XML 81 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 734,140 $ (12,015,641)
Adjustments to reconcile to net cash provided by operating activities:    
Deferred tax provision 489,000   
Depreciation 159,890 172,404
Amortization of intangible assets 2,341,884 2,486,737
Stock based compensation charges 1,039,143 1,166,366
Changes in assets and liabilities:    
Restricted cash and investments (305) (395)
Accounts receivable, net 5,090,222 3,830,113
Prepaid and other assets 40,829 3,135,302
Accrued expenses and other liabilities (1,443,719) 8,395,948
Liability for option cancellations 193,546 26,054
Deferred revenue (2,056,702) (1,224,015)
Net cash provided by operating activities 6,587,928 5,972,873
CASH FLOWS FROM INVESTING ACTIVITIES:    
Web site and database development costs (2,131,408) (1,908,389)
Furniture, fixtures and equipment additions (208,372) (103,456)
Net cash (used in) investing activities (2,339,780) (2,011,845)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of debt   (5,690,940)
Payments for restricted stock units (1,109,475) (751,377)
Net cash (used in) financing activities (1,109,475) (6,442,317)
Net increase (decrease) in cash and cash equivalents 3,138,673 (2,481,289)
Cash and cash equivalents, beginning of period 4,960,850 22,152,802
Cash and cash equivalents, end of period 8,099,523 19,671,513
SUPPLEMENTAL INFORMATION:    
Cash paid during the period for interest    43,069
Cash paid during the period for income taxes, net of refunds 485,377 57,967
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Shares issued for vested employee restricted stock units 2,499 2,628
Disposal of fully depreciated furniture, fixtures and equipment $ 229,406 $ 19,638