10-K Filing

ACCESS Newswire Inc. CIK: 843006 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001654954-21-002389`
Period End Date	20201231
Filing Date	20210304
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	isdr-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 89 Income Statement 36 Cash Flow Statement 56 Stockholders Equity 16 Comprehensive Income 6

Balance Sheet 89 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$657.00K	USD	Point-in-time
Allowance for accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$700.00K	USD	Point-in-time
Allowance for accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$534.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.56M	USD	Point-in-time
Accumulated amortization - capitalized software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$2.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.77M	USD	Point-in-time
Accumulated amortization - capitalized software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$2.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.22M	USD	Point-in-time
Accumulated depreciation - fixed assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$312.00K	USD	Point-in-time
Accumulated depreciation - fixed assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$181.00K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $657 and $700, respectively)	`AccountsReceivableNet`	$2.51M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $657 and $700, respectively)	`AccountsReceivableNet`	$2.05M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$48.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Accumulated amortization - intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$4.94M	USD	Point-in-time
Accumulated amortization - intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$5.55M	USD	Point-in-time
Short-term notes payable discount	`DebtInstrumentUnamortizedDiscountCurrent`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$141.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$298.00K	USD	Point-in-time
Short-term notes payable discount	`DebtInstrumentUnamortizedDiscountCurrent`	$19.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.01M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.37M	USD	Point-in-time
Capitalized software (net of accumulated amortization of $2,761 and $2,153, respectively)	`CapitalizedComputerSoftwareNet`	$526.00K	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
Capitalized software (net of accumulated amortization of $2,761 and $2,153, respectively)	`CapitalizedComputerSoftwareNet`	$1.13M	USD	Point-in-time
Fixed assets (net of accumulated depreciation of $312 and $181, respectively)	`PropertyPlantAndEquipmentNet`	$899.00K	USD	Point-in-time
Fixed assets (net of accumulated depreciation of $312 and $181, respectively)	`PropertyPlantAndEquipmentNet`	$795.00K	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
Preferred stock shares, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock shares, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Right-of-use asset - leases (See Note 9)	`OperatingLeaseRightOfUseAsset`	$2.13M	USD	Point-in-time
Right-of-use asset - leases (See Note 9)	`OperatingLeaseRightOfUseAsset`	$1.83M	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$256.00K	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
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	-	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$88.00K	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
Other long-term assets	`OtherAssetsNoncurrent`	$77.00K	USD	Point-in-time
Common stock shares, authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Goodwill	`Goodwill`	$6.38M	USD	Point-in-time
Goodwill	`Goodwill`	$6.38M	USD	Point-in-time
Common stock shares, authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	3.79M	shares	Point-in-time
Intangible assets (net of accumulated amortization of $5,546 and $4,937, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$2.91M	USD	Point-in-time
Intangible assets (net of accumulated amortization of $5,546 and $4,937, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$3.52M	USD	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	3.77M	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
Total assets	`Assets`	$34.89M	USD	Point-in-time
Total assets	`Assets`	$32.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$304.00K	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`	$1.80M	USD	Point-in-time
Note payable - short-term (net of discount of $0 and $19, respectively) (See Note 4)	`NotesPayableCurrent`	$301.00K	USD	Point-in-time
Note payable - short-term (net of discount of $0 and $19, respectively) (See Note 4)	`NotesPayableCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$310.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$258.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.81M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.21M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.84M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$141.00K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$197.00K	USD	Point-in-time
Lease liabilities - long-term (see Note 9)	`OperatingLeaseLiabilityNoncurrent`	$2.31M	USD	Point-in-time
Lease liabilities - long-term (see Note 9)	`OperatingLeaseLiabilityNoncurrent`	$1.97M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.29M	USD	Point-in-time
Commitments and contingencies (see Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 1,000,000 shares authorized, no shares issued and outstanding as of December 31, 2020 and 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 December 31, 2020 and 2019, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,770,752 and 3,786,398 shares issued and outstanding as of December 31, 2020 and 2019, respectively	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,770,752 and 3,786,398 shares issued and outstanding as of December 31, 2020 and 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`	$22.21M	USD	Point-in-time
Other accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.00K	USD	Point-in-time
Other accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.94M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.84M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$28.14M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$32.39M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$34.89M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$16.30M	USD	Annual
Revenues	`Revenues`	$18.53M	USD	Annual
Cost of services	`CostOfRevenue`	$5.08M	USD	Annual
Cost of services	`CostOfRevenue`	$5.42M	USD	Annual
Gross profit	`GrossProfit`	$11.21M	USD	Annual
Gross profit	`GrossProfit`	$13.11M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.09M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.03M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$3.55M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$3.81M	USD	Annual
Product development	`ResearchAndDevelopmentExpense`	$1.22M	USD	Annual
Product development	`ResearchAndDevelopmentExpense`	$825.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$885.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$751.00K	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$10.42M	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$10.74M	USD	Annual
Operating income	`OperatingIncomeLoss`	$2.69M	USD	Annual
Operating income	`OperatingIncomeLoss`	$474.00K	USD	Annual
Gain on extinguishment of debt (See Note 2)	`GainsLossesOnExtinguishmentOfDebt`	$80.00K	USD	Annual
Gain on extinguishment of debt (See Note 2)	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Interest income, net	`InterestIncomeExpenseNet`	$56.00K	USD	Annual
Interest income, net	`InterestIncomeExpenseNet`	$321.00K	USD	Annual
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$2.83M	USD	Annual
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$795.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$109.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$724.00K	USD	Annual
Net income	`NetIncomeLoss`	$686.00K	USD	Annual
Net income	`NetIncomeLoss`	$2.11M	USD	Annual
Income per share - basic	`EarningsPerShareBasic`	$0.56	USD	Annual
Income per share - basic	`EarningsPerShareBasic`	$0.18	USD	Annual
Income per share - diluted	`EarningsPerShareDiluted`	$0.56	USD	Annual
Income per share - diluted	`EarningsPerShareDiluted`	$0.18	USD	Annual
Weighted average number of common shares outstanding - basic (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	3,839.00	shares	Annual
Weighted average number of common shares outstanding - basic (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	3,755.00	shares	Annual
Weighted average number of common shares outstanding - fully diluted (in thousands)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3,861.00	shares	Annual
Weighted average number of common shares outstanding - fully diluted (in thousands)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3,784.00	shares	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$686.00K	USD	Annual
Net income	`NetIncomeLoss`	$2.11M	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$304.00K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$753.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.67M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.35M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$312.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-528.00K	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	$19.00K	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	$25.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$273.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$523.00K	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$80.00K	USD	Annual
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$761.00K	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.21M	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-177.00K	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-362.00K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$37.00K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-117.00K	USD	Annual
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$391.00K	USD	Annual
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$559.00K	USD	Annual
Increase (decrease) in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$260.00K	USD	Annual
Increase (decrease) in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$144.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.39M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.86M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$420.00K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.00K	USD	Annual
Purchase of acquired businesses (See Note 4)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$2.79M	USD	Annual
Purchase of acquired businesses (See Note 4)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Capitalized software	`PaymentsToDevelopSoftware`	$20.00K	USD	Annual
Capitalized software	`PaymentsToDevelopSoftware`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.23M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.00K	USD	Annual
Payment for stock repurchase and retirement (see Note 7)	`PaymentsForRepurchaseOfCommonStock`	$773.00K	USD	Annual
Payment for stock repurchase and retirement (see Note 7)	`PaymentsForRepurchaseOfCommonStock`	$785.00K	USD	Annual
Payment on notes payable	`RepaymentsOfNotesPayable`	$320.00K	USD	Annual
Payment on notes payable	`RepaymentsOfNotesPayable`	$240.00K	USD	Annual
Proceeds from exercise of stock options, net of income taxes	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Proceeds from exercise of stock options, net of income taxes	`ProceedsFromStockOptionsExercised`	$451.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-574.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.09M	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.79M	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.46M	USD	Annual
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$19.56M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$15.77M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$17.22M	USD	Point-in-time
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$1.00K	USD	Annual
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$5.00K	USD	Annual
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$19.56M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$15.77M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$17.22M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$458.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$340.00K	USD	Annual
Right-of-use assets obtained in exchange for lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	Annual
Right-of-use assets obtained in exchange for lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$2.86M	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$25.66M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$26.10M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$28.14M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$523.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$273.00K	USD	Annual
Exercise of stock awards, net of tax, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$451.00K	USD	Annual
Exercise of stock awards, net of tax, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Stock repurchase and retirement (see Note 7), amount	`StockRepurchasedAndRetiredDuringPeriodValue`	$-773.00K	USD	Annual
Stock repurchase and retirement (see Note 7), amount	`StockRepurchasedAndRetiredDuringPeriodValue`	$-785.00K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-3.00K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.00K	USD	Annual
Net income	`NetIncomeLoss`	$686.00K	USD	Annual
Net income	`NetIncomeLoss`	$2.11M	USD	Annual
Ending balance, amount	`StockholdersEquity`	$25.66M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$26.10M	USD	Point-in-time
Ending balance, amount	`StockholdersEquity`	$28.14M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$686.00K	USD	Annual
Net income	`NetIncomeLoss`	$2.11M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-3.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.00K	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$687.00K	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.10M	USD	Annual

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