| Schedule of components of income tax expense (benefit) |
At December 31, 2013 and 2012, the Company's provision (benefit) for income taxes is comprised of the following: | | | | | | | | | | | | | | 2013 | | 2012 | | 2011 | Current: | | | | | | Federal | $ | 1,608,033 |
| | $ | — |
| | $ | — |
| State and local | 373,455 |
| | 3,649 |
| | 20,332 |
| Total current provision (benefit) | 1,981,488 |
| | 3,649 |
| | 20,332 |
| Deferred: | | | | | | Federal | (10,072,499 | ) | | (7,557,163 | ) | | (35,493,317 | ) | State and local | 472,572 |
| | (290,639 | ) | | (558,661 | ) | Total deferred provision (benefit) | (9,599,927 | ) | | (7,847,802 | ) | | (36,051,978 | ) | Total provision (benefit) | $ | (7,618,439 | ) | | $ | (7,844,153 | ) | | $ | (36,031,646 | ) |
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| Schedule of deferred tax assets and liabilities |
At December 31, 2013 and 2012, the Company’s deferred tax assets and liabilities are comprised of the following: | | | | | | | | | | 2013 | | 2012 | Deferred income tax assets: | | | | Net operating losses | $ | 7,750,690 |
| | $ | 36,764,901 |
| Deferred research and development costs | 2,278,397 |
| | 2,950,555 |
| Amortization of intangible assets | 1,342,555 |
| | 1,572,281 |
| Share-based compensation | 2,166,125 |
| | 1,768,990 |
| Depreciation | 604,973 |
| | 709,184 |
| Deferred revenue | 48,685,086 |
| | 4,403,266 |
| Alternative minimum tax credits | 1,608,033 |
| | — |
| Loss contingency | 942,529 |
| | 892,129 |
| Other | 554,777 |
| | 212,483 |
| Deferred income tax assets | 65,933,165 |
| | 49,273,789 |
| Less: valuation allowance | (4,442,929 | ) | | (4,328,233 | ) | Deferred income tax assets, net of valuation allowance | $ | 61,490,236 |
| | $ | 44,945,556 |
| Deferred income tax liabilities: | |
| | |
| Amortization of goodwill | (224,908 | ) | | (203,682 | ) | Capitalized contract costs | (7,940,796 | ) | | (1,017,269 | ) | Deferred income tax assets, net | $ | 53,324,532 |
| | $ | 43,724,605 |
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