|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
6 Months Ended |
|
Jan. 31, 2014
|
Jan. 31, 2013
|
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| Net income |
$ 339 |
$ 606 |
| Items to reconcile to net cash provided by operations: |
|
|
| Depreciation and amortization |
72 |
131 |
| Stock based compensation |
235 |
121 |
| Decrease in allowance for uncollectible receivables |
(20) |
(54) |
| Change in deferred income taxes |
176 |
309 |
| Gain on sale of assets |
0 |
(4) |
| Loss on disposal of equipment |
0 |
4 |
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(193) |
(242) |
| Prepaid expenses |
35 |
(23) |
| Loans and advances |
(15) |
(13) |
| Prepaid advertising credits |
0 |
3 |
| Other assets |
(27) |
(27) |
| Accounts payable |
(41) |
65 |
| Commissions payable to brokers |
(308) |
(654) |
| Accrued commissions to brokers |
348 |
464 |
| Accrued expenses |
18 |
(54) |
| Deferred revenue |
(5) |
(10) |
| Other long-term liabilities |
(6) |
(1) |
| Advance payments |
(37) |
(39) |
| Net cash provided by operating activities |
571 |
582 |
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
| Membership list purchase |
0 |
45 |
| Proceeds from notes payable |
0 |
15 |
| Payments on note payable |
(1) |
(2) |
| Purchase of property and equipment |
(2) |
(17) |
| Payments received from notes receivable |
267 |
181 |
| Advances on Loans |
(438) |
(76) |
| Net cash provided by (used in) investing activities |
(174) |
146 |
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Principal payments on Broker notes receivable |
31 |
52 |
| Repurchase of Common stock |
(96) |
(26) |
| Cash dividend paid to Common Shareholders |
(290) |
(235) |
| Net cash used in financing activities |
(355) |
(209) |
| Net increase in cash |
42 |
519 |
| Cash at beginning of period |
3,352 |
1,942 |
| Cash at end of period |
3,394 |
2,461 |
| Supplemental cash flow information: |
|
|
| Cash paid for taxes |
$ 35 |
$ 5 |