Flexshopper, inc. (FPAY)
Balance Sheet / Yearly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Dec'10
ASSETS
CURRENT ASSETS:
Cash

5,454

6,868

3,172

2,791

2,647

6,141

7,282

2,055

1,798

4,968

3,825

5,533

5,137

5,412

13,093

17,815

1,641

3,396

4,667

7,789

10,181

2,883

4,499

4,692

962

960

1,261

745

697

610

1,416

820

523

306

83

248

163

Accounts receivable, net

8,459

8,272

7,976

6,897

6,510

6,375

4,815

4,104

3,774

4,259

3,394

2,391

2,120

2,181

1,382

1,081

851

752

366

413

168

128

25

19

12

0

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses

760

672

609

517

335

317

182

382

682

321

348

472

492

361

329

557

374

237

328

173

177

112

156

152

122

50

-

-

-

-

-

-

-

-

-

-

-

Retained interest in purchased accounts receivable, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,472

7,057

7,517

7,019

6,370

9,344

7,188

6,331

5,967

6,127

7,641

Due from clients

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

509

229

372

0

-

-

-

-

-

-

-

Earned but uncollected fee income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

107

211

174

168

134

202

135

157

125

153

203

Prepaid expenses and other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

70

80

96

100

71

75

72

70

98

78

100

Lease merchandise, net

29,898

31,063

24,341

24,425

28,181

32,364

18,326

17,806

18,955

21,415

11,151

13,515

16,135

18,570

10,801

9,494

9,538

11,204

5,858

5,053

4,032

4,241

2,572

1,619

652

8

-

-

-

0

-

-

-

-

-

-

-

Assets of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

6

30

140

5,588

5,363

-

-

-

-

-

-

-

-

-

-

-

Total current assets

44,573

46,876

36,100

34,631

37,674

45,199

30,606

24,349

25,210

30,964

18,720

21,913

23,885

26,526

25,606

28,949

12,405

15,589

11,221

13,430

14,560

7,372

7,285

6,624

7,337

6,382

6,421

8,325

8,857

7,899

7,993

10,442

7,920

6,865

6,274

6,607

8,108

PROPERTY AND EQUIPMENT, net

5,414

5,260

5,271

5,266

3,497

3,336

3,313

3,073

2,820

2,948

2,848

2,755

2,647

2,540

2,458

2,234

1,979

1,797

1,684

1,369

1,169

1,051

164

132

83

58

57

14

23

14

16

11

14

17

21

13

18

Intangible assets, net

-

-

-

-

-

-

-

-

-

-

18

18

19

-

21

21

22

23

-

-

-

26

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Intangible assets - patent costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

24

24

25

-

-

-

-

30

-

-

-

-

-

-

-

-

-

-

-

Intangible assets - patent costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30

30

30

-

20

20

-

0

-

-

-

-

-

-

-

Security deposits

-

-

-

-

-

-

-

-

-

-

78

74

74

-

66

66

65

66

66

55

55

55

57

57

57

9

11

6

6

6

5

5

5

5

5

5

5

OTHER ASSETS, net

74

78

86

129

149

90

91

94

94

95

96

92

93

88

88

88

88

90

90

79

80

81

88

88

88

40

31

26

-

6

-

-

-

-

-

-

-

Total assets

50,063

52,214

41,458

40,027

41,321

48,626

34,010

27,517

28,126

34,008

21,666

24,762

26,627

29,155

28,153

31,272

14,472

17,477

12,996

14,879

15,811

8,505

7,538

6,844

7,508

6,480

6,510

8,366

8,887

7,919

8,015

10,458

7,940

6,888

6,301

6,626

8,133

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Due to financial institution

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,693

5,424

5,966

4,977

5,192

6,686

5,413

4,427

3,845

4,232

5,607

Due to participant

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

683

-

-

-

-

-

Promissory notes payable - related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

400

-

-

-

-

-

Accounts payable

3,161

4,567

2,660

2,571

3,105

8,317

5,928

4,513

4,997

7,702

2,729

2,580

2,334

3,917

2,585

3,148

1,966

1,783

1,058

1,369

989

836

164

389

353

20

121

59

46

86

50

62

73

45

56

53

58

Due to Lender

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

290

Accrued payroll and related taxes

293

513

232

364

195

393

225

365

175

404

148

271

118

296

124

280

115

251

301

205

219

131

169

117

128

68

59

49

55

69

51

53

58

60

53

49

55

Loan payable under credit agreement to beneficial shareholder, net of $16,244 at 2020 of unamortized issuance costs

2,294

-

-

-

18,372

14,252

8,116

14,402

9,741

14,094

4,111

2,401

-

0

2,932

1,153

1,000

-

0

0

0

1,000

-

-

150

0

-

-

-

-

-

-

-

-

-

-

-

Promissory notes to related parties, net of $1,333 at 2020 and $5,333 at 2019 of unamortized issuance costs, including accrued interest

1,212

1,067

1,062

1,053

3,762

1,814

1,750

3,500

3,479

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses

1,600

1,372

886

799

1,012

1,335

858

767

782

786

303

339

405

259

397

378

783

487

260

279

204

197

127

116

31

3

90

25

33

59

70

33

33

29

39

32

73

Lease liability - current portion

129

27

121

224

94

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Liabilities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

7

140

396

4,502

3,331

-

-

-

-

-

-

-

-

-

-

-

Collected but unearned fee income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17

21

29

28

22

31

32

36

42

57

39

Total current liabilities

8,692

7,549

4,963

5,014

26,543

26,113

16,879

23,549

19,175

22,986

7,293

5,592

2,857

4,473

6,040

4,959

3,865

2,522

1,619

1,853

1,413

2,173

602

1,019

5,165

3,424

3,982

5,581

6,131

5,221

5,387

7,950

5,610

4,600

4,037

4,425

6,124

Loan payable under credit agreement to beneficial shareholder, net of $178,687 at 2020 and $281,138 at 2019 of unamortized issuance costs and current portion

25,243

28,904

20,233

20,480

4,530

14,020

6,087

1,309

4,863

4,698

4,111

7,203

10,275

10,156

4,105

5,766

7,032

8,786

1,790

1,319

897

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Promissory notes to related parties, net of $20,690 at 2020 and $24,828 at 2019 of unamortized issuance costs and current portion

3,729

3,725

3,721

3,716

1,164

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease liabilities less current portion

2,031

2,067

1,913

1,734

37

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total liabilities

39,696

42,246

30,830

30,946

32,275

40,133

22,967

24,858

24,039

27,684

11,405

12,796

13,132

14,629

10,145

10,726

10,897

11,309

3,410

3,173

2,311

2,173

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

COMMITMENTS (Note 10)

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

0

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

-

0

STOCKHOLDERS' EQUITY
Preferred Stock authorized 500,000 shares, $0.001 par value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

671

671

-

Series 1 Convertible Preferred Stock, $0.001 par value - authorized 250,000 shares, issued and outstanding 171,191 shares at $5.00 stated value

-855

-855

-855

-855

-855

-1,197

-1,197

1,197

-1,197

-1,197

-1,215

-1,215

-1,215

1,215

-1,215

-1,640

-

-1,640

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Series 2 Convertible Preferred Stock, $0.001 par value - authorized 25,000 shares, issued and outstanding 21,952 shares at $1,000 stated value

-21,952

-21,952

-21,952

-21,952

-21,952

-21,952

-21,952

21,952

-21,952

-21,952

-21,952

-21,952

-21,952

21,952

-21,952

-21,952

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Preferred stock, $0.001 par value- authorized 10,000,000, shares issued and outstanding 328,197 shares in 2016 and 2015 at $5.00 stated value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,640

-

1,695

1,695

1,711

1,711

610

671

671

1,881

671

671

671

671

671

671

671

671

-

-

671

Common stock, $0.0001 par value- authorized 40,000,000 shares, issued and outstanding 21,351,643 shares at 2020 and 17,783,960 shares at 2019

2

1

1

1

1

1

1

0

0

0

0

0

0

0

0

5

5

0

5

5

5

3

3

2

2

2

1

1

1

1

1

1

1

1

-

-

1

COMMON STOCK

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

1

-

Additional paid in capital

35,660

35,313

34,969

34,810

34,465

34,074

34,142

23,041

22,495

22,445

22,378

22,355

22,321

22,298

22,286

21,781

23,229

23,213

23,133

23,103

23,073

14,513

15,335

12,935

8,781

7,337

7,553

7,545

7,500

7,496

7,488

7,480

7,470

7,465

7,464

7,463

7,461

Accumulated deficit

-48,103

-48,155

-47,151

-48,538

-48,229

-48,732

-46,249

-43,532

-41,557

-39,271

-35,285

-33,558

-31,995

-30,940

-27,446

-24,833

-21,300

-18,686

-15,247

-13,098

-11,289

-9,895

-9,012

-7,785

-7,112

-6,165

-5,699

-5,434

-5,418

-5,471

-5,534

-5,645

-5,813

-5,850

-5,873

-5,935

-6,125

Total stockholders' equity

10,367

9,968

10,628

9,081

9,046

8,492

11,043

2,658

4,087

6,323

10,260

11,965

13,494

14,525

18,007

20,546

3,574

6,167

9,586

11,706

13,499

6,332

6,936

5,824

2,343

3,056

2,527

2,785

2,755

2,698

-

-

-

2,288

-

-

-

Total Stockholders' Equity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,627

2,508

2,329

-

2,263

2,200

2,009

Total liabilities and stockholders' equity

50,063

52,214

41,458

40,027

41,321

48,626

34,010

27,517

28,126

34,008

21,666

24,762

26,627

29,155

28,153

31,272

14,472

17,477

12,996

14,879

15,811

8,505

7,538

6,844

7,508

6,480

6,510

8,366

8,887

7,919

8,015

10,458

7,940

6,888

6,301

6,626

8,133