Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.4.1.9
Consolidated Statements of Cash Flows (Unaudited) (USD $)
 3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 6,738,000us-gaap_NetIncomeLoss $ 3,071,000us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 41,000us-gaap_Depreciation 21,000us-gaap_Depreciation
Stock-based compensation 15,000us-gaap_ShareBasedCompensation 25,000us-gaap_ShareBasedCompensation
Changes in assets and liabilities:    
Accounts receivable (69,000)us-gaap_IncreaseDecreaseInAccountsReceivable (39,000)us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories, net (1,101,000)us-gaap_IncreaseDecreaseInInventories (1,527,000)us-gaap_IncreaseDecreaseInInventories
Other current assets (259,000)us-gaap_IncreaseDecreaseInOtherCurrentAssets (1,105,000)us-gaap_IncreaseDecreaseInOtherCurrentAssets
Other assets (221,000)us-gaap_IncreaseDecreaseInOtherNoncurrentAssets  
Accounts payable 352,000us-gaap_IncreaseDecreaseInAccountsPayable 1,381,000us-gaap_IncreaseDecreaseInAccountsPayable
Income taxes payable (59,000)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 28,000us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Accrued distributor commissions (1,419,000)us-gaap_IncreaseDecreaseInAccruedLiabilities 21,000us-gaap_IncreaseDecreaseInAccruedLiabilities
Other accrued expenses 1,808,000us-gaap_IncreaseDecreaseInOtherAccruedLiabilities 1,040,000us-gaap_IncreaseDecreaseInOtherAccruedLiabilities
Deferred revenue 7,683,000us-gaap_IncreaseDecreaseInDeferredRevenue 5,320,000us-gaap_IncreaseDecreaseInDeferredRevenue
Amounts held in distributor eWallets 2,897,000us-gaap_IncreaseDecreaseInCustomerAdvancesAndDeposits  
Other current liabilities 212,000us-gaap_IncreaseDecreaseInOtherCurrentLiabilities 47,000us-gaap_IncreaseDecreaseInOtherCurrentLiabilities
Long-term incentive (62,000)us-gaap_IncreaseDecreaseInDeferredCompensation  
Net cash provided by operating activities 16,556,000us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 8,283,000us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment, net (266,000)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (63,000)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net cash used in investing activities (266,000)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (63,000)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of warrants   598,000us-gaap_ProceedsFromWarrantExercises
Repurchase of common stock (1,082,000)us-gaap_PaymentsForRepurchaseOfCommonStock (24,000)us-gaap_PaymentsForRepurchaseOfCommonStock
Dividends paid (250,000)us-gaap_PaymentsOfDividends  
Net cash provided by (used in) financing activities (1,332,000)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 574,000us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rates on cash and cash equivalents 92,000us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (10,000)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase in cash and cash equivalents 15,050,000us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 8,784,000us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
CASH AND CASH EQUIVALENTS, beginning of period 44,816,000us-gaap_CashAndCashEquivalentsAtCarryingValue 14,550,000us-gaap_CashAndCashEquivalentsAtCarryingValue
CASH AND CASH EQUIVALENTS, end of period 59,866,000us-gaap_CashAndCashEquivalentsAtCarryingValue 23,334,000us-gaap_CashAndCashEquivalentsAtCarryingValue
NON-CASH FINANCING ACTIVITY:    
Conversion of preferred stock   18,000us-gaap_ConversionOfStockAmountConverted1
Cash dividends declared, but not yet paid   158,000us-gaap_DividendsCash
Issuance of treasury stock $ 666,000us-gaap_StockIssued1