10-Q Filing

ACCESS Newswire Inc. CIK: 843006 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001654954-23-006241`
Period End Date	20230331
Filing Date	20230511
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	isdr_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 36 Cash Flow Statement 56 Stockholders Equity 16 Comprehensive Income 6

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Debt discount	`DebtInstrumentUnamortizedDiscount`	-	USD	Point-in-time
Debt discount	`DebtInstrumentUnamortizedDiscount`	$80.00K	USD	Point-in-time
Allowance For Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$745.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.83M	USD	Point-in-time
Allowance For Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$858.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.35M	USD	Point-in-time
Accumulated depreciation	`FlightEquipmentAccumulatedDepreciation`	$610.00K	USD	Point-in-time
Accumulated depreciation	`FlightEquipmentAccumulatedDepreciation`	$646.00K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $858 and $745, respectively)	`AccountsReceivableNet`	$2.98M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $858 and $745, respectively)	`AccountsReceivableNet`	$3.55M	USD	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$51.00K	USD	Point-in-time
Accumulated Amortization - Capitalized Software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$3.36M	USD	Point-in-time
Income tax receivable	`IncomeTaxReceivable`	$139.00K	USD	Point-in-time
Accumulated Amortization - Capitalized Software	`CapitalizedComputerSoftwareAccumulatedAmortization`	$3.38M	USD	Point-in-time
Accumulated Amortization - Intangible Assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$7.51M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.56M	USD	Point-in-time
Accumulated Amortization - Intangible Assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$6.82M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.42M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.42M	USD	Point-in-time
Preferred Stock Shares, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.45M	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
Capitalized software (net of accumulated amortization of $3,379 and $3,364, respectively)	`CapitalizedComputerSoftwareNet`	$123.00K	USD	Point-in-time
Capitalized software (net of accumulated amortization of $3,379 and $3,364, respectively)	`CapitalizedComputerSoftwareNet`	$138.00K	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
Preferred Stock Shares, Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Fixed assets (net of accumulated depreciation of $646 and $610, respectively)	`PropertyPlantAndEquipmentNet`	$594.00K	USD	Point-in-time
Fixed assets (net of accumulated depreciation of $646 and $610, respectively)	`PropertyPlantAndEquipmentNet`	$625.00K	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`	$1.21M	USD	Point-in-time
Right-of-use asset - leases	`OperatingLeaseRightOfUseAsset`	$1.28M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$136.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$176.00K	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	`GoodwillGross`	$22.50M	USD	Point-in-time
Goodwill	`GoodwillGross`	$22.50M	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 $7,507 and $6,821, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$32.23M	USD	Point-in-time
Common Stock Shares, Issued	`CommonStockSharesIssued`	3.79M	shares	Point-in-time
Common Stock Shares, Issued	`CommonStockSharesIssued`	3.79M	shares	Point-in-time
Intangible assets (net of accumulated amortization of $7,507 and $6,821, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$31.55M	USD	Point-in-time
Common Stock Shares, Outstanding	`CommonStockSharesOutstanding`	3.79M	shares	Point-in-time
Common Stock Shares, Outstanding	`CommonStockSharesOutstanding`	3.79M	shares	Point-in-time
Total assets	`Assets`	$66.33M	USD	Point-in-time
Total assets	`Assets`	$64.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.56M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.25M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.34M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$170.00K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$157.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$1.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$22.00M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.17M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$31.19M	USD	Point-in-time
Long-term debt (net of debt discount of $80 and $0, respectively)	`LongTermDebtNoncurrent`	$18.92M	USD	Point-in-time
Long-term debt (net of debt discount of $80 and $0, respectively)	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilityNoncurrent`	$599.00K	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilityNoncurrent`	$572.00K	USD	Point-in-time
Lease liabilities - long-term	`OperatingLeaseLiabilityNoncurrent`	$1.34M	USD	Point-in-time
Lease liabilities - long-term	`OperatingLeaseLiabilityNoncurrent`	$1.26M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$165.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$33.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$31.18M	USD	Point-in-time
Preferred stock, $0.001 par value, 1,000,000 shares authorized, no shares issued and outstanding as of March 31, 2023 and December 31, 2022, 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, 2023 and December 31, 2022, respectively.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,791,020 shares issued and outstanding as of March 31, 2023 and December 31, 2022.	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock $0.001 par value, 20,000,000 shares authorized, 3,791,020 shares issued and outstanding as of March 31, 2023 and December 31, 2022.	`CommonStockValue`	$4.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.15M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.48M	USD	Point-in-time
Other accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-95.00K	USD	Point-in-time
Other accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-96.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.17M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.02M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$32.20M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$31.62M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.22M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$33.42M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$66.33M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$64.60M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$8.62M	USD	1 Quarter
Revenues	`Revenues`	$5.29M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.83M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.23M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.79M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.06M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.68M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.33M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$1.26M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$2.38M	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$275.00K	USD	1 Quarter
Product development	`ResearchAndDevelopmentExpense`	$774.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$722.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$146.00K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$3.37M	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$6.21M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$581.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$688.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-238.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$2.00K	USD	1 Quarter
Other expense	`OtherExpenses`	$535.00K	USD	1 Quarter
Other expense	`OtherExpenses`	-	USD	1 Quarter
(Loss) income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-192.00K	USD	1 Quarter
(Loss) income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$690.00K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$174.00K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-48.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-144.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$516.00K	USD	1 Quarter
(Loss) income per share - basic	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
(Loss) income per share - basic	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
(Loss) income per share - fully diluted	`EarningsPerShareDiluted`	$0.13	USD	1 Quarter
(Loss) income per share - fully diluted	`EarningsPerShareDiluted`	$-0.04	USD	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.79M	shares	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.79M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.83M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.81M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$516.00K	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$-144.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$162.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$736.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$101.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$151.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$26.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-35.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$184.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$337.00K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$752.00K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$719.00K	USD	1 Quarter
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$55.00K	USD	1 Quarter
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$250.00K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$186.00K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$154.00K	USD	1 Quarter
Increase (decrease) in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-53.00K	USD	1 Quarter
Increase (decrease) in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$187.00K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-238.00K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$326.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$272.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$548.00K	USD	1 Quarter
Purchase of acquired business, net of cash received (See Note 3)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$-350.00K	USD	1 Quarter
Purchase of acquired business, net of cash received (See Note 3)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.00K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$345.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.00K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$58.00K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Payment for stock repurchase and retirement	`PaymentsForRepurchaseOfCommonStock`	$182.00K	USD	1 Quarter
Payment for stock repurchase and retirement	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Payment of note payable	`RepaymentsOfNotesPayable`	$22.00M	USD	1 Quarter
Payment of note payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Proceeds from issuance of term loan	`ProceedsFromIssuanceOfDebt`	$19.97M	USD	1 Quarter
Proceeds from issuance of term loan	`ProceedsFromIssuanceOfDebt`	-	USD	1 Quarter
Payments for capitalized debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$68.00K	USD	1 Quarter
Payments for capitalized debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-124.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.10M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.48M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$403.00K	USD	1 Quarter
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.35M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.27M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.85M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.83M	USD	Point-in-time
Currency translation adjustment	`EffectOfExchangeRatesOnCash`	-	USD	1 Quarter
Currency translation adjustment	`EffectOfExchangeRatesOnCash`	$16.00K	USD	1 Quarter
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.35M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.27M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.85M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.83M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$510.00K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$32.20M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$31.62M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$33.22M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$33.42M	USD	Point-in-time
Stock-based compensation expense	`StockBasedCompensationExpense`	$337.00K	USD	1 Quarter
Stock-based compensation expense	`StockBasedCompensationExpense`	$184.00K	USD	1 Quarter
Exercise of stock awards, net of tax, amount	`ExerciseOfStockAwardsNetOfTaxAmount`	$58.00K	USD	1 Quarter
Stock repurchase and retirement, amount	`StockRepurchasedAndRetiredDuringPeriodValue`	$-182.00K	USD	1 Quarter
Foreign currency translation	`ForeignCurrencyTranslation`	$1.00K	USD	1 Quarter
Foreign currency translation	`ForeignCurrencyTranslation`	$7.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-144.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$516.00K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$32.20M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$31.62M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$33.22M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$33.42M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-144.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$516.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$7.00K	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-143.00K	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$523.00K	USD	1 Quarter

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