10-Q Filing

ACCESS Newswire Inc. CIK: 843006 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001354488-15-002195`
Period End Date	20150331
Filing Date	20150507
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	isdr-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 34 Cash Flow Statement 48 Comprehensive Income 6

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$460.56K	USD	Point-in-time
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$518.22K	USD	Point-in-time
Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$1.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.82M	USD	Point-in-time
Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$1.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.71M	USD	Point-in-time
Accounts receivable, (net of allowance for doubtful accounts of $518,223 and $460,564, respectively)	`AccountsReceivableNet`	$1.64M	USD	Point-in-time
Accounts receivable, (net of allowance for doubtful accounts of $518,223 and $460,564, respectively)	`AccountsReceivableNet`	$2.01M	USD	Point-in-time
Deferred income tax asset - current	`DeferredTaxAssetsNetCurrent`	$7.29K	USD	Point-in-time
Debt Discount	`DebtInstrumentUnamortizedDiscount`	$535.40K	USD	Point-in-time
Deferred income tax asset - current	`DeferredTaxAssetsNetCurrent`	$91.12K	USD	Point-in-time
Debt Discount	`DebtInstrumentUnamortizedDiscount`	$327.06K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$311.67K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$380.31K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.88M	USD	Point-in-time
Preferred Stock shares par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock shares par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.05M	USD	Point-in-time
Preferred Stock shares Authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred Stock shares Authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Furniture, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$145.38K	USD	Point-in-time
Furniture, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$145.43K	USD	Point-in-time
Preferred Stock shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Goodwill	`Goodwill`	$2.24M	USD	Point-in-time
Goodwill	`Goodwill`	$2.24M	USD	Point-in-time
Preferred Stock shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Intangible assets (net of accumulated amortization of $1,763,100 and $1,517,366, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$3.73M	USD	Point-in-time
Intangible assets (net of accumulated amortization of $1,763,100 and $1,517,366, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$3.49M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$28.00K	USD	Point-in-time
Common Stock shares par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock shares par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$28.29K	USD	Point-in-time
Common Stock shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total assets	`Assets`	$10.20M	USD	Point-in-time
Total assets	`Assets`	$10.79M	USD	Point-in-time
Common Stock shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	2.32M	shares	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	2.32M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$383.98K	USD	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	2.32M	shares	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	2.32M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$255.62K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.19M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.11M	USD	Point-in-time
Income Tax Payable	`AccruedIncomeTaxesCurrent`	$135.53K	USD	Point-in-time
Income Tax Payable	`AccruedIncomeTaxesCurrent`	$133.02K	USD	Point-in-time
Note payable - related party (net of debt discount of $327,062 and $535,397, respectively)	`NotesPayableCurrent`	$1.34M	USD	Point-in-time
Note payable - related party (net of debt discount of $327,062 and $535,397, respectively)	`NotesPayableCurrent`	$1.13M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$877.12K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$795.01K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.85M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$633.78K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$508.33K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$49.59K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$56.73K	USD	Point-in-time
Total liabilities	`Liabilities`	$4.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.20M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 30,000,000 shares authorized, no shares issued and outstanding as of March 31, 2015 and December 31, 2014	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 30,000,000 shares authorized, no shares issued and outstanding as of March 31, 2015 and December 31, 2014	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value,100,000,000 shares authorized, 2,318,243 and 2,316,743 shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$2.32K	USD	Point-in-time
Common stock $0.001 par value,100,000,000 shares authorized, 2,318,243 and 2,316,743 shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$2.32K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.73M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.86M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-47.28K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-39.01K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$563.92K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$327.26K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.01M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.38M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$10.20M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$10.79M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.49M	USD	1 Quarter
Revenues	`Revenues`	$3.04M	USD	1 Quarter
Cost of services	`CostOfServices`	$912.88K	USD	1 Quarter
Cost of services	`CostOfServices`	$1.03M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.47M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$879.78K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.29M	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$445.61K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$566.06K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$77.91K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$98.63K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$268.34K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$281.87K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$1.81M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$2.09M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$318.09K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$375.12K	USD	1 Quarter
Net interest expense	`InterestIncomeExpenseNet`	$-362.06K	USD	1 Quarter
Net interest expense	`InterestIncomeExpenseNet`	$-244.85K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$73.24K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$13.07K	USD	1 Quarter
Income tax benefit (expense)	`CurrentIncomeTaxExpenseBenefit`	$-163.42K	USD	1 Quarter
Income tax benefit (expense)	`CurrentIncomeTaxExpenseBenefit`	$50.01K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$236.66K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-36.94K	USD	1 Quarter
Income (loss) per share - basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Income (loss) per share - basic	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Income (loss) per share - fully diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Income (loss) per share - fully diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.32M	shares	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.02M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.02M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.36M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$236.66K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-36.94K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$268.34K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$281.87K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$104.98K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$76.94K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-209.78K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-165.00	USD	1 Quarter
Stock-based expense	`ShareBasedCompensation`	$131.84K	USD	1 Quarter
Stock-based expense	`ShareBasedCompensation`	$191.20K	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	$208.34K	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	$312.50K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$326.81K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-292.36K	USD	1 Quarter
Decrease (increase) in deposits and other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$279.75K	USD	1 Quarter
Decrease (increase) in deposits and other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$68.75K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$26.66K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$130.10K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-169.07K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$87.08K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-74.11K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-82.83K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$21.63K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.08M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.13K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.34K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.34K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.13K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$97.82K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$97.82K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$111.31K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.06M	USD	1 Quarter
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.72M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.82M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.71M	USD	Point-in-time
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$-3.81K	USD	1 Quarter
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$-2.77K	USD	1 Quarter
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$1.72M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$1.82M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$1.71M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$50.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$19.91K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$34.50K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$331.00K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$236.66K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-36.94K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$8.28K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-6.53K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$244.94K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-43.48K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.