10-Q Filing

ZEDGE, INC. CIK: 1667313 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001213900-20-042513`
Period End Date	20201031
Filing Date	20201214
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	zdge-20201031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 32 Cash Flow Statement 43 Stockholders Equity 16

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.25M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $0 at October 31, 2020 and July 31, 2020	`AccountsReceivableNetCurrent`	$1.41M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $0 at October 31, 2020 and July 31, 2020	`AccountsReceivableNetCurrent`	$1.96M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$261.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$123.00K	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$113.00K	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$76.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.55M	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.44M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.58M	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Goodwill	`Goodwill`	$2.20M	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
Goodwill	`Goodwill`	$2.09M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.40M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$471.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$390.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.40M	shares	Point-in-time
Total assets	`Assets`	$13.47M	USD	Point-in-time
Total assets	`Assets`	$12.01M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$290.00K	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$365.00K	USD	Point-in-time
Insurance premium loan payable	`LoansPayableCurrent`	-	USD	Point-in-time
Insurance premium loan payable	`LoansPayableCurrent`	$142.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$1.21M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$1.20M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	58,000.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	40,000.00	shares	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$1.34M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$1.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.84M	USD	Point-in-time
Loans Payable	`LoansPayable`	$218.00K	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`	$3.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.12M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.48M	USD	Point-in-time
Commitments and contingencies (Notes 8 and 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 8 and 11)	`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
Class A common stock, $.01 par value; authorized shares2,600; 525 shares issued and outstanding at October 31, 2020 and July 31, 2020	`CommonStockValue`	$5.00K	USD	Point-in-time
Class A common stock, $.01 par value; authorized shares2,600; 525 shares issued and outstanding at October 31, 2020 and July 31, 2020	`CommonStockValue`	$5.00K	USD	Point-in-time
Class B common stock, $.01 par value; authorized shares40,000; 11,827 shares issued and 11,769 shares outstanding at October 31, 2020, and 11,789 shares issued and 11,749 outstanding at July 31, 2020	`CommonStockValueOne`	$118.00K	USD	Point-in-time
Class B common stock, $.01 par value; authorized shares40,000; 11,827 shares issued and 11,769 shares outstanding at October 31, 2020, and 11,789 shares issued and 11,749 outstanding at July 31, 2020	`CommonStockValueOne`	$118.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.96M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.73M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.08M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.76M	USD	Point-in-time
Treasury stock, 58 shares at October 31, 2020 and 40 shares at July 31, 2020, at cost	`TreasuryStockValue`	$102.00K	USD	Point-in-time
Treasury stock, 58 shares at October 31, 2020 and 40 shares at July 31, 2020, at cost	`TreasuryStockValue`	$76.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$8.88M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.96M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.09M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$9.98M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$13.47M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$12.01M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$2.03M	USD	1 Quarter
Revenues	`Revenues`	$3.76M	USD	1 Quarter
Direct cost of revenues (exclusive of amortization of capitalized software and technology development costs included below)	`OperatingCostsAndExpenses`	$328.00K	USD	1 Quarter
Direct cost of revenues (exclusive of amortization of capitalized software and technology development costs included below)	`OperatingCostsAndExpenses`	$304.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.01M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.95M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$505.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$359.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-745.00K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$1.09M	USD	1 Quarter
Interest and other income (expense), net	`InterestIncomeExpenseNet`	$1.00K	USD	1 Quarter
Net loss resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-56.00K	USD	1 Quarter
Net loss resulting from foreign exchange transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-41.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-801.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.05M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$8.00K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-801.00K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$1.04M	USD	1 Quarter
Changes in foreign currency translation adjustment	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-159.00K	USD	1 Quarter
Changes in foreign currency translation adjustment	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-143.00K	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-143.00K	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-159.00K	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-944.00K	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$886.00K	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.08	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.20M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.19M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.50M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.20M	shares	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-801.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.04M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$505.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$359.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$98.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$237.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-68.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$554.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-80.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-207.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-19.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$13.00K	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$192.00K	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$80.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$221.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$96.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.49M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$352.00K	USD	1 Quarter
Capitalized software and technology development costs and purchase of equipment	`PaymentsToDevelopSoftware`	$215.00K	USD	1 Quarter
Capitalized software and technology development costs and purchase of equipment	`PaymentsToDevelopSoftware`	$213.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-213.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-215.00K	USD	1 Quarter
Repayment of insurance premium loan payable	`RepaymentsOfShortTermDebt`	$40.00K	USD	1 Quarter
Repayment of insurance premium loan payable	`RepaymentsOfShortTermDebt`	$31.00K	USD	1 Quarter
Purchase of treasury stock in connection with restricted stock vesting	`PaymentsForRepurchaseOfCommonStock`	$26.00K	USD	1 Quarter
Purchase of treasury stock in connection with restricted stock vesting	`PaymentsForRepurchaseOfCommonStock`	$22.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-66.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-53.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-36.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-65.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.14M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$50.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.66M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.61M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.25M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.66M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.61M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.25M	USD	Point-in-time
Cash payments made for interest expenses	`InterestPaidNet`	$1.00K	USD	1 Quarter
Cash payments made for interest expenses	`InterestPaidNet`	$1.00K	USD	1 Quarter
Note payable issued for insurance premium financing	`StockIssued1`	$181.00K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$8.88M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.98M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$98.00K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$237.00K	USD	1 Quarter
Purchase of treasury stock	`StockIssuedDuringPeriodValueTreasuryStockReissued`	$-26.00K	USD	1 Quarter
Purchase of treasury stock	`StockIssuedDuringPeriodValueTreasuryStockReissued`	$-22.00K	USD	1 Quarter
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-143.00K	USD	1 Quarter
Foreign currency translation adjustment	`TemporaryEquityForeignCurrencyTranslationAdjustments`	$-159.00K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-801.00K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$1.04M	USD	1 Quarter
Balance	`StockholdersEquity`	$8.88M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.98M	USD	Point-in-time

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