10-Q Filing

ACCESS Newswire Inc. CIK: 843006 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001654954-18-004721`
Period End Date	20180331
Filing Date	20180503
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	isdr-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 38 Cash Flow Statement 52 Comprehensive Income 6

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$444.00K	USD	Point-in-time
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$425.00K	USD	Point-in-time
Accumulated Amortization - Capitalized Software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$698.00K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.48M	USD	Point-in-time
Accumulated Depreciation - Fixed Assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$388.00K	USD	Point-in-time
Accumulated Depreciation - Fixed Assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$402.00K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $444 and $425, respectively)	`AccountsReceivableNet`	$1.49M	USD	Point-in-time
Accumulated Amortization - Intangible Assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.82M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $444 and $425, respectively)	`AccountsReceivableNet`	$1.27M	USD	Point-in-time
Accumulated Amortization - Intangible Assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.70M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$725.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$744.00K	USD	Point-in-time
Long-Term Notes Payable Discount	`DebtInstrumentUnamortizedDiscountNoncurrent`	$70.00K	USD	Point-in-time
Long-Term Notes Payable Discount	`DebtInstrumentUnamortizedDiscountNoncurrent`	$64.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$193.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$244.00K	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`	$7.96M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.11M	USD	Point-in-time
Preferred Stock Shares, Authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Capitalized software (net of accumulated amortization of $698 and $497, respectively)	`CapitalizedComputerSoftwareNet`	$2.55M	USD	Point-in-time
Capitalized software (net of accumulated amortization of $698 and $497, respectively)	`CapitalizedComputerSoftwareNet`	$2.75M	USD	Point-in-time
Preferred Stock Shares, Authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred Stock Shares, Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock Shares, Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Fixed assets (net of accumulated amortization of $402 and $388, respectively)	`PropertyPlantAndEquipmentNet`	$145.00K	USD	Point-in-time
Fixed assets (net of accumulated amortization of $402 and $388, respectively)	`PropertyPlantAndEquipmentNet`	$156.00K	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
Other long-term assets	`OtherAssetsNoncurrent`	$19.00K	USD	Point-in-time
Preferred Stock Shares, Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Goodwill	`Goodwill`	$4.07M	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
Common Stock Shares, Authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Intangible assets (net of accumulated amortization of $3,824 and $3,699, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$2.73M	USD	Point-in-time
Intangible assets (net of accumulated amortization of $3,824 and $3,699, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$2.86M	USD	Point-in-time
Common Stock Shares, Authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Total assets	`Assets`	$16.95M	USD	Point-in-time
Total assets	`Assets`	$17.48M	USD	Point-in-time
Common Stock Shares, Issued	`CommonStockSharesIssued`	3.01M	shares	Point-in-time
Common Stock Shares, Issued	`CommonStockSharesIssued`	3.06M	shares	Point-in-time
Common Stock Shares, Outstanding	`CommonStockSharesOutstanding`	3.01M	shares	Point-in-time
Common Stock Shares, Outstanding	`CommonStockSharesOutstanding`	3.06M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$513.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$666.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$613.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$558.00K	USD	Point-in-time
Current portion of note payable (See Note 3)	`NotesPayableCurrent`	$288.00K	USD	Point-in-time
Current portion of note payable (See Note 3)	`NotesPayableCurrent`	$288.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$66.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$65.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.12M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$887.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.55M	USD	Point-in-time
Note payable long-term (net of discount of $64 and $70, respectively) (See Note 3)	`LongTermNotesPayable`	$570.00K	USD	Point-in-time
Note payable long-term (net of discount of $64 and $70, respectively) (See Note 3)	`LongTermNotesPayable`	$576.00K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$565.00K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$573.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$77.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$67.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.74M	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 shares authorized, no shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively.	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 1,000,000 shares authorized, no shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,062,120 and 3,014,494 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively.	`CommonStockValue`	$3.00K	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,062,120 and 3,014,494 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively.	`CommonStockValue`	$3.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.70M	USD	Point-in-time
Other accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$34.00K	USD	Point-in-time
Other accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$77.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.94M	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`	$13.72M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$17.48M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$16.95M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.53M	USD	1 Quarter
Revenues	`Revenues`	$2.86M	USD	1 Quarter
Cost of services	`CostOfRevenue`	$1.02M	USD	1 Quarter
Cost of services	`CostOfRevenue`	$746.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$2.51M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.11M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.00M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$911.00K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$750.00K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$593.00K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$298.00K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$125.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$106.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$142.00K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$2.19M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$1.74M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$375.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$315.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-10.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-5.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$1.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-9.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-5.00K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$310.00K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$366.00K	USD	1 Quarter
Income tax (benefit) expense	`CurrentIncomeTaxExpenseBenefit`	$41.00K	USD	1 Quarter
Income tax (benefit) expense	`CurrentIncomeTaxExpenseBenefit`	$-10.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$325.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$320.00K	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.10	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`	3.04M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.11M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.98M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$325.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$320.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$165.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$340.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$32.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$43.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-8.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.00K	USD	1 Quarter
Non-cash interest expense (See Note 3)	`OtherNoncashExpense`	-	USD	1 Quarter
Non-cash interest expense (See Note 3)	`OtherNoncashExpense`	$6.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$146.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$142.00K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$47.00K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$253.00K	USD	1 Quarter
Decrease (increase) in deposits and prepaid assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$70.00K	USD	1 Quarter
Decrease (increase) in deposits and prepaid assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$71.00K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-32.00K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-154.00K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$114.00K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-66.00K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$16.00K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$237.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$537.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$647.00K	USD	1 Quarter
Capitalized software	`PaymentsToDevelopSoftware`	-	USD	1 Quarter
Capitalized software	`PaymentsToDevelopSoftware`	$290.00K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.00K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-292.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.00K	USD	1 Quarter
Proceeds from exercise of stock options, net of income taxes	`ProceedsFromStockOptionsExercised`	$160.00K	USD	1 Quarter
Proceeds from exercise of stock options, net of income taxes	`ProceedsFromStockOptionsExercised`	$26.00K	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$152.00K	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$145.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-119.00K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$520.00K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$236.00K	USD	1 Quarter
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$4.92M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.59M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.48M	USD	Point-in-time
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$46.00K	USD	1 Quarter
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$14.00K	USD	1 Quarter
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$4.92M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$5.34M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$5.59M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$5.48M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$37.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$12.00K	USD	1 Quarter
Stock-based compensation - capitalized software	`StockBasedCompensationCapitalizedSoftware`	$76.00K	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`	$325.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$320.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$6.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$43.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$363.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$331.00K	USD	1 Quarter

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