Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS

v2.4.0.6
BALANCE SHEETS (USD $)
Dec. 31, 2012
Dec. 31, 2011
ASSETS    
Cash and cash equivalents $ 2,623,016 $ 1,280,926
Accounts receivable, net 738,044 2,889,658
Prepaid expenses and other current assets 191,406 787,290
Note receivable, current 2,410 6,668
Total current assets 3,554,876 4,964,542
Property and equipment, net of accumulated depreciation and amortization of $292,301 and $264,837 39,226 40,440
Note receivable, long-term 3,885 4,287
Other assets 6,281 6,281
Total assets 3,604,268 5,015,550
LIABILITIES & STOCKHOLDERS' EQUITY    
Accounts payable 111,585 998,160
Commissions payable 806,133 679,498
Accrued payroll and related liabilities 269,716 247,885
Deferred revenue 220,424 939,783
Other accrued liabilities 48,401 107,235
Income taxes payable    2,800
Total current liabilities 1,456,259 2,975,361
Stockholders' equity:    
Common stock, $0.01 par value, 30,000,000 shares authorized, 12,844,376 and 12,839,376 shares issued, 11,201,760 and 11,196,760 shares outstanding as of December 31, 2012 and December 31, 2011, respectively 128,443 128,393
Additional paid-in capital 14,581,475 14,574,128
Accumulated deficit (11,631,698) (11,732,121)
Treasury stock, 1,642,616 shares at cost at December 31, 2012 and 2011 (930,211) (930,211)
Total stockholders' equity 2,148,009 2,040,189
Total liabilities and stockholders' equity $ 3,604,268 $ 5,015,550