| Balance Sheet Information |
Note 2: Balance Sheet Information
Balance
sheet information is as follows:
| |
|
March 31, |
|
|
September 30, |
|
| |
|
2012 |
|
|
2011 |
|
| |
|
(unaudited) |
|
|
|
|
| |
|
|
|
|
|
|
| Receivables, current, net: |
|
|
|
|
|
|
|
|
|
Accounts receivable, current |
|
$ |
2,030,132 |
|
|
$ |
2,080,747 |
|
| Less:
Allowance for doubtful accounts |
|
|
(1,517,831 |
) |
|
|
(1,425,891 |
) |
| |
|
$ |
512,301 |
|
|
$ |
654,856 |
|
| Receivables, long term, net: |
|
|
|
|
|
|
|
|
| Accounts
receivable, long term |
|
$ |
498,832 |
|
|
$ |
569,178 |
|
| Less:
Allowance for doubtful accounts |
|
|
(134,741 |
) |
|
|
(197,740 |
) |
| |
|
$ |
364,091 |
|
|
$ |
371,438 |
|
| Total receivables, net: |
|
|
|
|
|
|
|
|
| Gross
receivables |
|
$ |
2,528,964 |
|
|
$ |
2,649,925 |
|
| Less:
Allowance for doubtful accounts |
|
|
(1,652,572 |
) |
|
|
(1,623,631 |
) |
| |
|
$ |
876,392 |
|
|
$ |
1,026,294 |
|
Our accounts receivable consist primarily of amounts due from
customers of our directory services business.
During the quarter ended March 31, 2012, the Company discovered it
was incorrectly netting certain allowance accounts against gross
receivables. From this review and for the quarter ended March 31,
2012, the Company concluded that it should gross up its receivables
by approximately $350,000 with an equal offset and increase to its
allowance for doubtful accounts from the methodology formerly used
by the Company. The net accounts receivable balances were not
impacted for this period or any prior period.
Components of allowance for doubtful accounts are as follows:
| |
|
March 31, |
|
|
September 30, |
|
| |
|
2012 |
|
|
2011 |
|
| |
|
(unaudited) |
|
|
|
|
| |
|
|
|
|
|
|
|
Allowance for dilution and fees on amounts due from billing
aggregators |
|
$ |
1,638,870 |
|
|
$ |
1,477,769 |
|
| Allowance for
customer refunds |
|
|
13,702 |
|
|
|
145,862 |
|
| |
|
$ |
1,652,572 |
|
|
$ |
1,623,631 |
|
| |
|
March 31, |
|
|
September 30, |
|
| |
|
2012 |
|
|
2011 |
|
| |
|
(unaudited) |
|
|
|
|
| Property and equipment, net: |
|
|
|
|
|
|
|
|
|
Leasehold improvements |
|
$ |
201,476 |
|
|
$ |
201,476 |
|
| Furnishings and
fixtures |
|
|
233,577 |
|
|
|
233,577 |
|
| Office,
computer equipment and other |
|
|
426,931 |
|
|
|
426,931 |
|
| |
|
|
861,984 |
|
|
|
861,984 |
|
| Less:
Accumulated depreciation |
|
|
(770,381 |
) |
|
|
(690,783 |
) |
| |
|
$ |
91,603 |
|
|
$ |
171,201 |
|
| |
|
March 31, |
|
|
September 30, |
|
| |
|
2012 |
|
|
2011 |
|
| |
|
(unaudited) |
|
|
|
|
| Intangible assets, net: |
|
|
|
|
|
|
|
|
| Domain
name and marketing related intangibles |
|
$ |
1,517,769 |
|
|
$ |
1,509,600 |
|
| Website
and technology related intangibles |
|
|
351,941 |
|
|
|
351,941 |
|
| |
|
|
1,869,710 |
|
|
|
1,861,541 |
|
| Less:
Accumulated amortization |
|
|
(696,279 |
) |
|
|
(639,207 |
) |
| |
|
$ |
1,173,431 |
|
|
$ |
1,222,334 |
|
| |
|
March 31, |
|
|
September 30, |
|
| |
|
2012 |
|
|
2011 |
|
| |
|
(unaudited) |
|
|
|
|
| |
|
|
|
|
|
|
| Accrued liabilities: |
|
|
|
|
|
|
|
|
|
Deferred revenue |
|
$ |
3,016 |
|
|
$ |
14,553 |
|
| Accrued payroll and
bonuses |
|
|
39,421 |
|
|
|
63,043 |
|
| Accruals under
revenue sharing agreements |
|
|
77,756 |
|
|
|
86,550 |
|
| Accrued
expenses - other |
|
|
215,824 |
|
|
|
260,449 |
|
| |
|
$ |
336,017 |
|
|
$ |
424,595 |
|
|