10-Q Filing

PAYSIGN, INC. CIK: 1496443 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001683168-18-002224`
Period End Date	20180630
Filing Date	20180809
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	tpnl-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 76 Cash Flow Statement 52 Stockholders Equity 9

Balance Sheet 52 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`	43.67M	shares	Point-in-time
Cash	`Cash`	$2.75M	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	43.67M	shares	Point-in-time
Cash	`Cash`	$3.07M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	43.67M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	43.67M	shares	Point-in-time
Cash Restricted	`RestrictedCash`	$14.42M	USD	Point-in-time
Cash Restricted	`RestrictedCash`	$18.46M	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$189.58K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$165.52K	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`	$1.05M	USD	Point-in-time
Prepaid Expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$572.79K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.78M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$854.40K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$809.23K	USD	Point-in-time
Deposits	`DepositsAssets`	$5.55K	USD	Point-in-time
Deposits	`DepositsAssets`	$4.55K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.64M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.90M	USD	Point-in-time
Total assets	`Assets`	$20.40M	USD	Point-in-time
Total assets	`Assets`	$25.49M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.15M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$688.54K	USD	Point-in-time
Customer card funding	`CustomerDepositsCurrent`	$14.42M	USD	Point-in-time
Customer card funding	`CustomerDepositsCurrent`	$18.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.15M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.15M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.56M	USD	Point-in-time
Common stock; $0.001 par value; 150,000,000 shares authorized, 43,670,765 issued and outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$43.67K	USD	Point-in-time
Common stock; $0.001 par value; 150,000,000 shares authorized, 43,670,765 issued and outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$43.67K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.51M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.16M	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`	$-863.91K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.01M	USD	Point-in-time
Total 3Pea International, Inc.'s stockholders' equity	`StockholdersEquity`	$6.54M	USD	Point-in-time
Total 3Pea International, Inc.'s stockholders' equity	`StockholdersEquity`	$5.04M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-202.63K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-200.12K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.84M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$20.40M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$25.49M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.42M	USD	1 Quarter
Revenues	`Revenues`	$6.62M	USD	2 Qtrs
Revenues	`Revenues`	$10.14M	USD	2 Qtrs
Revenues	`Revenues`	$5.46M	USD	1 Quarter
Cost of revenues (excluding depreciation and amortization)	`CostOfRevenue`	$5.27M	USD	2 Qtrs
Cost of revenues (excluding depreciation and amortization)	`CostOfRevenue`	$3.69M	USD	2 Qtrs
Cost of revenues (excluding depreciation and amortization)	`CostOfRevenue`	$2.84M	USD	1 Quarter
Cost of revenues (excluding depreciation and amortization)	`CostOfRevenue`	$1.86M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.86M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.56M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.62M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.93M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$496.08K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$234.41K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$250.45K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$449.27K	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.67M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.25M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$928.59K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.74M	USD	2 Qtrs
Total operating expenses	`OperatingCostsAndExpenses`	$1.16M	USD	1 Quarter
Total operating expenses	`OperatingCostsAndExpenses`	$3.74M	USD	2 Qtrs
Total operating expenses	`OperatingCostsAndExpenses`	$2.19M	USD	2 Qtrs
Total operating expenses	`OperatingCostsAndExpenses`	$1.92M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.12M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$399.63K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$737.43K	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$701.54K	USD	1 Quarter
Other income	`OtherIncome`	$29.89K	USD	1 Quarter
Other income	`OtherIncome`	$5.90K	USD	1 Quarter
Other income	`OtherIncome`	$22.49K	USD	2 Qtrs
Other income	`OtherIncome`	$26.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$31.62K	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$31.62K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$22.49K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-5.63K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$29.89K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-25.72K	USD	1 Quarter
Income before provision for income taxes and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$731.43K	USD	1 Quarter
Income before provision for income taxes and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$731.81K	USD	2 Qtrs
Income before provision for income taxes and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.14M	USD	2 Qtrs
Income before provision for income taxes and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$373.91K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.00K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income before noncontrolling interest	`ProfitLoss`	$1.14M	USD	2 Qtrs
Net income before noncontrolling interest	`ProfitLoss`	$370.91K	USD	1 Quarter
Net income before noncontrolling interest	`ProfitLoss`	$731.43K	USD	1 Quarter
Net income before noncontrolling interest	`ProfitLoss`	$725.81K	USD	2 Qtrs
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-622.00	USD	1 Quarter
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-28.03K	USD	2 Qtrs
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-2.52K	USD	2 Qtrs
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-13.53K	USD	1 Quarter
Net income attributable to 3Pea International, Inc.	`NetIncomeLoss`	$753.84K	USD	2 Qtrs
Net income attributable to 3Pea International, Inc.	`NetIncomeLoss`	$732.06K	USD	1 Quarter
Net income attributable to 3Pea International, Inc.	`NetIncomeLoss`	$1.14M	USD	2 Qtrs
Net income attributable to 3Pea International, Inc.	`NetIncomeLoss`	$384.44K	USD	1 Quarter
Net income per common share - basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Net income per common share - basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Net income per common share - basic	`EarningsPerShareBasic`	$0.03	USD	2 Qtrs
Net income per common share - basic	`EarningsPerShareBasic`	$0.02	USD	2 Qtrs
Net income per common share - fully diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Net income per common share - fully diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Net income per common share - fully diluted	`EarningsPerShareDiluted`	$0.02	USD	2 Qtrs
Net income per common share - fully diluted	`EarningsPerShareDiluted`	$0.02	USD	2 Qtrs
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	43.26M	shares	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	45.36M	shares	2 Qtrs
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	45.56M	shares	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	43.22M	shares	2 Qtrs
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	45.89M	shares	2 Qtrs
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	46.04M	shares	1 Quarter
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	44.15M	shares	2 Qtrs
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	44.19M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income attritubutable to 3Pea International Inc.	`NetIncomeLoss`	$384.44K	USD	1 Quarter
Net income attritubutable to 3Pea International Inc.	`NetIncomeLoss`	$1.14M	USD	2 Qtrs
Net income attritubutable to 3Pea International Inc.	`NetIncomeLoss`	$732.06K	USD	1 Quarter
Net income attritubutable to 3Pea International Inc.	`NetIncomeLoss`	$753.84K	USD	2 Qtrs
Change in noncontrolling interest	`MinorityInterestPeriodIncreaseDecrease`	$-2.52K	USD	2 Qtrs
Change in noncontrolling interest	`MinorityInterestPeriodIncreaseDecrease`	$-28.03K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$234.41K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$250.45K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$449.27K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$496.08K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$102.91K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$349.58K	USD	2 Qtrs
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.26K	USD	2 Qtrs
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$24.06K	USD	2 Qtrs
Change in prepaid expenses	`IncreaseDecreaseInPrepaidExpensesOther`	$258.20K	USD	2 Qtrs
Change in prepaid expenses	`IncreaseDecreaseInPrepaidExpensesOther`	$475.35K	USD	2 Qtrs
Change in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.00K	USD	2 Qtrs
Change in other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.00K	USD	2 Qtrs
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-456.55K	USD	2 Qtrs
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-84.88K	USD	2 Qtrs
Change in customer card funding	`IncreaseDecreaseInCustomerDeposits`	$4.05M	USD	2 Qtrs
Change in customer card funding	`IncreaseDecreaseInCustomerDeposits`	$1.64M	USD	2 Qtrs
Change in legal settlement payable	`GainLossRelatedToLitigationSettlement`	$254.90K	USD	2 Qtrs
Change in legal settlement payable	`GainLossRelatedToLitigationSettlement`	-	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.31M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.08M	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$398.89K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$61.47K	USD	2 Qtrs
Intangible assets	`PaymentsToAcquireIntangibleAssets`	$645.44K	USD	2 Qtrs
Intangible assets	`PaymentsToAcquireIntangibleAssets`	$399.93K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-798.82K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-706.91K	USD	2 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	2 Qtrs
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$50.00K	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$152.06K	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	-	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-102.06K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net change in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$4.37M	USD	2 Qtrs
Net change in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.41M	USD	2 Qtrs
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.16M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.54M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.63M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.05M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.16M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.54M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.63M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$13.05M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$46.66K	USD	2 Qtrs
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	$13.20K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.33M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.84M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$349.58K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$731.43K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$725.81K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$370.91K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$1.14M	USD	2 Qtrs
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.33M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.84M	USD	Point-in-time

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