v3.19.3
Condensed Consolidated Balance Sheet - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash $ 68,000 $ 844,000
Accounts receivable, net 3,241,000 3,606,000
Prepaid expenses and other current assets 637,000 272,000
Total current assets 3,946,000 4,722,000
Property and equipment, net 38,000 66,000
Goodwill 25,786,000 25,821,000
Intangible assets, net 315,000 521,000
Deferred tax asset – long term 64,000 64,000
Restricted cash 0 5,500,000
Other assets 276,000 187,000
Total assets 30,425,000 36,881,000
Current liabilities:    
Accounts payable 9,563,000 9,890,000
Accrued expenses 3,978,000 3,028,000
Deferred revenue 3,168,000 2,629,000
PhunCoin deposits 1,202,000 0
Factored receivables payable 1,546,000 2,434,000
Short term notes payable - related party 0 1,993,000
Total current liabilities 19,457,000 19,974,000
Convertible note payable (see Note 5) 250,000 0
Deferred tax liability 64,000 64,000
Deferred revenue 4,167,000 5,622,000
Deferred rent 6,000 17,000
Total liabilities 23,944,000 25,677,000
Commitments and contingencies (see Note 6)
Redeemable convertible preferred stock, $0.0001 par value (see Note 8) 0 5,377,000
Stockholders’ equity    
Common stock, $0.0001 par value (see Note 9) 4,000 3,000
Additional paid in capital 126,651,000 118,062,000
Accumulated other comprehensive loss (454,000) (418,000)
Accumulated deficit (119,720,000) (111,820,000)
Total stockholders’ equity 6,481,000 5,827,000
Total liabilities, redeemable convertible preferred stock, and stockholders’ equity $ 30,425,000 $ 36,881,000

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