10-Q Filing

PAYSIGN, INC. CIK: 1496443 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001683168-19-001397`
Period End Date	20190331
Filing Date	20190508
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	pays-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 38 Cash Flow Statement 38 Stockholders Equity 12

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
Cash	`Cash`	$5.62M	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	46.44M	shares	Point-in-time
Cash	`Cash`	$5.21M	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	46.73M	shares	Point-in-time
Cash Restricted	`RestrictedCash`	$45.93M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	46.44M	shares	Point-in-time
Cash Restricted	`RestrictedCash`	$26.05M	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	46.73M	shares	Point-in-time
Treasury stock shares	`TreasuryStockShares`	303,450.00	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$667.85K	USD	Point-in-time
Treasury stock shares	`TreasuryStockShares`	303,450.00	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$337.30K	USD	Point-in-time
Prepaid Expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.07M	USD	Point-in-time
Prepaid Expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.18M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$52.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.18M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$883.49K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$1.01M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.22M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.12M	USD	Point-in-time
Total assets	`Assets`	$36.18M	USD	Point-in-time
Total assets	`Assets`	$56.10M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.33M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$579.05K	USD	Point-in-time
Customer card funding	`CustomerDepositsCurrent`	$25.96M	USD	Point-in-time
Customer card funding	`CustomerDepositsCurrent`	$45.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$27.29M	USD	Point-in-time
Total liabilities	`Liabilities`	$45.69M	USD	Point-in-time
Common stock; $0.001 par value; 150,000,000 shares authorized, 46,731,912 and 46,440,765 issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$46.44K	USD	Point-in-time
Common stock; $0.001 par value; 150,000,000 shares authorized, 46,731,912 and 46,440,765 issued and outstanding at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$46.73K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.27M	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
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$579.58K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.45M	USD	Point-in-time
Total Paysign, Inc.'s stockholders' equity	`StockholdersEquity`	$10.61M	USD	Point-in-time
Total Paysign, Inc.'s stockholders' equity	`StockholdersEquity`	$9.10M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-206.93K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-207.49K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.39M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.84M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.41M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.89M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$36.18M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$56.10M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$4.68M	USD	1 Quarter
Revenues	`Revenues`	$7.26M	USD	1 Quarter
Cost of revenues (excluding depreciation and amortization)	`CostOfRevenue`	$3.48M	USD	1 Quarter
Cost of revenues (excluding depreciation and amortization)	`CostOfRevenue`	$2.43M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.78M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$246.04K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$333.76K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.70M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.58M	USD	1 Quarter
Total operating expenses	`OperatingCostsAndExpenses`	$1.83M	USD	1 Quarter
Total operating expenses	`OperatingCostsAndExpenses`	$3.04M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$736.44K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$418.05K	USD	1 Quarter
Other (expense)	`OtherNonoperatingIncomeExpense`	$-28.00K	USD	1 Quarter
Other (expense)	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	$119.17K	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	$20.60K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-7.40K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$119.17K	USD	1 Quarter
Income before provision for income taxes and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$410.65K	USD	1 Quarter
Income before provision for income taxes and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$855.62K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-15.49K	USD	1 Quarter
Net income before noncontrolling interest	`ProfitLoss`	$410.65K	USD	1 Quarter
Net income before noncontrolling interest	`ProfitLoss`	$871.11K	USD	1 Quarter
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-1.90K	USD	1 Quarter
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-564.00	USD	1 Quarter
Net income attributable to Paysign, Inc.	`NetIncomeLoss`	$871.67K	USD	1 Quarter
Net income attributable to Paysign, Inc.	`NetIncomeLoss`	$412.55K	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 - fully diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Net income per common share - fully diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	44.99M	shares	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	46.96M	shares	1 Quarter
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	54.51M	shares	1 Quarter
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	50.88M	shares	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net income attributable to Paysign, Inc.	`NetIncomeLoss`	$412.55K	USD	1 Quarter
Net income attributable to Paysign, Inc.	`NetIncomeLoss`	$871.67K	USD	1 Quarter
Change in noncontrolling interest	`MinorityInterestPeriodIncreaseDecrease`	$-1.90K	USD	1 Quarter
Change in noncontrolling interest	`MinorityInterestPeriodIncreaseDecrease`	$-564.00	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$246.04K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$333.76K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$646.71K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$137.40K	USD	1 Quarter
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$330.55K	USD	1 Quarter
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-823.00	USD	1 Quarter
Change in prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-108.88K	USD	1 Quarter
Change in prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$413.18K	USD	1 Quarter
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-607.12K	USD	1 Quarter
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-748.45K	USD	1 Quarter
Change in customer card funding	`IncreaseDecreaseInCustomerDeposits`	$1.91M	USD	1 Quarter
Change in customer card funding	`IncreaseDecreaseInCustomerDeposits`	$19.15M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$20.03M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.68M	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$195.46K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$53.21K	USD	1 Quarter
Change in intangible assets	`PaymentsToAcquireIntangibleAssets`	$363.95K	USD	1 Quarter
Change in intangible assets	`PaymentsToAcquireIntangibleAssets`	$299.32K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-559.41K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-352.53K	USD	1 Quarter
Net change in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$19.47M	USD	1 Quarter
Net change in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.33M	USD	1 Quarter
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.16M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.67M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.14M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.49M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.14M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.49M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.67M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.16M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.39M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.84M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.41M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.89M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$646.71K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$137.40K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$410.65K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$871.11K	USD	1 Quarter
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.39M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.84M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.41M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.89M	USD	Point-in-time

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