Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF CASH FLOWS

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CONDENSED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities:    
Net (loss) income $ (481,816) $ 706,081
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization expense 55,424 20,711
Deferred tax expense 195,737   
Change in fair value of warrant liability (110,808)   
Realized loss on sale of investments, net    588
Gain on sale of property and equipment (4,734)   
Interest added to notes payable 16,881 27,837
Accretion of interest on notes payable 138,256 17,200
Changes in operating assets and liabilities:    
Accounts receivable 1,209,402 158,986
Accounts payable (4,258) 311,805
Accrued expenses 39,937 (82,825)
Prepaid expenses (152,981)   
Deferred income    (75,000)
Net cash provided by operating activities 901,040 1,085,382
Cash flows from investing activities:    
Costs incurred to develop technology (92,466) (19,089)
Sale of property and equipment 6,203   
Purchases of property and equipment (24,639)   
Net cash used in investing activities (110,902) (19,089)
Cash flows from financing activities:    
Distributions to members (200,000) (893,333)
Proceeds from IPO, net of offering costs 19,474,565   
Repayments of notes payable    (48,000)
Deferred IPO costs (419,937) (267,773)
Net cash provided by (used in) financing activities 18,854,628 (1,209,106)
Net increase (decrease) in cash and cash equivalents 19,644,766 (142,813)
Cash and cash equivalents, beginning of year 868,294 2,254,431
Cash and cash equivalents, end of period 20,513,060 2,111,618
Supplemental disclosures of other cash flow information:    
Cash paid for income taxes      
Cash paid for interest      
Non-cash disclosures:    
IPO costs in accounts payable 40,819   
Deferred revenue in accounts receivable 52,586   
Conversion of notes payable to equity 1,643,037   
Reduction of additional paid-in capital for deferred initial public offering costs 1,292,996   
Fair value of warrant liabilities $ 415,368