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Consolidated Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
ASSETS    
Cash and cash equivalents $ 33,106,972 $ 7,870,908
Investment portfolio 18,726,070 16,503,731
Accounts receivable 13,002,295 10,438,598
Prepaid expenses 1,489,713 953,526
Furniture and equipment, net of depreciation 964,943 745,476
Income tax receivable 0 2,271,704
Deferred taxes 8,063,425 2,451,974
Total assets 75,353,418 41,235,917
Liabilities    
Accounts payable and accrued expenses 4,049,240 2,797,483
Accrued incentive compensation 19,606,881 15,908,083
Deferred compensation liability 1,287,745 794,644
Income taxes payable 5,466,562 0
Total liabilities 30,410,428 19,500,210
Commitments and contingencies      
Shareholders’ Equity    
Common stock, no par value 7,000,000 shares authorized; 3,257,247 issued and outstanding at December 31, 2013 (inclusive of 312,099 unvested shares); 3,169,987 issued and outstanding at December 31, 2012 (inclusive of 319,988 unvested shares) 72,642,933 65,255,813
Preferred stock, undesignated, 1,000,000 shares authorized and unissued 0 0
Deferred equity compensation (11,397,560) (14,829,470)
Accumulated deficit (16,302,383) (28,690,636)
Total shareholders’ equity 44,942,990 21,735,707
Total liabilities and shareholders’ equity $ 75,353,418 $ 41,235,917
Book value per share $ 13.80 $ 6.86