trading partner analytics . our trading partner analytics solution consists of data analytics applications which allow our customers to improve their visibility across , and analysis of , their supply chains . through interactive data analysis , our retailer customers improve their visibility into supplier performance and their understanding of product sell-through . our revenues for this solution primarily consist of a monthly subscription fee . other trading partner solutions . the remainder of our revenues are derived from solutions that allow our customers to perform tasks such as barcode labeling or picking-and-packaging information tracking as well as purchases of miscellaneous supplies . these revenues are primarily transaction-based . 32 cost of revenues and operating expenses overhead allocation . we allocate overhead expenses such as rent , certain employee benefit costs , office supplies and depreciation of general office assets to cost of revenues and operating expenses categories based on headcount . cost of revenues . cost of revenues consist primarily of personnel costs for our implementation teams , customer support personnel and application support personnel . cost of revenues also includes our cost of network services , which is primarily data center costs for the locations where we keep the equipment that serves our customers , and connectivity costs that facilitate electronic data transmission between our customers and their trading partners . sales and marketing expenses . sales and marketing expenses consist primarily of personnel costs for our sales , marketing and product management teams , commissions earned by our sales personnel and marketing costs . in order to expand our business , we will continue to add resources to our sales and marketing efforts over time . research and development expenses . research and development expenses consist primarily of personnel costs for development and maintenance of existing solutions . our research and development group is also responsible for enhancing existing solutions and applications as well as internal tools and developing new information maps that integrate our customers to their trading partners in compliance with those trading partners ' requirements . general and administrative expenses . general and administrative expenses consist primarily of personnel costs for finance , human resources and internal information technology support , as well as legal , accounting and other fees , such as credit card processing fees . other metrics recurring revenue customers . as of december 31 , 2014 , we had approximately 22,000 customers with contracts to pay us monthly fees , which we refer to as recurring revenue customers . we report recurring revenue customers at the end of a period . a small portion of our recurring revenue customers consist of separate units within a larger organization . we treat each of these units , which may include divisions , departments , affiliates and franchises , as distinct customers . average recurring revenues per recurring revenue customer . we calculate average recurring revenues per recurring revenue customer , which we also refer to as wallet share , by dividing the recurring revenues from recurring revenue customers for the period by the average of the beginning and ending number of recurring revenue customers for the period . for interim periods , we annualize this number by multiplying the quotient calculated above by the quotient of 12 divided by the number of months in the period . we anticipate that average recurring revenues per recurring revenue customer will continue to increase as we increase the number of solutions we offer and increase the penetration of those solutions across our customer base . non-gaap financial measures . to supplement our financial statements , we also provide investors with adjusted ebitda and non-gaap income per share , both of which are non-gaap financial measures . we believe that these non-gaap measures provide useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations . our management uses these non-gaap measures to compare the company 's performance to that of prior periods for trend analyses and planning purposes . adjusted ebitda is also used for purposes of determining executive and senior management incentive compensation . these measures are also presented to our board of directors . these non-gaap measures should not be considered a substitute for , or superior to , financial measures calculated in accordance with generally accepted accounting principles in the united states of america . these 33 non-gaap financial measures exclude significant expenses and income that are required by gaap to be recorded in the company 's financial statements and are subject to inherent limitations . investors should review the reconciliations of non-gaap financial measures to the comparable gaap financial measures that are included in this management 's discussion and analysis of financial condition and results of operations. critical accounting policies and estimates the discussion of our financial condition and results of operations is based upon our financial statements , which are prepared in accordance with accounting principles generally accepted in the united states of america , or gaap . the preparation of these financial statements requires us to make estimates , judgments and assumptions that affect the reported amounts of assets , liabilities , revenues , costs and expenses and related disclosures . on an ongoing basis , we evaluate our estimates and assumptions . we base our estimates of the carrying value of certain assets and liabilities on historical experience and on various other assumptions that we believe to be reasonable . our actual results may differ from these estimates under different assumptions or conditions . we believe that of our significant accounting policies , which are described in the notes to our financial statements , the following accounting policies involve a greater degree of judgment , complexity and effect on materiality . story_separator_special_tag also contributing to the increase were higher expenses for depreciation , software subscriptions , stock-based compensation and occupancy in 2013 as compared to 2012. as a percentage of revenues , research and development expenses were 10 % for 2013 and 11 % for 2012. general and administrative expenses . general and administrative expenses for 2013 increased $ 3.7 million , or 27 % , to $ 17.2 million from $ 13.5 million for 2012. this increase was due to increased headcount in 2013 , which resulted in higher personnel costs , as well as increased stock-based compensation , depreciation and software maintenance and subscription expenses compared to 2012. in addition , legal expenses in 2013 decreased slightly as compared to 2012. as a percentage of revenues , general and administrative expenses were 17 % for 2013 , compared to 18 % for 2012. amortization of intangible assets . amortization expense for the year ended december 31 , 2013 included $ 290,000 for the impairment of a certain non-competition agreement . income tax expense . our 2013 provision for income taxes was $ 686,000 and included current state and foreign income taxes as well as deferred federal and state income taxes . it also included a one-time tax benefit for the retroactive benefit of the 2012 federal r & d credit . the american taxpayer relief act of 2012 was enacted on january 2 , 2013 and extended the federal r & d credit from january 1 , 2012 through december 31 , 2013. if this one-time tax benefit were excluded , our 2013 provision for income taxes would have been $ 803,000. our 2012 provision for income taxes was $ 121,000 and included current state and foreign income taxes as well as deferred federal and state income taxes . it also included one-time tax benefits related to true-up adjustments for prior years and increased state effective tax rates . if these one-time benefits were excluded , our 2012 provision for income taxes would have been $ 418,000. see note k to our consolidated financial statements , included in this annual report on form 10-k , for additional information regarding our income taxes . adjusted ebitda . adjusted ebitda , which is a non-gaap measure of financial performance , consists of net income plus depreciation and amortization , interest expense , interest income , income tax expense , stock-based compensation expense and other adjustments as necessary for a fair presentation . in 2013 , other adjustments included the impact of a use tax refund related to items previously expensed . the following table provides a reconciliation of net income to adjusted ebitda ( in thousands ) : replace_table_token_13_th 40 non-gaap income per share . non-gaap income per share , which is also a non-gaap measure of financial performance , consists of net income plus stock-based compensation expense and amortization expense related to intangible assets divided by the weighted average number of shares of common stock outstanding during each period . the following table provides a reconciliation of net income to non-gaap income per share ( in thousands , except per share amounts ) : replace_table_token_14_th story_separator_special_tag stock purchase plan . net cash provided by financing activities was $ 52.7 million for 2013 , and primarily represented $ 47.6 million of net proceeds from our common stock offering in november 2013 and $ 5.1 million related to the exercise of stock options and proceeds from our employee stock purchase plan . net cash provided by financing activities was $ 59.5 million for 2012 , and primarily represented $ 57.8 million of net proceeds from our common stock offering in september 2012 and $ 2.0 million of cash received from the exercise of employee stock options and net proceeds from our employee stock purchase plan . credit facility we have a revolving credit agreement with jpmorgan chase bank , n.a . which provides for a $ 20 million revolving credit facility that we may draw upon from time to time , subject to certain terms and conditions , and will mature on september 30 , 2016. proceeds from the credit facility are anticipated to be used for acquisitions and our capital needs . interest on amounts borrowed under the credit facility is based on ( i ) an adjusted libo rate ( as defined in the revolving credit agreement ) plus an applicable margin of 175 to 225 basis points based on our net working capital , or ( ii ) jpmorgan 's prime rate ( provided it is not less than the adjusted one month libo rate ( as defined in the revolving credit agreement ) ) plus an applicable margin of -25 to 25 basis points based on our net working capital . interest is payable monthly in arrears . availability under the credit facility is subject to a borrowing base equal to the sum of 250 % of our eligible monthly recurring revenue ( as defined in the revolving credit agreement ) and all borrowings are due in full no later than the maturity date of the agreement . the revolving credit agreement contains customary representations , warranties , covenants and events of default , including , but not limited to financial covenants requiring us to maintain a fixed charge coverage ratio of 42 not less than 1.20 to 1.00 , cash and cash equivalents of not less than $ 10 million and a minimum number of recurring revenue customers . if an event of default occurs , among other things , the applicable interest rate is subject to an increase of 200 basis points and all outstanding obligations may become immediately due and payable . there were no borrowings under the revolving credit agreement in 2014 or 2013. in connection with the acquisition of edifice in 2012 , we borrowed $ 11.0 million under our line of credit to fund a portion of the cash paid for the acquisition . on september 11 , 2012 , this debt was

liquidity and capital resources at december 31 , 2014 , our principal sources of liquidity were cash and cash equivalents totaling $ 130.8 million and accounts receivable , net of allowance for doubtful accounts of $ 15.4 million compared to cash and cash equivalents of $ 131.3 million and accounts receivable , net of allowance for doubtful accounts of $ 11.6 million at december 31 , 2013. our working capital at december 31 , 2014 was $ 137.6 million compared to working capital of $ 137.2 million at december 31 , 2013. the slight increase in working capital from december 31 , 2013 to december 31 , 2014 resulted primarily from the following : $ 499,000 decrease in cash and cash equivalents , due primarily to the $ 16.8 million of cash provided by operations and $ 3.5 million of cash received from the exercise of stock options and net proceeds from our employee stock purchase plan , all reduced by the $ 12.6 million of cash used for the leadtec acquisition , the $ 7.6 million of cash used for capital expenditures and the impact of changes in foreign currency exchange rates ; $ 3.8 million increase in net accounts receivable , as new accounts exceeded collections of outstanding balances in 2014 due


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources at december 31 , 2014 , our principal sources of liquidity were cash and cash equivalents totaling $ 130.8 million and accounts receivable , net of allowance for doubtful accounts of $ 15.4 million compared to cash and cash equivalents of $ 131.3 million and accounts receivable , net of allowance for doubtful accounts of $ 11.6 million at december 31 , 2013. our working capital at december 31 , 2014 was $ 137.6 million compared to working capital of $ 137.2 million at december 31 , 2013. the slight increase in working capital from december 31 , 2013 to december 31 , 2014 resulted primarily from the following : $ 499,000 decrease in cash and cash equivalents , due primarily to the $ 16.8 million of cash provided by operations and $ 3.5 million of cash received from the exercise of stock options and net proceeds from our employee stock purchase plan , all reduced by the $ 12.6 million of cash used for the leadtec acquisition , the $ 7.6 million of cash used for capital expenditures and the impact of changes in foreign currency exchange rates ; $ 3.8 million increase in net accounts receivable , as new accounts exceeded collections of outstanding balances in 2014 due
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 Suspicious Activity Report : trading partner analytics . our trading partner analytics solution consists of data analytics applications which allow our customers to improve their visibility across , and analysis of , their supply chains . through interactive data analysis , our retailer customers improve their visibility into supplier performance and their understanding of product sell-through . our revenues for this solution primarily consist of a monthly subscription fee . other trading partner solutions . the remainder of our revenues are derived from solutions that allow our customers to perform tasks such as barcode labeling or picking-and-packaging information tracking as well as purchases of miscellaneous supplies . these revenues are primarily transaction-based . 32 cost of revenues and operating expenses overhead allocation . we allocate overhead expenses such as rent , certain employee benefit costs , office supplies and depreciation of general office assets to cost of revenues and operating expenses categories based on headcount . cost of revenues . cost of revenues consist primarily of personnel costs for our implementation teams , customer support personnel and application support personnel . cost of revenues also includes our cost of network services , which is primarily data center costs for the locations where we keep the equipment that serves our customers , and connectivity costs that facilitate electronic data transmission between our customers and their trading partners . sales and marketing expenses . sales and marketing expenses consist primarily of personnel costs for our sales , marketing and product management teams , commissions earned by our sales personnel and marketing costs . in order to expand our business , we will continue to add resources to our sales and marketing efforts over time . research and development expenses . research and development expenses consist primarily of personnel costs for development and maintenance of existing solutions . our research and development group is also responsible for enhancing existing solutions and applications as well as internal tools and developing new information maps that integrate our customers to their trading partners in compliance with those trading partners ' requirements . general and administrative expenses . general and administrative expenses consist primarily of personnel costs for finance , human resources and internal information technology support , as well as legal , accounting and other fees , such as credit card processing fees . other metrics recurring revenue customers . as of december 31 , 2014 , we had approximately 22,000 customers with contracts to pay us monthly fees , which we refer to as recurring revenue customers . we report recurring revenue customers at the end of a period . a small portion of our recurring revenue customers consist of separate units within a larger organization . we treat each of these units , which may include divisions , departments , affiliates and franchises , as distinct customers . average recurring revenues per recurring revenue customer . we calculate average recurring revenues per recurring revenue customer , which we also refer to as wallet share , by dividing the recurring revenues from recurring revenue customers for the period by the average of the beginning and ending number of recurring revenue customers for the period . for interim periods , we annualize this number by multiplying the quotient calculated above by the quotient of 12 divided by the number of months in the period . we anticipate that average recurring revenues per recurring revenue customer will continue to increase as we increase the number of solutions we offer and increase the penetration of those solutions across our customer base . non-gaap financial measures . to supplement our financial statements , we also provide investors with adjusted ebitda and non-gaap income per share , both of which are non-gaap financial measures . we believe that these non-gaap measures provide useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations . our management uses these non-gaap measures to compare the company 's performance to that of prior periods for trend analyses and planning purposes . adjusted ebitda is also used for purposes of determining executive and senior management incentive compensation . these measures are also presented to our board of directors . these non-gaap measures should not be considered a substitute for , or superior to , financial measures calculated in accordance with generally accepted accounting principles in the united states of america . these 33 non-gaap financial measures exclude significant expenses and income that are required by gaap to be recorded in the company 's financial statements and are subject to inherent limitations . investors should review the reconciliations of non-gaap financial measures to the comparable gaap financial measures that are included in this management 's discussion and analysis of financial condition and results of operations. critical accounting policies and estimates the discussion of our financial condition and results of operations is based upon our financial statements , which are prepared in accordance with accounting principles generally accepted in the united states of america , or gaap . the preparation of these financial statements requires us to make estimates , judgments and assumptions that affect the reported amounts of assets , liabilities , revenues , costs and expenses and related disclosures . on an ongoing basis , we evaluate our estimates and assumptions . we base our estimates of the carrying value of certain assets and liabilities on historical experience and on various other assumptions that we believe to be reasonable . our actual results may differ from these estimates under different assumptions or conditions . we believe that of our significant accounting policies , which are described in the notes to our financial statements , the following accounting policies involve a greater degree of judgment , complexity and effect on materiality . story_separator_special_tag also contributing to the increase were higher expenses for depreciation , software subscriptions , stock-based compensation and occupancy in 2013 as compared to 2012. as a percentage of revenues , research and development expenses were 10 % for 2013 and 11 % for 2012. general and administrative expenses . general and administrative expenses for 2013 increased $ 3.7 million , or 27 % , to $ 17.2 million from $ 13.5 million for 2012. this increase was due to increased headcount in 2013 , which resulted in higher personnel costs , as well as increased stock-based compensation , depreciation and software maintenance and subscription expenses compared to 2012. in addition , legal expenses in 2013 decreased slightly as compared to 2012. as a percentage of revenues , general and administrative expenses were 17 % for 2013 , compared to 18 % for 2012. amortization of intangible assets . amortization expense for the year ended december 31 , 2013 included $ 290,000 for the impairment of a certain non-competition agreement . income tax expense . our 2013 provision for income taxes was $ 686,000 and included current state and foreign income taxes as well as deferred federal and state income taxes . it also included a one-time tax benefit for the retroactive benefit of the 2012 federal r & d credit . the american taxpayer relief act of 2012 was enacted on january 2 , 2013 and extended the federal r & d credit from january 1 , 2012 through december 31 , 2013. if this one-time tax benefit were excluded , our 2013 provision for income taxes would have been $ 803,000. our 2012 provision for income taxes was $ 121,000 and included current state and foreign income taxes as well as deferred federal and state income taxes . it also included one-time tax benefits related to true-up adjustments for prior years and increased state effective tax rates . if these one-time benefits were excluded , our 2012 provision for income taxes would have been $ 418,000. see note k to our consolidated financial statements , included in this annual report on form 10-k , for additional information regarding our income taxes . adjusted ebitda . adjusted ebitda , which is a non-gaap measure of financial performance , consists of net income plus depreciation and amortization , interest expense , interest income , income tax expense , stock-based compensation expense and other adjustments as necessary for a fair presentation . in 2013 , other adjustments included the impact of a use tax refund related to items previously expensed . the following table provides a reconciliation of net income to adjusted ebitda ( in thousands ) : replace_table_token_13_th 40 non-gaap income per share . non-gaap income per share , which is also a non-gaap measure of financial performance , consists of net income plus stock-based compensation expense and amortization expense related to intangible assets divided by the weighted average number of shares of common stock outstanding during each period . the following table provides a reconciliation of net income to non-gaap income per share ( in thousands , except per share amounts ) : replace_table_token_14_th story_separator_special_tag stock purchase plan . net cash provided by financing activities was $ 52.7 million for 2013 , and primarily represented $ 47.6 million of net proceeds from our common stock offering in november 2013 and $ 5.1 million related to the exercise of stock options and proceeds from our employee stock purchase plan . net cash provided by financing activities was $ 59.5 million for 2012 , and primarily represented $ 57.8 million of net proceeds from our common stock offering in september 2012 and $ 2.0 million of cash received from the exercise of employee stock options and net proceeds from our employee stock purchase plan . credit facility we have a revolving credit agreement with jpmorgan chase bank , n.a . which provides for a $ 20 million revolving credit facility that we may draw upon from time to time , subject to certain terms and conditions , and will mature on september 30 , 2016. proceeds from the credit facility are anticipated to be used for acquisitions and our capital needs . interest on amounts borrowed under the credit facility is based on ( i ) an adjusted libo rate ( as defined in the revolving credit agreement ) plus an applicable margin of 175 to 225 basis points based on our net working capital , or ( ii ) jpmorgan 's prime rate ( provided it is not less than the adjusted one month libo rate ( as defined in the revolving credit agreement ) ) plus an applicable margin of -25 to 25 basis points based on our net working capital . interest is payable monthly in arrears . availability under the credit facility is subject to a borrowing base equal to the sum of 250 % of our eligible monthly recurring revenue ( as defined in the revolving credit agreement ) and all borrowings are due in full no later than the maturity date of the agreement . the revolving credit agreement contains customary representations , warranties , covenants and events of default , including , but not limited to financial covenants requiring us to maintain a fixed charge coverage ratio of 42 not less than 1.20 to 1.00 , cash and cash equivalents of not less than $ 10 million and a minimum number of recurring revenue customers . if an event of default occurs , among other things , the applicable interest rate is subject to an increase of 200 basis points and all outstanding obligations may become immediately due and payable . there were no borrowings under the revolving credit agreement in 2014 or 2013. in connection with the acquisition of edifice in 2012 , we borrowed $ 11.0 million under our line of credit to fund a portion of the cash paid for the acquisition . on september 11 , 2012 , this debt was

