Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Income Statement [Abstract]      
Revenues $ 96,599,741 $ 98,722,678 $ 92,975,752
Cost of revenues 67,402,263 71,082,708 64,825,416
Research and development expenses 3,030,469 3,041,130 2,722,965
Selling and marketing expenses 8,175,503 7,874,364 7,029,090
General and administrative expenses 12,919,437 11,623,900 15,308,461
Amortization of intangible assets 1,677,443 2,205,755 2,875,543
Total operating costs and expenses 93,205,115 95,827,857 92,761,475
Operating income 3,394,626 2,894,821 214,277
Other income (expense), net (39,077) (8,156) 64,832
Financial expense, net (921,953) (1,076,659) (975,263)
Total other expense (961,030) (1,084,815) (910,431)
Income (loss) from continuing operations before income tax (benefit) expense 2,433,596 1,810,006 (696,154)
Income tax (benefit) expense 563,641 (5,224,875) 783,420
Income (loss) from continuing operations 1,869,955 7,034,881 (1,479,574)
Loss from discontinued operations 0 0 (1,368,682)
Net income (loss) 1,869,955 7,034,881 (2,848,256)
Other comprehensive income (loss), net of $0 income tax      
Foreign currency translation adjustment (113,240) 1,752,606 54,925
Comprehensive income (loss) $ 1,756,715 $ 8,787,487 $ (2,793,331)
Income (loss) per share of common stock:      
Basic – continuing operations (in dollars per share) $ 0.07 $ 0.27 $ (0.06)
Basic – discontinued operations (in dollars per share) 0.00 0.00 (0.05)
Basic net income (loss) per share (in dollars per share) 0.07 0.27 (0.11)
Diluted – continuing operations (in dollars per share) 0.07 0.27 (0.06)
Diluted – discontinued operations (in dollars per share) 0.00 0.00 (0.05)
Diluted net income (loss) per share (in dollars per share) $ 0.07 $ 0.27 $ (0.11)
Weighted average number of shares used in computing basic net income (loss) per share (in shares) 26,471,507 26,380,312 25,494,097
Weighted average number of shares used in computing diluted net income (loss) per share (in shares) 26,471,507 26,380,312 25,494,097