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Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Operating activities:        
Net income (loss) for the period $ 565,659 $ (771,778) $ 1,293,605 $ (202,912)
Items not involving cash:        
Depreciation of property and equipment 258,584 296,488 541,452 650,435
Amortization of deferred financing charges 3,700 6,700 8,100 14,100
Amortization of intangible assets 284,180 435,342 610,460 870,684
Deferred rent 7,019 0 13,964 0
Disposal of domain names 7,896 4,434 21,091 12,006
Unrealized loss in the fair value of forward exchange contracts 193,157 1,924,985 305,861 1,811,012
Stock-based compensation 53,399 101,273 127,730 157,902
Changes in non-cash operating working capital:        
Accounts receivable 104,241 311,895 (1,128,564) (563,605)
Prepaid expenses and deposits (702,002) (66,785) (1,223,649) (428,487)
Prepaid fees for domain name registry and ancillary services fees (1,749,343) (815,103) (3,749,582) (3,430,672)
Income taxes recoverable 25,000 (24,000) 160,000 292,000
Accounts payable (50,074) (385,999) 203,823 (199,430)
Accrued liabilities 65,095 94,120 381,567 (32,684)
Customer deposits (166,270) (433,559) (257,703) (162,760)
Deferred revenue 1,938,868 531,558 4,257,267 3,736,151
Accreditation fees payable (14,391) (36,080) 21,792 28,317
Net cash provided by operating activities 824,718 1,173,491 1,587,214 2,552,057
Financing activities:        
Proceeds received on exercise of stock options 0 10,308 3,460 14,809
Repurchase of common stock 0 (1,702,520) 0 (6,914,792)
Repayment of loan payable (478,560) (478,560) (957,121) (957,121)
Net cash used in financing activities (478,560) (2,170,772) (953,661) (7,857,104)
Investing activities:        
Additions to property and equipment (162,068) (116,947) (491,026) (259,679)
Net cash used in investing activities (162,068) (116,947) (491,026) (259,679)
Increase (decrease) in cash and cash equivalents 184,090 (1,114,228) 142,527 (5,564,726)
Cash and cash equivalents, beginning of period 4,164,166 5,181,896 4,205,729 9,632,394
Cash and cash equivalents, end of period 4,348,256 4,067,668 4,348,256 4,067,668
Supplemental cash flow information:        
Interest paid 8,718 33,521 20,307 72,797
Supplementary disclosure of non-cash investing activity:        
Property and equipment acquired during the period not yet paid for $ 67,068 $ 6,687 $ 67,068 $ 6,687