10-K Filing

ZEDGE, INC. CIK: 1667313 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001213900-20-033714`
Period End Date	20200731
Filing Date	20201028
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	zdge-20200731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 30 Cash Flow Statement 49 Stockholders Equity 19

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.40M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.40M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.61M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $0 at July 31, 2020 and 2019	`AccountsReceivableNetCurrent`	$1.41M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $0 at July 31, 2020 and 2019	`AccountsReceivableNetCurrent`	$1.13M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$123.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$380.00K	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$113.00K	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$103.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.23M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.40M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.58M	USD	Point-in-time
Goodwill	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$2.27M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	40,000.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	40,000.00	shares	Point-in-time
Goodwill	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$2.20M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$120.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$471.00K	USD	Point-in-time
Total assets	`Assets`	$9.01M	USD	Point-in-time
Total assets	`Assets`	$12.01M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$290.00K	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$217.00K	USD	Point-in-time
Insurance premium loan payable	`LoansPayableCurrent`	$141.00K	USD	Point-in-time
Insurance premium loan payable	`LoansPayableCurrent`	-	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$1.17M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$1.21M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$517.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$1.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.05M	USD	Point-in-time
Loans Payable	`LoansPayable`	-	USD	Point-in-time
Loans Payable	`LoansPayable`	$218.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$64.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$2.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.12M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $.01 par value; authorized shares2,400; no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.01 par value; authorized shares2,400; no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.73M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$23.13M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.08M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-985.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.80M	USD	Point-in-time
Treasury stock, 40 shares at July 31, 2020 and 22 shares at July 31, 2019, at cost	`TreasuryStockValue`	$76.00K	USD	Point-in-time
Treasury stock, 40 shares at July 31, 2020 and 22 shares at July 31, 2019, at cost	`TreasuryStockValue`	$47.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.96M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$10.01M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$8.88M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$12.01M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$9.01M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$8.82M	USD	Annual
Revenues	`Revenues`	$9.47M	USD	Annual
Direct cost of revenues (exclusive of amortization of capitalized software and technology development costs included below)	`OperatingCostsAndExpenses`	$1.20M	USD	Annual
Direct cost of revenues (exclusive of amortization of capitalized software and technology development costs included below)	`OperatingCostsAndExpenses`	$1.38M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$8.90M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.11M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.43M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.57M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-2.89M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-403.00K	USD	Annual
Interest and other income (expense), net	`InterestIncomeExpenseNet`	$11.00K	USD	Annual
Interest and other income (expense), net	`InterestIncomeExpenseNet`	$-199.00K	USD	Annual
Net loss resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-242.00K	USD	Annual
Net loss resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-152.00K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-544.00K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.33M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$15.00K	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$16.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.34M	USD	Annual
Net loss	`NetIncomeLoss`	$-559.00K	USD	Annual
Changes in foreign currency translation adjustment	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-283.00K	USD	Annual
Changes in foreign currency translation adjustment	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-100.00K	USD	Annual
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-100.00K	USD	Annual
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-283.00K	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.63M	USD	Annual
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-659.00K	USD	Annual
Basic and diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	Annual
Basic and diluted (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.33	USD	Annual
Basic and diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.08M	shares	Annual
Basic and diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.13M	shares	Annual

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.34M	USD	Annual
Net loss	`NetIncomeLoss`	$-559.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.43M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.57M	USD	Annual
Impairment of investment in privately-held company	`AssetImpairmentCharges`	$250.00K	USD	Annual
Loss on disposal of furniture and fixtures	`GainLossOnDispositionOfAssets1`	$-3.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$492.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$619.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-644.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$274.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-277.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-247.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$55.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-5.00K	USD	Annual
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-311.00K	USD	Annual
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-118.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$821.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$506.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$76.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.12M	USD	Annual
Capitalized software and technology development costs and purchase of equipment	`PaymentsToDevelopSoftware`	$759.00K	USD	Annual
Capitalized software and technology development costs and purchase of equipment	`PaymentsToDevelopSoftware`	$1.49M	USD	Annual
Investment in privately-held company	`PaymentsToAcquireInvestments`	$250.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.74M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-759.00K	USD	Annual
Proceeds from sales of Class B Common Stock	`ProceedsFromIssuanceOfCommonStock`	$2.25M	USD	Annual
Payment of issuance costs	`PaymentsOfDebtIssuanceCosts`	$141.00K	USD	Annual
Proceeds from PPP loan payable	`ProceedsFromIssuanceOfOtherLongTermDebt`	$218.00K	USD	Annual
Repayment of insurance premium loan payable	`RepaymentsOfShortTermDebt`	$141.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$5.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$12.00K	USD	Annual
Purchase of treasury stock in connection with restricted stock vesting	`PaymentsForRepurchaseOfCommonStock`	$47.00K	USD	Annual
Purchase of treasury stock in connection with restricted stock vesting	`PaymentsForRepurchaseOfCommonStock`	$29.00K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-42.00K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.17M	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-30.00K	USD	Annual
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-93.00K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.80M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.50M	USD	Annual
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.61M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.41M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.61M	USD	Point-in-time
Cash payments made for income taxes	`IncomeTaxesPaid`	$1.00K	USD	Annual
Cash payments made for income taxes	`IncomeTaxesPaid`	$1.00K	USD	Annual
Cash payments made for interest expenses	`InterestPaidNet`	$3.00K	USD	Annual
Note payable issued for insurance premium financing	`StockIssued1`	$141.00K	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$6.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.01M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.88M	USD	Point-in-time
Net proceeds from sales of Class B Common Stock	`StockIssuedDuringPeriodValueIssuedForServices`	$2.11M	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$12.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$5.00K	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$571.00K	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$451.00K	USD	Annual
Stock issued for matching contributions to the 401(k) Plan	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$48.00K	USD	Annual
Stock issued for matching contributions to the 401(k) Plan	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$41.00K	USD	Annual
Purchase of treasury stock	`StockIssuedDuringPeriodValueTreasuryStockReissued`	$-29.00K	USD	Annual
Purchase of treasury stock	`StockIssuedDuringPeriodValueTreasuryStockReissued`	$-47.00K	USD	Annual
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-283.00K	USD	Annual
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-100.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.34M	USD	Annual
Net loss	`NetIncomeLoss`	$-559.00K	USD	Annual
Balance	`StockholdersEquity`	$6.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.01M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.88M	USD	Point-in-time

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