Quarterly report pursuant to Section 13 or 15(d)

BALANCE SHEETS (Unaudited)

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BALANCE SHEETS (Unaudited) (USD $)
Sep. 30, 2012
Dec. 31, 2011
ASSETS    
Cash and cash equivalents $ 2,312,035 $ 1,280,926
Accounts receivable, net 936,097 2,889,658
Prepaid expenses 158,177 787,290
Note receivable - employees 2,389 6,668
Total current assets 3,408,698 4,964,542
Fixed assets, net 36,085 40,440
Note receivable - employee 4,496 4,287
Other assets 6,281 6,281
Total assets 3,455,560 5,015,550
LIABILITIES & STOCKHOLDERS' EQUITY    
Accounts payable 91,661 998,160
Commissions payable 794,448 679,498
Accrued payroll and related liabilities 278,499 247,885
Deferred revenue 130,250 939,783
Other accrued liabilities 42,651 107,235
Income taxes payable 0 2,800
Total current liabilities 1,337,509 2,975,361
Stockholders' equity:    
Common stock, par value $0.01, 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 September 30, 2012 and December 31, 2011, respectively 128,443 128,393
Additional paid-in capital 14,579,624 14,574,128
Accumulated deficit (11,659,805) (11,732,121)
Treasury stock, 1,642,616 shares at cost (930,211) (930,211)
Total stockholders' equity 2,118,051 2,040,189
Total liabilities and stockholders' equity $ 3,455,560 $ 5,015,550