CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 6,929	$ 2,002
Restricted cash	0	400
Available-for-sale securities	63,962	59,502
Foreign currency exchange contracts	2	0
Prepaid program costs and expenses	12,203	1,335
Accounts receivable	405	666
Total current assets	83,501	63,905
Property and equipment, net	1,442	2,429
Goodwill	70	70
Other long-term assets	37	81
Total assets	85,050	66,485
Current liabilities:
Accounts payable and accrued expenses	4,431	2,794
Participants' deposits	33,219	23,161
Foreign currency exchange contracts	326	1,345
Deferred tax liabilities	17	18
Other liabilities	187	1
Total current liabilities	38,180	27,319
Participants' deposits	87	0
Deferred tax liabilities	6	6
Total liabilities	$ 38,273	$ 27,325
Commitments and Contingencies (Note 11)
STOCKHOLDERS' EQUITY
Preferred stock, $.01 par value; 2,000,000 shares authorized; none issued and outstanding	$ 0	$ 0
Common stock, $.01 par value; 50,000,000 shares authorized; 17,067,907 and 16,944,812 shares issued and outstanding, respectively	173	173
Additional paid-in capital	2,045	1,630
Retained earnings	44,936	38,334
Accumulated other comprehensive loss	(377)	(977)
Stockholders' equity	46,777	39,160
Total liabilities and stockholders' equity	$ 85,050	$ 66,485

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.