XML 37 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities    
Net income (loss) $ (20,987) $ 274,436
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 71,497 25,000
Bad debt expense 45,150 85,345
Deferred income taxes (36,094) 12,624
Stock-based expense 266,603 43,590
Changes in operating assets and liabilities:    
Decrease (increase) in accounts receivable (126,347) (279,461)
Decrease (increase) in deposits and prepaids 60,772 (36,387)
Increase (decrease) in accounts payable (20,261) 74,139
Increase (decrease) in accrued expenses (112,175) 33,756
Increase (decrease) in deferred revenue (126,637) (15,553)
Net cash provided by operating activities 1,521 217,489
Cash flows from investing activities    
Purchase of property and equipment (4,138) (30,434)
Acquisition of intangible assets (280,000) (40,000)
Net cash used in investing activities (284,138) (70,434)
Cash flows from financing activities    
Proceeds from exercise of stock options 26,375 0
Repurchase of common stock 0 (35,338)
Payment of dividend (57,853) 0
Advance from line of credit 275,000 0
Repayment on line of credit (10,000) 0
Net cash provided by (used in) financing activities 233,522 (35,338)
Net change in cash (49,095) 111,717
Cash - beginning 862,386 504,713
Cash - ending 813,291 616,430
Supplemental disclosures:    
Cash paid for interest 5,923 29
Cash paid for income taxes 22,594 0
Non-cash activities:    
Common stock issued for acquisition of customer list $ 140,000 $ 0