Acquisitions (Tables)

12 Months Ended

Dec. 31, 2015

	Year Ended December 31, 2014
Revenues	$	42,793,803
Net loss	$	(4,628,737	)

Net loss per share:
Basic and diluted	$	(0.36	)

Weighted average shares outstanding:
Basic and diluted		12,788,663

Promissory note issued	$	1,389,386

Allocated to:
Cash and cash equivalents		439,156
Accounts receivable		2,248,537
Prepaid expenses and other current assets		23,026
Property and equipment		13,040
Security deposits		16,476
Accounts payable		(1,111,669	)
Accrued expenses		(186,638	)
Deferred tax liability		(272,586	)
Net assets acquired		1,169,342

Excess of purchase price over net tangible assets acquired before allocation to identifiable intangible assets and gain on bargain purchase of business	$	220,044

	Amount			Estimated Useful Life (Years)
Developed Technology	$	330,000			3
Customer Relationships		280,000			5
Trade Name/Trademarks		40,000			4
Amortizable Intangible Assets		650,000
Gain on Bargain Purchase of Business		(429,956	)
	$	220,044

Fair value of common stock issued (6,309,845 shares)	$	35,272,033
Cash paid		3,555,000
Promissory note issued		434,582
Stock options issued (183,000 options)		556,496
Common stock purchase warrants issued (181,250 warrants)		294,342
Total consideration		40,112,453

Allocated to:
Cash and cash equivalents	$	5,198
Accounts receivable		353,377
Incremental direct costs		931,126
Prepaid expenses and other current assets		297,904
Property and equipment		795,618
Security deposits		342,190
Merchant reserve		1,528,558
Other assets		159,412
Accounts payable		(6,153,564	)
Accrued expenses		(1,954,036	)
Deferred revenue		(8,880,000	)
Deferred tax liability		(6,193,765	)
Merchant cash advances		(447,371	)
Capital lease obligations		(22,397	)
Net liabilities assumed		(19,237,750	)

Excess of purchase price over net liabilities assumed before allocation to identifiable intangible assets and goodwill	$	59,350,203

	Amount		Estimated Useful Life (Years)
Sales Process	$	3,970,000		10
Paid Member Relationships		890,000		5
Member Lists		8,957,000		5
Developed Technology		648,000		3
Trade Name/Trademarks		440,000		4
Amortizable Intangible Assets		14,905,000
Goodwill		44,445,203
	$	59,350,203