Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash $ 20,925 $ 19,994
Accounts receivable, net 12,089 6,995
Contract asset 4,105 2,385
Inventory 399 491
Current assets - related party 13 13
Prepaid expenses and other current assets 7,288 1,123
Total current assets 44,819 31,001
Property and equipment - net 4,921 2,908
Operating lease right-of-use assets 7,743 3,526
Intangible assets - net 29,978 5,977
Goodwill 49,291 12,634
Other assets 1,247 356
TOTAL ASSETS 137,999 56,402
CURRENT LIABILITIES:    
Accounts payable 6,461 3,491
Accrued compensation 2,590 1,836
Accrued expenses 8,501 2,111
Operating lease liability (current portion) 4,729 1,689
Deferred revenue (current portion) 1,173 20
Accrued liability to related party 1 1
Deferred payroll taxes 927
Notes payable (current portion) 401 284
Dividend payable 4,241 1,746
Total current liabilities 29,024 11,178
Notes payable 41 83
Deferred payroll taxes 927
Operating lease liability 6,297 2,041
Deferred revenue 305 19
Deferred tax liability 160 244
Total liabilities 36,754 13,565
COMMITMENTS AND CONTINGENCIES (NOTE 11)
SHAREHOLDERS' EQUITY:    
Preferred stock, $0.001 par value - authorized 7,000,000 shares at December 31, 2020 and December 31, 2019; issued and outstanding 5,475,279 and 2,539,325 shares at December 31, 2020 and December 31, 2019, respectively 5 2
Common stock, $0.001 par value - authorized 29,000,000 shares at December 31, 2020 and December 31, 2019; issued 14,121,044 and 12,978,485 shares at December 31, 2020 and December 31, 2019, respectively; 13,380,245 and 12,237,686 shares outstanding at December 31, 2020 and December 31, 2019, respectively 14 13
Additional paid-in capital 136,781 69,403
Accumulated deficit (33,889) (25,076)
Accumulated other comprehensive loss (1,004) (843)
Less: 740,799 common shares held in treasury, at cost at December 31, 2020 and December 31, 2019 (662) (662)
Total shareholders' equity 101,245 42,837
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 137,999 $ 56,402