10-Q Filing

PAYSIGN, INC. CIK: 1496443 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001683168-20-001458`
Period End Date	20200331
Filing Date	20200508
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	pays-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 36 Cash Flow Statement 44 Stockholders Equity 13

Balance Sheet 66 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
Common stock, shares issued	`CommonStockSharesIssued`	49.02M	shares	Point-in-time
Cash	`Cash`	$9.66M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	48.58M	shares	Point-in-time
Cash	`Cash`	$5.21M	USD	Point-in-time
Cash	`Cash`	$9.42M	USD	Point-in-time
Restricted Cash	`RestrictedCash`	$45.93M	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`	49.02M	shares	Point-in-time
Restricted Cash	`RestrictedCash`	$45.42M	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$911.60K	USD	Point-in-time
Treasury stock shares	`TreasuryStockShares`	303,450.00	shares	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
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.38M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$57.14M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$47.88M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$1.80M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$937.18K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.82M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.95M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$917.48K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsNetNoncurrent`	$993.38K	USD	Point-in-time
Total assets	`Assets`	$53.55M	USD	Point-in-time
Total assets	`Assets`	$63.88M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.52M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.00M	USD	Point-in-time
Customer card funding	`ContractWithCustomerLiabilityCurrent`	$40.29M	USD	Point-in-time
Customer card funding	`ContractWithCustomerLiabilityCurrent`	$32.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$42.29M	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`	$42.29M	USD	Point-in-time
Preferred stock: $0.001 par value; 25,000,000 shares authorized; none issued and outstanding at March 31, 2020 and December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: $0.001 par value; 25,000,000 shares authorized; none issued and outstanding at March 31, 2020 and December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Common stock: $0.001 par value; 150,000,000 shares authorized, 49,016,270 and 48,577,712 issued at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$48.58K	USD	Point-in-time
Common stock: $0.001 par value; 150,000,000 shares authorized, 49,016,270 and 48,577,712 issued at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$49.02K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.58M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.06M	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`	$8.09M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.63M	USD	Point-in-time
Total Paysign, Inc.'s stockholders' equity	`StockholdersEquity`	$21.59M	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`	-	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.59M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$19.30M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.41M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$63.88M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$53.55M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$7.26M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$10.58M	USD	1 Quarter
Cost of revenues	`CostOfGoodsAndServicesSold`	$4.86M	USD	1 Quarter
Cost of revenues	`CostOfGoodsAndServicesSold`	$3.48M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.72M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.78M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.70M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.83M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$333.76K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$502.38K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.33M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.04M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$736.44K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.39M	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	$62.16K	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	$119.17K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$119.17K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$62.16K	USD	1 Quarter
Income before income tax benefit and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.45M	USD	1 Quarter
Income before income tax benefit and noncontrolling interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$855.62K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-15.49K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-87.55K	USD	1 Quarter
Net income before noncontrolling interest	`ProfitLoss`	$871.11K	USD	1 Quarter
Net income before noncontrolling interest	`ProfitLoss`	$1.54M	USD	1 Quarter
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	$-564.00	USD	1 Quarter
Net loss attributable to the noncontrolling interest	`IncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net income attributable to Paysign, Inc.	`NetIncomeLoss`	$871.67K	USD	1 Quarter
Net income attributable to Paysign, Inc.	`NetIncomeLoss`	$1.54M	USD	1 Quarter
Net income per common share - basic	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Net income per common share - basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Net income per common share - fully diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Net income per common share - fully diluted	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	49.96M	shares	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	48.71M	shares	1 Quarter
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	54.51M	shares	1 Quarter
Weighted average common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	54.69M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income attributable to Paysign, Inc.	`NetIncomeLoss`	$1.54M	USD	1 Quarter
Net income attributable to Paysign, Inc.	`NetIncomeLoss`	$871.67K	USD	1 Quarter
Change in noncontrolling interest	`MinorityInterestPeriodIncreaseDecrease`	$-564.00	USD	1 Quarter
Change in noncontrolling interest	`MinorityInterestPeriodIncreaseDecrease`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$333.76K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$502.38K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$646.71K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$724.18K	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$75.90K	USD	1 Quarter
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$19.66K	USD	1 Quarter
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$330.55K	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`	$-32.52K	USD	1 Quarter
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$475.44K	USD	1 Quarter
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-748.45K	USD	1 Quarter
Change in customer card funding	`IncreaseDecreaseInContractWithCustomerLiability`	$19.15M	USD	1 Quarter
Change in customer card funding	`IncreaseDecreaseInContractWithCustomerLiability`	$7.57M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.75M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$20.03M	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$953.89K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$195.46K	USD	1 Quarter
Increase in intangible assets	`PaymentsToAcquireIntangibleAssets`	$542.23K	USD	1 Quarter
Increase in intangible assets	`PaymentsToAcquireIntangibleAssets`	$363.95K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-559.41K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.50M	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$24.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net change in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$19.47M	USD	1 Quarter
Net change in cash and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$9.28M	USD	1 Quarter
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$54.85M	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`	$45.57M	USD	Point-in-time
Cash and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.14M	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`	$51.14M	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`	$54.85M	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 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.59M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.89M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$19.30M	USD	Point-in-time
Beginning balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.41M	USD	Point-in-time
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$646.71K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$724.18K	USD	1 Quarter
Exercise of stock options, value	`StockIssuedDuringPeriodValueStockOptionsExercised`	$24.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$871.11K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$1.54M	USD	1 Quarter
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.59M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$8.89M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$19.30M	USD	Point-in-time
Ending balance, value	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.41M	USD	Point-in-time

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