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 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues $ 21,779,877 $ 21,644,225 $ 47,186,358 $ 45,870,933
Cost of revenues 14,784,721 15,426,613 32,496,895 32,750,960
Research and development expenses 1,009,874 1,250,550 2,107,602 2,344,814
Selling and marketing expenses 1,799,588 1,397,374 3,454,454 2,622,790
General and administrative expenses 3,734,374 4,527,476 8,026,787 8,181,051
Amortization of intangible assets 698,637 705,494 1,466,640 1,566,267
Total operating costs and expenses 22,027,194 23,307,507 47,552,378 47,465,882
Operating loss (247,317) (1,663,282) (366,020) (1,594,949)
Other income 20,395 34,052 46,432 50,031
Financial expense, net (204,196) (243,397) (541,854) (571,005)
Total other expense (183,801) (209,345) (495,422) (520,974)
Loss before income tax expense (431,118) (1,872,627) (861,442) (2,115,923)
Income tax expense 368,827 370,343 582,280 609,724
Net loss (799,945) (2,242,970) (1,443,722) (2,725,647)
Other comprehensive income (loss), net of income tax:        
Foreign currency translation adjustment (298,043) 628,860 62,055 383,346
Comprehensive loss $ (1,097,988) $ (1,614,110) $ (1,381,667) $ (2,342,301)
Basic net loss per share (in Dollars per share) $ (0.03) $ (0.10) $ (0.06) $ (0.12)
Diluted net loss per share (in Dollars per share) $ (0.03) $ (0.10) $ (0.06) $ (0.12)
Weighted average number of shares used in computing basic net loss per share (in Shares) 25,383,440 23,599,230 25,365,756 23,451,687
Weighted average number of shares used in computing diluted net loss per share (in Shares) 25,383,440 23,599,230 25,365,756 23,451,687