Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

Acquisitions (Tables)

9 Months Ended

Sep. 30, 2014

The following table summarizes the estimated fair values of assets acquired and liabilities assumed at the date of acquisition:



Cash	$	260
Receivables...............................................................................	6,070
Identifiable intangible assets...................................................	38,045
Goodwill...................................................................................	16,483
Other assets..............................................................................	2,450
Total assets acquired................................................................	$	63,308
Commissions and fees payable................................................	(1,450		)
Notes payable-current..............................................................	(21,834		)
Notes payable-long term..........................................................	(7,000		)
Accounts payable and accrued liabilities.................................	(6,536		)
Deferred taxes payable, net.....................................................	(14,922		)
Total liabilities assumed..........................................................	$	(51,742	)
Total purchase price.................................................................	$	11,566

Schedule of Indefinite-lived Intangible Assets Acquired

Identifiable intangible assets as of the acquisition date consist of:



			Useful Life
			(years)
Technology	$	972		4
Relationships with customers		1,914		25 & 11
Renewals revenue		30,337		8
Trade names		1,711		9
Non-solicitation agreement		3,111		3
Total identifiable intangible assets	$	38,045

Schedule of Pro Forma Information

The pro forma net loss reflects amortization of the amounts ascribed to identifiable intangible assets acquired in the acquisition and elimination of Highland's interest expense related to notes repaid at the date of acquisition. In addition, the $14,125 non-recurring income tax benefit resulting from the acquisition has been eliminated from the pro forma results (see Note 5).



	Three Months Ended September 30, 2014			Nine Months Ended September 30, 2014			Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013
Revenue	$	227,641		$	686,110		$	217,980		$	631,004
Net income (loss)	$	11,008		$	16,501		$	1,637		$	(1,858	)
Net loss available to common shareholders	$	(7,610	)	$	(9,436	)	$	(2,428	)	$	(9,775	)
Basic and diluted loss per share available to common shareholders	$	(0.04	)	$	(0.05	)	$	(0.01	)	$	(0.05	)
Weighted average common shares outstanding:
Basic and diluted	183,816,643			184,045,751			184,300,067			185,436,714