the company provides these services to its clients under annual client service contracts , although such contracts are generally cancelable on short or no notice without penalty . the company also derives some revenue from its custom and other research projects . services are provided under subscription-based service agreements . the company recognizes subscription-based service revenue over the period of time the service is provided . generally , the subscription periods are for twelve months and revenue is recognized equally over the subscription period . certain contracts are fixed-fee arrangements with a portion of the project fee billed in advance and the remainder billed periodically over the duration of the project . revenue and direct expenses for services provided under these contracts are recognized under the proportional performance method . under the proportional performance method , the company recognizes revenue based on output measures or key milestones such as survey set-up , survey mailings , survey returns and reporting . the company measures its progress based on the level of completion of these output measures and recognizes revenue accordingly . management judgments and estimates must be made and used in connection with revenue recognized using the proportional performance method . if management made different judgments and estimates , then the amount and timing of revenue for any period could differ materially from the reported revenue . the company also derives revenue from hosting arrangements where our propriety software is offered as a service to our customers through our data processing facilities . the company 's revenue also includes software-related revenue for software license revenue , installation services , post-contract support ( maintenance ) and training . software-related revenue is recognized in accordance with the provisions of accounting standards codification ( “ asc ” ) 985-605 , software-revenue recognition . hosting arrangements to provide customers with access to the company 's propriety software are marketed under long-term arrangements , generally over periods of one to three years . under these arrangements , the customer is not provided the contractual right to take possession of the licensed software at any time during the hosting period without significant penalty , and the customer is not provided the right to run the software on their own hardware or contract with another party unrelated to us to host the software . upfront fees for set-up services are typically billed for our hosting arrangements . however , these arrangements do not qualify for separation from the ongoing hosting services due to the absence of standalone value for the set-up services . therefore , we account for these arrangements as service contracts and recognize revenue ratably over the hosting service period when all other conditions to revenue are met . other conditions that must be met before the commencement of revenue recognition include achieving evidence of an arrangement , determining that the collection of the revenue is probable , and determining that fees are fixed and determinable . the company 's software arrangements typically involve the sale of a time-based license bundled with installation services , post-contract support ( “ pcs ” ) and training . license terms range from one year to three years and require an annual fee for bundled elements of the arrangement . pcs is also contractually provided for a period that is co-terminus with the term of the time-based license . the company 's installation services are not considered to be essential to the functionality of the software license . the company does not achieve vendor-specific objective evidence ( “ vsoe ” ) of the fair value of the undelivered elements of its software arrangements ( primarily pcs ) and , therefore , these arrangements are accounted for as a single unit of accounting with revenue recognized ratably over the minimum bundled pcs period . 18 the company 's revenue arrangements ( not involving software elements ) may include multiple elements . in assessing the separation of revenue for elements of such arrangements , we first determine whether each delivered element has standalone value based on whether we or other vendors sell the services separately . we also consider whether there is sufficient evidence of the fair value of the elements in allocating the fees in the arrangement to each element . revenue allocated to an element is limited to revenue that is not subject to refund or otherwise represents contingent revenue . on january 1 , 2011 , the company prospectively adopted accounting standard update ( “ asu ” ) 2009-13 , revenue recognition ( topic 605 ) : multiple-deliverable revenue arrangements ( asu 2009-13 ) . for arrangements entered into or materially modified beginning january 1 , 2011 , we allocated revenue to arrangements with multiple elements based on relative selling price using a selling price hierarchy . the selling price for a deliverable is based on its vsoe if it exists , otherwise third-party evidence of selling price . if neither exists for a deliverable , the best estimate of the selling price is used for that deliverable based on list price , representing a component of management 's market strategy , and an analysis of historical prices for bundled and standalone arrangements . valuation of goodwill and identifiable intangible assets intangible assets include customer relationships , trade names , non-compete agreements and goodwill . intangible assets with estimable useful lives are amortized over their respective estimated useful lives to their estimated residual values and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable . the company reviews intangible assets with indefinite lives for impairment annually as of october 1 and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable . story_separator_special_tag 23 net cash provided by operating activities was $ 18.5 million for the year ended december 31 , 2011 , which included net income of $ 11.6 million , plus non-cash charges ( benefits ) for deferred tax expense , depreciation and amortization , tax benefit from exercise of stock options and non-cash stock compensation totaling $ 7.2 million . changes in working capital decreased 2011 cash flows from operating activities by $ 273,000 , primarily due to timing of initial billings on new or renewal contracts decreasing cash flows provided from trade accounts receivable and deferred revenue , partially offset by timing of payments on accrued expenses and income taxes . net cash provided by operating activities was $ 14.6 million for the year ended december 31 , 2010 , which included net income of $ 8.5 million , plus non cash charges ( benefits ) for deferred tax expense , depreciation and amortization and non-cash stock compensation totaling $ 6.1 million . story_separator_special_tag the company believes it has adequate cash flows from operations to meet its debt and capital needs . the company entered into a revolving credit note in 2006. the maximum aggregate amount available under the revolving credit note following an addendum to the note in march 2008 , is $ 6.5 million . the revolving credit note was renewed in june 2012 to extend the term to june 30 , 2013. the company may borrow , repay and re-borrow amounts under the revolving credit note from time to time until its maturity on june 30 , 2013. the company expects to extend the term of the revolving credit note for at least one year beyond the maturity date . if , however , the note can not be extended , the company believes it has adequate cash flows from operations to meet its debt and capital needs . the term notes and revolving line of credit are secured by certain of the company 's assets , including the company 's land , building , accounts receivable and intangible assets . the term notes and the revolving credit note contain various restrictions and covenants applicable to the company , including requirements that the company maintain certain financial ratios at prescribed levels and restrictions on the ability of the company to consolidate or merge , create liens , incur additional indebtedness or dispose of assets . as of december 31 , 2012 , the company was in compliance with these restrictions and covenants . the maximum aggregate amount available under the revolving credit note of $ 6.5 million is subject to a borrowing base equal to 75.0 % of the company 's eligible accounts receivable . borrowings under the renewed revolving credit note bear interest at a variable annual rate , with three rate options at the discretion of management as follows : ( 1 ) 2.5 % plus the daily reset one-month london interbank offered rate ( “ libor ” ) rate , or ( 2 ) 2.2 % plus the one- , two- , three- , six- or twelve-month libor rate , or ( 3 ) the bank 's money market loan rate . the rate at december 31 , 2012 , was 2.71 % . as of december 31 , 2012 , the revolving credit note did not have a balance . according to borrowing base requirements , the company had the capacity to borrow $ 6.5 million as of december 31 , 2012 . 25 contractual obligations the company had contractual obligations to make payments in the following amounts in the future as of december 31 , 2012 : replace_table_token_8_th ( 1 ) amounts are inclusive of interest payments , where applicable ( 2 ) we have $ 224,000 in liabilities associated with uncertain tax positions . we are unable to reasonably estimate the expected cash settlement dates of these uncertain tax positions with the taxing authorities . the company generally does not make unconditional , non-cancelable purchase commitments . the company enters into purchase orders in the normal course of business , but these purchase obligations do not exceed one year . shareholders ' equity increased $ 1.2 million to $ 56.7 million in 2012 , from $ 55.6 million in 2011. the increase was primarily due to net income of $ 15.1 million and $ 8.2 million of related share-based compensation , partially offset by dividends paid of $ 17.4 million and stock re-purchases of $ 5.2 million . dividends paid in 2012 include $ 10.3 million for a special dividend paid in the fourth quarter of 2012. stock repurchase program in february 2006 , the board of directors of the company authorized the repurchase of 750,000 shares of common stock in the open market or in privately negotiated transactions . as of december 31 , 2012 , the remaining number of shares that could be purchased under this authorization was 143,398. off-balance sheet obligations the company has no significant off-balance sheet obligations other than the operating lease commitments disclosed in “ liquidity and capital resources . ” adoption of new accounting pronouncements in june 2011 , the fasb issued asu no . 2011-05 , presentation of comprehensive income , which amends asc 220 , comprehensive income , by requiring all non-owner changes in shareholders ' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements . the guidance was effective retrospectively for fiscal years and interim periods within those years beginning after december 15 , 2011. in december 2011 , the fasb issued asu no . 2011-12 , deferral of the effective date for amendments to the presentation of reclassifications of items out of accumulated other comprehensive income in accounting standards update no . 2011-05 , which defers certain portions of asu no . 2011-05 indefinitely and will be further deliberated by the fasb at a future date . the company adopted the requirements of asu 2011-05 and asu 2011-12 by

cash flows from investing activities net cash of $ 2.3 million was used for investing activities in the year ended december 31 , 2012. purchases of property and equipment totaled the $ 2.3 million . net cash of $ 6.9 million was used for investing activities in the year ended december 31 , 2011. earn-out payments related to the miv acquisition approximated $ 4.1 million , and purchases of property and equipment totaled $ 2.8 million . net cash of $ 17.0 million was used for investing activities in the year ended december 31 , 2010. cash of $ 15.3 million was used for the acquisition of ocs and $ 172,000 was paid under the earn-out related to the miv acquisition . cash of $ 1.5 million was used for the purchase of property and equipment . cash flows from financing activities net cash used in financing activities was $ 16.7 million in the year ended december 31 , 2012. proceeds from the exercise of stock options and the excess tax benefit of share-based compensation provided cash of $ 1.3 million and $ 2.1 million , respectively , partially offset by repurchases of shares for payroll tax withholdings related to share-based compensation of $ 527,000. cash was used to pay dividends of $ 17.4 million , including a special dividend of $ 10.3 million in the fourth quarter of 2012. cash was also used to repay borrowings under the term note totaling $ 2.1 million and capital lease obligations of $ 109,000. net cash used in financing activities was $ 6.9


 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.
     ```cash flows from investing activities net cash of $ 2.3 million was used for investing activities in the year ended december 31 , 2012. purchases of property and equipment totaled the $ 2.3 million . net cash of $ 6.9 million was used for investing activities in the year ended december 31 , 2011. earn-out payments related to the miv acquisition approximated $ 4.1 million , and purchases of property and equipment totaled $ 2.8 million . net cash of $ 17.0 million was used for investing activities in the year ended december 31 , 2010. cash of $ 15.3 million was used for the acquisition of ocs and $ 172,000 was paid under the earn-out related to the miv acquisition . cash of $ 1.5 million was used for the purchase of property and equipment . cash flows from financing activities net cash used in financing activities was $ 16.7 million in the year ended december 31 , 2012. proceeds from the exercise of stock options and the excess tax benefit of share-based compensation provided cash of $ 1.3 million and $ 2.1 million , respectively , partially offset by repurchases of shares for payroll tax withholdings related to share-based compensation of $ 527,000. cash was used to pay dividends of $ 17.4 million , including a special dividend of $ 10.3 million in the fourth quarter of 2012. cash was also used to repay borrowings under the term note totaling $ 2.1 million and capital lease obligations of $ 109,000. net cash used in financing activities was $ 6.9
```    
 Suspicious Activity Report : the company provides these services to its clients under annual client service contracts , although such contracts are generally cancelable on short or no notice without penalty . the company also derives some revenue from its custom and other research projects . services are provided under subscription-based service agreements . the company recognizes subscription-based service revenue over the period of time the service is provided . generally , the subscription periods are for twelve months and revenue is recognized equally over the subscription period . certain contracts are fixed-fee arrangements with a portion of the project fee billed in advance and the remainder billed periodically over the duration of the project . revenue and direct expenses for services provided under these contracts are recognized under the proportional performance method . under the proportional performance method , the company recognizes revenue based on output measures or key milestones such as survey set-up , survey mailings , survey returns and reporting . the company measures its progress based on the level of completion of these output measures and recognizes revenue accordingly . management judgments and estimates must be made and used in connection with revenue recognized using the proportional performance method . if management made different judgments and estimates , then the amount and timing of revenue for any period could differ materially from the reported revenue . the company also derives revenue from hosting arrangements where our propriety software is offered as a service to our customers through our data processing facilities . the company 's revenue also includes software-related revenue for software license revenue , installation services , post-contract support ( maintenance ) and training . software-related revenue is recognized in accordance with the provisions of accounting standards codification ( “ asc ” ) 985-605 , software-revenue recognition . hosting arrangements to provide customers with access to the company 's propriety software are marketed under long-term arrangements , generally over periods of one to three years . under these arrangements , the customer is not provided the contractual right to take possession of the licensed software at any time during the hosting period without significant penalty , and the customer is not provided the right to run the software on their own hardware or contract with another party unrelated to us to host the software . upfront fees for set-up services are typically billed for our hosting arrangements . however , these arrangements do not qualify for separation from the ongoing hosting services due to the absence of standalone value for the set-up services . therefore , we account for these arrangements as service contracts and recognize revenue ratably over the hosting service period when all other conditions to revenue are met . other conditions that must be met before the commencement of revenue recognition include achieving evidence of an arrangement , determining that the collection of the revenue is probable , and determining that fees are fixed and determinable . the company 's software arrangements typically involve the sale of a time-based license bundled with installation services , post-contract support ( “ pcs ” ) and training . license terms range from one year to three years and require an annual fee for bundled elements of the arrangement . pcs is also contractually provided for a period that is co-terminus with the term of the time-based license . the company 's installation services are not considered to be essential to the functionality of the software license . the company does not achieve vendor-specific objective evidence ( “ vsoe ” ) of the fair value of the undelivered elements of its software arrangements ( primarily pcs ) and , therefore , these arrangements are accounted for as a single unit of accounting with revenue recognized ratably over the minimum bundled pcs period . 18 the company 's revenue arrangements ( not involving software elements ) may include multiple elements . in assessing the separation of revenue for elements of such arrangements , we first determine whether each delivered element has standalone value based on whether we or other vendors sell the services separately . we also consider whether there is sufficient evidence of the fair value of the elements in allocating the fees in the arrangement to each element . revenue allocated to an element is limited to revenue that is not subject to refund or otherwise represents contingent revenue . on january 1 , 2011 , the company prospectively adopted accounting standard update ( “ asu ” ) 2009-13 , revenue recognition ( topic 605 ) : multiple-deliverable revenue arrangements ( asu 2009-13 ) . for arrangements entered into or materially modified beginning january 1 , 2011 , we allocated revenue to arrangements with multiple elements based on relative selling price using a selling price hierarchy . the selling price for a deliverable is based on its vsoe if it exists , otherwise third-party evidence of selling price . if neither exists for a deliverable , the best estimate of the selling price is used for that deliverable based on list price , representing a component of management 's market strategy , and an analysis of historical prices for bundled and standalone arrangements . valuation of goodwill and identifiable intangible assets intangible assets include customer relationships , trade names , non-compete agreements and goodwill . intangible assets with estimable useful lives are amortized over their respective estimated useful lives to their estimated residual values and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable . the company reviews intangible assets with indefinite lives for impairment annually as of october 1 and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable . story_separator_special_tag 23 net cash provided by operating activities was $ 18.5 million for the year ended december 31 , 2011 , which included net income of $ 11.6 million , plus non-cash charges ( benefits ) for deferred tax expense , depreciation and amortization , tax benefit from exercise of stock options and non-cash stock compensation totaling $ 7.2 million . changes in working capital decreased 2011 cash flows from operating activities by $ 273,000 , primarily due to timing of initial billings on new or renewal contracts decreasing cash flows provided from trade accounts receivable and deferred revenue , partially offset by timing of payments on accrued expenses and income taxes . net cash provided by operating activities was $ 14.6 million for the year ended december 31 , 2010 , which included net income of $ 8.5 million , plus non cash charges ( benefits ) for deferred tax expense , depreciation and amortization and non-cash stock compensation totaling $ 6.1 million . story_separator_special_tag the company believes it has adequate cash flows from operations to meet its debt and capital needs . the company entered into a revolving credit note in 2006. the maximum aggregate amount available under the revolving credit note following an addendum to the note in march 2008 , is $ 6.5 million . the revolving credit note was renewed in june 2012 to extend the term to june 30 , 2013. the company may borrow , repay and re-borrow amounts under the revolving credit note from time to time until its maturity on june 30 , 2013. the company expects to extend the term of the revolving credit note for at least one year beyond the maturity date . if , however , the note can not be extended , the company believes it has adequate cash flows from operations to meet its debt and capital needs . the term notes and revolving line of credit are secured by certain of the company 's assets , including the company 's land , building , accounts receivable and intangible assets . the term notes and the revolving credit note contain various restrictions and covenants applicable to the company , including requirements that the company maintain certain financial ratios at prescribed levels and restrictions on the ability of the company to consolidate or merge , create liens , incur additional indebtedness or dispose of assets . as of december 31 , 2012 , the company was in compliance with these restrictions and covenants . the maximum aggregate amount available under the revolving credit note of $ 6.5 million is subject to a borrowing base equal to 75.0 % of the company 's eligible accounts receivable . borrowings under the renewed revolving credit note bear interest at a variable annual rate , with three rate options at the discretion of management as follows : ( 1 ) 2.5 % plus the daily reset one-month london interbank offered rate ( “ libor ” ) rate , or ( 2 ) 2.2 % plus the one- , two- , three- , six- or twelve-month libor rate , or ( 3 ) the bank 's money market loan rate . the rate at december 31 , 2012 , was 2.71 % . as of december 31 , 2012 , the revolving credit note did not have a balance . according to borrowing base requirements , the company had the capacity to borrow $ 6.5 million as of december 31 , 2012 . 25 contractual obligations the company had contractual obligations to make payments in the following amounts in the future as of december 31 , 2012 : replace_table_token_8_th ( 1 ) amounts are inclusive of interest payments , where applicable ( 2 ) we have $ 224,000 in liabilities associated with uncertain tax positions . we are unable to reasonably estimate the expected cash settlement dates of these uncertain tax positions with the taxing authorities . the company generally does not make unconditional , non-cancelable purchase commitments . the company enters into purchase orders in the normal course of business , but these purchase obligations do not exceed one year . shareholders ' equity increased $ 1.2 million to $ 56.7 million in 2012 , from $ 55.6 million in 2011. the increase was primarily due to net income of $ 15.1 million and $ 8.2 million of related share-based compensation , partially offset by dividends paid of $ 17.4 million and stock re-purchases of $ 5.2 million . dividends paid in 2012 include $ 10.3 million for a special dividend paid in the fourth quarter of 2012. stock repurchase program in february 2006 , the board of directors of the company authorized the repurchase of 750,000 shares of common stock in the open market or in privately negotiated transactions . as of december 31 , 2012 , the remaining number of shares that could be purchased under this authorization was 143,398. off-balance sheet obligations the company has no significant off-balance sheet obligations other than the operating lease commitments disclosed in “ liquidity and capital resources . ” adoption of new accounting pronouncements in june 2011 , the fasb issued asu no . 2011-05 , presentation of comprehensive income , which amends asc 220 , comprehensive income , by requiring all non-owner changes in shareholders ' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements . the guidance was effective retrospectively for fiscal years and interim periods within those years beginning after december 15 , 2011. in december 2011 , the fasb issued asu no . 2011-12 , deferral of the effective date for amendments to the presentation of reclassifications of items out of accumulated other comprehensive income in accounting standards update no . 2011-05 , which defers certain portions of asu no . 2011-05 indefinitely and will be further deliberated by the fasb at a future date . the company adopted the requirements of asu 2011-05 and asu 2011-12 by

