XML 36 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Balance Sheets (Unaudited) (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 13,589,246 $ 12,418,888
Accounts receivable, net of allowance for doubtful accounts of $127,330 as of September 30, 2014 and $91,226 as of December 31, 2013 6,914,690 5,305,403
Inventory 391,026 309,686
Prepaid expenses and deposits 4,322,231 4,309,039
Prepaid domain name registry and ancillary services fees, current portion 45,985,103 44,209,591
Deferred tax asset, current portion (note 7) 1,874,824 1,081,526
Income taxes recoverable 526,534 475,889
Total current assets 73,603,654 68,110,022
Prepaid domain name registry and ancillary services fees, long-term portion 11,911,238 11,838,579
Property and equipment 1,742,305 1,757,836
Deferred tax asset, long-term portion (note 7) 5,569,900 5,370,037
Intangible assets (note 5) 14,261,216 15,403,228
Goodwill 18,873,127 18,873,127
Total assets 125,961,440 121,352,829
Current liabilities:    
Accounts payable 3,574,165 2,361,481
Accrued liabilities 4,957,900 3,913,034
Customer deposits 4,069,332 4,500,946
Derivative instrument liability, (note 4) 762,053 491,098
Loan payable (note 6)   6,300,000
Deferred revenue, current portion 57,182,978 54,379,719
Accreditation fees payable, current portion 484,989 473,811
Income taxes payable (note 7) 179,007 1,024,004
Total current liabilities 71,210,424 73,444,093
Deferred revenue, long-term portion 15,795,206 15,638,517
Accreditation fees payable, long-term portion 130,166 135,522
Deferred rent, long-term portion 90,191 75,979
Deferred tax liability, long-term portion (note 7) 5,092,000 5,141,500
Stockholders' equity (note 11)    
Preferred stock - no par value, 1,250,000 shares authorized; none issued and outstanding 0 0
Common stock - no par value, 250,000,000 shares authorized;11,301,891 shares issued and outstanding as of September 30, 2014 and 10,907,063 shares issued and outstanding as of December 31, 2013 13,984,072 11,859,267
Additional paid-in capital 28,883,823 28,632,311
Deficit (8,814,453) (13,329,379)
Accumulated other comprehensive income (loss) (409,989) (244,981)
Total stockholders' equity 33,643,453 26,917,218
Total liabilities and stockholders' equity $ 125,961,440 $ 121,352,829