10-K Filing

PAYSIGN, INC. CIK: 1496443 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001683168-20-001096`
Period End Date	20191231
Filing Date	20200403
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	pays-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 38 Cash Flow Statement 42 Stockholders Equity 16

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`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
Cash	`Cash`	$9.66M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	48.58M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	46.44M	shares	Point-in-time
Restricted Cash	`RestrictedCash`	$26.05M	USD	Point-in-time
Restricted Cash	`RestrictedCash`	$35.91M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	48.58M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	46.44M	shares	Point-in-time
Treasury stock shares	`TreasuryStockShares`	303,450.00	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$337.30K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$891.94K	USD	Point-in-time
Treasury stock shares	`TreasuryStockShares`	303,450.00	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.41M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$47.88M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$937.18K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$883.49K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.12M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.82M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$7.50K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$917.48K	USD	Point-in-time
Total assets	`Assets`	$53.55M	USD	Point-in-time
Total assets	`Assets`	$36.18M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.52M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.33M	USD	Point-in-time
Customer card funding	`CustomerDepositsCurrent`	$25.96M	USD	Point-in-time
Customer card funding	`CustomerDepositsCurrent`	$32.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$34.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$27.29M	USD	Point-in-time
Common stock; $0.001 par value; 150,000,000 shares authorized, 48,577,712 and 46,440,765 issued and outstanding at December 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, 48,577,712 and 46,440,765 issued and outstanding at December 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$48.58K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.58M	USD	Point-in-time
Treasury stock at cost, 303,450 and 303,450 shares, December 31, 2019 and December 31, 2018, respectively	`TreasuryStockValue`	$150.00K	USD	Point-in-time
Treasury stock at cost, 303,450 and 303,450 shares, December 31, 2019 and December 31, 2018, respectively	`TreasuryStockValue`	$150.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$579.58K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.09M	USD	Point-in-time
Total Paysign, Inc.'s stockholders' equity	`StockholdersEquity`	$9.10M	USD	Point-in-time
Total Paysign, Inc.'s stockholders' equity	`StockholdersEquity`	$19.56M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-263.09K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-206.93K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.84M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$19.30M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$36.18M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$53.55M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$23.42M	USD	Annual
Revenues	`Revenues`	$34.67M	USD	Annual
Cost of revenues	`CostOfRevenue`	$15.43M	USD	Annual
Cost of revenues	`CostOfRevenue`	$12.03M	USD	Annual
Gross profit	`GrossProfit`	$19.24M	USD	Annual
Gross profit	`GrossProfit`	$11.40M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.84M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$11.66M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.48M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.09M	USD	Annual
Total operating expenses	`OperatingExpenses`	$8.92M	USD	Annual
Total operating expenses	`OperatingExpenses`	$13.14M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$2.47M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$6.10M	USD	Annual
Other expense	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Other expense	`OtherNonoperatingIncomeExpense`	$-31.12K	USD	Annual
Interest income	`InterestAndOtherIncome`	$441.12K	USD	Annual
Interest income	`InterestAndOtherIncome`	$139.74K	USD	Annual
Total other income, net	`NonoperatingIncomeExpense`	$108.61K	USD	Annual
Total other income, net	`NonoperatingIncomeExpense`	$441.12K	USD	Annual
Income before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.58M	USD	Annual
Income before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.54M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-909.98K	USD	Annual
Net income	`ProfitLoss`	$7.45M	USD	Annual
Net income	`ProfitLoss`	$2.58M	USD	Annual
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-1.57K	USD	Annual
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-6.81K	USD	Annual
Net income attributable to Paysign, Inc.	`NetIncomeLoss`	$7.45M	USD	Annual
Net income attributable to Paysign, Inc.	`NetIncomeLoss`	$2.59M	USD	Annual
Net income per common share - basic	`EarningsPerShareBasic`	$0.06	USD	Annual
Net income per common share - basic	`EarningsPerShareBasic`	$0.16	USD	Annual
Net income per common share - fully diluted	`EarningsPerShareDiluted`	$0.05	USD	Annual
Net income per common share - fully diluted	`EarningsPerShareDiluted`	$0.14	USD	Annual
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	47.44M	shares	Annual
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	45.45M	shares	Annual
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.99M	shares	Annual
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	54.55M	shares	Annual

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.59M	USD	Annual
Net income	`NetIncomeLoss`	$7.45M	USD	Annual
Change in noncontrolling interest	`MinorityInterestPeriodIncreaseDecrease`	$-1.57K	USD	Annual
Change in noncontrolling interest	`MinorityInterestPeriodIncreaseDecrease`	$-6.81K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$1.37M	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$2.53M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.09M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.48M	USD	Annual
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$909.98K	USD	Annual
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	Annual
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$554.63K	USD	Annual
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$171.78K	USD	Annual
Change in prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$245.47K	USD	Annual
Change in prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$596.90K	USD	Annual
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$182.41K	USD	Annual
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$196.11K	USD	Annual
Change in customer card funding	`IncreaseDecreaseInContractWithCustomerLiability`	$11.54M	USD	Annual
Change in customer card funding	`IncreaseDecreaseInContractWithCustomerLiability`	$6.76M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$16.00M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$16.71M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$463.71K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$257.06K	USD	Annual
Increase in intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.34M	USD	Annual
Increase in intangible assets	`PaymentsToAcquireIntangibleAssets`	$2.77M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.59M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.24M	USD	Annual
Proceeds from exercise of stock options and warrants	`ProceedsFromExerciseOfStockOptionsAndWarrants`	$100.00K	USD	Annual
Proceeds from exercise of stock options and warrants	`ProceedsFromExerciseOfStockOptionsAndWarrants`	$430.92K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$430.92K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$100.00K	USD	Annual
Net change in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$14.50M	USD	Annual
Net change in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$13.91M	USD	Annual
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.16M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$45.57M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.67M	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`	$45.57M	USD	Point-in-time
Cash and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.67M	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	Annual
Interest paid	`InterestPaidNet`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	$7.50K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.89M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.84M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$19.30M	USD	Point-in-time
Issuance of stock for services, value	`StockIssuedDuringPeriodValueIssuedForServices`	$144.01K	USD	Annual
Exercise of stock warrants, value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$100.00K	USD	Annual
Issuance of stock for stock based compensation, value	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	Annual
Issuance of stock for stock based compensation, value	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.53M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.22M	USD	Annual
Exercise of stock options, value	`StockIssuedDuringPeriodValueStockOptionsExercised`	$430.92K	USD	Annual
Dissolution and amalgamation of Qfour,Inc. subsidiary	`StockholdersEquityChangeInReportingEntity`	-	USD	Annual
Net income (loss)	`ProfitLoss`	$7.45M	USD	Annual
Net income (loss)	`ProfitLoss`	$2.58M	USD	Annual
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.89M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.84M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$19.30M	USD	Point-in-time

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