0001019687-12-003875.txt : 20121105 0001019687-12-003875.hdr.sgml : 20121105 20121105155916 ACCESSION NUMBER: 0001019687-12-003875 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20120930 FILED AS OF DATE: 20121105 DATE AS OF CHANGE: 20121105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WEBMEDIABRANDS INC. CENTRAL INDEX KEY: 0001083712 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 061542480 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-26393 FILM NUMBER: 121180077 BUSINESS ADDRESS: STREET 1: 50 WASHINGTON STREET STREET 2: 9TH FLOOR, STE. 912 CITY: NORWALK STATE: CT ZIP: 06854 BUSINESS PHONE: 203-662-2800 MAIL ADDRESS: STREET 1: 50 WASHINGTON STREET STREET 2: 9TH FLOOR, STE. 912 CITY: NORWALK STATE: CT ZIP: 06854 FORMER COMPANY: FORMER CONFORMED NAME: WEBMEDIA BRANDS INC. DATE OF NAME CHANGE: 20090225 FORMER COMPANY: FORMER CONFORMED NAME: WEBMEDIABRANDS INC. DATE OF NAME CHANGE: 20090225 FORMER COMPANY: FORMER CONFORMED NAME: JUPITERMEDIA CORP DATE OF NAME CHANGE: 20021015 10-Q 1 webmedia_10q-093012.htm FORM 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

S	Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934

	For the quarterly period ended September 30, 2012.

£	Transition Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934

	For the transition period from to

Commission file number: 000-26393

WebMediaBrands Inc.

(Exact name of Registrant as specified in its charter)

Delaware

(State or other jurisdiction of

incorporation or organization)

06-1542480

(I.R.S. Employer

Identification No.)

50 Washington Street, Suite 912

Norwalk, Connecticut

(Address of principal executive offices)

06854

(Zip Code)

(203) 662-2800

(Registrant’s telephone number, including area code)

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 x No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, 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). Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act: (Check one):

Large accelerated filer o	Accelerated filer o
Non-accelerated filer o	Smaller reporting company x
(Do not check if a smaller reporting company)

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

The number of outstanding shares the Registrant’s common stock, par value $.01 per share, as of November 1, 2012 was 6,013,165.

WebMediaBrands Inc.

Index

		Page
PART I. Financial Information

Item 1.	Financial Statements	3

	Consolidated Condensed Balance Sheets – September 30, 2012 (unaudited) and December 31, 2011	3

	Unaudited Consolidated Condensed Statements of Operations – For the Three Months and Nine Months Ended September 30, 2012 and 2011	4

	Unaudited Consolidated Condensed Statements of Cash Flows – For the Nine Months Ended September 30, 2012 and 2011	5

	Notes to Unaudited Consolidated Condensed Financial Statements	6

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	13

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	19

Item 4.	Controls and Procedures	19

PART II. Other Information

Item 1.	Legal Proceedings	20

Item 1A.	Risk Factors	20

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	20

Item 3.	Defaults Upon Senior Securities	20

Item 4.	Mine Safety Disclosures	20

Item 5.	Other Information	20

Item 6.	Exhibits	20

Signatures		21

WebMediaBrands Inc.

Consolidated Condensed Balance Sheets

September 30, 2012 and December 31, 2011

(in thousands, except share and per share amounts)

	September 30, 2012			December 31, 2011
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	2,479		$	3,438
Accounts receivable, net of allowances of $37 and $11, respectively		617			489
Prepaid expenses and other current assets		583			575
Total current assets		3,679			4,502

Property and equipment, net of accumulated depreciation of $1,582 and $1,350, respectively		346			477
Intangible assets, net		2,403			2,626
Goodwill		15,116			15,116
Investments and other assets		794			1,146
Total assets	$	22,338		$	23,867

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	362		$	367
Accrued payroll and related expenses		397			391
Accrued expenses and other current liabilities		476			662
Deferred revenues		1,555			1,288
Total current liabilities		2,790			2,708

Loan from related party		7,647			7,647
Deferred revenues		20			22
Deferred income taxes		470			444
Other long-term liabilities		63			60
Total liabilities		10,990			10,881

Commitments and contingencies (see note 12)

Stockholders’ equity:
Preferred stock, $.01 par value, 4,000,000 shares authorized, no shares issued and outstanding		–			–
Common stock, $.01 par value, 18,750,000 shares authorized, 6,128,879 and 6,077,957 shares issued and 6,009,594 and 5,958,672 shares outstanding at September 30, 2012 and December 31, 2011, respectively		61			61
Additional paid-in capital		289,543			289,036
Accumulated deficit		(277,760	)		(275,615	)
Treasury stock, 119,285 shares at cost		(496	)		(496	)
Total stockholders’ equity		11,348			12,986
Total liabilities and stockholders’ equity	$	22,338		$	23,867

See notes to unaudited consolidated condensed financial statements.

Shares outstanding and per share data have been adjusted to give effect to the one-for-seven reverse stock split implemented on August 16, 2012 as described in note 5 to the unaudited consolidated condensed financial statements.

WebMediaBrands Inc.

Unaudited Consolidated Condensed Statements of Operations

For the Three and Nine Months Ended September 30, 2012 and 2011

(in thousands, except per share amounts)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Revenues	$	2,917		$	3,008		$	10,642		$	9,054
Cost of revenues		1,678			1,686			5,830			5,257
Advertising, promotion and selling		614			472			1,920			1,537
General and administrative		1,306			1,359			3,938			4,080
Depreciation		78			77			238			242
Amortization		137			160			409			371
Contingent acquisition consideration		–			–			–			329
Total operating expenses		3,813			3,754			12,335			11,816
Operating loss		(896	)		(746	)		(1,693	)		(2,762	)
Other loss, net		(213	)		(4	)		(216	)		(7	)
Interest income		1			1			3			41
Interest expense		(63	)		(178	)		(209	)		(535	)
Loss before income taxes		(1,171	)		(927	)		(2,115	)		(3,263	)
Provision (benefit) for income taxes		11			(437	)		30			(417	)
Net loss	$	(1,182	)	$	(490	)	$	(2,145	)	$	(2,846	)
Loss per share:
Basic net loss	$	(0.20	)	$	(0.08	)	$	(0.36	)	$	(0.49	)
Diluted net loss	$	(0.20	)	$	(0.08	)	$	(0.36	)	$	(0.49	)
Weighted average shares used in computing loss per share:
Basic		6,009			6,082			5,983			5,765
Diluted		6,009			6,082			5,983			5,765

See notes to unaudited consolidated condensed financial statements.

WebMediaBrands Inc.

Unaudited Consolidated Condensed Statements of Cash Flows

For the Nine Months Ended September 30, 2012 and 2011

	Nine Months Ended September 30,
	2012			2011
Cash flows from operating activities:
Net loss	$	(2,145	)	$	(2,846	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		647			613
Stock-based compensation		380			372
Other, net		210			(3	)
Amortization of debt issuance costs		27			22
Deferred income taxes		25			(422	)
Provision for losses on accounts receivable		27			15
Changes in assets and liabilities (net of businesses acquired):
Accounts receivable, net		(155	)		(53	)
Prepaid expenses and other assets		130			434
Accounts payable, accrued expenses and other liabilities		(195	)		(566	)
Deferred revenues		265			309
Net cash used in operating activities		(784	)		(2,125	)
Cash flows from investing activities:
Purchases of property and equipment		(91	)		(39	)
Acquisitions of businesses, assets and other		(186	)		(9,020	)
Net cash used in investing activities		(277	)		(9,059	)
Cash flows from financing activities:
Deft issuance costs		(23	)		–
Repayment of borrowings from related party		–			(50	)
Proceeds from exercise of stock options		125			144
Net cash provided by financing activities		102			94
Net decrease in cash and cash equivalents		(959	)		(11,090	)
Cash and cash equivalents, beginning of period		3,438			12,970
Cash and cash equivalents, end of period	$	2,479		$	1,880

See notes to unaudited consolidated condensed financial statements.

WebMediaBrands Inc.

Notes to Unaudited Consolidated Condensed Financial Statements

September 30, 2012

1. THE COMPANY

WebMediaBrands Inc. (“WebMediaBrands” or the “Company”) is an Internet media company that provides content, education and career services to social media, traditional media and creative professionals through a portfolio of vertical online properties, communities and trade shows. The Company’s online business includes:

mediabistro.com, a blog network providing content, education, community and career resources about major media industry verticals including new media, social media, Facebook, TV news, advertising, public relations, publishing, design and mobile that includes the following:

10,000Words

AppNewser

GalleyCat

SocialTimes

AgencySpy

FishbowlDC

LostRemote

TVNewser

AllFacebook

AllTwitter

FishbowlLA

FishbowlNY

MediaJobsDaily PRNewser

TVSpy

UnBeige

The mediabistro.com business also includes an industry-leading job board for media and creative professionals focusing on job categories such as social media, online/new media, publishing, public relations/marketing, advertising, sales, design, web development, television and more;

InsideNetwork.com, a network of online properties dedicated to providing original market research, data services, news, events and job listings on the Facebook platform, on social gaming and on mobile applications ecosystems that includes the following:

AppData	Inside Social Games	PageData
Inside Facebook	Inside Virtual Goods	Social App Research Service
Inside Mobile Apps	Mobile App Research Service	The Facebook Marketing Bible

SemanticWeb.com, a blog providing content, education, community resources and career resources on the commercialization and application of Semantic Technologies, Linked Data and Big Data; and

AllCreativeWorld.com, a network of online properties providing content, education, community, career and other resources for creative and design professionals that includes the following:

AdsoftheWorld

BrandsoftheWorld

Creativebits

DynamicGraphics

Graphics.com

GraphicsDesignForum

LiquidTreat

StockLogos

The Company’s online business also includes community, membership and e-commerce offerings including a freelance listing service, a marketplace for designing and purchasing logos (stocklogos.com), and premium membership services.

The Company’s education business features online and in-person courses and online conferences for social media and traditional media professionals. Online education conferences combine the concepts of a large-scale event and a small group educational workshop that offers attendees the opportunity to learn in a dynamic online setting with live weekly instruction via webcast, discussion forums, homework assignments, and small group interaction where students receive one-on-one guidance and instruction from an advisor.

The Company’s trade shows include, among others, the Semantic Tech and Business Conference, Inside Social Apps, Social Gaming Summit and the AllFacebook Marketing Conference.

2. BASIS OF PRESENTATION

The accompanying unaudited consolidated condensed financial statements have been prepared from the books and records of WebMediaBrands in accordance with accounting principles generally accepted in the United States of America and Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The consolidated condensed statements of operations for the three and nine months ended September 30, 2012 are not necessarily indicative of the results to be expected for the full year or any future interim period. These unaudited consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in WebMediaBrands’s Annual Report on Form 10-K for the year ended December 31, 2011. Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation. In the opinion of management, all adjustments considered necessary for a fair presentation of the results for the interim periods presented have been reflected in such consolidated condensed financial statements.

The unaudited consolidated condensed financial statements include the accounts of WebMediaBrands and its wholly-owned subsidiaries: Mediabistro.com Inc., a Delaware corporation, and Inside Network, Inc., a California corporation. All significant intercompany balances and transactions have been eliminated in consolidation.

3. RECENT ACCOUNTING PRONOUNCEMENTS

In July 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2012-02, amending ASU No. 2011-08: “Intangibles — Goodwill and Other (Topic 350): Testing Goodwill for Impairment.” The amended guidance is related to indefinite-lived intangibles by providing entities an option to use a qualitative approach to test these assets for impairment. An entity will be able to first perform a qualitative assessment to determine whether it is more likely than not that the indefinite-lived intangible asset is impaired. If it is concluded that this is the case, then the entity must perform a quantitative impairment test. This amendment is effective for fiscal years beginning after September 15, 2012, with early adoption permitted. The Company does not expect the adoption of ASU 2012-02 to have a material impact on its financial statements.

4. SEGMENT INFORMATION

Segment information is presented in accordance with Accounting Standards Codification (“ASC”) Topic 280, “Segment Reporting”. ASC Topic 280 is typically based on a management approach that designates the internal organization used for making operating decisions and assessing performance. Operating segments are defined as business areas or lines of an enterprise about which financial information is available and evaluated on a regular basis by the chief operating decision-makers, or decision-making groups, in deciding how to allocate capital and other resources to such lines of business. The Company operates in one reportable segment. The Company is affected by seasonality as customers generally post more job listings during the first calendar quarter and fewer job listings during the fourth calendar quarter. Also, advertisers generally place fewer advertisements during the first and third calendar quarters of each year, which together with fluctuations in online job postings, directly affects the Company’s business. The Company’s results will also be impacted by the number and type of education courses offered and by the number and size of trade shows held in each quarter. In addition, there may be fluctuations as trade shows held in one period in the current year may be held in a different period in future years.

5. REVERSE STOCK SPLIT AND AUTHORIZED COMMON STOCK

On August 16, 2012 (“Effective Date”), the Company amended its Amended and Restated Certificate of Incorporation to reduce the number of shares of common stock the Company is authorized to issue and to effect a one-for-seven reverse stock split of the Company's issued common stock. On the Effective Date, the number of shares of common stock, par value $0.01 per share, the Company is authorized to issue decreased to 18,750,000 shares from 75,000,000 shares. As a result of the reverse stock split, each seven shares of common stock issued on the Effective Date were combined and converted into one share of common stock, par value $0.01 per share. Any stockholder who otherwise would have been entitled to receive a fractional share as a result of the reverse stock split became entitled to receive a cash payment in lieu of such fractional share. Each stockholder's percentage ownership in the Company and proportional voting power remained unchanged after the reverse stock split, except for minor changes and adjustments resulting from the treatment of fractional shares. Immediately prior to the effectiveness of the reverse stock split, 42,902,316 shares of common stock were issued. Immediately after the reverse stock split, 6,128,879 shares of common stock were issued. Trading of WebMediaBrands's common stock on The Nasdaq Capital Market began on a split-adjusted basis at the open of trading on August 17, 2012. The ticker symbol remains "WEBM".

6 . ACCOUNTING FOR STOCK-BASED COMPENSATION

Shares outstanding and per share data below have been adjusted to give effect to the one-for-seven reverse stock split implemented on August 16, 2012 as described in note 5 above.

Total employee stock-based compensation is as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012			2011
Stock options for employees	$	120	$	117	$	381		$	283
Restricted stock for employees		1		57		(1	)		89
Total employee stock-based compensation	$	121	$	174	$	380		$	372

Stock-based compensation increased additional paid-in capital by $380,000 during the nine months ended September 30, 2012.

The Company estimates the fair value of each stock option grant using the Black-Scholes option pricing model to estimate the fair value of stock-based awards with the following assumptions used for grants during the periods presented:

	Nine Months Ended September 30,
	2012		2011
Risk-free interest rate		0.93%		1.35%
Expected life (in years)		6.0		6.0
Dividend yield		0%		0%
Expected volatility		99%		94%

The expected stock price volatility is based on the historical volatility of WebMediaBrands’s common stock. The risk-free interest rate is based on the implied yield available on U.S. Treasury zero-coupon issues with a term that is equivalent to the remaining term of the stock option. WebMediaBrands had previously issued stock options with a five-year life. The Company calculated the expected life for these stock options using historical data. However, during the third quarter of 2010, the Company began issuing stock options with a ten-year life and, as a result, calculated the expected life using the simplified method.

The weighted-average grant date fair value of stock options granted during the nine months ended September 30, 2012 and 2011 was $4.20 and $5.60, respectively.

The following table summarizes stock option activity during the nine months ended September 30, 2012:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at December 31, 2011		999,344		$	6.44
Granted		24,609		$	6.08
Exercised		(67,953	)	$	1.84
Forfeited, expired or cancelled		(84,679	)	$	4.65
Outstanding at September 30, 2012		871,321		$	6.23		5.6		52,000
Vested and expected to vest at September 30, 2012		842,272		$	6.27		5.5		52,000
Exercisable at September 30, 2012		615,621		$	6.66		4.6		52,000

The aggregate intrinsic value in the table above is before income taxes, based on WebMediaBrands’s closing stock price of $2.29 as of September 30, 2012. During the three months ended September 30, 2012 and 2011, the total intrinsic value of stock options exercised was $8,000 and $19,000, respectively. During the nine months ended September 30, 2012 and 2011, the total intrinsic value of stock options exercised was $246,000 and $566,000, respectively.

As of September 30, 2012, there was $679,000 of total unrecognized compensation cost related to unvested stock-based compensation arrangements granted under the Company’s stock incentive plan. The Company expects to amortize that cost over a weighted-average period of 21 months.

The following table summarizes restricted stock activity during the nine months ended September 30, 2012:

	Shares			Weighted Average Grant Date Fair Value
Outstanding nonvested shares at December 31, 2011		18,949		$	11.69
Granted		–		$	–
Vested		(1,097	)	$	11.69
Forfeited		(16,986	)	$	11.69
Outstanding nonvested shares at September 30, 2012		866		$	11.69

7. COMPUTATION OF LOSS PER SHARE

Shares outstanding and per share data below have been adjusted to give effect to the one-for-seven reverse stock split implemented on August 16, 2012 as described in note 5 above.

The Company computes basic loss per share using the weighted average number of common shares outstanding during the period. The Company computes diluted loss per share using the weighted average number of common and dilutive common equivalent shares outstanding during the period. Common equivalent shares consist of the incremental common shares issuable upon the exercise of stock options. Common equivalent shares are excluded from the calculation if their effect is anti-dilutive.

Computations of basic and diluted loss per share for the periods presented are as follows (in thousands, except per share amounts):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Net loss	$	(1,182	)	$	(490	)	$	(2,145	)	$	(2,846	)

Basic weighted average number of common shares outstanding		6,009			6,082			5,983			5,765
Effect of dilutive stock options		–			–			–			–
Total basic weighted average number of common shares and dilutive stock options		6,009			6,082			5,983			5,765

Loss per share:
Basic and diluted loss	$	(0.20	)	$	(0.08	)	$	(0.36	)	$	(0.49	)

The following table summarizes the number of outstanding stock options excluded from the calculation of diluted loss per share for the periods presented because the result would have been anti-dilutive (in thousands, except weighted average exercise price):

	Nine Months Ended September 30,
	2012		2011
Number of anti-dilutive stock options		871		773
Weighted average exercise price	$	6.23	$	7.21

8. INTANGIBLE ASSETS AND GOODWILL

Amortized Intangible Assets

The following tables set forth the intangible assets that are subject to amortization, including the related accumulated amortization (in thousands):

	September 30, 2012
	Cost		Accumulated Amortization			Net Carrying Value
Customer relationships	$	804	$	(379	)	$	425
Website development costs		747		(314	)		433
Copyrights and trademarks		540		(165	)		375
Content development costs		155		(154	)		1
Non-compete agreements		97		(97	)		–
Total	$	2,343	$	(1,109	)	$	1,234

	December 31, 2011
	Cost		Accumulated Amortization			Net Carrying Value
Customer relationships	$	804	$	(239	)	$	565
Copyrights and trademarks		534		(79	)		455
Website development costs		567		(174	)		393
Content development costs		165		(142	)		23
Non-compete agreements		109		(88	)		21
Total	$	2,179	$	(722	)	$	1,457

The Company amortizes intangible assets that are subject to amortization on a straight-line basis over their expected useful lives. The Company amortizes website development costs, copyrights and trademarks and customer relationships over three to seven years and content development costs over two years. The Company amortizes non-compete agreements over the period of the agreements, typically from one to three years.

Amortization expense related to intangible assets subject to amortization was $137,000 and $409,000 for the three and nine months ended September 30, 2012, respectively, and $160,000 and $371,000 for the three and nine months ended September 30, 2011, respectively. The Company expects estimated annual amortization expense for the next five years, including the remainder of 2012, to be as follows (in thousands):

Years Ending December 31:
2012	$	131
2013		375
2014		285
2015		236
2016		121
Thereafter		86
	$	1,234

Unamortized Intangible Assets

The following tables set forth the intangible assets that are not subject to amortization (in thousands):

	September 30, 2012		December 31, 2011
Domain names	$	1,169	$	1,169

Goodwill

There were no changes in the carrying amount of goodwill for the nine months ended September 30, 2012.

9. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consist of the following (in thousands):

	September 30, 2012		December 31, 2011
Accrued professional fees	$	117	$	151
Customer overpayments		96		96
Accrued property and capital taxes		34		48
Other		229		367
Total	$	476	$	662

10. DEBT

On May 29, 2009, WebMediaBrands entered into a loan agreement in the amount of $7.2 million with the Company’s Chief Executive Officer, Alan M. Meckler (the “2009 Meckler Loan”).

In conjunction with the 2009 Meckler Loan, the Company (1) entered into a promissory note jointly and severally payable by the Company and its subsidiary, Mediabistro, to Mr. Meckler (the “2009 Note”), (2) entered into a Security Agreement by and between the Company and Mr. Meckler (the “Security Agreement”) pursuant to which the Company granted to Mr. Meckler a security interest in the Company’s assets, (3) entered into an Intellectual Property Security Agreement by and between the Company and Mr. Meckler (the “IP Security Agreement”) pursuant to which the Company granted to Mr. Meckler a security interest in the Company’s intellectual property, (4) entered into a Pledge Agreement by the Company in favor of Mr. Meckler (the “Pledge Agreement”) pursuant to which the Company granted to Mr. Meckler a security interest in and an assignment of all of the shares of stock or other equity interest of Mediabistro owned by the Company, and (5) agreed to enter into a Blocked Account Control Agreement by and among the Company, Mr. Meckler and a depositary bank, to further secure the Note (the “Control Agreement,” and together with the 2009 Note, the Security Agreement, the IP Security Agreement and the Pledge Agreement, the “Company Loan Documents”).

Simultaneously, Mediabistro (1) entered into a Security Agreement by and between Mediabistro and Mr. Meckler pursuant to which Mediabistro granted to Mr. Meckler a security interest in Mediabistro’s assets (the “Mediabistro Security Agreement”), (2) entered into an Intellectual Property Security Agreement by and between Mediabistro and Mr. Meckler pursuant to which Mediabistro granted to Mr. Meckler a security interest in Mediabistro’s intellectual property (the “Mediabistro IP Security Agreement”), and (3) agreed to enter into a Blocked Account Control Agreement by and among Mediabistro, Mr. Meckler and a depositary bank, to further secure the 2009 Note (the “Mediabistro Control Agreement” and, together with the Mediabistro Security Agreement and the Mediabistro IP Security Agreement, the “Mediabistro Documents”).

To fund the 2009 Meckler Loan, Mr. Meckler used a portion of the proceeds of a residential mortgage loan that Bank of America, N.A. (“BOA”) granted to Mr. Meckler and Mrs. Ellen L. Meckler (the “BOA Loan”). Pursuant to a Collateral Assignment of the 2009 Note dated May 29, 2009, by Mr. Meckler to BOA, Mr. Meckler collaterally assigned the Note to BOA as additional collateral for the BOA Loan. Payment terms of the 2009 Meckler Loan reflect pass through of the BOA Loan payment terms (excluding those funds borrowed pursuant to the BOA Loan for Mr. Meckler’s personal use). As a result, the interest rate, amortization schedule and maturity date of each loan are identical.

On September 1, 2010, WebMediaBrands entered into a Note Modification Agreement with Mr. Meckler. The Note Modification Agreement reduced the interest rate of the 2009 Note from 4.7% to 3.4% per annum. Interest on the outstanding principal amount is due and payable on the first day of each calendar month through June 2014. Thereafter, principal and interest is due and payable in equal monthly payments in an amount sufficient to pay the loan in full based on an amortization term of 15 years. In addition to the interest rate reduction noted above, the Note Modification Agreement also reduced the required minimum monthly principal and interest payments that commence on July 1, 2014. Although there are no future minimum principal payments due under the 2009 Meckler Loan for the years ended December 31, 2012 through December 31, 2013, the Company had repaid approximately $1.3 million of the 2009 Meckler Loan as of September 30, 2012. The 2009 Note is due and payable in full on May 29, 2016, and may be prepaid at any time without penalty or premium. WebMediaBrands made no principal payments on the 2009 Meckler Loan during the nine months ended September 30, 2012, and one principal payment in the amount of $50,000 during the nine months ended September 30, 2011.

On November 14, 2011, the Company and Mediabistro entered into a 2nd Note Modification Agreement with Mr. Meckler. The 2nd Note Modification Agreement amends the 2009 Note, which is described above. Under the 2nd Note Modification Agreement, the parties agreed to terminate the Company’s obligation to make a monthly accommodation fee of $40,000 to Mr. Meckler. As a result, the 2nd Note Modification Agreement reduces the effective interest payable on the 2009 Meckler Loan by $480,000 per year. The Company granted Mr. Meckler a fully vested stock option to purchase 142,857 shares of the Company’s common stock (after giving effect to the August 16, 2012 one-for-seven reverse stock split) pursuant to the terms of the 2008 WebMediaBrands Stock Option Plan. All other terms of the 2009 Meckler Loan remain unchanged.

Also on November 14, 2011, WebMediaBrands and its wholly owned subsidiaries, Mediabistro and Inside Network: (1) entered into a promissory note jointly and severally payable by the Company, Mediabistro and Inside Network to Mr. Meckler (the “2011 Note”); (2) entered into a Security Agreement by and between the Company and Mr. Meckler (the “WEBM Security Agreement”) pursuant to which the Company granted to Mr. Meckler a security interest in the Company’s assets; (3) entered into an Intellectual Property Security Agreement by and between the Company and Mr. Meckler (the “2nd IP Security Agreement”) pursuant to which the Company granted to Mr. Meckler a security interest in the Company’s intellectual property; and (4) entered into a Pledge Agreement by the Company in favor of Mr. Meckler (the “2nd Pledge Agreement”), and together with the 2011 Note, the WEBM Security Agreement and the 2nd IP Security Agreement, the “2011 Company Loan Documents”) pursuant to which the Company granted to Mr. Meckler a security interest in and assignment of all of the shares of stock or other equity interest of Mediabistro and Inside Network owned by the Company.

In the 2011 Note, Mr. Meckler loaned the Company $1,750,000 (the “2011 Meckler Loan”). The interest rate of the 2011 Note is 3.10% per annum. Interest on the outstanding principal amount is due and payable monthly until August 2014. Thereafter, principal and interest is due and payable in equal monthly installments, with the outstanding principal amount, together with all accrued interest thereon, due and payable on August 18, 2016. The 2011 Note may be prepaid at any time without penalty or premium.

In partial consideration of the 2011 Note and the 2nd Note Modification Agreement, Inside Network entered into a Security Agreement by and between Inside Network and Mr. Meckler pursuant to which Inside Network granted to Mr. Meckler a security interest in Inside Network’s assets (the “Inside Network Security Agreement”) to secure Inside Network’s obligations under the 2011 Note and the 2009 Note.

The 2011 Company Loan Documents and the Inside Network Security Agreement contain customary terms for a loan transaction of this type. If an Event of Default (as defined in the 2011 Note) occurs and is continuing beyond a specified cure period, Mr. Meckler may declare the 2011 Meckler Loan immediately due and payable. The 2011 Meckler Loan also will become immediately due and payable upon certain events of bankruptcy or insolvency or in the event of a Change of Control (as defined in the 2011 Note) of Mediabistro, Inside Network, or the Company.

On July 27, 2012, the Company entered into a 3rd Note Modification Agreement with Mr. Meckler that reduces the interest rate (i) of the 2009 Note to 2.975% from 3.40% effective June 1, 2012, and (ii) of the 2011 Note to 2.40% from 3.10% effective on June 18, 2012. All other terms of the promissory notes remain unchanged.

Interest expense on the 2009 Meckler Loan and 2011 Meckler Loan was $53,000 and $182,000 during the three and nine months ended September 30, 2012, respectively, and $171,000 and $513,000 during the three and nine months ended September 30, 2011, respectively. There are no future minimum principal payments due under the 2009 Meckler Loan and the 2011 Meckler Loan for the years ended December 31, 2012 and 2013. There are future minimum payments due to Mr. Meckler for the 2009 Meckler Loan and the 2011 Meckler Loan in the amount of $189,000 for the year ended December 31, 2014; $419,000 for the year ended December 31, 2015; and $7.0 million for the year ended December 31, 2016.

11. INCOME TAXES

The Company recorded a provision for income taxes of $11,000 and $30,000 during the three and nine months ended September 30, 2012, respectively. The Company recorded an income tax benefit of $437,000 and $417,000 during the three and nine months ended September 30, 2011, respectively, which was primarily due to the release of valuation allowance against the Company’s deferred income tax assets as a result of additional deferred tax liabilities that were recorded as part of the acquisition of Inside Network.

Based on current projections, management believes that it is more likely than not that WebMediaBrands will have insufficient taxable income to allow recognition of its deferred tax assets. Accordingly, a valuation allowance has been established against deferred tax assets to the extent that deductible temporary differences cannot be offset by taxable temporary differences. To the extent that the net book value of indefinite lived assets exceeds the net tax value of indefinite lived assets, an additional tax provision will be incurred as the assets are amortized.

The total amount of unrecognized tax benefits was $85,000 as of September 30, 2012 and December 31, 2011, all of which would affect the effective tax rate, if recognized, as of September 30, 2012.

12. COMMITMENTS AND CONTINGENCIES

WebMediaBrands is subject to legal proceedings and claims that arise in the ordinary course of its business. In the opinion of management, the amount of ultimate liability with respect to these actions should not materially affect the financial statements of WebMediaBrands.

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with our unaudited consolidated condensed financial statements and the accompanying notes that appear elsewhere in this filing. Statements in this Form 10-Q that are not historical facts are “forward-looking statements” under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described. The potential risks and uncertainties address a variety of subjects including, for example: general economic conditions; the competitive environment in which WebMediaBrands competes; the unpredictability of WebMediaBrands’s future revenues, expenses, cash flows and stock price; WebMediaBrands’s ability to integrate acquired businesses, products and personnel into its existing businesses; WebMediaBrands’s dependence on a limited number of advertisers; and WebMediaBrands’s ability to protect its intellectual property. For a more detailed discussion of these risks and uncertainties, refer to WebMediaBrands’s other reports filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934. The forward-looking statements included herein are made as of the date of this Form 10-Q, and we are under no obligation to update the forward-looking statements after the date hereof, except as required by law.

Overview

WebMediaBrands is an Internet media company that provides content, education and career services to media and creative professionals through a portfolio of vertical online properties, communities and trade shows. Our online business includes:

10,000Words	AppNewser	GalleyCat	SocialTimes
AgencySpy	FishbowlDC	LostRemote	TVNewser
AllFacebook	FishbowlLA	MediaJobsDaily	TVSpy
AllTwitter	FishbowlNY	PRNewser	UnBeige

Our mediabistro.com business also includes an industry-leading job board for media and business professionals focusing on job categories such as social media, online/new media, publishing, public relations/marketing, advertising, sales, design, web development, television and more;

InsideNetwork.com, a network of online properties dedicated to providing original market research, data services, news, events and job listings on the Facebook platform, social gaming and mobile applications ecosystems that includes the following:

AppData	Inside Social Games	PageData
Inside Facebook	Inside Virtual Goods	Social App Research Service
Inside Mobile Apps	Mobile App Research Service	The Facebook Marketing Bible

SemanticWeb.com, a blog providing content, education, community resources and career resources on the commercialization and application of Semantic Technologies, Linked Data and Big Data; and

AllCreativeWorld.com, a network of online properties providing content, education, community, career and other resources for creative and design professionals that include the following:

AdsoftheWorld

BrandsoftheWorld

Creativebits

DynamicGraphics

Graphics.com

GraphicsDesignForum

LiquidTreat

StockLogos

Our online business also includes community, membership and e-commerce offerings including a freelance listing service, a marketplace for designing and purchasing logos (stocklogos.com) and premium membership services.

Our education business features online and in-person courses and online conferences (including our Facebook Marketing and Social Media Marketing Boot Camps) for social media and traditional media professionals. Online education conferences combine the concepts of a large-scale event and a small group educational workshop that offers attendees the opportunity to learn in a dynamic online setting with live weekly instruction via webcast, discussion forums, homework assignments, and small group interaction where students receive one-on-one guidance and instruction from an advisor.

Our trade shows include, among others, the Semantic Tech and Business Conference, Inside Social Apps, Social Gaming Summit and the AllFacebook Marketing Conference.

Our businesses cross-leverage and cross-promote our content, product and service offerings. For example, users of our Websites read our content, search for jobs on our job boards, attend our trade shows, subscribe to and purchase products and services and take courses.

We generate our revenues from:

fees charged for online job postings;

advertising on our Websites and e-mail newsletters;

attendee registration fees to our trade shows;

attendee registration fees for our online and in-person courses and conferences;

fees for social media-related market research and data services products;

exhibition space fees and vendor sponsorships to our trade shows; and

subscription sales from our paid membership services.

Customers generally post more job listings during the first calendar quarter and fewer job listings during the fourth calendar quarter. Also, advertisers generally place fewer advertisements during the first and third calendar quarters of each year, which, together with fluctuations in online job postings, directly affect our business. Our results will also be impacted by the number and type of education courses we offer and by the number and size of trade shows we hold in each quarter. In addition, there may be fluctuations as trade shows held in one period in the current year may be held in a different period in future years.

The principal costs of our business relate to: payroll and benefits costs for our personnel; technology-related costs; facilities and equipment; and venue, speaker and advertising expenses for our trade shows and courses.

Recent Developments

On August 16, 2012 (“Effective Date”), we amended our Amended and Restated Certificate of Incorporation to reduce the number of shares of common stock we are authorized to issue and to effect a one-for-seven reverse stock split of issued common stock. On the Effective Date, the number of shares of common stock, par value $0.01 per share, we are authorized to issue decreased to 18,750,000 shares from 75,000,000 shares. As a result of the reverse stock split, each seven shares of common stock issued on the Effective Date were combined and converted into one share of common stock, par value $0.01 per share. Any stockholder who otherwise would have been entitled to receive a fractional share as a result of the reverse stock split became entitled to receive a cash payment in lieu of such fractional share. Each stockholder's percentage ownership in the Company and proportional voting power remained unchanged after the reverse stock split, except for minor changes and adjustments resulting from the treatment of fractional shares. Immediately prior to the effectiveness of the reverse stock split, 42,902,316 shares of common stock were issued. Immediately after the reverse stock split, 6,128,879 shares of common stock were issued. Trading of our common stock on The Nasdaq Capital Market began on a split-adjusted basis at the open of trading on August 17, 2012. The ticker symbol remains "WEBM".

Results of Operations

Revenues

Revenues were $2.9 million for the three months ended September 30, 2012 and $3.0 million for the three months ended September 30, 2011, representing a decrease of 3%. This change was primarily due to a decrease in online job postings offset by the growth of our research and advertising revenues. Research revenue related to Inside Network’s original market research and data services, which includes AppData.

Revenues were $10.6 million for the nine months ended September 30, 2012 and $9.1 million for the nine months ended September 30, 2011, representing an increase of 18%. This change was primarily due to the full period impact of the acquisition of Inside Network, which we acquired in May 2011, along with continued organic growth of our advertising, trade show and education revenues. The acquisition of Inside Network contributed $2.4 million to our revenues during the nine months ended September 30, 2012 compared to $875,000 for the same period last year.

The following table sets forth, for the periods indicated, the components of our revenues (in thousands):

	Three Months Ended September 30,				2012 vs. 2011						Nine Months Ended September 30,				2012 vs. 2011
	2012		2011		$			%			2012		2011		$			%

Online job postings	$	895	$	1,066	$	(171	)		(16	)%	$	3,057	$	3,334	$	(277	)		(8	)%
Advertising		785		704		81			12			2,150		1,662		488			29
Trade shows		112		159		(47	)		(30	)		1,798		1,288		510			40
Education		404		447		(43	)		(10	)		1,491		1,443		48			3
Research		421		371		50			13			1,314		565		749			133
Other		300		261		39			15			832		762		70			9
Total	$	2,917	$	3,008	$	(91	)		(3	)%	$	10,642	$	9,054	$	1,588			18%

Cost of revenues

Cost of revenues primarily consists of payroll and benefit costs for technology and editorial personnel, freelance costs, communications infrastructure and trade show and education operations. Cost of revenues excludes depreciation and amortization. Cost of revenues was $1.7 million for both the three months ended September 30, 2012 and September 30, 2011.

Cost of revenues was $5.8 million for the nine months ended September 30, 2012 and $5.3 million for the nine months ended September 30, 2011, representing an increase of 11%. This change was primarily due to the full period impact of the acquisition of Inside Network, which added $1.0 million to cost of revenues during the nine months ended September 30, 2012 compared to $382,000 for the same period last year.

We intend to make investments through internal development and, where appropriate opportunities arise, through acquisitions to continue to expand our content offerings. We might need to increase our spending in order to create additional content related to new topics or offerings.

Advertising, promotion and selling

Advertising, promotion and selling expenses primarily consist of payroll and benefit costs for sales and marketing personnel, sales commissions and promotion costs. Advertising, promotion and selling expenses were $614,000 for the three months ended September 30, 2012 and $472,000 for the three months ended September 30, 2011, representing an increase of 30%. The increase is primarily due to increases in employee-related costs of $91,000 and an increase in marketing-related expenses of $55,000.

Advertising, promotion and selling expenses were $1.9 million for the nine months ended September 30, 2012 and $1.5 million for the nine months ended September 30, 2012, representing an increase of 25%. This increase was primarily due to the full period impact of the acquisition of Inside Network, which added $578,000 to advertising, promotion and selling expenses during the nine months ended September 30, 2012 compared to $97,000 for the same period last year.

General and administrative

General and administrative expenses consist primarily of payroll and benefit costs for administrative personnel, office-related costs and professional fees. General and administrative expenses were $1.3 million for the three months ended September 30, 2012 and $1.4 million for the three months ended September 30, 2011, representing a decrease of 4%. This change was due to a decrease in professional fees of $116,000.

General and administrative expenses were $3.9 million for the nine months ended September 30, 2012 and $4.1 million for the nine months ended September 30, 2011, representing a decrease of 3%. This change was due to a decrease in professional fees of $315,000 that was partially offset by an increase in severance-related costs of $134,000.

Depreciation and amortization

Depreciation expense was $78,000 for the three months ended September 30, 2012 and $77,000 for the three months ended September 30, 2011, representing an increase of 1%. Depreciation expense was $238,000 for the nine months ended September 30, 2012 and $242,000 for the nine months ended September 30, 2011, representing a decrease of 2%. This decrease was due primarily to certain assets becoming fully depreciated.

Amortization expense was $137,000 for the three months ended September 30, 2012 and $160,000 for the three months ended September 30, 2011, representing a decrease of 14%. This decrease was due primarily to certain intangible assets becoming fully amortized. Amortization expense was $409,000 for the nine months ended September 30, 2012 and $371,000 for the nine months ended September 30, 2011, representing an increase of 10%. This increase was due primarily to the acquisition of Inside Network.

Our depreciation and amortization expenses might vary in future periods based upon a change in our capital expenditure levels or any future acquisitions.

Contingent acquisition consideration

During the fourth quarter of 2009, we entered into two asset purchase agreements. Both of the purchase agreements included a two year earn-out that could require us to pay additional cash consideration. We recorded a liability of $1.6 million as of December 31, 2009 for the estimated consideration to be paid. During the nine months ended September 30, 2011, we made our final earn-out payment related to these acquisitions. The total additional cash consideration we paid during the two year earn-out period was $1.9 million and resulted in $329,000 being recorded as contingent acquisition consideration during the nine months ended September 30, 2011.

Other loss, net

Other loss of $213,000 and $216,000 during the three and nine months ended September 30, 2012, respectively, relates primarily to the sale of our 33% investment in Social.Media.Tracking GmbH. Other loss was $4,000 and $7,000 for the three and nine months ended September 30, 2011, respectively.

Interest income and interest expense

The following table sets forth, for the periods indicated, a comparison of our interest income and interest expense (dollars in thousands):

	Three Months Ended September 30,						2012 vs. 2011				Nine Months Ended September 30,						2012 vs. 2011
	2012			2011			$		%		2012			2011			$			%
Interest income	$	1		$	1		$	–		—%	$	3		$	41		$	(38	)		(93	)%
Interest expense		(63	)		(178	)		115		65		(209	)		(535	)		326			61

Interest expense during the three and nine months ended September 30, 2012 and 2011 relates primarily to costs associated with our loans from a related party. The reduction in interest expense during the three and nine months ended September 30, 2012 was due to the 2^nd Note Modification Agreement that we entered into on November 14, 2011. See “Related Party Transactions” for a description of the loans and 2^nd Note Modification Agreement.

Provision (benefit) for income taxes

We recorded a provision for income taxes of $11,000 and $30,000 during the three and nine months ended September 30, 2012, respectively. We recorded an income tax benefit of $437,000 and $417,000 during the three and nine months ended September 30, 2011, respectively, which was primarily due to the release of valuation allowance against our deferred income tax assets as a result of additional deferred tax liabilities that we recorded as part of the acquisition of Inside Network.

Based on current projections, management believes that it is more likely than not that we will have insufficient taxable income to allow recognition of our deferred tax assets. Accordingly, we have established a valuation allowance against deferred tax assets to the extent that deductible temporary differences cannot be offset by taxable temporary differences. To the extent that the net book value of indefinite lived assets exceeds the net tax value of indefinite lived assets, we will incur an additional tax provision as the assets are amortized.

The total amount of unrecognized tax benefits was $85,000 as of September 30, 2012 and December 31, 2011, all of which would affect the effective tax rate, if recognized, as of September 30, 2012.

Liquidity and Capital Resources

The following table sets forth, for the periods indicated, a comparison of the key components of our liquidity and capital resources (dollars in thousands):

	Nine Months Ended September 30,						2012 vs. 2011
	2012			2011			$		%
Operating cash flows	$	(784	)	$	(2,125	)	$	1,341		63	%
Investing cash flows		(277	)		(9,059	)		8,782		97
Financing cash flows		102			94			8		9

	As of				2012 vs. 2011
	September 30, 2012		December 31, 2011		$			%
Cash and cash equivalents	$	2,479	$	3,438	$	(959	)		(28	)%
Working capital		889		1,794		(905	)		(50	)
Loan from related party		7,647		7,647		–			–

Since inception, we have funded operations through various means, including public offerings of our common stock, the sales of certain of our businesses, including our Online images and Internet.com businesses, as well as credit agreements and cash flows from operating activities.

Operating activities. Cash used by operating activities decreased during the nine months ended September 30, 2012 compared to the same period of 2011 due primarily to reduced losses from operations.

Investing activities. The amounts of cash used in investing activities vary in correlation to the number and cost of acquisitions we complete. Net cash used in investing activities during the nine months ended September 30, 2012 related primarily to the purchase of certain assets and website development costs. Net cash used in investing activities during the nine months ended September 30, 2011, related primarily to the acquisition of Inside Network.

Financing activities. Cash provided by financing activities during the nine months ended September 30, 2012 related to proceeds from stock option exercises partially offset by debt issuance costs incurred with the 3^rd Note Modification Agreement entered into on July 27, 2012. See “Related Party Transactions” below. Cash provided by financing activities during the nine months ended September 30, 2011 related primarily to stock option exercises partially offset by a prepayment of borrowings from related parties.

We expect to continue our investing activities on a limited basis for the foreseeable future, which includes the potential to strategically acquire content that is complementary to our business. We expect to finance any near-term acquisitions with cash on hand.

Our existing cash balances might decline during the remainder of 2012 in the event of a downturn in the general economy or changes in our planned cash outlay. However, we believe the remaining cash flow together with our existing cash balances and our current business plan and revenue prospects will be sufficient to meet the working capital and operating resource expenditure requirements of our business for the next 12 months.

Off-Balance Sheet Arrangements

We have not entered into off-balance sheet arrangements or issued guarantees to third parties.

Recent Accounting Pronouncements

We are required to adopt certain new accounting pronouncements. See note 3 to the consolidated financial statements included in Item 1 of this Form 10-Q.

Related Party Transactions

On May 29, 2009, we entered into a loan agreement in the amount of $7.2 million with our Chief Executive Officer, Alan M. Meckler (the “2009 Meckler Loan”).

In conjunction with the 2009 Meckler Loan, we (1) entered into a promissory note jointly and severally payable by us and our subsidiary, Mediabistro, to Mr. Meckler (the “2009 Note”), (2) entered into a Security Agreement with Mr. Meckler (the “Security Agreement”) pursuant to which we granted to Mr. Meckler a security interest in the our assets, (3) entered into an Intellectual Property Security Agreement with Mr. Meckler (the “IP Security Agreement”) pursuant to which the we granted to Mr. Meckler a security interest in the our intellectual property, (4) entered into a Pledge Agreement by us in favor of Mr. Meckler (the “Pledge Agreement”) pursuant to which we granted to Mr. Meckler a security interest in and an assignment of all of the shares of stock or other equity interest of Mediabistro owned by us, and (5) agreed to enter into a Blocked Account Control Agreement with Mr. Meckler and a depositary bank, to further secure the Note (the “Control Agreement,” and together with the 2009 Note, the Security Agreement, the IP Security Agreement and the Pledge Agreement, the “Company Loan Documents”).

Simultaneously, Mediabistro (1) entered into a Security Agreement with Mr. Meckler pursuant to which Mediabistro granted to Mr. Meckler a security interest in Mediabistro’s assets (the “Mediabistro Security Agreement”), (2) entered into an Intellectual Property Security Agreement with Mr. Meckler pursuant to which Mediabistro granted to Mr. Meckler a security interest in Mediabistro’s intellectual property (the “Mediabistro IP Security Agreement”), and (3) agreed to enter into a Blocked Account Control Agreement with Mr. Meckler and a depositary bank, to further secure the 2009 Note (the “Mediabistro Control Agreement” and, together with the Mediabistro Security Agreement and the Mediabistro IP Security Agreement, the “Mediabistro Documents”).

On September 1, 2010, we entered into a note modification agreement with Mr. Meckler. The Note Modification Agreement reduced the interest rate of the 2009 Note from 4.7% to 3.4% per annum. Interest on the outstanding principal amount is due and payable on the first day of each calendar month through June 2014. Thereafter, principal and interest is due and payable in equal monthly payments in an amount sufficient to pay the loan in full based on an amortization term of 15 years. In addition to the interest rate reduction noted above, the note modification agreement also reduced the required minimum monthly principal and interest payments that commence on July 1, 2014. Although there are no future minimum principal payments due under the 2009 Meckler Loan for the years ended December 31, 2012 through December 31, 2013, we had repaid approximately $1.3 million of the 2009 Meckler Loan as of September 30, 2012. The 2009 Note is due and payable in full on May 29, 2016, and may be prepaid at any time without penalty or premium. We made no principal payments during the nine months ended September 30, 2012 and one principal payment on the 2009 Meckler Loan totaling $50,000 during the nine months ended September 30, 2011.

On November 14, 2011, we along with Mediabistro, entered into a 2nd Note Modification Agreement with Mr. Meckler. The 2nd Note Modification Agreement amends the 2009 Note, which is described above. Under the 2nd Note Modification Agreement, the parties agreed to terminate our obligation to make a monthly accommodation fee of $40,000 to Mr. Meckler. As a result, the 2nd Note Modification Agreement reduces the effective interest payable on the 2009 Meckler Loan by $480,000 per year. We granted Mr. Meckler a fully vested stock option to purchase 142,857 shares of our common stock (after giving effect to the August 16, 2012 one-for-seven reverse stock split) pursuant to the terms of the 2008 WebMediaBrands Stock Option Plan. All other terms of the 2009 Meckler Loan remain unchanged.

Also on November 14, 2011, we, along with our wholly owned subsidiaries, Mediabistro and Inside Network: (1) entered into a promissory note jointly and severally payable by the Company, Mediabistro and Inside Network to Mr. Meckler (the “2011 Note”); (2) entered into a Security Agreement by and between the Company and Mr. Meckler (the “WEBM Security Agreement”) pursuant to which the Company granted to Mr. Meckler a security interest in the Company’s assets; (3) entered into an Intellectual Property Security Agreement by and between the Company and Mr. Meckler (the “2nd IP Security Agreement”) pursuant to which the Company granted to Mr. Meckler a security interest in the Company’s intellectual property; and (4) entered into a Pledge Agreement by the Company in favor of Mr. Meckler (the “2nd Pledge Agreement”), and together with the 2011 Note, the WEBM Security Agreement and the 2nd IP Security Agreement, the “2011 Company Loan Documents”) pursuant to which the Company granted to Mr. Meckler a security interest in and assignment of all of the shares of stock or other equity interest of Mediabistro and Inside Network owned by the Company.

In the 2011 Note, Mr. Meckler loaned us $1,750,000 (the “2011 Meckler Loan”). The interest rate of the 2011 Note is 3.10% per annum. Interest on the outstanding principal amount is due and payable monthly until August 2014. Thereafter, principal and interest is due and payable in equal monthly installments, with the outstanding principal amount, together with all accrued interest thereon, due and payable on August 18, 2016. The 2011 Note may be prepaid at any time without penalty or premium.

The 2011 Company Loan Documents and Inside Network Security Agreement contain customary terms for a loan transaction of this type. In an Event of Default (as defined in the 2011 Note) occurs and is continuing beyond a specified cure period, Mr. Meckler may declare the 2011 Meckler Loan immediately due and payable. The 2011 Meckler Loan also will become immediately due and payable upon certain events of bankruptcy or insolvency or in the event of a Change of Control (as defined in the 2011 Note) of Mediabistro, Inside Network, or the Company.

On July 27, 2012, we entered into a 3rd Note Modification Agreement with Mr. Meckler that reduces the interest rate (i) of the 2009 Note to 2.975% from 3.40% effective June 1, 2012, and (ii) of the 2011 Note to 2.40% from 3.10% effective on June 18, 2012. All other terms of the promissory notes remain unchanged.

Interest expense on the 2009 Meckler Loan and 2011 Meckler Loan was $53,000 and $182,000 during the three and nine months ended September 30, 2012, respectively, and $171,000 and $513,000 during the three and nine months ended September 30, 2011, respectively. There are no future minimum principal payments due under the 2009 Meckler Loan and the 2011 Meckler Loan for the years ended December 31, 2012 and 2013. There are future minimum principal payments due to Mr. Meckler for the 2009 Meckler Loan and the 2011 Meckler Loan in the amount of $189,000 for the year ended December 31, 2014; $419,000 for the year ended December 31, 2015; and $7.0 million for the year ended December 31, 2016.

Critical Accounting Policies

There have been no changes to our critical accounting policies from those included in our most recent Form 10-K for the year ended December 31, 2011.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

As a smaller reporting company as defined by Item 10(f)(1) of Regulation S-K, we are not required to provide the information required by this Item.

Item 4. Controls and Procedures

Disclosure Controls and Procedures. The Company conducted an evaluation of the effectiveness of the design and operation of its disclosure controls and procedures, as defined in Rule 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (“Exchange Act”) under the supervision and with the participation of its management including the Company’s Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Disclosure controls and procedures are designed only to provide reasonable assurance that (i) information required to be disclosed in an issuer’s reports filed under the Exchange Act is recorded, processed, summarized and reported within the time period specified in the SEC rules and forms and (ii) information is accumulated and communicated to management as appropriate to allow timely decisions regarding required disclosures.

As a result of this evaluation, the CEO and CFO concluded that the Company’s disclosure controls and procedures are effective to provide the reasonable assurance discussed above.

Changes in Internal Control over Financial Reporting. There were no changes in our internal control over financial reporting during the quarter ended September 30, 2012 that have material affected, or are reasonably likely to affect our internal control over financial reporting.

PART II - OTHER INFORMATION

Item 1.

LEGAL PROCEEDINGS

None

Item 1A.

RISK FACTORS

The primary risk factors affecting our business have not changed materially from the risk factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2011.

Item 2.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Not Applicable

Item 3.

DEFAULTS UPON SENIOR SECURITIES

Not Applicable

Item 4.

MINE SAFETY DISCLOSURES

Not Applicable

Item 5.

OTHER INFORMATION

Not Applicable

Item 6.

EXHIBITS

The following is a list of exhibits filed as part of this Report on Form 10-Q.

Exhibit Number		Description

3.1		Registrant’s Amended and Restated Certificate of Incorporation, as Amended

31.1		Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2		Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1		Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2		Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS		XBRL Instance Document

101.SCH		XBRL Schema Document

101.CAL		XBRL Calculations Linkbase Document

101.DEF		XBRL Definition Linkbase Document

101.LAB		XBRL Label Linkbase Document

101.PRE		XBRL Presentation Linkbase Document

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.


Dated: November 5, 2012		WebMediaBrands Inc.


		/s/ Alan M. Meckler
		Alan M. Meckler Chairman and Chief Executive Officer


		/s/ Donald J. O’Neill
		Donald J. O’Neill Vice President and Chief Financial Officer (Principal Financial Officer and Chief Accounting Officer)

EX-3.1 2 webmedia_10q-ex301.htm AMENDED AND RESTATED CERTIFICATE OF INCORPORATION

Exhibit 3.1

AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

INTERNET.COM CORPORATION

INTERNET.COM CORPORATION, a corporation organized and existing under the laws of the State of Delaware, hereby certifies as follows:

1. The name of the corporation is internet.com Corporation. The date of filing of its original Certificate of Incorporation with the Secretary of State was April 5, 1999.

2. This Amended and Restated Certificate of Incorporation restates and amends the Certificate of Incorporation of this corporation by increasing the total number of shares of stock which the corporation shall have authority to issue to 75,000,000 shares of common stock having a par value of $.01 per share and 4,000,000 shares of preferred stock having a par value of $.01 per share.

3. The text of the Certificate of Incorporation is amended and restated hereby to read as herein set forth in full:

FIRST: The name of the corporation (the “ Corporation ”) is internet.com Corporation.

SECOND: The address of the registered office of the Corporation in the State of Delaware is Corporation Trust Company, 1209 Orange Street, in the City of Wilmington, County of New Castle. The name of its registered agent at such address is The Corporation Trust Company.

THIRD: The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware as now in effect or as hereafter amended.

FOURTH: The total number of shares of stock which the Corporation shall have authority to issue is 75,000,000 shares of common stock having a par value of $.01 per share and 4,000,000 shares of preferred stock having a par value of $.01 per share. To the extent not otherwise provided for by, and not inconsistent with, this Certificate of Incorporation, there is hereby expressly vested in the Board of Directors the authority to fix in the resolution or resolutions providing for the issue of each series of such preferred stock, the voting power and the designations, preferences and relative, participating, operational or other rights of each such series, and the qualifications, limitations or restrictions thereof. Shares of preferred stock may be issued from time to time in one or more series as may from time to time be determined by the Board of Directors, each such series to be distinctly designated.

FIFTH: The name and mailing address of the incorporator is as follows:


Name		Mailing Address

Elliott M. Beard		c/o Willkie Farr & Gallagher
		787 Seventh Avenue
		New York, NY 10019

SIXTH: In furtherance and not in limitation of the powers conferred by statute, the By-Laws of the Corporation may be made, altered, amended or repealed by the stockholders or by a majority of the entire Board of Directors.

SEVENTH: Elections of directors need not be by written ballot.

EIGHTH: 1. Indemnification . The Corporation shall indemnify to the fullest extent permitted under and in accordance with the laws of the State of Delaware any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the Corporation) by reason of the fact that he is or was a director, officer, incorporator, employee or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer, trustee, employee or agent of or in any other similar capacity with another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he reasonably believed to be in, or not opposed to, the best interests of the Corporation, and, with respect to any criminal action or proceeding, shall not, of itself, create a presumption that the person had reasonable cause to believe that his conduct was unlawful.

2. Payment of Expenses . Expenses (including attorneys’ fees) incurred in defending any civil, criminal, administrative or investigative action, suit or proceeding shall (in the case of any action, suit or proceeding against a director of the Corporation) or may (in the case of any action, suit or proceeding against an officer, trustee, employee or agent) be paid by the Corporation in advance of the final disposition of such action, suit or proceeding as authorized by the Board of Directors upon receipt of an undertaking by or on behalf of the indemnified person to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the Corporation as authorized in this Article EIGHTH.

3. Nonexclusivity of Provision . The indemnification and other rights set forth in this Article EIGHTH shall not be exclusive of any provisions with respect thereto in the By-Laws or any other contract or agreement between the Corporation and any officer, director, employee or agent of the Corporation.

4. Effect of Repeal . Neither the amendment nor repeal of this Article EIGHTH, subparagraph 1, 2, or 3, nor the adoption of any provision of this Certificate of Incorporation inconsistent with Article EIGHTH, subparagraph 1, 2, or 3, shall eliminate or reduce the effect of this Article EIGHTH, subparagraphs 1, 2, and 3, in respect of any matter occurring before such amendment, repeal or adoption of an inconsistent provision or in respect of any cause of action, suit or claim relating to any such matter which would have given rise to a right of indemnification or right to receive expenses pursuant to this Article EIGHTH, subparagraph 1, 2, or 3, if such provision had not been so amended or repealed or if a provision inconsistent therewith had not been so adopted.

5. Limitation on Liability . No director or officer shall be personally liable to the Corporation or any stockholder for monetary damages for breach of fiduciary duty as a director or officer, except for any matter in respect of which such director or officer (A) shall be liable under Section 174 of the General Corporation Law of the State of Delaware or any amendment thereto or successor provision thereto, or (B) shall be liable by reason that, in addition to any and all other requirements for liability, he:

(i)

shall have breached his duty of loyalty to the Corporation or its stockholders;

(ii)

shall not have acted in good faith or, in failing to act, shall not have acted in good faith;

(iii)

shall have acted in a manner involving intentional misconduct or a knowing violation of law or, in failing to act, shall have acted in a manner involving intentional misconduct or a knowing violation of law; or

(iv)

shall have derived an improper personal benefit.

If the General Corporation Law of the State of Delaware is amended after the date of the filing of this Certificate of Incorporation to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by the General Corporation Law of the State of Delaware, as so amended.

NINTH: Whenever a compromise or arrangement is proposed between this Corporation and its creditors or any class of them and/or between this Corporation and its stockholders or any class of them, any court of equitable jurisdiction within the State of Delaware may, on the application in a summary way of this Corporation or of any creditor or stockholder thereof on the application of any receiver or receivers appointed for this Corporation under the provisions of section 291 of Title 8 of the Delaware Code or on the application of trustees in dissolution or of any receiver or receivers appointed for the Corporation under the provisions of section 279 of Title 8 of the Delaware Code, order a meeting of the creditors or class of creditors, and/or of the stockholders or class of stockholders of the Corporation, as the case may be, to be summoned in such manner as the said court directs. If a majority in number representing three-fourths in value of the creditors or class of creditors, and/or of the stockholders or class of stockholders of this Corporation, as the case may be, agree to any compromise or arrangement and to any reorganization of this Corporation as consequence of such compromise or arrangement, the said compromise or arrangement and the said reorganization shall, if sanctioned by the court to which the said application has been made, be binding on all the creditors or class of creditors, and/or on all the stockholders or class of stockholders, of this Corporation, as the case may be, and also on this Corporation.

4. This Amended and Restated Certificate of Incorporation was duly adopted by unanimous written consent of the directors of the corporation in accordance with the applicable provisions of Sections 141 and 241 of the General Corporation Law of the State of Delaware.

IN WITNESS WHEREOF, said INTERNET.COM CORPORATION has caused this certificate to be signed and attested by Alan M. Meckler, its Chairman and Chief Executive Officer, this 24th day of June, 1999.


INTERNET.COM CORPORATION

By:		/s/ Alan M. Meckler
		Name: Alan M. Meckler
		Title: Chairman and Chief
		Executive Officer

CERTIFICATE OF AMENDMENT

AMENDED AND RESTATED CERTIFICATE OF INCORPORATION

INTERNET.COM CORPORATION

UNDER SECTION 242 OF THE DELAWARE GENERAL CORPORATION LAW

INTERNET.COM CORPORATION (the “Corporation”), a corporation organized and existing under the laws of the State of Delaware, for the purpose of amending a certificate of incorporation filed pursuant to Section 102 of the General Corporation Law of the State of Delaware, hereby certifies as follows:

1. The Amended and Restated Certificate of Incorporation of the Corporation was filed with the Secretary of State on June 24, 1999.

2. The amendment effected hereby was duly authorized by the Corporation’s Board of Directors and stockholders in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.

3. The Amended and Restated Certificate of Incorporation of the Corporation is hereby amended by deleting Article FIRST thereof in its entirety and replacing it with the following:

“ FIRST: The name of the corporation (the “ Corporation ”) is INT Media Group, Incorporated.”

4. The aforesaid amendment was duly adopted in accordance with the applicable provisions of Section 242 of the General Corporation Law of the State of Delaware.

IN WITNESS WHEREOF, said INTERNET.COM CORPORATION has caused this certificate to be signed and attested by Christopher S. Cardell, its President and Chief Operating Officer, this 24th day of May, 2001.

/s/ Christopher S. Cardell

Christopher S. Cardell

President and Chief Operating Officer

STATE OF DELAWARE

CERTIFICATE OF AMENDMENT

CERTIFICATE OF INCORPORATION

INT MEDIA GROUP, INCORPORATED

Pursuant to Section 242 of the General Corporation Law

THE UNDERSIGNED , being a duly appointed officer of the Board of Directors of INT Media Group, Incorporated (the “ Corporation ”), a corporation organized and existing under and by virtue of the Delaware General Corporation Law (the “ DGCL ”), for the purpose of amending the Corporation’s Certificate of Incorporation (the “ Certificate of Incorporation ”) filed pursuant to Section 102 of the DGCL, hereby certifies, pursuant to Sections 242 and 103 of the DGCL, as follows:

SECOND: The amendment effected hereby was duly authorized by the Corporation’s Board of Directors and stockholders in accordance with the provisions of Sections 242 and 228 of the DGCL and shall be executed, acknowledged and filed in accordance with Section 103 of the DGCL.

THIRD: That the Certificate of Incorporation is hereby amended by deleting Article I thereof in its entirety and inserting in lieu thereof the following:

“ARTICLE I

The name of the corporation (the “Corporation”) is: “Jupitermedia Corporation”

FOURTH: This amendment shall become effective on September 3, 2002.

IN WITNESS WHEREOF , the undersigned has made and signed this Certificate of Amendment this 30th day of August, 2002 and affirms the statements contained herein as true under penalties of perjury.

INT MEDIA GROUP, INCORPORATED

/s/ Christopher S. Cardell

Name: Christopher S. Cardell

Title: President

STATE OF DELAWARE

CERTIFICATE OF AMENDMENT

CERTIFICATE OF INCORPORATION

JUPITERMEDIA CORPORATION

Pursuant to Section 242 of the General Corporation Law

THE UNDERSIGNED , being a duly appointed officer of the Board of Directors of Jupitermedia Corporation (the “ Corporation ”), a corporation organized and existing under and by virtue of the Delaware General Corporation Law (the “ DGCL ”), for the purpose of amending the Corporation’s Certificate of Incorporation (the “ Certificate of Incorporation ”) filed pursuant to Section 102 of the DGCL, hereby certifies, pursuant to Sections 242 and 103 of the DGCL, as follows:

FIRST: That the Amended and Restated Certificate of Incorporation was filed on June 24, 1999 with the Secretary of State of the State of Delaware and was amended by a Certificate of Amendment filed on May 24, 2001 with the Secretary of State of the State of Delaware and a Certificate of Amendment filed on August 30, 2002 with the Secretary of State of the State of Delaware.

SECOND: The amendment effected hereby was duly authorized by the Corporation’s Board of Directors and stockholders in accordance with the provisions of Section 242 of the DGCL and shall be executed, acknowledged and filed in accordance with Section 103 of the DGCL.

THIRD: That the Certificate of Incorporation is hereby amended by deleting Article I thereof in its entirety and inserting in lieu thereof the following:

“ARTICLE I

The name of the corporation (the “Corporation”) is: WebMediaBrands Inc. ”

FOURTH : This amendment shall become effective on February 23, 2009.

IN WITNESS WHEREOF , the undersigned has made and signed this Certificate of Amendment this 23rd day of February, 2009 and affirms the statements contained herein as true under penalties of perjury.

JUPITERMEDIA CORPORATION

/s/ Alan M. Meckler

Name: Alan M. Meckler

Title: Chairman and Chief Executive Officer

STATE OF DELAWARE

CERTIFICATE OF AMENDMENT

CERTIFICATE OF INCORPORATION

WEBMEDIABRANDS INC.

Pursuant to Section 242 of the General Corporation Law

THE UNDERSIGNED , being a duly appointed officer of the Board of Directors of WebMediaBrands Inc. (the " Corporation "), a corporation organized and existing under and by virtue of the Delaware General Corporation Law (the " DGCL "), for the purpose of amending the Corporation's Certificate of Incorporation (the " Certificate of Incorporation ") filed pursuant to Section 102 of the DGCL, hereby certifies, pursuant to Sections 242 and 103 of the DGCL, as follows:

FIRST: That the Amended and Restated Certificate of Incorporation was filed on June 24, 1999 with the Secretary of State of the State of Delaware and was amended by a Certificate of Amendment filed on May 24, 2001 with the Secretary of State of the State of Delaware, a Certificate of Amendment filed on August 30, 2002 with the Secretary of State of the State of Delaware, and a Certificate of Amendment filed on February 23, 2009 with the Secretary of State of the State of Delaware.

SECOND: The amendment effected hereby was duly authorized by the Corporation's Board of Directors and stockholders in accordance with the provisions of Section 242 of the DGCL and shall be executed, acknowledged and filed in accordance with Section 103 of the DGCL.

THIRD: That, effective as of 5:00 p.m. Eastern time on the date of the filing of this Certificate of Amendment of the Amended and Restated Certificate of Incorporation of WebMediaBrands Inc. with the Secretary of State of the State of Delaware (the "Effective Time"), the FOURTH Article of the Certificate of Incorporation is hereby deleted and replaced in its entirety as follows:

"FOURTH: The total number of shares of stock which the Corporation shall have authority to issue is 18,750,000 shares of common stock having a par value of $.01 per share and 4,000,000 shares of preferred stock having a par value of $.01 per share. To the extent not otherwise provided for by, and not inconsistent with, this Certificate of Incorporation, there is hereby expressly vested in the Board of Directors the authority to fix in the resolution or resolutions providing for the issue of each series of such preferred stock, the voting power and the designations, preferences and relative, participating, operational or other rights of each such series, and the qualifications, limitations or restrictions thereof. Shares of preferred stock may be issued from time to time in one or more series as may from time to time be determined by the Board of Directors, each such series to be distinctly designated.

The shares of Common Stock issued and outstanding immediately prior to the Effective Time and the shares of Common Stock issued and held in the treasury of the Company immediately prior to the Effective Time are reclassified into a smaller number of shares such that each two to ten shares of issued Common Stock immediately prior to the Effective Time is reclassified into one share of Common Stock, the exact ratio within the two-to-ten range to be determined by the board of directors of the Corporation prior to the Effective Time and publicly announced by the Corporation by press release. Notwithstanding the immediately preceding sentence, no fractional shares shall be issued and, in lieu thereof, upon surrender after the Effective Time of a certificate which formerly represented shares of Common Stock that were issued and outstanding immediately prior to the Effective Time, any person who would otherwise be entitled to a fractional share of Common Stock as a result of the reclassification, following the Effective Time, shall be entitled to receive a cash payment equal to the fraction to which such holder would otherwise be entitled multiplied by the fair value of a share of Common Stock , as determined by the board of directors of the Corporation, immediately following the Effective Time.

Each stock certificate that, immediately prior to the Effective Time, represented shares of Common Stock that were issued and outstanding immediately prior to the Effective Time shall, from and after the Effective Time, automatically and without the necessity of presenting the same for exchange, represent that number of whole shares of Common Stock after the Effective Time into which the shares of Common Stock formerly represented by such certificate shall have been reclassified (as well as the right to receive cash in lieu of fractional shares of Common Stock after the Effective Time), provided, however, that each person of record holding a certificate that represented shares of Common Stock that were issued and outstanding immediately prior to the Effective Time shall receive, upon surrender of such certificate, either a new certificate evidencing and representing the number of whole shares of Common Stock after the Effective Time into which the shares of Common Stock formerly represented by such certificate shall have been reclassified or evidence that the Corporation's transfer agent has registered in electronic or "book entry" format" the number of whole shares of Common Stock after the Effective Time into which the shares of Common Stock formerly represented by such certificate shall have been reclassified."

IN WITNESS WHEREOF , the undersigned has made and signed this Certificate of Amendment this 15th day of August 2012 and affirms the statements contained herein as true under penalties of perjury.

WEBMEDIABRANDS, INC.

/s/ Alan M. Meckler

Name: Alan M. Meckler

Title: Chairman and Chief Executive Officer

EX-31.1 3 webmedia_10q-ex3101.htm CERTIFICATION

Exhibit 31.1

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Alan M. Meckler, certify that:

1. I have reviewed this Form 10-Q of WebMediaBrands Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a–15(e) and 15d–15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

November 5, 2012	/s/ Alan M. Meckler
	Alan M. Meckler
	Chairman and Chief Executive Officer

EX-31.2 4 webmedia_10q-ex3102.htm CERTIFICATION

Exhibit 31.2

CERTIFICATION PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Donald J. O’Neill, certify that:

1. I have reviewed this Form 10-Q of WebMediaBrands Inc.;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

November 5, 2012	/s/ Donald J. O’Neill
	Donald J. O’Neill
	Vice President and Chief Financial Officer
	(Principal Financial Officer and Chief Accounting Officer)

EX-32.1 5 webmedia_10q-ex3201.htm CERTIFICATION

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of WebMediaBrands Inc. (the “Company”) on Form 10-Q for the period ended September 30, 2012 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Alan M. Meckler, Chairman and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

	/s/ Alan M. Meckler
	Alan M. Meckler
	Chairman and Chief Executive Officer
	November 5, 2012

EX-32.2 6 webmedia_10q-ex3202.htm CERTIFICATION

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of WebMediaBrands Inc. (the “Company”) on Form 10-Q for the period ended September 30, 2012 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Donald J. O’Neill, Vice President and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

	/s/ Donald J. O’Neill
	Donald J. O’Neill
	Vice President and Chief Financial Officer
	(Principal Financial Officer and Chief Accounting Officer)
	November 5, 2012

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WebMediaBrands Inc. (WebMediaBrands or the Company) is an Internet media company that provides content, education and career services to social media, traditional media and creative professionals through a portfolio of vertical online properties, communities and trade shows.  The Companys online business includes:   <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>mediabistro.com, a blog network providing content, education, community and career resources about major media industry verticals including new media, social media, Facebook, TV news, advertising, public relations, publishing, design and mobile that includes the following:</td></tr></table>   <table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 9%; text-align: justify"> </td> <td style="width: 23%; text-align: justify">10,000Words</td> <td style="width: 17%; text-align: justify">AppNewser</td> <td style="width: 17%; text-align: justify">GalleyCat</td> <td style="width: 17%; text-align: justify">SocialTimes</td> <td style="width: 17%; text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify">AgencySpy</td> <td style="text-align: justify">FishbowlDC</td> <td style="text-align: justify">LostRemote</td> <td style="text-align: justify">TVNewser</td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td> AllFacebook AllTwitter</td> <td> FishbowlLA FishbowlNY</td> <td style="text-align: justify">MediaJobsDaily PRNewser</td> <td> TVSpy UnBeige</td> <td style="text-align: justify"> </td></tr> </table>   The mediabistro.com business also includes an industry-leading job board for media and creative professionals focusing on job categories such as social media, online/new media, publishing, public relations/marketing, advertising, sales, design, web development, television and more;   <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">InsideNetwork.com, a network of online properties dedicated to providing original market research, data services, news, events and job listings on the Facebook platform, on social gaming and on mobile applications ecosystems that includes the following:</td></tr></table>    <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 8%; text-align: justify"> </td> <td style="width: 21%; text-align: justify">AppData</td> <td style="width: 26%; text-align: justify">Inside Social Games</td> <td style="width: 45%; text-align: justify">PageData</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify">Inside Facebook</td> <td style="text-align: justify">Inside Virtual Goods</td> <td style="text-align: justify">Social App Research Service</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify">Inside Mobile Apps</td> <td style="text-align: justify">Mobile App Research Service         </td> <td style="text-align: justify">The Facebook Marketing Bible</td></tr> </table>    <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>SemanticWeb.com, a blog providing content, education, community resources and career resources on the commercialization and application of Semantic Technologies, Linked Data and Big Data; and</td></tr></table>   <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in">·</td><td>AllCreativeWorld.com, a network of online properties providing content, education, community, career and other resources for creative and design professionals that includes the following:</td></tr></table>   <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 8%"> </td> <td style="width: 21%; padding-right: 5.4pt"> AdsoftheWorld BrandsoftheWorld Creativebits</td> <td style="width: 26%; padding-right: 5.4pt"> DynamicGraphics Graphics.com GraphicsDesignForum</td> <td style="width: 45%; padding-right: 5.4pt"> LiquidTreat StockLogos</td></tr> </table>   The Companys online business also includes community, membership and e-commerce offerings including a freelance listing service, a marketplace for designing and purchasing logos (stocklogos.com), and premium membership services.   The Companys education business features online and in-person courses and online conferences for social media and traditional media professionals.  Online education conferences combine the concepts of a large-scale event and a small group educational workshop that offers attendees the opportunity to learn in a dynamic online setting with live weekly instruction via webcast, discussion forums, homework assignments, and small group interaction where students receive one-on-one guidance and instruction from an advisor.   The Companys trade shows include, among others, the Semantic Tech and Business Conference, Inside Social Apps, Social Gaming Summit and the AllFacebook Marketing Conference.

The accompanying unaudited consolidated condensed financial statements have been prepared from the books and records of WebMediaBrands in accordance with accounting principles generally accepted in the United States of America and Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The consolidated condensed statements of operations for the three and nine months ended September 30, 2012 are not necessarily indicative of the results to be expected for the full year or any future interim period.  These unaudited consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in WebMediaBrandss Annual Report on Form 10-K for the year ended December 31, 2011.  Certain reclassifications have been made to the prior year financial statements to conform to the current year presentation.  In the opinion of management, all adjustments considered necessary for a fair presentation of the results for the interim periods presented have been reflected in such consolidated condensed financial statements.   The unaudited consolidated condensed financial statements include the accounts of WebMediaBrands and its wholly-owned subsidiaries: Mediabistro.com Inc., a Delaware corporation, and Inside Network, Inc., a California corporation.  All significant intercompany balances and transactions have been eliminated in consolidation.

In July 2012, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2012-02, amending ASU No. 2011-08: Intangibles Goodwill and Other (Topic 350):  Testing Goodwill for Impairment.   The amended guidance is related to indefinite-lived intangibles by providing entities an option to use a qualitative approach to test these assets for impairment. An entity will be able to first perform a qualitative assessment to determine whether it is more likely than not that the indefinite-lived intangible asset is impaired. If it is concluded that this is the case, then the entity must perform a quantitative impairment test. This amendment is effective for fiscal years beginning after September 15, 2012, with early adoption permitted. The Company does not expect the adoption of ASU 2012-02 to have a material impact on its financial statements.

Segment information is presented in accordance with Accounting Standards Codification (ASC) Topic 280, Segment Reporting. ASC Topic 280 is typically based on a management approach that designates the internal organization used for making operating decisions and assessing performance. Operating segments are defined as business areas or lines of an enterprise about which financial information is available and evaluated on a regular basis by the chief operating decision-makers, or decision-making groups, in deciding how to allocate capital and other resources to such lines of business. The Company operates in one reportable segment. The Company is affected by seasonality as customers generally post more job listings during the first calendar quarter and fewer job listings during the fourth calendar quarter. Also, advertisers generally place fewer advertisements during the first and third calendar quarters of each year, which together with fluctuations in online job postings, directly affects the Companys business. The Companys results will also be impacted by the number and type of education courses offered and by the number and size of trade shows held in each quarter. In addition, there may be fluctuations as trade shows held in one period in the current year may be held in a different period in future years.

On August 16, 2012 (Effective Date), the Company amended its Amended and Restated Certificate of Incorporation to reduce the number of shares of common stock the Company is authorized to issue and to effect a one-for-seven reverse stock split of the Company's issued common stock. On the Effective Date, the number of shares of common stock, par value $0.01 per share, the Company is authorized to issue decreased to 18,750,000 shares from 75,000,000 shares. As a result of the reverse stock split, each seven shares of common stock issued on the Effective Date were combined and converted into one share of common stock, par value $0.01 per share. Any stockholder who otherwise would have been entitled to receive a fractional share as a result of the reverse stock split became entitled to receive a cash payment in lieu of such fractional share. Each stockholder's percentage ownership in the Company and proportional voting power remained unchanged after the reverse stock split, except for minor changes and adjustments resulting from the treatment of fractional shares. Immediately prior to the effectiveness of the reverse stock split, 42,902,316 shares of common stock were issued. Immediately after the reverse stock split, 6,128,879 shares of common stock were issued. Trading of WebMediaBrands's common stock on The Nasdaq Capital Market began on a split-adjusted basis at the open of trading on August 17, 2012.  The ticker symbol remains "WEBM."

Shares outstanding and per share data below have been adjusted to give effect to the one-for-seven reverse stock split implemented on August 16, 2012 as described in note 5 above.   Total employee stock-based compensation is as follows (in thousands):    <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Three Months Ended September 30,</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended September 30,</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2012</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2011</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2012</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2011</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="width: 48%; text-align: left; text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Stock options for employees</td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif">120</td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif">117</td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif">381</td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif">283</td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Restricted stock for employees</td> <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1</td> <td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">57</td> <td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(1</td> <td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">89</td> <td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Total employee stock-based compensation</td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">121</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">174</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">380</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">372</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> </table>      Stock-based compensation increased additional paid-in capital by $380,000 during the nine months ended September 30, 2012.   The Company estimates the fair value of each stock option grant using the Black-Scholes option pricing model to estimate the fair value of stock-based awards with the following assumptions used for grants during the periods presented:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended September 30,</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2012</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2011</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="width: 74%; text-align: left; text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Risk-free interest rate</td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif">0.93%</td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif">1.35%</td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Expected life (in years)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">6.0</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">6.0</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Dividend yield</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">0%</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">0%</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Expected volatility</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">99%</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">94%</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> </table>     The expected stock price volatility is based on the historical volatility of WebMediaBrandss common stock. The risk-free interest rate is based on the implied yield available on U.S. Treasury zero-coupon issues with a term that is equivalent to the remaining term of the stock option.  WebMediaBrands had previously issued stock options with a five-year life.  The Company calculated the expected life for these stock options using historical data.   However, during the third quarter of 2010, the Company began issuing stock options with a ten-year life and, as a result, calculated the expected life using the simplified method.    The weighted-average grant date fair value of stock options granted during the nine months ended September 30, 2012 and 2011 was $4.20 and $5.60, respectively.    The following table summarizes stock option activity during the nine months ended September 30, 2012:     <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Shares</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Weighted Average Exercise Price</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Weighted Average Remaining Contractual Term (years)</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Aggregate Intrinsic Value</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="width: 48%; font: 10pt Times New Roman, Times, Serif">Outstanding at December 31, 2011</td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif">999,344</td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif">6.44</td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Granted</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">24,609</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">6.08</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Exercised</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">(67,953</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">1.84</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">Forfeited, expired or cancelled</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">(84,679</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">4.65</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif">Outstanding at September 30, 2012</td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">871,321</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">6.23</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">5.6</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">52,000</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif">Vested and expected to vest at September 30, 2012</td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">842,272</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">6.27</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">5.5</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">52,000</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif">Exercisable at September 30, 2012</td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">615,621</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">6.66</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">4.6</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">52,000</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> </table>   The aggregate intrinsic value in the table above is before income taxes, based on WebMediaBrandss closing stock price of $2.29 as of September 30, 2012. During the three months ended September 30, 2012 and 2011, the total intrinsic value of stock options exercised was $8,000 and $19,000, respectively.  During the nine months ended September 30, 2012 and 2011, the total intrinsic value of stock options exercised was $246,000 and $566,000, respectively.   As of September 30, 2012, there was $679,000 of total unrecognized compensation cost related to unvested stock-based compensation arrangements granted under the Companys stock incentive plan. The Company expects to amortize that cost over a weighted-average period of 21 months.   The following table summarizes restricted stock activity during the nine months ended September 30, 2012:    <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Shares</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Weighted Average Grant Date Fair Value</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="width: 66%; text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Outstanding nonvested shares at December 31, 2011</td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 13%; text-align: right; font: 10pt Times New Roman, Times, Serif">18,949</td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="width: 13%; text-align: right; font: 10pt Times New Roman, Times, Serif">11.69</td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Granted</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"></td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Vested</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">(1,097</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">11.69</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Forfeited</td> <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(16,986</td> <td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">11.69</td> <td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Outstanding nonvested shares at September 30, 2012</td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">866</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">11.69</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> </table>

Shares outstanding and per share data below have been adjusted to give effect to the one-for-seven reverse stock split implemented on August 16, 2012 as described in note 5 above.   The Company computes basic loss per share using the weighted average number of common shares outstanding during the period. The Company computes diluted loss per share using the weighted average number of common and dilutive common equivalent shares outstanding during the period. Common equivalent shares consist of the incremental common shares issuable upon the exercise of stock options. Common equivalent shares are excluded from the calculation if their effect is anti-dilutive.     Computations of basic and diluted loss per share for the periods presented are as follows (in thousands, except per share amounts):   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Three Months Ended September 30,</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended September 30,</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2012</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2011</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2012</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2011</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="width: 48%; text-align: left; padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Net loss</td> <td style="width: 2%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="width: 9%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(1,182</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td style="width: 2%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="width: 9%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(490</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td style="width: 2%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="width: 9%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,145</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td style="width: 2%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="width: 9%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,846</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif">Basic weighted average number of common shares outstanding</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">6,009</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">6,082</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">5,983</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">5,765</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">Effect of dilutive stock options</td> <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"></td> <td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"></td> <td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"></td> <td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"></td> <td style="padding-bottom: 1pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: -22.5pt; padding-left: 22.5pt; font: 10pt Times New Roman, Times, Serif">Total basic weighted average number of common shares and dilutive stock options</td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">6,009</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">6,082</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">5,983</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">5,765</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-indent: -0.25in; padding-left: 0.25in">Loss per share:</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Basic and diluted loss</td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(0.20</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(0.08</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(0.36</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td> <td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(0.49</td> <td style="padding-bottom: 2.5pt; text-align: left; font: 10pt Times New Roman, Times, Serif">)</td></tr> </table>    The following table summarizes the number of outstanding stock options excluded from the calculation of diluted loss per share for the periods presented because the result would have been anti-dilutive (in thousands, except weighted average exercise price):   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended September 30,</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2012</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2011</td> <td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238); font: 10pt Times New Roman, Times, Serif"> <td style="width: 74%; text-align: left; text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Number of anti-dilutive stock options</td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif">871</td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="width: 9%; text-align: right; font: 10pt Times New Roman, Times, Serif">773</td> <td style="width: 1%; text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="vertical-align: bottom; background-color: White; font: 10pt Times New Roman, Times, Serif"> <td style="text-indent: -0.25in; padding-left: 0.25in; font: 10pt Times New Roman, Times, Serif">Weighted average exercise price</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">6.23</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif">$</td> <td style="text-align: right; font: 10pt Times New Roman, Times, Serif">7.21</td> <td style="text-align: left; font: 10pt Times New Roman, Times, Serif"> </td></tr> </table>

Amortized Intangible Assets   The following tables set forth the intangible assets that are subject to amortization, including the related accumulated amortization (in thousands):        <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">September 30, 2012</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Cost</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accumulated Amortization</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Net Carrying Value</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 61%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Customer relationships</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">804</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">(379</td> <td style="width: 1%; text-align: left">)</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">425</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Website development costs</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">747</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(314</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">433</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Copyrights and trademarks</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">540</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(165</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">375</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Content development costs</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">155</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(154</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">1</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in">Non-compete agreements</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">97</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(97</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.5in">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">2,343</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">(1,109</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">1,234</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>     <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2011</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Cost</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accumulated Amortization</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Net Carrying Value</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 61%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Customer relationships</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">804</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">(239</td> <td style="width: 1%; text-align: left">)</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">565</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Copyrights and trademarks</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">534</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(79</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">455</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Website development costs</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">567</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(174</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">393</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Content development costs</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">165</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(142</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">23</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in">Non-compete agreements</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">109</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(88</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">21</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.5in">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">2,179</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">(722</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">1,457</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>     The Company amortizes intangible assets that are subject to amortization on a straight-line basis over their expected useful lives. The Company amortizes website development costs, copyrights and trademarks and customer relationships over three to seven years and content development costs over two years.  The Company amortizes non-compete agreements over the period of the agreements, typically from one to three years.      Amortization expense related to intangible assets subject to amortization was $137,000 and $409,000 for the three and nine months ended September 30, 2012, respectively, and $160,000 and $371,000 for the three and nine months ended September 30, 2011, respectively. The Company expects estimated annual amortization expense for the next five years, including the remainder of 2012, to be as follows (in thousands):   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; padding-bottom: 1pt; text-decoration: underline">Years Ending December 31:</td> <td style="padding-bottom: 1pt"> </td> <td colspan="2"> </td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 87%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">2012</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">131</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">2013</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">375</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">2014</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">285</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">2015</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">236</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">2016</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">121</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Thereafter</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">86</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">1,234</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>     Unamortized Intangible Assets    The following tables set forth the intangible assets that are not subject to amortization (in thousands):      <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">September 30, 2012</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2011</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 70%; text-align: left; padding-bottom: 2.5pt">Domain names</td> <td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="width: 11%; border-bottom: Black 2.5pt double; text-align: right">1,169</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td> <td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="width: 11%; border-bottom: Black 2.5pt double; text-align: right">1,169</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> </table>      Goodwill   There were no changes in the carrying amount of goodwill for the nine months ended September 30, 2012.

Accrued expenses and other current liabilities consist of the following (in thousands):   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">September 30, 2012</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2011</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 70%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Accrued professional fees</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 11%; text-align: right">117</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 11%; text-align: right">151</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Customer overpayments</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">96</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">96</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Accrued property and capital taxes</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">34</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">48</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in">Other</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">229</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">367</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.25in">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">476</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">662</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>     <table cellpadding="0" cellspacing="0" style="width: 100%; font-size: 10pt"> <tr> <td style="text-align: center; width: 100%"> </td></tr> </table>

On May 29, 2009, WebMediaBrands entered into a loan agreement in the amount of $7.2 million with the Companys Chief Executive Officer, Alan M. Meckler (the 2009 Meckler Loan).   In conjunction with the 2009 Meckler Loan, the Company (1) entered into a promissory note jointly and severally payable by the Company and its subsidiary, Mediabistro, to Mr. Meckler (the 2009 Note), (2) entered into a Security Agreement by and between the Company and Mr. Meckler (the Security Agreement) pursuant to which the Company granted to Mr. Meckler a security interest in the Companys assets, (3) entered into an Intellectual Property Security Agreement by and between the Company and Mr. Meckler (the IP Security Agreement) pursuant to which the Company granted to Mr. Meckler a security interest in the Companys intellectual property, (4) entered into a Pledge Agreement by the Company in favor of Mr. Meckler (the Pledge Agreement) pursuant to which the Company granted to Mr. Meckler a security interest in and an assignment of all of the shares of stock or other equity interest of Mediabistro owned by the Company, and (5) agreed to enter into a Blocked Account Control Agreement by and among the Company, Mr. Meckler and a depositary bank, to further secure the Note (the Control Agreement, and together with the 2009 Note, the Security Agreement, the IP Security Agreement and the Pledge Agreement, the Company Loan Documents).   Simultaneously, Mediabistro (1) entered into a Security Agreement by and between Mediabistro and Mr. Meckler pursuant to which Mediabistro granted to Mr. Meckler a security interest in Mediabistros assets (the Mediabistro Security Agreement), (2) entered into an Intellectual Property Security Agreement by and between Mediabistro and Mr. Meckler pursuant to which Mediabistro granted to Mr. Meckler a security interest in Mediabistros intellectual property (the Mediabistro IP Security Agreement), and (3) agreed to enter into a Blocked Account Control Agreement by and among Mediabistro, Mr. Meckler and a depositary bank, to further secure the 2009 Note (the Mediabistro Control Agreement and, together with the Mediabistro Security Agreement and the Mediabistro IP Security Agreement, the Mediabistro Documents).   To fund the 2009 Meckler Loan, Mr. Meckler used a portion of the proceeds of a residential mortgage loan that Bank of America, N.A. (BOA) granted to Mr. Meckler and Mrs. Ellen L. Meckler (the BOA Loan). Pursuant to a Collateral Assignment of the 2009 Note dated May 29, 2009, by Mr. Meckler to BOA, Mr. Meckler collaterally assigned the Note to BOA as additional collateral for the BOA Loan. Payment terms of the 2009 Meckler Loan reflect pass through of the BOA Loan payment terms (excluding those funds borrowed pursuant to the BOA Loan for Mr. Mecklers personal use). As a result, the interest rate, amortization schedule and maturity date of each loan are identical.    On September 1, 2010, WebMediaBrands entered into a Note Modification Agreement with Mr. Meckler.  The Note Modification Agreement reduced the interest rate of the 2009 Note from 4.7% to 3.4% per annum.  Interest on the outstanding principal amount is due and payable on the first day of each calendar month through June 2014. Thereafter, principal and interest is due and payable in equal monthly payments in an amount sufficient to pay the loan in full based on an amortization term of 15 years.  In addition to the interest rate reduction noted above, the Note Modification Agreement also reduced the required minimum monthly principal and interest payments that commence on July 1, 2014.  Although there are no future minimum principal payments due under the 2009 Meckler Loan for the years ended December 31, 2012 through December 31, 2013, the Company had repaid approximately $1.3 million of the 2009 Meckler Loan as of September 30, 2012.  The 2009 Note is due and payable in full on May 29, 2016, and may be prepaid at any time without penalty or premium. WebMediaBrands made no principal payments on the 2009 Meckler Loan during the nine months ended September 30, 2012, and one principal payment in the amount of $50,000 during the nine months ended September 30, 2011.   On November 14, 2011, the Company and Mediabistro entered into a 2nd Note Modification Agreement with Mr. Meckler.  The 2nd Note Modification Agreement amends the 2009 Note, which is described above.  Under the 2nd Note Modification Agreement, the parties agreed to terminate the Companys obligation to make a monthly accommodation fee of $40,000 to Mr. Meckler.  As a result, the 2nd Note Modification Agreement reduces the effective interest payable on the 2009 Meckler Loan by $480,000 per year.  The Company granted Mr. Meckler a fully vested stock option to purchase 142,857 shares of the Companys common stock (after giving effect to the August 16, 2012 one-for-seven reverse stock split) pursuant to the terms of the 2008 WebMediaBrands Stock Option Plan.  All other terms of the 2009 Meckler Loan remain unchanged.    Also on November 14, 2011, WebMediaBrands  and its wholly owned subsidiaries, Mediabistro and Inside Network: (1) entered into a promissory note jointly and severally payable by the Company, Mediabistro and Inside Network to Mr. Meckler (the 2011 Note); (2) entered into a Security Agreement by and between the Company and Mr. Meckler (the WEBM Security Agreement) pursuant to which the Company granted to Mr. Meckler a security interest in the Companys assets; (3) entered into an Intellectual Property Security Agreement by and between the Company and Mr. Meckler (the 2nd IP Security Agreement) pursuant to which the Company granted to Mr. Meckler a security interest in the Companys intellectual property; and (4) entered into a Pledge Agreement by the Company in favor of Mr. Meckler (the 2nd Pledge Agreement), and together with the 2011 Note, the WEBM Security Agreement and the 2nd IP Security Agreement, the 2011 Company Loan Documents) pursuant to which the Company granted to Mr. Meckler a security interest in and assignment of all of the shares of stock or other equity interest of Mediabistro and Inside Network owned by the Company.   In the 2011 Note, Mr. Meckler loaned the Company $1,750,000 (the 2011 Meckler Loan).  The interest rate of the 2011 Note is 3.10% per annum.  Interest on the outstanding principal amount is due and payable monthly until August 2014.  Thereafter, principal and interest is due and payable in equal monthly installments, with the outstanding principal amount, together with all accrued interest thereon, due and payable on August 18, 2016.  The 2011 Note may be prepaid at any time without penalty or premium.   In partial consideration of the 2011 Note and the 2nd Note Modification Agreement, Inside Network entered into a Security Agreement by and between Inside Network and Mr. Meckler pursuant to which Inside Network granted to Mr. Meckler a security interest in Inside Networks assets (the Inside Network Security Agreement) to secure Inside Networks obligations under the 2011 Note and the 2009 Note.   The 2011 Company Loan Documents and the Inside Network Security Agreement contain customary terms for a loan transaction of this type.  If an Event of Default (as defined in the 2011 Note) occurs and is continuing beyond a specified cure period, Mr. Meckler may declare the 2011 Meckler Loan immediately due and payable. The 2011 Meckler Loan also will become immediately due and payable upon certain events of bankruptcy or insolvency or in the event of a Change of Control (as defined in the 2011 Note) of Mediabistro, Inside Network, or the Company.   On July 27, 2012, the Company entered into a 3rd Note Modification Agreement with Mr. Meckler that reduces the interest rate (i) of the 2009 Note to 2.975% from 3.40% effective June 1, 2012, and (ii) of the 2011 Note to 2.40% from 3.10% effective on June 18, 2012.  All other terms of the promissory notes remain unchanged.    Interest expense on the 2009 Meckler Loan and 2011 Meckler Loan was $53,000 and $182,000 during the three and nine months ended September 30, 2012, respectively, and $171,000 and $513,000 during the three and nine months ended September 30, 2011, respectively.  There are no future minimum principal payments due under the 2009 Meckler Loan and the 2011 Meckler Loan for the years ended December 31, 2012 and 2013.  There are future minimum payments due to Mr. Meckler for the 2009 Meckler Loan and the 2011 Meckler Loan in the amount of $189,000 for the year ended December 31, 2014; $419,000 for the year ended December 31, 2015; and $7.0 million for the year ended December 31, 2016.

The Company recorded a provision for income taxes of $11,000 and $30,000 during the three and nine months ended September 30, 2012, respectively. The Company recorded an income tax benefit of $437,000 and $417,000 during the three and nine months ended September 30, 2011, respectively, which was primarily due to the release of valuation allowance against the Companys deferred income tax assets as a result of additional deferred tax liabilities that were recorded as part of the acquisition of Inside Network.   Based on current projections, management believes that it is more likely than not that WebMediaBrands will have insufficient taxable income to allow recognition of its deferred tax assets. Accordingly, a valuation allowance has been established against deferred tax assets to the extent that deductible temporary differences cannot be offset by taxable temporary differences. To the extent that the net book value of indefinite lived assets exceeds the net tax value of indefinite lived assets, an additional tax provision will be incurred as the assets are amortized.   The total amount of unrecognized tax benefits was $85,000 as of September 30, 2012 and December 31, 2011, all of which would affect the effective tax rate, if recognized, as of September 30, 2012.

WebMediaBrands is subject to legal proceedings and claims that arise in the ordinary course of its business. In the opinion of management, the amount of ultimate liability with respect to these actions should not materially affect the financial statements of WebMediaBrands.

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended September 30,</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended September 30,</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 48%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Stock options for employees</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">120</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">117</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">381</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">283</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in">Restricted stock for employees</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">1</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">57</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(1</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">89</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.25in">Total employee stock-based compensation</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">121</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">174</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">380</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">372</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shares</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted Average Exercise Price</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted Average Remaining Contractual Term (years)</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Aggregate Intrinsic Value</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 48%">Outstanding at December 31, 2011</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right">999,344</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">6.44</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 9%; text-align: right"> </td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">24,609</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left">$</td> <td style="text-align: right">6.08</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Exercised</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(67,953</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left">$</td> <td style="text-align: right">1.84</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Forfeited, expired or cancelled</td> <td> </td> <td style="text-align: left; border-bottom: Black 1pt solid"> </td> <td style="text-align: right; border-bottom: Black 1pt solid">(84,679</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left">$</td> <td style="text-align: right">4.65</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Outstanding at September 30, 2012</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">871,321</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">6.23</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">5.6</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">52,000</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Vested and expected to vest at September 30, 2012</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">842,272</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">6.27</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">5.5</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">52,000</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Exercisable at September 30, 2012</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">615,621</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">6.66</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">4.6</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">52,000</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shares</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Weighted Average Grant Date Fair Value</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-indent: -0.25in; padding-left: 0.25in">Outstanding nonvested shares at December 31, 2011</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 13%; text-align: right">18,949</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 13%; text-align: right">11.69</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.25in; padding-left: 0.25in">Granted</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left">$</td> <td style="text-align: right"></td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Vested</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(1,097</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left">$</td> <td style="text-align: right">11.69</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in">Forfeited</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(16,986</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="text-align: left">$</td> <td style="text-align: right">11.69</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.25in">Outstanding nonvested shares at September 30, 2012</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">866</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">11.69</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three Months Ended September 30,</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Nine Months Ended September 30,</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 48%; text-align: left; padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.25in">Net loss</td> <td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="width: 9%; border-bottom: Black 2.5pt double; text-align: right">(1,182</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td> <td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="width: 9%; border-bottom: Black 2.5pt double; text-align: right">(490</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td> <td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="width: 9%; border-bottom: Black 2.5pt double; text-align: right">(2,145</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td> <td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="width: 9%; border-bottom: Black 2.5pt double; text-align: right">(2,846</td> <td style="width: 1%; padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Basic weighted average number of common shares outstanding</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">6,009</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">6,082</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">5,983</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">5,765</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Effect of dilutive stock options</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"></td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: -22.5pt; padding-left: 22.5pt">Total basic weighted average number of common shares and dilutive stock options</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">6,009</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">6,082</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">5,983</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td> <td style="border-bottom: Black 2.5pt double; text-align: right">5,765</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-indent: -0.25in; padding-left: 0.25in">Loss per share:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.25in">Basic and diluted loss</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">(0.20</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">(0.08</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">(0.36</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">(0.49</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">September 30, 2012</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Cost</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accumulated Amortization</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Net Carrying Value</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 61%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Customer relationships</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">804</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">(379</td> <td style="width: 1%; text-align: left">)</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">425</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Website development costs</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">747</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(314</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">433</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Copyrights and trademarks</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">540</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(165</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">375</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Content development costs</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">155</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(154</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">1</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in">Non-compete agreements</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">97</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(97</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"></td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.5in">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">2,343</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">(1,109</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">1,234</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>     <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2011</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Cost</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Accumulated Amortization</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Net Carrying Value</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 61%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Customer relationships</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">804</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">(239</td> <td style="width: 1%; text-align: left">)</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 9%; text-align: right">565</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Copyrights and trademarks</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">534</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(79</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">455</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Website development costs</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">567</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(174</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">393</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Content development costs</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">165</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">(142</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">23</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in">Non-compete agreements</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">109</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(88</td> <td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">21</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.5in">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">2,179</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">(722</td> <td style="padding-bottom: 2.5pt; text-align: left">)</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">1,457</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"> <tr style="vertical-align: bottom"> <td> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">September 30, 2012</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December 31, 2011</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 70%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Accrued professional fees</td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 11%; text-align: right">117</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td> <td style="width: 11%; text-align: right">151</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Customer overpayments</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">96</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">96</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Accrued property and capital taxes</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">34</td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right">48</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: -0.25in; padding-left: 0.25in">Other</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">229</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">367</td> <td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt; text-indent: -0.25in; padding-left: 0.25in">Total</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">476</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">662</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

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8. INTANGIBLE ASSETS AND GOODWILL (Details Narrative) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
INTANGIBLE ASSETS AND GOODWILL
Amortization expense of intangible assets to amortized	$ 137,000	$ 160,000	$ 409,000	$ 371,000

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.

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6. ACCOUNTING FOR STOCK-BASED COMPENSATION (Details 3) (USD $)	9 Months Ended
	Sep. 30, 2012
Outstanding nonvested shares
Outstanding nonvested shares at December 31, 2011	18,949
Granted
Vested	(1,097)
Forfeited, expired or cancelled	(16,986)
Outstanding nonvested shares at September 30, 2012	866
Weighted Average Grant Date Fair Value
Outstanding nonvested shares at December 31, 2011	$ 11.69
Granted
Vested	$ 11.69
Forfeited, expired or cancelled	$ 11.69
Outstanding nonvested shares at September 30, 2012	$ 11.69

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4. SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2012

Segment Information

4. SEGMENT INFORMATION

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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8. INTANGIBLE ASSETS AND GOODWILL (Details 1) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
INTANGIBLE ASSETS AND GOODWILL
2012	$ 131
2013	375
2014	285
2015	236
2016	121
Thereafter	86
Total	$ 1,234	$ 1,457

XML 19 R28.htm IDEA: XBRL DOCUMENT

8. INTANGIBLE ASSETS AND GOODWILL (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Amortized Intangible Assets
Cost	$ 2,343	$ 2,179
Accumulated Amortization	(1,109)	(722)
Net Carrying Value	1,234	1,457
CustomerRelationshipsMember
Amortized Intangible Assets
Cost	804	804
Accumulated Amortization	(379)	(239)
Net Carrying Value	425	565
Website development costs [Member]
Amortized Intangible Assets
Cost	747	567
Accumulated Amortization	(314)	(174)
Net Carrying Value	433	393
CopyrightsAndTrademarksMember
Amortized Intangible Assets
Cost	540	534
Accumulated Amortization	(165)	(79)
Net Carrying Value	375	455
Content development costs [Member]
Amortized Intangible Assets
Cost	155	165
Accumulated Amortization	(154)	(142)
Net Carrying Value	1	23
Non-compete agreements [Member]
Amortized Intangible Assets
Cost	97	109
Accumulated Amortization	(97)	(88)
Net Carrying Value		$ 21

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8. INTANGIBLE ASSETS AND GOODWILL (Details 2) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Unamortized Intangible Assets
Domain names	$ 1,169	$ 1,169

XML 21 R31.htm IDEA: XBRL DOCUMENT

9. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Accrued Expenses And Other Current Liabilities
Accrued professional fees	$ 117	$ 151
Customer overpayments	96	96
Accrued property and capital taxes	34	48
Other	229	367
Total Cuurent Liabilties	$ 476	$ 662

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable for real and property taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 43

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-Chapter 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 20

-Article 5

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-Glossary Current Liabilities

-URI http://asc.fasb.org/extlink&oid=6509677

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-Name Accounting Research Bulletin (ARB)

-Number 43

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 43

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-Chapter 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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3. RECENT ACCOUNTING PRONOUNCEMENTS

9 Months Ended

Sep. 30, 2012

Recent Accounting Pronouncements

3. RECENT ACCOUNTING PRONOUNCEMENTS

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

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+ Details

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6. ACCOUNTING FOR STOCK-BASED COMPENSATION (Details Narrative) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Stock Based Compensation
Employee stock-based compensation increased additional paid-in capital			$ 380,000
Weighted-average grant date fair value of stock options granted			$ 4.20	$ 5.60
Closing Stock Price	$ 2.29		$ 2.29
Total intrinsic value	8,000	19,000	246,000	566,000
Total unrecognized compensation cost	$ 679,000		$ 679,000
Amortized weighted-average period			21 months

XML 24 R2.htm IDEA: XBRL DOCUMENT

Consolidated Condensed Balance Sheets (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 2,479	$ 3,438
Accounts receivable, net of allowances of $37 and $11, respectively	617	489
Prepaid expenses and other current assets	583	575
Total current assets	3,679	4,502
Property and equipment, net of accumulated depreciation of $1,582 and $1,350, respectively	346	477
Intangible assets, net	2,403	2,626
Goodwill	15,116	15,116
Investments and other assets	794	1,146
Total assets	22,338	23,867
Current liabilities:
Accounts payable	362	367
Accrued payroll and related expenses	397	391
Accrued expenses and other current liabilities	476	662
Deferred revenues	1,555	1,288
Total current liabilities	2,790	2,708
Loan from related party	7,647	7,647
Deferred revenues	20	22
Deferred income taxes	470	444
Other long-term liabilities	63	60
Total liabilities	10,990	10,881
Commitments and contingencies (see note 12)
Stockholders' equity:
Preferred stock, $.01 par value, 4,000,000 shares authorized, no shares issued and outstanding
Common stock, $.01 par value, 18,750,000 shares authorized, 6,128,879 and 6,077,957 shares issued and 6,009,594 and 5,958,672 shares outstanding at September 30, 2012 and December 31, 2011, respectively	61	61
Additional paid-in capital	289,543	289,036
Accumulated deficit	(277,760)	(275,615)
Treasury stock, 119,285 shares, at cost	(496)	(496)
Total stockholders' equity	11,348	12,986
Total liabilities and stockholders' equity	$ 22,338	$ 23,867

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1. THE COMPANY

9 Months Ended

Sep. 30, 2012

Company

Note 1. THE COMPANY

10,000Words

AppNewser

GalleyCat

SocialTimes

AgencySpy

FishbowlDC

LostRemote

TVNewser

AllFacebook

AllTwitter

FishbowlLA

FishbowlNY

MediaJobsDaily PRNewser

TVSpy

UnBeige

AppData	Inside Social Games	PageData
Inside Facebook	Inside Virtual Goods	Social App Research Service
Inside Mobile Apps	Mobile App Research Service	The Facebook Marketing Bible

SemanticWeb.com, a blog providing content, education, community resources and career resources on the commercialization and application of Semantic Technologies, Linked Data and Big Data; and

AllCreativeWorld.com, a network of online properties providing content, education, community, career and other resources for creative and design professionals that includes the following:

AdsoftheWorld

BrandsoftheWorld

Creativebits

DynamicGraphics

Graphics.com

GraphicsDesignForum

LiquidTreat

StockLogos

The Company’s trade shows include, among others, the Semantic Tech and Business Conference, Inside Social Apps, Social Gaming Summit and the AllFacebook Marketing Conference.

XML 26 R35.htm IDEA: XBRL DOCUMENT

11. INCOME TAXES (Details Narrative) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Income Taxes
Provision for income taxes	$ 11	$ (437)	$ 30	$ (417)

- Definition

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations.

+ References+ Details

XML 27 R22.htm IDEA: XBRL DOCUMENT

6. ACCOUNTING FOR EMPLOYEE STOCK-BASED COMPENSATION (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
5. Stock Based Compensation
Stock options for employees	$ 120	$ 117	$ 381	$ 283
Restricted stock for employees	1	57	(1)	89
Total employee stock-based compensation	$ 121	$ 174	$ 380	$ 372

- Definition

The noncash expense that accounts for the value of stock or unit options distributed to employees as compensation.

+ References+ Details

XML 28 R36.htm IDEA: XBRL DOCUMENT

11. INCOME TAXES (Details Narrative 2) (USD $)	Sep. 30, 2012	Dec. 31, 2011
Income Taxes Details Narrative 2
Unrecognized Tax Benefits	$ 85,000	$ 85,000

XML 29 R24.htm IDEA: XBRL DOCUMENT

6. ACCOUNTING FOR EMPLOYEE STOCK-BASED COMPENSATION (Details 2) (USD $)	9 Months Ended
	Sep. 30, 2012
Share Based Activity
Outstanding at December 31, 2011	999,344
Granted	24,609
Exercised	(67,953)
Forfeited, expired or cancelled	(84,679)
Outstanding at September 30, 2012	871,321
Vested and expected to vest at September 30, 2012	842,272
Exercisable at September 30, 2012	615,621
Weighted Average Exercise Price
Beginning Balance	$ 6.44
Granted	$ 6.08
Exercised	$ 1.84
Forfeited, expired or cancelled	$ 4.65
Ending Balance	$ 6.23
Vested and expected to vest at September 30, 2012	$ 6.27
Exercisable at the end of the period	$ 6.66
Outstanding at September 30, 2012 (years)	5 years 7 months 12 days
Vested and expected to vest by at September 30, 2012 (years)	5 years 6 months
Exerciseable at the end of the period (years)	4 years 7 months 12 days
Aggregate intrinsic value
Outstanding at September 30, 2012	$ 52,000
Vested and expected to vest at September 30, 2012	52,000
Exercisable at the end of the period	$ 52,000

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2. BASIS OF PRESENTATION

9 Months Ended

Sep. 30, 2012

Basis Of Presentation

2. BASIS OF PRESENTATION

XML 32 R3.htm IDEA: XBRL DOCUMENT

Consolidated Condensed Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Statement of Financial Position [Abstract]
Allowance for accounts receivable (in Dollars)	$ 37	$ 11
Accumulated depreciation Property and equipment(in Dollars)	$ 1,582	$ 1,350
Preferred stock par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	4,000,000	4,000,000
Preferred stock, shares issued
Common stock par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized	18,750,000	18,750,000
Common stock shares issued	6,128,879	6,077,957
Common stock shares outstanding	6,009,594	5,958,672
Treasury stock shares	119,285	119,285

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12. COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2012

Commitments And Contingencies

12. COMMITMENTS AND CONTINGENCIES

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

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-SubTopic 20

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-Name FASB Interpretation (FIN)

-Number 14

-Paragraph 3

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-Topic 210

-SubTopic 10

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+ Details

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Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2012	Nov. 01, 2012
Document And Entity Information
Entity Registrant Name	WEBMEDIABRANDS INC.
Entity Central Index Key	0001083712
Document Type	10-Q
Document Period End Date	Sep. 30, 2012
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		6,013,165
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2012

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6. ACCOUNTING FOR EMPLOYEE STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2012

Accounting For Employee Stock-Based Compensation Tables

Employee stock-based compensation

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012			2011
Stock options for employees	$	120	$	117	$	381		$	283
Restricted stock for employees		1		57		(1	)		89
Total employee stock-based compensation	$	121	$	174	$	380		$	372

The fair value of each stock option grant is estimated using the Black-Scholes option pricing model

	Nine Months Ended September 30,
	2012		2011
Risk-free interest rate		0.93%		1.35%
Expected life (in years)		6.0		6.0
Dividend yield		0%		0%
Expected volatility		99%		94%

Stock option activity summary

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at December 31, 2011		999,344		$	6.44
Granted		24,609		$	6.08
Exercised		(67,953	)	$	1.84
Forfeited, expired or cancelled		(84,679	)	$	4.65
Outstanding at September 30, 2012		871,321		$	6.23		5.6		52,000
Vested and expected to vest at September 30, 2012		842,272		$	6.27		5.5		52,000
Exercisable at September 30, 2012		615,621		$	6.66		4.6		52,000

Restricted stock activity summary

	Shares			Weighted Average Grant Date Fair Value
Outstanding nonvested shares at December 31, 2011		18,949		$	11.69
Granted		–		$	–
Vested		(1,097	)	$	11.69
Forfeited		(16,986	)	$	11.69
Outstanding nonvested shares at September 30, 2012		866		$	11.69

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Unaudited Consolidated Condensed Statements of Operations (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Income Statement [Abstract]
Revenues	$ 2,917	$ 3,008	$ 10,642	$ 9,054
Cost of revenues	1,678	1,686	5,830	5,257
Advertising, promotion and selling	614	472	1,920	1,537
General and administrative	1,306	1,359	3,938	4,080
Depreciation	78	77	238	242
Amortization	137	160	409	371
Contingent acquisition consideration				329
Total operating expenses	3,813	3,754	12,335	11,816
Operating loss	(896)	(746)	(1,693)	(2,762)
Other loss, net	(213)	(4)	(216)	(7)
Interest income	1	1	3	41
Interest expense	(63)	(178)	(209)	(535)
Loss before income taxes	(1,171)	(927)	(2,115)	(3,263)
Provision (benefit) for income taxes	11	(437)	30	(417)
Net loss	$ (1,182)	$ (490)	$ (2,145)	$ (2,846)
Loss per share:
Basic net loss	$ (0.20)	$ (0.08)	$ (0.36)	$ (0.49)
Diluted net loss	$ (0.20)	$ (0.08)	$ (0.36)	$ (0.49)
Weighted average shares used in computing loss per share:
Basic	6,009	6,082	5,983	5,765
Diluted	6,009	6,082	5,983	5,765

XML 37 R12.htm IDEA: XBRL DOCUMENT

7. COMPUTATION OF LOSS PER SHARE

9 Months Ended

Sep. 30, 2012

Computation Of Loss Per Share

7. COMPUTATION OF LOSS PER SHARE

Shares outstanding and per share data below have been adjusted to give effect to the one-for-seven reverse stock split implemented on August 16, 2012 as described in note 5 above.

Computations of basic and diluted loss per share for the periods presented are as follows (in thousands, except per share amounts):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Net loss	$	(1,182	)	$	(490	)	$	(2,145	)	$	(2,846	)

Basic weighted average number of common shares outstanding		6,009			6,082			5,983			5,765
Effect of dilutive stock options		–			–			–			–
Total basic weighted average number of common shares and dilutive stock options		6,009			6,082			5,983			5,765

Loss per share:
Basic and diluted loss	$	(0.20	)	$	(0.08	)	$	(0.36	)	$	(0.49	)

	Nine Months Ended September 30,
	2012		2011
Number of anti-dilutive stock options		871		773
Weighted average exercise price	$	6.23	$	7.21

- Definition

The entire disclosure for earnings per share.

+ References+ Details

XML 38 R11.htm IDEA: XBRL DOCUMENT

6. ACCOUNTING FOR EMPLOYEE STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 2012

Accounting For Employee Stock-Based Compensation

6. ACCOUNTING FOR EMPLOYEE STOCK-BASED COMPENSATION

Shares outstanding and per share data below have been adjusted to give effect to the one-for-seven reverse stock split implemented on August 16, 2012 as described in note 5 above.

Total employee stock-based compensation is as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012			2011
Stock options for employees	$	120	$	117	$	381		$	283
Restricted stock for employees		1		57		(1	)		89
Total employee stock-based compensation	$	121	$	174	$	380		$	372

Stock-based compensation increased additional paid-in capital by $380,000 during the nine months ended September 30, 2012.

	Nine Months Ended September 30,
	2012		2011
Risk-free interest rate		0.93%		1.35%
Expected life (in years)		6.0		6.0
Dividend yield		0%		0%
Expected volatility		99%		94%

The weighted-average grant date fair value of stock options granted during the nine months ended September 30, 2012 and 2011 was $4.20 and $5.60, respectively.

The following table summarizes stock option activity during the nine months ended September 30, 2012:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Outstanding at December 31, 2011		999,344		$	6.44
Granted		24,609		$	6.08
Exercised		(67,953	)	$	1.84
Forfeited, expired or cancelled		(84,679	)	$	4.65
Outstanding at September 30, 2012		871,321		$	6.23		5.6		52,000
Vested and expected to vest at September 30, 2012		842,272		$	6.27		5.5		52,000
Exercisable at September 30, 2012		615,621		$	6.66		4.6		52,000

The following table summarizes restricted stock activity during the nine months ended September 30, 2012:

	Shares			Weighted Average Grant Date Fair Value
Outstanding nonvested shares at December 31, 2011		18,949		$	11.69
Granted		–		$	–
Vested		(1,097	)	$	11.69
Forfeited		(16,986	)	$	11.69
Outstanding nonvested shares at September 30, 2012		866		$	11.69

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

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-Name Staff Accounting Bulletin (SAB)

-Number Topic 14

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-Name Statement of Position (SOP)

-Number 93-6

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6. ACCOUNTING FOR STOCK-BASED COMPENSATION (Details 1)	9 Months Ended
6. ACCOUNTING FOR STOCK-BASED COMPENSATION (Details 1)	Sep. 30, 2012	Sep. 30, 2011
The fair value of each stock option grant is estimated using the Black-Scholes option pricing model to estimate
Risk-free interest rate	0.93%	1.35%
Expected life (in years)	6 years	6 years
Dividend yield	0.00%	0.00%
Expected volatility	99.00%	94.00%

- Definition

The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.

+ References+ Details

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7. COMPUTATION OF LOSS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2012

Computation Of Loss Per Share Tables

Computations of basic and diluted loss per share

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Net loss	$	(1,182	)	$	(490	)	$	(2,145	)	$	(2,846	)

Basic weighted average number of common shares outstanding		6,009			6,082			5,983			5,765
Effect of dilutive stock options		–			–			–			–
Total basic weighted average number of common shares and dilutive stock options		6,009			6,082			5,983			5,765

Loss per share:
Basic and diluted loss	$	(0.20	)	$	(0.08	)	$	(0.36	)	$	(0.49	)

Number of Outstanding stock options excluded from diluted loss per share

	Nine Months Ended September 30,
	2012		2011
Number of anti-dilutive stock options		871		773
Weighted average exercise price	$	6.23	$	7.21

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10. DEBT

9 Months Ended

Sep. 30, 2012

Debt

10. DEBT

On May 29, 2009, WebMediaBrands entered into a loan agreement in the amount of $7.2 million with the Company’s Chief Executive Officer, Alan M. Meckler (the “2009 Meckler Loan”).

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

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8. INTANGIBLE ASSETS AND GOODWILL

9 Months Ended

Sep. 30, 2012

Intangible Assets And Goodwill

8. INTANGIBLE ASSETS AND GOODWILL

Amortized Intangible Assets

The following tables set forth the intangible assets that are subject to amortization, including the related accumulated amortization (in thousands):

	September 30, 2012
	Cost		Accumulated Amortization			Net Carrying Value
Customer relationships	$	804	$	(379	)	$	425
Website development costs		747		(314	)		433
Copyrights and trademarks		540		(165	)		375
Content development costs		155		(154	)		1
Non-compete agreements		97		(97	)		–
Total	$	2,343	$	(1,109	)	$	1,234

	December 31, 2011
	Cost		Accumulated Amortization			Net Carrying Value
Customer relationships	$	804	$	(239	)	$	565
Copyrights and trademarks		534		(79	)		455
Website development costs		567		(174	)		393
Content development costs		165		(142	)		23
Non-compete agreements		109		(88	)		21
Total	$	2,179	$	(722	)	$	1,457

Years Ending December 31:
2012	$	131
2013		375
2014		285
2015		236
2016		121
Thereafter		86
	$	1,234

Unamortized Intangible Assets

The following tables set forth the intangible assets that are not subject to amortization (in thousands):

	September 30, 2012		December 31, 2011
Domain names	$	1,169	$	1,169

Goodwill

There were no changes in the carrying amount of goodwill for the nine months ended September 30, 2012.

- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References+ Details

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9. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

9 Months Ended

Sep. 30, 2012

Accrued Expenses And Other Current Liabilities

9. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consist of the following (in thousands):

	September 30, 2012		December 31, 2011
Accrued professional fees	$	117	$	151
Customer overpayments		96		96
Accrued property and capital taxes		34		48
Other		229		367
Total	$	476	$	662

XML 44 R16.htm IDEA: XBRL DOCUMENT

11. INCOME TAXES

9 Months Ended

Sep. 30, 2012

Income Taxes

11. INCOME TAXES

The total amount of unrecognized tax benefits was $85,000 as of September 30, 2012 and December 31, 2011, all of which would affect the effective tax rate, if recognized, as of September 30, 2012.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 136, 172

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

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-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

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-SubTopic 10

-Section 50

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-Section 50

-Paragraph 3

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+ Details

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10. DEBT (Details Narrative) (USD $)	3 Months Ended		9 Months Ended
10. DEBT (Details Narrative) (USD $)	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Debt Instrument [Line Items]
Interest Expense on Meckler Loans	$ 53,000	$ 171,000	$ 182,000	$ 513,000
MecklerLoansMember
Debt Instrument [Line Items]
Future minimum payments due in the year ended December 31, 2014	189,000		189,000
Future minimum payments due in the year ended December 31, 2015	419,000		419,000
Future minimum payments due in the year ended December 31, 2016	$ 7,000,000		$ 7,000,000

XML 46 R21.htm IDEA: XBRL DOCUMENT

9. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2012

Accrued Expenses And Other Current Liabilities Tables

Accrued expenses and other current liabilities

	September 30, 2012		December 31, 2011
Accrued professional fees	$	117	$	151
Customer overpayments		96		96
Accrued property and capital taxes		34		48
Other		229		367
Total	$	476	$	662

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7. COMPUTATION OF LOSS PER SHARE (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Computation Of Loss Per Share
Net loss	$ (1,182)	$ (490)	$ (2,145)	$ (2,846)
Basic weighted average number of common shares outstanding	6,009	6,082	5,983	5,765
Effect of dilutive stock options
Total basic weighted average number of common shares and dilutive stock options	6,009	6,082	5,983	5,765
Loss per share
Basic and diluted net loss	$ (0.02)	$ (0.08)	$ (0.36)	$ (0.49)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 19

-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

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-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=6519514

Reference 5: http://www.xbrl.org/2003/role/presentationRef

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-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

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-Number 130

-Paragraph 10, 15

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-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

Reference 8: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=6518256

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-Name Emerging Issues Task Force (EITF)

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-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

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-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

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-Topic 220

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

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-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph A7

-Appendix A

Reference 15: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph a

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Reference 16: http://www.xbrl.org/2003/role/presentationRef

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-Number 51

-Paragraph 38

-Subparagraph d

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+ Details

- Definition

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References+ Details

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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-Topic 260

-SubTopic 10

-Section 45

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256

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-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

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Reference 6: http://www.xbrl.org/2003/role/presentationRef

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Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Weighted-Average Number of Common Shares Outstanding

-URI http://asc.fasb.org/extlink&oid=6528421

+ Details

XML 48 R5.htm IDEA: XBRL DOCUMENT

Unaudited Consolidated Condensed Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Cash flows from operating activities:
Net loss	$ (2,145)	$ (2,846)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	647	613
Stock-based compensation	380	372
Other, net	210	(3)
Amortization of debt issuance cost	27	22
Deferred income taxes	25	(422)
Provision for losses on accounts receivable	27	15
Changes in assets and liabilities (net of businesses acquired):
Accounts receivable, net	(155)	(53)
Prepaid expenses and other assets	130	434
Accounts payable, accrued expenses and other liabilities	(195)	(566)
Deferred revenues	265	309
Net cash used in operating activities	(784)	(2,125)
Cash flows from investing activities:
Purchases of property and equipment	(91)	(39)
Acquisitions of businesses, assets and other	(186)	(9,020)
Net cash used in investing activities	(277)	(9,059)
Cash flows from financing activities:
Deft issuance costs	(23)
Repayment of borrowings from related party		(50)
Proceeds from exercise of stock options	125	144
Net cash provided by financing activities	102	94
Net decrease in cash and cash equivalents	(959)	(11,090)
Cash and cash equivalents, beginning of period	3,438	12,970
Cash and cash equivalents, end of period	$ 2,479	$ 1,880

XML 49 R10.htm IDEA: XBRL DOCUMENT

5. REVERSE STOCK SPLIT AND AUTHORIZED COMMON STOCK

9 Months Ended

Sep. 30, 2012

Equity [Abstract]

5. REVERSE STOCK SPLIT AND AUTHORIZED COMMON STOCK

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Regulation S-X (SX)

-Number 210

-Section 04

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-Glossary Preferred Stock

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-Name Accounting Principles Board Opinion (APB)

-Number 12

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-Number 210

-Section 08

-Article 4

+ Details

XML 50 R27.htm IDEA: XBRL DOCUMENT

7. COMPUTATION OF LOSS PER SHARE (Details 1) (Number of shares in thousands) (USD $)	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Notes to Financial Statements
Number of anti-dilutive stock options	871	773
Weighted average exercise price	$ 6.23	$ 7.21

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

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-Publisher FASB

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-Glossary Diluted Earnings Per Share

-URI http://asc.fasb.org/extlink&oid=6510752

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-Name Accounting Standards Codification

-Glossary Contingent Stock Agreement

-URI http://asc.fasb.org/extlink&oid=6508534

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-Glossary Antidilution

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

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8. INTANGIBLE ASSETS AND GOODWILL (Tables)
9 Months Ended

Sep. 30, 2012

Intangible Assets And Goodwill Tables

Intangible assets that are subject to amortization

September 30, 2012

Cost Accumulated
Amortization Net
Carrying
Value

Customer relationships $ 804 $ (379 ) $ 425

Website development costs 747 (314 ) 433

Copyrights and trademarks 540 (165 ) 375

Content development costs 155 (154 ) 1

Non-compete agreements 97 (97 ) –

Total $ 2,343 $ (1,109 ) $ 1,234

December 31, 2011

Cost Accumulated
Amortization Net
Carrying
Value

Customer relationships $ 804 $ (239 ) $ 565

Copyrights and trademarks 534 (79 ) 455

Website development costs 567 (174 ) 393

Content development costs 165 (142 ) 23

Non-compete agreements 109 (88 ) 21

Total $ 2,179 $ (722 ) $ 1,457

Estimated annual amortization expense for the next five years

Years Ending December 31:

2012 $ 131

2013 375

2014 285

2015 236

2016 121

Thereafter 86

Intangible assets that are not subject to amortization

September 30,
2012 December 31,
2011

Domain names $ 1,169 $ 1,169

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Tabular disclosure of the estimated aggregate amortization expense for intangible assets subject to amortization for each of the five succeeding fiscal years.

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