XML 35 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income (loss) $ 6,601,626 $ (1,508,540) $ (1,956,543)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 50,685 18,949 35,669
Stock-based compensation expense 517,367 1,901,781 1,490,083
Deferred tax assets (3,047,955) 0 0
Accounts receivable (1,250,792) (459,291) 5,616,601
Prepaid expenses and other current assets (65,642) (28,664) (371,592)
Accounts payable and accrued expenses (3,009,109) 24,394 55,658
Deferred revenue (483,769) (831,111) (1,145,125)
Net cash provided by (used in) operating activities from continuing operations (687,589) (882,482) 3,724,751
Cash flows from investing activities:      
Maturities of marketable securities 5,360,970 4,548,541 2,799,754
Purchases of marketable securities (5,000,000) (5,360,970) (6,448,295)
Net cash used in investing activities from continuing operations 360,970 (812,429) (3,648,541)
Cash flows from financing activities:      
Proceeds from stock option exercises 82,450 673,375 380,029
Repurchases of common stock (739,551) (458,001) 0
Excess tax benefits from share-based payment arrangements 1,709,699 0 0
Net cash provided by financing activities from continuing operations 1,052,598 215,374 380,029
Increase (decrease) in cash and cash equivalents 725,979 (1,479,537) 456,239
Cash and cash equivalents at beginning of year 2,470,852 3,950,389 3,494,150
Cash and cash equivalents at end of year 3,196,831 2,470,852 3,950,389
Cash paid during the year for:      
Interest 0 0 0
Taxes $ 190,000 $ 9,851 $ 214,467