With Comparative Totals for the Year Ended September 30, 2010
| |
2011
|
2010
|
Cash Flows from Operating Activities
|
|
|
Increase in Net Assets
|
$ 969,909
|
$ 1,577,842
|
Adjustments to Reconcile Increase in Net Assets to Net Cash Provided by Operating Activities
|
|
|
Depreciation and Amortization
|
195,277
|
143,115
|
Deferred Rent
|
(33,565)
|
(26,796)
|
Allowance for Doubtful Accounts
|
—
|
(86,233)
|
Loss on Disposal of Property and Equipment
|
—
|
5,640
|
(Increase) Decrease in Assets
|
|
|
Accounts Receivable
|
(105,470)
|
(42,547)
|
Prepaid Expenses and Other Current Assets
|
364,801
|
(406,139)
|
Increase (Decrease) in Liabilities
|
|
|
Accrued Expenses and Other Current Liabilities
|
(389,626)
|
303,485
|
Deferred Revenues
|
41,876
|
859,629
|
Net Cash Provided by Operating Activities
|
1,043,202
|
2,327,996
|
Cash Flows from Investing Activities
|
|
|
Purchases of Property and Equipment and Intangible Assets
|
(398,445)
|
(185,241)
|
Maturities of Certificates of Deposit
|
640,495
|
3,419,604
|
Purchases of Investments
|
—
|
(1,232,362)
|
Net Cash Provided by Investing Activities
|
242,050
|
2,002,001
|
Cash Flows from Financing Activities
|
|
|
Capital Lease Payments
|
(14,439)
|
3,295
|
Net Increase in Cash Equivalents
|
1,270,813
|
4,333,292
|
Cash Equivalents, Beginning of Year
|
5,619,821
|
1,286,529
|
Cash Equivalents, End of Year
|
$ 6,890,634
|
$ 5,619,821
|
Supplementary Disclosure of Cash Flow Information
|
|
|
Cash Paid During the Year for Interest
|
$ 12,454
|
$ 11,416
|
See accompanying Notes to Financial Statements.