Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues $ 22,347,445 $ 25,406,481
Cost of revenues 15,867,498 17,712,174
Research and development expenses 995,434 836,082
Selling and marketing expenses 1,995,967 1,654,866
General and administrative expenses 3,017,218 4,292,413
Amortization of intangible assets 697,993 768,003
Total operating costs and expenses 22,574,110 25,263,538
Operating income (loss) (226,665) 142,943
Other income, net 12,154 26,037
Financial expense, net (333,857) (337,658)
Total other expense (321,703) (311,621)
Loss from continuing operations before income tax expense (548,368) (168,678)
Income tax expense 219,940 213,453
Loss from continuing operations (768,308) (382,131)
Loss from discontinued operations 0 (261,646)
Net loss (768,308) (643,777)
Other comprehensive income (loss), net of income tax:    
Foreign currency translation adjustment 915,032 360,098
Comprehensive income (loss) $ 146,724 $ (283,679)
Loss per share of common stock:    
Basic – continuing operations (in Dollars per share) $ (0.03) $ (0.02)
Basic – discontinued operations (in Dollars per share) 0 (0.01)
Basic net loss per share (in Dollars per share) (0.03) (0.03)
Diluted – continuing operations (in Dollars per share) (0.03) (0.02)
Diluted – discontinued operations (in Dollars per share) 0 (0.01)
Diluted net loss per share (in Dollars per share) $ (0.03) $ (0.03)
Weighted average number of shares used in computing basic net loss per share (in Shares) 26,169,228 24,797,875
Weighted average number of shares used in computing diluted net loss per share (in Shares) 26,169,228 24,797,875