10-K Filing

EXP WORLD HOLDINGS, INC. CIK: 1495932 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001495932-19-000028`
Period End Date	20181231
Filing Date	20190318
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	expi-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 35 Cash Flow Statement 52 Stockholders Equity 25 Comprehensive Income 6

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$484.44K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivable`	$179.76K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.67M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.54M	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	220.00M	shares	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	220.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$923.19K	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$2.50M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	54.96M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	60.61M	shares	Point-in-time
Accounts receivable, net of allowance $484,441 and $179,759, respectively	`AccountsReceivableNetCurrent`	$6.91M	USD	Point-in-time
Accounts receivable, net of allowance $484,441 and $179,759, respectively	`AccountsReceivableNetCurrent`	$17.43M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	60.61M	shares	Point-in-time
Prepaids and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$591.03K	USD	Point-in-time
Prepaids and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.86M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	54.96M	shares	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$42.33M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$13.10M	USD	Point-in-time
FIXED ASSETS, NET	`PropertyPlantAndEquipmentNet`	$2.74M	USD	Point-in-time
FIXED ASSETS, NET	`PropertyPlantAndEquipmentNet`	$1.54M	USD	Point-in-time
INTANGIBLES ASSETS, NET	`IntangibleAssetsNetIncludingGoodwill`	$2.53M	USD	Point-in-time
GOODWILL	`Goodwill`	-	USD	Point-in-time
GOODWILL	`Goodwill`	$8.25M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$55.85M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$14.64M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.76M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$635.09K	USD	Point-in-time
Customer deposits	`CustomerAdvancesAndDeposits`	$923.19K	USD	Point-in-time
Customer deposits	`CustomerAdvancesAndDeposits`	$2.50M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$8.82M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$18.98M	USD	Point-in-time
Current portion of long-term payable	`LongTermDebtCurrent`	$974.66K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$10.38M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$24.21M	USD	Point-in-time
LONG-TERM PAYABLE, net of current portion	`LongTermDebtNoncurrent`	$1.65M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$25.87M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$10.38M	USD	Point-in-time
Commitments and Contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock, $0.00001 par value 220,000,000 shares authorized; 60,609,102 and 54,962,535 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$550.00	USD	Point-in-time
Common Stock, $0.00001 par value 220,000,000 shares authorized; 60,609,102 and 54,962,535 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$606.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$90.76M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$36.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-32.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-60.77M	USD	Point-in-time
Accumulated other comprehensive (loss)	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$-11.33K	USD	Point-in-time
Accumulated other comprehensive (loss)	`AccumulatedOtherComprehensiveIncomeLossBeforeTax1`	$8.45K	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.26M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.98M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.53M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$55.85M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$14.64M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$500.15M	USD	Annual
Revenues	`Revenues`	$156.10M	USD	Annual
Commission and other agent-related costs	`CostOfRevenue`	$459.72M	USD	Annual
Commission and other agent-related costs	`CostOfRevenue`	$139.60M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$35.69M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$57.62M	USD	Annual
Professional fees	`ProfessionalAndContractServicesExpense`	$1.27M	USD	Annual
Professional fees	`ProfessionalAndContractServicesExpense`	$2.24M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$1.57M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$2.96M	USD	Annual
Total expenses	`OperatingExpenses`	$178.14M	USD	Annual
Total expenses	`OperatingExpenses`	$522.53M	USD	Annual
Net loss from operations	`OperatingIncomeLoss`	$-22.03M	USD	Annual
Net loss from operations	`OperatingIncomeLoss`	$-22.38M	USD	Annual
Interest income (expense)	`InterestIncomeExpenseNet`	$-2.08K	USD	Annual
Interest income (expense)	`InterestIncomeExpenseNet`	$53.16K	USD	Annual
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-21.20K	USD	Annual
Total other income and (expenses)	`NonoperatingIncomeExpense`	$31.96K	USD	Annual
Total other income and (expenses)	`NonoperatingIncomeExpense`	$-2.08K	USD	Annual
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-22.35M	USD	Annual
Loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-22.03M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$77.80K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$97.23K	USD	Annual
Net loss	`ProfitLoss`	$-22.13M	USD	Annual
Net loss	`ProfitLoss`	$-22.43M	USD	Annual
Net loss attributable to common shareholders	`NetIncomeLoss`	$-22.43M	USD	Annual
Net loss attributable to common shareholders	`NetIncomeLoss`	$-22.13M	USD	Annual
Net loss per share attributable to common sharesholders - Basic from continuing operations	`EarningsPerShareBasic`	$-0.42	USD	Annual
Net loss per share attributable to common sharesholders - Basic from continuing operations	`EarningsPerShareBasic`	$-0.39	USD	Annual
Net loss per share attributable to common sharesholders - Diluted from continuing operations	`EarningsPerShareDiluted`	$-0.39	USD	Annual
Net loss per share attributable to common sharesholders - Diluted from continuing operations	`EarningsPerShareDiluted`	$-0.42	USD	Annual
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	57.69M	shares	Annual
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	53.19M	shares	Annual
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.69M	shares	Annual
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	53.19M	shares	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-22.13M	USD	Annual
Net loss	`ProfitLoss`	$-22.43M	USD	Annual
Depreciation	`Depreciation`	$893.99K	USD	Annual
Depreciation	`Depreciation`	$353.23K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$19.05M	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$10.96M	USD	Annual
Stock option expense	`StockOptionPlanExpense`	$6.86M	USD	Annual
Stock option expense	`StockOptionPlanExpense`	$4.85M	USD	Annual
Agent equity program	`ShareBasedCompensationAgentEquityProgram`	$5.86M	USD	Annual
Agent equity program	`ShareBasedCompensationAgentEquityProgram`	$21.25M	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$21.20K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.88M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.52M	USD	Annual
Prepaids and other assets	`IncreaseDecreaseInPrepaidExpense`	$1.18M	USD	Annual
Prepaids and other assets	`IncreaseDecreaseInPrepaidExpense`	$279.36K	USD	Annual
Customer deposits	`IncreaseDecreaseInDepositsOutstanding`	$-441.49K	USD	Annual
Customer deposits	`IncreaseDecreaseInDepositsOutstanding`	$-1.60M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$317.67K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$608.93K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$6.08M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$10.17M	USD	Annual
CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$4.57M	USD	Annual
CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$24.31M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.28M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.13M	USD	Annual
Payment for business acquisition and intangibles	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$6.72M	USD	Annual
CASH USED BY INVESTMENT ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-8.86M	USD	Annual
CASH USED BY INVESTMENT ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-1.28M	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$142.16K	USD	Annual
Repurchase and retirement of subsidiary common stock	`PaymentsForRepurchaseOfCommonStock`	$3.61K	USD	Annual
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$46.60K	USD	Annual
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$2.02M	USD	Annual
Principal payments of notes payable	`RepaymentsOfNotesPayable`	$35.78K	USD	Annual
CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$149.37K	USD	Annual
CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$2.02M	USD	Annual
Effect of changes in exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-20.87K	USD	Annual
Effect of changes in exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-7.66K	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$17.45M	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.43M	USD	Annual
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.60M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.04M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.17M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.60M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.04M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.17M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$2.08K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$72.68K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$97.23K	USD	Annual
Common stock issued for business acquisition	`NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1`	1.00M	shares	Annual
Liabilities incurred associated with business acquisition	`NoncashOrPartNoncashAcquisitionIncurredValueOfLiabilities`	$4.11M	USD	Annual
Fixed asset purchases in accounts payable	`FixedAssetPurchasesInAccountsPayable`	$71.89K	USD	Annual
Fixed asset purchases in accounts payable	`FixedAssetPurchasesInAccountsPayable`	$86.95K	USD	Annual

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Stock issued for cash, net of issuance costs, per share price	`SaleOfStockPricePerShare`	$3.25	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.26M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.98M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.53M	USD	Point-in-time
Shares issued for acquisition, value	`StockIssuedDuringPeriodValueAcquisitions`	$1.00M	USD	Annual
Stock issued for cash, value	`StockIssuedDuringPeriodValueNewIssues`	$142.16K	USD	Annual
Exercise of options, shares issued	`StockIssuedDuringPeriodSharesStockOptionsExercised`	181,572.00	shares	Annual
Exercise of options, shares issued	`StockIssuedDuringPeriodSharesStockOptionsExercised`	2.59M	shares	Annual
Exercise of options, value	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$46.60K	USD	Annual
Exercise of options, value	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$2.02M	USD	Annual
Stock compensation expense, value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$10.96M	USD	Annual
Stock compensation expense, value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$19.05M	USD	Annual
Stock option expense	`StockOptionPlanExpense`	$4.85M	USD	Annual
Stock option expense	`StockOptionPlanExpense`	$6.86M	USD	Annual
Agent equity program, value	`StockIssuedDuringPeriodValueIssuedForServices`	$5.86M	USD	Annual
Agent equity program, value	`StockIssuedDuringPeriodValueIssuedForServices`	$21.25M	USD	Annual
Repurchase and retirement of shares, shares	`StockRepurchasedAndRetiredDuringPeriodShares`	1,307.00	shares	Annual
Repurchase and retirement of shares, value	`StockRepurchasedAndRetiredDuringPeriodValue`	$3.61K	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-19.78K	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.25K	USD	Annual
Net loss	`ProfitLoss`	$-22.13M	USD	Annual
Net loss	`ProfitLoss`	$-22.43M	USD	Annual
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.26M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.98M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.53M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-22.13M	USD	Annual
Net loss	`ProfitLoss`	$-22.43M	USD	Annual
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-19.78K	USD	Annual
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.25K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-22.45M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-22.13M	USD	Annual

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