for complete details about this waiver from the nol protective measures , please see our form 8-k filed on july 28 , 2010. as of february 28 , 2013 , we had 15,319,433 shares outstanding , and therefore ownership of approximately 766,000 shares or more would currently constitute a “ 5 % shareholder ” . we strongly urge that any stockholder contemplating becoming a 5 % or more shareholder contact us before doing so . pc postage business references when we refer to our “ pc postage ” business , we are referring to our pc postage service and integrations , mailing & shipping supplies store and branded insurance offering . we do not include our photostamps business when we refer to our pc postage business . when we refer to our `` core pc postage business `` , we are referring to the portion of our pc postage business targeting our small business , enterprise and high volume shipping customers . when we refer to our `` non-core pc postage business `` , we are referring to the portion of our pc postage business that targets a more consumer oriented customer through the `` enhanced promotion `` marketing channel . in the `` enhanced promotion `` channel , we work with various companies to advertise our service in a variety of sites on the internet . these companies typically offer an additional promotion ( beyond what we typically offer ) directly to the customer in order to get the customer to try our service and we find that this channel attracts more consumer oriented customers . 23 when we refer to our `` core pc postage revenue , `` we are referring to revenues from service , product and insurance generated by customers in our core pc postage business and when we refer to our `` non-core pc postage revenue , `` we are referring to revenues from service , product and insurance generated by customers in our non-core pc postage business . when we refer to our “ total pc postage revenue , ” we are referring to both core pc postage and non-core pc postage revenues generated from all service , product and insurance revenues . when we refer to our `` core pc postage marketing channels , `` we are referring to our marketing channels targeted at acquiring small business , enterprise and high volume shipping customers . these channels include partnerships , online advertising , affiliate channel , direct mail , traditional media advertising and others . when we refer to our `` non-core pc postage marketing channel , `` we are referring to the online enhanced promotion marketing channel . within our pc postage business , we believe it is useful to discuss core and non-core pc postage because they target different customer types and as a result may represent differing trends . for example , core pc postage generally targets businesses and non-core pc postage generally targets consumers . results of operations years ended december 31 , 2012 and 2011 total revenue increased 14 % to $ 115.7 million in 2012 from $ 101.6 million in 2011. pc postage revenue , including service revenue , product revenue and insurance revenue , in 2012 was $ 110.0 million , an increase of 18 % compared to $ 93.3 million in 2011. core pc postage revenue increased 19 % to $ 107.0 million in 2012 from $ 90.2 million in 2011. non-core pc postage revenue decreased 5 % to $ 3.0 million in 2012 from $ 3.2 million in 2011. photostamps revenue decreased 32 % to $ 5.7 million in 2012 from $ 8.3 million in 2011. other revenue increased 9 % to $ 7,000 in 2012 from $ 6,000 in 2011. the following table sets forth the breakdown of revenue for 2012 and 2011 and the resulting percent change ( revenue in $ 000s ) : replace_table_token_7_th the following table sets forth the breakdown of pc postage revenue , which includes core pc postage revenue and non-core pc postage revenue for 2012 and 2011 and the resulting percent change ( revenue in $ 000s ) : replace_table_token_8_th the increase in core pc postage revenue was driven by both an increase in average revenue per paid customer and an increase in paid customers . average revenue per paid customer increased 5 % to $ 21.18 in 2012 from $ 20.20 in 2011. annual average paid customers increased 13 % to 421,000 in 2012 from 372,000 in 2011 . 24 we define paid customers for the quarter as ones from whom we successfully collected service fees at least once during that quarter , and we define average paid customers for the year as the average of the paid customers for each of the four quarters during the year . the following table sets forth the number of paid customers ( 000s ) in the period for our core pc postage business : replace_table_token_9_th the following table sets forth the growth in paid customers and average annual revenue per paid customer for our core pc postage business : replace_table_token_10_th the increase in paid customers is primarily driven by an increased number of new customers acquired , which was driven by our increased spend in core pc postage marketing channels , while our lost customer churn rates remained at levels that were consistent with the prior year . for our core pc postage business , our average annual and monthly core pc postage revenue per paid customer in 2012 was $ 254 and $ 21.18 respectively , which increased by 5 % compared to $ 242 and $ 20.20 , respectively in 2011. the increase in average revenue per paid customer was primarily attributable to ( 1 ) higher service revenue from our high volume shipping and enterprise customer segments and ( 2 ) an increase in insurance revenue per paid customer driven by our focus on shipping and new insurance features . story_separator_special_tag average revenue per paid customer increased 10 % to $ 20.20 in 2011 from $ 18.25 in 2010. annual average paid customers increased 11 % to 372,000 in 2011 from 337,000 in 2010. we define paid customers for the quarter as ones from whom we successfully collected service fees at least once during that quarter , and we define average paid customers for the year as the average of the paid customers for each of the four quarters during the year . the following table sets forth the total number of paid customers in the period that were originally acquired through our core pc postage channels ( in thousands ) : replace_table_token_16_th the following table sets forth the growth in paid customers and average annual revenue per paid customer for customers originally acquired through our core pc postage channel : replace_table_token_17_th the increase in paid customers in 2011 was primarily attributable to ( 1 ) our increased customer acquisition spending in these channels leading to an increase in the number of customers acquired and ( 2 ) reductions in our paid customer churn rates . for our core pc postage business , our average annual and monthly core pc postage revenue per paid customer in 2011 was $ 242 and $ 20.20 respectively , which increased by 11 % compared to $ 219 and $ 18.25 , respectively in 2010. the increase in average revenue per paid customer was primarily attributable to ( 1 ) higher monthly fees from our high volume shipping and enterprise customer segments , ( 2 ) an increase in the average store revenue per paid customer driven by the increased usage of our service and ( 3 ) an increase in insurance purchases driven by our focus on shipping and new insurance features . 30 the following table sets forth our results of operations as a percentage of total revenue for the periods indicated : replace_table_token_18_th revenue our revenue is derived primarily from five sources : ( 1 ) service and transaction fees related to our pc postage service ; ( 2 ) product revenue from the direct sale of consumables and supplies through our supplies store ; ( 3 ) insurance revenue from our branded insurance offering ; ( 4 ) photostamps revenue from our photostamps business ; and ( 5 ) other revenue , consisting of advertising revenue derived from advertising programs with our existing customers . service revenue increased 17 % to $ 75.5 million in 2011 from $ 64.6 million in 2010. the increase in service revenue consisted of a 20 % increase in service revenue from customers acquired through our non-enhanced promotion channels , which more than offset the 31 % decrease in service revenue from customers acquired through our enhanced promotion channel . the 20 % increase in service revenue from customers acquired through the non-enhanced promotion channels consisted of 10 % increase in successfully billed customers and 9 % increase in average service revenue per customer . as a percentage of total revenue , service revenue decreased to 74 % in 2011 from 76 % in 2010 , primarily as a result of the increase in revenue from our insurance offering . product revenue increased 15 % to $ 13.5 million in 2011 from $ 11.7 million in 2010. the increase in product revenue was primarily attributable to the following : ( 1 ) growth in our paid customer base ; ( 2 ) marketing our supplies store to our existing customer base ; ( 3 ) additional skus we added to our supplies store ; and ( 4 ) growth in postage printed , which helps drive sales of consumable supplies such as labels . total postage printed by customers using our service during 2011 was $ 672 million , a 50 % increase from $ 447 million in 2010. store orders increased by 14 % in 2011 compared to 2010 , while the average revenue per store order increased by 1 % in 2011 compared to 2010. as a percentage of total revenue , product revenue decreased slightly to 13 % in 2011 from 14 % in 2010 , primarily as a result of the increase in revenue from our insurance offering . 31 insurance revenue increased 114 % to $ 4.3 million in 2011 from $ 2.0 million in 2010. this increase was primarily attributable to ( 1 ) the expansion of our existing package insurance offering to cover packages being shipped to international destinations , ( 2 ) insurance purchases resulting from our partnership with amazon.com and ( 3 ) increased insurance purchases by high volume shippers . total postage printed by our high volume shipping customers in 2011 increased by 96 % compared to 2010. as a percentage of total revenue , insurance revenue increased to 4 % in 2011 from 2 % in 2010. photostamps revenue increased 15 % to $ 8.3 million in 2011 from $ 7.2 million in 2010. the increase in photostamps revenue was due to the recognition of photostamps retail box breakage revenue . beginning in the second quarter of 2011 , we began recognizing breakage revenue related to our photostamps retail boxes . during the second quarter of 2011 , we recognized $ 2.2 million of retail box breakage revenue of which $ 2.1 million related to a cumulative catch-up for previously sold and unredeemed photostamps retail boxes originally recorded as deferred revenue . photostamps retail breakage was not material for the third and fourth quarters of 2011. please see note 2 “ summary of significant accounting policies—photostamps retail boxes ” in our notes to consolidated financial statements for further discussion . the increase in photostamps revenue from photostamps retail box breakage was partially offset by lower sales of photostamps through our website and other channels . excluding the photostamps retail box breakage revenue we recognized in the second quarter of 2011 , total photostamps revenue decreased 15 % to $ 6.1 million in 2011 from $

liquidity and capital resources as of december 31 , 2012 and 2011 , we had $ 47 million and $ 69 million in cash , restricted cash and short-term and long-term investments , respectively . we invest available funds in short-term and long-term money market funds , commercial paper , asset-backed securities , corporate notes and bonds and municipal securities and do not engage in hedging or speculative activities . on january 23 , 2012 , we completed the purchase of two adjacent buildings in el segundo , california that now serves as our corporate headquarters for an aggregate purchase price of $ 13.4 million . we substantially completed the renovation and construction project on the property in 2012. we moved into our new corporate headquarters during the third quarter of 2012. we occupy a portion of the 99,600 square foot space , with the remaining portion of the space continuing to be leased to the existing tenants . the purchase of the property and renovations were funded out of our cash flow from operations and existing cash and investments . during 2012 , we repurchased 1.5 million shares of our common stock for $ 31.8 million . during 2013 , subject to limitations that may be imposed by applicable securities laws and regulations and the rules of the nasdaq stock market , we may consider repurchasing stock by evaluating such factors as the price of the stock , the daily trading volume and the availability of large blocks of stock and anyadditional constraints related to material inside information we may possess .


 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 as of december 31 , 2012 and 2011 , we had $ 47 million and $ 69 million in cash , restricted cash and short-term and long-term investments , respectively . we invest available funds in short-term and long-term money market funds , commercial paper , asset-backed securities , corporate notes and bonds and municipal securities and do not engage in hedging or speculative activities . on january 23 , 2012 , we completed the purchase of two adjacent buildings in el segundo , california that now serves as our corporate headquarters for an aggregate purchase price of $ 13.4 million . we substantially completed the renovation and construction project on the property in 2012. we moved into our new corporate headquarters during the third quarter of 2012. we occupy a portion of the 99,600 square foot space , with the remaining portion of the space continuing to be leased to the existing tenants . the purchase of the property and renovations were funded out of our cash flow from operations and existing cash and investments . during 2012 , we repurchased 1.5 million shares of our common stock for $ 31.8 million . during 2013 , subject to limitations that may be imposed by applicable securities laws and regulations and the rules of the nasdaq stock market , we may consider repurchasing stock by evaluating such factors as the price of the stock , the daily trading volume and the availability of large blocks of stock and anyadditional constraints related to material inside information we may possess .
```    
 Suspicious Activity Report : for complete details about this waiver from the nol protective measures , please see our form 8-k filed on july 28 , 2010. as of february 28 , 2013 , we had 15,319,433 shares outstanding , and therefore ownership of approximately 766,000 shares or more would currently constitute a “ 5 % shareholder ” . we strongly urge that any stockholder contemplating becoming a 5 % or more shareholder contact us before doing so . pc postage business references when we refer to our “ pc postage ” business , we are referring to our pc postage service and integrations , mailing & shipping supplies store and branded insurance offering . we do not include our photostamps business when we refer to our pc postage business . when we refer to our `` core pc postage business `` , we are referring to the portion of our pc postage business targeting our small business , enterprise and high volume shipping customers . when we refer to our `` non-core pc postage business `` , we are referring to the portion of our pc postage business that targets a more consumer oriented customer through the `` enhanced promotion `` marketing channel . in the `` enhanced promotion `` channel , we work with various companies to advertise our service in a variety of sites on the internet . these companies typically offer an additional promotion ( beyond what we typically offer ) directly to the customer in order to get the customer to try our service and we find that this channel attracts more consumer oriented customers . 23 when we refer to our `` core pc postage revenue , `` we are referring to revenues from service , product and insurance generated by customers in our core pc postage business and when we refer to our `` non-core pc postage revenue , `` we are referring to revenues from service , product and insurance generated by customers in our non-core pc postage business . when we refer to our “ total pc postage revenue , ” we are referring to both core pc postage and non-core pc postage revenues generated from all service , product and insurance revenues . when we refer to our `` core pc postage marketing channels , `` we are referring to our marketing channels targeted at acquiring small business , enterprise and high volume shipping customers . these channels include partnerships , online advertising , affiliate channel , direct mail , traditional media advertising and others . when we refer to our `` non-core pc postage marketing channel , `` we are referring to the online enhanced promotion marketing channel . within our pc postage business , we believe it is useful to discuss core and non-core pc postage because they target different customer types and as a result may represent differing trends . for example , core pc postage generally targets businesses and non-core pc postage generally targets consumers . results of operations years ended december 31 , 2012 and 2011 total revenue increased 14 % to $ 115.7 million in 2012 from $ 101.6 million in 2011. pc postage revenue , including service revenue , product revenue and insurance revenue , in 2012 was $ 110.0 million , an increase of 18 % compared to $ 93.3 million in 2011. core pc postage revenue increased 19 % to $ 107.0 million in 2012 from $ 90.2 million in 2011. non-core pc postage revenue decreased 5 % to $ 3.0 million in 2012 from $ 3.2 million in 2011. photostamps revenue decreased 32 % to $ 5.7 million in 2012 from $ 8.3 million in 2011. other revenue increased 9 % to $ 7,000 in 2012 from $ 6,000 in 2011. the following table sets forth the breakdown of revenue for 2012 and 2011 and the resulting percent change ( revenue in $ 000s ) : replace_table_token_7_th the following table sets forth the breakdown of pc postage revenue , which includes core pc postage revenue and non-core pc postage revenue for 2012 and 2011 and the resulting percent change ( revenue in $ 000s ) : replace_table_token_8_th the increase in core pc postage revenue was driven by both an increase in average revenue per paid customer and an increase in paid customers . average revenue per paid customer increased 5 % to $ 21.18 in 2012 from $ 20.20 in 2011. annual average paid customers increased 13 % to 421,000 in 2012 from 372,000 in 2011 . 24 we define paid customers for the quarter as ones from whom we successfully collected service fees at least once during that quarter , and we define average paid customers for the year as the average of the paid customers for each of the four quarters during the year . the following table sets forth the number of paid customers ( 000s ) in the period for our core pc postage business : replace_table_token_9_th the following table sets forth the growth in paid customers and average annual revenue per paid customer for our core pc postage business : replace_table_token_10_th the increase in paid customers is primarily driven by an increased number of new customers acquired , which was driven by our increased spend in core pc postage marketing channels , while our lost customer churn rates remained at levels that were consistent with the prior year . for our core pc postage business , our average annual and monthly core pc postage revenue per paid customer in 2012 was $ 254 and $ 21.18 respectively , which increased by 5 % compared to $ 242 and $ 20.20 , respectively in 2011. the increase in average revenue per paid customer was primarily attributable to ( 1 ) higher service revenue from our high volume shipping and enterprise customer segments and ( 2 ) an increase in insurance revenue per paid customer driven by our focus on shipping and new insurance features . story_separator_special_tag average revenue per paid customer increased 10 % to $ 20.20 in 2011 from $ 18.25 in 2010. annual average paid customers increased 11 % to 372,000 in 2011 from 337,000 in 2010. we define paid customers for the quarter as ones from whom we successfully collected service fees at least once during that quarter , and we define average paid customers for the year as the average of the paid customers for each of the four quarters during the year . the following table sets forth the total number of paid customers in the period that were originally acquired through our core pc postage channels ( in thousands ) : replace_table_token_16_th the following table sets forth the growth in paid customers and average annual revenue per paid customer for customers originally acquired through our core pc postage channel : replace_table_token_17_th the increase in paid customers in 2011 was primarily attributable to ( 1 ) our increased customer acquisition spending in these channels leading to an increase in the number of customers acquired and ( 2 ) reductions in our paid customer churn rates . for our core pc postage business , our average annual and monthly core pc postage revenue per paid customer in 2011 was $ 242 and $ 20.20 respectively , which increased by 11 % compared to $ 219 and $ 18.25 , respectively in 2010. the increase in average revenue per paid customer was primarily attributable to ( 1 ) higher monthly fees from our high volume shipping and enterprise customer segments , ( 2 ) an increase in the average store revenue per paid customer driven by the increased usage of our service and ( 3 ) an increase in insurance purchases driven by our focus on shipping and new insurance features . 30 the following table sets forth our results of operations as a percentage of total revenue for the periods indicated : replace_table_token_18_th revenue our revenue is derived primarily from five sources : ( 1 ) service and transaction fees related to our pc postage service ; ( 2 ) product revenue from the direct sale of consumables and supplies through our supplies store ; ( 3 ) insurance revenue from our branded insurance offering ; ( 4 ) photostamps revenue from our photostamps business ; and ( 5 ) other revenue , consisting of advertising revenue derived from advertising programs with our existing customers . service revenue increased 17 % to $ 75.5 million in 2011 from $ 64.6 million in 2010. the increase in service revenue consisted of a 20 % increase in service revenue from customers acquired through our non-enhanced promotion channels , which more than offset the 31 % decrease in service revenue from customers acquired through our enhanced promotion channel . the 20 % increase in service revenue from customers acquired through the non-enhanced promotion channels consisted of 10 % increase in successfully billed customers and 9 % increase in average service revenue per customer . as a percentage of total revenue , service revenue decreased to 74 % in 2011 from 76 % in 2010 , primarily as a result of the increase in revenue from our insurance offering . product revenue increased 15 % to $ 13.5 million in 2011 from $ 11.7 million in 2010. the increase in product revenue was primarily attributable to the following : ( 1 ) growth in our paid customer base ; ( 2 ) marketing our supplies store to our existing customer base ; ( 3 ) additional skus we added to our supplies store ; and ( 4 ) growth in postage printed , which helps drive sales of consumable supplies such as labels . total postage printed by customers using our service during 2011 was $ 672 million , a 50 % increase from $ 447 million in 2010. store orders increased by 14 % in 2011 compared to 2010 , while the average revenue per store order increased by 1 % in 2011 compared to 2010. as a percentage of total revenue , product revenue decreased slightly to 13 % in 2011 from 14 % in 2010 , primarily as a result of the increase in revenue from our insurance offering . 31 insurance revenue increased 114 % to $ 4.3 million in 2011 from $ 2.0 million in 2010. this increase was primarily attributable to ( 1 ) the expansion of our existing package insurance offering to cover packages being shipped to international destinations , ( 2 ) insurance purchases resulting from our partnership with amazon.com and ( 3 ) increased insurance purchases by high volume shippers . total postage printed by our high volume shipping customers in 2011 increased by 96 % compared to 2010. as a percentage of total revenue , insurance revenue increased to 4 % in 2011 from 2 % in 2010. photostamps revenue increased 15 % to $ 8.3 million in 2011 from $ 7.2 million in 2010. the increase in photostamps revenue was due to the recognition of photostamps retail box breakage revenue . beginning in the second quarter of 2011 , we began recognizing breakage revenue related to our photostamps retail boxes . during the second quarter of 2011 , we recognized $ 2.2 million of retail box breakage revenue of which $ 2.1 million related to a cumulative catch-up for previously sold and unredeemed photostamps retail boxes originally recorded as deferred revenue . photostamps retail breakage was not material for the third and fourth quarters of 2011. please see note 2 “ summary of significant accounting policies—photostamps retail boxes ” in our notes to consolidated financial statements for further discussion . the increase in photostamps revenue from photostamps retail box breakage was partially offset by lower sales of photostamps through our website and other channels . excluding the photostamps retail box breakage revenue we recognized in the second quarter of 2011 , total photostamps revenue decreased 15 % to $ 6.1 million in 2011 from $

