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Consolidated Balance Sheets (USD $)
Jun. 30, 2014
Dec. 31, 2013
ASSETS    
Cash and cash equivalents $ 27,237,563 $ 33,106,972
Investment portfolio 36,091,706 18,726,070
Accounts receivable 14,480,571 13,002,295
Prepaid expenses 1,340,927 1,489,713
Furniture and equipment, net of depreciation 898,744 964,943
Income tax receivable 1,704,063 0
Deferred taxes 5,631,764 8,063,425
Total assets 87,385,338 75,353,418
Liabilities    
Accounts payable and accrued expenses 4,030,471 4,049,240
Accrued incentive compensation 13,117,000 19,606,881
Deferred compensation 5,394,414 1,287,745
Income taxes payable 0 5,466,562
Total liabilities 22,541,885 30,410,428
Commitments and contingencies 0 0
Shareholders’ Equity    
Common stock, no par value 7,000,000 shares authorized; 3,306,084 issued and outstanding at June 30, 2014 (inclusive of 314,612 unvested shares); 3,257,247 issued and outstanding at December 31, 2013 (inclusive of 312,099 unvested shares) 80,589,385 72,642,933
Preferred stock, undesignated, 1,000,000 shares authorized and unissued 0 0
Deferred equity compensation (12,121,182) (11,397,560)
Accumulated deficit (3,624,750) (16,302,383)
Total shareholders’ equity 64,843,453 44,942,990
Total liabilities and shareholders’ equity $ 87,385,338 $ 75,353,418
Book value per share $ 19.61 $ 13.80