10-Q Filing

ACCESS Newswire Inc. CIK: 843006 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001654954-17-004071`
Period End Date	20170331
Filing Date	20170504
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	isdr-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 34 Cash Flow Statement 50 Comprehensive Income 6

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$429.19K	USD	Point-in-time
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$451.62K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Accumulated Amortization - Capitalized Software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$268.90K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.28M	USD	Point-in-time
Accumulated Amortization - Capitalized Software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$207.44K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.59M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $451,625 and $429,192, respectively)	`AccountsReceivableNet`	$1.30M	USD	Point-in-time
Accumulated Depreciation - Fixed Assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$338.13K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $451,625 and $429,192, respectively)	`AccountsReceivableNet`	$1.32M	USD	Point-in-time
Accumulated Depreciation - Fixed Assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$318.08K	USD	Point-in-time
Accumulated Amortization - Intangible Assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.41M	USD	Point-in-time
Accumulated Amortization - Intangible Assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.32M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$259.08K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$188.58K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.16M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.83M	USD	Point-in-time
Capitalized software (net of accumulated amortization of $268,901 and $207,438, respectively)	`CapitalizedComputerSoftwareNet`	$2.05M	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 $268,901 and $207,438, respectively)	`CapitalizedComputerSoftwareNet`	$2.35M	USD	Point-in-time
Fixed assets (net of accumulated amortization of $338,126 and $318,077, respectively)	`PropertyPlantAndEquipmentNet`	$204.32K	USD	Point-in-time
Fixed assets (net of accumulated amortization of $338,126 and $318,077, respectively)	`PropertyPlantAndEquipmentNet`	$186.73K	USD	Point-in-time
Preferred Stock shares Authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred Stock shares Authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Deferred income tax asset - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$137.24K	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
Preferred Stock shares Issued	`PreferredStockSharesIssued`	0.00	shares	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
Other long-term assets	`OtherAssetsNoncurrent`	$19.21K	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
Goodwill	`Goodwill`	$2.24M	USD	Point-in-time
Common Stock shares par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Intangible assets (net of accumulated amortization of $3,407,190 and $3,323,782, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$1.38M	USD	Point-in-time
Common Stock shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Intangible assets (net of accumulated amortization of $3,407,190 and $3,323,782, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$1.30M	USD	Point-in-time
Common Stock shares Authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	2.91M	shares	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	2.86M	shares	Point-in-time
Total assets	`Assets`	$13.40M	USD	Point-in-time
Total assets	`Assets`	$12.86M	USD	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	2.86M	shares	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	2.91M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$343.42K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$311.88K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$932.30K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$806.40K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$117.52K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$111.96K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$859.34K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$842.64K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.22M	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`	$61.15K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$112.15K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$103.49K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.39M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.28M	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, 1,000,000 and 30,000,000 shares authorized, no shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively.	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 1,000,000 and 30,000,000 shares authorized, no shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 and 100,000,000 shares authorized, 2,912,114 and 2,860,944 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively.	`CommonStockValue`	$2.86K	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 and 100,000,000 shares authorized, 2,912,114 and 2,860,944 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively.	`CommonStockValue`	$2.91K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.37M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.12M	USD	Point-in-time
Other accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-29.46K	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`	$1.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.58M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.01M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$12.86M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.40M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.28M	USD	1 Quarter
Revenues	`Revenues`	$2.86M	USD	1 Quarter
Cost of services	`CostOfRevenue`	$746.10K	USD	1 Quarter
Cost of services	`CostOfRevenue`	$770.08K	USD	1 Quarter
Gross profit	`GrossProfit`	$2.51M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.11M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$842.16K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$911.02K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$593.67K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$623.96K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$69.16K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$124.85K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$105.67K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$281.76K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$1.74M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$1.82M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$374.82K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$690.22K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-9.30K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$992.00	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$365.52K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$691.21K	USD	1 Quarter
Income tax benefit (expense)	`CurrentIncomeTaxExpenseBenefit`	$40.58K	USD	1 Quarter
Income tax benefit (expense)	`CurrentIncomeTaxExpenseBenefit`	$197.92K	USD	1 Quarter
Net income	`NetIncomeLoss`	$493.29K	USD	1 Quarter
Net income	`NetIncomeLoss`	$324.94K	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.90M	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`	2.98M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$493.29K	USD	1 Quarter
Net income	`NetIncomeLoss`	$324.94K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$306.93K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$164.92K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$35.23K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$32.02K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-656.00	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$56.02K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$167.08K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$146.25K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$257.61K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$47.16K	USD	1 Quarter
Decrease (increase) in deposits and prepaid assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-32.32K	USD	1 Quarter
Decrease (increase) in deposits and prepaid assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-71.73K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$167.62K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-31.74K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$114.24K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-484.96K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$15.69K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$50.06K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$501.32K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$646.77K	USD	1 Quarter
Capitalized software	`PaymentsToDevelopSoftware`	$290.04K	USD	1 Quarter
Capitalized software	`PaymentsToDevelopSoftware`	$347.36K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.47K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.63K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-292.50K	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`	$7.09K	USD	1 Quarter
Proceeds from exercise of stock options, net of income taxes	`ProceedsFromStockOptionsExercised`	$26.69K	USD	1 Quarter
Payment of dividend	`PaymentsOfDividends`	$145.21K	USD	1 Quarter
Payment of dividend	`PaymentsOfDividends`	$83.55K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-76.46K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-118.52K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$235.75K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$46.87K	USD	1 Quarter
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$4.22M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$4.28M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.59M	USD	Point-in-time
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$14.56K	USD	1 Quarter
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$14.71K	USD	1 Quarter
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$4.22M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$4.28M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$5.59M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$37.33K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$120.25K	USD	1 Quarter
Stock-based compensation - capitalized software	`StockBasedCompensationCapitalizedSoftware`	$75.94K	USD	1 Quarter
Stock-based compensation - capitalized software	`StockBasedCompensationCapitalizedSoftware`	$179.20K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$493.29K	USD	1 Quarter
Net income	`NetIncomeLoss`	$324.94K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$6.34K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$10.02K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$331.28K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$503.30K	USD	1 Quarter

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