ACQUISITION OF BUSINESS (Tables)

12 Months Ended

Dec. 31, 2011

Purchase Price Allocation of Net Tangible and Intangible Assets Acquired

The following table summarizes the purchase price allocation of net tangible and intangible assets acquired:

	May 29, 2009
Intangible assets subject to amortization:
Rights to the Framework Agreement	$	3,940,000
Rights to the Master Work Order		1,050,000
Total intangible assets		4,990,000
Prepaid expenses & other current assets		111,447
Accrued expenses		(118,800	)
Other current liabilities		(124,576	)
Deferred tax liability on nonrecurring gain on acquisition
of business		(1,173,816	)
Net assets acquired		3,684,255
Purchase price		1,500,000
Nonrecurring gain on acquisition of business, net of tax	$	2,184,255

Results of Operations of the Acquired Business Included in the Company's Consolidated Statements of Income

Results of operations of the acquired business included in the Company’s consolidated statements of income for the year ended December 31, 2009 were as follows:

	Year Ended
	December 31, 2009
Portal revenues	$	19,756,049
Operating expenses:
Cost of portal revenues, exclusive of depreciation & amortization		13,693,055
Nonrecurring gain on acquisition of business, net of tax		(2,184,255	)
Amortization of acquisition-related intangible assets		4,130,256
Depreciation & amortization		24,281
Total operating expenses		15,663,337
Operating income/income before income taxes		4,092,712
Income tax expense		(721,778	)
Net income	$	3,370,934

Unaudited Pro Forma Information of Acquisition

The following unaudited pro forma information presents consolidated financial results as if the acquisition was completed as of January 1, 2009.  This supplemental pro forma information has been prepared for comparative purposes only and is not intended to be indicative of what the Company’s results would have been had the acquisition been completed on January 1, 2009, nor does it purport to be indicative of any future results.

	Year Ended
	December 31, 2009
Revenues	$	147,262,679
Net income		15,719,226
Net income per common share:
Basic		0.25
Diluted		0.25