Fte networks, inc. (FTNW)
Balance Sheet / Quarterly
Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Sep'14Jun'12Mar'12Dec'11Sep'11Jun'11Sep'10
ASSETS
Current assets:
Cash

-

-

-

-

-

3,154

7,835

2

-

8

77

154

205

207

189

1

-

-

-

-

-

-

Restricted Cash

-

-

-

-

-

-

-

-

-

0

130

750

3,003

0

-

-

-

-

-

-

-

-

Cash and cash equivalents

12,170

5,722

12,884

9,638

15,642

-

-

-

1,412

-

-

-

-

-

-

-

75

893

2,087

861

694

246

Accounts receivable, net

74,048

75,812

72,693

78,251

61,699

51,791

36,707

9,984

7,020

7,025

4,099

2,700

1,446

1,215

2,312

1,904

2,030

2,985

3,576

3,752

3,289

4,535

Costs and estimated earnings in excess of billings on uncompleted contracts

5,974

-

-

-

5,286

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Costs and estimated earnings in excess of billings on uncompleted contracts

-

4,362

2,206

4,552

-

6,773

5,966

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Other current assets

3,994

6,416

8,814

9,782

6,283

7,727

6,736

3,649

2,833

2,829

2,336

2,521

2,047

2,052

781

654

-

-

-

-

-

-

Deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

75

0

-

-

-

-

-

-

Inventory, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

566

557

Prepaid expenses and other current assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,535

2,048

1,910

1,345

846

357

Current assets of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

133

Total current assets

96,186

92,312

96,597

102,223

88,910

69,445

57,244

13,636

11,265

9,863

6,642

6,127

6,702

3,475

3,283

2,560

3,640

5,926

7,573

5,958

5,395

5,828

Property and equipment, net

3,405

9,956

9,165

8,121

7,082

7,101

5,556

4,300

3,467

3,268

3,049

2,610

2,544

1,419

748

87

220

268

283

249

332

420

Intangible assets, net

19,692

20,937

23,190

25,443

27,696

26,306

29,320

-

0

-

-

-

-

-

-

-

650

2,776

2,841

2,905

2,818

3,011

Deferred financing costs, non-current portion

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

Goodwill

45,007

35,672

35,672

35,672

45,007

46,922

46,922

-

0

-

-

-

-

-

-

-

2,791

2,792

2,792

2,792

2,792

2,792

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

19

40

39

18

23

20

Total assets

164,290

158,877

164,624

171,459

168,695

149,774

139,042

17,936

14,732

13,132

9,692

8,738

9,246

4,894

4,107

2,647

7,320

11,802

13,528

11,922

11,360

12,071

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable

77,076

29,307

40,175

46,095

43,894

33,531

22,255

2,332

2,357

2,232

3,004

3,266

2,998

2,476

1,954

1,521

2,536

2,427

2,322

3,204

2,184

2,971

Billings in excess of costs and estimated earnings on uncompleted contracts

34,690

-

-

-

37,531

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contract liabilities

-

27,984

21,754

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Billings in excess of costs and estimated earnings on uncompleted contracts

-

-

-

18,516

-

7,378

15,380

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Due to related parties

17

56

89

28

-

343

154

190

100

418

410

330

245

183

85

0

-

-

-

-

-

-

Accrued expenses and other current liabilities

10,350

9,160

7,141

7,259

10,188

9,931

6,609

3,507

3,202

4,109

3,569

3,547

3,578

2,965

3,462

1,219

2,000

2,326

3,085

1,691

1,543

880

Note payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

300

-

-

-

-

Current portion of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

59

94

136

180

210

379

Senior note payable, current portion, net of original issue discount and deferred financing costs

34,322

31,122

28,661

-

-

-

19,951

5,081

-

-

-

-

6,846

0

-

-

3,550

4,196

4,185

2,952

2,905

0

Convertible notes payable, net of original issue discount and deferred financing costs

4,498

-

-

-

2,391

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Merchant credit agreements, net of original issue discount and deferred financing costs

2,102

-

-

-

4,239

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bridge note - related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

100

100

100

100

100

100

Notes payable and capital leases, current portion, net of original issue discount and deferred financing costs

3,260

17,474

14,343

10,182

3,669

14,022

12,012

5,430

-3,444

4,105

1,719

2,052

1,887

1,295

4,600

945

300

-

-

0

-

-

Factoring lines of credit

-

-

-

-

-

-

-

-

-

-

-

-

0

600

724

984

-

-

-

-

-

-

Notes payable, related parties, current

13,776

18,334

19,173

7,603

8,576

791

791

791

791

287

287

287

287

287

287

497

-

-

-

-

-

-

Debt derivative liabilities

8,038

-

-

-

48,195

303

-

-

594

-

-

-

-

-

-

-

-

-

-

-

-

-

Warrant derivative liabilities

3,558

-

-

-

16,492

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Warrant derivative liability

-

-

-

-

-

-

2,336

3,357

-

143

-

-

0

0

-

-

-

-

-

-

-

-

Accrued litigation costs

-

-

-

-

-

-

-

-

-

1,195

1,195

1,195

1,335

1,840

1,808

1,848

-

-

-

-

-

-

Accrued lease termination costs

-

-

-

-

-

-

-

-

-

-

-

-

0

113

240

406

-

-

-

-

-

-

Current liabilities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

8,558

Total current liabilities

191,687

133,437

131,336

89,683

175,175

66,299

59,537

15,609

10,488

12,492

10,188

10,680

10,333

9,762

13,162

7,424

8,545

9,443

9,828

8,127

6,942

12,888

Notes payable and capital leases, non-current portion, net of original issue discount and deferred financing costs

1,268

1,414

1,617

1,934

1,830

46,899

46,981

7,300

6,530

2,275

2,447

1,555

1,572

4,571

478

3,550

-

-

-

-

-

-

Notes payable, related parties, non-current, net of debt discount

29,153

28,463

27,775

39,523

38,530

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Senior note payable, non-current portion, net of original issue discount and deferred financing costs

-

0

0

26,408

23,405

20,022

-

-

7,576

7,244

7,316

7,090

-

-

-

-

-

-

-

-

-

-

Deferred tax liability

1,641

-

-

-

560

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued interest, non-current portion

-

-

-

-

-

-

-

-

-

-

-

-

0

1,686

-

1,153

-

-

-

-

-

-

Non-current line of credit - related party

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

630

Long-term debt, less current portion

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

24

59

403

Deferred tax liability

-

1,128

1,007

1,122

-

-

-

-

0

-

-

-

-

-

-

-

256

241

227

212

197

153

Total liabilities

223,749

164,442

161,735

158,670

239,500

133,220

126,469

27,991

24,596

22,012

19,951

19,326

18,751

16,020

13,640

12,127

8,801

9,684

10,055

8,363

7,198

14,074

Commitments and contingencies (Note 18)

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

-

0

-

-

Common stock; $0.001 par value, subject to put provision, 8,000,000 shares authorized and 444,475 shares issued and outstanding at September 30, 2017 and December 31, 2016

-

-

-

-

-

-

-

-

437

-

-

-

-

-

-

-

-

-

-

-

-

-

Total Temporary Equity

-

-

-

-

-

0

0

437

437

437

437

437

437

0

-

-

-

-

-

-

-

-

Stockholders' equity (deficit):
Preferred stock; $0.01 par value, 5,000,000 shares authorized:

-

-

-

-

-

0

-

-

0

-

-

-

-

-

-

-

0

-

-

0

-

0

Common stock, $0.001 par value, 100,000,000 shares authorized and 12,286,847 and 5,620,281 shares issued and outstanding at December 31, 2018 and 2017, respectively

12

8

7

6

6

5

130

88

3

67

61

46

2

2

45

39

38

38

38

38

37

37

Additional paid-in capital

113,881

71,421

67,677

57,792

56,979

45,625

43,011

17,483

11,575

7,489

4,575

3,023

3,053

2,565

2,770

930

39,024

38,840

38,593

38,342

38,128

37,137

Shares to be issued

1,280

0

0

6,681

250

75

2,201

615

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Common shares to be issued

-

-

-

-

-

-

-

-

-

848

-

-

-

-

-

-

-

-

-

-

-

-

Subscriptions receivable

-

2,941

2,769

3,222

-

3,588

4,656

-5,658

2,829

-1,716

-359

204

-204

-349

-549

660

-

-

-

-

-

-

Accumulated deficit

-174,632

-74,053

-62,026

-48,468

-128,040

-25,563

-28,113

-23,021

-19,050

-16,006

-14,974

-13,915

-12,815

-13,362

-11,817

-9,807

-42,587

-38,747

-37,179

-36,583

-35,749

-39,711

Accumulated other comprehensive income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

168

111

145

46

30

-507

Total stockholders' deficit

-59,459

-5,565

2,889

12,789

-70,805

16,554

12,573

-10,492

-10,301

-9,317

-10,696

-11,025

-9,941

-11,125

-9,533

-9,480

-1,481

2,118

3,473

3,559

4,162

-2,003

Total liabilities and stockholders' equity (deficit)

164,290

158,877

164,624

171,459

168,695

149,774

139,042

17,936

14,732

13,132

9,692

8,738

9,246

4,894

4,107

2,647

7,320

11,802

13,528

11,922

11,360

12,071