Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash   $ 20,925
Accounts receivable - net, of allowance for doubtful accounts of $517 and $522 at March 31, 2021 and December 31, 2020, respectively   12,089
Contract asset   4,105
Inventory   399
Current assets - related party   13
Prepaid expenses and other current assets   7,288
Total current assets   44,819
Property and equipment - net   4,921
Operating lease right-of-use assets $ 7,075 7,743
Intangible assets - net   29,978
Goodwill   49,291
Other assets   1,247
TOTAL ASSETS   137,999
CURRENT LIABILITIES:    
Accounts payable   6,461
Accrued compensation   2,590
Accrued expenses   8,501
Operating lease liability (current portion) 4,236 4,729
Deferred revenue (current portion)   1,173
Accrued liability to related party   1
Deferred payroll taxes   927
Notes payable (current portion)   401
Dividend payable   4,241
Total current liabilities   29,024
Notes payable   41
Deferred payroll taxes   927
Operating lease liability 5,220 6,297
Deferred revenue   305
Deferred tax liability   160
Total liabilities   36,754
COMMITMENTS AND CONTINGENCIES (Note 8)  
SHAREHOLDERS' EQUITY:    
Preferred stock, $0.001 par value - authorized 7,000,000 shares at March 31, 2021 and December 31, 2020; issued and outstanding 5,502,961 and 5,475,279 shares at March 31, 2021 and December 31, 2020, respectively   5
Common stock, $0.001 par value - authorized 29,000,000 shares at March 31, 2021 and December 31, 2020; issued 15,140,589 and 14,121,044 shares at March 31, 2021 and December 31, 2020, respectively; 14,399,790 and 13,380,245 shares outstanding at March 31, 2021 and December 31, 2020, respectively   14
Additional paid-in capital   136,781
Accumulated deficit   (33,889)
Accumulated other comprehensive loss   (1,004)
Less: 740,799 common shares held in treasury, at cost at March 31, 2021 and December 31, 2020   (662)
Total shareholders' equity 103,513 101,245
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY   $ 137,999
Unaudited    
CURRENT ASSETS:    
Cash 20,995  
Accounts receivable - net, of allowance for doubtful accounts of $517 and $522 at March 31, 2021 and December 31, 2020, respectively 12,419  
Contract asset 4,375  
Inventory 379  
Current assets - related party 13  
Prepaid expenses and other current assets 7,067  
Total current assets 45,248  
Property and equipment - net 5,323  
Operating lease right-of-use assets 7,075  
Intangible assets - net 29,166  
Goodwill 49,291  
Other assets 1,323  
TOTAL ASSETS 137,426  
CURRENT LIABILITIES:    
Accounts payable 4,734  
Accrued compensation 2,040  
Accrued expenses 10,215  
Operating lease liability (current portion) 4,236  
Deferred revenue (current portion) 1,225  
Accrued liability to related party 1  
Deferred payroll taxes 927  
Notes payable (current portion) 167  
Dividend payable 3,777  
Total current liabilities 27,322  
Notes payable 35  
Deferred payroll taxes 927  
Operating lease liability 5,220  
Deferred revenue 285  
Deferred tax liability 124  
Total liabilities 33,913  
COMMITMENTS AND CONTINGENCIES (Note 8)  
SHAREHOLDERS' EQUITY:    
Preferred stock, $0.001 par value - authorized 7,000,000 shares at March 31, 2021 and December 31, 2020; issued and outstanding 5,502,961 and 5,475,279 shares at March 31, 2021 and December 31, 2020, respectively 6  
Common stock, $0.001 par value - authorized 29,000,000 shares at March 31, 2021 and December 31, 2020; issued 15,140,589 and 14,121,044 shares at March 31, 2021 and December 31, 2020, respectively; 14,399,790 and 13,380,245 shares outstanding at March 31, 2021 and December 31, 2020, respectively 15  
Additional paid-in capital 140,666  
Accumulated deficit (35,853)  
Accumulated other comprehensive loss (659)  
Less: 740,799 common shares held in treasury, at cost at March 31, 2021 and December 31, 2020 (662)  
Total shareholders' equity 103,513  
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 137,426