XML 41 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operations:    
Net income $ 19,637,038 $ 14,057,634
Adjustments to reconcile net income to net cash provided by operating activities:    
Net Income attributable to Noncontrolling Interest 2,428   
Depreciation and amortization 1,966,624 1,541,143
Accrued interest (816,543) (575,613)
LTRP accrued compensation 1,849,633 1,170,710
Deferred income taxes (190,810) 316,866
Changes in assets and liabilities:    
Accounts receivable 1,803,522 (378,620)
Credit Card Receivables (116,468) 479,325
Prepaid expenses (673,723) 71,641
Other assets 493,886 (70,095)
Accounts payable and accrued expenses (6,375,961) (4,754,255)
Funds payable to customers (159,063) 3,072,102
Provisions 1,407,480 18,026
Other liabilities 158,139 220,113
Net cash provided by operating activities 18,986,182 15,168,977
Cash flows from investing activities:    
Purchase of investments (86,658,793) (99,069,739)
Proceeds from sale and maturity of investments 83,583,664 80,823,544
Purchases of intangible assets (31,508) (73,405)
Purchases of property and equipment (3,696,281) (2,886,154)
Net cash used in investing activities (6,802,918) (21,205,754)
Cash flows from financing activities:    
Dividends paid (3,531,362)  
Stock options exercised   885
Net cash used in financing activities (3,531,362) 885
Effect of exchange rate changes on cash and cash equivalents (158,641) 173,684
Net increase in cash and cash equivalents 8,493,261 (5,862,208)
Cash and cash equivalents, beginning of the period 67,381,677 56,830,466
Cash and cash equivalents, end of the period 75,874,938 50,968,258
Supplemental cash flow information:    
Cash paid for interest 20,646 13,889
Cash paid for income and asset taxes $ 10,015,712 $ 7,898,283