10-Q Filing

ACCESS Newswire Inc. CIK: 843006 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001654954-21-005233`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	isdr_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 34 Cash Flow Statement 48 Stockholders Equity 19 Comprehensive Income 6

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$657.00K	USD	Point-in-time
Allowance for accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$651.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.56M	USD	Point-in-time
Accumulated amortization - capitalized software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$2.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.55M	USD	Point-in-time
Accumulated amortization - capitalized software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$2.76M	USD	Point-in-time
Accumulated depreciation - fixed assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$312.00K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $651 and $657, respectively)	`AccountsReceivableNet`	$2.51M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $651 and $657, respectively)	`AccountsReceivableNet`	$2.97M	USD	Point-in-time
Accumulated depreciation - fixed assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$348.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$298.00K	USD	Point-in-time
Accumulated amortization - intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$5.66M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$383.00K	USD	Point-in-time
Accumulated amortization - intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$5.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.90M	USD	Point-in-time
Capitalized software (net of accumulated amortization of $2,893 and $2,761, 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 $2,893 and $2,761, respectively)	`CapitalizedComputerSoftwareNet`	$394.00K	USD	Point-in-time
Fixed assets (net of accumulated amortization of $348 and $312, 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
Fixed assets (net of accumulated amortization of $348 and $312, respectively)	`PropertyPlantAndEquipmentNet`	$775.00K	USD	Point-in-time
Right-of-use asset - leases	`OperatingLeaseRightOfUseAsset`	$1.76M	USD	Point-in-time
Preferred stock shares, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Right-of-use asset - leases	`OperatingLeaseRightOfUseAsset`	$1.83M	USD	Point-in-time
Preferred stock shares, issued	`PreferredStockSharesIssued`	0.00	shares	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`	$93.00K	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
Goodwill	`Goodwill`	$6.38M	USD	Point-in-time
Goodwill	`Goodwill`	$6.38M	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 $5,663 and $5,546, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$2.91M	USD	Point-in-time
Common stock shares, authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Intangible assets (net of accumulated amortization of $5,663 and $5,546, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$2.79M	USD	Point-in-time
Total assets	`Assets`	$34.89M	USD	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	3.77M	shares	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	3.77M	shares	Point-in-time
Total assets	`Assets`	$36.08M	USD	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	3.77M	shares	Point-in-time
Common stock shares, outstanding	`CommonStockSharesOutstanding`	3.77M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$304.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$589.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.10M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.80M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$358.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$258.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.21M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.38M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.43M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.58M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$197.00K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$262.00K	USD	Point-in-time
Lease liabilities - long-term	`OperatingLeaseLiabilityNoncurrent`	$1.89M	USD	Point-in-time
Lease liabilities - long-term	`OperatingLeaseLiabilityNoncurrent`	$1.97M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.75M	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, 2021 and December 31, 2020, 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, 2021 and December 31, 2020, respectively.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,765,975 and 3,770,752 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively.	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,765,975 and 3,770,752 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively.	`CommonStockValue`	$4.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.02M	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`	$6.49M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.21M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$28.14M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$28.50M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$36.08M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$34.89M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$4.02M	USD	1 Quarter
Revenues	`Revenues`	$4.98M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.25M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.39M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.76M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.59M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.22M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.40M	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$1.07M	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$896.00K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$249.00K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$194.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$209.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$152.00K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$2.88M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$2.52M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$707.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$248.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$1.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$58.00K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$306.00K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$708.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$80.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$163.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$226.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$545.00K	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.15	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3,788.00	shares	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3,769.00	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3,817.00	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3,824.00	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$226.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$545.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$374.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$285.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$93.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$28.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-42.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-15.00K	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	$6.00K	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	-	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$45.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$63.00K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-484.00K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-219.00K	USD	1 Quarter
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-16.00K	USD	1 Quarter
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$32.00K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$287.00K	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`	$398.00K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$178.00K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$74.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$602.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.27M	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.00K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-16.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$199.00K	USD	1 Quarter
Payment for stock repurchase and retirement	`PaymentsForRepurchaseOfCommonStock`	$452.00K	USD	1 Quarter
Payment for stock repurchase and retirement	`PaymentsForRepurchaseOfCommonStock`	$203.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-253.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-203.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.00M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$399.00K	USD	1 Quarter
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$15.77M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$19.56M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$16.20M	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$20.55M	USD	Point-in-time
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$-8.00K	USD	1 Quarter
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$32.00K	USD	1 Quarter
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$15.77M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$19.56M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$16.20M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$20.55M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$10.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$26.10M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$26.21M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$28.14M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$28.50M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$63.00K	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`	$199.00K	USD	1 Quarter
Stock repurchase and retirement, shares	`StockRepurchasedAndRetiredDuringPeriodShares`	179,845.00	shares	1 Quarter
Stock repurchase and retirement, amount	`StockRepurchasedAndRetiredDuringPeriodValue`	$-203.00K	USD	1 Quarter
Stock repurchase and retirement, amount	`StockRepurchasedAndRetiredDuringPeriodValue`	$-452.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$40.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$3.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$226.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$545.00K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$26.10M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$26.21M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$28.14M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$28.50M	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`	$545.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$40.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$3.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$266.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$548.00K	USD	1 Quarter

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