v2.4.0.8
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 13,968 $ 13,362
Restricted cash 370 369
Accounts receivable 906 1,705
Prepaid expenses 1,615 2,133
Inventory 519 578
Income tax receivable 15 150
Deferred tax assets 3,470 3,672
Current assets before funds held for clients 20,863 21,969
Funds held for clients 315,629 455,779
Total current assets 336,492 477,748
Property, plant and equipment, net of accumulated depreciation of $14.1 million and $11.5 million, respectively 45,358 38,671
Deposits and other assets 554 461
Goodwill 51,889 51,889
Intangible assets, net of accumulated amortization of $11.3 million and $10.5 million, respectively 5,902 6,709
Total assets 440,195 575,478
Current liabilities:    
Accounts payable 2,620 5,020
Accrued commissions and bonuses 1,579 3,598
Accrued payroll and vacation 3,492 3,087
Deferred revenue 1,941 1,582
Current portion of long-term debt 893 9,545
Accrued expenses and other current liabilities 3,244 4,372
Current liabilities before client funds obligation 13,769 27,204
Client funds obligation 315,629 455,779
Total current liabilities 329,398 482,983
Deferred tax liabilities 3,081 2,895
Long-term deferred revenue 13,350 10,990
Long-term debt, less current portion 26,528 11,545
Long-term debt to related parties   60,875
Derivative liability   1,107
Total long-term liabilities 42,959 87,412
Commitments and contingencies      
Stockholders' equity:    
Common stock, $0.01 par value (100,000,000 shares authorized, 51,041,157 and 45,708,573 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively) 510 457
Additional paid in capital 66,861 33,978
Retained earnings (accumulated deficit) 467 (29,349)
Total parent's stockholders' equity 67,838 5,086
Noncontrolling interest   (3)
Total stockholders' equity 67,838 5,083
Total liabilities and stockholders' equity $ 440,195 $ 575,478