10-K Filing

ACCESS Newswire Inc. CIK: 843006 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001654954-17-001989`
Period End Date	20161231
Filing Date	20170314
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	isdr-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 40 Cash Flow Statement 58 Stockholders Equity 18 Comprehensive Income 6

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$460.56K	USD	Point-in-time
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$429.19K	USD	Point-in-time
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$396.88K	USD	Point-in-time
Accumulated Amortization - Capitalized Software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$25.13K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.72M	USD	Point-in-time
Accumulated Amortization - Capitalized Software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$207.44K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.22M	USD	Point-in-time
Accumulated Depreciation - Fixed Assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$318.08K	USD	Point-in-time
Accumulated Depreciation - Fixed Assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$262.80K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $429,192 and $396,884, respectively)	`AccountsReceivableNet`	$1.25M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $429,192 and $396,884, respectively)	`AccountsReceivableNet`	$1.30M	USD	Point-in-time
Accumulated Amortization - Intangible Assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.32M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$252.47K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$188.58K	USD	Point-in-time
Accumulated Amortization - Intangible Assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.51M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.72M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.83M	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
Capitalized software (net of accumulated amortization of $207,438 and $25,133, respectively)	`CapitalizedComputerSoftwareNet`	$723.96K	USD	Point-in-time
Capitalized software (net of accumulated amortization of $207,438 and $25,133, respectively)	`CapitalizedComputerSoftwareNet`	$2.05M	USD	Point-in-time
Fixed assets (net of accumulated depreciation of $318,077 and $262,797, respectively)	`PropertyPlantAndEquipmentNet`	$175.50K	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
Fixed assets (net of accumulated depreciation of $318,077 and $262,797, respectively)	`PropertyPlantAndEquipmentNet`	$204.32K	USD	Point-in-time
Preferred Stock shares, Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deferred income tax asset - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$140.97K	USD	Point-in-time
Deferred income tax asset - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$97.97K	USD	Point-in-time
Preferred Stock shares, Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$18.30K	USD	Point-in-time
Preferred Stock shares, Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$17.89K	USD	Point-in-time
Preferred Stock shares, Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Goodwill	`Goodwill`	$2.24M	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
Goodwill	`Goodwill`	$2.24M	USD	Point-in-time
Common Stock shares, Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock shares, Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Intangible assets (net of accumulated amortization of $3,323,782 and $2,512,704, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$1.38M	USD	Point-in-time
Intangible assets (net of accumulated amortization of $3,323,782 and $2,512,704, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$2.19M	USD	Point-in-time
Total assets	`Assets`	$12.86M	USD	Point-in-time
Common Stock shares, Issued	`CommonStockSharesIssued`	2.79M	shares	Point-in-time
Common Stock shares, Issued	`CommonStockSharesIssued`	2.86M	shares	Point-in-time
Total assets	`Assets`	$11.17M	USD	Point-in-time
Common Stock shares, Outstanding	`CommonStockSharesOutstanding`	2.86M	shares	Point-in-time
Common Stock shares, Outstanding	`CommonStockSharesOutstanding`	2.79M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$343.42K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$385.29K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$806.40K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$996.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$111.96K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$199.61K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$842.64K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$822.48K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.10M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$66.33K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$94.57K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$113.22K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$112.15K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.28M	USD	Point-in-time
Commitments and contingencies (see Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 30,000,000 shares authorized, no shares issued and outstanding as of December 31, 2016 and 2015.	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 30,000,000 shares authorized, no shares issued and outstanding as of December 31, 2016 and 2015.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 100,000,000 shares authorized, 2,860,944 and 2,785,044 shares issued and outstanding as of December 31, 2016 and 2015, respectively.	`CommonStockValue`	$2.79K	USD	Point-in-time
Common stock $0.001 par value, 100,000,000 shares authorized, 2,860,944 and 2,785,044 shares issued and outstanding as of December 31, 2016 and 2015, respectively.	`CommonStockValue`	$2.86K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.12M	USD	Point-in-time
Other accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-35.15K	USD	Point-in-time
Other accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-35.80K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.49M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$388.74K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.58M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.01M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.56M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$12.86M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$11.17M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$11.62M	USD	Annual
Revenues	`Revenues`	$12.06M	USD	Annual
Cost of services	`CostOfRevenue`	$3.45M	USD	Annual
Cost of services	`CostOfRevenue`	$3.02M	USD	Annual
Gross profit	`GrossProfit`	$8.17M	USD	Annual
Gross profit	`GrossProfit`	$9.03M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.24M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.19M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$2.60M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$2.34M	USD	Annual
Product development	`ResearchAndDevelopmentExpense`	$326.58K	USD	Annual
Product development	`ResearchAndDevelopmentExpense`	$403.62K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.08M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$909.43K	USD	Annual
Impairment loss on intangible assets	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	-	USD	Annual
Impairment loss on intangible assets	`ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill`	$547.00K	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$7.10M	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$7.54M	USD	Annual
Operating income	`OperatingIncomeLoss`	$1.94M	USD	Annual
Operating income	`OperatingIncomeLoss`	$634.24K	USD	Annual
Other income, net	`OtherNonoperatingIncome`	$80.17K	USD	Annual
Other income, net	`OtherNonoperatingIncome`	-	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$-622.14K	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$4.08K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-622.14K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$84.25K	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$2.02M	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$12.10K	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$464.35K	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-132.49K	USD	Annual
Net income	`NetIncomeLoss`	$144.58K	USD	Annual
Net income	`NetIncomeLoss`	$1.56M	USD	Annual
Income per share - basic	`EarningsPerShareBasic`	$0.55	USD	Annual
Income per share - basic	`EarningsPerShareBasic`	$0.06	USD	Annual
Income per share - diluted	`EarningsPerShareDiluted`	$0.06	USD	Annual
Income per share - diluted	`EarningsPerShareDiluted`	$0.54	USD	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.82M	shares	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.49M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.58M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.90M	shares	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$144.58K	USD	Annual
Net income	`NetIncomeLoss`	$1.56M	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$169.02K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$195.33K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.10M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.08M	USD	Annual
Impairment loss on intangible assets	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	Annual
Impairment loss on intangible assets	`ImpairmentOfIntangibleAssetsFinitelived`	$547.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-210.41K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-631.94K	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	$535.40K	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	-	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$592.02K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$549.18K	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$259.13K	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-586.52K	USD	Annual
Decrease (increase) in deposits and prepaid assets	`IncreaseDecreaseInOtherOperatingAssets`	$-68.81K	USD	Annual
Decrease (increase) in deposits and prepaid assets	`IncreaseDecreaseInOtherOperatingAssets`	$-63.17K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-38.60K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$132.17K	USD	Annual
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-44.68K	USD	Annual
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$42.75K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$20.63K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-255.82K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.76M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.18M	USD	Annual
Capitalized software	`PaymentsToDevelopSoftware`	$553.68K	USD	Annual
Capitalized software	`PaymentsToDevelopSoftware`	$1.08M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$109.51K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$112.24K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-663.20K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.19M	USD	Annual
Proceeds from exercise of stock options, net of income taxes	`ProceedsFromStockOptionsExercised`	$34.99K	USD	Annual
Proceeds from exercise of stock options, net of income taxes	`ProceedsFromStockOptionsExercised`	$28.10K	USD	Annual
Excess tax benefit from share based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	Annual
Excess tax benefit from share based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$38.23K	USD	Annual
Payment of dividend	`PaymentsOfDividends`	$452.72K	USD	Annual
Payment of dividend	`PaymentsOfDividends`	$83.10K	USD	Annual
Net cash (used in)/provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.77K	USD	Annual
Net cash (used in)/provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-417.73K	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.15M	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.50M	USD	Annual
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.72M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$4.22M	USD	Point-in-time
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$-30.14K	USD	Annual
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$-2.80K	USD	Annual
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$1.72M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$4.22M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for interest	`InterestPaid`	$85.87K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$715.61K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$282.95K	USD	Annual
Stock-based compensation - capitalized software	`StockbasedCompensationCapitalizedSoftware`	$429.23K	USD	Annual
Stock-based compensation - capitalized software	`StockbasedCompensationCapitalizedSoftware`	$195.41K	USD	Annual
Conversion of note payable to common stock	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Conversion of note payable to common stock	`DebtConversionConvertedInstrumentAmount1`	$1.67M	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$10.58M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$6.01M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$8.56M	USD	Point-in-time
Stock-based compensation expense, amount	`StockIssuedDuringPeriodValueShareBasedCompensation`	$744.60K	USD	Annual
Stock-based compensation expense, amount	`StockIssuedDuringPeriodValueShareBasedCompensation`	$882.09K	USD	Annual
Exercise of stock options, net of tax, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$66.33K	USD	Annual
Exercise of stock options, net of tax, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$34.99K	USD	Annual
Shares issued upon partial conversion of note payable (see Note 6), Amount	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Shares issued upon partial conversion of note payable (see Note 6), Amount	`DebtConversionConvertedInstrumentAmount1`	$1.67M	USD	Annual
Dividends	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$-83.10K	USD	Annual
Dividends	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$-452.72K	USD	Annual
Foreign currency translation	`FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments`	$12.13K	USD	Annual
Foreign currency translation	`FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments`	$-644.00	USD	Annual
Net income	`NetIncomeLoss`	$144.58K	USD	Annual
Net income	`NetIncomeLoss`	$1.56M	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$10.58M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$6.01M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$8.56M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$144.58K	USD	Annual
Net income	`NetIncomeLoss`	$1.56M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-644.00	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$12.13K	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.55M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$156.71K	USD	Annual

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