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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2014
Dec. 31, 2013
Current Assets:    
Cash and cash equivalents $ 50,224,059 $ 45,443,759
Accounts receivable, net of allowance for doubtful accounts of $237,138 as of June 30, 2014 and $202,207 as of December 31, 2013 4,713,200 4,502,344
Marketable securities 6,106,800 9,426,875
Other receivables, net 387,492 299,687
Prepaid expenses and other current assets 1,244,573 1,167,029
Restricted cash 139,750 139,750
Total current assets 62,815,874 60,979,444
Property and equipment, net of accumulated depreciation and amortization of $16,648,899 as of June 30, 2014 and $16,035,351 as of December 31, 2013 4,588,330 4,400,404
Marketable securities 1,500,000 3,670,860
Other assets 9,180 21,800
Goodwill 27,997,286 27,997,286
Other intangibles, net of accumulated amortization of $7,838,597 as of June 30, 2014 and $6,994,772 as of December 31, 2013 9,819,158 10,662,983
Restricted cash 1,161,250 1,161,250
Total assets 107,891,078 108,894,027
Current Liabilities:    
Accounts payable 2,187,092 2,352,521
Accrued expenses 4,039,167 4,338,423
Deferred revenue 24,630,753 22,122,763
Other current liabilities 735,225 957,741
Total current liabilities 31,592,237 29,771,448
Deferred tax liability 288,000 288,000
Other liabilities 4,767,618 4,671,421
Total liabilities 36,647,855 34,730,869
Stockholders’ Equity    
Preferred stock; $0.01 par value; 10,000,000 shares authorized; 5,500 issued and outstanding as of June 30, 2014 and December 31, 2013; the aggregate liquidation preference totals $55,000,000 as of June 30, 2014 and December 31, 2013 55 55
Common stock; $0.01 par value; 100,000,000 shares authorized; 41,407,691 shares issued and 34,380,749 shares outstanding as of June 30, 2014, and 41,058,246 shares issued and 34,044,339 shares outstanding as of December 31, 2013 414,077 410,582
Additional paid-in capital 272,875,976 273,861,536
Accumulated other comprehensive loss (312,809) (178,183)
Treasury stock at cost; 7,026,942 shares as of June 30, 2014 and 7,013,907 shares as of December 31, 2013 (12,400,092) (12,364,460)
Accumulated deficit (189,333,984) (187,566,372)
Total stockholders’ equity 71,243,223 74,163,158
Total liabilities and stockholders’ equity $ 107,891,078 $ 108,894,027