Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues $ 21,448,693 $ 21,779,877 $ 43,796,138 $ 47,186,358
Cost of revenues 15,466,496 14,784,721 31,333,994 32,496,895
Research and development expenses 764,416 779,035 1,759,850 1,615,117
Selling and marketing expenses 1,971,477 1,799,588 3,967,444 3,454,454
General and administrative expenses 2,839,370 3,734,374 5,856,588 8,026,787
Amortization of intangible assets 521,660 698,637 1,219,653 1,466,640
Total operating costs and expenses 21,563,419 21,796,355 44,137,529 47,059,893
Operating income (loss) (114,726) (16,478) (341,391) 126,465
Other income, net (1,894) 20,395 10,260 46,432
Financial expense, net (215,187) (204,196) (549,044) (541,854)
Total other expense (217,081) (183,801) (538,784) (495,422)
Loss from continuing operations before income tax expense (331,807) (200,279) (880,175) (368,957)
Income tax expense 262,820 368,827 482,760 582,280
Loss from continuing operations (594,627) (569,106) (1,362,935) (951,237)
Loss from discontinued operations 0 (230,839) 0 (492,485)
Net loss (594,627) (799,945) (1,362,935) (1,443,722)
Other comprehensive income (loss), net of income tax:        
Foreign currency translation adjustment 671,142 (298,043) 1,586,174 62,055
Comprehensive income (loss) $ 76,515 $ (1,097,988) $ 223,239 $ (1,381,667)
Loss per share of common stock:        
Basic – continuing operations (in Dollars per share) $ (0.02) $ (0.02) $ (0.05) $ (0.04)
Basic – discontinued operations (in Dollars per share) 0 (0.01) 0 (0.02)
Basic net loss per share (in Dollars per share) (0.02) (0.03) (0.05) (0.06)
Diluted – continuing operations (in Dollars per share) (0.02) (0.02) (0.05) (0.04)
Diluted – discontinued operations (in Dollars per share) 0 (0.01) 0 (0.02)
Diluted net loss per share (in Dollars per share) $ (0.02) $ (0.03) $ (0.05) $ (0.06)
Weighted average number of shares used in computing basic net loss per share (in Shares) 26,216,775 25,383,440 26,193,509 25,365,756
Weighted average number of shares used in computing diluted net loss per share (in Shares) 26,216,775 25,383,440 26,193,509 25,365,756