregate intrinsic value, options outstanding | $	$ 4,795,160
Number exercisable (in shares) | shares
Weighted average exercise price per share, options exercisable (in dollars per share)
Weighted average remaining contractual life, options exercisable (Year)
Aggregate intrinsic value, options exercisable | $

Note 11 - Stock Option Plans 73

Note 11 - Stock Option Plans - Stock-based Compensation Allocation to Operating Expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Allocated share based compensation expense	$ 1,456,572	$ 799,434	$ 526,025
Network Expenses [Member]
Allocated share based compensation expense	109,988	21,704	28,915
Sales and Marketing Expense [Member]
Allocated share based compensation expense	571,682	236,063	188,035
Technical Operations and Development [Member]
Allocated share based compensation expense	360,415	98,059	111,239
General and Administrative Expense [Member]
Allocated share based compensation expense	$ 414,487	$ 443,608	$ 197,836

Note 12 - Foreign Exchange (Det

Note 12 - Foreign Exchange (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
General and Administrative Expense [Member]
Foreign Currency Transaction Gain (Loss), Realized	$ 0.7	$ (0.1)	$ (0.3)

Note 13 - Other Income, Net (De

Note 13 - Other Income, Net (Details Textual) - Joint Marketing Agreement [Member] - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Nonrecurring Gain	$ 1.5	$ 0.5	$ 0.5	$ 0.1
Other Non-recurring Gain, Term of Recognition	3 years

Note 14 - Earnings Per Common76

Note 14 - Earnings Per Common Share (Details Textual) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	341,650	76,750	75,050

Note 14 - Earnings Per Common77

Note 14 - Earnings Per Common Share - Summary of Basic and Diluted Earnings Per Common Share (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Numerator for basic and diluted earnings per common share:
Net income for the year	$ 11,199	$ 3,439	$ 5,241	$ 2,446	$ 2,817	$ 4,741	$ 4,071	$ 4,438	$ 22,326,594	$ 16,067,154	$ 11,373,730
Basic weighted average number of common shares outstanding (in shares)									10,537,356	10,524,856	10,968,500
Effect of stock options (in shares)									256,266	188,739	391,584
Diluted weighted average number of shares outstanding (in shares)									10,793,622	10,713,595	11,360,084
Basic earnings per common share (in dollars per share)	$ 1.06	$ 0.33	$ 0.50	$ 0.23	$ 0.27	$ 0.45	$ 0.39	$ 0.42	$ 2.12	$ 1.53	$ 1.04
Diluted earnings per common share (in dollars per share)	$ 1.04	$ 0.32	$ 0.49	$ 0.23	$ 0.26	$ 0.45	$ 0.38	$ 0.41	$ 2.07	$ 1.50	$ 1

Note 15 - Commitments and Con78

Note 15 - Commitments and Contingencies (Details Textual)	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jan. 16, 2018	Jan. 05, 2018	Feb. 09, 2015USD ($)
Contractual Obligation, Term	10 years
Operating Leases, Rent Expense	$ 1,900,000	$ 1,200,000	$ 1,000,000
Long-term Debt	77,753,638
Litigation Case with Namecheap [Member] | Subsequent Event [Member]
Domain Name Transfer to Counter Party to Settle a Litigation Case				2,650,000	2,650,000
City of Westminster, Maryland [Member] | Loan to Finance WFN Construction [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 21,000,000
Debt Instrument, Term of Interest Only Payments		5 years
Debt Instrument, Term		30 years
Long-term Debt	$ 7,500,000
Guarantee Obligations [Member] | Lease and Network Operations Agreement [Member] | Ting Fiber Inc. [Member]
Loss Contingency, Debt Service Guarantee, Revenue Shortfall Difference, Lower Threshold						$ 50,000
Loss Contingency, Debt Service Guarantee, Revenue Shortfall Difference, Upper Threshold						$ 150,000

Note 15 - Commitments and Con79

Note 15 - Commitments and Contingencies - Summary of General Office Facilities and Equipment (Details)	Dec. 31, 2017USD ($)
Contractual lease obligations, 2018	$ 1,989,000
Purchase obligations, 2018	34,405,000
Total obligations, 2018	36,394,000
Contractual lease obligations, 2019	1,569,000
Purchase obligations, 2019	12,121,000
Total obligations, 2019	13,690,000
Contractual lease obligations, 2020	1,119,000
Purchase obligations, 2020	553,000
Total obligations, 2020	1,672,000
Contractual lease obligations, 2021	455,000
Purchase obligations, 2021	31,000
Total obligations, 2021	486,000
Contractual lease obligations, 2022	348,000
Purchase obligations, 2022	28,000
Total obligations, 2022	376,000
Contractual lease obligations, thereafter	1,857,000
Purchase obligations, thereafter	227,000
Total obligations, thereafter	2,084,000
Contractual lease obligations, total	7,337,000
Purchase obligations, total	47,365,000
Total obligations	$ 54,702,000

Note 16 - Segment Reporting (De

Note 16 - Segment Reporting (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)
Number of Operating Segments	2
Revenue from Related Parties	$ 4.9

Note 16 - Segment Reporting - I

Note 16 - Segment Reporting - Information by Reportable Segments (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net Revenues									$ 329,420,741	$ 189,818,932	$ 171,686,779
Cost of revenues									230,599,632	120,186,962	112,980,685
Network expenses									9,324,454	5,210,500	5,464,777
Depreciation of property and equipment									3,142,398	1,319,819	1,144,988
Amortization of intangible assets									1,833,628	48,017	38,520
Total cost of revenues									244,900,112	126,765,298	119,628,970
Gross Profit	$ 25,736	$ 20,494	$ 21,347	$ 16,944	$ 16,423	$ 16,638	$ 15,645	$ 14,348	84,520,629	63,053,634	52,057,809
Sales and marketing									29,422,984	20,754,752	17,394,376
Technical operations and development									7,257,720	4,494,819	4,502,845
General and administrative									13,593,901	11,404,793	10,661,949
Depreciation of property and equipment									585,424	503,864	259,307
Amortization of intangible assets									6,566,308	905,157	224,206
Impairment of indefinite life intangible asset									111,251	42,673	206,116
Loss (gain) on currency forward contracts									(98,227)	(98,977)	792,900
Income from operations									27,081,268	25,046,553	18,016,110
Other income (expenses), net									(3,006,500)	66,371	(73,153)
Income before provision for income taxes									24,074,768	25,112,924	17,942,957
Network Access Services [Member]
Net Revenues									88,710,902	73,778,951	60,974,265
Cost of revenues									48,706,531	37,939,683	34,133,569
Network expenses									1,861,319	1,398,899	698,960
Depreciation of property and equipment									2,202,052	977,395	447,644
Amortization of intangible assets									46,128	48,017	38,520
Total cost of revenues									52,816,030	40,363,994	35,318,693
Gross Profit									35,894,872	33,414,957	25,655,572
Domain Name Services [Member]
Net Revenues									240,709,839	116,039,981	110,712,514
Cost of revenues									181,893,101	82,247,279	78,847,116
Network expenses									7,463,135	3,811,601	4,765,817
Depreciation of property and equipment									940,346	342,424	697,344
Amortization of intangible assets									1,787,500
Total cost of revenues									192,084,082	86,401,304	84,310,277
Gross Profit									$ 48,625,757	29,638,677	$ 26,402,237
Income before provision for income taxes

Note 16 - Segment Reporting - S

Note 16 - Segment Reporting - Summary of Revenue and Cost of Revenue (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net revenues	$ 90,621	$ 85,008	$ 84,223	$ 69,568	$ 48,805	$ 49,064	$ 47,204	$ 44,746	$ 329,420,741	$ 189,818,932	$ 171,686,779
Network Access Services [Member]
Net revenues									88,710,902	73,778,951	60,974,265
Network Access Services [Member] | Mobile Services [Member]
Net revenues									83,885,054	70,127,294	57,685,554
Network Access Services [Member] | Other Services [Member]
Net revenues									4,825,848	3,651,657	3,288,711
Domain Name Services [Member]
Net revenues									240,709,839	116,039,981	110,712,514
Domain Name Services [Member] | Wholesale [Member]
Net revenues									202,304,159	98,179,267	94,233,497
Domain Name Services [Member] | Wholesale [Member] | Domain Services [Member]
Net revenues									183,731,385	89,009,546	84,934,519
Domain Name Services [Member] | Wholesale [Member] | Value Added Services [Member]
Net revenues									18,572,774	9,169,721	9,298,978
Domain Name Services [Member] | Retail Services [Member]
Net revenues									31,649,000	14,629,949	12,637,498
Domain Name Services [Member] | Portfolio [Member]
Net revenues									$ 6,756,680	$ 3,230,765	$ 3,841,519

Note 16 - Segment Reporting -83

Note 16 - Segment Reporting - Summary of Cost of Revenues From Each Significant Revenue Stream (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cost of revenues	$ 230,599,632	$ 120,186,962	$ 112,980,685
Network, other costs	9,324,454	5,210,500	5,464,777
Amortization of intangible assets	1,833,628	48,017	38,520
Total cost of revenues	244,900,112	126,765,298	119,628,970
Network Expenses [Member]
Network, other costs	9,324,454	5,210,500	5,464,777
Amortization of intangible assets	4,976,026	1,367,836	1,183,508
Network Expenses	14,300,480	6,578,336	6,648,285
Network Access Services [Member]
Cost of revenues	48,706,531	37,939,683	34,133,569
Network, other costs	1,861,319	1,398,899	698,960
Amortization of intangible assets	46,128	48,017	38,520
Total cost of revenues	52,816,030	40,363,994	35,318,693
Network Access Services [Member] | Mobile Services [Member]
Cost of revenues	45,335,276	35,914,882	32,615,416
Network Access Services [Member] | Other Services [Member]
Cost of revenues	3,371,255	2,024,801	1,518,153
Domain Name Services [Member]
Cost of revenues	181,893,101	82,247,279	78,847,116
Network, other costs	7,463,135	3,811,601	4,765,817
Amortization of intangible assets	1,787,500
Total cost of revenues	192,084,082	86,401,304	84,310,277
Domain Name Services [Member] | Wholesale [Member]
Cost of revenues	163,396,159	74,865,895	72,656,608
Domain Name Services [Member] | Retail Services [Member]
Cost of revenues	17,346,138	6,765,237	5,494,550
Domain Name Services [Member] | Portfolio [Member]
Cost of revenues	1,150,804	616,147	695,958
Domain Name Services [Member] | Domain Services [Member] | Wholesale [Member]
Cost of revenues	161,012,532	72,947,730	70,633,267
Domain Name Services [Member] | Value Added Services [Member] | Wholesale [Member]
Cost of revenues	$ 2,383,627	$ 1,918,165	$ 2,023,341

Note 16 - Segment Reporting -84

Note 16 - Segment Reporting - Summary of Property and Equipment by Geographic Region (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Property and equipment	$ 24,620,298	$ 13,450,438
CANADA
Property and equipment	1,176,371	1,010,427
UNITED STATES
Property and equipment	23,417,435	12,398,961
GERMANY
Property and equipment	$ 26,492	$ 41,050

Note 16 - Segment Reporting -85

Note 16 - Segment Reporting - Summary of Amortizable Intangible Assets by Geographic Region (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Amortizable intangible assets	$ 45,651,912	$ 6,809,484
CANADA
Amortizable intangible assets	7,748,940	5,850,596
UNITED STATES
Amortizable intangible assets	37,783,202	633,798
GERMANY
Amortizable intangible assets	$ 119,770	$ 325,090

Note 16 - Segment Reporting -86

Note 16 - Segment Reporting - Summary of Deferred Tax Asset, Net of Valuation Allowance (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets	$ 0	$ 5,708,725
CANADA
Deferred tax assets	$ 0	$ 5,708,725

Note 16 - Segment Reporting -87

Note 16 - Segment Reporting - Summary of Valuation and Qualifying Accounts (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Balance at beginning of period	$ 164,145	$ 122,095
Charged to (recovered) costs and expenses	4,264	42,050
Balance at end of period	$ 168,409	$ 164,145

Note 17 - Subsequent Events (De

Note 17 - Subsequent Events (Details Textual) $ in Millions	Feb. 13, 2018USD ($)	Mar. 31, 2018USD ($)	Feb. 14, 2018USD ($)	Jan. 24, 2018USD ($)	Jan. 16, 2018	Jan. 05, 2018
Subsequent Event [Member] | Ting Virginia LLC [Member]
Repurchase of Redeemable Noncontrolling Interest, Percentage	10.00%
Payments for Repurchase of Redeemable Noncontrolling Interest	$ 1.2
Subsequent Event [Member] | Stock Buyback Program 2018 [Member]
Stock Repurchase Program, Authorized Amount			$ 40
Subsequent Event [Member] | Second Interim Amendment [Member]
Credit Agreement, Maximum Aggregate Amount Held in Account With Certain Bank				$ 3
Litigation Case with Namecheap [Member] | Scenario, Forecast [Member]
Litigation Settlement, Revenue Recognized, Previously Deferred Revenue and Deferred prepaid Registry Fees		$ 14.6
Litigation Settlement, Cost of Revenues Recognized, Previously Deferred Revenue and Deferred prepaid Registry Fees		$ 14.5
Litigation Case with Namecheap [Member] | Subsequent Event [Member]
Domain Name Transfer to Counter Party to Settle a Litigation Case					2,650,000	2,650,000

Note 18 - Selected Quarterly 89

Note 18 - Selected Quarterly Financial Data (Unaudited) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net revenues	$ 90,621	$ 85,008	$ 84,223	$ 69,568	$ 48,805	$ 49,064	$ 47,204	$ 44,746	$ 329,420,741	$ 189,818,932	$ 171,686,779
Gross Profit	25,736	20,494	21,347	16,944	16,423	16,638	15,645	14,348	84,520,629	63,053,634	52,057,809
Net income	$ 11,199	$ 3,439	$ 5,241	$ 2,446	$ 2,817	$ 4,741	$ 4,071	$ 4,438	$ 22,326,594	$ 16,067,154	$ 11,373,730
Basic (in dollars per share)	$ 1.06	$ 0.33	$ 0.50	$ 0.23	$ 0.27	$ 0.45	$ 0.39	$ 0.42	$ 2.12	$ 1.53	$ 1.04
Diluted (in dollars per share)	$ 1.04	$ 0.32	$ 0.49	$ 0.23	$ 0.26	$ 0.45	$ 0.38	$ 0.41	$ 2.07	$ 1.50	$ 1