XML 36 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income (loss) $ 149,456 $ (307,477)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 11,764 21,931
Goodwill impairment 0 314,531
Loss on disposal of assets 0 69,469
Provision for income taxes 15,849 (26,557)
(Increase) decrease in: Accounts receivable (375,704) 2,896
Prepaids & Other 64,082 53,683
Severance escrow (3,086) (24,501)
Increase (decrease) in: Accounts Payable 41,035 3,310
Commissions Payable 368,734 80,142
Other liabilities 240,859 78,399
Net cash provided by operating activities 512,989 265,826
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (17,751) (3,908)
Proceeds from sale of building 0 931,245
Net cash (used in) provided by investing activities (17,751) 927,337
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayments of long-term liability (125,668) (61,590)
Increase in Settlements payable 22,000 0
Repayment of promissory note (67,173) (1,048,235)
Net cash used in financing activities (170,841) (1,109,825)
NET INCREASE IN CASH AND CASH EQUIVALENTS 324,397 83,338
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 1,221,606 929,030
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 1,546,003 $ 1,012,368