XML 29 R7.htm IDEA: XBRL DOCUMENT v2.3.0.15
Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:  
Net income$ 1,742,606$ 44,365
Adjustments to reconcile to net cash provided by operating activities:  
Deferred tax (benefit) provision 34,000
Depreciation254,624277,818
Amortization of intangible assets3,549,0623,297,599
Stock based compensation charges1,537,0741,180,434
Changes in assets and liabilities:  
Restricted cash and investments790,29352,771
Accounts receivable, net4,471,7311,948,854
Prepaid and other assets332,64752,792
Real estate assets1,297,2452,184,015
Accrued expenses and other liabilities(1,172,521)(1,170,109)
Liability for option cancellations129,73921,269
Deferred revenue(3,078,116)(1,917,878)
Net cash provided by operating activities9,854,3846,005,930
CASH FLOWS FROM INVESTING ACTIVITIES:  
Web site and database development costs(2,598,097)(1,885,204)
Furniture, fixtures and equipment additions(242,057)(43,879)
Furniture, fixtures and equipment disposition 9,906
Net cash (used in) investing activities(2,840,154)(1,919,177)
CASH FLOWS FROM FINANCING ACTIVITIES:  
Repayment of Bank Loan(4,148,287)(6,506,354)
Repayments on capitalized equipment leases(21,796)(158,998)
Payments for restricted stock units(351,620)(217,878)
Stock repurchases(388,389)(307,574)
Net cash (used in) financing activities(4,910,092)(7,190,804)
Net increase (decrease) in cash and cash equivalents2,104,138(3,104,051)
Cash and cash equivalents, beginning of period20,163,78722,735,240
Cash and cash equivalents, end of period22,267,92519,631,189
SUPPLEMENTAL INFORMATION:  
Cash paid during the period for interest134,517237,637
Cash paid during the period for income taxes, net of refunds39,43426,071
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:  
Shares issued for vested employees restricted stock units2,6764,801
Disposal of fully amortized intangible assets241,724 
Disposal of fully depreciated furniture, fixtures and equipment45,988 
Release of accrued remediation liability obligation upon sale of real estate1,000,000 
Mortgage receivable on sale of real estate $ 450,000