Quarterly report pursuant to sections 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

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Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Statement of Cash Flows [Abstract]    
Net loss $ (5,413) $ (7,962)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Change in fair value of contingent consideration 121 (6,202)
Adjustment to deferred rent (372) (313)
Amortization of intangible assets 5,865 5,849
Loss on extinguishment of debt 3,754 0
Amortization of debt discount 898 998
Amortization of debt issue cost 233 239
Amortization of retention loans 3,649 3,583
Depreciation and amortization 1,912 2,284
Deferred income taxes 458 372
Benefit attributable to reduction of goodwill 38 33
Non-cash interest expense on forgivable loans 460 645
Non-cash compensation expense 2,792 2,591
Disposal of fixed assets 176 2
(Increase) decrease in operating assets:    
Securities owned at fair value (4,842) 678
Receivables from clearing broker (14,469) (2,676)
Receivables from other broker-dealers (2,447) (1,304)
Other receivables, net 1,392 (732)
Notes receivable from financial advisors, net 1,267 (2,024)
Cash surrender value of life insurance 203 1,384
Other assets (176) 187
Increase (decrease) in operating liabilities:    
Securities sold, but not yet purchased, at fair value 4,327 (14)
Accrued compensation 2,079 1,780
Accrued interest (3,856) 1,665
Commissions and fees payable (196) 2,165
Deferred compensation liability (291) (1,355)
Accounts payable and accrued liabilities 3,182 (837)
Net cash provided by operating activities 744 1,036
Cash flows from investing activities:    
Purchases of fixed assets (3,037) (2,795)
Net cash used in investing activities activities (3,037) (2,795)
Cash flows from financing activities:    
Issuance of common stock 368 661
Repurchases of common stock 745 950
Principal borrowings under revolving credit facility, net (90,466) 1,000
Principal payments on other notes payable (25,500) (109)
Third party investment in minority interest 60 0
Net cash provided by financing activities (10,759) (602)
Net increase in cash and cash equivalents 8,466 (1,157)
Cash and cash equivalents, beginning of period 35,434 31,597
Cash and cash equivalents, end of period 43,900 30,440
Supplemental cash flow information    
Interest paid 14,508 8,700
Taxes paid $ 290 $ 201