10-K Filing

ACCESS Newswire Inc. CIK: 843006 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001654954-18-002057`
Period End Date	20171231
Filing Date	20180301
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	isdr-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 89 Income Statement 38 Cash Flow Statement 54 Stockholders Equity 17 Comprehensive Income 6

Balance Sheet 89 line items

Line Item	Tag	Value	Unit	Period
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$397.00K	USD	Point-in-time
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$425.00K	USD	Point-in-time
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$429.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.21M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Accumulated Amortization - Capitalized Software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$497.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.92M	USD	Point-in-time
Accumulated Amortization - Capitalized Software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$207.00K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $425 and $429, respectively)	`AccountsReceivableNet`	$1.27M	USD	Point-in-time
Accumulated Depreciation - Fixed Assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$388.00K	USD	Point-in-time
Accumulated Depreciation - Fixed Assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$318.00K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $425 and $429, respectively)	`AccountsReceivableNet`	$1.30M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$725.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Accumulated Amortization - Intangible Assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.32M	USD	Point-in-time
Accumulated Amortization - Intangible Assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.70M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$193.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$188.00K	USD	Point-in-time
Long-Term Notes Payable Discount	`DebtInstrumentUnamortizedDiscountNoncurrent`	-	USD	Point-in-time
Long-Term Notes Payable Discount	`DebtInstrumentUnamortizedDiscountNoncurrent`	$70.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.11M	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 $497 and $207, respectively)	`CapitalizedComputerSoftwareNet`	$2.75M	USD	Point-in-time
Capitalized software (net of accumulated amortization of $497 and $207, respectively)	`CapitalizedComputerSoftwareNet`	$2.05M	USD	Point-in-time
Fixed assets (net of accumulated depreciation of $388 and $318, respectively)	`PropertyPlantAndEquipmentNet`	$145.00K	USD	Point-in-time
Preferred Stock shares, Authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Fixed assets (net of accumulated depreciation of $388 and $318, respectively)	`PropertyPlantAndEquipmentNet`	$204.00K	USD	Point-in-time
Preferred Stock shares, Authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Deferred income tax asset - noncurrent	`DeferredTaxAssetsNetNoncurrent`	-	USD	Point-in-time
Preferred Stock shares, Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deferred income tax asset - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$141.00K	USD	Point-in-time
Preferred Stock shares, Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Preferred Stock shares, Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$18.00K	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`	$4.07M	USD	Point-in-time
Intangible assets (net of accumulated amortization of $3,699 and $3,324, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$1.38M	USD	Point-in-time
Intangible assets (net of accumulated amortization of $3,699 and $3,324, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$2.86M	USD	Point-in-time
Common Stock shares, Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock shares, Authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Total assets	`Assets`	$12.86M	USD	Point-in-time
Common Stock shares, Issued	`CommonStockSharesIssued`	2.86M	shares	Point-in-time
Common Stock shares, Issued	`CommonStockSharesIssued`	3.01M	shares	Point-in-time
Total assets	`Assets`	$16.95M	USD	Point-in-time
Common Stock shares, Outstanding	`CommonStockSharesOutstanding`	3.01M	shares	Point-in-time
Common Stock shares, Outstanding	`CommonStockSharesOutstanding`	2.86M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$666.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$343.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$806.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$613.00K	USD	Point-in-time
Current portion of note payable (See Note 4)	`NotesPayableCurrent`	-	USD	Point-in-time
Current portion of note payable (See Note 4)	`NotesPayableCurrent`	$288.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$112.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$65.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$887.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$843.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.10M	USD	Point-in-time
Note payable long-term (net of discount of $70 as of December 31, 2017) (See Note 4)	`LongTermNotesPayable`	$570.00K	USD	Point-in-time
Note payable long-term (net of discount of $70 as of December 31, 2017) (See Note 4)	`LongTermNotesPayable`	-	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$67.00K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$573.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$112.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$77.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.74M	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, 1,000,000 and 30,000,000 shares authorized, no shares issued and outstanding as of December 31, 2017 and 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 December 31, 2017 and 2016, respectively.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 and 100,000,000 shares authorized, 3,014,494 and 2,860,944 shares issued and outstanding as of December 31, 2017 and 2016, respectively.	`CommonStockValue`	$3.00K	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 and 100,000,000 shares authorized, 3,014,494 and 2,860,944 shares issued and outstanding as of December 31, 2017 and 2016, respectively.	`CommonStockValue`	$3.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.40M	USD	Point-in-time
Other accumulated comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-36.00K	USD	Point-in-time
Other accumulated comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$34.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.49M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.77M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.21M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.56M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$10.58M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$16.95M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$12.86M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$12.06M	USD	Annual
Revenues	`Revenues`	$12.63M	USD	Annual
Cost of services	`CostOfRevenue`	$3.02M	USD	Annual
Cost of services	`CostOfRevenue`	$3.40M	USD	Annual
Gross profit	`GrossProfit`	$9.03M	USD	Annual
Gross profit	`GrossProfit`	$9.23M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.38M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.19M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$2.60M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$2.60M	USD	Annual
Product development	`ResearchAndDevelopmentExpense`	$404.00K	USD	Annual
Product development	`ResearchAndDevelopmentExpense`	$763.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$454.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$909.00K	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$7.10M	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$7.21M	USD	Annual
Operating income	`OperatingIncomeLoss`	$1.94M	USD	Annual
Operating income	`OperatingIncomeLoss`	$2.03M	USD	Annual
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$80.00K	USD	Annual
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-24.00K	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$-2.00K	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$4.00K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-26.00K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$84.00K	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$2.02M	USD	Annual
Income before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$2.00M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$131.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$464.00K	USD	Annual
Net income	`NetIncomeLoss`	$1.87M	USD	Annual
Net income	`NetIncomeLoss`	$1.55M	USD	Annual
Income per share - basic	`EarningsPerShareBasic`	$0.55	USD	Annual
Income per share - basic	`EarningsPerShareBasic`	$0.63	USD	Annual
Income per share - diluted	`EarningsPerShareDiluted`	$0.62	USD	Annual
Income per share - diluted	`EarningsPerShareDiluted`	$0.54	USD	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.95M	shares	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.82M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.90M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.03M	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.87M	USD	Annual
Net income	`NetIncomeLoss`	$1.55M	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$195.00K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$181.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.08M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$735.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-210.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-50.00K	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	$6.00K	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	-	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$516.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$592.00K	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$259.00K	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$66.00K	USD	Annual
Decrease (increase) in deposits and prepaid assets	`IncreaseDecreaseInOtherOperatingAssets`	$711.00K	USD	Annual
Decrease (increase) in deposits and prepaid assets	`IncreaseDecreaseInOtherOperatingAssets`	$-63.00K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-39.00K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$309.00K	USD	Annual
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$12.00K	USD	Annual
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$43.00K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-291.00K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-256.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.51M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.76M	USD	Annual
Purchase of Interwest, net of cash received (See Note 4)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.87M	USD	Annual
Purchase of Interwest, net of cash received (See Note 4)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Capitalized software	`PaymentsToDevelopSoftware`	$934.00K	USD	Annual
Capitalized software	`PaymentsToDevelopSoftware`	$1.08M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$112.00K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.19M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.82M	USD	Annual
Proceeds from exercise of stock options, net of income taxes	`ProceedsFromStockOptionsExercised`	$389.00K	USD	Annual
Proceeds from exercise of stock options, net of income taxes	`ProceedsFromStockOptionsExercised`	$35.00K	USD	Annual
Payment of dividend	`PaymentsOfDividends`	$588.00K	USD	Annual
Payment of dividend	`PaymentsOfDividends`	$453.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-418.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-199.00K	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-504.00K	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.15M	USD	Annual
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$4.21M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$4.92M	USD	Point-in-time
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$-30.00K	USD	Annual
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$82.00K	USD	Annual
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$4.21M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$4.92M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$716.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$943.00K	USD	Annual
Stock-based compensation - capitalized software	`StockbasedCompensationCapitalizedSoftware`	$57.00K	USD	Annual
Stock-based compensation - capitalized software	`StockbasedCompensationCapitalizedSoftware`	$430.00K	USD	Annual
Purchase of Interwest in exchange of note payable	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Purchase of Interwest in exchange of note payable	`DebtConversionConvertedInstrumentAmount1`	$851.00K	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$13.21M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$8.56M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$10.58M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$573.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$882.00K	USD	Annual
Exercise of stock awards, net of tax, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$389.00K	USD	Annual
Exercise of stock awards, net of tax, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$36.00K	USD	Annual
Shares issued upon acquisition of Interwest (see Note 4), amount	`StockIssuedDuringPeriodValueAcquisitions`	$318.00K	USD	Annual
Dividends	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$-588.00K	USD	Annual
Dividends	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$-453.00K	USD	Annual
Foreign currency translation	`FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments`	$70.00K	USD	Annual
Foreign currency translation	`FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments`	$-1.00K	USD	Annual
Net income	`NetIncomeLoss`	$1.87M	USD	Annual
Net income	`NetIncomeLoss`	$1.55M	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$13.21M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$8.56M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$10.58M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.87M	USD	Annual
Net income	`NetIncomeLoss`	$1.55M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$70.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-1.00K	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.94M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.55M	USD	Annual

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