0000930413-14-002799.txt : 20140624 0000930413-14-002799.hdr.sgml : 20140624 20140610111825 ACCESSION NUMBER: 0000930413-14-002799 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 20140331 FILED AS OF DATE: 20140610 DATE AS OF CHANGE: 20140610 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Everyday Health, Inc. CENTRAL INDEX KEY: 0001358483 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-36371 FILM NUMBER: 14901035 BUSINESS ADDRESS: STREET 1: 345 HUDSON STREET STREET 2: 16TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10014 BUSINESS PHONE: 718-797-0722 MAIL ADDRESS: STREET 1: 345 HUDSON STREET STREET 2: 16TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10014 FORMER COMPANY: FORMER CONFORMED NAME: WATERFRONT MEDIA INC DATE OF NAME CHANGE: 20060405 10-Q/A 1 c77485_10qa.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549 

________________________________________________________________________

FORM 10-Q/A

(Amendment No. 1)

________________________________________________________________________

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2014

or

 

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from               to               

 

Commission file number 001-36371

________________________________________________________________________

Everyday Health, Inc.

(Exact name of registrant as specified in its charter)

________________________________________________________________________

Delaware   80-0036062

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

   
345 Hudson Street, 16th Floor
New York, NY
  10014
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (646) 728-9500

 

(former name, former address and former fiscal year, if changed since last report) 

________________________________________________________________________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  o    No  x

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes x    No  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer”, and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer   o   Accelerated filer   o
Non-accelerated filer   x  (Do not check if a smaller reporting company)   Smaller reporting company   o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  o    No  x


The number of shares outstanding of the Registrant’s common stock, $0.01 par value per share, on May 9, 2014, was 30,091,942.

 



 

Explanatory Note

 

This Amendment No. 1 (the “Amendment”) to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, originally filed with the Securities and Exchange Commission on May 13, 2014 (the “Form 10-Q”), is being filed solely to furnish Exhibit 101 to the Form 10-Q, which provides items formatted in XBRL (eXtensible Business Reporting Language). As permitted by Rule 405(a)(2)(ii) of Regulation S-T, this Amendment is being filed within 30 days of the original filing date of the Form 10-Q.

 

No other changes have been made to the Form 10-Q except for the furnishing of the exhibit described above. The Amendment does not reflect subsequent events occurring after the filing date of the Form 10-Q or modify or update any disclosures set forth in the Form 10-Q.

 


 

Item 6.       Exhibits.

 

Exhibit

Number

  Description of Document
   
   
3.1(1)     Amended and Restated Certificate of Incorporation.
   
3.2(2)     Amended and Restated Bylaws.
   
10.1(3)     2014 Equity Incentive Plan and related documents.
   
10.2(4)     Everyday Health, Inc. 2014 Employee Stock Purchase Plan.
   
10.3(5)     Credit Agreement with Silicon Valley Bank, SunTrust Bank and Stifel Bank & Trust, dated as of March 6, 2014.
   
31.1(6)     Certification by Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
   
31.2(6)     Certification by Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
   
32.1(6)     Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
   
32.2(6)     Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
   
101.INS(7)   XBRL Instance Document
   
101.SCH(7)   XBRL Taxonomy Extension Schema
   
101.CAL(7)   XBRL Taxonomy Extension Calculation Linkbase
   
101.DEF(7)   XBRL Taxonomy Extension Definition Linkbase
   
101.LAB(7)   XBRL Taxonomy Extension Label Linkbase
   
101.PRE(7)   XBRL Taxonomy Extension Presentation Linkbase

___________________

 

(1)Incorporated herein by reference to Exhibit 3.1 to the Registrant’s Form 8-K (File No. 001-36371) filed on April 7, 2014.
(2)Incorporated herein by reference to Exhibit 3.4 to the Registrant’s Registration Statement on Form S-1 (File No. 333-194097), originally filed on February 24, 2014, as amended.
(3)Incorporated herein by reference to Exhibit 10.2 to the Registrant’s Registration Statement on Form S-1 (File No. 333-194097), originally filed on February 24, 2014, as amended.
(4)Incorporated herein by reference to Exhibit 10.14 to the Registrant’s Registration Statement on Form S-1 (File No. 333-194097), originally filed on February 24, 2014, as amended.
(5)Incorporated herein by reference to Exhibit 10.15 to the Registrant’s Registration Statement on Form S-1 (File No. 333-194097), originally filed on February 24, 2014, as amended.
(6)Previously filed as an exhibit to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014, filed on May 13, 2014.
(7)Furnished herewith. Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 furnished hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are not deemed filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

 


 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

  EVERYDAY HEALTH, INC.
   
  By:   /s/ Benjamin Wolin
     

Benjamin Wolin
Chief Executive Officer and Director

(Principal Executive Officer)

   
  By:   /s/ Brian Cooper
     

Brian Cooper
Executive Vice President & Chief Financial Officer

(Principal Financial and Accounting Officer)

 

 

Date: June 10, 2014

 

 


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Business</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Everyday Health, Inc. (the &#8220;Company&#8221;) operates a portfolio of health and wellness websites and mobile applications that provides consumers, healthcare professionals, advertisers and partners with content and advertising-based services. The Company was incorporated in the State of Delaware in January 2002 as Agora Media Inc., and changed its name to Waterfront Media Inc. in January 2004. In January 2010, the Company changed its name to Everyday Health, Inc. to better align its corporate identity with the <i>Everyday Health</i> brand. </p><br/> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>2. Significant Accounting Policies</b> </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Principles of Consolidation</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. The results of operations for companies acquired are included in the consolidated financial statements from the effective date of the acquisition. All significant intercompany accounts and transactions have been eliminated in consolidation. </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Interim Financial Statements</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The accompanying interim unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) on the same basis as the audited consolidated financial statements for the year ended December 31, 2013 and, in the opinion of management, include all adjustments of a normal recurring nature considered necessary to present fairly the Company&#8217;s financial position, results of operations and cash flows for the three month periods ended March 31, 2013 and 2014. The results of operations for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014 or any other future periods, due to seasonality and other business factors. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted under the rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;). These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company&#8217;s prospectus dated March 27, 2014, filed with the SEC on March 28, 2014 pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;). </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Use of Estimates</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience, current business factors and other available information. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition and deferred revenue, allowance for doubtful accounts, internal software development costs and website development costs, valuation of long-lived assets, goodwill and other intangible assets, income taxes and stock-based compensation. </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Reclassifications</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Certain reclassifications have been made to the prior period financial statements to conform to the March 31, 2014 presentation. </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Initial Public Offering and Pro Forma Presentation</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On April 2, 2014, the Company closed its initial public offering of common stock (&#8220;IPO&#8221;). The IPO, including the additional shares issued and sold on April 30, 2014 pursuant to the underwriters&#8217; exercise of their over-allotment option, resulted in net proceeds of $72,019, after deducting underwriting discounts and commissions and offering costs borne by the Company totaling approximately $8,325. As a result of the IPO, the Company&#8217;s common stock, redeemable convertible preferred stock, additional paid-in capital, and stock options and warrants to purchase stock changed as follows (collectively, the &#8220;IPO-Related Transactions&#8221;): i) the Company issued and sold 5,676,414 shares of common stock at a public offering price of $14.00 per share, ii) all of the Company&#8217;s redeemable convertible preferred stock outstanding automatically converted into an aggregate of 18,457,235 shares of common stock, including 577,055 additional shares of common stock related to the Series G redeemable convertible preferred stock ratchet provision (refer to Note 6), iii) certain selling stockholders exercised stock options and warrants for an aggregate of 262,686 shares of common stock, iv) 149,839 shares of common stock were issued upon the automatic net exercise of a warrant, and v) outstanding warrants to purchase 222,977 shares of redeemable convertible preferred stock automatically converted into warrants to purchase an aggregate of 148,650 shares of common stock, which resulted in the reclassification of the preferred stock warrant liability of $1,140 to additional paid-in capital. The unaudited pro forma March 31, 2014 consolidated balance sheet has been adjusted to reflect the above described IPO-Related Transactions. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The unaudited pro forma net loss attributable to common stockholders and unaudited pro forma net loss per share attributable to common stockholders for the three months ended March 31, 2014 has been adjusted to reflect, as of January 1, 2014, the completion of the Company&#8217;s IPO and related changes in stockholders&#8217; equity as described above, and a deemed dividend on Series G redeemable convertible preferred stock of $8,079 (refer to Notes 6 and 8). </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company believes that the unaudited pro forma consolidated balance sheet, unaudited pro forma net loss attributable to common stockholders and unaudited pro forma net loss per share attributable to common stockholders provides material information to investors, as the historical reported amounts as of and for the three months ended March 31, 2014 were significantly impacted by the closing of the IPO in April 2014. Therefore, the disclosure of the unaudited pro forma consolidated balance sheet, unaudited pro forma net loss attributable to common stockholders and unaudited pro forma net loss per share attributable to common stockholders provides measures of equity, net loss and net loss per common share that are comparable to what will be reported by the Company in its consolidated financial statements for the periods subsequent to and including April 2014. </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Revenue Recognition and Deferred Revenue</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company generates its revenue primarily through advertising and sponsorships, and premium services, including subscriptions and licensing fees. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Advertising revenue is recognized in the period in which the advertisement is delivered. Revenue from sponsorships is recognized over the period the Company substantially satisfies its contractual obligations as required under the respective sponsorship agreements. When contractual arrangements contain multiple elements, revenue is allocated to each element based on its relative fair value determined using prices charged when elements are sold separately. In instances where individual deliverables are not sold separately, or when third-party evidence is not available, fair value is determined based on management&#8217;s best estimate of selling price. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Subscriptions are generally paid in advance on a monthly, quarterly or annual basis. Subscription revenue, after deducting refunds and charge-backs, is recognized on a straight-line basis ratably over the subscription periods. Licensing revenue is generally recognized over the life of the contract. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Deferred revenue relates to: (i) subscription fees for which amounts have been collected but for which revenue has not been recognized, and (ii) advertising and sponsorship fees and licensing fees billed in advance of when the revenue is to be earned. </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Cost of Revenues</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Cost of revenues consists principally of the expenses associated with aggregating the total audience across the Company&#8217;s portfolio of websites, including (i) royalty expenses for licensing content for certain websites within the portfolio and for the portion of advertising revenue the Company pays to the owners of certain other websites within the portfolio, and (ii) media costs associated with audience aggregation activities. Cost of revenues also includes credit card fees and service charges associated with subscription fees for the Company&#8217;s premium services. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Media costs consist primarily of fees paid to online publishers, internet search companies and other media channels for search engine and database marketing, and display and television advertising. These media activities are attributable to revenue-generating and audience aggregation events, designed to increase the audience to the websites the Company operates, increase the number of subscribers to premium services and grow the Company&#8217;s registered user base. </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Other Expense</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> During the three months ended March 31, 2014, the Company wrote-off unamortized deferred financing costs totaling $2,845 and incurred prepayment fees of $1,016 in connection with the refinancing of its credit facilities, which, together with the mark-to-market adjustment on certain preferred stock warrants of $253, is reflected as other expense in the accompanying consolidated statements of operations. There were no similar write-offs or charges for the three months ended March 31, 2013. </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Comprehensive Income</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company has no items of other comprehensive income, and accordingly net loss is equal to comprehensive loss for all periods presented. </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Fair Value of Financial Instruments</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Due to their short-term maturities, the carrying amounts of the Company&#8217;s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, approximate fair value. Cash equivalents principally consist of the Company&#8217;s investment in U.S. Treasury securities money market funds. The fair value of these investment funds is based on quoted market prices, which are Level 1 inputs, pursuant to the fair value accounting standard, which establishes a framework for measuring fair value and requires disclosures about fair value measurements by establishing a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value of the Company&#8217;s debt approximates the recorded amounts as the interest rates on the credit facilities are based on market interest rates. </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Property and Equipment</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, ranging from three to five years. Amortization of leasehold improvements is computed using the straight-line method over the shorter of the lease term or the estimated useful life of the improvement. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company incurs costs to develop software for internal use. The Company expenses all costs that relate to the planning and post-implementation phases of development as product development expense. Costs incurred in the application development phase, consisting principally of payroll and related benefits, are capitalized. Upon completion, the capitalized costs are amortized using the straight-line method over their estimated useful lives, which is generally three years. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company also incurs costs to develop its websites and mobile applications. The Company expenses all costs that relate to the planning and post-implementation phases of development as product development expense. Costs incurred in the application development phase, consisting principally of third-party consultants and related charges, and the costs of content determined to provide a future economic benefit, are capitalized. Upon completion, the capitalized costs are amortized using the straight-line method over their estimated useful lives, which is generally three years. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. There were no indicators of impairment of the Company&#8217;s property and equipment during the three months ended 2013 and 2014. </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Segment Information</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company and its subsidiaries are organized in a single operating segment, providing online health solutions, and the Company also has one reportable segment. Substantially all of the Company&#8217;s revenues are derived from U.S. sources. </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Recent Accounting Standards</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In April 2014, the Financial Accounting Standards Board issued amended guidance for reporting discontinued operations. Under the new guidance, only disposals that represent a strategic shift having a material impact on an entity&#8217;s operations and financial results shall be reported as discontinued operations, with expanded disclosures. This will be effective for the first annual reporting period beginning after December 15, 2015, with early adoption permitted. The Company is currently assessing the impact, if any, the guidance with have upon adoption. </p><br/> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Principles of Consolidation</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. The results of operations for companies acquired are included in the consolidated financial statements from the effective date of the acquisition. All significant intercompany accounts and transactions have been eliminated in consolidation</p> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Interim Financial Statements</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The accompanying interim unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) on the same basis as the audited consolidated financial statements for the year ended December 31, 2013 and, in the opinion of management, include all adjustments of a normal recurring nature considered necessary to present fairly the Company&#8217;s financial position, results of operations and cash flows for the three month periods ended March 31, 2013 and 2014. The results of operations for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014 or any other future periods, due to seasonality and other business factors. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted under the rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;). These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company&#8217;s prospectus dated March 27, 2014, filed with the SEC on March 28, 2014 pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;).</p> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Use of Estimates</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience, current business factors and other available information. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition and deferred revenue, allowance for doubtful accounts, internal software development costs and website development costs, valuation of long-lived assets, goodwill and other intangible assets, income taxes and stock-based compensation.</p> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Reclassifications</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Certain reclassifications have been made to the prior period financial statements to conform to the March 31, 2014 presentation.</p> Initial Public Offering and Pro Forma PresentationOn April 2, 2014, the Company closed its initial public offering of common stock ("IPO"). The IPO, including the additional shares issued and sold on April 30, 2014 pursuant to the underwriters' exercise of their over-allotment option, resulted in net proceeds of $72,019, after deducting underwriting discounts and commissions and offering costs borne by the Company totaling approximately $8,325. As a result of the IPO, the Company's common stock, redeemable convertible preferred stock, additional paid-in capital, and stock options and warrants to purchase stock changed as follows (collectively, the "IPO-Related Transactions"): i) the Company issued and sold 5,676,414 shares of common stock at a public offering price of $14.00 per share, ii) all of the Company's redeemable convertible preferred stock outstanding automatically converted into an aggregate of 18,457,235 shares of common stock, including 577,055 additional shares of common stock related to the Series G redeemable convertible preferred stock ratchet provision (refer to Note 6), iii) certain selling stockholders exercised stock options and warrants for an aggregate of 262,686 shares of common stock, iv) 149,839 shares of common stock were issued upon the automatic net exercise of a warrant, and v) outstanding warrants to purchase 222,977 shares of redeemable convertible preferred stock automatically converted into warrants to purchase an aggregate of 148,650 shares of common stock, which resulted in the reclassification of the preferred stock warrant liability of $1,140 to additional paid-in capital. The unaudited pro forma March 31, 2014 consolidated balance sheet has been adjusted to reflect the above described IPO-Related Transactions.The unaudited pro forma net loss attributable to common stockholders and unaudited pro forma net loss per share attributable to common stockholders for the three months ended March 31, 2014 has been adjusted to reflect, as of January 1, 2014, the completion of the Company's IPO and related changes in stockholders' equity as described above, and a deemed dividend on Series G redeemable convertible preferred stock of $8,079 (refer to Notes 6 and 8).The Company believes that the unaudited pro forma consolidated balance sheet, unaudited pro forma net loss attributable to common stockholders and unaudited pro forma net loss per share attributable to common stockholders provides material information to investors, as the historical reported amounts as of and for the three months ended March 31, 2014 were significantly impacted by the closing of the IPO in April 2014. Therefore, the disclosure of the unaudited pro forma consolidated balance sheet, unaudited pro forma net loss attributable to common stockholders and unaudited pro forma net loss per share attributable to common stockholders provides measures of equity, net loss and net loss per common share that are comparable to what will be reported by the Company in its consolidated financial statements for the periods subsequent to and including April 2014. 72019000 8325000 5676414 14.00 18457235 577055 262686 149839 222977 148650 1140000 8079000 <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Revenue Recognition and Deferred Revenue</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company generates its revenue primarily through advertising and sponsorships, and premium services, including subscriptions and licensing fees. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Advertising revenue is recognized in the period in which the advertisement is delivered. Revenue from sponsorships is recognized over the period the Company substantially satisfies its contractual obligations as required under the respective sponsorship agreements. When contractual arrangements contain multiple elements, revenue is allocated to each element based on its relative fair value determined using prices charged when elements are sold separately. In instances where individual deliverables are not sold separately, or when third-party evidence is not available, fair value is determined based on management&#8217;s best estimate of selling price. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Subscriptions are generally paid in advance on a monthly, quarterly or annual basis. Subscription revenue, after deducting refunds and charge-backs, is recognized on a straight-line basis ratably over the subscription periods. Licensing revenue is generally recognized over the life of the contract. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Deferred revenue relates to: (i) subscription fees for which amounts have been collected but for which revenue has not been recognized, and (ii) advertising and sponsorship fees and licensing fees billed in advance of when the revenue is to be earned.</p> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Cost of Revenues</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Cost of revenues consists principally of the expenses associated with aggregating the total audience across the Company&#8217;s portfolio of websites, including (i) royalty expenses for licensing content for certain websites within the portfolio and for the portion of advertising revenue the Company pays to the owners of certain other websites within the portfolio, and (ii) media costs associated with audience aggregation activities. Cost of revenues also includes credit card fees and service charges associated with subscription fees for the Company&#8217;s premium services. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Media costs consist primarily of fees paid to online publishers, internet search companies and other media channels for search engine and database marketing, and display and television advertising. These media activities are attributable to revenue-generating and audience aggregation events, designed to increase the audience to the websites the Company operates, increase the number of subscribers to premium services and grow the Company&#8217;s registered user base.</p> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Other Expense</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> During the three months ended March 31, 2014, the Company wrote-off unamortized deferred financing costs totaling $2,845 and incurred prepayment fees of $1,016 in connection with the refinancing of its credit facilities, which, together with the mark-to-market adjustment on certain preferred stock warrants of $253, is reflected as other expense in the accompanying consolidated statements of operations. There were no similar write-offs or charges for the three months ended March 31, 2013.</p> 2845000 1016000 253000 <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Comprehensive Income</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company has no items of other comprehensive income, and accordingly net loss is equal to comprehensive loss for all periods presented.</p> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Fair Value of Financial Instruments</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Due to their short-term maturities, the carrying amounts of the Company&#8217;s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, approximate fair value. Cash equivalents principally consist of the Company&#8217;s investment in U.S. Treasury securities money market funds. The fair value of these investment funds is based on quoted market prices, which are Level 1 inputs, pursuant to the fair value accounting standard, which establishes a framework for measuring fair value and requires disclosures about fair value measurements by establishing a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value of the Company&#8217;s debt approximates the recorded amounts as the interest rates on the credit facilities are based on market interest rates.</p> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Property and Equipment</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, ranging from three to five years. Amortization of leasehold improvements is computed using the straight-line method over the shorter of the lease term or the estimated useful life of the improvement. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company incurs costs to develop software for internal use. The Company expenses all costs that relate to the planning and post-implementation phases of development as product development expense. Costs incurred in the application development phase, consisting principally of payroll and related benefits, are capitalized. Upon completion, the capitalized costs are amortized using the straight-line method over their estimated useful lives, which is generally three years. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company also incurs costs to develop its websites and mobile applications. The Company expenses all costs that relate to the planning and post-implementation phases of development as product development expense. Costs incurred in the application development phase, consisting principally of third-party consultants and related charges, and the costs of content determined to provide a future economic benefit, are capitalized. Upon completion, the capitalized costs are amortized using the straight-line method over their estimated useful lives, which is generally three years. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. There were no indicators of impairment of the Company&#8217;s property and equipment during the three months ended 2013 and 2014.</p> three five three three <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Segment Information</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company and its subsidiaries are organized in a single operating segment, providing online health solutions, and the Company also has one reportable segment. Substantially all of the Company&#8217;s revenues are derived from U.S. sources.</p> 1 <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Recent Accounting Standards</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In April 2014, the Financial Accounting Standards Board issued amended guidance for reporting discontinued operations. Under the new guidance, only disposals that represent a strategic shift having a material impact on an entity&#8217;s operations and financial results shall be reported as discontinued operations, with expanded disclosures. This will be effective for the first annual reporting period beginning after December 15, 2015, with early adoption permitted. The Company is currently assessing the impact, if any, the guidance with have upon adoption</p> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>3. Discontinued Operations</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In November 2013, the Company completed the sale of its Doctor Solutions business, which provided online directories and other marketing services to healthcare professionals. The sales price was $1,000. The sale represented a disposal of a component of an entity whose operations and cash flows were eliminated from the Company&#8217;s ongoing business after the sale. As such, the operating results have been reported as discontinued operations in the consolidated statements of operations for the three months ended March 31, 2013. As the sale was completed during 2013, there were no results from discontinued operations to report for the three months ended March 31, 2014. Revenues and losses from discontinued operations before tax were $2,202 and $1,745, respectively, for the three months ended March 31, 2013. No benefit for income taxes was provided as the Company recorded a full valuation allowance against the net operating losses (&#8220;NOLs&#8221;) generated by the discontinued operations. </p><br/> 1000000 2202000 -1745000 <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>4. Goodwill and Other Intangible Assets</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The carrying value of the Company&#8217;s goodwill was $82,153 as of March 31, 2014. Goodwill is tested for impairment on an annual basis as of October 1, and whenever events or circumstances indicate that the carrying value of the asset may not be recoverable. Application of the impairment test requires judgment and results in impairment being recognized if the carrying value of the asset exceeds its fair value. No indicators of impairment were noted during or since the Company&#8217;s last evaluation of goodwill at October 1, 2013. Similarly, the Company&#8217;s definite-lived intangible assets with a net carrying value of $9,190 at March 31, 2014, consisting principally of trade names, customer relationships and agreements with certain of the Company&#8217;s website partners, is reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. There were no indicators of impairment of the Company&#8217;s definite-lived intangible assets during the three months ended 2013 and 2014. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Definite-lived intangible assets consist of the following: </p><br/><table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid"> &#160; </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold" colspan="14"> December 31, 2013 </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold" colspan="14"> March 31, 2014 </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> </tr> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Gross</b><br /> <b>carrying</b><br /> <b>amount</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Accumulated</b><br /> <b>amortization</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Net<br /> carrying<br /> amount</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Weighted-</b><br /> <b>average</b><br /> <b>remaining</b><br /> <b>useful</b><br /> <b>life<sup>(1)</sup></b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Gross</b><br /> <b>carrying</b><br /> <b>amount</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Accumulated</b><br /> <b>amortization</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Net carrying amount</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Weighted-</b><br /> <b>average</b><br /> <b>remaining</b><br /> <b>useful</b><br /> <b>life<sup>(1)</sup></b> </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; WIDTH: 21%; FONT-FAMILY: Times New Roman, Times, Serif"> Customer relationships </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 6%; FONT-FAMILY: Times New Roman, Times, Serif"> 11,910 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 7%; FONT-FAMILY: Times New Roman, Times, Serif"> (10,481 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 6%; FONT-FAMILY: Times New Roman, Times, Serif"> 1,429 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 7%; FONT-FAMILY: Times New Roman, Times, Serif"> 2.9 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 6%; FONT-FAMILY: Times New Roman, Times, Serif"> 11,910 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 7%; FONT-FAMILY: Times New Roman, Times, Serif"> (10,624 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 6%; FONT-FAMILY: Times New Roman, Times, Serif"> 1,286 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 7%; FONT-FAMILY: Times New Roman, Times, Serif"> 2.7 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Other intangibles </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 3,900 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> (2,925 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 975 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 1.7 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 3,900 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> (3,064 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 836 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 1.5 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Trade names </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 10,505 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> (3,174 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 7,331 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 7.0 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 10,505 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> (3,437 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 7,068 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 6.7 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Total </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 26,315 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> (16,580 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 9,735 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 26,315 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> (17,125 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 9,190 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> </table><br/><table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; WIDTH: 4%; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> <sup>(1)</sup> </td> <td style="WIDTH: 96%; FONT-FAMILY: Times New Roman, Times, Serif"> <font style="FONT-SIZE: 10pt">The calculation of the weighted-average remaining useful life is based on weighting the net book value of each asset in its group, and applying the weight to its respective remaining amortization period.</font> </td> </tr> </table><br/><p style="TEXT-INDENT: 18pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Amortization expense relating to the definite-lived intangible assets totaled $1,015 and $545 for the three months ended March 31, 2013 and 2014, respectively, and is included in general and administrative expense in the accompanying consolidated statements of operations. </p><br/><p style="TEXT-INDENT: 18pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Future amortization expense of the intangible assets is estimated to be as follows: </p><br/><table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> Year ending December 31: </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid" colspan="2"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; WIDTH: 85%; FONT-FAMILY: Times New Roman, Times, Serif"> 2014 (April 1st to December 31st) </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 1,636 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> 2015 </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1,938 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> 2016 </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1,248 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> 2017 </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1,239 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> 2018 </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1,051 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Thereafter </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 2,078 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Total </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 9,190 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> </table><br/> 9190000 1015000 545000 Definite-lived intangible assets consist of the following:<br /> <br /><table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid"> &#160; </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold" colspan="14"> December 31, 2013 </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold" colspan="14"> March 31, 2014 </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> </tr> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Gross</b><br /> <b>carrying</b><br /> <b>amount</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Accumulated</b><br /> <b>amortization</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Net<br /> carrying<br /> amount</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Weighted-</b><br /> <b>average</b><br /> <b>remaining</b><br /> <b>useful</b><br /> <b>life<sup>(1)</sup></b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Gross</b><br /> <b>carrying</b><br /> <b>amount</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Accumulated</b><br /> <b>amortization</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Net carrying amount</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <b>Weighted-</b><br /> <b>average</b><br /> <b>remaining</b><br /> <b>useful</b><br /> <b>life<sup>(1)</sup></b> </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; WIDTH: 21%; FONT-FAMILY: Times New Roman, Times, Serif"> Customer relationships </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 6%; FONT-FAMILY: Times New Roman, Times, Serif"> 11,910 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 7%; FONT-FAMILY: Times New Roman, Times, Serif"> (10,481 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 6%; FONT-FAMILY: Times New Roman, Times, Serif"> 1,429 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 7%; FONT-FAMILY: Times New Roman, Times, Serif"> 2.9 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 6%; FONT-FAMILY: Times New Roman, Times, Serif"> 11,910 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 7%; FONT-FAMILY: Times New Roman, Times, Serif"> (10,624 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 6%; FONT-FAMILY: Times New Roman, Times, Serif"> 1,286 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; WIDTH: 7%; FONT-FAMILY: Times New Roman, Times, Serif"> 2.7 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Other intangibles </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 3,900 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> (2,925 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 975 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 1.7 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 3,900 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> (3,064 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 836 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 1.5 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Trade names </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 10,505 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> (3,174 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 7,331 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 7.0 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 10,505 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> (3,437 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 7,068 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 6.7 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Total </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 26,315 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> (16,580 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 9,735 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 26,315 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> (17,125 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> 9,190 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> </table><table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; WIDTH: 4%; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> <sup>(1)</sup> </td> <td style="WIDTH: 96%; FONT-FAMILY: Times New Roman, Times, Serif"> <font style="FONT-SIZE: 10pt">The calculation of the weighted-average remaining useful life is based on weighting the net book value of each asset in its group, and applying the weight to its respective remaining amortization period.</font> </td> </tr> </table> 11910000 -10481000 1429000 P2Y328D 11910000 -10624000 1286000 P2Y255D 3900000 -2925000 975000 P1Y255D 3900000 -3064000 836000 P1Y6M 10505000 -3174000 7331000 P7Y 10505000 -3437000 7068000 P6Y255D 26315000 -16580000 9735000 26315000 -17125000 Future amortization expense of the intangible assets is estimated to be as follows:<br /> <br /><table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> Year ending December 31: </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid" colspan="2"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; WIDTH: 85%; FONT-FAMILY: Times New Roman, Times, Serif"> 2014 (April 1st to December 31st) </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 1,636 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> 2015 </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1,938 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> 2016 </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1,248 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> 2017 </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1,239 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> 2018 </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1,051 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Thereafter </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 2,078 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Total </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 9,190 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> </table> 1636000 1938000 1248000 1239000 1051000 2078000 <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>5. Long-Term Debt</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On March 6, 2014, the Company completed a refinancing of its credit facilities. Under the terms of the new credit facility agreement with a syndicated bank group, the Company maintains a revolver (&#8220;Revolver&#8221;) with a maximum borrowing limit of $35,000 and a term loan (&#8220;Term Loan&#8221;) of $40,000. The repayment terms of the Revolver provide for quarterly interest payments, with the principal being due in full in March 2019. The repayment terms of the Term Loan provide for quarterly interest and principal payments, with a maturity date of March 2019. The interest rate on the new credit facility (hereinafter the &#8220;Credit Facility&#8221;) is equal to the London Inter-Bank Offered Rate, or LIBOR, plus a variable rate ranging from 2.75% to 4.0% depending on the Company&#8217;s consolidated leverage ratio, as defined in the Credit Facility agreement. As of March 31, 2014, the interest rate on the Credit Facility was 4.23%. The Company drew the full $40,000 Term Loan and $32,300 on the Revolver at closing, and such amounts were outstanding as of March 31, 2014. See Note 11 for discussion of the Revolver pay-down in April 2014. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> During the three months ended March 31, 2014, the Company incurred financing costs on the Credit Facility of $1,211, which have been deferred and are being amortized using the effective interest rate method through the final maturity of the Credit Facility, and incurred prepayment fees of $1,016 on the former credit facilities, which was charged to expense. Deferred financing costs are recorded in other assets in the accompanying consolidated balance sheets. In connection with the refinancing, during the three months ended March 31, 2014, the Company wrote-off unamortized deferred financing costs of $2,845 related to the former credit facilities. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Credit Facility contains certain financial and operational covenants, including requirements to maintain a minimum consolidated fixed charge coverage ratio and a maximum consolidated leverage ratio, each as defined in the Credit Facility agreement, as well as restrictions on certain types of dispositions, mergers and acquisitions, indebtedness, investments, liens and capital expenditures, issuance of capital stock and the Company&#8217;s ability to pay dividends. The Credit Facility is secured by a first priority security interest in substantially all of the Company&#8217;s existing and future assets. The Company was in compliance with the financial and operational covenants of the Credit Facility as of March 31, 2014. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In connection with the refinancing discussed above, the Company repaid all outstanding borrowings under its former credit facilities, and such credit facilities were terminated. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Under the former senior credit facility, as amended, with a bank, the Company maintained (i) an accounts receivable-backed revolver, with a maximum borrowing limit equal to the lesser of $30,000 and 80% of eligible accounts receivable, and (ii) an $8,500 term loan. As of December 31, 2013, outstanding borrowings under the former revolver and former term loan amounted to $30,000 and $1,333, respectively, and as of such date, the interest rates on the former revolver and former term loan were 5.25% and 6.50%, respectively. The principal under the former revolver was due in full in September 2015. The maturity date of the former term loan was December 2014. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Under the Company&#8217;s former subordinated credit facility, as amended, the Company maintained a $40,000 term loan. As of December 31, 2013, outstanding borrowings under the former subordinated credit facility amounted to $40,000 and the interest rate on such facility was 14.0%. The maturity date of the former subordinated credit facility was October 2015 with respect to $35,000 and November 2016 with respect to $5,000. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The former senior credit facility and former subordinated credit facility contained certain financial and operational covenants, including restrictions on certain types of dispositions, mergers and acquisitions, indebtedness, investments, liens and capital expenditures, issuance of capital stock and the ability of the Company to pay dividends and make other distributions. The Company was in compliance with the financial and operational covenants of the former credit facility and former subordinated credit facility as of December 31, 2013. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In connection with the former senior credit facility and former subordinated credit facility, as well as other former credit facilities that were in place previously, the Company issued to the lenders warrants to purchase a total of: i) 592,501 shares of common stock at $0.015 per share, ii) 112,959 shares of Series F redeemable convertible preferred stock at $7.61 per share, and (iii) 110,018 shares of Series C redeemable convertible preferred stock at $3.27 per share. Each of the above warrants were immediately exercisable and, accordingly, the Company calculated the fair value of the warrants using the Black-Scholes option pricing model and recorded deferred financing costs related to the issuances of the warrants in the respective periods. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On April 2, 2014, in connection with the closing of the Company&#8217;s IPO, the above warrants to purchase 222,977 shares of preferred stock were converted into warrants to purchase an aggregate of 148,650 shares of common stock. This conversion resulted in the warrant liability of $1,140 being reclassified to additional paid-in capital as of April 2, 2014. </p><br/> 35000000 40000000 The interest rate on the new credit facility (hereinafter the "Credit Facility") is equal to the London Inter-Bank Offered Rate, or LIBOR, plus a variable rate ranging from 2.75% to 4.0% depending on the Company's consolidated leverage ratio 0.0275 0.040 0.0423 40000000 32300000 1211000 1016000 2845000 Under the former senior credit facility, as amended, with a bank, the Company maintained (i) an accounts receivable-backed revolver, with a maximum borrowing limit equal to the lesser of $30,000 and 80% of eligible accounts receivable, and (ii) an $8,500 term loan. 30000000 1333000 0.0525 0.0650 40000000 0.140 592501 0.015 112959 7.61 110018 3.27 222977 148650 1140000 <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>6. 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WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 3,450,000 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 3,450,000 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 1,053 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 1,725 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Series B </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 2,547,252 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 2,547,252 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 4,413 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 4,500 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; 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FONT-FAMILY: Times New Roman, Times, Serif"> 5,882 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 6,000 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Series D </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 3,934,855 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 3,934,855 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 25,354 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 27,027 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; 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FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 71,250 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 15,789 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Series F </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 3,064,087 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 2,951,128 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 22,468 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 22,468 </td> <td style="TEXT-ALIGN: left; 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</td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 3,172,436 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 28,346 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 37,118 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Total </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 27,204,144 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 26,820,270 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 158,766 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 114,627 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> </table><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Conversion of the Redeemable Convertible Preferred Stock</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Each share of redeemable convertible preferred stock was convertible at the option of the holder, at any time, into such number of fully paid shares of the Company&#8217;s common stock equal to the applicable original issue price for such share of redeemable convertible preferred stock divided by the applicable conversion price for such share of redeemable convertible preferred stock then in effect. As of December 31, 2013, the original issue prices and the conversion prices for each series of redeemable convertible preferred stock were as follows: $0.50 for Series A, $1.77 for Series B, $3.27 for Series C, $6.87 for Series D, $7.98 for Series E, $7.61 for Series F and $9.00 for Series G. The conversion prices for each series of redeemable convertible preferred stock were subject to adjustment upon the occurrence of certain specified events, including stock dividends, stock splits, combinations or other similar recapitalizations, and issuance of capital stock at a price below the conversion price in effect for such series of redeemable convertible preferred stock. The conversion price for the Series G convertible preferred stock was also subject to further adjustment in the event of an IPO with a public offering price of less than $11.88 per share. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In connection with the March 14, 2014 1-for-1.5 reverse stock split, the conversion prices for each series of redeemable convertible preferred stock were subject to a 1-for-1.5 adjustment. As a result, upon the closing of the IPO, the 23,647,834 outstanding shares of Series A, Series B, Series C, Series D, Series E and Series F redeemable convertible preferred stock converted into a total of 15,765,223 shares of common stock. Based on this 1-for-1.5 adjustment, the conversion price for the IPO adjustment specific to the Series G shares increased from $11.88 per share to $17.82 per share. Based on the public offering price of $14.00 per share, the 3,172,436 outstanding shares of Series G convertible preferred stock converted into a total of 2,692,012 shares of common stock, including an additional 577,055 shares of common stock issued as a result of the specific Series G IPO adjustment feature or &#8220;ratchet provision.&#8221; The ratchet provision, which is treated as a deemed stock dividend for accounting purposes, was calculated as the difference between the number of shares of common stock each holder of Series G would receive upon the automatic conversion of the Series G shares and the number of shares contingently issuable just prior to the automatic conversion based on the initial conversion price multiplied by the IPO price of $14.00 per share, which represents the fair value of the common stock on the date of conversion. On April 2, 2014, the Company recorded a one-time $8,079 non-cash preferred stock deemed dividend related to the issuance of additional common shares resulting from the ratchet provision. Such non-cash preferred stock deemed dividend results in an increase to net loss to arrive at net loss attributable to common stockholders and, consequently, results in an adjustment to the Company&#8217;s computation of net loss per share attributable to common stockholders (refer to Note 8). </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Issuance of Common Stock Warrant</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> During the three months ended March 31, 2014, the Company issued to one of its website partners a warrant to purchase 100,000 shares of common stock at $0.015 per share, in connection with the website partner agreeing to extend the advertising representation agreement by two years. The warrant was immediately exercisable and, accordingly, the Company calculated the fair value of the warrant using the Black-Scholes option pricing model and recorded $1,131 of deferred financing costs related to the issuance, which will be amortized to the Company&#8217;s operating results over the remaining life of the agreement. </p><br/> On March 12, 2014, the Company's Board of Directors and stockholders approved an amendment to the Company's amended and restated certificate of incorporation effecting a 1-for-1.5 reverse stock split of the Company's issued and outstanding shares of common stock. The par value of the common stock was not adjusted as a result of the reverse stock split. All issued and outstanding common stock and per share amounts contained in the Company's consolidated financial statements and related notes thereto have been retroactively adjusted to reflect this reverse stock split for all periods presented. The reverse stock split was effected on March 14, 2014. 0.50 1.77 3.27 6.87 7.98 7.61 9.00 11.88 23647834 15765223 17.82 14.00 3172436 2692012 577055 8079000 100000 0.015 1131000 The number of shares of the Company&#8217;s redeemable convertible preferred stock was not adjusted in connection with the 1-for-1.5 reverse stock split of common stock referred to above. The Company&#8217;s redeemable convertible preferred stock consisted of the following at each of December 31, 2013 and March 31, 2014:<br /> <br /><table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid"> <b>&#160;</b> </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid"> <b>&#160;</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid" colspan="6"> <b>Shares</b> </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid"> </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> <b>&#160;</b> </td> <td style="TEXT-ALIGN: center; 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VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-RIGHT: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <font style="FONT-SIZE: 10pt"><b>net of</b></font><br /> <font style="FONT-SIZE: 10pt"><b>expenses</b></font> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold" colspan="2"> <font style="FONT-SIZE: 10pt"><b>Liquidation</b></font><br /> <font style="FONT-SIZE: 10pt"><b>preference</b></font> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; 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</td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; WIDTH: 43%; FONT-FAMILY: Times New Roman, Times, Serif"> Series A </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; 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</td> <td style="WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 1,725 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Series B </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 2,547,252 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 2,547,252 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 4,413 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 4,500 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Series C </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1,943,651 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1,833,633 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 5,882 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 6,000 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Series D </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 3,934,855 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 3,934,855 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 25,354 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 27,027 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Series E </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 8,930,966 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 8,930,966 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 71,250 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 15,789 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Series F </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 3,064,087 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 2,951,128 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 22,468 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 22,468 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Series G </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 3,333,333 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 3,172,436 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 28,346 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 37,118 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Total </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 27,204,144 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 26,820,270 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 158,766 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 114,627 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> </table> 3450000 3450000 1053000 1725000 2547252 2547252 4413000 4500000 1943651 1833633 5882000 6000000 3934855 3934855 25354000 27027000 8930966 8930966 71250000 15789000 3064087 2951128 22468000 22468000 3333333 28346000 37118000 26820270 <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>7. Stock-Based Compensation</b> </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Stock Options</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company has historically granted non-statutory stock options to employees, directors and consultants of the Company pursuant to its 2003 Stock Option Plan, as amended (the &#8220;2003 Plan&#8221;). The Board of Directors and the Company&#8217;s stockholders subsequently approved the 2014 Equity Incentive Plan (the &#8220;2014 Plan&#8221;), which became effective immediately upon the signing of the underwriting agreement related to the IPO on March 27, 2014. Upon the effectiveness of the 2014 Plan, no additional options have been or will be granted under the 2003 Plan. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The aggregate number of shares of the Company&#8217;s common stock that may be issued pursuant to the 2014 Plan is the sum of (1) 200,000 shares, (2) the 388,781 shares reserved for issuance under the 2003 Plan at the time the 2014 Plan became effective, and (3) any shares subject to outstanding stock options that would otherwise have returned to the 2003 Plan (such as upon the expiration or termination of stock options prior to vesting). In addition, the number of shares of common stock reserved for issuance under the 2014 Plan will automatically increase on January 1 of each year from January 1, 2015 through January 1, 2024 by the lesser of (a) 4% of the total number of shares of the Company&#8217;s common stock outstanding on December 31 of the preceding calendar year and (b) a number of shares determined by the Board of Directors. As of March 31, 2014, 593,574 shares have been reserved for issuance under the 2014 Plan and no shares have been granted under the 2014 Plan. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The following table summarizes stock option activity for the three months ended March 31, 2014: </p><br/><table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold" colspan="2"> <b>Number of</b><br /> <b>options</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold" colspan="2"> <b>Weighted-</b><br /> <b>average</b><br /> <b>exercise</b><br /> <b>price</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold" colspan="2"> <b>Weighted-</b><br /> <b>average</b><br /> <b>remaining</b><br /> <b>contractual</b><br /> <b>life (years)</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold" colspan="2"> <b>Aggregate</b><br /> <b>intrinsic</b><br /> <b>value</b> </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; WIDTH: 40%; FONT-FAMILY: Times New Roman, Times, Serif"> Outstanding at December 31, 2013 </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 5,457,791 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 7.61 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 6.54 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 20,396 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Granted </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1,472,101 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 14.53 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Exercised </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> (113,580 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 4.26 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Cancelled </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> (142,506 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> 8.22 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; 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PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Exercisable at March 31, 2014 </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 3,965,974 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 7.33 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 5.59 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 26,396 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> </table><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Proceeds from the exercise of options and the total intrinsic value of the options exercised were $1,172 and $910, respectively, for the three months ended March 31, 2014. Proceeds from the exercise of options and the total intrinsic value of the options exercised were $3 and $12, respectively, for the three months ended March 31, 2013. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> There were no options granted during the three months ended March 31, 2013. The weighted-average fair value per share at date of grant for options granted during the three months ended March 31, 2014 was $7.56. The fair value of options granted is estimated on the date of grant using the Black-Scholes option pricing model and recognized in expense over the vesting period of the options using the graded attribution method. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The following table presents the weighted-average assumptions used to estimate the fair value of options granted in the three months ended March 31, 2013 and 2014: </p><br/><table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid"> &#160; </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> 2013 </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> 2014 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; WIDTH: 70%; FONT-FAMILY: Times New Roman, Times, Serif"> Volatility </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 50.26 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> % </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 49.77 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> % </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Expected life (years) </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 6.25 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 6.25 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Risk-free interest rate </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1.32 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> % </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1.92 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> % </td> </tr> <tr style="BACKGROUND-COLOR: white; 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TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#8212; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> </table><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The expected stock price volatilities are estimated based on historical realized volatilities of comparable publicly traded company stock prices over a period of time commensurate with the expected term of the option award. The expected life represents the period of time for which the options granted are expected to be outstanding. The Company used the simplified method for determining expected life for options qualifying for treatment due to the limited history the Company currently has with option exercise activity. The risk-free interest rate is based on the U.S. Treasury yield curve for periods equal to the expected term of the options on the grant date. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Total stock-based compensation expense was $480 (including $28 relating to discontinued operations) and $1,069 for the three months ended March 31, 2013 and 2014, respectively. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> At March 31, 2014, there was approximately $11,755 of unrecognized compensation expense related to unvested stock options, which is expected to be recognized over a weighted-average period of 2.98 years. The total fair value of stock options vested during the three months ended March 31, 2013 and 2014 was $1,402 and $953, respectively. </p><br/><p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>2014 Employee Stock Purchase Plan</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company&#8217;s directors adopted, and the stockholders subsequently approved, the 2014 Employee Stock Purchase Plan (&#8220;ESPP&#8221;). The ESPP, which became effective immediately upon the signing of the underwriting agreement related to the IPO on March 27, 2014, authorizes the issuance of 500,000 shares of the Company&#8217;s common stock pursuant to purchase rights granted to employees. The number of shares of common stock reserved for issuance under the ESPP will automatically increase on January 1 of each calendar year from January 1, 2015 through January 1, 2024 by the least of (a) 1% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, (b) 400,000 shares and (c) a number determined by the Board of Directors that is less than (a) and (b). Unless otherwise determined by the Board of Directors, common stock will be purchased for participating employees at a price per share equal to the lower of (a) 85% of the fair market value of a share of the common stock on the first date of an offering, or (b) 85% of the fair market value of a share of the common stock on the date of purchase. For the initial offering period, the fair market value on the first day of the offering period was the $14.00 IPO price. Generally, all regular employees may participate in the ESPP and may contribute, through payroll deductions, up to 15% of their earnings toward the purchase of common stock under the ESPP. Under the terms of the ESPP, there are defined limitations as to the amount and value of common stock that can be purchased by each employee. The ESPP did not materially impact the Company&#8217;s results of operations for the three months ended March 31, 2014. </p><br/> The aggregate number of shares of the Company's common stock that may be issued pursuant to the 2014 Plan is the sum of (1) 200,000 shares, (2) the 388,781 shares reserved for issuance under the 2003 Plan at the time the 2014 Plan became effective, and (3) any shares subject to outstanding stock options that would otherwise have returned to the 2003 Plan (such as upon the expiration or termination of stock options prior to vesting). In addition, the number of shares of common stock reserved for issuance under the 2014 Plan will automatically increase on January 1 of each year from January 1, 2015 through January 1, 2024 by the lesser of (a) 4% of the total number of shares of the Company's common stock outstanding on December 31 of the preceding calendar year and (b) a number of shares determined by the Board of Directors. 593574 910000 12000 7.56 480000 28 11755000 P2Y357D 1402000 953000 500000 The number of shares of common stock reserved for issuance under the ESPP will automatically increase on January 1 of each calendar year from January 1, 2015 through January 1, 2024 by the least of (a) 1% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, (b) 400,000 shares and (c) a number determined by the Board of Directors that is less than (a) and (b). Unless otherwise determined by the Board of Directors, common stock will be purchased for participating employees at a price per share equal to the lower of (a) 85% of the fair market value of a share of the common stock on the first date of an offering, or (b) 85% of the fair market value of a share of the common stock on the date of purchase. 14.00 0.15 The following table summarizes stock option activity for the three months ended March 31, 2014:<br /> <br /><table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold" colspan="2"> <b>Number of</b><br /> <b>options</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold" colspan="2"> <b>Weighted-</b><br /> <b>average</b><br /> <b>exercise</b><br /> <b>price</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold" colspan="2"> <b>Weighted-</b><br /> <b>average</b><br /> <b>remaining</b><br /> <b>contractual</b><br /> <b>life (years)</b> </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold" colspan="2"> <b>Aggregate</b><br /> <b>intrinsic</b><br /> <b>value</b> </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; WIDTH: 40%; FONT-FAMILY: Times New Roman, Times, Serif"> Outstanding at December 31, 2013 </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 5,457,791 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 7.61 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 6.54 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 20,396 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Granted </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1,472,101 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 14.53 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Exercised </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> (113,580 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 4.26 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 20pt; FONT-FAMILY: Times New Roman, Times, Serif"> Cancelled </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> (142,506 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> 8.22 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Outstanding at March 31, 2014 </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 6,673,806 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> 9.14 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> 7.12 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> 33,737 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Exercisable at March 31, 2014 </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 3,965,974 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 7.33 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 5.59 </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 26,396 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> </table> 5457791 7.61 P6Y197D 20396000 1472101 14.53 113580 4.26 -142506 8.22 6673806 9.14 P7Y43D 33737000 3965974 7.33 P5Y215D 26396000 The following table presents the weighted-average assumptions used to estimate the fair value of options granted in the three months ended March 31, 2013 and 2014:<br /> <br /><table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid"> &#160; </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> 2013 </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> 2014 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; WIDTH: 70%; FONT-FAMILY: Times New Roman, Times, Serif"> Volatility </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 50.26 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> % </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> 49.77 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> % </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Expected life (years) </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 6.25 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 6.25 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Risk-free interest rate </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1.32 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> % </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 1.92 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> % </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Dividend yield </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#8212; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#8212; </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> </table> 0.5026 0.4977 P6Y3M P6Y3M 0.0132 0.0192 0 0 <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>8. Net Loss Per Share</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Basic net loss per share is computed by dividing net loss by the weighted-average number of outstanding shares of common stock during the period. Diluted net loss per share is computed using the weighted-average number of outstanding shares of common stock and, when dilutive, potential common shares outstanding during the period. Potential common shares include incremental shares issuable upon the assumed exercise of stock options and warrants using the treasury stock method. For the three months ended March 31, 2013 and 2014, the Company had outstanding options, warrants and preferred stock as disclosed in Notes 5, 6 and 7, which were convertible into or exercisable for common shares that were not included in the calculation of diluted loss per common share because the effect would have been anti-dilutive. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The unaudited pro forma net loss per share attributable to common stockholders for the three months ended March 31, 2014 assumes as of the first day of the quarter then ended (i) the conversion of all outstanding shares of redeemable convertible preferred stock into an aggregate of 18,457,235 shares of common stock, (ii) the issuance of 149,839 shares of common stock upon the automatic net exercise of a warrant, (iii) the issuance and sale of 5,622,686 common shares, including 262,686 from exercises of stock options and warrants by selling stockholders, upon the closing of the IPO, and (iv) the issuance and sale of 316,414 common shares pursuant to the underwriters&#8217; exercise of their over-allotment option. Additionally, the pro forma net loss per share attributable to common stockholders reflects a deemed dividend on Series G redeemable convertible preferred stock of $8,079 resulting from the Series G ratchet provision (refer to Note 6). </p><br/><table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid"> &#160; </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid" colspan="3"> <b>Three months ended March 31,</b><br /> <b>2014</b> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Numerator: </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; WIDTH: 73%; FONT-FAMILY: Times New Roman, Times, Serif"> Historical net loss </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="WIDTH: 12%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> (7,759 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Plus: deemed dividend on Series G Preferred Stock </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> (8,079 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Pro forma numerator for basic and diluted net loss per share attributable to common stockholders </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> (15,838 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> </tr> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Denominator: </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Historical denominator for basic and diluted net loss per share&#8212;weighted average shares </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 5,403,846 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Plus: conversion of redeemable convertible preferred stock to common stock </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 18,457,235 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Plus: automatic net exercise of a warrant </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 149,839 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Plus: shares issued upon initial public offering, including shares exercised by certain selling shareholders </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 5,622,686 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Plus: shares issued pursuant to the underwriters&#8217; exercise of their over-allotment option </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 316,414 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Pro forma denominator for basic and diluted net loss per share attributable to common shareholders </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 29,950,020 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif"> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Pro forma basic and diluted net loss per share attributable to common shareholders </td> <td style="BORDER-BOTTOM: black 2px solid; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 2px solid; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> (0.53 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> </tr> </table><br/> 18457235 149839 5622686 262686 316414 8079000 <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1px; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid"> &#160; </td> <td style="PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid; FONT-WEIGHT: bold"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif; BORDER-TOP: black 2px solid" colspan="3"> <b>Three months ended March 31,</b><br /> <b>2014</b> </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, Serif; FONT-WEIGHT: bold"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Numerator: </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; WIDTH: 73%; FONT-FAMILY: Times New Roman, Times, Serif"> Historical net loss </td> <td style="WIDTH: 3%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="WIDTH: 12%; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="TEXT-ALIGN: right; WIDTH: 10%; FONT-FAMILY: Times New Roman, Times, Serif"> (7,759 </td> <td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Plus: deemed dividend on Series G Preferred Stock </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> (8,079 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Pro forma numerator for basic and diluted net loss per share attributable to common stockholders </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> (15,838 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> </tr> <tr style="FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Denominator: </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Historical denominator for basic and diluted net loss per share&#8212;weighted average shares </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 5,403,846 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Plus: conversion of redeemable convertible preferred stock to common stock </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 18,457,235 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Plus: automatic net exercise of a warrant </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 149,839 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Plus: shares issued upon initial public offering, including shares exercised by certain selling shareholders </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 5,622,686 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Plus: shares issued pursuant to the underwriters&#8217; exercise of their over-allotment option </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 316,414 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: rgb(229,255,255); FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: bottom"> <td style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Pro forma denominator for basic and diluted net loss per share attributable to common shareholders </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif"> 29,950,020 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: white; FONT-FAMILY: Times New Roman, Times, Serif"> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; TEXT-INDENT: -10pt; PADDING-LEFT: 10pt; FONT-FAMILY: Times New Roman, Times, Serif"> Pro forma basic and diluted net loss per share attributable to common shareholders </td> <td style="BORDER-BOTTOM: black 2px solid; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 2px solid; FONT-FAMILY: Times New Roman, Times, Serif"> &#160; </td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> $ </td> <td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right; FONT-FAMILY: Times New Roman, Times, Serif; VERTICAL-ALIGN: top"> (0.53 </td> <td style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman, Times, Serif"> ) </td> </tr> </table> -15838000 18457235 149839 5622686 316414 <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>9. Income Taxes</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company&#8217;s interim and annual tax provision is primarily comprised of a deferred tax provision pertaining to basis differences in indefinite lived intangible assets that cannot be offset by current year deferred tax assets, as well as, to a much lesser extent, a current tax provision for state, local and foreign taxes. Based on seasonality, the Company has historically experienced pretax losses in certain quarters and pretax income in others. Due to the combination of these items, the Company believes that using an annual effective tax rate would result in significant variances in the customary relationship between income tax expense and pretax income or loss in interim periods. As a result, the tax provision in interim periods is based upon the estimated deferred and current tax provision for the year rather than the estimated annual effective tax rate. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> At December 31, 2013, the Company had approximately $108,000 of NOL carryforwards available to offset future taxable income, which expire from 2020 through 2033. The full utilization of these losses in the future is dependent upon the Company&#8217;s ability to generate taxable income and may also be limited due to ownership changes, as defined under the provisions of Section 382 of the Internal Revenue Code of 1986, as amended. The Company&#8217;s NOL carryforwards at December 31, 2013 include $3,317 in income tax deductions related to stock options. The benefit of these losses will be reflected as a credit to additional paid-in capital as realized. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company has provided a valuation allowance against deferred tax assets to the extent the Company has determined that it is more likely than not that such net deferred tax assets will not be realizable. In determining realizability, the Company considered various factors including historical profitability and reversing temporary differences. The Company&#8217;s net deferred tax liabilities arose due primarily to basis differences in indefinite-lived intangible assets that cannot be offset by current year deferred tax assets. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company is subject to taxation in the U.S. and various state, local and foreign jurisdictions. In February 2014, the Company received notification that its U.S. Federal tax return for the year ended December 31, 2011 would be audited. As of March 31, 2014, none of the Company&#8217;s other tax returns have been examined by any income taxing authority. The Company is not subject to U.S. federal, state or non-U.S. income tax examinations by tax authorities for years prior to 2010. However, to the extent U.S. federal and state NOL carryforwards are utilized, the use of NOLs could be subject to examination by the tax authorities. The Company believes that it has appropriate support for the income tax positions taken and to be taken on its tax returns and that its accruals for tax liabilities are adequate for all open years based on assessment of many factors, including past experience and interpretations of tax law. The Company regularly assesses the adequacy of its income tax contingencies in accordance with ASC 740. As a result, the Company may adjust its income tax contingency liabilities for the impact of new facts and developments, such as changes in interpretations of relevant tax law and assessments from taxing authorities. </p><br/> 108000000 3317000 <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>10. Commitments and Contingencies</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company is subject to certain claims that have arisen in the ordinary conduct of business. Based on the advice of counsel and an assessment of the nature and status of any potential claim, and taking into account any accruals the Company may have established for them, the Company currently believes that any liabilities ultimately resulting from such claims will not, individually or in the aggregate, have a material adverse effect on the Company&#8217;s consolidated financial position, results of operations or cash flows. </p><br/> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>11. Subsequent Events</b> </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On April 2, 2014, the Company closed its IPO. The IPO, including the additional shares issued and sold on April 30, 2014 pursuant to the underwriters&#8217; exercise of their over-allotment option, resulted in net proceeds of $72,019, after deducting underwriting discounts and commissions and offering costs borne by the Company totaling approximately $8,325. As a result of the IPO, the Company&#8217;s common stock, redeemable convertible preferred stock, additional paid-in capital, and stock options and warrants to purchase stock changed as follows: i) the Company issued and sold 5,676,414 shares of common stock at a public offering price of $14.00 per share, ii) all of the Company&#8217;s redeemable convertible preferred stock outstanding automatically converted into an aggregate of 18,457,235 shares of common stock, including 577,055 additional shares of common stock related to the Series G redeemable convertible preferred stock ratchet provision (refer to Note 6), iii) certain selling stockholders exercised stock options and warrants for an aggregate of 262,686 shares of common stock, iv) 149,839 shares of common stock were issued upon the automatic net exercise of a warrant, and v) outstanding warrants to purchase 222,977 shares of redeemable convertible preferred stock automatically converted into warrants to purchase an aggregate of 148,650 shares of common stock, which resulted in the reclassification of the preferred stock warrant liability of $1,140 to additional paid-in capital. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On April 2, 2014, in connection with the closing of the Company&#8217;s IPO, the Company filed an amended and restated certificate of incorporation with the Secretary of State of the State of Delaware that amended and restated in its entirety the Company&#8217;s certificate of incorporation to, among other things, increase the total number of shares of the Company&#8217;s common stock that the Company is authorized to issue to 90,000,000, eliminate all references to the various series of preferred stock that were previously authorized (including certain protective measures held by the various series of preferred stock), and to authorize up to 10,000,000 shares of undesignated preferred stock that may be issued, from time to time with terms to be set, by the Company&#8217;s Board of Directors, which rights could be senior to those of the Company&#8217;s common stock. </p><br/><p style="TEXT-INDENT: 36pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On April 7, 2014, the Company paid down the $32,300 outstanding balance on its Revolver. 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Stock-Based Compensation (Details) - Schedule of weighted-average assumptions (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Schedule of weighted-average assumptions [Abstract]    
Volatility 49.77% 50.26%
Expected life (years) 6 years 3 months 6 years 3 months
Risk-free interest rate 1.92% 1.32%
Dividend yield (in Dollars per share) $ 0 $ 0
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Goodwill and Other Intangible Assets (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]      
Goodwill $ 82,153   $ 82,153
Finite-Lived Intangible Assets, Net 9,190   9,735
Amortization of Intangible Assets $ 545 $ 1,015  
XML 12 R37.htm IDEA: XBRL DOCUMENT v2.4.0.8
Subsequent Events (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 0 Months Ended 3 Months Ended 0 Months Ended
Mar. 31, 2014
Apr. 02, 2014
Dec. 31, 2013
Apr. 30, 2014
IPO [Member]
Automatic Net Exercise of a Warrant [Member]
Apr. 30, 2014
IPO [Member]
Ratchet Provision [Member]
Series G Preferred Stock [Member]
Apr. 30, 2014
IPO [Member]
Apr. 02, 2014
IPO [Member]
Mar. 31, 2014
Ratchet Provision [Member]
Mar. 31, 2014
Series G Preferred Stock [Member]
Dec. 31, 2013
Series G Preferred Stock [Member]
Apr. 07, 2014
Revolving Credit Facility [Member]
Subsequent Events (Details) [Line Items]                      
Proceeds from Issuance of Common Stock (in Dollars)           $ 72,019          
Expense Related to Distribution or Servicing and Underwriting Fees (in Dollars)           8,325          
Common Stock, Shares, Issued 5,545,768 5,676,414 5,366,478 149,839   5,676,414          
Shares Issued, Price Per Share (in Dollars per share) $ 14.00         $ 14.00       $ 9.00  
Conversion of Stock, Shares Issued           18,457,235          
Conversion of Stock, Shares Converted 18,457,235       577,055            
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period 113,580 262,686       262,686          
Convertible Preferred Stock, Shares Reserved for Future Issuance           222,977          
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Preferred Stock           148,650   577,055      
Additional Paid in Capital, Preferred Stock (in Dollars)           1,140          
Common Stock, Shares Authorized 45,000,000   45,000,000       90,000,000        
Preferred Stock, Shares Authorized 27,204,144   27,204,144       10,000,000   3,333,333    
Line of Credit Facility, Increase (Decrease), Net (in Dollars)                     32,300
Line of Credit Facility, Current Borrowing Capacity (in Dollars)                     $ 35,000
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Discontinued Operations
3 Months Ended
Mar. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

3. Discontinued Operations


In November 2013, the Company completed the sale of its Doctor Solutions business, which provided online directories and other marketing services to healthcare professionals. The sales price was $1,000. The sale represented a disposal of a component of an entity whose operations and cash flows were eliminated from the Company’s ongoing business after the sale. As such, the operating results have been reported as discontinued operations in the consolidated statements of operations for the three months ended March 31, 2013. As the sale was completed during 2013, there were no results from discontinued operations to report for the three months ended March 31, 2014. Revenues and losses from discontinued operations before tax were $2,202 and $1,745, respectively, for the three months ended March 31, 2013. No benefit for income taxes was provided as the Company recorded a full valuation allowance against the net operating losses (“NOLs”) generated by the discontinued operations.


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Common Stock and Redeemable Convertible Preferred Stock (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended
Mar. 31, 2014
Apr. 02, 2014
Mar. 31, 2014
Effect of 1-for-1.5 stock split [Member]
Series G Preferred Stock [Member]
Mar. 31, 2014
Ratchet Provision [Member]
Mar. 31, 2014
Ratchet Provision Deemed Dividend [Member]
Series G Preferred Stock [Member]
Apr. 02, 2014
Ratchet Provision Deemed Dividend [Member]
Series G Preferred Stock [Member]
Mar. 31, 2014
Series A Preferred Stock [Member]
Dec. 31, 2013
Series A Preferred Stock [Member]
Mar. 31, 2014
Series B Preferred Stock [Member]
Dec. 31, 2013
Series B Preferred Stock [Member]
Mar. 31, 2014
Series C Preferred Stock [Member]
Dec. 31, 2013
Series C Preferred Stock [Member]
Mar. 31, 2014
Series D Preferred Stock [Member]
Dec. 31, 2013
Series D Preferred Stock [Member]
Mar. 31, 2014
Series E Preferred Stock [Member]
Dec. 31, 2013
Series E Preferred Stock [Member]
Mar. 31, 2014
Series F Preferred Stock [Member]
Dec. 31, 2013
Series F Preferred Stock [Member]
Mar. 31, 2014
Series G Preferred Stock [Member]
Dec. 31, 2013
Series G Preferred Stock [Member]
Mar. 31, 2014
Series A, B, C, D, E, F [Member]
Common Stock and Redeemable Convertible Preferred Stock (Details) [Line Items]                                          
Stockholders' Equity, Reverse Stock Split On March 12, 2014, the Company's Board of Directors and stockholders approved an amendment to the Company's amended and restated certificate of incorporation effecting a 1-for-1.5 reverse stock split of the Company's issued and outstanding shares of common stock. The par value of the common stock was not adjusted as a result of the reverse stock split. All issued and outstanding common stock and per share amounts contained in the Company's consolidated financial statements and related notes thereto have been retroactively adjusted to reflect this reverse stock split for all periods presented. The reverse stock split was effected on March 14, 2014.                                        
Shares Issued, Price Per Share $ 14.00             $ 0.50   $ 1.77   $ 3.27   $ 6.87   $ 7.98   $ 7.61   $ 9.00  
Conversion Price IPO Adjustment Threshold                                     $ 11.88    
Temporary Equity, Shares Outstanding (in Shares) 26,820,270           3,450,000   2,547,252   1,833,633   3,934,855   8,930,966   2,951,128   3,172,436   23,647,834
Stock Issued During Period, Shares, Conversion of Convertible Securities (in Shares)                                     2,692,012   15,765,223
Conversion Price IPO Adjustment Increase     $ 17.82                                    
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Preferred Stock (in Shares)       577,055                                  
Dividends (in Dollars)         $ 8,079 $ 8,079                              
Class of Warrant or Right, Outstanding (in Shares) 100,000 222,977                                      
Investment Warrants, Exercise Price $ 0.015                                        
Deferred Tax Liabilities, Deferred Expense, Deferred Financing Costs (in Dollars) $ 1,131                                        
XML 16 R28.htm IDEA: XBRL DOCUMENT v2.4.0.8
Long-Term Debt (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 3 Months Ended 0 Months Ended 3 Months Ended 3 Months Ended
Mar. 31, 2014
Apr. 02, 2014
Dec. 31, 2013
Mar. 31, 2014
Series F Preferred Stock [Member]
Former credit facility [Member]
Mar. 31, 2014
Series C Preferred Stock [Member]
Former credit facility [Member]
Apr. 02, 2014
IPO [Member]
Mar. 31, 2014
Revolving Credit Facility [Member]
Dec. 31, 2013
Revolving Credit Facility [Member]
Mar. 31, 2014
Term Loan Facility [Member]
Dec. 31, 2013
Term Loan Facility [Member]
Mar. 31, 2014
Former credit facility [Member]
Mar. 31, 2014
Minimum [Member]
Mar. 31, 2014
Maximum [Member]
Long-Term Debt (Details) [Line Items]                          
Line of Credit Facility, Maximum Borrowing Capacity             $ 35,000   $ 40,000        
Line of Credit Facility, Interest Rate Description The interest rate on the new credit facility (hereinafter the "Credit Facility") is equal to the London Inter-Bank Offered Rate, or LIBOR, plus a variable rate ranging from 2.75% to 4.0% depending on the Company's consolidated leverage ratio                        
Line of Credit Facility, Interest Rate at Period End 4.23%                     2.75% 4.00%
Line of Credit Facility, Amount Outstanding             32,300   40,000        
Payments of Financing Costs (2,227)           1,211       1,016    
Write off of Deferred Debt Issuance Cost                     2,845    
Line of Credit Facility, Borrowing Capacity, Description Under the former senior credit facility, as amended, with a bank, the Company maintained (i) an accounts receivable-backed revolver, with a maximum borrowing limit equal to the lesser of $30,000 and 80% of eligible accounts receivable, and (ii) an $8,500 term loan.                        
Debtor-in-Possession Financing, Borrowings Outstanding     40,000         30,000   1,333      
Debtor-in-Possession Financing, Interest Rate on Borrowings Outstanding     14.00%         5.25%   6.50%      
Shares upon warrant exercises (in Shares)       112,959 110,018           592,501    
Investment Warrants, Exercise Price (in Dollars per share) $ 0.015     $ 7.61 $ 3.27           $ 0.015    
Convertible Preferred Stock, Shares Issued upon Conversion (in Shares)   18,457,235       222,977              
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Preferred Stock (in Shares)           148,650              
Additional Paid in Capital $ 37,326 $ 1,140 $ 33,726                    
XML 17 R30.htm IDEA: XBRL DOCUMENT v2.4.0.8
Common Stock and Redeemable Convertible Preferred Stock (Details) - Schedule of redeemable convertible preferred stock (USD $)
In Thousands, except Share data, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
Redeemable convertible preferred stock:    
Redeemable convertible preferred stock 27,204,144 27,204,144
Redeemable convertible preferred stock 26,820,270  
Redeemable convertible preferred stock $ 158,766 $ 158,766
Redeemable convertible preferred stock 114,627  
Series A Preferred Stock [Member]
   
Redeemable convertible preferred stock:    
Redeemable convertible preferred stock 3,450,000  
Redeemable convertible preferred stock 3,450,000  
Redeemable convertible preferred stock 1,053  
Redeemable convertible preferred stock 1,725  
Series B Preferred Stock [Member]
   
Redeemable convertible preferred stock:    
Redeemable convertible preferred stock 2,547,252  
Redeemable convertible preferred stock 2,547,252  
Redeemable convertible preferred stock 4,413  
Redeemable convertible preferred stock 4,500  
Series C Preferred Stock [Member]
   
Redeemable convertible preferred stock:    
Redeemable convertible preferred stock 1,943,651  
Redeemable convertible preferred stock 1,833,633  
Redeemable convertible preferred stock 5,882  
Redeemable convertible preferred stock 6,000  
Series D Preferred Stock [Member]
   
Redeemable convertible preferred stock:    
Redeemable convertible preferred stock 3,934,855  
Redeemable convertible preferred stock 3,934,855  
Redeemable convertible preferred stock 25,354  
Redeemable convertible preferred stock 27,027  
Series E Preferred Stock [Member]
   
Redeemable convertible preferred stock:    
Redeemable convertible preferred stock 8,930,966  
Redeemable convertible preferred stock 8,930,966  
Redeemable convertible preferred stock 71,250  
Redeemable convertible preferred stock 15,789  
Series F Preferred Stock [Member]
   
Redeemable convertible preferred stock:    
Redeemable convertible preferred stock 3,064,087  
Redeemable convertible preferred stock 2,951,128  
Redeemable convertible preferred stock 22,468  
Redeemable convertible preferred stock 22,468  
Series G Preferred Stock [Member]
   
Redeemable convertible preferred stock:    
Redeemable convertible preferred stock 3,333,333  
Redeemable convertible preferred stock 3,172,436  
Redeemable convertible preferred stock 28,346  
Redeemable convertible preferred stock $ 37,118  
XML 18 R31.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock-Based Compensation (Details) (USD $)
3 Months Ended 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Dec. 31, 2013
Mar. 31, 2014
2014 Plan [Member]
Mar. 31, 2014
Employee Stock [Member]
Mar. 27, 2014
Employee Stock [Member]
Stock-Based Compensation (Details) [Line Items]            
Common stock, aggregate shares issued, description       The aggregate number of shares of the Company's common stock that may be issued pursuant to the 2014 Plan is the sum of (1) 200,000 shares, (2) the 388,781 shares reserved for issuance under the 2003 Plan at the time the 2014 Plan became effective, and (3) any shares subject to outstanding stock options that would otherwise have returned to the 2003 Plan (such as upon the expiration or termination of stock options prior to vesting).    
Common stock, number of shares reserved for issuance, description       In addition, the number of shares of common stock reserved for issuance under the 2014 Plan will automatically increase on January 1 of each year from January 1, 2015 through January 1, 2024 by the lesser of (a) 4% of the total number of shares of the Company's common stock outstanding on December 31 of the preceding calendar year and (b) a number of shares determined by the Board of Directors. The number of shares of common stock reserved for issuance under the ESPP will automatically increase on January 1 of each calendar year from January 1, 2015 through January 1, 2024 by the least of (a) 1% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, (b) 400,000 shares and (c) a number determined by the Board of Directors that is less than (a) and (b).  
Common Stock, Capital Shares Reserved for Future Issuance (in Shares)       593,574    
Proceeds from Stock Options Exercised $ 1,172,000 $ 3,000        
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value 910,000 12,000        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) $ 7.56          
Allocated Share-based Compensation Expense   480,000        
Other Adjustments to Income, Discontinued Operations   28        
Share-based Compensation 1,069,000 452,000        
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options 11,755,000          
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition 2 years 357 days          
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value $ 953,000 $ 1,402,000        
Common Stock, Shares Authorized (in Shares) 45,000,000   45,000,000     500,000
Common stock, purchase for participating employee price, description         Unless otherwise determined by the Board of Directors, common stock will be purchased for participating employees at a price per share equal to the lower of (a) 85% of the fair market value of a share of the common stock on the first date of an offering, or (b) 85% of the fair market value of a share of the common stock on the date of purchase.  
Common Stock, Par or Stated Value Per Share (in Dollars per share) $ 0.01   $ 0.01   $ 14.00  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures (in Shares)         0.15  
XML 19 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Significant Accounting Policies
3 Months Ended
Mar. 31, 2014
Accounting Policies [Abstract]  
Significant Accounting Policies [Text Block]

2. Significant Accounting Policies


Principles of Consolidation


The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. The results of operations for companies acquired are included in the consolidated financial statements from the effective date of the acquisition. All significant intercompany accounts and transactions have been eliminated in consolidation.


Interim Financial Statements


The accompanying interim unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) on the same basis as the audited consolidated financial statements for the year ended December 31, 2013 and, in the opinion of management, include all adjustments of a normal recurring nature considered necessary to present fairly the Company’s financial position, results of operations and cash flows for the three month periods ended March 31, 2013 and 2014. The results of operations for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014 or any other future periods, due to seasonality and other business factors. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted under the rules and regulations of the Securities and Exchange Commission (“SEC”). These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company’s prospectus dated March 27, 2014, filed with the SEC on March 28, 2014 pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (the “Securities Act”).


Use of Estimates


The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience, current business factors and other available information. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition and deferred revenue, allowance for doubtful accounts, internal software development costs and website development costs, valuation of long-lived assets, goodwill and other intangible assets, income taxes and stock-based compensation.


Reclassifications


Certain reclassifications have been made to the prior period financial statements to conform to the March 31, 2014 presentation.


Initial Public Offering and Pro Forma Presentation


On April 2, 2014, the Company closed its initial public offering of common stock (“IPO”). The IPO, including the additional shares issued and sold on April 30, 2014 pursuant to the underwriters’ exercise of their over-allotment option, resulted in net proceeds of $72,019, after deducting underwriting discounts and commissions and offering costs borne by the Company totaling approximately $8,325. As a result of the IPO, the Company’s common stock, redeemable convertible preferred stock, additional paid-in capital, and stock options and warrants to purchase stock changed as follows (collectively, the “IPO-Related Transactions”): i) the Company issued and sold 5,676,414 shares of common stock at a public offering price of $14.00 per share, ii) all of the Company’s redeemable convertible preferred stock outstanding automatically converted into an aggregate of 18,457,235 shares of common stock, including 577,055 additional shares of common stock related to the Series G redeemable convertible preferred stock ratchet provision (refer to Note 6), iii) certain selling stockholders exercised stock options and warrants for an aggregate of 262,686 shares of common stock, iv) 149,839 shares of common stock were issued upon the automatic net exercise of a warrant, and v) outstanding warrants to purchase 222,977 shares of redeemable convertible preferred stock automatically converted into warrants to purchase an aggregate of 148,650 shares of common stock, which resulted in the reclassification of the preferred stock warrant liability of $1,140 to additional paid-in capital. The unaudited pro forma March 31, 2014 consolidated balance sheet has been adjusted to reflect the above described IPO-Related Transactions.


The unaudited pro forma net loss attributable to common stockholders and unaudited pro forma net loss per share attributable to common stockholders for the three months ended March 31, 2014 has been adjusted to reflect, as of January 1, 2014, the completion of the Company’s IPO and related changes in stockholders’ equity as described above, and a deemed dividend on Series G redeemable convertible preferred stock of $8,079 (refer to Notes 6 and 8).


The Company believes that the unaudited pro forma consolidated balance sheet, unaudited pro forma net loss attributable to common stockholders and unaudited pro forma net loss per share attributable to common stockholders provides material information to investors, as the historical reported amounts as of and for the three months ended March 31, 2014 were significantly impacted by the closing of the IPO in April 2014. Therefore, the disclosure of the unaudited pro forma consolidated balance sheet, unaudited pro forma net loss attributable to common stockholders and unaudited pro forma net loss per share attributable to common stockholders provides measures of equity, net loss and net loss per common share that are comparable to what will be reported by the Company in its consolidated financial statements for the periods subsequent to and including April 2014.


Revenue Recognition and Deferred Revenue


The Company generates its revenue primarily through advertising and sponsorships, and premium services, including subscriptions and licensing fees.


Advertising revenue is recognized in the period in which the advertisement is delivered. Revenue from sponsorships is recognized over the period the Company substantially satisfies its contractual obligations as required under the respective sponsorship agreements. When contractual arrangements contain multiple elements, revenue is allocated to each element based on its relative fair value determined using prices charged when elements are sold separately. In instances where individual deliverables are not sold separately, or when third-party evidence is not available, fair value is determined based on management’s best estimate of selling price.


Subscriptions are generally paid in advance on a monthly, quarterly or annual basis. Subscription revenue, after deducting refunds and charge-backs, is recognized on a straight-line basis ratably over the subscription periods. Licensing revenue is generally recognized over the life of the contract.


Deferred revenue relates to: (i) subscription fees for which amounts have been collected but for which revenue has not been recognized, and (ii) advertising and sponsorship fees and licensing fees billed in advance of when the revenue is to be earned.


Cost of Revenues


Cost of revenues consists principally of the expenses associated with aggregating the total audience across the Company’s portfolio of websites, including (i) royalty expenses for licensing content for certain websites within the portfolio and for the portion of advertising revenue the Company pays to the owners of certain other websites within the portfolio, and (ii) media costs associated with audience aggregation activities. Cost of revenues also includes credit card fees and service charges associated with subscription fees for the Company’s premium services.


Media costs consist primarily of fees paid to online publishers, internet search companies and other media channels for search engine and database marketing, and display and television advertising. These media activities are attributable to revenue-generating and audience aggregation events, designed to increase the audience to the websites the Company operates, increase the number of subscribers to premium services and grow the Company’s registered user base.


Other Expense


During the three months ended March 31, 2014, the Company wrote-off unamortized deferred financing costs totaling $2,845 and incurred prepayment fees of $1,016 in connection with the refinancing of its credit facilities, which, together with the mark-to-market adjustment on certain preferred stock warrants of $253, is reflected as other expense in the accompanying consolidated statements of operations. There were no similar write-offs or charges for the three months ended March 31, 2013.


Comprehensive Income


The Company has no items of other comprehensive income, and accordingly net loss is equal to comprehensive loss for all periods presented.


Fair Value of Financial Instruments


Due to their short-term maturities, the carrying amounts of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, approximate fair value. Cash equivalents principally consist of the Company’s investment in U.S. Treasury securities money market funds. The fair value of these investment funds is based on quoted market prices, which are Level 1 inputs, pursuant to the fair value accounting standard, which establishes a framework for measuring fair value and requires disclosures about fair value measurements by establishing a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value of the Company’s debt approximates the recorded amounts as the interest rates on the credit facilities are based on market interest rates.


Property and Equipment


Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, ranging from three to five years. Amortization of leasehold improvements is computed using the straight-line method over the shorter of the lease term or the estimated useful life of the improvement.


The Company incurs costs to develop software for internal use. The Company expenses all costs that relate to the planning and post-implementation phases of development as product development expense. Costs incurred in the application development phase, consisting principally of payroll and related benefits, are capitalized. Upon completion, the capitalized costs are amortized using the straight-line method over their estimated useful lives, which is generally three years.


The Company also incurs costs to develop its websites and mobile applications. The Company expenses all costs that relate to the planning and post-implementation phases of development as product development expense. Costs incurred in the application development phase, consisting principally of third-party consultants and related charges, and the costs of content determined to provide a future economic benefit, are capitalized. Upon completion, the capitalized costs are amortized using the straight-line method over their estimated useful lives, which is generally three years.


The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. There were no indicators of impairment of the Company’s property and equipment during the three months ended 2013 and 2014.


Segment Information


The Company and its subsidiaries are organized in a single operating segment, providing online health solutions, and the Company also has one reportable segment. Substantially all of the Company’s revenues are derived from U.S. sources.


Recent Accounting Standards


In April 2014, the Financial Accounting Standards Board issued amended guidance for reporting discontinued operations. Under the new guidance, only disposals that represent a strategic shift having a material impact on an entity’s operations and financial results shall be reported as discontinued operations, with expanded disclosures. This will be effective for the first annual reporting period beginning after December 15, 2015, with early adoption permitted. The Company is currently assessing the impact, if any, the guidance with have upon adoption.


XML 20 R32.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock-Based Compensation (Details) - Schedule of stock option activity (USD $)
In Thousands, except Share data, unless otherwise specified
0 Months Ended 3 Months Ended
Dec. 31, 2013
Mar. 31, 2014
Apr. 02, 2014
Schedule of stock option activity [Abstract]      
Outstanding 5,457,791 6,673,806  
Outstanding $ 7.61 $ 9.14  
Outstanding 6 years 197 days 7 years 43 days  
Outstanding $ 20,396 $ 33,737  
Granted   1,472,101  
Granted   $ 14.53  
Exercised   (113,580) (262,686)
Exercised   $ 4.26  
Cancelled   (142,506)  
Cancelled   $ 8.22  
Exercisable at March 31, 2014   3,965,974  
Exercisable at March 31, 2014   $ 7.33  
Exercisable at March 31, 2014   5 years 215 days  
Exercisable at March 31, 2014   $ 26,396  
XML 21 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 14,770 $ 16,242
Accounts receivable, net of allowance for doubtful accounts of $530, $642 and $642 as of December 31, 2013, March 31, 2014 and pro forma March 31, 2014, respectively 38,223 49,373
Deferred tax asset 133 133
Prepaid expenses and other current assets 9,627 7,822
Total current assets 62,753 73,570
Property and equipment, net 21,751 21,095
Goodwill 82,153 82,153
Intangible assets, net 9,190 9,735
Other assets 4,910 5,729
Total assets 180,757 192,282
Current liabilities:    
Accounts payable 6,754 8,459
Accrued expenses 18,094 25,919
Deferred revenue 7,376 6,808
Current portion of long-term debt 1,500 1,333
Other current liabilities 929 830
Total current liabilities 34,653 43,349
Long-term debt 70,800 70,000
Deferred tax liabilities 5,440 5,199
Other long-term liabilities 5,224 4,937
Redeemable convertible preferred stock (Series A-G), net of expenses, $0.01 par value: 27,204,144 shares authorized at December 31, 2013 and March 31, 2014; 26,820,270 shares issued and outstanding at December 31, 2013 and March 31, 2014 (aggregate liquidation value of $114,627 at March 31, 2014); no shares issued and outstanding at March 31, 2014, pro forma 158,766 158,766
Stockholders’ equity (deficit):    
Common stock, $0.01 par value: 45,000,000 shares authorized at December 31, 2013 and March 31, 2014; 5,366,478 and 5,545,768 shares issued and outstanding at December 31, 2013 and March 31, 2014, respectively; 30,091,942 shares issued and outstanding at March 31, 2014, pro forma 56 54
Treasury stock (55) (55)
Additional paid-in capital 37,326 33,726
Accumulated deficit (131,453) (123,694)
Total stockholders’ equity (deficit) (94,126) (89,969)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) 180,757 192,282
Pro Forma [Member]
   
Current assets:    
Cash and cash equivalents 89,551  
Accounts receivable, net of allowance for doubtful accounts of $530, $642 and $642 as of December 31, 2013, March 31, 2014 and pro forma March 31, 2014, respectively 38,223  
Deferred tax asset 133  
Prepaid expenses and other current assets 6,865  
Total current assets 134,772  
Property and equipment, net 21,751  
Goodwill 82,153  
Intangible assets, net 9,190  
Other assets 4,910  
Total assets 252,776  
Current liabilities:    
Accounts payable 6,754  
Accrued expenses 18,094  
Deferred revenue 7,376  
Current portion of long-term debt 1,500  
Other current liabilities 929  
Total current liabilities 34,653  
Long-term debt 70,800  
Deferred tax liabilities 5,440  
Other long-term liabilities 4,084  
Stockholders’ equity (deficit):    
Common stock, $0.01 par value: 45,000,000 shares authorized at December 31, 2013 and March 31, 2014; 5,366,478 and 5,545,768 shares issued and outstanding at December 31, 2013 and March 31, 2014, respectively; 30,091,942 shares issued and outstanding at March 31, 2014, pro forma 301  
Treasury stock (55)  
Additional paid-in capital 277,085  
Accumulated deficit (139,532)  
Total stockholders’ equity (deficit) 137,799  
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) $ 252,776  
XML 22 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities    
Net loss $ (7,759) $ (9,229)
Less loss from discontinued operations, net of tax   (1,745)
Loss from continuing operations (7,759) (7,484)
Adjustments to reconcile loss from continuing operations to net cash provided by operating activities:    
Depreciation and amortization 3,558 3,920
Amortization of video and television costs   264
Provision for doubtful accounts 215 62
Stock-based compensation 1,069 452
Amortization and write-off of financing costs 4,169 421
Provision for deferred income taxes 241 241
Changes in operating assets and liabilities:    
Accounts receivable 10,935 7,682
Prepaid expenses and other current assets (2,645) (420)
Additions to video and television costs   (389)
Accounts payable and accrued expenses (8,610) (2,398)
Deferred revenue 568 1,392
Other current liabilities 32 (352)
Other long-term liabilities 307 127
Net cash provided by operating activities from continuing operations 2,080 3,518
Net cash used in operating activities from discontinued operations   (1,745)
Net cash provided by operating activities 2,080 1,773
Cash flows from investing activities    
Additions to property and equipment, net (3,476) (2,825)
Proceeds from sale of business 152  
Payment for business purchased, net of cash acquired   (2,103)
Payment of security deposits and other assets 5 (782)
Net cash used in investing activities (3,319) (5,710)
Cash flows from financing activities    
Proceeds from the exercise of stock options 1,172 3
Principal payments on capital lease obligations (145) (72)
Payments of credit facility financing costs (2,227)  
Payment for purchase of treasury stock   (55)
Net cash used in financing activities (233) (832)
Net decrease in cash and cash equivalents (1,472) (4,769)
Cash and cash equivalents, beginning of period 16,242 23,888
Cash and cash equivalents, end of period 14,770 19,119
Supplemental disclosure of cash flow information    
Interest paid 2,262 1,670
Income taxes paid 16  
Supplemental disclosure of non-cash investing and financing activities    
Warrants issued in connection with website partner agreement 1,131  
Capital lease obligations incurred 193 64
Equity Issued in Business Combination [Member]
   
Supplemental disclosure of non-cash investing and financing activities    
Issuance of common stock for acquired business 919 907
Acquired Assets [Member]
   
Supplemental disclosure of non-cash investing and financing activities    
Issuance of common stock for acquired assets   74
Revolving Credit Facility [Member]
   
Cash flows from financing activities    
Repayments of principal (30,000)  
Borrowings 32,300  
Payments of credit facility financing costs 1,211  
Term Loan Facility [Member]
   
Cash flows from financing activities    
Repayments of principal (41,333) (708)
Borrowings $ 40,000  
XML 23 R35.htm IDEA: XBRL DOCUMENT v2.4.0.8
Net Loss Per Share (Details) - Schedule of earnings per share (USD $)
3 Months Ended 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Apr. 02, 2014
Mar. 31, 2014
Upon Initial Public Offering [Member]
Mar. 31, 2014
Pursuant to the Underwriters' Exercise of their Over-allotment Option [Member]
Mar. 31, 2014
Ratchet Provision Deemed Dividend [Member]
Series G Preferred Stock [Member]
Apr. 02, 2014
Ratchet Provision Deemed Dividend [Member]
Series G Preferred Stock [Member]
Net Loss Per Share (Details) - Schedule of earnings per share [Line Items]              
Historical net loss $ (7,759,000) $ (9,229,000)          
Plus: deemed dividend on Series G Preferred Stock           (8,079,000) (8,079,000)
Pro forma numerator for basic and diluted net loss per share attributable to common stockholders (15,838,000)            
Historical denominator for basic and diluted net loss per share—weighted average shares (in Shares) 5,403,846 4,925,306          
Plus: conversion of redeemable convertible preferred stock to common stock (in Shares) 18,457,235            
Plus: automatic net exercise of a warrant (in Shares) 149,839   148,650        
Plus: shares issued       5,622,686 316,414    
Pro forma denominator for basic and diluted net loss per share attributable to common shareholders 29,950,020            
Pro forma basic and diluted net loss per share attributable to common shareholders $ (0.53)            
XML 24 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
Net Loss Per Share (Tables)
3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
    Three months ended March 31,
2014
 
Numerator:          
Historical net loss     $ (7,759 )
Plus: deemed dividend on Series G Preferred Stock       (8,079 )
Pro forma numerator for basic and diluted net loss per share attributable to common stockholders     $ (15,838 )
           
Denominator:          
Historical denominator for basic and diluted net loss per share—weighted average shares       5,403,846  
Plus: conversion of redeemable convertible preferred stock to common stock       18,457,235  
Plus: automatic net exercise of a warrant       149,839  
Plus: shares issued upon initial public offering, including shares exercised by certain selling shareholders       5,622,686  
Plus: shares issued pursuant to the underwriters’ exercise of their over-allotment option       316,414  
Pro forma denominator for basic and diluted net loss per share attributable to common shareholders       29,950,020  
Pro forma basic and diluted net loss per share attributable to common shareholders     $ (0.53 )
XML 25 R36.htm IDEA: XBRL DOCUMENT v2.4.0.8
Income Taxes (Details) (USD $)
In Thousands, unless otherwise specified
0 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Unrecognized Tax Benefits Resulting in Net Operating Loss Carryforward $ 108,000
Effective Income Tax Rate Reconciliation, Deduction, Amount $ 3,317
XML 26 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
Discontinued Operations (Details) (USD $)
In Thousands, unless otherwise specified
1 Months Ended 3 Months Ended
Nov. 30, 2013
Mar. 31, 2014
Revenues [Member]
Mar. 31, 2014
Losses [Member]
Discontinued Operations (Details) [Line Items]      
Proceeds from Sales of Business, Affiliate and Productive Assets $ 1,000    
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax   $ 2,202 $ (1,745)
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Business
3 Months Ended
Mar. 31, 2014
Disclosure Text Block [Abstract]  
Business Description and Basis of Presentation [Text Block]

1. Business


Everyday Health, Inc. (the “Company”) operates a portfolio of health and wellness websites and mobile applications that provides consumers, healthcare professionals, advertisers and partners with content and advertising-based services. The Company was incorporated in the State of Delaware in January 2002 as Agora Media Inc., and changed its name to Waterfront Media Inc. in January 2004. In January 2010, the Company changed its name to Everyday Health, Inc. to better align its corporate identity with the Everyday Health brand.


XML 29 R3.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Balance Sheets (Parentheticals) (USD $)
In Thousands, except Share data, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
Allowance for doubtful accounts (in Dollars) $ 642 $ 530
Preferred stock, par value (in Dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized 27,204,144 27,204,144
Preferred stock, shares issued 26,820,270 26,820,270
Preferred stock, shares outstanding 26,820,270 26,820,270
Preferred stock, aggregate liquidation value (in Dollars) 114,627  
Common stock, par value (in Dollars per share) $ 0.01 $ 0.01
Common stock, shares issued 5,545,768 5,366,478
Common stock, shares outstanding 5,545,768 5,366,478
Common stock, shares authorized 45,000,000 45,000,000
Pro Forma [Member]
   
Allowance for doubtful accounts (in Dollars) $ 642  
Preferred stock, par value (in Dollars per share) $ 0.01  
Preferred stock, shares issued 0  
Preferred stock, shares outstanding 0  
Common stock, par value (in Dollars per share) $ 0.01  
Common stock, shares issued 30,091,942  
Common stock, shares outstanding 30,091,942  
XML 30 R17.htm IDEA: XBRL DOCUMENT v2.4.0.8
Subsequent Events
3 Months Ended
Mar. 31, 2014
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

11. Subsequent Events


On April 2, 2014, the Company closed its IPO. The IPO, including the additional shares issued and sold on April 30, 2014 pursuant to the underwriters’ exercise of their over-allotment option, resulted in net proceeds of $72,019, after deducting underwriting discounts and commissions and offering costs borne by the Company totaling approximately $8,325. As a result of the IPO, the Company’s common stock, redeemable convertible preferred stock, additional paid-in capital, and stock options and warrants to purchase stock changed as follows: i) the Company issued and sold 5,676,414 shares of common stock at a public offering price of $14.00 per share, ii) all of the Company’s redeemable convertible preferred stock outstanding automatically converted into an aggregate of 18,457,235 shares of common stock, including 577,055 additional shares of common stock related to the Series G redeemable convertible preferred stock ratchet provision (refer to Note 6), iii) certain selling stockholders exercised stock options and warrants for an aggregate of 262,686 shares of common stock, iv) 149,839 shares of common stock were issued upon the automatic net exercise of a warrant, and v) outstanding warrants to purchase 222,977 shares of redeemable convertible preferred stock automatically converted into warrants to purchase an aggregate of 148,650 shares of common stock, which resulted in the reclassification of the preferred stock warrant liability of $1,140 to additional paid-in capital.


On April 2, 2014, in connection with the closing of the Company’s IPO, the Company filed an amended and restated certificate of incorporation with the Secretary of State of the State of Delaware that amended and restated in its entirety the Company’s certificate of incorporation to, among other things, increase the total number of shares of the Company’s common stock that the Company is authorized to issue to 90,000,000, eliminate all references to the various series of preferred stock that were previously authorized (including certain protective measures held by the various series of preferred stock), and to authorize up to 10,000,000 shares of undesignated preferred stock that may be issued, from time to time with terms to be set, by the Company’s Board of Directors, which rights could be senior to those of the Company’s common stock.


On April 7, 2014, the Company paid down the $32,300 outstanding balance on its Revolver. As of the date of this filing, the full $35,000 line under the Revolver was available to be drawn (see Note 5).


XML 31 R1.htm IDEA: XBRL DOCUMENT v2.4.0.8
Document And Entity Information
3 Months Ended
Mar. 31, 2014
May 09, 2014
Document and Entity Information [Abstract]    
Entity Registrant Name Everyday Health, Inc.  
Document Type 10-Q  
Current Fiscal Year End Date --12-31  
Entity Common Stock, Shares Outstanding   30,091,942
Amendment Flag false  
Entity Central Index Key 0001358483  
Entity Current Reporting Status Yes  
Entity Voluntary Filers No  
Entity Filer Category Non-accelerated Filer  
Entity Well-known Seasoned Issuer No  
Document Period End Date Mar. 31, 2014  
Document Fiscal Year Focus 2014  
Document Fiscal Period Focus Q1  
XML 32 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
Accounting Policies, by Policy (Policies)
3 Months Ended
Mar. 31, 2014
Accounting Policies [Abstract]  
Consolidation, Policy [Policy Text Block]

Principles of Consolidation


The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. The results of operations for companies acquired are included in the consolidated financial statements from the effective date of the acquisition. All significant intercompany accounts and transactions have been eliminated in consolidation

Interim Financial Statement [Policy Text Block]

Interim Financial Statements


The accompanying interim unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) on the same basis as the audited consolidated financial statements for the year ended December 31, 2013 and, in the opinion of management, include all adjustments of a normal recurring nature considered necessary to present fairly the Company’s financial position, results of operations and cash flows for the three month periods ended March 31, 2013 and 2014. The results of operations for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014 or any other future periods, due to seasonality and other business factors. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted under the rules and regulations of the Securities and Exchange Commission (“SEC”). These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company’s prospectus dated March 27, 2014, filed with the SEC on March 28, 2014 pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (the “Securities Act”).

Use of Estimates, Policy [Policy Text Block]

Use of Estimates


The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience, current business factors and other available information. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition and deferred revenue, allowance for doubtful accounts, internal software development costs and website development costs, valuation of long-lived assets, goodwill and other intangible assets, income taxes and stock-based compensation.

Reclassification, Policy [Policy Text Block]

Reclassifications


Certain reclassifications have been made to the prior period financial statements to conform to the March 31, 2014 presentation.

Sale of Stock, Description of Transaction Initial Public Offering and Pro Forma PresentationOn April 2, 2014, the Company closed its initial public offering of common stock ("IPO"). The IPO, including the additional shares issued and sold on April 30, 2014 pursuant to the underwriters' exercise of their over-allotment option, resulted in net proceeds of $72,019, after deducting underwriting discounts and commissions and offering costs borne by the Company totaling approximately $8,325. As a result of the IPO, the Company's common stock, redeemable convertible preferred stock, additional paid-in capital, and stock options and warrants to purchase stock changed as follows (collectively, the "IPO-Related Transactions"): i) the Company issued and sold 5,676,414 shares of common stock at a public offering price of $14.00 per share, ii) all of the Company's redeemable convertible preferred stock outstanding automatically converted into an aggregate of 18,457,235 shares of common stock, including 577,055 additional shares of common stock related to the Series G redeemable convertible preferred stock ratchet provision (refer to Note 6), iii) certain selling stockholders exercised stock options and warrants for an aggregate of 262,686 shares of common stock, iv) 149,839 shares of common stock were issued upon the automatic net exercise of a warrant, and v) outstanding warrants to purchase 222,977 shares of redeemable convertible preferred stock automatically converted into warrants to purchase an aggregate of 148,650 shares of common stock, which resulted in the reclassification of the preferred stock warrant liability of $1,140 to additional paid-in capital. The unaudited pro forma March 31, 2014 consolidated balance sheet has been adjusted to reflect the above described IPO-Related Transactions.The unaudited pro forma net loss attributable to common stockholders and unaudited pro forma net loss per share attributable to common stockholders for the three months ended March 31, 2014 has been adjusted to reflect, as of January 1, 2014, the completion of the Company's IPO and related changes in stockholders' equity as described above, and a deemed dividend on Series G redeemable convertible preferred stock of $8,079 (refer to Notes 6 and 8).The Company believes that the unaudited pro forma consolidated balance sheet, unaudited pro forma net loss attributable to common stockholders and unaudited pro forma net loss per share attributable to common stockholders provides material information to investors, as the historical reported amounts as of and for the three months ended March 31, 2014 were significantly impacted by the closing of the IPO in April 2014. Therefore, the disclosure of the unaudited pro forma consolidated balance sheet, unaudited pro forma net loss attributable to common stockholders and unaudited pro forma net loss per share attributable to common stockholders provides measures of equity, net loss and net loss per common share that are comparable to what will be reported by the Company in its consolidated financial statements for the periods subsequent to and including April 2014.
Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition and Deferred Revenue


The Company generates its revenue primarily through advertising and sponsorships, and premium services, including subscriptions and licensing fees.


Advertising revenue is recognized in the period in which the advertisement is delivered. Revenue from sponsorships is recognized over the period the Company substantially satisfies its contractual obligations as required under the respective sponsorship agreements. When contractual arrangements contain multiple elements, revenue is allocated to each element based on its relative fair value determined using prices charged when elements are sold separately. In instances where individual deliverables are not sold separately, or when third-party evidence is not available, fair value is determined based on management’s best estimate of selling price.


Subscriptions are generally paid in advance on a monthly, quarterly or annual basis. Subscription revenue, after deducting refunds and charge-backs, is recognized on a straight-line basis ratably over the subscription periods. Licensing revenue is generally recognized over the life of the contract.


Deferred revenue relates to: (i) subscription fees for which amounts have been collected but for which revenue has not been recognized, and (ii) advertising and sponsorship fees and licensing fees billed in advance of when the revenue is to be earned.

Cost of Sales, Policy [Policy Text Block]

Cost of Revenues


Cost of revenues consists principally of the expenses associated with aggregating the total audience across the Company’s portfolio of websites, including (i) royalty expenses for licensing content for certain websites within the portfolio and for the portion of advertising revenue the Company pays to the owners of certain other websites within the portfolio, and (ii) media costs associated with audience aggregation activities. Cost of revenues also includes credit card fees and service charges associated with subscription fees for the Company’s premium services.


Media costs consist primarily of fees paid to online publishers, internet search companies and other media channels for search engine and database marketing, and display and television advertising. These media activities are attributable to revenue-generating and audience aggregation events, designed to increase the audience to the websites the Company operates, increase the number of subscribers to premium services and grow the Company’s registered user base.

Other Income and Other Expense Disclosure [Text Block]

Other Expense


During the three months ended March 31, 2014, the Company wrote-off unamortized deferred financing costs totaling $2,845 and incurred prepayment fees of $1,016 in connection with the refinancing of its credit facilities, which, together with the mark-to-market adjustment on certain preferred stock warrants of $253, is reflected as other expense in the accompanying consolidated statements of operations. There were no similar write-offs or charges for the three months ended March 31, 2013.

Comprehensive Income, Policy [Policy Text Block]

Comprehensive Income


The Company has no items of other comprehensive income, and accordingly net loss is equal to comprehensive loss for all periods presented.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments


Due to their short-term maturities, the carrying amounts of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, approximate fair value. Cash equivalents principally consist of the Company’s investment in U.S. Treasury securities money market funds. The fair value of these investment funds is based on quoted market prices, which are Level 1 inputs, pursuant to the fair value accounting standard, which establishes a framework for measuring fair value and requires disclosures about fair value measurements by establishing a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The fair value of the Company’s debt approximates the recorded amounts as the interest rates on the credit facilities are based on market interest rates.

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment


Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, ranging from three to five years. Amortization of leasehold improvements is computed using the straight-line method over the shorter of the lease term or the estimated useful life of the improvement.


The Company incurs costs to develop software for internal use. The Company expenses all costs that relate to the planning and post-implementation phases of development as product development expense. Costs incurred in the application development phase, consisting principally of payroll and related benefits, are capitalized. Upon completion, the capitalized costs are amortized using the straight-line method over their estimated useful lives, which is generally three years.


The Company also incurs costs to develop its websites and mobile applications. The Company expenses all costs that relate to the planning and post-implementation phases of development as product development expense. Costs incurred in the application development phase, consisting principally of third-party consultants and related charges, and the costs of content determined to provide a future economic benefit, are capitalized. Upon completion, the capitalized costs are amortized using the straight-line method over their estimated useful lives, which is generally three years.


The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. There were no indicators of impairment of the Company’s property and equipment during the three months ended 2013 and 2014.

Segment Reporting, Policy [Policy Text Block]

Segment Information


The Company and its subsidiaries are organized in a single operating segment, providing online health solutions, and the Company also has one reportable segment. Substantially all of the Company’s revenues are derived from U.S. sources.

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Standards


In April 2014, the Financial Accounting Standards Board issued amended guidance for reporting discontinued operations. Under the new guidance, only disposals that represent a strategic shift having a material impact on an entity’s operations and financial results shall be reported as discontinued operations, with expanded disclosures. This will be effective for the first annual reporting period beginning after December 15, 2015, with early adoption permitted. The Company is currently assessing the impact, if any, the guidance with have upon adoption

XML 33 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Revenues:    
Advertising and sponsorship revenues $ 32,692,000 $ 25,380,000
Premium services revenues 4,813,000 5,124,000
Total revenues 37,505,000 30,504,000
Operating expenses:    
Cost of revenues 11,421,000 9,835,000
Sales and marketing 10,970,000 9,061,000
Product development 10,196,000 10,344,000
General and administrative 6,411,000 6,355,000
Total operating expenses 38,998,000 35,595,000
Loss from operations (1,493,000) (5,091,000)
Interest expense, net (1,863,000) (2,129,000)
Other expense (4,114,000)  
Loss from continuing operations before provision for income taxes (7,470,000) (7,220,000)
Provision for income taxes (289,000) (264,000)
Loss from continuing operations (7,759,000) (7,484,000)
Loss from discontinued operations, net of tax   (1,745,000)
Net loss (7,759,000) (9,229,000)
Net loss from continuing operations per common share—basic and diluted (in Dollars per share) $ (1.44) $ (1.52)
Net loss from discontinued operations per common share—basic and diluted (in Dollars per share)   $ (0.35)
Net loss per common share—basic and diluted (in Dollars per share) $ (1.44) $ (1.87)
Weighted-average common shares outstanding—basic and diluted (in Shares) 5,403,846 4,925,306
Pro forma net loss per share attributable to common stockholders—basic and diluted (0.53)  
Pro forma weighted-average common shares outstanding—basic and diluted $ 29,950,020  
XML 34 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Common Stock and Redeemable Convertible Preferred Stock
3 Months Ended
Mar. 31, 2014
Share-based Arrangements with Employees and Nonemployees [Abstract]  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

6. Common Stock and Redeemable Convertible Preferred Stock


On March 12, 2014, the Company’s Board of Directors and stockholders approved an amendment to the Company’s amended and restated certificate of incorporation effecting a 1-for-1.5 reverse stock split of the Company’s issued and outstanding shares of common stock. The par value of the common stock was not adjusted as a result of the reverse stock split. All issued and outstanding common stock and per share amounts contained in the Company’s consolidated financial statements and related notes thereto have been retroactively adjusted to reflect this reverse stock split for all periods presented. The reverse stock split was effected on March 14, 2014.


The number of shares of the Company’s redeemable convertible preferred stock was not adjusted in connection with the 1-for-1.5 reverse stock split of common stock referred to above. The Company’s redeemable convertible preferred stock consisted of the following at each of December 31, 2013 and March 31, 2014:


    Shares   Stated value,        
    Authorized     Issued and
outstanding
    net of
expenses
    Liquidation
preference
 
Redeemable convertible preferred stock:                                
Series A     3,450,000       3,450,000     $ 1,053     $ 1,725  
Series B     2,547,252       2,547,252       4,413       4,500  
Series C     1,943,651       1,833,633       5,882       6,000  
Series D     3,934,855       3,934,855       25,354       27,027  
Series E     8,930,966       8,930,966       71,250       15,789  
Series F     3,064,087       2,951,128       22,468       22,468  
Series G     3,333,333       3,172,436       28,346       37,118  
Total     27,204,144       26,820,270     $ 158,766     $ 114,627  

Conversion of the Redeemable Convertible Preferred Stock


Each share of redeemable convertible preferred stock was convertible at the option of the holder, at any time, into such number of fully paid shares of the Company’s common stock equal to the applicable original issue price for such share of redeemable convertible preferred stock divided by the applicable conversion price for such share of redeemable convertible preferred stock then in effect. As of December 31, 2013, the original issue prices and the conversion prices for each series of redeemable convertible preferred stock were as follows: $0.50 for Series A, $1.77 for Series B, $3.27 for Series C, $6.87 for Series D, $7.98 for Series E, $7.61 for Series F and $9.00 for Series G. The conversion prices for each series of redeemable convertible preferred stock were subject to adjustment upon the occurrence of certain specified events, including stock dividends, stock splits, combinations or other similar recapitalizations, and issuance of capital stock at a price below the conversion price in effect for such series of redeemable convertible preferred stock. The conversion price for the Series G convertible preferred stock was also subject to further adjustment in the event of an IPO with a public offering price of less than $11.88 per share.


In connection with the March 14, 2014 1-for-1.5 reverse stock split, the conversion prices for each series of redeemable convertible preferred stock were subject to a 1-for-1.5 adjustment. As a result, upon the closing of the IPO, the 23,647,834 outstanding shares of Series A, Series B, Series C, Series D, Series E and Series F redeemable convertible preferred stock converted into a total of 15,765,223 shares of common stock. Based on this 1-for-1.5 adjustment, the conversion price for the IPO adjustment specific to the Series G shares increased from $11.88 per share to $17.82 per share. Based on the public offering price of $14.00 per share, the 3,172,436 outstanding shares of Series G convertible preferred stock converted into a total of 2,692,012 shares of common stock, including an additional 577,055 shares of common stock issued as a result of the specific Series G IPO adjustment feature or “ratchet provision.” The ratchet provision, which is treated as a deemed stock dividend for accounting purposes, was calculated as the difference between the number of shares of common stock each holder of Series G would receive upon the automatic conversion of the Series G shares and the number of shares contingently issuable just prior to the automatic conversion based on the initial conversion price multiplied by the IPO price of $14.00 per share, which represents the fair value of the common stock on the date of conversion. On April 2, 2014, the Company recorded a one-time $8,079 non-cash preferred stock deemed dividend related to the issuance of additional common shares resulting from the ratchet provision. Such non-cash preferred stock deemed dividend results in an increase to net loss to arrive at net loss attributable to common stockholders and, consequently, results in an adjustment to the Company’s computation of net loss per share attributable to common stockholders (refer to Note 8).


Issuance of Common Stock Warrant


During the three months ended March 31, 2014, the Company issued to one of its website partners a warrant to purchase 100,000 shares of common stock at $0.015 per share, in connection with the website partner agreeing to extend the advertising representation agreement by two years. The warrant was immediately exercisable and, accordingly, the Company calculated the fair value of the warrant using the Black-Scholes option pricing model and recorded $1,131 of deferred financing costs related to the issuance, which will be amortized to the Company’s operating results over the remaining life of the agreement.


XML 35 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Long-Term Debt
3 Months Ended
Mar. 31, 2014
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]

5. Long-Term Debt


On March 6, 2014, the Company completed a refinancing of its credit facilities. Under the terms of the new credit facility agreement with a syndicated bank group, the Company maintains a revolver (“Revolver”) with a maximum borrowing limit of $35,000 and a term loan (“Term Loan”) of $40,000. The repayment terms of the Revolver provide for quarterly interest payments, with the principal being due in full in March 2019. The repayment terms of the Term Loan provide for quarterly interest and principal payments, with a maturity date of March 2019. The interest rate on the new credit facility (hereinafter the “Credit Facility”) is equal to the London Inter-Bank Offered Rate, or LIBOR, plus a variable rate ranging from 2.75% to 4.0% depending on the Company’s consolidated leverage ratio, as defined in the Credit Facility agreement. As of March 31, 2014, the interest rate on the Credit Facility was 4.23%. The Company drew the full $40,000 Term Loan and $32,300 on the Revolver at closing, and such amounts were outstanding as of March 31, 2014. See Note 11 for discussion of the Revolver pay-down in April 2014.


During the three months ended March 31, 2014, the Company incurred financing costs on the Credit Facility of $1,211, which have been deferred and are being amortized using the effective interest rate method through the final maturity of the Credit Facility, and incurred prepayment fees of $1,016 on the former credit facilities, which was charged to expense. Deferred financing costs are recorded in other assets in the accompanying consolidated balance sheets. In connection with the refinancing, during the three months ended March 31, 2014, the Company wrote-off unamortized deferred financing costs of $2,845 related to the former credit facilities.


The Credit Facility contains certain financial and operational covenants, including requirements to maintain a minimum consolidated fixed charge coverage ratio and a maximum consolidated leverage ratio, each as defined in the Credit Facility agreement, as well as restrictions on certain types of dispositions, mergers and acquisitions, indebtedness, investments, liens and capital expenditures, issuance of capital stock and the Company’s ability to pay dividends. The Credit Facility is secured by a first priority security interest in substantially all of the Company’s existing and future assets. The Company was in compliance with the financial and operational covenants of the Credit Facility as of March 31, 2014.


In connection with the refinancing discussed above, the Company repaid all outstanding borrowings under its former credit facilities, and such credit facilities were terminated.


Under the former senior credit facility, as amended, with a bank, the Company maintained (i) an accounts receivable-backed revolver, with a maximum borrowing limit equal to the lesser of $30,000 and 80% of eligible accounts receivable, and (ii) an $8,500 term loan. As of December 31, 2013, outstanding borrowings under the former revolver and former term loan amounted to $30,000 and $1,333, respectively, and as of such date, the interest rates on the former revolver and former term loan were 5.25% and 6.50%, respectively. The principal under the former revolver was due in full in September 2015. The maturity date of the former term loan was December 2014.


Under the Company’s former subordinated credit facility, as amended, the Company maintained a $40,000 term loan. As of December 31, 2013, outstanding borrowings under the former subordinated credit facility amounted to $40,000 and the interest rate on such facility was 14.0%. The maturity date of the former subordinated credit facility was October 2015 with respect to $35,000 and November 2016 with respect to $5,000.


The former senior credit facility and former subordinated credit facility contained certain financial and operational covenants, including restrictions on certain types of dispositions, mergers and acquisitions, indebtedness, investments, liens and capital expenditures, issuance of capital stock and the ability of the Company to pay dividends and make other distributions. The Company was in compliance with the financial and operational covenants of the former credit facility and former subordinated credit facility as of December 31, 2013.


In connection with the former senior credit facility and former subordinated credit facility, as well as other former credit facilities that were in place previously, the Company issued to the lenders warrants to purchase a total of: i) 592,501 shares of common stock at $0.015 per share, ii) 112,959 shares of Series F redeemable convertible preferred stock at $7.61 per share, and (iii) 110,018 shares of Series C redeemable convertible preferred stock at $3.27 per share. Each of the above warrants were immediately exercisable and, accordingly, the Company calculated the fair value of the warrants using the Black-Scholes option pricing model and recorded deferred financing costs related to the issuances of the warrants in the respective periods.


On April 2, 2014, in connection with the closing of the Company’s IPO, the above warrants to purchase 222,977 shares of preferred stock were converted into warrants to purchase an aggregate of 148,650 shares of common stock. This conversion resulted in the warrant liability of $1,140 being reclassified to additional paid-in capital as of April 2, 2014.


XML 36 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
Significant Accounting Policies (Details) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Apr. 02, 2014
Dec. 31, 2013
Significant Accounting Policies (Details) [Line Items]      
Proceeds from Issuance Initial Public Offering   $ 72,019  
Payments for Underwriting Expense   8,325  
Common Stock, Shares, Issued 5,545,768 5,676,414 5,366,478
Common Stock, No Par Value   $ 14.00  
Convertible Preferred Stock, Shares Issued upon Conversion   18,457,235  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period 113,580 262,686  
Temporary Equity, Shares Issued   149,839  
Class of Warrant or Right, Outstanding 100,000 222,977  
Class of Warrant or Right, Number of Securities Called by Warrants or Rights 149,839 148,650  
Adjustment of Warrants Granted for Services   1,140  
Debtor Reorganization Items, Write-off of Deferred Financing Costs and Debt Discounts   2,845  
Banking Fees and Commissions   1,016  
Capital Units, Adjustment for Market Changes   253  
Number of Reportable Segments 1    
Ratchet Provision Deemed Dividend [Member] | Series G Preferred Stock [Member]
     
Significant Accounting Policies (Details) [Line Items]      
Dividends $ 8,079 $ 8,079  
Series G Preferred Stock [Member]
     
Significant Accounting Policies (Details) [Line Items]      
Convertible Preferred Stock, Shares Issued upon Conversion   577,055  
Minimum [Member]
     
Significant Accounting Policies (Details) [Line Items]      
Property, Plant and Equipment, Estimated Useful Lives three    
Maximum [Member]
     
Significant Accounting Policies (Details) [Line Items]      
Property, Plant and Equipment, Estimated Useful Lives five    
Software and Software Development Costs [Member]
     
Significant Accounting Policies (Details) [Line Items]      
Property, Plant and Equipment, Estimated Useful Lives three    
Website And Mobile Applications [Member]
     
Significant Accounting Policies (Details) [Line Items]      
Property, Plant and Equipment, Estimated Useful Lives three    
XML 37 R19.htm IDEA: XBRL DOCUMENT v2.4.0.8
Goodwill and Other Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block] Definite-lived intangible assets consist of the following:

    December 31, 2013     March 31, 2014  
    Gross
carrying
amount
    Accumulated
amortization
    Net
carrying
amount
    Weighted-
average
remaining
useful
life(1)
    Gross
carrying
amount
    Accumulated
amortization
    Net carrying amount     Weighted-
average
remaining
useful
life(1)
 
Customer relationships   $ 11,910     $ (10,481 )   $ 1,429       2.9     $ 11,910     $ (10,624 )   $ 1,286       2.7  
Other intangibles     3,900       (2,925 )     975       1.7       3,900       (3,064 )     836       1.5  
Trade names     10,505       (3,174 )     7,331       7.0       10,505       (3,437 )     7,068       6.7  
Total   $ 26,315     $ (16,580 )   $ 9,735             $ 26,315     $ (17,125 )   $ 9,190          
(1) The calculation of the weighted-average remaining useful life is based on weighting the net book value of each asset in its group, and applying the weight to its respective remaining amortization period.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] Future amortization expense of the intangible assets is estimated to be as follows:

Year ending December 31:      
2014 (April 1st to December 31st)   $ 1,636  
2015     1,938  
2016     1,248  
2017     1,239  
2018     1,051  
Thereafter     2,078  
Total   $ 9,190  
XML 38 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Income Taxes
3 Months Ended
Mar. 31, 2014
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

9. Income Taxes


The Company’s interim and annual tax provision is primarily comprised of a deferred tax provision pertaining to basis differences in indefinite lived intangible assets that cannot be offset by current year deferred tax assets, as well as, to a much lesser extent, a current tax provision for state, local and foreign taxes. Based on seasonality, the Company has historically experienced pretax losses in certain quarters and pretax income in others. Due to the combination of these items, the Company believes that using an annual effective tax rate would result in significant variances in the customary relationship between income tax expense and pretax income or loss in interim periods. As a result, the tax provision in interim periods is based upon the estimated deferred and current tax provision for the year rather than the estimated annual effective tax rate.


At December 31, 2013, the Company had approximately $108,000 of NOL carryforwards available to offset future taxable income, which expire from 2020 through 2033. The full utilization of these losses in the future is dependent upon the Company’s ability to generate taxable income and may also be limited due to ownership changes, as defined under the provisions of Section 382 of the Internal Revenue Code of 1986, as amended. The Company’s NOL carryforwards at December 31, 2013 include $3,317 in income tax deductions related to stock options. The benefit of these losses will be reflected as a credit to additional paid-in capital as realized.


The Company has provided a valuation allowance against deferred tax assets to the extent the Company has determined that it is more likely than not that such net deferred tax assets will not be realizable. In determining realizability, the Company considered various factors including historical profitability and reversing temporary differences. The Company’s net deferred tax liabilities arose due primarily to basis differences in indefinite-lived intangible assets that cannot be offset by current year deferred tax assets.


The Company is subject to taxation in the U.S. and various state, local and foreign jurisdictions. In February 2014, the Company received notification that its U.S. Federal tax return for the year ended December 31, 2011 would be audited. As of March 31, 2014, none of the Company’s other tax returns have been examined by any income taxing authority. The Company is not subject to U.S. federal, state or non-U.S. income tax examinations by tax authorities for years prior to 2010. However, to the extent U.S. federal and state NOL carryforwards are utilized, the use of NOLs could be subject to examination by the tax authorities. The Company believes that it has appropriate support for the income tax positions taken and to be taken on its tax returns and that its accruals for tax liabilities are adequate for all open years based on assessment of many factors, including past experience and interpretations of tax law. The Company regularly assesses the adequacy of its income tax contingencies in accordance with ASC 740. As a result, the Company may adjust its income tax contingency liabilities for the impact of new facts and developments, such as changes in interpretations of relevant tax law and assessments from taxing authorities.


XML 39 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock-Based Compensation
3 Months Ended
Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

7. Stock-Based Compensation


Stock Options


The Company has historically granted non-statutory stock options to employees, directors and consultants of the Company pursuant to its 2003 Stock Option Plan, as amended (the “2003 Plan”). The Board of Directors and the Company’s stockholders subsequently approved the 2014 Equity Incentive Plan (the “2014 Plan”), which became effective immediately upon the signing of the underwriting agreement related to the IPO on March 27, 2014. Upon the effectiveness of the 2014 Plan, no additional options have been or will be granted under the 2003 Plan.


The aggregate number of shares of the Company’s common stock that may be issued pursuant to the 2014 Plan is the sum of (1) 200,000 shares, (2) the 388,781 shares reserved for issuance under the 2003 Plan at the time the 2014 Plan became effective, and (3) any shares subject to outstanding stock options that would otherwise have returned to the 2003 Plan (such as upon the expiration or termination of stock options prior to vesting). In addition, the number of shares of common stock reserved for issuance under the 2014 Plan will automatically increase on January 1 of each year from January 1, 2015 through January 1, 2024 by the lesser of (a) 4% of the total number of shares of the Company’s common stock outstanding on December 31 of the preceding calendar year and (b) a number of shares determined by the Board of Directors. As of March 31, 2014, 593,574 shares have been reserved for issuance under the 2014 Plan and no shares have been granted under the 2014 Plan.


The following table summarizes stock option activity for the three months ended March 31, 2014:


    Number of
options
    Weighted-
average
exercise
price
    Weighted-
average
remaining
contractual
life (years)
    Aggregate
intrinsic
value
 
Outstanding at December 31, 2013     5,457,791     $ 7.61       6.54       20,396  
Granted     1,472,101       14.53                  
Exercised     (113,580 )     4.26                  
Cancelled     (142,506 )     8.22                  
Outstanding at March 31, 2014     6,673,806     $ 9.14       7.12     $ 33,737  
Exercisable at March 31, 2014     3,965,974     $ 7.33       5.59     $ 26,396  

Proceeds from the exercise of options and the total intrinsic value of the options exercised were $1,172 and $910, respectively, for the three months ended March 31, 2014. Proceeds from the exercise of options and the total intrinsic value of the options exercised were $3 and $12, respectively, for the three months ended March 31, 2013.


There were no options granted during the three months ended March 31, 2013. The weighted-average fair value per share at date of grant for options granted during the three months ended March 31, 2014 was $7.56. The fair value of options granted is estimated on the date of grant using the Black-Scholes option pricing model and recognized in expense over the vesting period of the options using the graded attribution method.


The following table presents the weighted-average assumptions used to estimate the fair value of options granted in the three months ended March 31, 2013 and 2014:


      2013       2014  
Volatility     50.26 %     49.77 %
Expected life (years)     6.25       6.25  
Risk-free interest rate     1.32 %     1.92 %
Dividend yield            

The expected stock price volatilities are estimated based on historical realized volatilities of comparable publicly traded company stock prices over a period of time commensurate with the expected term of the option award. The expected life represents the period of time for which the options granted are expected to be outstanding. The Company used the simplified method for determining expected life for options qualifying for treatment due to the limited history the Company currently has with option exercise activity. The risk-free interest rate is based on the U.S. Treasury yield curve for periods equal to the expected term of the options on the grant date.


Total stock-based compensation expense was $480 (including $28 relating to discontinued operations) and $1,069 for the three months ended March 31, 2013 and 2014, respectively.


At March 31, 2014, there was approximately $11,755 of unrecognized compensation expense related to unvested stock options, which is expected to be recognized over a weighted-average period of 2.98 years. The total fair value of stock options vested during the three months ended March 31, 2013 and 2014 was $1,402 and $953, respectively.


2014 Employee Stock Purchase Plan


The Company’s directors adopted, and the stockholders subsequently approved, the 2014 Employee Stock Purchase Plan (“ESPP”). The ESPP, which became effective immediately upon the signing of the underwriting agreement related to the IPO on March 27, 2014, authorizes the issuance of 500,000 shares of the Company’s common stock pursuant to purchase rights granted to employees. The number of shares of common stock reserved for issuance under the ESPP will automatically increase on January 1 of each calendar year from January 1, 2015 through January 1, 2024 by the least of (a) 1% of the total number of shares of common stock outstanding on December 31 of the preceding calendar year, (b) 400,000 shares and (c) a number determined by the Board of Directors that is less than (a) and (b). Unless otherwise determined by the Board of Directors, common stock will be purchased for participating employees at a price per share equal to the lower of (a) 85% of the fair market value of a share of the common stock on the first date of an offering, or (b) 85% of the fair market value of a share of the common stock on the date of purchase. For the initial offering period, the fair market value on the first day of the offering period was the $14.00 IPO price. Generally, all regular employees may participate in the ESPP and may contribute, through payroll deductions, up to 15% of their earnings toward the purchase of common stock under the ESPP. Under the terms of the ESPP, there are defined limitations as to the amount and value of common stock that can be purchased by each employee. The ESPP did not materially impact the Company’s results of operations for the three months ended March 31, 2014.


XML 40 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
Net Loss Per Share
3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

8. Net Loss Per Share


Basic net loss per share is computed by dividing net loss by the weighted-average number of outstanding shares of common stock during the period. Diluted net loss per share is computed using the weighted-average number of outstanding shares of common stock and, when dilutive, potential common shares outstanding during the period. Potential common shares include incremental shares issuable upon the assumed exercise of stock options and warrants using the treasury stock method. For the three months ended March 31, 2013 and 2014, the Company had outstanding options, warrants and preferred stock as disclosed in Notes 5, 6 and 7, which were convertible into or exercisable for common shares that were not included in the calculation of diluted loss per common share because the effect would have been anti-dilutive.


The unaudited pro forma net loss per share attributable to common stockholders for the three months ended March 31, 2014 assumes as of the first day of the quarter then ended (i) the conversion of all outstanding shares of redeemable convertible preferred stock into an aggregate of 18,457,235 shares of common stock, (ii) the issuance of 149,839 shares of common stock upon the automatic net exercise of a warrant, (iii) the issuance and sale of 5,622,686 common shares, including 262,686 from exercises of stock options and warrants by selling stockholders, upon the closing of the IPO, and (iv) the issuance and sale of 316,414 common shares pursuant to the underwriters’ exercise of their over-allotment option. Additionally, the pro forma net loss per share attributable to common stockholders reflects a deemed dividend on Series G redeemable convertible preferred stock of $8,079 resulting from the Series G ratchet provision (refer to Note 6).


    Three months ended March 31,
2014
 
Numerator:          
Historical net loss     $ (7,759 )
Plus: deemed dividend on Series G Preferred Stock       (8,079 )
Pro forma numerator for basic and diluted net loss per share attributable to common stockholders     $ (15,838 )
           
Denominator:          
Historical denominator for basic and diluted net loss per share—weighted average shares       5,403,846  
Plus: conversion of redeemable convertible preferred stock to common stock       18,457,235  
Plus: automatic net exercise of a warrant       149,839  
Plus: shares issued upon initial public offering, including shares exercised by certain selling shareholders       5,622,686  
Plus: shares issued pursuant to the underwriters’ exercise of their over-allotment option       316,414  
Pro forma denominator for basic and diluted net loss per share attributable to common shareholders       29,950,020  
Pro forma basic and diluted net loss per share attributable to common shareholders     $ (0.53 )

XML 41 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
Commitments and Contingencies
3 Months Ended
Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

10. Commitments and Contingencies


The Company is subject to certain claims that have arisen in the ordinary conduct of business. Based on the advice of counsel and an assessment of the nature and status of any potential claim, and taking into account any accruals the Company may have established for them, the Company currently believes that any liabilities ultimately resulting from such claims will not, individually or in the aggregate, have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.


XML 42 R34.htm IDEA: XBRL DOCUMENT v2.4.0.8
Net Loss Per Share (Details) (USD $)
3 Months Ended
Mar. 31, 2014
Apr. 02, 2014
Dec. 31, 2013
Net Loss Per Share (Details) [Line Items]      
Common Stock, Shares, Issued 5,545,768 5,676,414 5,366,478
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period 113,580 262,686  
Pro Forma [Member] | Unaudited pro forma assumptions [Member]
     
Net Loss Per Share (Details) [Line Items]      
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Preferred Stock 18,457,235    
Common Stock, Shares, Issued 149,839    
Stock Issued During Period, Value, New Issues (in Dollars) $ 5,622,686    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period 262,686    
Pro Forma [Member]
     
Net Loss Per Share (Details) [Line Items]      
Common Stock, Shares, Issued 30,091,942    
Pursuant to the Underwriters' Exercise of their Over-allotment Option [Member] | Unaudited pro forma assumptions [Member]
     
Net Loss Per Share (Details) [Line Items]      
Common Stock Shares Issued Upon Shoe Exercise 316,414    
Pursuant to the Underwriters' Exercise of their Over-allotment Option [Member]
     
Net Loss Per Share (Details) [Line Items]      
Stock Issued During Period, Value, New Issues (in Dollars) 316,414    
Unaudited pro forma assumptions [Member] | Ratchet Provision Deemed Dividend [Member]
     
Net Loss Per Share (Details) [Line Items]      
Dividends (in Dollars) $ 8,079,000    
XML 43 R21.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] The following table summarizes stock option activity for the three months ended March 31, 2014:

    Number of
options
    Weighted-
average
exercise
price
    Weighted-
average
remaining
contractual
life (years)
    Aggregate
intrinsic
value
 
Outstanding at December 31, 2013     5,457,791     $ 7.61       6.54       20,396  
Granted     1,472,101       14.53                  
Exercised     (113,580 )     4.26                  
Cancelled     (142,506 )     8.22                  
Outstanding at March 31, 2014     6,673,806     $ 9.14       7.12     $ 33,737  
Exercisable at March 31, 2014     3,965,974     $ 7.33       5.59     $ 26,396  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] The following table presents the weighted-average assumptions used to estimate the fair value of options granted in the three months ended March 31, 2013 and 2014:

      2013       2014  
Volatility     50.26 %     49.77 %
Expected life (years)     6.25       6.25  
Risk-free interest rate     1.32 %     1.92 %
Dividend yield            
XML 44 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
Goodwill and Other Intangible Assets (Details) - Schedule of definite-lived intangible assets (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Goodwill and Other Intangible Assets (Details) - Schedule of definite-lived intangible assets [Line Items]    
Gross carrying amount $ 26,315 $ 26,315
Accumulated amortization (17,125) (16,580)
Net carrying amount 9,190 9,735
Customer Relationships [Member]
   
Goodwill and Other Intangible Assets (Details) - Schedule of definite-lived intangible assets [Line Items]    
Gross carrying amount 11,910 11,910
Accumulated amortization (10,624) (10,481)
Net carrying amount 1,286 1,429
Weighted- average remaining useful life 2 years 255 days [1] 2 years 328 days [1]
Other Intangible Assets [Member]
   
Goodwill and Other Intangible Assets (Details) - Schedule of definite-lived intangible assets [Line Items]    
Gross carrying amount 3,900 3,900
Accumulated amortization (3,064) (2,925)
Net carrying amount 836 975
Weighted- average remaining useful life 1 year 6 months [1] 1 year 255 days [1]
Trade Names [Member]
   
Goodwill and Other Intangible Assets (Details) - Schedule of definite-lived intangible assets [Line Items]    
Gross carrying amount 10,505 10,505
Accumulated amortization (3,437) (3,174)
Net carrying amount $ 7,068 $ 7,331
Weighted- average remaining useful life 6 years 255 days [1] 7 years [1]
[1] The calculation of the weighted-average remaining useful life is based on weighting the net book value of each asset in its group, and applying the weight to its respective remaining amortization period.
XML 45 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Deficit (USD $)
In Thousands, except Share data
Redeemable Convertible Preferred Stock [Member]
Common Stock [Member]
Treasury Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Total
Balance at Dec. 31, 2012 $ 158,766 $ 49   $ 26,759 $ (105,458) $ (78,650)
Balance (in Shares) at Dec. 31, 2012 26,820,270 4,860,855        
Exercise of stock options       3   3
Exercise of stock options (in Shares)   1,666        
Issuance of common stock   1   980   981
Issuance of common stock (in Shares)   108,047        
Purchase of treasury stock     (55)     (55)
Purchase of treasury stock (in Shares)   (7,900)        
Stock-based compensation expense related to stock options       480   480
Net loss         (9,229) (9,229)
Balance at Mar. 31, 2013 158,766 50 (55) 28,222 (114,687) (86,470)
Balance (in Shares) at Mar. 31, 2013 26,820,270 4,962,668        
Balance at Dec. 31, 2013 158,766 54 (55) 33,726 (123,694) (89,969)
Balance (in Shares) at Dec. 31, 2013 26,820,270 5,366,478        
Exercise of stock options   1   482   483
Exercise of stock options (in Shares)   113,580       113,580
Issuance of common stock   1   918   919
Issuance of common stock (in Shares)   65,710       5,545,768
Stock-based compensation expense related to stock options       1,069   1,069
Warrant issued in connection with website partner agreement       1,131   1,131
Net loss         (7,759) (7,759)
Balance at Mar. 31, 2014 $ 158,766 $ 56 $ (55) $ 37,326 $ (131,453) $ (94,126)
Balance (in Shares) at Mar. 31, 2014 26,820,270 5,545,768        
XML 46 R10.htm IDEA: XBRL DOCUMENT v2.4.0.8
Goodwill and Other Intangible Assets
3 Months Ended
Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block]

4. Goodwill and Other Intangible Assets


The carrying value of the Company’s goodwill was $82,153 as of March 31, 2014. Goodwill is tested for impairment on an annual basis as of October 1, and whenever events or circumstances indicate that the carrying value of the asset may not be recoverable. Application of the impairment test requires judgment and results in impairment being recognized if the carrying value of the asset exceeds its fair value. No indicators of impairment were noted during or since the Company’s last evaluation of goodwill at October 1, 2013. Similarly, the Company’s definite-lived intangible assets with a net carrying value of $9,190 at March 31, 2014, consisting principally of trade names, customer relationships and agreements with certain of the Company’s website partners, is reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. There were no indicators of impairment of the Company’s definite-lived intangible assets during the three months ended 2013 and 2014.


Definite-lived intangible assets consist of the following:


    December 31, 2013     March 31, 2014  
    Gross
carrying
amount
    Accumulated
amortization
    Net
carrying
amount
    Weighted-
average
remaining
useful
life(1)
    Gross
carrying
amount
    Accumulated
amortization
    Net carrying amount     Weighted-
average
remaining
useful
life(1)
 
Customer relationships   $ 11,910     $ (10,481 )   $ 1,429       2.9     $ 11,910     $ (10,624 )   $ 1,286       2.7  
Other intangibles     3,900       (2,925 )     975       1.7       3,900       (3,064 )     836       1.5  
Trade names     10,505       (3,174 )     7,331       7.0       10,505       (3,437 )     7,068       6.7  
Total   $ 26,315     $ (16,580 )   $ 9,735             $ 26,315     $ (17,125 )   $ 9,190          

(1) The calculation of the weighted-average remaining useful life is based on weighting the net book value of each asset in its group, and applying the weight to its respective remaining amortization period.

Amortization expense relating to the definite-lived intangible assets totaled $1,015 and $545 for the three months ended March 31, 2013 and 2014, respectively, and is included in general and administrative expense in the accompanying consolidated statements of operations.


Future amortization expense of the intangible assets is estimated to be as follows:


Year ending December 31:      
2014 (April 1st to December 31st)   $ 1,636  
2015     1,938  
2016     1,248  
2017     1,239  
2018     1,051  
Thereafter     2,078  
Total   $ 9,190  

XML 47 R27.htm IDEA: XBRL DOCUMENT v2.4.0.8
Goodwill and Other Intangible Assets (Details) - Schedule of future amortization expense of intangible assets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
Schedule of future amortization expense of intangible assets [Abstract]    
2014 (April 1st to December 31st) $ 1,636  
2015 1,938  
2016 1,248  
2017 1,239  
2018 1,051  
Thereafter 2,078  
Total $ 9,190 $ 9,735
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Common Stock and Redeemable Convertible Preferred Stock (Tables)
3 Months Ended
Mar. 31, 2014
Share-based Arrangements with Employees and Nonemployees [Abstract]  
Redeemable Noncontrolling Interest [Table Text Block] The number of shares of the Company’s redeemable convertible preferred stock was not adjusted in connection with the 1-for-1.5 reverse stock split of common stock referred to above. The Company’s redeemable convertible preferred stock consisted of the following at each of December 31, 2013 and March 31, 2014:

    Shares   Stated value,        
    Authorized     Issued and
outstanding
    net of
expenses
    Liquidation
preference
 
Redeemable convertible preferred stock:                                
Series A     3,450,000       3,450,000     $ 1,053     $ 1,725  
Series B     2,547,252       2,547,252       4,413       4,500  
Series C     1,943,651       1,833,633       5,882       6,000  
Series D     3,934,855       3,934,855       25,354       27,027  
Series E     8,930,966       8,930,966       71,250       15,789  
Series F     3,064,087       2,951,128       22,468       22,468  
Series G     3,333,333       3,172,436       28,346       37,118  
Total     27,204,144       26,820,270     $ 158,766     $ 114,627  
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