Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues $ 26,212,048 $ 16,358,002 $ 53,810,515 $ 56,412,256
Cost of revenues, exclusive of amortization of intangibles 21,135,336 12,257,143 42,407,872 40,867,601
Research and development expenses 722,934 671,910 1,735,787 2,250,407
Selling and marketing expenses 1,436,893 1,524,955 4,269,160 4,122,249
General and administrative expenses 3,567,046 2,525,448 9,516,668 8,397,367
Amortization of intangible assets and capitalized software 481,220 442,327 1,442,519 1,281,233
Total operating costs and expenses 27,343,429 17,421,783 59,372,006 56,918,857
Operating loss (1,131,381) (1,063,781) (5,561,491) (506,601)
Other income 13,645 43,668 12,104 104,886
Allowance for settlements, net       500,000
Financial income (expense), net (408,017) 102,747 (409,704) (104,963)
Total other income (expense) (394,372) 146,415 (397,600) 499,923
Loss before income tax expense (1,525,753) (917,366) (5,959,091) (6,678)
Income tax expense 89 189,998 281,335 649,138
Net loss $ (1,525,842) $ (1,107,364) $ (6,240,426) $ (655,816)
Basic and diluted net loss per share (in Dollars per share) $ (0.11) $ (0.08) $ (0.45) $ (0.05)
Weighted average number of shares used in computing basic and diluted net loss per share (in Shares) 14,216,701 13,336,353 13,922,270 13,216,861