Annual report pursuant to section 13 and 15(d)

8. Restricted Cash

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8. Restricted Cash
12 Months Ended
Dec. 31, 2013
Notes to Financial Statements  
8. Restricted Cash

Restricted cash at December 31, 2013 and 2012 includes $1,000,000 of cash held in reserve as required by the terms of the Company’s senior lending agreement (see note 11). Restricted cash also includes certificates of deposit collateralizing letters of credit in the amounts of $163,872 and $26,326 at December 31, 2013 and 2012, respectively. These letters of credit are required as security for certain of the Company’s non-cancelable operating leases for office facilities.