Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 83,298 $ 100,952
Commissions receivable, net of allowance for doubtful accounts of $81 and $99 at March 31, 2014 and December 31, 2013, respectively 3,309 4,115
Employee notes receivable 221 229
Prepaid expenses and other current assets 4,499 5,204
Deferred tax assets, net 7,494 8,663
Total current assets 98,821 119,163
Prepaid rent 4,401 4,999
Investments held in rabbi trust account 4,134 4,067
Property and equipment, net of accumulated depreciation of $19,714 and $19,412 at March 31, 2014 and December 31, 2013, respectively 8,537 8,560
Employee notes receivable 189 189
Deferred tax assets, net 27,040 27,185
Other assets 3,040 3,146
Total assets 146,162 167,309
Current liabilities:    
Accounts payable and accrued expenses 8,180 6,911
Accounts payable and accrued expenses - related party 433 506
Income tax payable 3,296 6,459
Notes payable to former stockholders 891 851
Commissions payable 11,358 25,086
Accrued employee expenses 7,460 16,947
Total current liabilities 31,618 56,760
Deferred compensation and commissions 29,010 32,177
Notes payable to former stockholders 11,464 11,504
Other liabilities 4,032 4,371
Total liabilities 76,124 104,812
Stockholders' equity:    
Preferred stock, $0.0001 par value: Authorized shares - 25,000,000; issued and outstanding shares - none at March 31, 2014 and December 31, 2013, respectively      
Common Stock $0.0001 par value: Authorized shares - 150,000,000; issued and outstanding shares - 36,600,897 at March 31, 2014 and December 31, 2013, respectively 4 4
Additional paid-in capital 71,162 70,445
Stock notes receivable from employees (13) (13)
Accumulated deficit (1,157) (7,939)
Accumulated other comprehensive income 42  
Total stockholders' equity 70,038 62,497
Total liabilities and stockholders' equity $ 146,162 $ 167,309