CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
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12 Months Ended | |
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Dec. 31, 2014
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Dec. 31, 2013
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Operating activities: | ||
Net income | $ 2,105,114us-gaap_ProfitLoss | $ 477,216us-gaap_ProfitLoss |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 1,749,538us-gaap_DepreciationDepletionAndAmortization | 3,055,182us-gaap_DepreciationDepletionAndAmortization |
Deferred income taxes | 0us-gaap_IncreaseDecreaseInDeferredIncomeTaxes | (310,097)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes |
Amortization of financing fees | 28,863us-gaap_AmortizationOfFinancingCosts | 33,333us-gaap_AmortizationOfFinancingCosts |
Adjustment of European liabilities related to discontinued operations | (2,494)inuv_Litigationsettlementsinstock | (459,473)inuv_Litigationsettlementsinstock |
Provision (Recovery) for doubtful accounts | 23,877inuv_ProvisionRecoveryforDoubtfulAccounts | (137,362)inuv_ProvisionRecoveryforDoubtfulAccounts |
Stock based compensation | 991,948us-gaap_ShareBasedCompensation | 686,745us-gaap_ShareBasedCompensation |
Change in operating assets and liabilities: | ||
Accounts receivable and unbilled revenue | (1,519,421)us-gaap_IncreaseDecreaseInAccountsReceivable | 1,961,574us-gaap_IncreaseDecreaseInAccountsReceivable |
Prepaid expenses and other assets | 306,017us-gaap_IncreaseDecreaseInPrepaidExpense | 36,587us-gaap_IncreaseDecreaseInPrepaidExpense |
Accounts payable | (518,881)us-gaap_IncreaseDecreaseInAccountsPayableTrade | (3,501,924)us-gaap_IncreaseDecreaseInAccountsPayableTrade |
Accrued expenses and other liabilities | 944,425us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities | (22,481)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities |
Other | (165,193)us-gaap_OtherOperatingActivitiesCashFlowStatement | (9,677)us-gaap_OtherOperatingActivitiesCashFlowStatement |
Net cash provided by operating activities | 3,943,793us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | 1,809,623us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
Investing activities: | ||
Purchases of equipment and capitalized development costs | (839,867)us-gaap_PaymentsToAcquireProductiveAssets | (677,526)us-gaap_PaymentsToAcquireProductiveAssets |
Net cash used in investing activities | (839,867)us-gaap_NetCashProvidedByUsedInInvestingActivities | (677,526)us-gaap_NetCashProvidedByUsedInInvestingActivities |
Financing activities: | ||
Proceeds from term note | 2,000,000inuv_ProceedsFromTermNote | 0inuv_ProceedsFromTermNote |
Return of deposit to collateralize letter of credit | 0us-gaap_ProceedsFromDepositsAppliedToDebtRetirements | 301,158us-gaap_ProceedsFromDepositsAppliedToDebtRetirements |
Proceeds from revolving line of credit | 2,550,000inuv_AdvancesFromCreditNotePayable | 7,225,000inuv_AdvancesFromCreditNotePayable |
Prepaid financing fees | 43,895us-gaap_AmortizationOfFinancingCostsAndDiscounts | 35,500us-gaap_AmortizationOfFinancingCostsAndDiscounts |
Exercise of stock options | 0us-gaap_ProceedsFromStockOptionsExercised | 2,100us-gaap_ProceedsFromStockOptionsExercised |
Payments on revolving line of credit | (4,011,469)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit | (7,570,255)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit |
Payments on term note payable and capital leases | (3,108,980)inuv_PaymentsonTermNotePayableandCapitalLeases | (1,369,047)inuv_PaymentsonTermNotePayableandCapitalLeases |
Net cash used in financing activities | (2,526,554)us-gaap_NetCashProvidedByUsedInFinancingActivities | (1,375,544)us-gaap_NetCashProvidedByUsedInFinancingActivities |
Effect of exchange rate changes | 0us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents | (418)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents |
Net change – cash | 577,372us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (243,865)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
Cash, beginning of year | 3,137,153us-gaap_CashAndCashEquivalentsAtCarryingValue | 3,381,018us-gaap_CashAndCashEquivalentsAtCarryingValue |
Cash, end of year | 3,714,525us-gaap_CashAndCashEquivalentsAtCarryingValue | 3,137,153us-gaap_CashAndCashEquivalentsAtCarryingValue |
Supplemental information: | ||
Interest paid | 290,244us-gaap_InterestPaid | 327,379us-gaap_InterestPaid |
Income taxes refunded | 0us-gaap_IncomeTaxesPaidNet | (3,548)us-gaap_IncomeTaxesPaidNet |
Non-cash investing activities: | ||
Purchase of property and equipment under capital lease | $ 0us-gaap_CapitalLeaseObligationsIncurred | $ 47,482us-gaap_CapitalLeaseObligationsIncurred |
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Custom Element. No definition available.
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Litigation settlements in stock No definition available.
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Payments on Term Note Payable and Capital Leases No definition available.
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Custom Element. No definition available.
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Provision (Recovery) for Doubtful Accounts No definition available.
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- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of noncash expense included in interest expense to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase during the period in capital lease obligations due to entering into new capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Other cash or noncash adjustments to reconcile net income to cash provided by (used in) operating activities that are not separately disclosed in the statement of cash flows (for example, cash received or cash paid during the current period for miscellaneous operating activities, net change during the reporting period in other assets or other liabilities). No definition available.
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- Definition
The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cash inflow received during the period as a deposit on account for application (deposits to retire or pay down) against an amount of debt owed to the entity. No definition available.
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- Definition
The net cash inflow or cash outflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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