10-Q Filing

ACCESS Newswire Inc. CIK: 843006 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001654954-20-004723`
Period End Date	20200331
Filing Date	20200430
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	isdr-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 34 Cash Flow Statement 50 Stockholders Equity 17 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`	$700.00K	USD	Point-in-time
Accumulated amortization - capitalized software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$2.32M	USD	Point-in-time
Accumulated amortization - capitalized software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$2.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Accumulated depreciation - fixed assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$181.00K	USD	Point-in-time
Accumulated depreciation - fixed assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$213.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.20M	USD	Point-in-time
Accumulated amortization - intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$5.11M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $534 and $700, respectively)	`AccountsReceivableNet`	$2.17M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $534 and $700, respectively)	`AccountsReceivableNet`	$2.05M	USD	Point-in-time
Accumulated amortization - intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$4.94M	USD	Point-in-time
Long-term notes payable discount	`DebtInstrumentUnamortizedDiscountNoncurrent`	$13.00K	USD	Point-in-time
Long-term notes payable discount	`DebtInstrumentUnamortizedDiscountNoncurrent`	$19.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$48.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$241.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$141.00K	USD	Point-in-time
Preferred stock shares, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.01M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.61M	USD	Point-in-time
Preferred stock shares, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Capitalized software (net of accumulated amortization of $2,323 and $2,153, respectively)	`CapitalizedComputerSoftwareNet`	$1.13M	USD	Point-in-time
Preferred stock shares, authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Capitalized software (net of accumulated amortization of $2,323 and $2,153, respectively)	`CapitalizedComputerSoftwareNet`	$964.00K	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
Fixed assets (net of accumulated amortization of $213 and $181, respectively)	`PropertyPlantAndEquipmentNet`	$899.00K	USD	Point-in-time
Preferred stock shares, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Fixed assets (net of accumulated amortization of $213 and $181, respectively)	`PropertyPlantAndEquipmentNet`	$867.00K	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
Right-of-use asset - leases	`OperatingLeaseRightOfUseAsset`	$2.13M	USD	Point-in-time
Right-of-use asset - leases	`OperatingLeaseRightOfUseAsset`	$2.05M	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$256.00K	USD	Point-in-time
Common stock shares, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$294.00K	USD	Point-in-time
Common stock shares, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$77.00K	USD	Point-in-time
Common stock shares, authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$67.00K	USD	Point-in-time
Common stock shares, authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	3.77M	shares	Point-in-time
Goodwill	`Goodwill`	$6.38M	USD	Point-in-time
Goodwill	`Goodwill`	$6.38M	USD	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	3.79M	shares	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	3.77M	shares	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	3.79M	shares	Point-in-time
Intangible assets (net of accumulated amortization of $5,109 and $4,937, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$3.52M	USD	Point-in-time
Intangible assets (net of accumulated amortization of $5,109 and $4,937, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$3.34M	USD	Point-in-time
Total assets	`Assets`	$32.39M	USD	Point-in-time
Total assets	`Assets`	$32.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$383.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$266.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.15M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.06M	USD	Point-in-time
Note payable short-term (net of discount of $13 and $19, respectively)	`NotesPayableCurrent`	$301.00K	USD	Point-in-time
Note payable short-term (net of discount of $13 and $19, respectively)	`NotesPayableCurrent`	$307.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$310.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$374.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.88M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.84M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$137.00K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$141.00K	USD	Point-in-time
Lease liabilities - long term	`OperatingLeaseLiabilityNoncurrent`	$2.23M	USD	Point-in-time
Lease liabilities - long term	`OperatingLeaseLiabilityNoncurrent`	$2.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.29M	USD	Point-in-time
Preferred stock, $0.001 par value, 1,000,000 shares authorized, no shares issued and outstanding as of March 31, 2020 and December 31, 2019, 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, 2020 and December 31, 2019, respectively.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,772,700 and 3,786,398 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively.	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,772,700 and 3,786,398 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively.	`CommonStockValue`	$4.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.27M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.12M	USD	Point-in-time
Other accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.00K	USD	Point-in-time
Other accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$24.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.84M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.06M	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`	$26.21M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.10M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$32.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$32.39M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$4.02M	USD	1 Quarter
Revenues	`Revenues`	$4.18M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.30M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.88M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.76M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.36M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.22M	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$896.00K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$820.00K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$337.00K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$194.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$212.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$209.00K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$2.73M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$2.52M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$248.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$147.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$58.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$71.00K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$218.00K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$306.00K	USD	1 Quarter
Income tax expense	`CurrentIncomeTaxExpenseBenefit`	$13.00K	USD	1 Quarter
Income tax expense	`CurrentIncomeTaxExpenseBenefit`	$80.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$226.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$205.00K	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.05	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`	3,788.00	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted (in thousands)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3,869.00	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted (in thousands)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3,824.00	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$226.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$205.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$412.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$374.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$224.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$93.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-42.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$6.00K	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	$7.00K	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	$6.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$137.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$45.00K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$219.00K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$869.00K	USD	1 Quarter
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-32.00K	USD	1 Quarter
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$273.00K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$254.00K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$118.00K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-105.00K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$218.00K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$74.00K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$215.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$602.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$536.00K	USD	1 Quarter
Purchase of VisualWebcaster Platform	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Purchase of VisualWebcaster Platform	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$2.79M	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.79M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Payment for stock repurchase and retirement	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Payment for stock repurchase and retirement	`PaymentsForRepurchaseOfCommonStock`	$203.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-203.00K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$399.00K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.26M	USD	1 Quarter
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$15.77M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$17.22M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$16.20M	USD	Point-in-time
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$32.00K	USD	1 Quarter
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$-3.00K	USD	1 Quarter
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$14.96M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$15.77M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$17.22M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$16.20M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$10.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$37.00K	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 17 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`	$26.21M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$26.10M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$137.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$45.00K	USD	1 Quarter
Exercise of stock awards, net of tax, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	1 Quarter
Exercise of stock awards, net of tax, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	1 Quarter
Stock repurchase and retirement, amount	`StockRepurchasedAndRetiredDuringPeriodValue`	$-203.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-3.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$40.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$226.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$205.00K	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`	$26.21M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$26.10M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$226.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$205.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-3.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$40.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$202.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$266.00K	USD	1 Quarter

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