| Balance Sheet Information |
Note 2: Balance Sheet Information
Balance
sheet information is as follows:
| |
|
June 30,
|
|
|
September 30,
|
|
|
|
|
2011
|
|
|
2010
|
|
| |
|
(unaudited)
|
|
|
|
|
|
Receivables,
current, net:
|
|
|
|
|
|
|
|
Accounts
receivable, current
|
|
$ |
2,449,294 |
|
|
$ |
2,750,393 |
|
|
Less:
Allowance for doubtful accounts
|
|
|
(1,530,931 |
) |
|
|
(1,801,954 |
) |
|
|
|
$ |
918,363 |
|
|
$ |
948,439 |
|
|
Receivables,
long term, net:
|
|
|
|
|
|
|
|
|
|
Accounts
receivable, long term
|
|
$ |
506,986 |
|
|
$ |
680,108 |
|
|
Less:
Allowance for doubtful accounts
|
|
|
(269,620 |
) |
|
|
(349,874 |
) |
|
|
|
$ |
237,366 |
|
|
$ |
330,234 |
|
|
Total
receivables, net:
|
|
|
|
|
|
|
|
|
|
Gross
receivables
|
|
$ |
2,956,280 |
|
|
$ |
3,430,501 |
|
|
Less:
Allowance for doubtful accounts
|
|
|
(1,800,551 |
) |
|
|
(2,151,828 |
) |
|
|
|
$ |
1,155,729 |
|
|
$ |
1,278,673 |
|
Components
of allowance for doubtful accounts are as follows:
| |
|
June 30,
|
|
|
September 30,
|
|
| |
|
2011
|
|
|
2010
|
|
|
Allowance
for dilution and fees on amounts due from billing
aggregators
|
|
$ |
1,662,409 |
|
|
$ |
2,104,826 |
|
|
Allowance
for customer refunds
|
|
|
138,142 |
|
|
|
47,002 |
|
| |
|
$ |
1,800,551 |
|
|
$ |
2,151,828 |
|
Our
accounts receivable consist primarily of amounts due from customers
of our directory services business.
| |
|
June 30,
|
|
|
September 30,
|
|
|
|
|
2011
|
|
|
2010
|
|
| |
|
(unaudited)
|
|
|
|
|
|
Property
and equipment, net:
|
|
|
|
|
|
|
|
Leasehold
improvements
|
|
$ |
201,476 |
|
|
$ |
239,271 |
|
|
Furnishings
and fixtures
|
|
|
233,577 |
|
|
|
319,004 |
|
|
Office,
computer equipment and other
|
|
|
441,130 |
|
|
|
704,388 |
|
| |
|
|
876,183 |
|
|
|
1,262,663 |
|
|
Less:
Accumulated depreciation
|
|
|
(663,749 |
) |
|
|
(865,281 |
) |
|
|
|
$ |
212,434 |
|
|
$ |
397,382 |
|
The
Company discovered in the second fiscal quarter of 2011, during a
review of the property and equipment, that assets with a net book
value of $25,350 were no longer in service and thus were written
off. During the third fiscal quarter of 2011, the
Company incurred a loss of $13,784 in the sale of fixed assets that
were no longer used in the business.
| |
|
June 30,
|
|
|
September 30,
|
|
|
|
|
2011
|
|
|
2010
|
|
| |
|
(unaudited)
|
|
|
|
|
|
Intangible
assets, net:
|
|
|
|
|
|
|
|
Domain
name and marketing related intangibles
|
|
$ |
1,509,600 |
|
|
$ |
1,509,600 |
|
|
Website
and technology related intangibles
|
|
|
363,367 |
|
|
|
1,914,991 |
|
| |
|
|
1,872,967 |
|
|
|
3,424,591 |
|
|
Less: Accumulated
amortization
|
|
|
(626,867 |
) |
|
|
(1,485,639 |
) |
|
|
|
$ |
1,246,100 |
|
|
$ |
1,938,952 |
|
The
decrease in net intangible assets reflects continuing amortization
and the write-off of $367,588 of net intangible assets during the
second fiscal quarter associated with our discontinued
operations. See Note 5.
| |
|
June 30,
|
|
|
September 30,
|
|
|
|
|
2011
|
|
|
2010
|
|
| |
|
(unaudited)
|
|
|
|
|
|
Accrued
liabilities:
|
|
|
|
|
|
|
|
Deferred
revenue
|
|
$ |
26,120 |
|
|
$ |
87,574 |
|
|
Accrued
payroll and bonuses
|
|
|
62,820 |
|
|
|
124,544 |
|
|
Accruals
under revenue sharing agreements
|
|
|
149,392 |
|
|
|
133,119 |
|
|
Accrued
expenses - other
|
|
|
396,950 |
|
|
|
534,951 |
|
|
|
|
$ |
635,282 |
|
|
$ |
880,188 |
|