XML 17 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
AUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended 12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:        
Net income/(loss) $ (9,626,712) $ (4,088,625) $ (2,780,686) $ (814,075)
Adjustment to reconcile income/(loss) to net cash used in operating activities        
Depreciation and amortization 2,332,041 722,390 1,361,169 166,284
Provision for Preference dividend 1,546,655 0 0 0
Changes in estimate of contingent consideration (400,000) 0    
Provision for doubtful debts/ (written back), net     0 410,712
Accrued interest on convertible notes     125,000 0
Change due to estimate correction     410,817 0
Stock, option, restricted stock unit and warrant expense 5,167,358 945,959 1,457,647 141,910
Deferred income taxes, net     (3,488,960) 0
Foreign exchange translation adjustment 11,085 0 (7,426) 0
Changes in assets and liabilities:        
Accounts receivable (1,107,178) (2,852,778) (3,187,828) (643,873)
Other current assets (779,097) (285,831) (198,428) (169,549)
Increase (decrease) in:        
Accounts payable and accrued expenses 1,056,277 2,561,321 3,604,706 (89,586)
Net cash provided by (used in) operating activities (1,799,571) (2,997,564) (2,703,989) (998,177)
Cash flows from investing activities:        
Purchase of fixed assets (7,797) 3,261,617 (29,062) (70,782)
Acquisition consideration (694,711) (8,779,040) (6,563,000) (4,670,000)
Investments 0 82,908 0 0
Net cash used in investing activities (702,508) (5,434,515) (6,592,062) (4,740,782)
Cash flows from financing activities:        
Proceeds from bank loan and convertible notes 1,966,296 4,467,879 3,794,522 6,235,935
Non-Controlling Interests net income     3,382 0
Additional stock issued 0 5,000,000 5,000,000 0
Net cash provided by financing activities 1,966,296 9,467,879 8,797,904 6,235,935
Net increase (decrease) in cash and cash equivalents (535,783) 1,035,800 (498,147) 496,976
Cash and cash equivalents as at beginning of the year 1,379,887 1,878,034 1,878,034 1,381,058
Cash at the end of the year $ 844,104 $ 2,913,834 1,379,887 1,878,034
SUPPLEMENTAL DISCLOSURES:        
Cash paid during the period for Interest     362,792 238,471
Cash paid during the period for Income taxes     $ 0 $ 0