-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KC2zpXAl3FpxqXpCh+3Fwbp1jguk13maDzCyc+9XaPtTfaik3G6JCh5A+jRmFwmo jxKvuSZuURMjD+P5FF0K7A== 0001354488-09-002016.txt : 20091112 0001354488-09-002016.hdr.sgml : 20091111 20091112154221 ACCESSION NUMBER: 0001354488-09-002016 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20090630 FILED AS OF DATE: 20091112 DATE AS OF CHANGE: 20091112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ISSUER DIRECT CORP CENTRAL INDEX KEY: 0000843006 STANDARD INDUSTRIAL CLASSIFICATION: COMMERCIAL PRINTING [2750] IRS NUMBER: 261331503 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-10185 FILM NUMBER: 091176889 BUSINESS ADDRESS: STREET 1: 201 SHANNON OAKS CIRCLE STREET 2: SUITE 105 CITY: CARY STATE: NC ZIP: 27511 BUSINESS PHONE: 9194611600 MAIL ADDRESS: STREET 1: 201 SHANNON OAKS CIRCLE STREET 2: SUITE 105 CITY: CARY STATE: NC ZIP: 27511 FORMER COMPANY: FORMER CONFORMED NAME: DOCUCON INC DATE OF NAME CHANGE: 20071002 FORMER COMPANY: FORMER CONFORMED NAME: DOCUCON INCORPORATED DATE OF NAME CHANGE: 19920703 10-Q/A 1 isdr_10qa.htm AMENDED QUARTERLY REPORT ISSUER DIRECT CORPORATION


 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


———————

FORM 10-Q/A

———————


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

For the quarterly period ended: June 30, 2009

or


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

For the transition period from: _____________ to _____________


———————

ISSUER DIRECT CORPORATION

(Exact name of registrant as specified in its charter)

———————


Delaware

1-10185

26-1331503

(State or Other Jurisdiction

(Commission

(I.R.S. Employer

of Incorporation)

File Number)

Identification No.)

201 Shannon Oaks Circle Suite 105, Cary North Carolina 27511

(Address of Principal Executive Office) (Zip Code)

(919) 481-4000

(Registrant’s telephone number, including area code)

N/A

(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 þ No


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).    þ Yes ¨ No


Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.


Large accelerated filer

¨

 

Accelerated filer

¨

 

Non-accelerated filer

¨

 

Smaller reporting company

þ

 


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


Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. 16,854,717 shares of common stock were issued and outstanding as of October 10, 2009.

 

 







Explanatory Note

The purpose of this Amendment No. 1 to our Quarterly Report on Form 10-Q for the period ended June 30, 2009, as filed with the Securities and Exchange Commission on August 10, 2009, is to furnish Exhibit 101 to the Form 10-Q as required by Rule 405 of Regulation S-T. Exhibit 101 to this report provides the following items from our Form 10-Q formatted in eXtensible Business Reporting Language (XBRL): (i) Consolidated Balance Sheets at June 30, 2009, and December 31, 2008; (ii) Consolidated Statements of Income for the three and six months periods ended June 30, 2009, and 2008; (iii) Consolidated Statements of Cash Flows for periods ended June 30, 2009, and 2008;  (iv) Notes to the Consolidated Financial Statements, tagged as blocks of text.

Users of this data are advised that pursuant to Rule 406T of Regulation S-T these interactive data files 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, are deemed not filed for purposes of section 18 of the Securities and Exchange Act of 1934, and otherwise are not subject to liability under those sections. No other changes have been made to the Form 10-Q other than those described herein. 

Furthermore investors should not rely on the information previously filed on October 28, 2009 on form 8-K, including Exhibit 101, in making investment decisions. This amendment is being filed to correct compliance and validation issues as it relates to the form 8-K and Exhibits.


ITEM 6

EXHIBITS.


Exhibit Number

 

Description

31.1

    

Rule 13a-14(a) Certification of Principal Executive Officer.*

31.2

 

Rule 13a-14(a) Certification of Principal Financial Officer.*

32.1

 

Section 1350 Certification of Principal Executive Officer.*

32.2

 

Section 1350 Certification of Principal Financial Officer.*

101.INS

 

XBRL Instance Document**

101.SCH

 

XBRL Taxonomy Extension Schema**

101.CAL

 

XBRL Taxonomy Extension Calculation Linkbase**

101.DEF

 

XBRL Taxonomy Extension Definition Linkbase**

101.LAB

 

XBRL Taxonomy Extension Label Linkbase**

101.PRE

 

XBRL Taxonomy Extension Presentation Linkbase**

———————

* Filed with our Form 10-Q as filed on August 10, 2009.
** Filed herewith







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.

Date: November 12, 2009

   

ISSUER DIRECT CORPORATION

 

 

 

 

 

 

 

By:

/s/ BRIAN R. BALBIRNIE

 

 

Brian R. Balbirnie

 

 

Chief Executive Officer





EX-101.INS 2 isdr-20090630.xml XBRL INSTANCE DOCUMENT 0000843006 2009-04-01 2009-06-30 0000843006 2009-01-01 2009-06-30 0000843006 2008-04-01 2008-06-30 0000843006 2008-01-01 2008-06-30 0000843006 2009-06-30 0000843006 2008-12-31 0000843006 2007-12-31 0000843006 2008-06-30 iso4217:USD xbrli:shares 10-Q true 2009-06-30 185380 50367 261281 165681 6242 6242 26766 2855 22051 15987 2000 134029 635749.00 479669.0 390827.00 225145.0 147695 80255 143560 97663 128050 73525 73525 25000 64828 5 7 16754 18834 1461338 1441006 4236 4236 -1114555 -1474747 635749.00 276443.0 359306.0 390827.00 409963.0 -19136.0 198160 189520 144935 63487 169706 271041 138527 77391 9932 65 0.02 0.02 16748783 16751905 268852.0000 268917.000 494767.00 765808.0 225850.0 185610 169898 80391 14900 284195 403881 112768 4831 -22051 -0.02 -0.02 17243658 17243658 166604.00 394020 294607 285039 80919 183756 485041 240125 132381 19264 1336 0.02 0.02 16187857 16191362 360194.0000 361530.000 391770.0 1238341.0 753300.00 367074 239661 114614 22800 421917 864756 163543 9674 -0.04 -0.04 17028250 17028250 5624 -721365.0000 -715741.000 322232.00 450799.0 521480.0 -354876.000 -332825.0000 744149.0 1037973.0 26963 122564 21911 -63305 -5389 11661 6750 39828 -46578.0 -11661.0 193252.00000 135013.000000 39318 37342 630899 98424 1076 120626 18045 50000 10355 -41621.00000 -1976.000000 39645.0 --12-31 359606 16754717 0 0 0 0 0 0 0 0 0 Amendment to period ended 2009-06-30 ISDR Issuer Direct Corporation 0000843006 Smaller Reporting Company Yes Yes No <p style="margin-top:0px; margin-bottom:8.867px"><b>Basis of Presentation</b></p> <p style="margin-top:0px; margin-bottom:8.867px">The unaudited interim balance sheet as of June 30, 2009 and statement of operations and cash flows for the periods ended June 30, 2009 and 2008 included herein, have been prepared in accordance with the instructions for Form 10-Q under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Article 10 of Regulation S-X under the Exchange Act. In the opinion of the management, they include all normal recurring adjustments necessary for a fair presentation of the financial statements. Results of operations reported for the interim periods are not necessarily indicative of results for the entire year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations relating to interim financial statements. The interim financial information should be read in con junction with Issuer Direct Corporation's (the Company's) 2008 audited financial statements filed on Form 10-K.</p> <p style="margin-top:0px; margin-bottom:8.867px">Certain reclassifications have been made to prior period amounts to conform to the current period presentation. All reclassifications have been applied consistently for the periods presented.</p> <p style="margin-top:0px; margin-bottom:8.867px"><b>Going Concern</b></p> <p style="margin-top:0px; margin-bottom:13.333px">Since inception and through December 31, 2008, we have incurred losses and at June 30, 2009, we have an accumulated deficit of $1,114,555, which raises substantial doubt about our ability to continue as a going concern. We have funded our operations and marketing efforts since inception through the issuance of debt and equity securities. Should we require additional funds and if we are unable to acquire such funds, our ability to continue as a going concern will be severely impacted. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</p> <p style="margin-top:0px; margin-bottom:8.867px"><b>Earnings per Share</b></p> <p style="margin-top:0px; margin-bottom:8.867px">Basic EPS excludes dilution and is computed by dividing income (loss) available to common stockholders by the weighted-average common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Diluted loss per share for the quarter and six months ending June 30, 2009, gives effect to the weighted average of 3,122 and 3,505, respectively, shares issuable upon conversion of the Company's shares of preferred stock (556 common shares for each of the preferred shares that were outstanding during the periods). As the fully diluted loss per share for the comparable 2008 periods was anti-dilutive, no effect was given to the preferred shares for the 2008 periods.</p> <p style="margin-top:0px; margin-bottom:8.867px"><b>Allowance for Doubtful Accounts</b></p> <p style="margin-top:0px; margin-bottom:8.867px">We provide an allowance for doubtful accounts, which is based upon a review of outstanding receivables as well as historical collection information. Credit is granted to most customers on an unsecured basis. In determining the amount of the allowance, management is required to make certain estimates and assumptions. During the three months and six months ended June 30, 2009, we recorded bad debt expense totaling $16,158 and $26,963, and permanently wrote off $25,141 of amounts previously reserved, net of recoveries. Accordingly, our allowance for doubtful accounts increased slightly from $43,764 at December 31, 2008 to $45,586 at June 30, 2009. There was no change in our allowance for doubtful accounts from December 31, 2007 to June 30, 2008.</p> <p style="margin-top:0px; margin-bottom:8.867px"><b>Use of Estimates</b></p> <p style="margin-top:0px; margin-bottom:8.867px">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the allowance for doubtful accounts and the valuation of goodwill and intangible assets. Actual results could differ from those estimates.</p> <p style="margin-top:0px; margin-bottom:8.867px"><b>Income Taxes</b></p> <p style="margin-top:0px; margin-bottom:8.867px">We follow an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred income tax assets to the amounts expected to be realized.</p> <p style="margin-top:0px; margin-bottom:8.867px">At the end of each interim period, we estimate the effective tax rate we expect to be applicable for the full fiscal year and this rate is applied to our results for the interim year to date period. Based upon our evaluation of possible future events and transactions, expected changes to our valuation allowance and utilization of our net operating loss carryforwards, we currently estimate our effective rate for the 2009 fiscal year will be 0%. </p> <p style="margin-top:0px; margin-bottom:8.867px">Our policy regarding the classification of interest and penalties is to classify them as income tax expense in the Company's financial statements, if applicable. </p> <p style="margin-top:0px; margin-bottom:8.867px"><b>Fair Value Measurements</b></p> <p style="margin-top:0px; margin-bottom:8.867px">On January 1, 2008 we adopted SFAS No. 157, <i>Fair Value Measurements,</i> for financial assets and liabilities. SFAS 157 applies to reported balances that are required or permitted to be measured at fair value under an existing accounting pronouncement. SFAS 157 emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability and establishes a fair value hierarchy. The fair value hierarchy consists of three levels of inputs that may be used to measure fair value: </p> <p style="margin-top:0px; margin-bottom:8.867px">As of June 30, 2009 and December 31, 2008, we do not have any accounts that are required to be or that we elected to measure at fair value.</p> <p style="margin-top:0px; margin-bottom:8.867px">In February 2008, the FASB issued FSP FAS 157-2, <i>Effective Date of FASB Statement 157</i>. FSP FAS 157-2 delayed the effective date of SFAS 157 for all nonfinancial assets and nonfinancial liabilities, except those that are recognized or disclosed at fair value in the financial statements on a recurring basis. For the instruments subject to the effective date delay under FSP FAS 157-2, we adopted the fair value provisions in this first quarter of 2009. Our assets and liabilities that will be subject to FAS 157 during 2009 include our intangible assets, consisting of goodwill, domain names and software, and our long-lived assets. Based on our evaluation of this statement, the adoption of FSP 157-2 did not have a significant impact on the determination or reporting of our financial results.</p> <p style="margin-top:0px; margin-bottom:8.867px">We believe that the fair value of our financial instruments, which consist of cash and cash equivalents, accounts receivable, accounts payable, and unsecured notes payable approximate their carrying amounts. The interest rates payable on our notes approximate market rates on similar borrowings at June 30, 2009.</p> <p style="margin-top:0px; margin-bottom:8.867px"><b>Recent Accounting Pronouncements</b></p> <p style="margin-top:0px; margin-bottom:8.867px">In June 2009, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards (SFAS) No. 168<i>, The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles-a Replacement of FASB Statement No. 162</i>, (SFAS 168). SFAS 168 establishes the FASB Accounting Standards Codification (Codification) as the single source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative U.S. GAAP for SEC registrants. SFAS 168 is effective for financial statements issued for interim and annual periods ending after September 15, 2009. When effective, the Codification will supersede all existing non-SEC accounting and reporting standards. All other non-grandfathered non-SEC accounting literature not included in the Codification will become non-authoritative. The Company does not believe the adoption of SFAS 168 will have a material impact on its results of operations or financial position.</p> <p style="margin-top:0px; margin-bottom:13.333px">The adoption of other recently issued accounting pronouncements did not have a material effect on our financial position or results from operations. We do not expect recently issued accounting pronouncements that are not yet effective will have a material effect on our financial position or results of operations upon adoption.</p> <p style="margin-top:0px; margin-bottom:8.867px">As of June 30, 2009 and December 31, 2008, we had unsecured notes payable outstanding totaling $25,000 and $64,828, respectively, as follows:</p> <table style="font-size:10pt" cellspacing="0" align="center"><tr style="font-size:0"><td width="4.4"></td><td width="16.667"></td><td width="6.667"></td><td width="63.333"></td><td width="3.333"></td><td width="16.667"></td><td width="6.667"></td><td width="63.333"></td><td width="3.333"></td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px"><b> </b></p> </td><td style="border-bottom:1.333px solid #000000" valign="bottom" width="70" colspan="3"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>June 30,</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2009</b></p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt"><b> </b></p> </td><td style="border-bottom:1.333px solid #000000" valign="bottom" width="70" colspan="3"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>December 31,</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2008</b></p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Unsecured Note Payable in connection with the asset purchase agreement in March 2007, with interest of 8%, which was fully paid on January 28, 2009. </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">--</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">35,000</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Unsecured Note Payable in connection with the July 2, 2007 acquisition of Bassett Press, with interest of 8%, due and payable monthly, due on July 17, 2009 and which was fully repaid in August 2009.</p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">25,000</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">29,828</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px"> </p> </td><td valign="bottom" width="63.333"><p style="margin:0px" align="right"></p> </td><td valign="bottom" width="3.333"><p style="margin:0px"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px"> </p> </td><td valign="bottom" width="63.333"><p style="margin:0px" align="right"></p> </td><td valign="bottom" width="3.333"><p style="margin:0px"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Less current portion</p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">25,000</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">64,828</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Total long-term notes payable- other</p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt;; font-size:8pt">$</p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">-</p> </td><td style="border-bottom:3px double #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">-</p> </td><td style="border-bottom:3px double #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> </table> <p style="margin:0px"><br /></p> <p style="margin-top:0px; margin-bottom:13.333px">On January 28, 2009, we entered into a settlement and release agreement ("Agreement") with the holder of the note payable that we issued in March 2007. Pursuant to the terms of the agreement, the holder agreed to accept $35,000 in full payment of principal and interest, which was paid in full on January 28, 2009. We recognized a gain on settlement of debt of approximately $16,900 as of December 31, 2008, when we reduced the carrying value of the debt pursuant to the settlement agreement.</p> <p style="margin-top:0px; margin-bottom:8.867px">As of June 30, 2009 and December 31, 2008, we had three unsecured related party notes payable outstanding, totaling $73,525 as follows:</p> <table style="font-size:10pt" cellspacing="0" align="center"><tr style="font-size:0"><td width="4.4"></td><td width="16.667"></td><td width="6.667"></td><td width="63.333"></td><td width="3.333"></td><td width="16.667"></td><td width="6.667"></td><td width="63.333"></td><td width="3.333"></td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px"><b> </b></p> </td><td style="border-bottom:1.333px solid #000000" valign="bottom" width="70" colspan="3"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>June 30,</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2009</b></p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt"><b> </b></p> </td><td style="border-bottom:1.333px solid #000000" valign="bottom" width="70" colspan="3"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>December 31,<br /> 2008</b></p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Note Payable to our Chief Executive Officer in the amount of $25,000 for various obligations the former company was party to, including former legal counsel, former transfer agent and tax obligations with the state of Delaware. The unsecured note carries interest in the amount of 8% per annum and was due on December 31, 2008 or upon completion of a financing agreement totaling $250,000. The note is in default at June 30, 2009, and the holder has the right to demand payment at any time. There are no penalties associated with the default.</p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">23,525</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">23,525</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> <tr><td valign="top" width="4.4"><p> </p></td><td valign="bottom" width="16.667"><p> </p></td><td valign="bottom" width="6.667"><p> </p></td><td valign="top" width="63.333"><p> </p></td><td valign="top" width="3.333"><p> </p></td><td valign="bottom" width="16.667"><p> </p></td><td valign="top" width="6.667"><p> </p></td><td valign="top" width="63.333"><p> </p></td><td valign="bottom" width="3.333"><p style="margin:0px"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Unsecured Note Payable to a Director of the Company in the amount of $25,000, with interest of 8%, due on receipt by the Company or its designated escrow agent of an aggregate of $1,000,000 in gross proceeds of the Private Placement.</p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right"> 25,000</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">25,000</p> </td><td valign="bottom" width="3.333"><p style="margin:0px"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt;; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Unsecured Note Payable to a Director of the Company in the amount of $25,000, with interest of 8%, due on receipt by the Company or its designated escrow agent of an aggregate of $1,000,000 in gross proceeds of the Private Placement.</p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right"> 25,000</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">25,000</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Total notes payable - related party</p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">73,525</p> </td><td style="border-bottom:3px double #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">73,525</p> </td><td style="border-bottom:3px double #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> </table> <p style="margin-top:0px; margin-bottom:8.867px">During the six months ended June 30, 2009, we issued 150,000 shares of our common stock to an employee under the terms of an employment agreement, paid $6,750 to repurchase 2,250,000 shares from our former President shortly after his resignation, and issued 20,000 shares of common stock to redeem all obligations pursuant to two shares of preferred stock, as follows:</p> <table style="font-size:10pt" cellspacing="0" align="center"><tr style="font-size:0"><td width="534.733"></td><td width="3.333"></td><td width="3.333"></td><td width="69.133"></td><td width="4.467"></td></tr> <tr><td valign="bottom" width="534.733"><p style="margin:0px"> </p> </td><td valign="bottom" width="3.333"><p style="margin:0px"><b> </b></p> </td><td style="border-bottom:1.333px solid #000000" valign="bottom" width="72.467" colspan="2"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>Six Months</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>Ended</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>June 30,</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2009</b></p> </td><td valign="bottom" width="4.467"><p> </p></td></tr> <tr><td valign="bottom" width="534.733"><p style="margin:0px; font-size:8pt">Outstanding at January 1, 2009</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="69.133"><p style="margin:0px; font-size:8pt" align="right">18,834,717</p> </td><td valign="bottom" width="4.467"><p> </p></td></tr> <tr><td valign="bottom" width="534.733"><p style="margin:0px; font-size:8pt">Shares issued in settlement of obligation for services rendered in fiscal 2008 </p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="69.133"><p style="margin:0px; font-size:8pt" align="right">150,000</p> </td><td valign="bottom" width="4.467"><p> </p></td></tr> <tr><td valign="bottom" width="534.733"><p style="margin:0px; font-size:8pt">Repurchase of shares, subsequently retired</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="69.133"><p style="margin:0px; font-size:8pt" align="right">(2,250,000</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="4.467"><p style="margin:0px; font-size:8pt">)</p> </td></tr> <tr><td valign="bottom" width="534.733"><p style="margin:0px; font-size:8pt">Shares issued to redeem preferred stock</p> </td><td valign="bottom" width="3.333"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="3.333"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="69.133"><p style="margin:0px; font-size:8pt" align="right">20,000</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="4.467"><p> </p></td></tr> <tr><td valign="bottom" width="534.733"><p> </p></td><td valign="bottom" width="3.333"><p> </p></td><td valign="bottom" width="3.333"><p> </p></td><td valign="bottom" width="69.133"><p> </p></td><td valign="bottom" width="4.467"><p> </p></td></tr> <tr><td valign="bottom" width="534.733"><p style="margin:0px; font-size:8pt">Outstanding at June 30, 2009</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="69.133"><p style="margin:0px; font-size:8pt" align="right">16,754,717</p> </td><td style="border-bottom:3px double #FFFFFF" valign="bottom" width="4.467"><p> </p></td></tr> </table> <p style="margin:0px"><br /></p> <p style="margin-top:0px; margin-bottom:8.867px">In February 2009, we issued 150,000 shares of our common stock in connection with an employment agreement with a former officer of Bassett Press. The fair market value of the shares totaled $25,000, or $0.17 per share, which represents the closing price on the date of the agreement. These shares were issued pursuant to the employment agreement. </p> <p style="margin-top:0px; margin-bottom:8.867px">In February, 2009, our former President, who remains on our Board of Directors, sold 2,250,000 shares from his beneficial holdings in a private transaction for $6,750 to the Company. The shares were retired, and we reduced paid-in capital by $4,500.</p> <p style="margin-top:0px; margin-bottom:7.8px">At June 30, 2009, we had five outstanding shares of Series A Preferred Stock. Although the Certificate of Designation of the rights, preferences and limitations of the Preferred Stock provides for dividends equal to eleven percent (11.0%) per year on the liquidation preference of $25,000 per share, we have not declared or accrued such dividends. These shares were issued by our predecessor company and the original documentation which would validate claims thereto is not available, and we are taking steps to retire the series. In April 2009, we issued 20,000 common shares to the holder of two preferred shares, for a value of $100 each, in settlement of the stated value and any potential claims to accumulated dividends thereon. Additionally, under Delaware law, dividends are an obligation only when declared, and the Board has not declared any dividends payable on the Series A Preferred Stock. </p> <p style="margin-top:0px; margin-bottom:7.8px">Included in intangible assets is $50,000 of proprietary software of intellectual property acquired in July 2007, as part of the Basset Press acquisition, At the date of the acquisition and through the year ended December 31, 2008, we assigned an indefinite life to the proprietary software and included such software in our annual evaluation of impairment. During the first quarter of 2009, we reevaluated the useful life of the propriety software and have assigned a remaining estimated useful life of 6 years to such asset.</p> <p style="margin-top:0px; margin-bottom:7.8px">For the three- and six-month periods ended June 30, 2009 and 2008, we earned revenues (as a percentage of total revenues) in the following categories:</p> <table style="font-size:10pt" cellspacing="0" align="center"><tr style="font-size:0"><td width="263.6"></td><td width="18.733"></td><td width="1.467"></td><td width="67.667"></td><td width="18.733"></td><td width="3.733"></td><td width="67.667"></td><td width="20.867"></td><td width="3.733"></td><td width="67.667"></td><td width="18.733"></td><td width="3.733"></td><td width="67.667"></td></tr> <tr><td valign="bottom" width="263.6"><p> </p></td><td valign="bottom" width="18.733"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="159.267" colspan="5"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>Three Months Ended<br /> June 30</b></p> </td><td valign="bottom" width="20.867"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="161.533" colspan="5"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>Six Months Ended</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>June 30</b></p> </td></tr> <tr><td style="border-bottom:1px solid #000000" valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Revenue Streams</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="1.467"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="67.667"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2009</b></p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="67.667"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2008</b></p> </td><td valign="bottom" width="20.867"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="67.667"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2009</b></p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="67.667"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2008</b></p> </td></tr> <tr><td valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Compliance and reporting services</p> </td><td valign="bottom" width="18.733"><p style="font-size:8pt; margin:0px"> </p> </td><td valign="bottom" width="1.467"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">25.9%</p> </td><td valign="bottom" width="18.733"><p style="font-size:8pt; margin:0px"> </p> </td><td valign="bottom" width="3.733"><p style="font-size:8pt; margin:0px"> </p> </td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">41.2%</p> </td><td valign="bottom" width="20.867"><p style="font-size:8pt; margin:0px; font-family:Arial"> </p> </td><td valign="bottom" width="3.733"><p style="font-size:8pt; margin:0px"> </p> </td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">31.8%</p> </td><td valign="bottom" width="18.733"><p style="font-size:8pt; margin:0px"> </p> </td><td valign="bottom" width="3.733"><p style="font-size:8pt; margin:0px"> </p> </td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">49.3%</p> </td></tr> <tr><td valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Printing and financial communication</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="1.467"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">24.7%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">37.7%</p> </td><td valign="bottom" width="20.867"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">23.8%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">32.2%</p> </td></tr> <tr><td valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Fulfillment and distribution</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="1.467"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">18.9%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">17.8%</p> </td><td valign="bottom" width="20.867"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">23.0%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">15.4%</p> </td></tr> <tr><td valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Software licensing</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="1.467"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">8.3%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">3.3%</p> </td><td valign="bottom" width="20.867"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">6.6%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">3.1%</p> </td></tr> <tr><td valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Transfer agent services</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="1.467"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">22.2%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">- </p> </td><td valign="bottom" width="20.867"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">14.8%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">- </p> </td></tr> <tr><td valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Total</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="1.467"><p> </p></td><td style="border-top:1.333px solid #000000; border-bottom:3px double #000000" valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">100.0%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td style="border-top:1.333px solid #000000; border-bottom:3px double #000000" valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">100.0%</p> </td><td valign="bottom" width="20.867"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td style="border-top:1.333px solid #000000; border-bottom:3px double #000000" valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">100.0%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td style="border-top:1.333px solid #000000; border-bottom:3px double #000000" valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">100.0%</p> </td></tr> </table> <p style="margin:0px"><br /></p> <p style="margin-top:0px; margin-bottom:8.867px">One customer accounted for 43.1% of our operating revenues during the three- month period ended June 30, 2009. The same customer accounted for 42.5% of the operating revenues during the six-month period ended June 30, 2009. </p> <p style="margin-top:0px; margin-bottom:8.867px">One customer accounted for 11.6% of our operating revenues during the three-month period ended June 30, 2008. A different customer accounted for 9.9 % of our operating revenues during the six-month period ended June 30, 2008.</p> <p style="margin-top:0px; margin-bottom:8.867px">At June 30, 2009, three customers accounted for 44.9% (19.3%, 14.9%, and 10.7%) of our total accounts receivable. As of December 31, 2008, two customers comprised 55.3% (41.0% and 14.3%) of our total accounts receivable.</p> <p style="margin-top:0px; margin-bottom:8.867px">We do not believe we had any financial instruments that could have potentially subjected us to significant concentrations of credit risk. A portion of our revenues are paid at the beginning of the month via credit card or in advance by check, the remaining accounts receivable amounts are generally due within 30 days, none of which is collateralized.</p> <p style="margin-top:0px; margin-bottom:8.867px">We issued 100,000 shares of our common stock in July 2009 to a consultant in exchange for certain consulting services, with an estimated fair market value of $10,000, which is equal to the closing price of our common stock on the date of the issuance.</p> EX-101.SCH 3 isdr-20090630.xsd XBRL TAXONOMY EXTENSION SCHEMA 0098 - Disclosure - Document Information link:presentationLink link:calculationLink link:definitionLink 0001 - Statement - Statement of Financial Position (Consolidated) link:presentationLink link:calculationLink link:definitionLink 0002 - Statement - Statement of Income link:presentationLink link:calculationLink link:definitionLink 0003 - Statement - Statement of Cash Flows link:presentationLink link:calculationLink link:definitionLink 0010 - Disclosure - Notes to Financial Statements link:presentationLink link:calculationLink link:definitionLink 0099 - Disclosure - Entity Information link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 isdr-20090630_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 5 isdr-20090630_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 6 isdr-20090630_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Document Type Amendment Flag Document Period End Date Total assets Total assets Total current assets Total current assets Cash and cash equivalents Cash - beginning Cash - ending Accounts receivable, (net of allowance for doubtful accounts of $45,586 and $43,764, respectively) Security deposits Other current assets Furniture, equipment and improvements (net of accumulated depreciation of $12,699 and $43,201, respectively) Other long-term assets Intangible assets (net of accumulated amortization and impairment of $184,167 and $170,500, respectively) Assets Liabilities Accounts payable Accrued expenses Notes payable- related party Notes payable- other Total liabilities Total liabilities Stockholders equity (deficit) Preferred stock, $1.00 par value, 10,000,000 shares authorized Series A, 60 shares designated, 5 and 7 shares issued and outstanding as of June 30, 2009 and December 31, 2008, respectively. Common stock $.001 par value, 100,000,000 shares authorized, 16,754,717 and 18,834,717 shares issued and outstanding as of June 30, 2009 and December 31, 2008, respectively. Additional paid-in capital Treasury stock at cost 4,495 shares Accumulated deficit Total stockholders equity (deficit) Total stockholders equity (deficit) Liabilities and Stockholders Equity Total liabilities and stockholders equity Total liabilities and stockholders equity Revenues Total revenue Total revenue Compliance and reporting services Printing and financial communication Fulfillment and distribution Software licensing Transfer agent services Cost of Services Cost of services Cost of services Gross Profit Gross profit Gross profit Operating Expenses Gereral and administrative Sales and marketing expenses Depreciation and amortization Total operating costs and expenses Total operating costs and expenses Net Operating Income (loss) Total net operating income (loss) Total net operating income (loss) Interest expense (income) Total interest expense (income) Total interest expense (income) Net Income (loss) Total net income (loss) Total net income (loss) Earnings Per Share Weighted Average Number of Shares Outstanding Income (loss) per share - basic Income (loss) per share - fully diluted Weighted average number of common shares outstanding - basic Weighted average number of common shares outstanding - fully diluted Statement of Income Statement of Financial Position (Consolidated) Statement of Cash Flows Adjustments to reconcile net loss to net cash provided by (used in) operating activities Bad debt expense Stock-based expenses Changes in operating assets and liabilities Increase (decrease) in accounts receivable Increase (decrease) in deposits and prepaids Increase (decrease) in accounts payable Increase (decrease) in accrued liabilities Total net cash provided by (used in) operating activities Total net cash provided by (used in) operating activities Net cash provided by (used in) operating activities Cash flows from investing activities Purchase of property and equipment Net cash provided by (used in) investing activities Net cash provided by (used in) investing activities Cash flows from financing activities Repurchase of common stock Repayments of notes payable Net cash provided by (used in) financing activities Net cash provided by (used in) financing activities Total net change in cash Net change in cash Proceeds from sale of common stock Supplemental disclosure for non-cash investing and financing activities Cash paid for interest Cash paid for income taxes Note 1. Accounting Policies Note 2. Summary of Significant Accounting Policies Note 3. Notes payable- other Note 4. Notes payable- related party Note 5. Preferred stock and common stock Note 6. Intangible Assets Note 7. Concentrations Note 8. Subsequent Events Notes to Financial Statements Entity Information Entity Trading Symbol Entity Registrant Name Entity Central Index Key Current Fiscal Year End Date Entity Common Stock, Shares Outstanding Entity Public Float Amendment Description Entity Filer Category Entity Voluntary Filer Entity Current Reporting Status Entity Well Known Seasoned Issuer Document Information EX-101.PRE 7 isdr-20090630_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 8 R3.xml IDEA: Statement of Cash Flows 1.0.0.3 false Statement of Cash Flows (USD $) false 1 $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 false 2 $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 3 1 us-gaap_NetIncomeLossAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false No definition available. false 4 2 us-gaap_NetIncomeLoss us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 true true 360194.0000 360194.0000 false false 2 true true -721365.0000 -721365.0000 false false No definition available. No authoritative reference available. false 5 1 us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false No definition available. false 6 2 us-gaap_DepreciationAndAmortization us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 19264 19264 false false 2 false true 9674 9674 false false No definition available. No authoritative reference available. false 7 2 us-gaap_ProvisionForDoubtfulAccounts us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 26963 26963 false false 2 false true 0 0 false false No definition available. No authoritative reference available. false 8 2 us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 0 0 false false 2 false true 630899 630899 false false No definition available. No authoritative reference available. false 9 1 us-gaap_IncreaseDecreaseInOperatingCapitalAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false No definition available. false 10 2 us-gaap_IncreaseDecreaseInAccountsReceivable us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 122564 122564 false false 2 false true 98424 98424 false false No definition available. No authoritative reference available. false 11 2 us-gaap_IncreaseDecreaseInDeposits us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 21911 21911 false false 2 false true 1076 1076 false false No definition available. No authoritative reference available. false 12 2 us-gaap_IncreaseDecreaseInAccountsPayable us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -63305 -63305 false false 2 false true 120626 120626 false false No definition available. No authoritative reference available. false 13 2 us-gaap_IncreaseDecreaseInAccruedLiabilities us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -5389 -5389 false false 2 false true 18045 18045 false false No definition available. No authoritative reference available. false 14 1 us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false No definition available. false 15 2 us-gaap_NetCashProvidedByUsedInOperatingActivities us-gaap true na duration monetary No definition available. false false false false false false false false false 1 false true 193252.00000 193252.00000 false false 2 false true -41621.00000 -41621.00000 false false No definition available. No authoritative reference available. true 16 1 us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false No definition available. false 17 2 us-gaap_PaymentsToAcquireMachineryAndEquipment us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 11661 11661 false false 2 false true 0 0 false false No definition available. No authoritative reference available. false 18 2 us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -11661.0 -11661.0 false false 2 false true 0 0 false false No definition available. No authoritative reference available. true 19 1 us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false No definition available. false 20 2 us-gaap_PaymentsForRepurchaseOfCommonStock us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 6750 6750 false false 2 false true 0 0 false false No definition available. No authoritative reference available. false 21 2 us-gaap_ProceedsFromIssuanceOfCommonStock us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 0 0 false false 2 false true 50000 50000 false false No definition available. No authoritative reference available. false 22 2 us-gaap_RepaymentsOfNotesPayable us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 39828 39828 false false 2 false true 10355 10355 false false No definition available. No authoritative reference available. false 23 2 us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true -46578.0 -46578.0 false false 2 false true 39645.0 39645.0 false false No definition available. No authoritative reference available. true 24 1 us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false No definition available. false 25 2 us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease us-gaap true na duration monetary No definition available. false false false false false false false false false 1 false true 135013.000000 135013.000000 false false 2 false true -1976.000000 -1976.000000 false false No definition available. No authoritative reference available. false 26 2 us-gaap_CashAndCashEquivalentsAtCarryingValue us-gaap true debit instant monetary No definition available. false false false false false false true false false 1 false true 50367 50367 false false 2 false true 39318 39318 false false No definition available. No authoritative reference available. false 27 2 us-gaap_CashAndCashEquivalentsAtCarryingValue us-gaap true debit instant monetary No definition available. false false false false false false false true false 1 true true 185380 185380 false false 2 true true 37342 37342 false false No definition available. No authoritative reference available. false false 2 25 false NoRounding UnKnown UnKnown false true XML 9 R4.xml IDEA: Notes to Financial Statements 1.0.0.3 false Notes to Financial Statements false 1 $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 2 0 isdr_NotesToFinancialStatements isdr false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false No definition available. false 3 1 us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <p style="margin-top:0px; margin-bottom:8.867px"><b>Basis of Presentation</b></p> <p style="margin-top:0px; margin-bottom:8.867px">The unaudited interim balance sheet as of June 30, 2009 and statement of operations and cash flows for the periods ended June 30, 2009 and 2008 included herein, have been prepared in accordance with the instructions for Form 10-Q under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Article 10 of Regulation S-X under the Exchange Act. In the opinion of the management, they include all normal recurring adjustments necessary for a fair presentation of the financial statements. Results of operations reported for the interim periods are not necessarily indicative of results for the entire year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations relating to interim financial statements. The interim financial information should be read in con junction with Issuer Direct Corporation's (the Company's) 2008 audited financial statements filed on Form 10-K.</p> <p style="margin-top:0px; margin-bottom:8.867px">Certain reclassifications have been made to prior period amounts to conform to the current period presentation. All reclassifications have been applied consistently for the periods presented.</p> <p style="margin-top:0px; margin-bottom:8.867px"><b>Going Concern</b></p> <p style="margin-top:0px; margin-bottom:13.333px">Since inception and through December 31, 2008, we have incurred losses and at June 30, 2009, we have an accumulated deficit of $1,114,555, which raises substantial doubt about our ability to continue as a going concern. We have funded our operations and marketing efforts since inception through the issuance of debt and equity securities. Should we require additional funds and if we are unable to acquire such funds, our ability to continue as a going concern will be severely impacted. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</p> Basis of Presentation The unaudited interim balance sheet as of June 30, 2009 and statement of operations and cash flows for the periods ended June 30, 2009 false false No definition available. No authoritative reference available. false 4 1 us-gaap_SignificantAccountingPoliciesTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <p style="margin-top:0px; margin-bottom:8.867px"><b>Earnings per Share</b></p> <p style="margin-top:0px; margin-bottom:8.867px">Basic EPS excludes dilution and is computed by dividing income (loss) available to common stockholders by the weighted-average common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Diluted loss per share for the quarter and six months ending June 30, 2009, gives effect to the weighted average of 3,122 and 3,505, respectively, shares issuable upon conversion of the Company's shares of preferred stock (556 common shares for each of the preferred shares that were outstanding during the periods). As the fully diluted loss per share for the comparable 2008 periods was anti-dilutive, no effect was given to the preferred shares for the 2008 periods.</p> <p style="margin-top:0px; margin-bottom:8.867px"><b>Allowance for Doubtful Accounts</b></p> <p style="margin-top:0px; margin-bottom:8.867px">We provide an allowance for doubtful accounts, which is based upon a review of outstanding receivables as well as historical collection information. Credit is granted to most customers on an unsecured basis. In determining the amount of the allowance, management is required to make certain estimates and assumptions. During the three months and six months ended June 30, 2009, we recorded bad debt expense totaling $16,158 and $26,963, and permanently wrote off $25,141 of amounts previously reserved, net of recoveries. Accordingly, our allowance for doubtful accounts increased slightly from $43,764 at December 31, 2008 to $45,586 at June 30, 2009. There was no change in our allowance for doubtful accounts from December 31, 2007 to June 30, 2008.</p> <p style="margin-top:0px; margin-bottom:8.867px"><b>Use of Estimates</b></p> <p style="margin-top:0px; margin-bottom:8.867px">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the allowance for doubtful accounts and the valuation of goodwill and intangible assets. Actual results could differ from those estimates.</p> <p style="margin-top:0px; margin-bottom:8.867px"><b>Income Taxes</b></p> <p style="margin-top:0px; margin-bottom:8.867px">We follow an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred income tax assets to the amounts expected to be realized.</p> <p style="margin-top:0px; margin-bottom:8.867px">At the end of each interim period, we estimate the effective tax rate we expect to be applicable for the full fiscal year and this rate is applied to our results for the interim year to date period. Based upon our evaluation of possible future events and transactions, expected changes to our valuation allowance and utilization of our net operating loss carryforwards, we currently estimate our effective rate for the 2009 fiscal year will be 0%. </p> <p style="margin-top:0px; margin-bottom:8.867px">Our policy regarding the classification of interest and penalties is to classify them as income tax expense in the Company's financial statements, if applicable. </p> <p style="margin-top:0px; margin-bottom:8.867px"><b>Fair Value Measurements</b></p> <p style="margin-top:0px; margin-bottom:8.867px">On January 1, 2008 we adopted SFAS No. 157, <i>Fair Value Measurements,</i> for financial assets and liabilities. SFAS 157 applies to reported balances that are required or permitted to be measured at fair value under an existing accounting pronouncement. SFAS 157 emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability and establishes a fair value hierarchy. The fair value hierarchy consists of three levels of inputs that may be used to measure fair value: </p> <p style="margin-top:0px; margin-bottom:8.867px">As of June 30, 2009 and December 31, 2008, we do not have any accounts that are required to be or that we elected to measure at fair value.</p> <p style="margin-top:0px; margin-bottom:8.867px">In February 2008, the FASB issued FSP FAS 157-2, <i>Effective Date of FASB Statement 157</i>. FSP FAS 157-2 delayed the effective date of SFAS 157 for all nonfinancial assets and nonfinancial liabilities, except those that are recognized or disclosed at fair value in the financial statements on a recurring basis. For the instruments subject to the effective date delay under FSP FAS 157-2, we adopted the fair value provisions in this first quarter of 2009. Our assets and liabilities that will be subject to FAS 157 during 2009 include our intangible assets, consisting of goodwill, domain names and software, and our long-lived assets. Based on our evaluation of this statement, the adoption of FSP 157-2 did not have a significant impact on the determination or reporting of our financial results.</p> <p style="margin-top:0px; margin-bottom:8.867px">We believe that the fair value of our financial instruments, which consist of cash and cash equivalents, accounts receivable, accounts payable, and unsecured notes payable approximate their carrying amounts. The interest rates payable on our notes approximate market rates on similar borrowings at June 30, 2009.</p> <p style="margin-top:0px; margin-bottom:8.867px"><b>Recent Accounting Pronouncements</b></p> <p style="margin-top:0px; margin-bottom:8.867px">In June 2009, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards (SFAS) No. 168<i>, The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles-a Replacement of FASB Statement No. 162</i>, (SFAS 168). SFAS 168 establishes the FASB Accounting Standards Codification (Codification) as the single source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative U.S. GAAP for SEC registrants. SFAS 168 is effective for financial statements issued for interim and annual periods ending after September 15, 2009. When effective, the Codification will supersede all existing non-SEC accounting and reporting standards. All other non-grandfathered non-SEC accounting literature not included in the Codification will become non-authoritative. The Company does not believe the adoption of SFAS 168 will have a material impact on its results of operations or financial position.</p> <p style="margin-top:0px; margin-bottom:13.333px">The adoption of other recently issued accounting pronouncements did not have a material effect on our financial position or results from operations. We do not expect recently issued accounting pronouncements that are not yet effective will have a material effect on our financial position or results of operations upon adoption.</p> Earnings per Share Basic EPS excludes dilution and is computed by dividing income (loss) available to common stockholders by the weighted-average common shares false false No definition available. No authoritative reference available. false 5 1 us-gaap_LongTermDebtTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <p style="margin-top:0px; margin-bottom:8.867px">As of June 30, 2009 and December 31, 2008, we had unsecured notes payable outstanding totaling $25,000 and $64,828, respectively, as follows:</p> <table style="font-size:10pt" cellspacing="0" align="center"><tr style="font-size:0"><td width="4.4"></td><td width="16.667"></td><td width="6.667"></td><td width="63.333"></td><td width="3.333"></td><td width="16.667"></td><td width="6.667"></td><td width="63.333"></td><td width="3.333"></td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px"><b> </b></p> </td><td style="border-bottom:1.333px solid #000000" valign="bottom" width="70" colspan="3"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>June 30,</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2009</b></p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt"><b> </b></p> </td><td style="border-bottom:1.333px solid #000000" valign="bottom" width="70" colspan="3"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>December 31,</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2008</b></p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Unsecured Note Payable in connection with the asset purchase agreement in March 2007, with interest of 8%, which was fully paid on January 28, 2009. </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">--</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">35,000</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Unsecured Note Payable in connection with the July 2, 2007 acquisition of Bassett Press, with interest of 8%, due and payable monthly, due on July 17, 2009 and which was fully repaid in August 2009.</p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">25,000</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">29,828</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px"> </p> </td><td valign="bottom" width="63.333"><p style="margin:0px" align="right"></p> </td><td valign="bottom" width="3.333"><p style="margin:0px"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px"> </p> </td><td valign="bottom" width="63.333"><p style="margin:0px" align="right"></p> </td><td valign="bottom" width="3.333"><p style="margin:0px"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Less current portion</p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">25,000</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">64,828</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Total long-term notes payable- other</p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt;; font-size:8pt">$</p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">-</p> </td><td style="border-bottom:3px double #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">-</p> </td><td style="border-bottom:3px double #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> </table> <p style="margin:0px"><br /></p> <p style="margin-top:0px; margin-bottom:13.333px">On January 28, 2009, we entered into a settlement and release agreement ("Agreement") with the holder of the note payable that we issued in March 2007. Pursuant to the terms of the agreement, the holder agreed to accept $35,000 in full payment of principal and interest, which was paid in full on January 28, 2009. We recognized a gain on settlement of debt of approximately $16,900 as of December 31, 2008, when we reduced the carrying value of the debt pursuant to the settlement agreement.</p> As of June 30, 2009 and December 31, 2008, we had unsecured notes payable outstanding totaling $25,000 and $64,828, respectively, as follows: June false false No definition available. No authoritative reference available. false 6 1 us-gaap_RelatedPartyTransactionsDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <p style="margin-top:0px; margin-bottom:8.867px">As of June 30, 2009 and December 31, 2008, we had three unsecured related party notes payable outstanding, totaling $73,525 as follows:</p> <table style="font-size:10pt" cellspacing="0" align="center"><tr style="font-size:0"><td width="4.4"></td><td width="16.667"></td><td width="6.667"></td><td width="63.333"></td><td width="3.333"></td><td width="16.667"></td><td width="6.667"></td><td width="63.333"></td><td width="3.333"></td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px"><b> </b></p> </td><td style="border-bottom:1.333px solid #000000" valign="bottom" width="70" colspan="3"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>June 30,</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2009</b></p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt"><b> </b></p> </td><td style="border-bottom:1.333px solid #000000" valign="bottom" width="70" colspan="3"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>December 31,<br /> 2008</b></p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Note Payable to our Chief Executive Officer in the amount of $25,000 for various obligations the former company was party to, including former legal counsel, former transfer agent and tax obligations with the state of Delaware. The unsecured note carries interest in the amount of 8% per annum and was due on December 31, 2008 or upon completion of a financing agreement totaling $250,000. The note is in default at June 30, 2009, and the holder has the right to demand payment at any time. There are no penalties associated with the default.</p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">23,525</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">23,525</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> <tr><td valign="top" width="4.4"><p> </p></td><td valign="bottom" width="16.667"><p> </p></td><td valign="bottom" width="6.667"><p> </p></td><td valign="top" width="63.333"><p> </p></td><td valign="top" width="3.333"><p> </p></td><td valign="bottom" width="16.667"><p> </p></td><td valign="top" width="6.667"><p> </p></td><td valign="top" width="63.333"><p> </p></td><td valign="bottom" width="3.333"><p style="margin:0px"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Unsecured Note Payable to a Director of the Company in the amount of $25,000, with interest of 8%, due on receipt by the Company or its designated escrow agent of an aggregate of $1,000,000 in gross proceeds of the Private Placement.</p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right"> 25,000</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">25,000</p> </td><td valign="bottom" width="3.333"><p style="margin:0px"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt;; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Unsecured Note Payable to a Director of the Company in the amount of $25,000, with interest of 8%, due on receipt by the Company or its designated escrow agent of an aggregate of $1,000,000 in gross proceeds of the Private Placement.</p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right"> 25,000</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:1px solid #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">25,000</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> <tr><td valign="bottom" width="4.4"><p style="margin:0px; font-size:8pt">Total notes payable - related party</p> </td><td valign="bottom" width="16.667"><p style="margin:0px" align="right"> </p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">73,525</p> </td><td style="border-bottom:3px double #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="16.667"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="6.667"><p style="margin:0px; font-size:8pt">$</p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="63.333"><p style="margin:0px; font-size:8pt" align="right">73,525</p> </td><td style="border-bottom:3px double #FFFFFF" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td></tr> </table> As of June 30, 2009 and December 31, 2008, we had three unsecured related party notes payable outstanding, totaling $73,525 as follows: June 30, 2009 false false No definition available. No authoritative reference available. false 7 1 us-gaap_StockholdersEquityNoteDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <p style="margin-top:0px; margin-bottom:8.867px">During the six months ended June 30, 2009, we issued 150,000 shares of our common stock to an employee under the terms of an employment agreement, paid $6,750 to repurchase 2,250,000 shares from our former President shortly after his resignation, and issued 20,000 shares of common stock to redeem all obligations pursuant to two shares of preferred stock, as follows:</p> <table style="font-size:10pt" cellspacing="0" align="center"><tr style="font-size:0"><td width="534.733"></td><td width="3.333"></td><td width="3.333"></td><td width="69.133"></td><td width="4.467"></td></tr> <tr><td valign="bottom" width="534.733"><p style="margin:0px"> </p> </td><td valign="bottom" width="3.333"><p style="margin:0px"><b> </b></p> </td><td style="border-bottom:1.333px solid #000000" valign="bottom" width="72.467" colspan="2"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>Six Months</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>Ended</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>June 30,</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2009</b></p> </td><td valign="bottom" width="4.467"><p> </p></td></tr> <tr><td valign="bottom" width="534.733"><p style="margin:0px; font-size:8pt">Outstanding at January 1, 2009</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="69.133"><p style="margin:0px; font-size:8pt" align="right">18,834,717</p> </td><td valign="bottom" width="4.467"><p> </p></td></tr> <tr><td valign="bottom" width="534.733"><p style="margin:0px; font-size:8pt">Shares issued in settlement of obligation for services rendered in fiscal 2008 </p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="69.133"><p style="margin:0px; font-size:8pt" align="right">150,000</p> </td><td valign="bottom" width="4.467"><p> </p></td></tr> <tr><td valign="bottom" width="534.733"><p style="margin:0px; font-size:8pt">Repurchase of shares, subsequently retired</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td valign="bottom" width="69.133"><p style="margin:0px; font-size:8pt" align="right">(2,250,000</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="4.467"><p style="margin:0px; font-size:8pt">)</p> </td></tr> <tr><td valign="bottom" width="534.733"><p style="margin:0px; font-size:8pt">Shares issued to redeem preferred stock</p> </td><td valign="bottom" width="3.333"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="3.333"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="69.133"><p style="margin:0px; font-size:8pt" align="right">20,000</p> </td><td style="border-bottom:1px solid #FFFFFF" valign="bottom" width="4.467"><p> </p></td></tr> <tr><td valign="bottom" width="534.733"><p> </p></td><td valign="bottom" width="3.333"><p> </p></td><td valign="bottom" width="3.333"><p> </p></td><td valign="bottom" width="69.133"><p> </p></td><td valign="bottom" width="4.467"><p> </p></td></tr> <tr><td valign="bottom" width="534.733"><p style="margin:0px; font-size:8pt">Outstanding at June 30, 2009</p> </td><td valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt" align="right"> </p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="3.333"><p style="margin:0px; font-size:8pt"> </p> </td><td style="border-bottom:3px double #000000" valign="bottom" width="69.133"><p style="margin:0px; font-size:8pt" align="right">16,754,717</p> </td><td style="border-bottom:3px double #FFFFFF" valign="bottom" width="4.467"><p> </p></td></tr> </table> <p style="margin:0px"><br /></p> <p style="margin-top:0px; margin-bottom:8.867px">In February 2009, we issued 150,000 shares of our common stock in connection with an employment agreement with a former officer of Bassett Press. The fair market value of the shares totaled $25,000, or $0.17 per share, which represents the closing price on the date of the agreement. These shares were issued pursuant to the employment agreement. </p> <p style="margin-top:0px; margin-bottom:8.867px">In February, 2009, our former President, who remains on our Board of Directors, sold 2,250,000 shares from his beneficial holdings in a private transaction for $6,750 to the Company. The shares were retired, and we reduced paid-in capital by $4,500.</p> <p style="margin-top:0px; margin-bottom:7.8px">At June 30, 2009, we had five outstanding shares of Series A Preferred Stock. Although the Certificate of Designation of the rights, preferences and limitations of the Preferred Stock provides for dividends equal to eleven percent (11.0%) per year on the liquidation preference of $25,000 per share, we have not declared or accrued such dividends. These shares were issued by our predecessor company and the original documentation which would validate claims thereto is not available, and we are taking steps to retire the series. In April 2009, we issued 20,000 common shares to the holder of two preferred shares, for a value of $100 each, in settlement of the stated value and any potential claims to accumulated dividends thereon. Additionally, under Delaware law, dividends are an obligation only when declared, and the Board has not declared any dividends payable on the Series A Preferred Stock. </p> During the six months ended June 30, 2009, we issued 150,000 shares of our common stock to an employee under the terms of an employment agreement, paid $6,750 false false No definition available. No authoritative reference available. false 8 1 us-gaap_IntangibleAssetsDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <p style="margin-top:0px; margin-bottom:7.8px">Included in intangible assets is $50,000 of proprietary software of intellectual property acquired in July 2007, as part of the Basset Press acquisition, At the date of the acquisition and through the year ended December 31, 2008, we assigned an indefinite life to the proprietary software and included such software in our annual evaluation of impairment. During the first quarter of 2009, we reevaluated the useful life of the propriety software and have assigned a remaining estimated useful life of 6 years to such asset.</p> Included in intangible assets is $50,000 of proprietary software of intellectual property acquired in July 2007, as part of the Basset Press acquisition, At false false No definition available. No authoritative reference available. false 9 1 us-gaap_ConcentrationRiskDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <p style="margin-top:0px; margin-bottom:7.8px">For the three- and six-month periods ended June 30, 2009 and 2008, we earned revenues (as a percentage of total revenues) in the following categories:</p> <table style="font-size:10pt" cellspacing="0" align="center"><tr style="font-size:0"><td width="263.6"></td><td width="18.733"></td><td width="1.467"></td><td width="67.667"></td><td width="18.733"></td><td width="3.733"></td><td width="67.667"></td><td width="20.867"></td><td width="3.733"></td><td width="67.667"></td><td width="18.733"></td><td width="3.733"></td><td width="67.667"></td></tr> <tr><td valign="bottom" width="263.6"><p> </p></td><td valign="bottom" width="18.733"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="159.267" colspan="5"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>Three Months Ended<br /> June 30</b></p> </td><td valign="bottom" width="20.867"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="161.533" colspan="5"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>Six Months Ended</b></p> <p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>June 30</b></p> </td></tr> <tr><td style="border-bottom:1px solid #000000" valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Revenue Streams</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="1.467"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="67.667"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2009</b></p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="67.667"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2008</b></p> </td><td valign="bottom" width="20.867"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="67.667"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2009</b></p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td style="border-bottom:1px solid #000000" valign="bottom" width="67.667"><p style="line-height:10pt; margin:0px; font-size:8pt" align="center"><b>2008</b></p> </td></tr> <tr><td valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Compliance and reporting services</p> </td><td valign="bottom" width="18.733"><p style="font-size:8pt; margin:0px"> </p> </td><td valign="bottom" width="1.467"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">25.9%</p> </td><td valign="bottom" width="18.733"><p style="font-size:8pt; margin:0px"> </p> </td><td valign="bottom" width="3.733"><p style="font-size:8pt; margin:0px"> </p> </td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">41.2%</p> </td><td valign="bottom" width="20.867"><p style="font-size:8pt; margin:0px; font-family:Arial"> </p> </td><td valign="bottom" width="3.733"><p style="font-size:8pt; margin:0px"> </p> </td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">31.8%</p> </td><td valign="bottom" width="18.733"><p style="font-size:8pt; margin:0px"> </p> </td><td valign="bottom" width="3.733"><p style="font-size:8pt; margin:0px"> </p> </td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">49.3%</p> </td></tr> <tr><td valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Printing and financial communication</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="1.467"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">24.7%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">37.7%</p> </td><td valign="bottom" width="20.867"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">23.8%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">32.2%</p> </td></tr> <tr><td valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Fulfillment and distribution</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="1.467"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">18.9%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">17.8%</p> </td><td valign="bottom" width="20.867"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">23.0%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">15.4%</p> </td></tr> <tr><td valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Software licensing</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="1.467"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">8.3%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">3.3%</p> </td><td valign="bottom" width="20.867"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">6.6%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">3.1%</p> </td></tr> <tr><td valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Transfer agent services</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="1.467"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">22.2%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">- </p> </td><td valign="bottom" width="20.867"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">14.8%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">- </p> </td></tr> <tr><td valign="bottom" width="263.6"><p style="font-size:8pt; margin:0px">Total</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="1.467"><p> </p></td><td style="border-top:1.333px solid #000000; border-bottom:3px double #000000" valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">100.0%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td style="border-top:1.333px solid #000000; border-bottom:3px double #000000" valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">100.0%</p> </td><td valign="bottom" width="20.867"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td style="border-top:1.333px solid #000000; border-bottom:3px double #000000" valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">100.0%</p> </td><td valign="bottom" width="18.733"><p> </p></td><td valign="bottom" width="3.733"><p> </p></td><td style="border-top:1.333px solid #000000; border-bottom:3px double #000000" valign="bottom" width="67.667"><p style="font-size:8pt; margin:0px" align="right">100.0%</p> </td></tr> </table> <p style="margin:0px"><br /></p> <p style="margin-top:0px; margin-bottom:8.867px">One customer accounted for 43.1% of our operating revenues during the three- month period ended June 30, 2009. The same customer accounted for 42.5% of the operating revenues during the six-month period ended June 30, 2009. </p> <p style="margin-top:0px; margin-bottom:8.867px">One customer accounted for 11.6% of our operating revenues during the three-month period ended June 30, 2008. A different customer accounted for 9.9 % of our operating revenues during the six-month period ended June 30, 2008.</p> <p style="margin-top:0px; margin-bottom:8.867px">At June 30, 2009, three customers accounted for 44.9% (19.3%, 14.9%, and 10.7%) of our total accounts receivable. As of December 31, 2008, two customers comprised 55.3% (41.0% and 14.3%) of our total accounts receivable.</p> <p style="margin-top:0px; margin-bottom:8.867px">We do not believe we had any financial instruments that could have potentially subjected us to significant concentrations of credit risk. A portion of our revenues are paid at the beginning of the month via credit card or in advance by check, the remaining accounts receivable amounts are generally due within 30 days, none of which is collateralized.</p> For the three- and six-month periods ended June 30, 2009 and 2008, we earned revenues (as a percentage of total revenues) in the following categories: Three false false No definition available. No authoritative reference available. false 10 1 us-gaap_ScheduleOfSubsequentEventsTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <p style="margin-top:0px; margin-bottom:8.867px">We issued 100,000 shares of our common stock in July 2009 to a consultant in exchange for certain consulting services, with an estimated fair market value of $10,000, which is equal to the closing price of our common stock on the date of the issuance.</p> We issued 100,000 shares of our common stock in July 2009 to a consultant in exchange for certain consulting services, with an estimated fair market value of false false No definition available. No authoritative reference available. false false 1 9 false UnKnown UnKnown UnKnown false true XML 10 R6.xml IDEA: Entity Information 1.0.0.3 false Entity Information (USD $) false 1 $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 2 0 dei_EntityInformationLineItems dei false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false No definition available. false 3 1 dei_TradingSymbol dei false na duration normalizedstring No definition available. false false false false false false false false false 1 false false 0 0 ISDR ISDR false false No definition available. No authoritative reference available. false 4 1 dei_EntityRegistrantName dei false na duration normalizedstring No definition available. false false false false false false false false false 1 false false 0 0 Issuer Direct Corporation Issuer Direct Corporation false false No definition available. No authoritative reference available. false 5 1 dei_EntityCentralIndexKey dei false na duration na No definition available. false false false false false false false false false 1 false false 0 0 0000843006 0000843006 false false No definition available. No authoritative reference available. false 6 1 dei_CurrentFiscalYearEndDate dei false na duration monthday No definition available. false false false false false false false false false 1 false false 0 0 --12-31 --12-31 false false No definition available. No authoritative reference available. false 7 1 dei_EntityWellKnownSeasonedIssuer dei false na duration na No definition available. false false false false false false false false false 1 false false 0 0 No No false false No definition available. No authoritative reference available. false 8 1 dei_EntityVoluntaryFilers dei false na duration na No definition available. false false false false false false false false false 1 false false 0 0 Yes Yes false false No definition available. No authoritative reference available. false 9 1 dei_EntityCurrentReportingStatus dei false na duration na No definition available. false false false false false false false false false 1 false false 0 0 Yes Yes false false No definition available. No authoritative reference available. false 10 1 dei_EntityFilerCategory dei false na duration na No definition available. false false false false false false false false false 1 false false 0 0 Smaller Reporting Company Smaller Reporting Company false false No definition available. No authoritative reference available. false 11 1 dei_EntityCommonStockSharesOutstanding dei false na instant shares No definition available. false false false false false false false false false 1 false true 16754717 16754717 false false No definition available. No authoritative reference available. false 12 1 dei_EntityPublicFloat dei false credit instant monetary No definition available. false false false false false false false false false 1 true true 359606 359606 false false No definition available. No authoritative reference available. false false 1 11 false NoRounding NoRounding UnKnown false true XML 11 R5.xml IDEA: Document Information 1.0.0.3 false Document Information false 1 $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 2 0 dei_DocumentInformationLineItems dei false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false No definition available. false 3 1 dei_DocumentType dei false na duration na No definition available. false false false false false false false false false 1 false false 0 0 10-Q 10-Q false false No definition available. No authoritative reference available. false 4 1 dei_AmendmentFlag dei false na duration na No definition available. false false false false false false false false false 1 false false 0 0 true true false false No definition available. No authoritative reference available. false 5 1 dei_AmendmentDescription dei false na duration string No definition available. false false false false false false false false false 1 false false 0 0 Amendment to period ended 2009-06-30 Amendment to period ended 2009-06-30 false false No definition available. No authoritative reference available. false 6 1 dei_DocumentPeriodEndDate dei false na duration date No definition available. false false false false false false false false false 1 false false 0 0 2009-06-30 2009-06-30 false false No definition available. No authoritative reference available. false false 1 5 false UnKnown UnKnown UnKnown false true XML 12 defnref.xml IDEA: XBRL DOCUMENT No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. XML 13 R1.xml IDEA: Statement of Financial Position (Consolidated) 1.0.0.3 false Statement of Financial Position (Consolidated) (USD $) false 1 $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 false 2 $ false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 3 1 us-gaap_AssetsAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false No definition available. false 4 2 us-gaap_CashAndCashEquivalentsAtCarryingValue us-gaap true debit instant monetary No definition available. false false false false false false false false false 1 true true 185380 185380 false false 2 true true 50367 50367 false false No definition available. No authoritative reference available. false 5 2 us-gaap_AccountsReceivableNetCurrent us-gaap true debit instant monetary No definition available. false false false false false false false false false 1 false true 261281 261281 false false 2 false true 165681 165681 false false No definition available. No authoritative reference available. false 6 2 us-gaap_OtherRestrictedAssetsCurrent us-gaap true debit instant monetary No definition available. false false false false false false false false false 1 false true 6242 6242 false false 2 false true 6242 6242 false false No definition available. No authoritative reference available. false 7 2 us-gaap_OtherAssetsCurrent us-gaap true debit instant monetary No definition available. false false false false false false false false false 1 false true 26766 26766 false false 2 false true 2855 2855 false false No definition available. No authoritative reference available. false 8 2 us-gaap_AssetsCurrent us-gaap true debit instant monetary No definition available. false false false false false false false false false 1 false true 479669.0 479669.0 false false 2 false true 225145.0 225145.0 false false No definition available. No authoritative reference available. true 9 2 us-gaap_FurnitureAndFixturesGross us-gaap true debit instant monetary No definition available. false false false false false false false false false 1 false true 22051 22051 false false 2 false true 15987 15987 false false No definition available. No authoritative reference available. false 10 2 us-gaap_OtherAssetsNoncurrent us-gaap true debit instant monetary No definition available. false false false false false false false false false 1 false true 0 0 false false 2 false true 2000 2000 false false No definition available. No authoritative reference available. false 11 2 us-gaap_IntangibleAssetsNetExcludingGoodwill us-gaap true debit instant monetary No definition available. false false false false false false false false false 1 false true 134029 134029 false false 2 false true 147695 147695 false false No definition available. No authoritative reference available. false 12 2 us-gaap_Assets us-gaap true debit instant monetary No definition available. false false false false false false false false false 1 false true 635749.00 635749.00 false false 2 false true 390827.00 390827.00 false false No definition available. No authoritative reference available. true 13 1 us-gaap_LiabilitiesAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false No definition available. false 14 2 us-gaap_AccountsPayableCurrent us-gaap true credit instant monetary No definition available. false false false false false false false false false 1 false true 80255 80255 false false 2 false true 143560 143560 false false No definition available. No authoritative reference available. false 15 2 us-gaap_AccruedLiabilitiesCurrent us-gaap true credit instant monetary No definition available. false false false false false false false false false 1 false true 97663 97663 false false 2 false true 128050 128050 false false No definition available. No authoritative reference available. false 16 2 us-gaap_NotesPayableRelatedPartiesCurrent us-gaap true credit instant monetary No definition available. false false false false false false false false false 1 false true 73525 73525 false false 2 false true 73525 73525 false false No definition available. No authoritative reference available. false 17 2 us-gaap_OtherNotesPayableCurrent us-gaap true credit instant monetary No definition available. false false false false false false false false false 1 false true 25000 25000 false false 2 false true 64828 64828 false false No definition available. No authoritative reference available. false 18 2 us-gaap_Liabilities us-gaap true credit instant monetary No definition available. false false false false false false false false false 1 false true 276443.0 276443.0 false false 2 false true 409963.0 409963.0 false false No definition available. No authoritative reference available. true 19 1 us-gaap_StockholdersEquityAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false No definition available. false 20 2 us-gaap_PreferredStockValue us-gaap true credit instant monetary No definition available. false false false false false false false false false 1 false true 5 5 false false 2 false true 7 7 false false No definition available. No authoritative reference available. false 21 2 us-gaap_CommonStockValue us-gaap true credit instant monetary No definition available. false false false false false false false false false 1 false true 16754 16754 false false 2 false true 18834 18834 false false No definition available. No authoritative reference available. false 22 2 us-gaap_AdditionalPaidInCapital us-gaap true credit instant monetary No definition available. false false false false false false false false false 1 false true 1461338 1461338 false false 2 false true 1441006 1441006 false false No definition available. No authoritative reference available. false 23 2 us-gaap_TreasuryStockValue us-gaap true debit instant monetary No definition available. false false false false false false false false false 1 false true 4236 4236 false false 2 false true 4236 4236 false false No definition available. No authoritative reference available. false 24 2 us-gaap_RetainedEarningsAccumulatedDeficit us-gaap true credit instant monetary No definition available. false false false false false false false false false 1 false true -1114555 -1114555 false false 2 false true -1474747 -1474747 false false No definition available. No authoritative reference available. false 25 2 us-gaap_StockholdersEquity us-gaap true credit instant monetary No definition available. false false false false false false false false false 1 false true 359306.0 359306.0 false false 2 false true -19136.0 -19136.0 false false No definition available. No authoritative reference available. true 26 1 us-gaap_LiabilitiesAndStockholdersEquityAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false No definition available. false 27 2 us-gaap_LiabilitiesAndStockholdersEquity us-gaap true credit instant monetary No definition available. false false false false false false false false false 1 true true 635749.00 635749.00 false false 2 true true 390827.00 390827.00 false false No definition available. No authoritative reference available. true false 2 25 false NoRounding UnKnown UnKnown false true XML 14 R2.xml IDEA: Statement of Income 1.0.0.3 false Statement of Income (USD $) false 1 $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 false 2 $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 false 3 $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 false 4 $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 3 1 us-gaap_RevenuesAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false No definition available. false 4 2 isdr_ComplianceReportingServices isdr false credit duration monetary No definition available. false false false false false false false false false 1 true true 198160 198160 false false 2 true true 185610 185610 false false 3 true true 394020 394020 false false 4 true true 367074 367074 false false No definition available. No authoritative reference available. false 5 2 isdr_PrintingFinancialCommunication isdr false credit duration monetary No definition available. false false false false false false false false false 1 false true 189520 189520 false false 2 false true 169898 169898 false false 3 false true 294607 294607 false false 4 false true 239661 239661 false false No definition available. No authoritative reference available. false 6 2 isdr_FullfillmentAndDistribution isdr false credit duration monetary No definition available. false false false false false false false false false 1 false true 144935 144935 false false 2 false true 80391 80391 false false 3 false true 285039 285039 false false 4 false true 114614 114614 false false No definition available. No authoritative reference available. false 7 2 isdr_SoftwareLicensing isdr false credit duration monetary No definition available. false false false false false false false false false 1 false true 63487 63487 false false 2 false true 14900 14900 false false 3 false true 80919 80919 false false 4 false true 22800 22800 false false No definition available. No authoritative reference available. false 8 2 isdr_TransferAgentServices isdr false credit duration monetary No definition available. false false false false false false false false false 1 false true 169706 169706 false false 2 false true 0 0 false false 3 false true 183756 183756 false false 4 false true 0 0 false false No definition available. No authoritative reference available. false 9 2 us-gaap_Revenues us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 765808.0 765808.0 false false 2 false true 450799.0 450799.0 false false 3 false true 1238341.0 1238341.0 false false 4 false true 744149.0 744149.0 false false No definition available. No authoritative reference available. true 10 1 us-gaap_CostOfServicesAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false No definition available. false 11 2 us-gaap_CostOfServices us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 271041 271041 false false 2 false true 284195 284195 false false 3 false true 485041 485041 false false 4 false true 421917 421917 false false No definition available. No authoritative reference available. true 12 1 us-gaap_GrossProfitAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false No definition available. false 13 2 us-gaap_GrossProfit us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 494767.00 494767.00 false false 2 false true 166604.00 166604.00 false false 3 false true 753300.00 753300.00 false false 4 false true 322232.00 322232.00 false false No definition available. No authoritative reference available. true 14 1 us-gaap_OperatingExpensesAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false No definition available. false 15 2 us-gaap_GeneralAndAdministrativeExpense us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 138527 138527 false false 2 false true 403881 403881 false false 3 false true 240125 240125 false false 4 false true 864756 864756 false false No definition available. No authoritative reference available. false 16 2 us-gaap_SellingAndMarketingExpense us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 77391 77391 false false 2 false true 112768 112768 false false 3 false true 132381 132381 false false 4 false true 163543 163543 false false No definition available. No authoritative reference available. false 17 2 us-gaap_DepreciationAndAmortization us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 9932 9932 false false 2 false true 4831 4831 false false 3 false true 19264 19264 false false 4 false true 9674 9674 false false No definition available. No authoritative reference available. false 18 2 us-gaap_OperatingCostsAndExpenses us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 225850.0 225850.0 false false 2 false true 521480.0 521480.0 false false 3 false true 391770.0 391770.0 false false 4 false true 1037973.0 1037973.0 false false No definition available. No authoritative reference available. true 19 1 us-gaap_OperatingIncomeLossAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false No definition available. false 20 2 us-gaap_OperatingIncomeLoss us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 false true 268917.000 268917.000 false false 2 false true -354876.000 -354876.000 false false 3 false true 361530.000 361530.000 false false 4 false true -715741.000 -715741.000 false false No definition available. No authoritative reference available. true 21 1 us-gaap_InterestExpenseAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false No definition available. false 22 2 us-gaap_InterestExpense us-gaap true debit duration monetary No definition available. false false false false false false false false false 1 false true 65 65 false false 2 false true -22051 -22051 false false 3 false true 1336 1336 false false 4 false true 5624 5624 false false No definition available. No authoritative reference available. true 23 1 us-gaap_NetIncomeLossAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false No definition available. false 24 2 us-gaap_NetIncomeLoss us-gaap true credit duration monetary No definition available. false false false false false false false false false 1 true true 268852.0000 268852.0000 false false 2 true true -332825.0000 -332825.0000 false false 3 true true 360194.0000 360194.0000 false false 4 true true -721365.0000 -721365.0000 false false No definition available. No authoritative reference available. true 25 1 us-gaap_EarningsPerShareAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false No definition available. false 26 2 us-gaap_EarningsPerShareBasic us-gaap true na duration decimal No definition available. false false false false false false false false false 1 false true 0.02 0.02 false false 2 false true -0.02 -0.02 false false 3 false true 0.02 0.02 false false 4 false true -0.04 -0.04 false false No definition available. No authoritative reference available. false 27 2 us-gaap_EarningsPerShareDiluted us-gaap true na duration decimal No definition available. false false false false false false false false false 1 false true 0.02 0.02 false false 2 false true -0.02 -0.02 false false 3 false true 0.02 0.02 false false 4 false true -0.04 -0.04 false false No definition available. No authoritative reference available. false 28 1 us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract us-gaap true na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false 2 false false 0 0 false false 3 false false 0 0 false false 4 false false 0 0 false false No definition available. false 29 2 us-gaap_WeightedAverageNumberOfSharesOutstandingBasic us-gaap true na duration shares No definition available. false false false false false false false false false 1 false true 16748783 16748783 false false 2 false true 17243658 17243658 false false 3 false true 16187857 16187857 false false 4 false true 17028250 17028250 false false No definition available. No authoritative reference available. false 30 2 us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding us-gaap true na duration shares No definition available. false false false false false false false false false 1 false true 16751905 16751905 false false 2 false true 17243658 17243658 false false 3 false true 16191362 16191362 false false 4 false true 17028250 17028250 false false No definition available. No authoritative reference available. false false 4 28 false NoRounding NoRounding UnKnown false true XML 15 FilingSummary.xml IDEA: XBRL DOCUMENT 1.0.0.3 true Sheet 0001 - Statement - Statement of Financial Position (Consolidated) Statement of Financial Position (Consolidated) R1.xml false Sheet 0002 - Statement - Statement of Income Statement of Income R2.xml false Sheet 0003 - Statement - Statement of Cash Flows Statement of Cash Flows R3.xml false Notes 0010 - Disclosure - Notes to Financial Statements Notes to Financial Statements R4.xml false Sheet 0098 - Disclosure - Document Information Document Information R5.xml false Sheet 0099 - Disclosure - Entity Information Entity Information R6.xml false Book All Reports All Reports 1 8 0 0 2 76 false false as-of-2008-12-31 21 from-2008-04-01-to-2008-06-30 19 as-of-2007-12-31 1 as-of-2008-06-30 1 from-2008-01-01-to-2008-06-30 33 from-2009-01-01-to-2009-06-30 49 from-2009-04-01-to-2009-06-30 23 as-of-2009-06-30 23 true true EXCEL 16 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls MT,\1X*&Q&N$`````````````````````/@`#`/[_"0`&```````````````! M`````0``````````$```5P````$```#^____``````````#_____________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M_______________________]_____O___P,````$````!0````8````'```` M"`````D````*````"P````P````-````#@````\````0````$0```!(````3 M````%````!4````6````%P```!@````9````&@```!L````<````'0```!X` M```?````(````"$````B````(P```"0````E````)@```"<````H````*0`` M`"H````K````+````"T````N````+P```#`````Q````,@```#,````T```` M-0```#8````W````.````#D````Z````.P```#P````]````/@```#\```!` M````00```$(```!#````1````$4```!&````1P```$@```!)````2@```$L` M``!,````30```$X```!/````4````%$```!2````4P```%0```!5````5@`` M`/[____^_____O______________________________________________ M____________________________________________________________ M____________________________________________________________ M_____________________________________________U(`;P!O`'0`(`!% M`&X`=`!R`'D````````````````````````````````````````````````` M```````````6``4`__________\"```````````````````````````````` M`````````.!L5=+88\H!6````$`!````````5P!O`'(`:P!B`&\`;P!K```` M```````````````````````````````````````````````````````````` M`!(``@#_______________\````````````````````````````````````` M```````````"````X:D````````%`%,`=0!M`&T`80!R`'D`20!N`&8`;P!R M`&T`80!T`&D`;P!N````````````````````````````````````*``"`0$` M```#````_____P`````````````````````````````````````````````` M``````"```````````4`1`!O`&,`=0!M`&4`;@!T`%,`=0!M`&T`80!R`'D` M20!N`&8`;P!R`&T`80!T`&D`;P!N```````````````X``(`____________ M____`````````````````````````````````````````````````@```*`` M````````"0@0```&!0!&&,T'P8````8"``#A``(`L`3!``(```#B````7`!P M``<``'-S:'AB!#<`!0`9``$B`"0`(@`C`"P` M(P`C`#``7P`I`#L`7``H`"``(@`D`"(`(P`L`",`(P`P`%P`(``I`!X$00`& M`!X``2(`)``B`",`+``C`",`,`!?`"D`.P!;`%(`90!D`%T`7``H`"``(@`D M`"(`(P`L`",`(P`P`%P`(``I`!X$0P`'`!\``2(`)``B`",`+``C`",`,``N M`#``,`!?`"D`.P!<`"@`(``B`"0`(@`C`"P`(P`C`#``+@`P`#``7``@`"D` M'@1-``@`)``!(@`D`"(`(P`L`",`(P`P`"X`,``P`%\`*0`[`%L`4@!E`&0` M70!<`"@`(``B`"0`(@`C`"P`(P`C`#``+@`P`#``7``@`"D`'@1Q`"H`-@`! M7P`H`"(`)``B`"H`(``C`"P`(P`C`#``7P`I`#L`7P`H`"(`)``B`"H`(`!< M`"@`(``C`"P`(P`C`#``7``@`"D`.P!?`"@`(@`D`"(`*@`@`"(`+0`B`%\` M*0`[`%\`*``@`$``7P`@`"D`'@1?`"D`+0`!7P`H`"H`(``C`"P`(P`C`#`` M7P`I`#L`7P`H`"H`(`!<`"@`(``C`"P`(P`C`#``7``@`"D`.P!?`"@`*@`@ M`"(`+0`B`%\`*0`[`%\`*``@`$``7P`@`"D`'@2!`"P`/@`!7P`H`"(`)``B M`"H`(``C`"P`(P`C`#``+@`P`#``7P`I`#L`7P`H`"(`)``B`"H`(`!<`"@` M(``C`"P`(P`C`#``+@`P`#``7``@`"D`.P!?`"@`(@`D`"(`*@`@`"(`+0`B M`#\`/P!?`"D`.P!?`"@`(`!``%\`(``I`!X$;P`K`#4``5\`*``J`"``(P`L M`",`(P`P`"X`,``P`%\`*0`[`%\`*``J`"``7``H`"``(P`L`",`(P`P`"X` M,``P`%P`(``I`#L`7P`H`"H`(``B`"T`(@`_`#\`7P`I`#L`7P`H`"``0`!? M`"``*0`>!",`I``/``$D`",`+``C`",`,``[`"@`)``C`"P`(P`C`#``*0`> M!!\`I0`-``$C`"P`(P`C`#``.P`H`",`+``C`",`,``I`!X$*P"F`!,``2,` M+``C`",`,``N`",`(P`[`"@`(P`L`",`(P`P`"X`(P`C`"D`X``4``````#U M_R```````````````,`@X``4``$```#U_R```/0``````````$$@X``4``$` M``#U_R```/0``````````$$@X``4``(```#U_R```/0``````````$$@X``4 M``(```#U_R```/0``````````$$@X``4``````#U_R```/0``````````$$@ MX``4``````#U_R```/0``````````$$@X``4``````#U_R```/0````````` M`$$@X``4``````#U_R```/0``````````$$@X``4``````#U_R```/0````` M`````$$@X``4``````#U_R```/0``````````$$@X``4``````#U_R```/0` M`````````$$@X``4``````#U_R```/0``````````$$@X``4``````#U_R`` M`/0``````````$$@X``4``````#U_R```/0``````````$$@X``4```````! M`"```````````````,`@X``4``$`*P#U_R```/@``````````$$@X``4``$` M*0#U_R```/@``````````$$@X``4``$`+`#U_R```/@``````````$$@X``4 M``$`*@#U_R```/@``````````$$@X``4``$`"0#U_R```/@``````````$$@ MX``4``4````!`"````@``````````,`@X``4``4````!`"@``!@````````` M`,`@X``4``4````!`"H``!@``````````,`@X``4```````!`"@``!`````` M`````,`@X``4````I``!`"````0``````````,`@X``4````I0`!`"````0` M`````````,`@X``4``8`I0`!`"````P``````````,`@X``4``8`I``!`"`` M``P``````````,`@X``4````I@`!`"````0``````````,`@X``4```````) M`"```````````````,`@X``4```````)`"@``!```````````,`@X``4```` M```)``@``!```````````,`@DP($``"``/^3`@0`$(`#_Y,"!``1@`;_DP($ M`!*`!/^3`@0`$X`'_Y,"!``4@`7_8`$"````A0!&`"V*`````!\!4P!T`&$` M=`!E`&T`90!N`'0`(`!O`&8`(`!&`&D`;@!A`&X`8P!I`&$`;``@`%``;P!S M`&D`=`!I`&\`;@"%`"X`.)$`````$P%3`'0`80!T`&4`;0!E`&X`=``@`&\` M9@`@`$D`;@!C`&\`;0!E`(4`-@"-F0`````7`5,`=`!A`'0`90!M`&4`;@!T M`"``;P!F`"``0P!A`',`:``@`$8`;`!O`'<`@!A`'0`:0!O`&X`(`!A M`&X`9``@`&D`;0!P`&$`:0!R`&T`90!N`'0`(`!O`&8`(``D`#$`.``T`"P` M,0`V`#<`(`!A`&X`9``@`"0`,0`W`#``+``U`#``,``L`"``<@!E`',`<`!E M`&,`=`!I`'8`90!L`'D`*0`,``%4`&\`=`!A`&P`(`!A`',`0`N`!H``4$`9`!D`&D` M=`!I`&\`;@!A`&P`(`!P`&$`:0!D`"T`:0!N`"``8P!A`'``:0!T`&$`;``C M``%4`'(`90!A`',`=0!R`'D`(`!S`'0`;P!C`&L`(`!A`'0`(`!C`&\`0`;``%3`'0`80!T`&4`;0!E M`&X`=``@`&\`9@`@`$D`;@!C`&\`;0!E`"``*`!5`%,`1``@`"0`*0`?``$S M`"``30!O`&X`=`!H`',`(`!%`&X`9`!E`&0`#0`*`$H`=0!N`"X`(``S`#`` M+``@`#(`,``P`#D`#0`*`!\``3,`(`!-`&\`;@!T`&@``!P`&4`;@!S`&4``!P`&4`;@!S`&4`@!A`'0`:0!O`&X`(@`!5`!O`'0`80!L M`"``;P!P`&4`<@!A`'0`:0!N`&<`(`!C`&\``!P`&4`;@!S`&4``!P`&4`;@!S`&4`(``H`&D`;@!C`&\`;0!E`"D`$0`!3@!E`'0`(`!) M`&X`8P!O`&T`90`@`"@`;`!O`',``!C`&@` M80!N`&<`90`@`$$`8P!T`"X`(`!)`&X`(`!T`&@`90`@`&\`<`!I`&X`:0!O M`&X`(`!O`&8`(`!T`&@`90`@`&T`80!N`&$`9P!E`&T`90!N`'0`+``@`'0` M:`!E`'D`(`!I`&X`8P!L`'4`9`!E`"``80!L`&P`(`!N`&\`<@!M`&$`;``@ M`'(`90!C`'4`<@!R`&D`;@!G`"``80!D`&H`=0!S`'0`;0!E`&X`=`!S`"`` M;@!E`&,`90!S`',`80!R`'D`(`!F`&\`<@`@`&$`(`!F`&$`:0!R`"``<`!R M`&4`0`G`',`*0`@ M`#(`,``P`#@`(`!A`'4`9`!I`'0`90!D`"``9@!I`&X`80!N`&,`:0!A`&P` M(`!S`'0`80!T`&4`;0!E`&X`=`!S`"``9@!I`&P`90!D`"``;P!N`"``1@!O M`'(`;0`@`#$`,``M`$L`+@`@``T`#0!#`&4`<@!T`&$`:0!N`"``<@!E`&,` M;`!A`',`0`@`',`90!C`'4`<@!I`'0`:0!E`',`+@`@`%,` M:`!O`'4`;`!D`"``=P!E`"``<@!E`'$`=0!I`'(`90`@`&$`9`!D`&D`=`!I M`&\`;@!A`&P`(`!F`'4`;@!D`',`(`!A`&X`9``@`&D`9@`@`'<`90`@`&$` M<@!E`"``=0!N`&$`8@!L`&4`(`!T`&\`(`!A`&,`<0!U`&D`<@!E`"``0`@`&\`9@`@`%,`:0!G`&X`:0!F`&D`8P!A`&X`=``@`$$` M8P!C`&\`=0!N`'0`:0!N`&<`(`!0`&\`;`!I`&,`:0!E`',`@`P!#0`-`$4` M80!R`&X`:0!N`&<`0`@`&0`:0!L`'4`=`!E`&0`(`!L`&\`0`@`'(`90!S`&4`<@!V`&4`9``L`"``;@!E`'0`(`!O`&8`(`!R`&4`8P!O M`'8`90!R`&D`90!S`"X`(`!!`&,`8P!O`'(`9`!I`&X`9P!L`'D`+``@`&\` M=0!R`"``80!L`&P`;P!W`&$`;@!C`&4`(`!F`&\`<@`@`&0`;P!U`&(`=`!F M`'4`;``@`&$`8P!C`&\`=0!N`'0`0`@`&$`8P!C`&4`<`!T`&4`9``@ M`&D`;@`@`'0`:`!E`"``50!N`&D`=`!E`&0`(`!3`'0`80!T`&4``!P M`&4`;@!S`&4```@`&$`0`L`"``=`!O`"``<@!E`&0`=0!C`&4`(`!D`&4`9@!E`'(`<@!E`&0`(`!I M`&X`8P!O`&T`90`@`'0`80!X`"``80!S`',`90!T`',`(`!T`&\`(`!T`&@` M90`@`&$`;0!O`'4`;@!T`',`(`!E`'@`<`!E`&,`=`!E`&0`(`!T`&\`(`!B M`&4`(`!R`&4`80!L`&D`>@!E`&0`+@`@``T`#0!!`'0`(`!T`&@`90`@`&4` M;@!D`"``;P!F`"``90!A`&,`:``@`&D`;@!T`&4`<@!I`&T`(`!P`&4`<@!I M`&\`9``L`"``=P!E`"``90!S`'0`:0!M`&$`=`!E`"``=`!H`&4`(`!E`&8` M9@!E`&,`=`!I`'8`90`@`'0`80!X`"``<@!A`'0`90`@`'<`90`@`&4`>`!P M`&4`8P!T`"``=`!O`"``8@!E`"``80!P`'``;`!I`&,`80!B`&P`90`@`&8` M;P!R`"``=`!H`&4`(`!F`'4`;`!L`"``9@!I`',`8P!A`&P`(`!Y`&4`80!R M`"``80!N`&0`(`!T`&@`:0!S`"``<@!A`'0`90`@`&D`@!A`'0`'``!3@!O`'0`90`@`#,`+@`@`$X`;P!T`&4`0`@`'``80!I`&0`(`!O`&X`(`!*`&$`;@!U M`&$`<@!Y`"``,@`X`"P`(``R`#``,``Y`"X`(``@``D`#0`-``T`)``@``D` M#0`-`"T`+0`@``D`#0`-`"0`(``)``T`#0`S`#4`+``P`#``,``@``D`#0`- M`%4`;@!S`&4`8P!U`'(`90!D`"``3@!O`'0`90`@`%``80!Y`&$`8@!L`&4` M(`!I`&X`(`!C`&\`;@!N`&4`8P!T`&D`;P!N`"``=P!I`'0`:``@`'0`:`!E M`"``2@!U`&P`>0`@`#(`+``@`#(`,``P`#<`(`!A`&,`<0!U`&D`0`@`#$`-P`L`"``,@`P`#``.0`@`&$` M;@!D`"``=P!H`&D`8P!H`"``=P!A`',`(`!F`'4`;`!L`'D`(`!R`&4`<`!A M`&D`9``@`&D`;@`@`$$`=0!G`'4`0!M`&4`;@!T`"``;P!F`"``<`!R`&D`;@!C M`&D`<`!A`&P`(`!A`&X`9``@`&D`;@!T`&4`<@!E`',`=``L`"``=P!H`&D` M8P!H`"``=P!A`',`(`!P`&$`:0!D`"``:0!N`"``9@!U`&P`;``@`&\`;@`@ M`$H`80!N`'4`80!R`'D`(``R`#@`+``@`#(`,``P`#D`+@`@`%<`90`@`'(` M90!C`&\`9P!N`&D`>@!E`&0`(`!A`"``9P!A`&D`;@`@`&\`;@`@`',`90!T M`'0`;`!E`&T`90!N`'0`(`!O`&8`(`!D`&4`8@!T`"``;P!F`"``80!P`'`` M<@!O`'@`:0!M`&$`=`!E`&P`>0`@`"0`,0`V`"P`.0`P`#``(`!A`',`(`!O M`&8`(`!$`&4`8P!E`&T`8@!E`'(`(``S`#$`+``@`#(`,``P`#@`+``@`'<` M:`!E`&X`(`!W`&4`(`!R`&4`9`!U`&,`90!D`"``=`!H`&4`(`!C`&$`<@!R M`'D`:0!N`&<`(`!V`&$`;`!U`&4`(`!O`&8`(`!T`&@`90`@`&0`90!B`'0` M(`!P`'4`<@!S`'4`80!N`'0`(`!T`&\`(`!T`&@`90`@`',`90!T`'0`;`!E M`&T`90!N`'0`(`!A`&<`<@!E`&4`;0!E`&X`=``N`"0``4X`;P!T`&4`(``T M`"X`(`!.`&\`=`!E`',`(`!P`&$`>0!A`&(`;`!E`"T`(`!R`&4`;`!A`'0` M90!D`"``<`!A`'(`=`!Y`$T%`0T`#0!!`',`(`!O`&8`(`!*`'4`;@!E`"`` M,P`P`"P`(``R`#``,``Y`"``80!N`&0`(`!$`&4`8P!E`&T`8@!E`'(`(``S M`#$`+``@`#(`,``P`#@`+``@`'<`90`@`&@`80!D`"``=`!H`'(`90!E`"`` M=0!N`',`90!C`'4`<@!E`&0`(`!R`&4`;`!A`'0`90!D`"``<`!A`'(`=`!Y M`"``;@!O`'0`90!S`"``<`!A`'D`80!B`&P`90`@`&\`=0!T`',`=`!A`&X` M9`!I`&X`9P`L`"``=`!O`'0`80!L`&D`;@!G`"``)``W`#,`+``U`#(`-0`@ M`&$`0`@`'<`80!S`"``<`!A`'(`=`!Y`"``=`!O M`"P`(`!I`&X`8P!L`'4`9`!I`&X`9P`@`&8`;P!R`&T`90!R`"``;`!E`&<` M80!L`"``8P!O`'4`;@!S`&4`;``L`"``9@!O`'(`;0!E`'(`(`!T`'(`80!N M`',`9@!E`'(`(`!A`&<`90!N`'0`(`!A`&X`9``@`'0`80!X`"``;P!B`&P` M:0!G`&$`=`!I`&\`;@!S`"``=P!I`'0`:``@`'0`:`!E`"``0!A`&(`;`!E`"``=`!O`"``80`@`$0`:0!R`&4`8P!T`&\`<@`@`&\`9@`@ M`'0`:`!E`"``0P!O`&T`<`!A`&X`>0`@`&D`;@`@`'0`:`!E`"``80!M`&\` M=0!N`'0`(`!O`&8`(``D`#(`-0`L`#``,``P`"P`(`!W`&D`=`!H`"``:0!N M`'0`90!R`&4`0`@`'0`:`!E`"``0P!O`&T`<`!A`&X`>0`@`&\`<@`@`&D`=`!S`"``9`!E M`',`:0!G`&X`80!T`&4`9``@`&4`0!A`&(`;`!E`"``+0`@`'(`90!L`&$`=`!E`&0`(`!P`&$`<@!T`'D` M(``)``T`#0`-`"0`(``)``T`#0`W`#,`+``U`#(`-0`@``D`#0`-`"0`(``) M``T`#0`W`#,`+``U`#(`-0`@``D`#0`-`"``(``@`"``*``!3@!O`'0`90`@ M`#4`+@`@`%``<@!E`&8`90!R`'(`90!D`"``0!E`&4`(`!U`&X`9`!E`'(`(`!T`&@`90`@`'0`90!R`&T`0`@`&$`9@!T`&4`<@`@`&@` M:0!S`"``<@!E`',`:0!G`&X`80!T`&D`;P!N`"P`(`!A`&X`9``@`&D`0`@ M`#$`+``@`#(`,``P`#D`(``)``T`#0`Q`#@`+``X`#,`-``L`#<`,0`W`"`` M"0`-``T`4P!H`&$`<@!E`',`(`!I`',`0`@`#(`,``P`#D`+``@`'<`90`@`&D`0`@`'`` M;P!T`&4`;@!T`&D`80!L`"``8P!L`&$`:0!M`',`(`!T`&\`(`!A`&,`8P!U M`&T`=0!L`&$`=`!E`&0`(`!D`&D`=@!I`&0`90!N`&0`0`@`&0`:0!V`&D`9`!E`&X`9`!S`"``<`!A`'D` M80!B`&P`90`@`&\`;@`@`'0`:`!E`"``4P!E`'(`:0!E`',`(`!!`"``4`!R M`&4`9@!E`'(`<@!E`&0`(`!3`'0`;P!C`&L`+@`@`!D``4X`;P!T`&4`(``V M`"X`(`!)`&X`=`!A`&X`9P!I`&(`;`!E`"``00!S`',`90!T`',`#P(!#0`- M`$D`;@!C`&P`=0!D`&4`9``@`&D`;@`@`&D`;@!T`&$`;@!G`&D`8@!L`&4` M(`!A`',`0`@ M`&$`8P!Q`'4`:0!R`&4`9``@`&D`;@`@`$H`=0!L`'D`(``R`#``,``W`"P` M(`!A`',`(`!P`&$`<@!T`"``;P!F`"``=`!H`&4`(`!"`&$`0!E`&$`<@!S`"``=`!O`"``0!M`&(`;P!L``0``4D` M4P!$`%(`%@`!10!N`'0`:0!T`'D`(`!2`&4`9P!I`',`=`!R`&$`;@!T`"`` M3@!A`&T`90`9``%)`',```@`$L`90!Y``H``3``,``P`#``.``T`#,`,``P`#8` M'``!0P!U`'(`<@!E`&X`=``@`$8`:0!S`&,`80!L`"``60!E`&$`<@`@`$4` M;@!D`"``1`!A`'0`90`'``$M`"T`,0`R`"T`,P`Q`"$``44`;@!T`&D`=`!Y M`"``5P!E`&P`;``@`$L`;@!O`'<`;@`@`%,`90!A`',`;P!N`&4`9``@`$D` M0`@`%8`;P!L`'4`;@!T M`&$`<@!Y`"``1@!I`&P`90!R``,``5D`90!S`!\``44`;@!T`&D`=`!Y`"`` M0P!U`'(`<@!E`&X`=``@`%(`90!P`&\`<@!T`&D`;@!G`"``4P!T`&$`=`!U M`',`%0`!10!N`'0`:0!T`'D`(`!&`&D`;`!E`'(`(`!#`&$`=`!E`&<`;P!R M`'D`&0`!4P!M`&$`;`!L`&4`<@`@`%(`90!P`&\`<@!T`&D`;@!G`"``0P!O M`&T`<`!A`&X`>0`G``%%`&X`=`!I`'0`>0`@`$,`;P!M`&T`;P!N`"``4P!T M`&\`8P!K`"P`(`!3`&@`80!R`&4`0`@`%``=0!B`&P`:0!C`"``1@!L`&\`80!T`/\` MB@`(``4*```,````$0P``!@"``"5#@``G`0``+<2``"^"```PQ0``,H*``!7 M%@``7@P``*D7``"P#0``81D``&@/``!M'```=!(``"D?```P%0``CR$``)87 M```*,@``\@<``()Q```L!P``?H4``"@;``#(A@``PM!`@#]``H`"````!@`"0```+T`$@`(``$`&@#` MB-5`&@"`.<]``@#]``H`"0```!@`"@```+T`$@`)``$`&@``````&@``0)]` M`@#]``H`"@```!@`"P```+T`$@`*``$`&@!H7`!!&@!X!P)!`@#]``H`"P`` M`!@`#````+T`$@`+``$`&P"6S28`&P"LVA=!`@#]``H`#````!8`#0```/T` M"@`-````&``.````O0`2``T``0`:`/"7\T`:`$"&`4$"`/T`"@`.````&``/ M````O0`2``X``0`:`/#7]T`:`"!#_T`"`/T`"@`/````&``0````O0`2``\` M`0`:`%#S\4`:`%#S\4`"`/T`"@`0````&``1````O0`2`!```0`:``!JV$`: M`("G[T`"`/T`"@`1````&``2````O0`2`!$``0`;`&S?$$$;`*P%&4$"`/T` M"@`2````%@`3````_0`*`!,````8`!0```"]`!(`$P`!`!H````40!H````< M0`(`_0`*`!0````8`!4```"]`!(`%``!`!H`@%S00!H`@&320`(`_0`*`!4` M```8`!8```"]`!(`%0`!`!H`:C%9`!H`NO-7``(`_0`*`!8````8`!<```"] M`!(`%@`!`!H``(RP0!H``(RP0`(`_0`*`!<````8`!@````#`@X`%P`!`!H` M`````+L!,<$#`@X`%P`"`!H``````+N`-L']``H`&````!@`&0```+T`$@`8 M``$`&P`H[A5!&P``L-+``@#]``H`&0```!8`&@```/T`"@`:````&``;```` MO0`2`!H``0`<`);-)@`<`*S:%T$"`-<`.@"*!0``"`(.`"8`#@`D`"0`)``D M`"0`)``D`"0`)``.`"0`)``D`"0`)``.`"0`)``D`"0`,@`D``X`/@(2`+8& M`````$```````````````*``!`!D`&0`'0`/``,````````!`````````.\` M!@```#<````*````"0@0```&$`!&&,T'P8````8"```+`A0````````````> M``````````J9```-``(``0`,``(`9``/``(``0`1``(````0``@`_*GQTDUB M4#]?``(``0`J``(````K``(```""``(``0"```@````````````E`@0```#_ M`($``@#!!!0````5````@P`"````A``"````H0`B``D`9``!``$``0!&`%@" M6`(```````#@/P```````.`_`0!5``(`"`!]``P``````+8\#P````0`?0`, M``$`!`"V&`\````$`'T`#``%`/\`)`D/````!````@X``````!X```````4` M```(`A``````````_P````````$/``@"$``!````!`#_`````````0\`"`(0 M``(``````/\````````!#P`(`A```P````0`_P````````$/``@"$``$```` M!`#_`````````0\`"`(0``4````$`/\````````!#P`(`A``!@````0`_P`` M``````$/``@"$``'````!`#_`````````0\`"`(0``@````$`/\````````! M#P`(`A``"0``````_P````````$/``@"$``*````!`#_`````````0\`"`(0 M``L``````/\````````!#P`(`A``#`````0`_P````````$/``@"$``-```` M``#_`````````0\`"`(0``X````$`/\````````!#P`(`A``#P````0`_P`` M``````$/``@"$``0````!`#_`````````0\`"`(0`!$````$`/\````````! M#P`(`A``$@``````_P````````$/``@"$``3````!`#_`````````0\`"`(0 M`!0``````/\````````!#P`(`A``%0````0`_P````````$/``@"$``6```` M``#_`````````0\`"`(0`!<````$`/\````````!#P`(`A``&```````_P`` M``````$/``@"$``9````!`#_`````````0\`"`(0`!H````$`/\````````! M#P`(`A``&P``````_P````````$/``@"$``<````!`#_`````````0\`"`(0 M`!T````$`/\````````!#P#]``H``````!<`'`````$"!@`!````%P#]``H` M`0`!`!<`'0```/T`"@`!``(`%P`>````_0`*``$``P`7`!\```#]``H``0`$ M`!<`(````/T`"@`"````%@`A````_0`*``,````8`"(```"]`!X``P`!`!D` M@#`(01D`4*@&01D`D`P801D`B&<6000`_0`*``0````8`",```"]`!X`!``! M`!H`@"('01H`4+T$01H`//L101H`:$$-000`_0`*``4````8`"0```"]`!X` M!0`!`!H`.+$!01H`<*#S0!H`O&4101H`8/O[0`0`_0`*``8````8`"4```"] M`!X`!@`!`!H`X/_N0!H``!K-0!H`<,'S0!H``$360`0`_0`*``<````8`"8` M``"]`!X`!P`!`!H`4+<$01H``````!H`8&X&01H```````0`_0`*``@````8 M`"<```"]`!X`"``!`!L`X%XG01L`O(,;01L`%I5+`!L`5FLM``0`_0`*``D` M```6`"@```#]``H`"@```!@`*0```+T`'@`*``$`&P`$BQ!!&P",6!%!&P#$ MFAU!&P!TP!E!!`#]``H`"P```!8`*@```/T`"@`,````&``K````O0`>``P` M`0`;`+PR'D$;`&!6!$$;`"C])D$;`."J$T$$`/T`"@`-````%@`L````_0`* M``X````8`"T```"]`!X`#@`!`!H`^.@`01H`I*8801H`Z$\-01H`Z&,J000` M_0`*``\````8`"X```"]`!X`#P`!`!H`\.3R0!H``(C[0!H`Z"@`01H`N/8# M000`_0`*`!`````8`"\```"]`!X`$``!`!H``&;#0!H``-^R0!H``-#20!H` M`.7"0`0`_0`*`!$````8`#````"]`!X`$0`!`!L`T)$+01L`(-0?01L`:.D7 M01L`5EH_``0`_0`*`!(````6`#$```#]``H`$P```!@`,@```+T`&``3``$` M&P#4:1!!&P#PJ!7!&P#H$!9!`P`#`@X`$P`$`!L``````+K7)<']``H`%``` M`!8`,P```/T`"@`5````&``T````O0`>`!4``0`;``!`4$`;`,"(U<`;``#@ ME$`;``#XM4`$`/T`"@`6````%@`U````_0`*`!<````8`#8```"]`!@`%P`! M`!P`T&@001P`9%`4P1P`"/P500,``P(.`!<`!``<``````"J`R;!_0`*`!@` M```6`#<```#]``H`&0```!@`.````+T`'@`9``$`'0`!``!`'0`!``#`'0`! M``!`'0`!`!#`!`#]``H`&@```!@`.0```+T`'@`:``$`'0`!``!`'0`!``#` M'0`!``!`'0`!`!#`!`#]``H`&P```!8`.@```/T`"@`<````&``[````O0`> M`!P``0`:`+Y#_@,:`"IX'`0:`$8'W`,:`&I2#P0$`/T`"@`=````&``\```` MO0`>`!T``0`:`(9T_@,:`"IX'`0:``H^W`,:`&I2#P0$`-<`0`#.!@``1`(. M`$(`#@`P`#``,``P`#``,``.`#``#@`P``X`,``P`#``,``.`#P`#@`P``X` M/``.`#``,``.`#``/@(2`+8``````$```````````````*``!`!D`&0`'0`/ M``,````````!`````````.\`!@```#<````*````"0@0```&$`!&&,T'P8`` M``8"```+`A0````````````;`````````-6?```-``(``0`,``(`9``/``(` M`0`1``(````0``@`_*GQTDUB4#]?``(``0`J``(````K``(```""``(``0"` M``@````````````E`@0```#_`($``@#!!!0````5````@P`"````A``"```` MH0`B``D`9``!``$``0!&`%@"6`(```````#@/P```````.`_`0!5``(`"`!] M``P``````+8\#P````0`?0`,``$``@"V&`\````$`'T`#``#`/\`)`D/```` M!````@X``````!L```````,````(`A``````````_P````````$/``@"$``! M`````@#_`````````0\`"`(0``(``````/\````````!#P`(`A```P````(` M_P````````$/``@"$``$``````#_`````````0\`"`(0``4````"`/\````` M```!#P`(`A``!@````(`_P````````$/``@"$``'`````@#_`````````0\` M"`(0``@``````/\````````!#P`(`A``"0````(`_P````````$/``@"$``* M`````@#_`````````0\`"`(0``L````"`/\````````!#P`(`A``#`````(` M_P````````$/``@"$``-``````#_`````````0\`"`(0``X````"`/\````` M```!#P`(`A``#P``````_P````````$/``@"$``0`````@#_`````````0\` M"`(0`!$````"`/\````````!#P`(`A``$@``````_P````````$/``@"$``3 M`````@#_`````````0\`"`(0`!0````"`/\````````!#P`(`A``%0````(` M_P````````$/``@"$``6`````@#_`````````0\`"`(0`!<``````/\````` M```!#P`(`A``&`````(`_P````````$/``@"$``9`````@#_`````````0\` M"`(0`!H````"`/\````````!#P#]``H``````!<`/0````$"!@`!````%P#] M``H``0`!`!<`'P```/T`"@`!``(`%P`@````_0`*``(````6`#4```#]``H` M`P```!@`-@```'X""@`#``$`&0`(_!5!`P(.``,``@`9``````"J`R;!_0`* M``0````6`#X```#]``H`!0```!@`+P```+T`$@`%``$`&@``T-)`&@``Y<)` M`@#]``H`!@```!@`/P```+T`$@`&``$`&@#`5-I`&@```````@#]``H`!P`` M`!@`0````+T`$@`'``$`&@``````&@#.@28``@#]``H`"````!8`00```/T` M"@`)````&`!"````O0`2``D``0`:`$#L_4`:`(`'^$`"`/T`"@`*````&`!# M````O0`2``H``0`:`,!EU4`:``#0D$`"`/T`"@`+````&`!$````O0`2``L` M`0`:`"#I[L`:`"!S_4`"`/T`"@`,````&`!%````O0`2``P``0`:```-M<`: M`$"?T4`"`/T`"@`-````%@!&````_0`*``X````8`$<```"]`!(`#@`!`!L` M()<'01L`H%+DP`(`_0`*``\````6`$@```#]``H`$````!@`20```+T`$@`0 M``$`&@"`QL9`&@```````@#]``H`$0```!@`2@```+T`$@`1``$`&P"`QL;` M&P```````@#]``H`$@```!8`2P```/T`"@`3````&`!,````O0`2`!,``0`: M``!>ND`:```````"`/T`"@`4````&`!-````O0`2`!0``0`:```````:``!J MZ$`"`/T`"@`5````&`!.````O0`2`!4``0`:`(!RXT`:`(`YQ$`"`/T`"@`6 M````&`!/````O0`2`!8``0`;`$"^YL`;`*!;XT`"`/T`"@`7````%@!0```` M_0`*`!@````8`%$```"]`!(`&``!`!H`*'L`01H``.">P`(`_0`*`!D````8 M`%(```"]`!(`&0`!`!H`X)?H0!H`P#+C0`(`_0`*`!H````8`%,```"]`!(` M&@`!`!D`(*$&01D`P#OB0`(`UP`Z`$0%```(`@X`)@`.`"X`#@`D`"0`)``. M`"0`)``D`"0`#@`D``X`)``D``X`)``D`"0`)``.`"0`)``^`A(`M@`````` M0```````````````H``$`&0`9``=``\``P````````$`````````[P`&```` M-P````H````)"!````80`$88S0?!@```!@(```L"%`````````````L````` M````1J,```T``@`!``P``@!D``\``@`!`!$``@```!``"`#\J?'236)0/U\` M`@`!`"H``@```"L``@```((``@`!`(``"````````````"4"!````/\`@0`" M`,$$%````!4```"#``(```"$``(```"A`"(`"0!D``$``0`!`$8`6`)8`@`` M`````.`_````````X#\!`%4``@`(`'T`#```````MCP/````!`!]``P``0`! M`+88#P````0`?0`,``(`_P`D"0\````$```"#@``````"P```````@````@" M$`````````#_`````````0\`"`(0``$````!`/\````````!#P`(`A```@`` M````_P````````$/``@"$``#`````0#_`````````0\`"`(0``0````!`/\` M```````!#P`(`A``!0````$`_P````````$/``@"$``&`````0#_```````` M`0\`"`(0``<````!`/\````````!#P`(`A``"`````$`_P````````$/``@" M$``)`````0#_`````````0\`"`(0``H````!`/\````````!#P#]``H````` M`!<`5`````$"!@`!````%P#]``H``0`!`!<`'P```/T`"@`"````%@!4```` M_0`*``,````8`%4```#]``H``P`!`"``5@```/T`"@`$````&`!7````_0`* M``0``0`@`%@```#]``H`!0```!@`60```/T`"@`%``$`(`!:````_0`*``8` M```8`%L```#]``H`!@`!`"``7````/T`"@`'````&`!=````_0`*``<``0`@ M`%X```#]``H`"````!@`7P```/T`"@`(``$`(`!@````_0`*``D````8`&$` M``#]``H`"0`!`"``8@```/T`"@`*````&`!C````_0`*``H``0`@`&0```#7 M`!H`\`$``,@`#@`8``X`'``<`!P`'``<`!P`'``^`A(`M@``````0``````` M````````H``$`&0`9``=``\``P````````$`````````[P`&````-P````H` M```)"!````80`$88S0?!@```!@(```L"%`````````````<`````````UZ4` M``T``@`!``P``@!D``\``@`!`!$``@```!``"`#\J?'236)0/U\``@`!`"H` M`@```"L``@```((``@`!`(``"````````````"4"!````/\`@0`"`,$$%``` M`!4```"#``(```"$``(```"A`"(`"0!D``$``0`!`$8`6`)8`@```````.`_ M````````X#\!`%4``@`(`'T`#```````MCP/````!`!]``P``0`!`+88#P`` M``0`?0`,``(`_P`D"0\````$```"#@``````!P```````@````@"$``````` M``#_`````````0\`"`(0``$````!`/\````````!#P`(`A```@``````_P`` M``````$/``@"$``#`````0#_`````````0\`"`(0``0````!`/\````````! M#P`(`A``!0````$`_P````````$/``@"$``&`````0#_`````````0\`_0`* M```````7`&4````!`@8``0```!<`_0`*``$``0`7`!T```#]``H``@```!8` M90```/T`"@`#````&`!F````_0`*``,``0`@`&<```#]``H`!````!@`:``` M`/T`"@`$``$`(`!I````_0`*``4````8`&H```#]``H`!0`!`"``:P```/T` M"@`&````&`!L````_0`*``8``0`@`&T```#7`!(`,`$``'@`#@`8``X`'``< M`!P`/@(2`+8``````$```````````````*``!`!D`&0`'0`/``,````````! M`````````.\`!@```#<````*````"0@0```&$`!&&,T'P8````8"```+`A0` M```````````-`````````("I```-``(``0`,``(`9``/``(``0`1``(````0 M``@`_*GQTDUB4#]?``(``0`J``(````K``(```""``(``0"```@````````` M```E`@0```#_`($``@#!!!0````5````@P`"````A``"````H0`B``D`9``! M``$``0!&`%@"6`(```````#@/P```````.`_`0!5``(`"`!]``P``````+8\ M#P````0`?0`,``$``0"V&`\````$`'T`#``"`/\`)`D/````!````@X````` M``T```````(````(`A``````````_P````````$/``@"$``!`````0#_```` M`````0\`"`(0``(``````/\````````!#P`(`A```P````$`_P````````$/ M``@"$``$`````0#_`````````0\`"`(0``4````!`/\````````!#P`(`A`` M!@````$`_P````````$/``@"$``'`````0#_`````````0\`"`(0``@````! M`/\````````!#P`(`A``"0````$`_P````````$/``@"$``*`````0#_```` M`````0\`"`(0``L````!`/\````````!#P`(`A``#`````$`_P````````$/ M`/T`"@``````%P!N`````0(&``$````7`/T`"@`!``$`%P`?````_0`*``(` M```6`&\```#]``H``P```!@`<````/T`"@`#``$`(`!Q````_0`*``0````8 M`'(```#]``H`!``!`"``0```/T`"@`(````&`!Z````_0`*``@``0`@`'L```#]``H` M"0```!@`?````/T`"@`)``$`(`![````_0`*``H````8`'T```#]``H`"@`! M`"``?@```/T`"@`+````&`!_````?@(*``L``0`:`':@_@/]``H`#````!@` M@````'X""@`,``$`&0#8\A5!UP`>`%`"``#P``X`&``.`!P`'``<`!P`'``< M`!P`'``<`#X"$@"V``````!```````````````"@``0`9`!D`!T`#P`#```` M`````0````````#O``8````W````"@`````````````````````````````` M```````````````!````_O___P,````$````_O______________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M____________________________________________________________ M______________________________________[_```%`@(````````````` M``````````$```#@A9_R^4]H$*N1"``K)[/9,````%`````#`````0```"@` M``````"`,`````0````X```````````````"````L`0``!,````)!```'P`` M``@```!S`',`:`!X`&(`<@!L````_O\```4"`@`````````````````````` M`@````+5S=6<+AL0DY<(`"LL^:Y$````!=7-U9PN&Q"3EP@`*RSYKFP````H M`````@````$````8````````@"`````"````L`0``!,````)!```-`````,` M````````(`````$````D````````@"P``````````@```+`$```3````"00` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` ` end
-----END PRIVACY-ENHANCED MESSAGE-----