MTBC, Inc. MTBC Balance Sheet

Mtbc, inc. (MTBC)

Balance Sheet / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Dec'13
ASSETS
CURRENT ASSETS:
Cash
8,395	19,994	13,987	-	12,526	14,472	1,259	11,722	3,541	4,362	2,789	5,810	1,249	3,476	7,110	6,618	7,367	8,039	1,613	632	1,185	1,048	2,493	-	497
Cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	32	-
Accounts receivable - net of allowance for doubtful accounts of $505,000 and $256,000 at and , respectively
9,315	6,995	7,900	-	7,807	7,331	8,443	3,437	3,776	3,879	3,535	3,479	3,917	4,330	2,136	2,156	2,427	2,211	2,384	2,636	2,933	3,007	3,050	789	1,009
Contract asset
2,884	2,385	2,696	2,473	2,356	2,608	2,480	1,669	1,389	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory
486	491	375	-	364	444	456	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current assets - related party
13	13	13	-	13	25	25	25	25	25	25	25	13	13	24	24	24	13	24	24	24	24	13	25	23
Prepaid expenses and other current assets
2,310	1,123	1,092	-	907	1,191	1,112	1,730	721	662	758	529	531	618	658	452	547	621	742	-	-	504	-	-	-
Prepaid expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	178	320	-	351	-	49
Other current assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	202	267	-	516	258	165
Deferred income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	362	41
Total current assets
23,405	31,002	26,064	-	23,975	26,073	13,777	18,585	9,454	8,929	7,109	9,844	5,712	8,439	9,930	9,252	10,366	10,886	4,765	3,673	4,731	4,584	6,425	1,467	1,787
Property and equipment - net
3,447	2,907	2,039	-	2,148	1,832	1,869	1,388	1,339	1,385	1,424	1,478	1,526	1,588	1,401	1,446	1,432	1,372	1,447	1,450	1,427	1,444	1,001	519	505
Operating lease right-of-use assets
6,430	3,526	4,261	4,860	4,031	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible assets - net
17,337	5,977	6,165	-	6,083	6,634	7,180	1,702	2,091	2,509	2,997	-	-	5,833	-	-	-	-	-	-	-	-	-	-	-
Intangible assets - net
-	-	-	-	-	-	-	-	-	-	-	3,330	4,569	-	3,929	4,660	5,440	5,379	5,978	6,289	7,315	8,377	9,990	1,107	1,534
Goodwill
38,351	12,633	12,633	-	12,593	12,593	12,681	12,263	12,263	12,263	12,263	12,178	12,178	12,178	9,473	9,430	9,515	8,971	8,980	8,560	8,560	8,560	7,977	344	344
Other assets
860	356	392	-	469	489	553	424	469	436	152	93	384	282	97	182	146	66	409	179	162	140	46	2,107	1,600
TOTAL ASSETS
89,832	56,403	51,557	-	49,301	47,623	36,061	34,364	25,619	25,525	23,947	26,925	24,372	28,323	24,832	24,973	26,901	26,676	21,581	20,153	22,197	23,107	25,440	5,545	5,772
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable
6,762	3,490	2,904	-	2,066	2,438	2,711	590	730	991	1,017	1,482	1,756	1,905	592	548	674	370	758	664	694	1,082	1,139	363	200
Accrued compensation
1,900	1,836	1,999	-	-	1,731	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued compensation
-	-	-	-	1,651	-	1,866	1,033	960	1,137	848	1,086	1,692	2,009	587	686	598	627	546	737	597	836	872	-	262
Accrued expenses
3,024	2,111	2,450	-	2,063	1,589	1,389	922	828	616	758	1,043	1,306	1,236	564	493	504	650	768	935	1,257	1,113	805	709	422
Accrued IPO costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	775	430
Deferred rent (current portion)
-	-	-	-	-	90	94	88	85	81	79	74	62	61	56	50	44	37	31	22	18	12	6	1	11
Operating lease liability (current portion)
2,824	1,688	1,962	2,077	1,681	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue (current portion)
23	20	16	-	21	25	-	-	-	62	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue (current portion)
-	-	-	-	-	-	30	27	41	-	52	39	26	41	54	83	62	73	85	24	25	37	41	42	56
Accrued liability to related party
0	0	0	-	10	10	10	10	10	10	16	10	16	16	10	10	10	10	39	38	134	153	127	148	93
Notes payable (current portion)
183	283	383	-	185	277	-	-	-	168	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings under line of credit
-	-	-	-	-	-	-	-	-	-	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	3,000	3,000	1,215	1,200	1,215	1,015
Note payable - related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	470	470	470	-	0
Current portion of long-term debt
-	-	-	-	-	-	-	-	-	-	0	2,207	2,666	2,666	2,666	2,000	1,333	500	-	-	-	0	-	-	-
Notes payable - other (current portion)
-	-	-	-	-	-	375	81	89	-	246	5,075	5,099	5,181	380	221	388	582	291	130	346	596	839	669	916
Contingent consideration
1,050	-	-	-	307	526	560	563	503	505	537	479	506	535	541	652	988	746	2,025	1,843	1,930	2,626	4,193	-	0
Dividend payable
2,407	1,745	1,586	-	1,486	1,468	1,056	1,056	767	747	638	422	202	202	202	159	159	159	-	-	-	0	-	-	-
Total current liabilities
18,177	11,177	11,303	-	9,474	8,157	8,094	4,374	4,017	4,322	6,195	13,922	15,337	15,857	7,657	6,905	6,764	5,758	6,546	7,396	8,475	8,144	9,697	3,926	3,408
Long - term debt, net of discount and debt issuance costs
-	-	-	-	-	-	-	-	-	-	0	448	3,422	4,033	4,645	5,334	5,952	4,836	3,393	-	-	0	-	-	-
Note payable - related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	470	-	-	-	-	-
Note payable - related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	735	735
Notes payable - other
-	-	-	-	-	-	264	140	106	-	137	155	149	166	161	179	114	66	68	64	43	48	28	109	425
Note payable - convertible note
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	495	472
Notes payable
44	83	121	-	201	222	-	-	-	120	-	-	-	-	-	-	-	-	-	-	-	-	28	1,340	1,633
Borrowings under line of credit
9,750	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
OTHER LONG-TERM LIABILITIES
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	40	38
Deferred rent
-	-	-	-	-	189	231	255	295	333	371	395	416	433	445	460	476	490	504	524	536	551	543	567	519
Operating lease liability
4,208	2,040	2,501	2,876	2,482	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
195	18	16	-	19	18	-	-	-	28	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred tax liability
259	244	-	-	-	164	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-	-	-	-	-	-	19	28	27	-	30	29	27	26	21	27	33	36	34	38	41	42	43	46	54
Contingent consideration
-	-	-	-	-	-	0	0	84	97	131	236	387	394	547	470	533	425	452	-	-	0	-	-	-
Deferred tax liability
-	-	198	-	108	-	185	450	410	372	510	455	399	345	286	244	207	171	-	-	-	0	-	-	-
Total liabilities
32,635	13,565	14,140	-	12,287	8,753	8,794	5,248	4,942	5,275	7,377	15,642	20,139	21,256	13,766	13,623	14,083	11,784	10,999	8,493	9,097	8,786	10,313	5,920	5,654
COMMITMENTS AND CONTINGENCIES (NOTE 8)
-	-	-	-	-	-	0	-	0	-	0	0	-	-	0	0	0	-	0	0	0	0	0	0	0
SHAREHOLDERS' EQUITY:
Preferred stock, $0.001 par value - authorized 7,000,000 shares at March 31, 2020 and December 31, 2019; issued and outstanding 3,328,195 and 2,539,325 shares at March 31, 2020 and December 31, 2019, respectively
3	2	2	-	2	2	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	-	-	0
Common stock, $0.001 par value - authorized 29,000,000 shares at March 31, 2020 and December 31, 2019; issued 13,108,092 and 12,978,485 shares at March 31, 2020 and December 31, 2019, respectively; 12,367,293 and 12,237,686 shares outstanding at March 31, 2020 and December 31, 2019, respectively
13	12	12	-	12	12	12	12	12	12	12	12	10	10	10	10	10	10	9	9	9	9	9	5	5
Additional paid-in capital
86,853	69,403	64,743	-	63,372	65,142	52,518	52,710	44,239	45,129	40,985	34,684	25,954	26,038	26,025	-	-	24,549	-	-	-	-	-	-	-
Additional paid-in capital
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24,820	24,867	-	19,283	19,059	18,966	18,979	18,858	313	251
Accumulated deficit
-27,577	-25,075	-25,407	-	-24,499	-24,203	-23,627	-21,794	-21,990	-23,509	-23,325	-22,345	-20,652	-17,944	-13,920	-12,425	-11,131	-9,147	-8,346	-7,113	-5,626	-4,460	-3,464	-623	49
Accumulated other comprehensive loss
-1,433	-843	-1,272	-	-1,211	-1,421	-976	-1,151	-924	-721	-440	-406	-418	-376	-386	-388	-379	-398	-364	-296	-249	-208	-276	-70	-187
Less: 740,799 common shares held in treasury, at cost at March 31, 2020 and December 31, 2019
662	662	662	-	662	662	662	662	662	662	662	662	662	662	663	668	549	122	-	-	-	0	-	-	-
Total shareholders' equity
57,196	42,838	37,416	34,409	37,014	38,870	27,266	29,115	20,676	20,250	16,570	11,282	4,232	7,066	11,066	11,349	12,818	14,891	10,582	11,659	13,100	14,320	15,127	-375	118
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
89,832	56,403	51,557	-	49,301	47,623	36,061	34,364	25,619	25,525	23,947	26,925	24,372	28,323	24,832	24,973	26,901	26,676	21,581	20,153	22,197	23,107	25,440	5,545	5,772
Unaudited [Member]
Cash
-	-	-	10,583	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable - net of allowance for doubtful accounts of $194,000 and $189,000 at June 30, 2019 and December 31, 2018, respectively
-	-	-	7,518	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contract asset
-	-	-	2,473	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory
-	-	-	402	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current assets - related party
-	-	-	13	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other current assets
-	-	-	843	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current assets
-	-	-	21,834	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment - net
-	-	-	2,031	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease right-of-use assets
-	-	-	4,860	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible assets - net
-	-	-	6,507	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill
-	-	-	12,633	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
-	-	-	412	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
TOTAL ASSETS
-	-	-	48,279	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-	-	-	2,442	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued compensation
-	-	-	2,181	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued expenses
-	-	-	2,031	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease liability (current portion)
-	-	-	2,077	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue (current portion)
-	-	-	16	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued liability to related party
-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Notes payable (current portion)
-	-	-	152	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contingent consideration
-	-	-	279	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend payable
-	-	-	1,486	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current liabilities
-	-	-	10,667	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Notes payable
-	-	-	158	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease liability
-	-	-	2,876	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-	-	-	18	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred tax liability
-	-	-	149	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total liabilities
-	-	-	13,870	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock, $0.001 par value - authorized 7,000,000 and 4,000,000 shares at June 30, 2019 and December 31, 2018, respectively; issued and outstanding 2,162,449 and 2,136,289 shares at June 30, 2019 and December 31, 2018, respectively
-	-	-	2	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock, $0.001 par value - authorized 29,000,000 and 19,000,000 shares at June 30, 2019 and December 31, 2018, respectively; issued 12,769,041 and 12,570,557 shares at June 30, 2019 and December 31, 2018, respectively; outstanding, 12,028,242 and 11,829,758 shares at June 30, 2019 and December 31, 2018, respectively
-	-	-	12	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additional paid-in capital
-	-	-	62,300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accumulated deficit
-	-	-	-25,270	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accumulated other comprehensive loss
-	-	-	-1,974	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: 740,799 common shares held in treasury, at cost at June 30, 2019 and December 31, 2018
-	-	-	662	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total shareholders' equity
-	-	-	34,409	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
-	-	-	48,279	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-