10-Q Filing

ACCESS Newswire Inc. CIK: 843006 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001654954-19-005205`
Period End Date	20190331
Filing Date	20190502
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	isdr-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 34 Cash Flow Statement 52 Stockholders Equity 16 Comprehensive Income 6

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$534.00K	USD	Point-in-time
Allowance for accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$731.00K	USD	Point-in-time
Accumulated amortization - capitalized software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$1.51M	USD	Point-in-time
Accumulated amortization - capitalized software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$1.31M	USD	Point-in-time
Accumulated depreciation - fixed assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$468.00K	USD	Point-in-time
Accumulated depreciation - fixed assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$452.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.22M	USD	Point-in-time
Accumulated amortization - intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$4.22M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $731 and $534, respectively)	`AccountsReceivableNet`	$1.59M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $731 and $534, respectively)	`AccountsReceivableNet`	$2.24M	USD	Point-in-time
Accumulated amortization - intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$4.41M	USD	Point-in-time
Long-term notes payable discount	`DebtInstrumentUnamortizedDiscountNoncurrent`	$45.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$90.00K	USD	Point-in-time
Long-term notes payable discount	`DebtInstrumentUnamortizedDiscountNoncurrent`	$38.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$122.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$238.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$89.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.99M	USD	Point-in-time
Preferred stock shares, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.56M	USD	Point-in-time
Preferred stock shares, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock shares, authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock shares, authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Capitalized software (net of accumulated amortization of $1,514 and $1,310, respectively)	`CapitalizedComputerSoftwareNet`	$1.96M	USD	Point-in-time
Capitalized software (net of accumulated amortization of $1,514 and $1,310, respectively)	`CapitalizedComputerSoftwareNet`	$1.75M	USD	Point-in-time
Fixed assets (net of accumulated amortization of $468 and $452, respectively)	`PropertyPlantAndEquipmentNet`	$132.00K	USD	Point-in-time
Fixed assets (net of accumulated amortization of $468 and $452, respectively)	`PropertyPlantAndEquipmentNet`	$122.00K	USD	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
Other long-term assets	`OtherAssetsNoncurrent`	$35.00K	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
Other long-term assets	`OtherAssetsNoncurrent`	$264.00K	USD	Point-in-time
Goodwill	`Goodwill`	$6.05M	USD	Point-in-time
Common stock shares, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Goodwill	`Goodwill`	$5.03M	USD	Point-in-time
Common stock shares, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock shares, authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Intangible assets (net of accumulated amortization of $4,410 and $4,219, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$4.37M	USD	Point-in-time
Intangible assets (net of accumulated amortization of $4,410 and $4,219, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$2.80M	USD	Point-in-time
Common stock shares, authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Total assets	`Assets`	$30.11M	USD	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	3.83M	shares	Point-in-time
Total assets	`Assets`	$28.95M	USD	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	3.85M	shares	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	3.85M	shares	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	3.83M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$625.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$371.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$577.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$889.00K	USD	Point-in-time
Current portion of note payable	`NotesPayableCurrent`	$320.00K	USD	Point-in-time
Current portion of note payable	`NotesPayableCurrent`	$320.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$40.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$83.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.46M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.34M	USD	Point-in-time
Note payable - long-term (net of discount of $38 and $45, respectively)	`LongTermNotesPayable`	$282.00K	USD	Point-in-time
Note payable - long-term (net of discount of $38 and $45, respectively)	`LongTermNotesPayable`	$276.00K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$419.00K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$413.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$74.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.29M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.11M	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, 2019 and December 31, 2018, 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, 2019 and December 31, 2018, respectively.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,854,568 and 3,829,572 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively.	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,854,568 and 3,829,572 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively.	`CommonStockValue`	$4.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.66M	USD	Point-in-time
Other accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-17.00K	USD	Point-in-time
Other accumulated comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-20.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.36M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.15M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.66M	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`	$30.11M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$28.95M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$4.18M	USD	1 Quarter
Revenues	`Revenues`	$3.53M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.30M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.02M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.51M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.88M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.36M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.00M	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$820.00K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$750.00K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$298.00K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$337.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$212.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$142.00K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$2.73M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$2.19M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$315.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$147.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$71.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-5.00K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$218.00K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$310.00K	USD	1 Quarter
Income tax (benefit) expense	`CurrentIncomeTaxExpenseBenefit`	$13.00K	USD	1 Quarter
Income tax (benefit) expense	`CurrentIncomeTaxExpenseBenefit`	$-10.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$205.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$320.00K	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Weighted average number of common shares outstanding - basic (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	3,850.00	shares	1 Quarter
Weighted average number of common shares outstanding - basic (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	3,036.00	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted (in thousands)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3,111.00	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted (in thousands)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3,869.00	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$205.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$320.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$412.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$340.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$43.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$224.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$6.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-8.00K	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	$6.00K	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	$7.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$142.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$137.00K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$253.00K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$869.00K	USD	1 Quarter
Decrease (increase) in deposits and prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$273.00K	USD	1 Quarter
Decrease (increase) in deposits and prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$70.00K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-154.00K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$254.00K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-66.00K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$218.00K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$215.00K	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`	$536.00K	USD	1 Quarter
Purchase of VisualWebcaster Platform	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$2.79M	USD	1 Quarter
Purchase of VisualWebcaster Platform	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.00K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.79M	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`	-	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$152.00K	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.26M	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$520.00K	USD	1 Quarter
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$4.92M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.48M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$17.22M	USD	Point-in-time
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$46.00K	USD	1 Quarter
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$-3.00K	USD	1 Quarter
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$4.92M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$5.48M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$17.22M	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
Right-of-use assets obtained in exchange for lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$260.00K	USD	1 Quarter
Right-of-use assets obtained in exchange for lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$26.00M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$25.66M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$13.21M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$13.72M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$142.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$137.00K	USD	1 Quarter
Exercise of stock awards, net of tax, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$161.00K	USD	1 Quarter
Foreign currency translation	`FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments`	$-3.00K	USD	1 Quarter
Foreign currency translation	`FiniteLivedIntangibleAssetsTranslationAndPurchaseAccountingAdjustments`	$43.00K	USD	1 Quarter
Dividends	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$-152.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$205.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$320.00K	USD	1 Quarter
Ending balance, amount	`StockholdersEquity`	$26.00M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$25.66M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$13.21M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$13.72M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$205.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$320.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-3.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$43.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$363.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$202.00K	USD	1 Quarter

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