10-Q Filing

ACCESS Newswire Inc. CIK: 843006 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001654954-16-000300`
Period End Date	20160331
Filing Date	20160509
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	isdr-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 34 Cash Flow Statement 54 Comprehensive Income 6

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$396.88K	USD	Point-in-time
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$422.12K	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
Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.22M	USD	Point-in-time
Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.28M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $422,118 and $396,884, respectively)	`AccountsReceivableNet`	$1.48M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $422,118 and $396,884, respectively)	`AccountsReceivableNet`	$1.25M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$252.47K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$284.67K	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`	$5.72M	USD	Point-in-time
Preferred Stock shares Authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.04M	USD	Point-in-time
Preferred Stock shares Authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred Stock shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Capitalized software, net	`CapitalizedComputerSoftwareNet`	$723.96K	USD	Point-in-time
Preferred Stock shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Capitalized software, net	`CapitalizedComputerSoftwareNet`	$1.22M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$175.50K	USD	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
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$186.19K	USD	Point-in-time
Deferred income tax asset - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$97.97K	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
Deferred income tax asset - noncurrent	`DeferredTaxAssetsNetNoncurrent`	-	USD	Point-in-time
Common Stock shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$18.30K	USD	Point-in-time
Common Stock shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$18.68K	USD	Point-in-time
Goodwill	`Goodwill`	$2.24M	USD	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	2.79M	shares	Point-in-time
Goodwill	`Goodwill`	$2.24M	USD	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	2.79M	shares	Point-in-time
Intangible assets (net of accumulated amortization of $2,771,029 and $2,512,704, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$2.19M	USD	Point-in-time
Intangible assets (net of accumulated amortization of $2,771,029 and $2,512,704, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$1.93M	USD	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	2.79M	shares	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	2.79M	shares	Point-in-time
Total assets	`Assets`	$11.17M	USD	Point-in-time
Total assets	`Assets`	$11.64M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$385.29K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$553.67K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$996.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$527.48K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$165.35K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$199.61K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$875.29K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$822.48K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.40M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$94.57K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$187.49K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$135.49K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$113.22K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.44M	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, 2016 and December 31, 2015.	`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, 2016 and December 31, 2015.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 100,000,000 shares authorized, 2,794,394 and 2,785,044 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively.	`CommonStockValue`	$2.79K	USD	Point-in-time
Common stock $0.001 par value, 100,000,000 shares authorized, 2,794,394 and 2,785,044 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively.	`CommonStockValue`	$2.79K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.42M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.20M	USD	Point-in-time
Other accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-35.15K	USD	Point-in-time
Other accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-25.14K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$798.48K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$388.74K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.20M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.56M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.17M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.64M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.04M	USD	1 Quarter
Revenues	`Revenues`	$3.28M	USD	1 Quarter
Cost of services	`CostOfServices`	$770.08K	USD	1 Quarter
Cost of services	`CostOfServices`	$912.88K	USD	1 Quarter
Gross profit	`GrossProfit`	$2.51M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.13M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$879.78K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$842.16K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$623.96K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$566.06K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$98.63K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$69.16K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$281.76K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$268.34K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$1.82M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$1.81M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$318.09K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$690.22K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$992.00	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-244.85K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$691.21K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$73.24K	USD	1 Quarter
Income tax (expense) benefit	`CurrentIncomeTaxExpenseBenefit`	$197.92K	USD	1 Quarter
Income tax (expense) benefit	`CurrentIncomeTaxExpenseBenefit`	$-163.42K	USD	1 Quarter
Net income	`NetIncomeLoss`	$236.66K	USD	1 Quarter
Net income	`NetIncomeLoss`	$493.29K	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.10	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`	2.79M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.89M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.36M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$236.66K	USD	1 Quarter
Net income	`NetIncomeLoss`	$493.29K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$268.34K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$306.93K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$35.23K	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`	$56.02K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$131.84K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$167.08K	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	$208.34K	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	-	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-292.36K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$257.61K	USD	1 Quarter
Decrease (increase) in deposits and prepaid assets	`IncreaseDecreaseInOtherOperatingAssets`	$32.32K	USD	1 Quarter
Decrease (increase) in deposits and prepaid assets	`IncreaseDecreaseInOtherOperatingAssets`	$68.75K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$130.10K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$167.62K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$87.08K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-484.96K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$50.06K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-74.11K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$501.32K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.08M	USD	1 Quarter
Capitalized software	`PaymentsToDevelopSoftware`	-	USD	1 Quarter
Capitalized software	`PaymentsToDevelopSoftware`	$347.36K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.63K	USD	1 Quarter
Purchase of fixed assets	`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`	$-377.99K	USD	1 Quarter
Proceeds from exercise of stock options, net of income taxes	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of stock options, net of income taxes	`ProceedsFromStockOptionsExercised`	$7.09K	USD	1 Quarter
Payment of dividend	`PaymentsOfDividends`	$83.55K	USD	1 Quarter
Payment of dividend	`PaymentsOfDividends`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-76.46K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$46.87K	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`	$4.22M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$4.28M	USD	Point-in-time
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$-2.77K	USD	1 Quarter
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$14.71K	USD	1 Quarter
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$2.78M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$1.72M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$4.22M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$4.28M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$19.91K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$120.25K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$34.50K	USD	1 Quarter
Stock-based compensation - capitalized software	`StockBasedCompensationCapitalizedSoftware`	$179.20K	USD	1 Quarter
Stock-based compensation - capitalized software	`StockBasedCompensationCapitalizedSoftware`	-	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$236.66K	USD	1 Quarter
Net income	`NetIncomeLoss`	$493.29K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$10.02K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$8.28K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$503.30K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$244.94K	USD	1 Quarter

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