10-Q Filing

PAYSIGN, INC. CIK: 1496443 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001019687-16-007121`
Period End Date	20160630
Filing Date	20160809
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	tpnl-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 80 Cash Flow Statement 54 Stockholders Equity 9

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	42.51M	shares	Point-in-time
Cash	`Cash`	$2.82M	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	42.95M	shares	Point-in-time
Cash	`Cash`	$3.89M	USD	Point-in-time
Cash	`Cash`	$1.11M	USD	Point-in-time
Cash	`Cash`	$1.39M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	42.95M	shares	Point-in-time
Cash Restricted	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$7.06M	USD	Point-in-time
Cash Restricted	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$10.36M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	42.51M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$16.74K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$65.37K	USD	Point-in-time
Treasury stock shares	`TreasuryStockShares`	303,450.00	shares	Point-in-time
Treasury stock shares	`TreasuryStockShares`	303,450.00	shares	Point-in-time
Prepaid Expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$254.22K	USD	Point-in-time
Prepaid Expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$319.66K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.85M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.72M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$271.97K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$273.93K	USD	Point-in-time
Deposits	`DepositsAssets`	$3.55K	USD	Point-in-time
Deposits	`DepositsAssets`	$3.55K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.41M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.26M	USD	Point-in-time
Total assets	`Assets`	$10.26M	USD	Point-in-time
Total assets	`Assets`	$13.54M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$527.50K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$465.32K	USD	Point-in-time
Customer card funding	`CustomerDepositsCurrent`	$7.06M	USD	Point-in-time
Customer card funding	`CustomerDepositsCurrent`	$10.36M	USD	Point-in-time
Legal settlement payable, current portion	`LitigationReserveCurrent`	$915.48K	USD	Point-in-time
Legal settlement payable, current portion	`LitigationReserveCurrent`	$758.43K	USD	Point-in-time
Stocks payable	`StocksPayableCurrent`	$125.99K	USD	Point-in-time
Stocks payable	`StocksPayableCurrent`	$53.99K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$174.10K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$205.15K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.90M	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	$24.29K	USD	Point-in-time
Notes payable	`LongTermNotesPayable`	-	USD	Point-in-time
Legal settlement payable, long-term portion	`LitigationReserveNoncurrent`	-	USD	Point-in-time
Legal settlement payable, long-term portion	`LitigationReserveNoncurrent`	$339.18K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$24.29K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$339.18K	USD	Point-in-time
Total liabilities	`Liabilities`	$9.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.93M	USD	Point-in-time
Common stock; $0.001 par value; 150,000,000 shares authorized, 42,948,265 and 42,510,765 issued and outstanding at June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$42.51K	USD	Point-in-time
Common stock; $0.001 par value; 150,000,000 shares authorized, 42,948,265 and 42,510,765 issued and outstanding at June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$42.95K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.58M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.68M	USD	Point-in-time
Treasury stock at cost, 303,450 shares	`TreasuryStockValue`	$150.00K	USD	Point-in-time
Treasury stock at cost, 303,450 shares	`TreasuryStockValue`	$150.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.78M	USD	Point-in-time
Total 3Pea International, Inc.'s stockholders' equity	`StockholdersEquity`	$1.79M	USD	Point-in-time
Total 3Pea International, Inc.'s stockholders' equity	`StockholdersEquity`	$1.27M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-91.54K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-174.89K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.18M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.61M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$10.26M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.54M	USD	Point-in-time

Income Statement 80 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.91M	USD	2 Qtrs
Revenues	`Revenues`	$2.31M	USD	1 Quarter
Revenues	`Revenues`	$4.56M	USD	2 Qtrs
Revenues	`Revenues`	$2.38M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$2.29M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$1.12M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$980.61K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$2.03M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.26M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.33M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.88M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.26M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$256.99K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$133.35K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$74.30K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$146.06K	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.69M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$808.28K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.64M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$786.80K	USD	1 Quarter
Total operating expenses	`OperatingCostsAndExpenses`	$1.84M	USD	2 Qtrs
Total operating expenses	`OperatingCostsAndExpenses`	$1.90M	USD	2 Qtrs
Total operating expenses	`OperatingCostsAndExpenses`	$941.63K	USD	1 Quarter
Total operating expenses	`OperatingCostsAndExpenses`	$861.10K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$43.03K	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$366.62K	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$315.47K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$469.51K	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$11.34K	USD	2 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Other income	`OtherIncome`	$2.08K	USD	1 Quarter
Other income	`OtherIncome`	$5.91K	USD	2 Qtrs
Other income	`OtherIncome`	-	USD	2 Qtrs
Interest expense	`InterestExpense`	$4.40K	USD	1 Quarter
Interest expense	`InterestExpense`	$21.18K	USD	2 Qtrs
Interest expense	`InterestExpense`	$38.27K	USD	2 Qtrs
Interest expense	`InterestExpense`	$22.71K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-4.40K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-20.63K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-32.35K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-9.85K	USD	2 Qtrs
Income before provision for income taxes and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$334.27K	USD	2 Qtrs
Income before provision for income taxes and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$33.18K	USD	2 Qtrs
Income before provision for income taxes and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$294.84K	USD	1 Quarter
Income before provision for income taxes and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$465.11K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income before noncontrolling interest	`ProfitLoss`	$33.18K	USD	2 Qtrs
Net income before noncontrolling interest	`ProfitLoss`	$294.84K	USD	1 Quarter
Net income before noncontrolling interest	`ProfitLoss`	$334.27K	USD	2 Qtrs
Net income before noncontrolling interest	`ProfitLoss`	$465.11K	USD	1 Quarter
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-32.58K	USD	2 Qtrs
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-40.84K	USD	1 Quarter
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-83.35K	USD	2 Qtrs
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-42.45K	USD	1 Quarter
Net income attributable to 3Pea International, Inc.	`NetIncomeLoss`	$417.62K	USD	2 Qtrs
Net income attributable to 3Pea International, Inc.	`NetIncomeLoss`	$65.76K	USD	2 Qtrs
Net income attributable to 3Pea International, Inc.	`NetIncomeLoss`	$507.56K	USD	1 Quarter
Net income attributable to 3Pea International, Inc.	`NetIncomeLoss`	$335.68K	USD	1 Quarter
Net income per common share - basic	`EarningsPerShareBasic`	$0.01	USD	2 Qtrs
Net income per common share - basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Net income per common share - basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Net income per common share - basic	`EarningsPerShareBasic`	-	USD	2 Qtrs
Net income per common share - fully diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Net income per common share - fully diluted	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Net income per common share - fully diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Net income per common share - fully diluted	`EarningsPerShareDiluted`	$0.01	USD	2 Qtrs
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	39.91M	shares	2 Qtrs
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	42.91M	shares	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	36.98M	shares	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	42.79M	shares	2 Qtrs
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	43.10M	shares	1 Quarter
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.18M	shares	1 Quarter
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	41.11M	shares	2 Qtrs
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	42.98M	shares	2 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$417.62K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$65.76K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$507.56K	USD	1 Quarter
Net income	`NetIncomeLoss`	$335.68K	USD	1 Quarter
Change in noncontrolling interest	`MinorityInterestPeriodIncreaseDecrease`	$-83.35K	USD	2 Qtrs
Change in noncontrolling interest	`MinorityInterestPeriodIncreaseDecrease`	$-32.58K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$256.99K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$146.06K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$101.44K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$26.82K	USD	2 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$11.34K	USD	2 Qtrs
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$3.29M	USD	2 Qtrs
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-3.10M	USD	2 Qtrs
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$48.63K	USD	2 Qtrs
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-61.33K	USD	2 Qtrs
Change in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-36.96K	USD	2 Qtrs
Change in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$65.43K	USD	2 Qtrs
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$177.41K	USD	2 Qtrs
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-177.01K	USD	2 Qtrs
Change in customer card funding	`IncreaseDecreaseInCustomerDeposits`	$3.29M	USD	2 Qtrs
Change in customer card funding	`IncreaseDecreaseInCustomerDeposits`	$-3.10M	USD	2 Qtrs
Change in legal settlement payable	`GainLossRelatedToLitigationSettlement`	-	USD	2 Qtrs
Change in legal settlement payable	`GainLossRelatedToLitigationSettlement`	$496.23K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$185.19K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$190.62K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$51.25K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$42.00K	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$361.38K	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$364.49K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-403.38K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-415.74K	USD	2 Qtrs
Proceeds from borrowing on note payable	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Proceeds from borrowing on note payable	`ProceedsFromNotesPayable`	$31.60K	USD	2 Qtrs
Payments in notes payable - related party	`RepaymentsOfRelatedPartyDebt`	$700.44K	USD	2 Qtrs
Payments in notes payable - related party	`RepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$143.85K	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$91.49K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-844.29K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-59.89K	USD	2 Qtrs
Net change in cash	`CashPeriodIncreaseDecrease`	$-278.08K	USD	2 Qtrs
Net change in cash	`CashPeriodIncreaseDecrease`	$-1.07M	USD	2 Qtrs
Cash, beginning of period	`Cash`	$2.82M	USD	Point-in-time
Cash, beginning of period	`Cash`	$3.89M	USD	Point-in-time
Cash, beginning of period	`Cash`	$1.11M	USD	Point-in-time
Cash, beginning of period	`Cash`	$1.39M	USD	Point-in-time
Cash, end of period	`Cash`	$2.82M	USD	Point-in-time
Cash, end of period	`Cash`	$3.89M	USD	Point-in-time
Cash, end of period	`Cash`	$1.11M	USD	Point-in-time
Cash, end of period	`Cash`	$1.39M	USD	Point-in-time
Transfer of accrued interest from accrued liabilities to notes payable	`TransferOfAccruedInterestFromAccruedLiabilitiesToNotesPayable`	-	USD	2 Qtrs
Transfer of accrued interest from accrued liabilities to notes payable	`TransferOfAccruedInterestFromAccruedLiabilitiesToNotesPayable`	$115.23K	USD	2 Qtrs

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.18M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.61M	USD	Point-in-time
Issuance of stock for accrued liabilities and services, value	`StockIssuedDuringPeriodValueIssuedForServices`	$98.81K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$294.84K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$334.27K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$465.11K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$33.18K	USD	2 Qtrs
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.18M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.61M	USD	Point-in-time

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