10-K Filing

ACCESS Newswire Inc. CIK: 843006 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001654954-22-002481`
Period End Date	20211231
Filing Date	20220303
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	isdr_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 36 Cash Flow Statement 52 Stockholders Equity 16 Comprehensive Income 6

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$675.00K	USD	Point-in-time
Allowance for accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$657.00K	USD	Point-in-time
Accumulated amortization - capitalized software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$3.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.85M	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`	$19.56M	USD	Point-in-time
Accumulated depreciation - fixed assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$312.00K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $675 and $657, respectively)	`AccountsReceivableNet`	$3.29M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $675 and $657, respectively)	`AccountsReceivableNet`	$2.51M	USD	Point-in-time
Accumulated depreciation - fixed assets	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$456.00K	USD	Point-in-time
Accumulated amortization - intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$5.55M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$750.00K	USD	Point-in-time
Accumulated amortization - intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$6.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$298.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.89M	USD	Point-in-time
Capitalized software (net of accumulated amortization of $3,301 and $2,761, respectively)	`CapitalizedComputerSoftwareNet`	$201.00K	USD	Point-in-time
Preferred stock shares, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Capitalized software (net of accumulated amortization of $3,301 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, authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Fixed assets (net of accumulated depreciation of $456 and $312, respectively)	`PropertyPlantAndEquipmentNet`	$713.00K	USD	Point-in-time
Preferred stock shares, authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Fixed assets (net of accumulated depreciation of $456 and $312, respectively)	`PropertyPlantAndEquipmentNet`	$795.00K	USD	Point-in-time
Right-of-use asset - leases (See Note 8)	`OperatingLeaseRightOfUseAsset`	$1.83M	USD	Point-in-time
Preferred stock shares, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Right-of-use asset - leases (See Note 8)	`OperatingLeaseRightOfUseAsset`	$1.53M	USD	Point-in-time
Preferred stock shares, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$94.00K	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`	$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
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, authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Intangible assets (net of accumulated amortization of $6,005 and $5,546, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$2.45M	USD	Point-in-time
Intangible assets (net of accumulated amortization of $6,005 and $5,546, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$2.91M	USD	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	3.79M	shares	Point-in-time
Total assets	`Assets`	$39.26M	USD	Point-in-time
Common stock shares, issued	`CommonStockSharesIssued`	3.77M	shares	Point-in-time
Total assets	`Assets`	$34.89M	USD	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
Accounts payable	`AccountsPayableCurrent`	$304.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$695.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.80M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.98M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$258.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$46.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.21M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$3.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.80M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$197.00K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$176.00K	USD	Point-in-time
Lease liabilities - long-term (See Note 8)	`OperatingLeaseLiabilityNoncurrent`	$1.97M	USD	Point-in-time
Lease liabilities - long-term (See Note 8)	`OperatingLeaseLiabilityNoncurrent`	$1.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.64M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.75M	USD	Point-in-time
Preferred stock, $0.001 par value, 1,000,000 shares authorized, no shares issued and outstanding as of December 31, 2021 and 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 December 31, 2021 and 2020, respectively.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,793,538 and 3,770,752 shares issued and outstanding as of December 31, 2021 and 2020, respectively.	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,793,538 and 3,770,752 shares issued and outstanding as of December 31, 2021 and 2020, respectively.	`CommonStockValue`	$4.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.21M	USD	Point-in-time
Other accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.00K	USD	Point-in-time
Other accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.23M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$31.62M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$28.14M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.10M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$34.89M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$39.26M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$18.53M	USD	Annual
Revenues	`Revenues`	$21.88M	USD	Annual
Cost of revenues	`CostOfRevenue`	$5.42M	USD	Annual
Cost of revenues	`CostOfRevenue`	$5.75M	USD	Annual
Gross margin	`GrossProfit`	$16.14M	USD	Annual
Gross margin	`GrossProfit`	$13.11M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.49M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.03M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$5.08M	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`	$751.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$603.00K	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$10.42M	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$12.39M	USD	Annual
Operating income	`OperatingIncomeLoss`	$2.69M	USD	Annual
Operating income	`OperatingIncomeLoss`	$3.74M	USD	Annual
Other income (See Note 2)	`OtherOperatingIncomeExpenseNet`	$366.00K	USD	Annual
Other income (See Note 2)	`OtherOperatingIncomeExpenseNet`	$80.00K	USD	Annual
Interest income, net	`InvestmentIncomeInterest`	$3.00K	USD	Annual
Interest income, net	`InvestmentIncomeInterest`	$56.00K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.83M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.11M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$724.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$821.00K	USD	Annual
Net income	`NetIncomeLoss`	$2.11M	USD	Annual
Net income	`NetIncomeLoss`	$3.29M	USD	Annual
Income per share - basic	`EarningsPerShareBasic`	$0.87	USD	Annual
Income per share - basic	`EarningsPerShareBasic`	$0.56	USD	Annual
Income per share - diluted	`EarningsPerShareDiluted`	$0.56	USD	Annual
Income per share - diluted	`EarningsPerShareDiluted`	$0.86	USD	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.78M	shares	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.75M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.82M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.78M	shares	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.11M	USD	Annual
Net income	`NetIncomeLoss`	$3.29M	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$257.00K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$304.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.14M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.35M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$312.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-106.00K	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	-	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	$19.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$273.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$333.00K	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`	$-1.04M	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-160.00K	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$177.00K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$37.00K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$393.00K	USD	Annual
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$887.00K	USD	Annual
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$391.00K	USD	Annual
Increase (decrease) in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-265.00K	USD	Annual
Increase (decrease) in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$260.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.73M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.39M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$62.00K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.00K	USD	Annual
Capitalized software	`CapitalizedSoftware`	$-215.00K	USD	Annual
Capitalized software	`CapitalizedSoftware`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-277.00K	USD	Annual
Payment for stock repurchase and retirement (see Note 7)	`PaymentsForRepurchaseOfCommonStock`	$453.00K	USD	Annual
Payment for stock repurchase and retirement (see Note 7)	`PaymentsForRepurchaseOfCommonStock`	$785.00K	USD	Annual
Payment on notes payable	`RepaymentsOfNotesPayable`	$240.00K	USD	Annual
Payment on notes payable	`RepaymentsOfNotesPayable`	-	USD	Annual
Proceeds from exercise of stock options, net of income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$451.00K	USD	Annual
Proceeds from exercise of stock options, net of income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$307.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-574.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-146.00K	USD	Annual
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$3.79M	USD	Annual
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$4.31M	USD	Annual
Cash- beginning	`CashAndCashEquivalentsAtCarryingValue`	$23.85M	USD	Point-in-time
Cash- beginning	`CashAndCashEquivalentsAtCarryingValue`	$15.77M	USD	Point-in-time
Cash- beginning	`CashAndCashEquivalentsAtCarryingValue`	$19.56M	USD	Point-in-time
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$5.00K	USD	Annual
Currency translation adjustment	`EffectOfExchangeRateOnCash`	$-12.00K	USD	Annual
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$23.85M	USD	Point-in-time
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 paid for income taxes	`IncomeTaxesPaid`	$458.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$1.05M	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$31.62M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$28.14M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$26.10M	USD	Point-in-time
Stock-based compensation expense	`StockBasedCompensationExpense`	$273.00K	USD	Annual
Stock-based compensation expense	`StockBasedCompensationExpense`	$333.00K	USD	Annual
Exercise of stock awards, net of tax, amount	`ExerciseOfStockAwardsNetOfTaxAmount`	$451.00K	USD	Annual
Exercise of stock awards, net of tax, amount	`ExerciseOfStockAwardsNetOfTaxAmount`	$307.00K	USD	Annual
Stock repurchase and retirement (see Note 6), shares	`StockRepurchasedAndRetiredDuringPeriodShares`	179,845.00	shares	Annual
Stock repurchase and retirement (see Note 6), amount	`StockRepurchasedAndRetiredDuringPeriodValue`	$-453.00K	USD	Annual
Stock repurchase and retirement (see Note 6), amount	`StockRepurchasedAndRetiredDuringPeriodValue`	$-785.00K	USD	Annual
Foreign currency translation	`ForeignCurrencyTranslation`	$-3.00K	USD	Annual
Net income	`NetIncomeLoss`	$2.11M	USD	Annual
Net income	`NetIncomeLoss`	$3.29M	USD	Annual
Balance, amount	`StockholdersEquity`	$31.62M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$28.14M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$26.10M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.11M	USD	Annual
Net income	`NetIncomeLoss`	$3.29M	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-3.00K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.29M	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.