Common stock

Additional

paid in

Accumulated

Other

Comprehensive

Total

stockholders'

Number

Amount

capital

Deficit

Income

equity

Balances, December 31, 2013

10,907,063

$

11,859,267

$

28,632,311

$

(13,329,379

)

$

(244,981

)

$

26,917,218

Exercise of stock options

291,913

1,446,903

(535,822

)

—

911,081

Repurchase and retirement of shares

(6,092

)

(4,874

)

(77,412

)

—

(82,286

)

Stock-based compensation

—

100,977

—

100,977

Income tax effect related to stock options exercised

—

1,013,800

—

1,013,800

Net income for the period

—

476,839

—

476,839

Unrealized loss on foreign currency forward contracts treated as hedges

—

(363,181

)

(363,181

)

Reclassification to net income due to settlement of foreign currency forward contracts treated as hedges

—

147,714

Balances, March 31, 2014

11,192,884

$

13,301,296

$

29,133,854

$

(12,852,540

)

$

(460,448

)

$

29,122,162