Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 01, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | ONVIA INC | ||
Entity Central Index Key | 1,100,917 | ||
Trading Symbol | onvi | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 7,212,848 | ||
Entity Public Float | $ 15,879,841 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 2,306,000 | $ 1,483,000 |
Short-term investments, available-for-sale | 4,817,000 | 5,275,000 |
Accounts receivable, net of allowance for doubtful accounts of $34 and $32 | 1,543,000 | 1,298,000 |
Prepaid expenses and other current assets | 1,035,000 | 1,075,000 |
Total current assets | 9,701,000 | 9,131,000 |
LONG TERM ASSETS: | ||
Property and equipment, net of accumulated depreciation | 844,000 | 1,036,000 |
Internal use software, net of accumulated amortization | 5,480,000 | 5,091,000 |
Other long-term assets | 263,000 | 260,000 |
Total long term assets | 6,587,000 | 6,387,000 |
TOTAL ASSETS | 16,288,000 | 15,518,000 |
CURRENT LIABILITIES: | ||
Accounts payable | 851,000 | 499,000 |
Accrued expenses | 1,534,000 | 937,000 |
Unearned revenue, current portion | 9,500,000 | 9,040,000 |
Other current liabilities | 134,000 | 103,000 |
Total current liabilities | 12,019,000 | 10,579,000 |
LONG TERM LIABILITIES: | ||
Unearned revenue, net of current portion | 41,000 | 64,000 |
Deferred rent, net of current portion | 529,000 | 575,000 |
Other long-term liabilities | 16,000 | 43,000 |
Total long term liabilities | 586,000 | 682,000 |
TOTAL LIABILITIES | 12,605,000 | 11,261,000 |
COMMITMENTS AND CONTINGENCIES (Note 10) | ||
STOCKHOLDERS’ EQUITY: | ||
Preferred stock; $.0001 par value: 2,000,000 shares authorized; no shares issued or outstanding | 0 | 0 |
Common stock; $.0001 par value: 11,000,000 shares authorized; 8,730,152 and 8,717,788 shares issued; and 7,137,848 and 7,125,484 shares outstanding | 1,000 | 1,000 |
Treasury stock, at cost: 1,592,304 and 1,592,304 shares | (5,446,259) | (5,446,000) |
Additional paid in capital | 354,448,000 | 354,212,000 |
Accumulated other comprehensive loss | (3,000) | |
Accumulated deficit | (345,320,000) | (344,507,000) |
Total stockholders’ equity | 3,683,000 | 4,257,000 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 16,288,000 | $ 15,518,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Allowance for doubtful accounts | $ 34 | $ 32 |
Preferred stock par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 2,000,000 | 2,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 11,000,000 | 11,000,000 |
Common stock, shares issued (in shares) | 8,730,152 | 8,717,788 |
Common stock, shares outstanding (in shares) | 7,137,848 | 7,125,484 |
Treasury stock, shares (in shares) | 1,592,304 | 1,592,304 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Subscription | $ 22,851 | $ 21,536 |
Content license | 1,357 | 1,705 |
Management information reports | 191 | 133 |
Other | 168 | 214 |
Total revenue | 24,567 | 23,588 |
Cost of revenue (exclusive of depreciation and amortization included below) | 2,878 | 3,186 |
Gross margin | 21,689 | 20,402 |
Operating expenses: | ||
Sales and marketing | 12,060 | 11,108 |
Technology and development | 6,349 | 5,845 |
General and administrative | 4,131 | 3,953 |
Total operating expenses | 22,540 | 20,906 |
Loss from operations | (851) | (504) |
Interest and other income, net | 38 | 18 |
Net loss | (813) | (486) |
Unrealized loss on available-for-sale securities | 3 | (2) |
Comprehensive loss | $ (810) | $ (488) |
Basic and diluted net loss per common share (in dollars per share) | $ (0.11) | $ (0.07) |
Basic and diluted weighted average shares outstanding (in shares) | 7,130 | 7,421 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (813,000) | $ (486,000) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation and amortization | 2,536,000 | 2,322,000 |
Gain/Loss on sale of property and equipment | (4,000) | 19,000 |
Stock-based compensation | 198,000 | 121,000 |
Change in operating assets and liabilities: | ||
Accounts receivable | (245,000) | 437,000 |
Prepaid expenses and other assets | 37,000 | (471,000) |
Accounts payable | 99,000 | (247,000) |
Accrued expenses | 597,000 | (161,000) |
Unearned revenue | 437,000 | 220,000 |
Deferred rent | (16,000) | 4,000 |
Net cash provided by operating activities | 2,826,000 | 1,758,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Additions to property and equipment | (321,000) | (408,000) |
Additions to internal use software | (2,185,000) | (1,802,000) |
Purchases of investments | (6,995,000) | (9,120,000) |
Sales of investments | 252,000 | 1,665,000 |
Maturities of investments | 7,204,000 | 8,614,000 |
Proceeds from sale of equipment | 4,000 | 8,000 |
Net cash used in investing activities | (2,041,000) | (1,043,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Repurchase of stock | (1,048,000) | |
Proceeds from exercise of stock options and purchases under employee stock purchase plan | 38,000 | 239,000 |
Net cash (used in ) / provided by financing activities | 38,000 | (809,000) |
Net increase/(decrease) in cash and cash equivalents | 823,000 | (94,000) |
Cash and cash equivalents, beginning of period | 1,483,000 | 1,577,000 |
Cash and cash equivalents, end of period | 2,306,000 | 1,483,000 |
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Property and equipment additions in accounts payable | (37,000) | |
Internal use software additions in accounts payable | $ (274,000) | $ (58,000) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
BALANCE (in shares) at Dec. 31, 2014 | 7,400,653 | 1,242,807 | ||||
BALANCE at Dec. 31, 2014 | $ 1 | $ (4,398) | $ 353,852 | $ (1) | $ (344,021) | $ 5,433 |
Exercise of stock options (in shares) | 64,877 | 64,877 | ||||
Exercise of stock options | 206 | $ 206 | ||||
Purchases under Employee Stock Purchase Plan (in shares) | 9,451 | |||||
Purchases under Employee Stock Purchase Plan | 33 | 33 | ||||
Stock-based compensation | 121 | 121 | ||||
Stock repurchase (in shares) | (349,497) | 349,497 | ||||
Stock repurchase | $ (1,048) | (1,048) | ||||
Unrealized gain/(loss) on available-for-sale investments | (2) | (2) | ||||
Net loss | (486) | (486) | ||||
BALANCE (in shares) at Dec. 31, 2015 | 7,125,484 | 1,592,304 | ||||
BALANCE at Dec. 31, 2015 | $ 1 | $ (5,446) | 354,212 | (3) | (344,507) | $ 4,257 |
Exercise of stock options (in shares) | 1,000 | 1,000 | ||||
Exercise of stock options | 3 | $ 3 | ||||
Purchases under Employee Stock Purchase Plan (in shares) | 11,364 | |||||
Purchases under Employee Stock Purchase Plan | 35 | 35 | ||||
Stock-based compensation | 198 | $ 198 | ||||
Stock repurchase (in shares) | (349,497) | |||||
Unrealized gain/(loss) on available-for-sale investments | 3 | $ 3 | ||||
Net loss | (813) | (813) | ||||
BALANCE (in shares) at Dec. 31, 2016 | 7,137,848 | 1,592,304 | ||||
BALANCE at Dec. 31, 2016 | $ 1 | $ (5,446) | $ 354,448 | $ 0 | $ (345,320) | $ 3,683 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1: Description of business Onvia (“Onvia” or the “Company”) Onvia is a leading commerce intelligence company at the core of B2G Reclassifications Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations. Onvia’s Product team was previously developing both internal sales tools and the external B2G B2G $1.7 twelve December 31, 2015 Basis of consolidation Onvia had a wholly-owned subsidiary in Canada that was dissolved effective December 19, 2014; December 31, 2014. Use of estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires the Company’s management to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the fair value of stock-based compensation, allowance for doubtful accounts, recoverability of long-lived assets, and the valuation allowance for net deferred tax assets. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances. Actual results may During 2016, 7 Revenue recognition Onvia’s revenues are primarily generated from client subscriptions, content licenses and management reports. Onvia’s subscriptions are generally annual contracts; however, the Company also offers extended multi-year contracts to its subscription clients, and content licenses are generally multi-year agreements. Subscription fees and content licenses are recognized ratably over the term of the agreement. Onvia also generates revenue from fees charged for management reports, document download services, and other services; revenue from these types of services is recognized upon delivery, or, if report refreshes are included, ratably over the service period. Onvia’s subscription services and management reports are also sold together as a bundled offering. The Company allocates revenue from these bundled sales ratably between the subscription services and the management reports based on established list prices for those offerings. The Company measures and allocates arrangement consideration to one Unearned revenue consists of payments received for prepaid subscriptions, as well as the invoiced, but unpaid, portion of subscriptions and content licenses whose terms extend into periods beyond the balance sheet date. Fair value of financial instruments Onvia’s financial instruments consist of cash and cash equivalents, short-term investments, accounts receivable, security deposits, accounts payable, and accrued liabilities. The carrying amounts of the current portion of the financial instruments approximate fair value due to their short maturities. The carrying value of the long-term portion of security deposits approximates fair value as the interest rate is at market value. All investments, when held, are classified as available-for-sale and are reported at fair value based on market quotes, and unrealized gains or losses on these investments are recorded in stockholders’ equity and reported in comprehensive income. Cash, cash equivalents and investments Onvia considers all highly liquid instruments with maturities at purchase of 90 December 31, 2016 2015, 90 one 365 Management of credit risk Onvia is subject to concentration of credit risk, primarily from its investments and customer contracts. Onvia manages its credit risk for investments by purchasing investment-grade securities and diversifying its investment portfolio among issuers and maturities. Currently, the Company invests primarily in FDIC insured or government backed funds and securities to mitigate the credit risk associated with its investment portfolio. The Company manages credit risks on customer contracts by adhering to common underwriting practices. Property and equipment Equipment and leasehold improvements are stated at cost, net of accumulated depreciation. Depreciation expense on software, furniture, and equipment is recorded using the straight-line method over estimated useful lives of three five The Company periodically evaluates its long-lived assets for impairment. An impairment loss would be recognized for assets to be disposed of or held-for-use when the carrying amount of an asset is deemed to not be recoverable. If events or circumstances indicate that any of the Company’s long-lived assets might be impaired, the Company analyzes the estimated undiscounted future cash flows to be generated from the applicable asset. In addition, the Company records an impairment loss to the extent that the carrying value of the asset exceeds the fair value of the asset. Fair value is generally determined using an estimate of discounted future net cash flows from operating activities or upon disposal of the asset. No December 31, 2016 2015. Internal use software All qualifying costs related to the development of internal use software, other than those incurred during the application development stage, are expensed as incurred. Costs incurred during the application development stage are required to be capitalized and amortized over the estimated useful life of the software. Capitalized software costs are amortized on a straight-line basis over their expected economic lives, typically 3 5 Onvia periodically evaluates the remaining useful lives of internal use software and will record an abandonment if management determines that all or a portion of the asset will no longer be used, or will adjust the remaining useful life to reflect revised estimates for impairment as described above under “Property and equipment.” In addition, if the carrying value of the software exceeds the estimated future cash flows, an impairment will be recorded to reduce the carrying value to the expected net realizable value. No December 31, 2016 2015. Income taxes Onvia accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, and for net operating loss, or NOL, carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The deferred tax asset has been reduced by a valuation allowance that reduces the amount of our deferred tax asset to a level that is more-than-likely-than-not to be recognized. In determining the amount of the valuation allowance the Company considers whether it is more likely that some portion or all of the net deferred tax assets will not be realized. In particular, the Company considers its three Treasury stock Onvia accounts for treasury stock using the cost method. In December 2015, 349,497 13. December 31, 2016, 1,592,304 $5,446,259. Other comprehensive income or loss Comprehensive income or loss is the change in equity from transactions and other events and circumstances other than those resulting from investments by and distributions to owners. Other comprehensive income or loss for Onvia consists of unrealized gains and losses on available-for-sale investments. Net income or loss per share Basic income or loss per share is calculated by dividing net income or loss for the period by the weighted average shares of common stock outstanding for the period. Diluted earnings per share is calculated by dividing net income or loss per share by the weighted average common stock outstanding for the period plus dilutive potential common shares using the treasury stock method. In periods with a net loss, basic and diluted earnings per share are identical because inclusion of potentially dilutive common shares would be antidilutive. For the years ended December 31, 2016 2015, 868,230 840,256 Recent accounting pronouncements In May 2014, five 1) 2) 3) 4) 5) first 2018 first 2017. 2014 09, 2014 09, In November 2015, December 15, 2016. may $0 December 31, 2016. In February 2016, 12 December 15, 2018. may In March 2016, December 15, 2016. may |
Note 2 - Stock-based Compensati
Note 2 - Stock-based Compensation and Stock Option Activity | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 2: Onvia measures compensation cost for all stock-based awards at fair value on the date of grant. The fair value of stock options is determined using the Black-Scholes valuation model. Such value is recognized as expense over the service period, net of estimated forfeitures. The estimation of stock awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from the Company’s current estimates, such amounts will be recorded as a cumulative adjustment in the period estimates are revised. Management considers many factors when estimating expected forfeitures, including employee class, historical experience and expected future activity. Actual results, and future changes in estimates, may Stock-Based Benefit Plans Onvia, Inc. 2008 The Onvia, Inc. 2008 2008 September 2008 1999 1999 1999 2008 2008 ten 2008 100% 2008 409A 2008 four five 25% 20%, one December 31, 2016 2008 830,918 809,925 2000 In March 2000, February 28, 2010. first 1,000 six 25% four ten one ten Employee Stock Purchase Plan In May 2000, 2000 60,000 first 2001 2010, 1% 60,000 may 85% 718 December 31, 2016 451,809 Impact on Results of Operations The impact on Onvia’s results of operations of recording stock-based compensation for the years ended December 31 2016 2015 Sales and marketing $ 71 $ - Technology and development 46 36 General and administrative 81 85 Total stock-based compensation $ 198 $ 121 Valuation Assumptions Onvia calculated the fair value of each option award on the date of grant using the Black-Scholes valuation model. The following weighted average assumptions were used for options granted in the years ending December 31: 2016 2015 Risk-free interest rate 1.51 % 1.76 % Expected volatility 42 % 44 % Expected dividends 0 % 0 % Expected life (in years) 5.8 5.9 The fair value of each employee purchase under the ESPP is estimated on the first May 1 November 1 December 31 2016 2015 Risk-free interest rate 0.34 % 0.05 % Expected volatility 35 % 36 % Expected dividends 0 % 0 % Expected life (in years) 0.5 0.5 Risk-Free Interest Rate The average risk free interest rate was determined based on the market yield for U.S. Treasury securities for the expected term of the grant at the time of grant. Expected Volatility Management used the historical volatility of Onvia’s common stock to estimate the future volatility of its common stock over the expected term of the options granted for purposes of estimating the fair value of options granted. Expected Dividends Management does not currently intend to pay dividends; therefore, this assumption is set at 0%. Expected Life Onvia’s computation of expected life was determined based on historical experience of similar awards, giving consideration to the contractual terms of the awards, vesting schedules and expectations of future employee behavior. Management estimated future exercise and cancellation behavior, generally by assuming that remaining shares would be exercised or cancelled ratably over their remaining contractual term, adjusted for certain expectations of future employee behavior. Management considers the behavior patterns separately for distinct groups of employees that have similar historical experience. Stock Option Activity The following table summarizes activity under Onvia’s equity incentive plans for the years ended December 31, 2016 2015: Options Weighted Weighted Aggregate (1) Total options outstanding at January 1, 2015 889,592 $ 4.20 Options granted 151,750 4.21 Options exercised (64,877 ) 3.17 Options expired (23,417 ) 4.36 Options forfeited and cancelled (131,297 ) 5.47 Total options outstanding at December 31, 2015 821,751 $ 4.08 5.95 $ 292,799 Options exercisable at December 31, 2015 587,125 $ 4.08 4.83 $ 268,579 Options vested and expected to vest at December 31, 2015 786,578 $ 4.11 5.87 $ 269,314 Total options outstanding at January 1, 2016 821,751 $ 4.08 Options granted 95,000 3.81 Options exercised (1,000 ) 3.40 Options expired (31,500 ) 4.64 Options forfeited and cancelled (4,333 ) 4.86 Total options outstanding at December 31, 2016 879,918 $ 4.03 5.60 $ 712,377 Options exercisable at December 31, 2016 654,490 $ 4.03 4.53 $ 604,760 Options vested and expected to vest at December 31, 2016 853,057 $ 4.03 5.50 $ 699,862 (1) $4.45 December 31, 2016 December 31, 2016. December 31, 2016 666,751 503,407, The weighted average grant date fair value of options granted during the years ended December 31, 2016 2015, $1.57 $1.86 December 31, 2016 2015, $584 $67,168, As of December 31, 2016, $181,811 2.1 |
Note 3 - Short-term and Long-te
Note 3 - Short-term and Long-term Investments | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3: Onvia classifies short-term and long-term investments in debt securities as available-for-sale, stated at fair value as summarized in the following table (in thousands): December 31, 2016 Amortized Gross Gross Fair Value U.S. Government backed securities $ 110 $ - $ - $ 110 Certificates of Deposit (1) 4,707 - - 4,707 $ 4,817 $ - $ - $ 4,817 (1) December 31, 2016 December 31, 2015 Amortized Gross Gross Fair Value U.S. Government backed securities $ 902 $ - $ - $ 902 Certificates of Deposit (1) 4,376 - (3 ) 4,373 $ 5,278 $ - $ (3 ) $ 5,275 (1) December 31, 2015 Onvia accounts for short-term investments at fair value defined as the exchange price that would be received for an asset, or paid to transfer a liability (an exit price), in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Onvia applies a fair value hierarchy to its investments, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three may Level 1 Level 2 1 Level 3 Onvia uses the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The following tables summarize, by major security type, short-term and long-term investments classified as available-for-sale at December 31, 2016 2015, Fair Value Measurements as of December 31, 2016 Level 1 Level 2 Level 3 Balance as of U.S. Government backed securities $ - $ 110 $ - $ 110 Certificates of Deposit - 4,707 - 4,707 $ - $ 4,817 $ - $ 4,817 Fair Value Measurements as of December 31, 2015 Level 1 Level 2 Level 3 Balance as of U.S. Government backed securities $ - $ 902 $ - $ 902 Certificates of Deposit - 4,373 - 4,373 $ - $ 5,275 $ - $ 5,275 There were no transfers in or out of Level 1 2 December 31, 2016 2015, 3 |
Note 4 - Prepaid Expenses and O
Note 4 - Prepaid Expenses and Other Current Assets | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Other Current Assets [Text Block] | Note 4: Prepaid expenses and other current assets consist of the following at December 31 2016 2015 Prepaid software maintenance agreements $ 630 $ 690 Other prepaid expenses 133 175 Prepaid insurance 107 108 Other receivables 78 94 Prepaid rent 76 - Interest receivable 11 8 $ 1,035 $ 1,075 |
Note 5 - Security Deposits
Note 5 - Security Deposits | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Lease Security Deposit [Text Block] | Note 5: Pursuant to Onvia’s lease for its current corporate office space, Onvia has established a stand by letter of credit as security to the lease increasing from $100,000 April 2013, $125,000 January 2014 $150,000 January 2015. April 2021 December 31, 2016, $150,000 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 6: Property and equipment consists of the following at December 31 2016 2015 Computer equipment $ 3,822 $ 3,932 Software 1,805 1,856 Furniture and fixtures 119 117 Leasehold improvements 815 815 Total cost basis 6,561 6,720 Less accumulated depreciation and amortization (5,717 ) (5,684 ) Net book value $ 844 $ 1,036 During the year ended December 31, 2016, $491,000 $139,000 2015. $4,000 $19,000 2016 2015 Depreciation expense was $524,000 $630,000 December 31, 2016 2015, |
Note 7 - Internal Use Software
Note 7 - Internal Use Software | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Internal Use Software Disclosure [Text Block] | Note 7: Onvia capitalizes qualifying computer software costs incurred during the “application development stage” and other costs as permitted. Amortization of these costs begins once the product is ready for its intended use. These costs are amortized on a straight-line basis over the estimated useful life of the product, typically 3 5 Onvia periodically evaluates the remaining useful lives and carrying values of internal use software. If management determines that all or a portion of the asset will no longer be used, or the estimated remaining useful life differs from existing estimates, an abandonment will be recorded to reduce the carrying value or adjust the remaining useful life to reflect revised estimates. In addition, if the carrying value of the software exceeds the estimated future cash flows, an impairment will be recorded to reduce the carrying value to the expected realizable value. During 2016 $962,000 2016 $446,000 2017, $516,000 The following table presents a roll forward of capitalized internal use software for the years ended December 31, 2016 Balance at Additions Balance at Capitalized internal use software $ 18,812 $ 2,401 $ 21,213 Accumulated amortization (13,721 ) (2,012 ) (15,733 ) $ 5,091 $ 389 $ 5,480 Amortization expense related to capitalized software was $2.0 $1.7 December 31, 2016 2015, |
Note 8 - Accrued Expenses
Note 8 - Accrued Expenses | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 8: Accrued expenses consist of the following at December 31 2016 2015 Payroll and related liabilities $ 1,430 $ 855 Taxes payable and other 104 82 $ 1,534 $ 937 Other current liabilities consist of the following at December 31 2016 2015 Deferred rent, current portion $ 107 $ 78 Obligations under capital leases, current portion 27 25 $ 134 $ 103 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 9: The following table provides reconciliation between the statutory income tax rate and the Company’s effective tax rate for the years ended December 31: 2016 2015 Tax expense at statutory rate -34.0 % -34.0 % Stock-based compensation 8.6 % 19.3 % Amortization of goodwill -0.9 % -3.5 % Meals and entertainment 2.3 % 3.1 % Deferred tax asset adjustment 0.0 % 0.0 % Valuation allowance 24.0 % 15.1 % Net Tax expense 0.0 % 0.0 % Onvia’s deferred tax asset consists of the following as of December 31 2016 2015 Deferred tax assets Net operating loss carryforward $ 26,352 $ 26,109 Accrued expenses not currently deductible 671 652 Depreciation different for tax purposes 123 100 Deferred tax asset total $ 27,146 $ 26,861 Deferred tax liability Prepaid expenses (262 ) (305 ) Depreciation different for tax purposes (1,863 ) (1,731 ) Deferred tax liabilities total (2,125 ) (2,036 ) Net deferred tax asset before valuation allowance 25,021 24,825 Valuation allowance (25,021 ) (24,825 ) Net deferred tax asset after valuation allowance $ - $ - The Company had approximately $25 December 31, 2016. three Based upon the analysis of all positive and negative evidence, it is management’s current judgment that due to the recent pattern of net losses, the Company has concluded that it is more-likely-than-not that some or all of the deferred tax assets will not be realized. Therefore, the Company has maintained its valuation allowance at 100% December 31, 2016. The Company may As of December 31, 2016 2015, $77,505,220 $76,792,130, 2021 2035. Utilization of the NOL carryforwards may 382 1986, may 382 50 three Onvia performed a Section 382 September 2001. 382 September 2001, |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 10: Operating leases Onvia has a lease agreement for its corporate offices located in Seattle, Washington that expires in April, 2021. June 2019. The office lease contains rent escalation clauses and rent holidays. Rent expense is recorded on a straight-line basis over the lease term with the difference between the rent paid and the straight-line rent expense recorded as a deferred rent liability. Total rent expense associated with real estate operating leases was $770,000 $767,000 December 31, 2016 2015, Future minimum lease payments required on non-cancellable operating leases are as follows for the years ending December 31 Real Estate Office Equipment Total 2017 $ 873 $ 20 $ 893 2018 896 20 916 2019 918 9 927 2020 940 - 940 2021 320 - 320 $ 3,947 $ 49 $ 3,996 Capital Leases Onvia has non-cancellable capital leases for phone system server equipment and maintenance related to this equipment. Remaining future minimum lease payments required on these capital leases are as follows for the years ended December 31 Principal Interest Total 2017 $ 40 $ 3 $ 43 2018 25 - 25 $ 65 $ 3 $ 68 Purchase Obligations Onvia has non-cancellable purchase obligations for software development and license agreements, co-location hosting arrangements, telecom agreements, marketing agreements and third 2017 2018. December 31 Purchase 2017 $ 444 2018 364 $ 808 CEO Transition Agreement On March 28, 2016, The Transition Agreement, provides for, Riner to transition into planned retirement and a 12 June 30, 2017, In exchange for Riner’s entry into the Transition Agreement, his covenants and promises described therein, and his entry into an additional Release of Claims Agreement on his last of date of employment with the Company, the Company has agreed to pay Riner a lump sum cash payment of $362,000 July 8, 2017. Costs related to the Transition Agreement are being accrued over the requisite service period and the expense is included in operating expenses in the interim unaudited Condensed Consolidated Statements of Operations. On December 30, 2016 January 6, 2017, January 30, 2017. Legal Proceedings From time to time, legal proceedings may |
Note 11 - Employee Retirement P
Note 11 - Employee Retirement Plan | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note 11: In March 2000, may In January 2006, 25% 6% four first 10% 2016 2015. $56,000 $39,000 2016 2015, |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 12: Authorized shares At December 31, 2016, 13,000,000 $0.0001 11,000,000 2,000,000 |
Note 13 - Stock Repurchase
Note 13 - Stock Repurchase | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | Note 13: On December 18, 2015, $0.0001 349,497 $3.00 $1,050,000, 382 |
Selected Quarterly Financial In
Selected Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | Selected Quarterly Financial Information (Unaudited) The following tables summarize the quarterly financial data for the years ended December 31, 2016 2015: Three Months Ended March 31, June 30, September 30, December 31, (in thousands, except per share amounts) Historical Consolidated Statements of Operations and Comprehensive Income Data: Revenue $ 6,062 $ 6,020 $ 6,173 $ 6,312 Gross margin (exclusive of depreciation and amortization) 5,298 5,278 5,484 5,629 Total operating expenses 5,286 5,411 5,989 5,854 Gain/(loss) from operations 12 (133 ) (505 ) (225 ) Net income/(loss) $ 19 $ (125 ) $ (492 ) $ (215 ) Basic net income/(loss) per common share $ 0.00 $ (0.02 ) $ (0.07 ) $ (0.03 ) Diluted net income/(loss) per common share $ 0.00 $ (0.02 ) $ (0.07 ) $ (0.03 ) Basic weighted average shares outstanding 7,125 7,129 7,131 7,136 Diluted weighted average shares outstanding 7,193 7,129 7,131 7,136 Three Months Ended March 31, June 30, September 30, December 31, (in thousands, except per share amounts) Historical Consolidated Statements of Operations and Comprehensive Income Data: Revenue $ 5,845 $ 5,894 $ 5,887 $ 5,962 Gross margin (exclusive of depreciation and amortization) 5,052 5,056 5,104 5,190 Total operating expenses 5,531 4,998 5,101 5,276 Gain/(loss) from operations (479 ) 58 3 (86 ) Net income/(loss) $ (477 ) $ 80 $ 9 $ (98 ) Basic net income/(loss) per common share $ (0.06 ) $ 0.01 $ 0.00 $ (0.01 ) Diluted net income/(loss) per common share $ (0.06 ) $ 0.01 $ 0.00 $ (0.01 ) Basic weighted average shares outstanding 7,401 7,413 7,449 7,435 Diluted weighted average shares outstanding 7,401 7,578 7,561 7,435 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | 2. FINANCIAL STATEMENT SCHEDULES SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS Additions Description (in thousands) Balances at Charged to Charged to Deductions (1) Balances at Allowance for doubtful accounts Year Ended December 31, 2015 $ 42 38 - (48 ) $ 32 Year Ended December 31, 2016 $ 32 35 - (33 ) $ 34 ______________________________ (1) Additions (2) Description (in thousands) Balances at Charged to Charged to Deductions (2) Balances at Deferred tax assets-valuation allowance Year Ended December 31, 2015 $ 24,752 - 73 - $ 24,825 Year Ended December 31, 2016 $ 24,825 - 196 - $ 25,021 ______________________________ (2) Schedules not listed above have been omitted because they are not applicable, are not required, or the information required to be set forth in the schedules is included in the consolidated financial statements or related notes. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations. Onvia’s Product team was previously developing both internal sales tools and the external B2G B2G $1.7 twelve December 31, 2015 |
Consolidation, Policy [Policy Text Block] | Basis of consolidation Onvia had a wholly-owned subsidiary in Canada that was dissolved effective December 19, 2014; December 31, 2014. |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles, or GAAP, requires the Company’s management to make estimates and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant estimates include the fair value of stock-based compensation, allowance for doubtful accounts, recoverability of long-lived assets, and the valuation allowance for net deferred tax assets. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances. Actual results may During 2016, 7 |
Revenue Recognition, Policy [Policy Text Block] | Revenue recognition Onvia’s revenues are primarily generated from client subscriptions, content licenses and management reports. Onvia’s subscriptions are generally annual contracts; however, the Company also offers extended multi-year contracts to its subscription clients, and content licenses are generally multi-year agreements. Subscription fees and content licenses are recognized ratably over the term of the agreement. Onvia also generates revenue from fees charged for management reports, document download services, and other services; revenue from these types of services is recognized upon delivery, or, if report refreshes are included, ratably over the service period. Onvia’s subscription services and management reports are also sold together as a bundled offering. The Company allocates revenue from these bundled sales ratably between the subscription services and the management reports based on established list prices for those offerings. The Company measures and allocates arrangement consideration to one Unearned revenue consists of payments received for prepaid subscriptions, as well as the invoiced, but unpaid, portion of subscriptions and content licenses whose terms extend into periods beyond the balance sheet date. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value of financial instruments Onvia’s financial instruments consist of cash and cash equivalents, short-term investments, accounts receivable, security deposits, accounts payable, and accrued liabilities. The carrying amounts of the current portion of the financial instruments approximate fair value due to their short maturities. The carrying value of the long-term portion of security deposits approximates fair value as the interest rate is at market value. All investments, when held, are classified as available-for-sale and are reported at fair value based on market quotes, and unrealized gains or losses on these investments are recorded in stockholders’ equity and reported in comprehensive income. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash, cash equivalents and investments Onvia considers all highly liquid instruments with maturities at purchase of 90 December 31, 2016 2015, 90 one 365 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Management of credit risk Onvia is subject to concentration of credit risk, primarily from its investments and customer contracts. Onvia manages its credit risk for investments by purchasing investment-grade securities and diversifying its investment portfolio among issuers and maturities. Currently, the Company invests primarily in FDIC insured or government backed funds and securities to mitigate the credit risk associated with its investment portfolio. The Company manages credit risks on customer contracts by adhering to common underwriting practices. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and equipment Equipment and leasehold improvements are stated at cost, net of accumulated depreciation. Depreciation expense on software, furniture, and equipment is recorded using the straight-line method over estimated useful lives of three five The Company periodically evaluates its long-lived assets for impairment. An impairment loss would be recognized for assets to be disposed of or held-for-use when the carrying amount of an asset is deemed to not be recoverable. If events or circumstances indicate that any of the Company’s long-lived assets might be impaired, the Company analyzes the estimated undiscounted future cash flows to be generated from the applicable asset. In addition, the Company records an impairment loss to the extent that the carrying value of the asset exceeds the fair value of the asset. Fair value is generally determined using an estimate of discounted future net cash flows from operating activities or upon disposal of the asset. No December 31, 2016 2015. |
Internal Use Software, Policy [Policy Text Block] | Internal use software All qualifying costs related to the development of internal use software, other than those incurred during the application development stage, are expensed as incurred. Costs incurred during the application development stage are required to be capitalized and amortized over the estimated useful life of the software. Capitalized software costs are amortized on a straight-line basis over their expected economic lives, typically 3 5 Onvia periodically evaluates the remaining useful lives of internal use software and will record an abandonment if management determines that all or a portion of the asset will no longer be used, or will adjust the remaining useful life to reflect revised estimates for impairment as described above under “Property and equipment.” In addition, if the carrying value of the software exceeds the estimated future cash flows, an impairment will be recorded to reduce the carrying value to the expected net realizable value. No December 31, 2016 2015. |
Income Tax, Policy [Policy Text Block] | Income taxes Onvia accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, and for net operating loss, or NOL, carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The deferred tax asset has been reduced by a valuation allowance that reduces the amount of our deferred tax asset to a level that is more-than-likely-than-not to be recognized. In determining the amount of the valuation allowance the Company considers whether it is more likely that some portion or all of the net deferred tax assets will not be realized. In particular, the Company considers its three |
Treasury Stock [Policy Text Block] | Treasury stock Onvia accounts for treasury stock using the cost method. In December 2015, 349,497 13. December 31, 2016, 1,592,304 $5,446,259. |
Comprehensive Income, Policy [Policy Text Block] | Other comprehensive income or loss Comprehensive income or loss is the change in equity from transactions and other events and circumstances other than those resulting from investments by and distributions to owners. Other comprehensive income or loss for Onvia consists of unrealized gains and losses on available-for-sale investments. |
Earnings Per Share, Policy [Policy Text Block] | Net income or loss per share Basic income or loss per share is calculated by dividing net income or loss for the period by the weighted average shares of common stock outstanding for the period. Diluted earnings per share is calculated by dividing net income or loss per share by the weighted average common stock outstanding for the period plus dilutive potential common shares using the treasury stock method. In periods with a net loss, basic and diluted earnings per share are identical because inclusion of potentially dilutive common shares would be antidilutive. For the years ended December 31, 2016 2015, 868,230 840,256 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting pronouncements In May 2014, five 1) 2) 3) 4) 5) first 2018 first 2017. 2014 09, 2014 09, In November 2015, December 15, 2016. may $0 December 31, 2016. In February 2016, 12 December 15, 2018. may In March 2016, December 15, 2016. may |
Note 2 - Stock-based Compensa23
Note 2 - Stock-based Compensation and Stock Option Activity (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | 2016 2015 Sales and marketing $ 71 $ - Technology and development 46 36 General and administrative 81 85 Total stock-based compensation $ 198 $ 121 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2016 2015 Risk-free interest rate 1.51 % 1.76 % Expected volatility 42 % 44 % Expected dividends 0 % 0 % Expected life (in years) 5.8 5.9 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | 2016 2015 Risk-free interest rate 0.34 % 0.05 % Expected volatility 35 % 36 % Expected dividends 0 % 0 % Expected life (in years) 0.5 0.5 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Options Weighted Weighted Aggregate (1) Total options outstanding at January 1, 2015 889,592 $ 4.20 Options granted 151,750 4.21 Options exercised (64,877 ) 3.17 Options expired (23,417 ) 4.36 Options forfeited and cancelled (131,297 ) 5.47 Total options outstanding at December 31, 2015 821,751 $ 4.08 5.95 $ 292,799 Options exercisable at December 31, 2015 587,125 $ 4.08 4.83 $ 268,579 Options vested and expected to vest at December 31, 2015 786,578 $ 4.11 5.87 $ 269,314 Total options outstanding at January 1, 2016 821,751 $ 4.08 Options granted 95,000 3.81 Options exercised (1,000 ) 3.40 Options expired (31,500 ) 4.64 Options forfeited and cancelled (4,333 ) 4.86 Total options outstanding at December 31, 2016 879,918 $ 4.03 5.60 $ 712,377 Options exercisable at December 31, 2016 654,490 $ 4.03 4.53 $ 604,760 Options vested and expected to vest at December 31, 2016 853,057 $ 4.03 5.50 $ 699,862 |
Note 3 - Short-term and Long-24
Note 3 - Short-term and Long-term Investments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | December 31, 2016 Amortized Gross Gross Fair Value U.S. Government backed securities $ 110 $ - $ - $ 110 Certificates of Deposit (1) 4,707 - - 4,707 $ 4,817 $ - $ - $ 4,817 December 31, 2015 Amortized Gross Gross Fair Value U.S. Government backed securities $ 902 $ - $ - $ 902 Certificates of Deposit (1) 4,376 - (3 ) 4,373 $ 5,278 $ - $ (3 ) $ 5,275 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements as of December 31, 2016 Level 1 Level 2 Level 3 Balance as of U.S. Government backed securities $ - $ 110 $ - $ 110 Certificates of Deposit - 4,707 - 4,707 $ - $ 4,817 $ - $ 4,817 Fair Value Measurements as of December 31, 2015 Level 1 Level 2 Level 3 Balance as of U.S. Government backed securities $ - $ 902 $ - $ 902 Certificates of Deposit - 4,373 - 4,373 $ - $ 5,275 $ - $ 5,275 |
Note 4 - Prepaid Expenses and25
Note 4 - Prepaid Expenses and Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | 2016 2015 Prepaid software maintenance agreements $ 630 $ 690 Other prepaid expenses 133 175 Prepaid insurance 107 108 Other receivables 78 94 Prepaid rent 76 - Interest receivable 11 8 $ 1,035 $ 1,075 |
Note 6 - Property and Equipme26
Note 6 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2016 2015 Computer equipment $ 3,822 $ 3,932 Software 1,805 1,856 Furniture and fixtures 119 117 Leasehold improvements 815 815 Total cost basis 6,561 6,720 Less accumulated depreciation and amortization (5,717 ) (5,684 ) Net book value $ 844 $ 1,036 |
Note 7 - Internal Use Software
Note 7 - Internal Use Software (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Capitalized Internal Use Software Roll Forward [Table Text Block] | Balance at Additions Balance at Capitalized internal use software $ 18,812 $ 2,401 $ 21,213 Accumulated amortization (13,721 ) (2,012 ) (15,733 ) $ 5,091 $ 389 $ 5,480 |
Note 8 - Accrued Expenses (Tabl
Note 8 - Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | 2016 2015 Payroll and related liabilities $ 1,430 $ 855 Taxes payable and other 104 82 $ 1,534 $ 937 |
Schedule of Other Assets and Other Liabilities [Table Text Block] | 2016 2015 Deferred rent, current portion $ 107 $ 78 Obligations under capital leases, current portion 27 25 $ 134 $ 103 |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2016 2015 Tax expense at statutory rate -34.0 % -34.0 % Stock-based compensation 8.6 % 19.3 % Amortization of goodwill -0.9 % -3.5 % Meals and entertainment 2.3 % 3.1 % Deferred tax asset adjustment 0.0 % 0.0 % Valuation allowance 24.0 % 15.1 % Net Tax expense 0.0 % 0.0 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2016 2015 Deferred tax assets Net operating loss carryforward $ 26,352 $ 26,109 Accrued expenses not currently deductible 671 652 Depreciation different for tax purposes 123 100 Deferred tax asset total $ 27,146 $ 26,861 Deferred tax liability Prepaid expenses (262 ) (305 ) Depreciation different for tax purposes (1,863 ) (1,731 ) Deferred tax liabilities total (2,125 ) (2,036 ) Net deferred tax asset before valuation allowance 25,021 24,825 Valuation allowance (25,021 ) (24,825 ) Net deferred tax asset after valuation allowance $ - $ - |
Note 10 - Commitments and Con30
Note 10 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Real Estate Office Equipment Total 2017 $ 873 $ 20 $ 893 2018 896 20 916 2019 918 9 927 2020 940 - 940 2021 320 - 320 $ 3,947 $ 49 $ 3,996 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Principal Interest Total 2017 $ 40 $ 3 $ 43 2018 25 - 25 $ 65 $ 3 $ 68 |
Long-term Purchase Commitment [Table Text Block] | Purchase 2017 $ 444 2018 364 $ 808 |
Selected Quarterly Financial 31
Selected Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Three Months Ended March 31, June 30, September 30, December 31, (in thousands, except per share amounts) Historical Consolidated Statements of Operations and Comprehensive Income Data: Revenue $ 6,062 $ 6,020 $ 6,173 $ 6,312 Gross margin (exclusive of depreciation and amortization) 5,298 5,278 5,484 5,629 Total operating expenses 5,286 5,411 5,989 5,854 Gain/(loss) from operations 12 (133 ) (505 ) (225 ) Net income/(loss) $ 19 $ (125 ) $ (492 ) $ (215 ) Basic net income/(loss) per common share $ 0.00 $ (0.02 ) $ (0.07 ) $ (0.03 ) Diluted net income/(loss) per common share $ 0.00 $ (0.02 ) $ (0.07 ) $ (0.03 ) Basic weighted average shares outstanding 7,125 7,129 7,131 7,136 Diluted weighted average shares outstanding 7,193 7,129 7,131 7,136 Three Months Ended March 31, June 30, September 30, December 31, (in thousands, except per share amounts) Historical Consolidated Statements of Operations and Comprehensive Income Data: Revenue $ 5,845 $ 5,894 $ 5,887 $ 5,962 Gross margin (exclusive of depreciation and amortization) 5,052 5,056 5,104 5,190 Total operating expenses 5,531 4,998 5,101 5,276 Gain/(loss) from operations (479 ) 58 3 (86 ) Net income/(loss) $ (477 ) $ 80 $ 9 $ (98 ) Basic net income/(loss) per common share $ (0.06 ) $ 0.01 $ 0.00 $ (0.01 ) Diluted net income/(loss) per common share $ (0.06 ) $ 0.01 $ 0.00 $ (0.01 ) Basic weighted average shares outstanding 7,401 7,413 7,449 7,435 Diluted weighted average shares outstanding 7,401 7,578 7,561 7,435 |
Schedule II - Valuation and Q32
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Valuation Allowances and Reserve Accounts [Table Text Block] | Additions Description (in thousands) Balances at Charged to Charged to Deductions (1) Balances at Allowance for doubtful accounts Year Ended December 31, 2015 $ 42 38 - (48 ) $ 32 Year Ended December 31, 2016 $ 32 35 - (33 ) $ 34 Additions (2) Description (in thousands) Balances at Charged to Charged to Deductions (2) Balances at Deferred tax assets-valuation allowance Year Ended December 31, 2015 $ 24,752 - 73 - $ 24,825 Year Ended December 31, 2016 $ 24,825 - 196 - $ 25,021 |
Note 1 - Summary of Significa33
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Stock Repurchased During Period, Shares | 349,497 | |
Treasury Stock, Shares | 1,592,304 | 1,592,304 |
Treasury Stock, Value | $ 5,446,259 | $ 5,446,000 |
Property and Equipment [Member] | ||
Asset Impairment Charges | 0 | 0 |
Internal Use Software [Member] | ||
Asset Impairment Charges | 0 | $ 0 |
Deferred Tax Asset [Member] | ||
Deferred Tax Assets, Net of Valuation Allowance | $ 0 | |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 868,230 | 840,256 |
Minimum [Member] | ||
Property, Plant and Equipment, Useful Life | 3 years | |
Capitalized Internal Use Software Usefu Life | 3 years | |
Maximum [Member] | ||
Property, Plant and Equipment, Useful Life | 5 years | |
Capitalized Internal Use Software Usefu Life | 5 years | |
Twelve Months Ended December 31, 2015 [Member] | Reclassification of Sales and Marketing Operating Expenses as Technology and Development Operating Expenses [Member] | ||
Prior Period Reclassification Adjustment | $ 1,700,000 |
Note 2 - Stock-based Compensa34
Note 2 - Stock-based Compensation and Stock Option Activity (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 879,918 | 821,751 | 889,592 |
Share Price | $ 4.45 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.57 | $ 1.86 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 584 | $ 67,168 | |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 181,811 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 36 days | ||
In the Money Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 666,751 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 503,407 | ||
Onvia 2008 Equity Incentive Plan [Member] | |||
Share Based Compensation Arrangement by Share Based Payment Award Period for Award Grants | 10 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 100.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 830,918 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 809,925 | ||
Onvia 2008 Equity Incentive Plan [Member] | Vesting One Year from Grant Date and Ratable Vesting Thereafter [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | ||
Onvia 2008 Equity Incentive Plan [Member] | Vesting One Year from Grant Date and Ratable Vesting Thereafter [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||
Onvia 2000 Directors Stock Option Plan [Member] | Initial Option Grants [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||
Onvia 2000 Directors Stock Option Plan [Member] | Annual Option Grants [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||
Onvia 2000 Directors Stock Option Plan [Member] | Non-Employee Director [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 1,000 | ||
Onvia 2000 Directors Stock Option Plan [Member] | Each Year for Four Years on the Anniversary of the Date of Grant [Member] | |||
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | 25.00% | ||
Employee Stock Purchase Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 60,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum | 1.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 451,809 |
Note 2 - Stock-based Compensa35
Note 2 - Stock-based Compensation and Stock Option Activity - Impact on Results of Operations for Recording Stock-based Compensation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Stock-based compensation | $ 198 | $ 121 |
Selling and Marketing Expense [Member] | ||
Stock-based compensation | 71 | |
Technology and Development [Member] | ||
Stock-based compensation | 46 | 36 |
General and Administrative Expense [Member] | ||
Stock-based compensation | $ 81 | $ 85 |
Note 2 - Stock-based Compensa36
Note 2 - Stock-based Compensation and Stock Option Activity - Weighted Average Assumptions Used for the Black-scholes Valuation Mode (Details) - Employee Stock Option [Member] | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Risk-free interest rate | 1.51% | 1.76% |
Expected volatility | 42.00% | 44.00% |
Expected dividends | 0.00% | 0.00% |
Expected life (in years) (Year) | 5 years 292 days | 5 years 328 days |
Note 2 - Stock-based Compensa37
Note 2 - Stock-based Compensation and Stock Option Activity - Weighted Average Assumptions Used for ESPP Employee Purchase Price (Details) - Stock Compensation Plan [Member] | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Risk-free interest rate | 0.34% | 0.05% |
Expected volatility | 35.00% | 36.00% |
Expected dividends | 0.00% | 0.00% |
Expected life (in years) (Year) | 182 days | 182 days |
Note 2 - Stock-based Compensa38
Note 2 - Stock-based Compensation and Stock Option Activity - Stock Option Activity Under Equity Incentive Plan (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | ||
Options outstanding (in shares) | 821,751 | 889,592 | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 4.08 | $ 4.20 | |
Options granted (in shares) | 95,000 | 151,750 | |
Options granted, weighted average exercise price (in dollars per share) | $ 3.81 | $ 4.21 | |
Options exercised (in shares) | (1,000) | (64,877) | |
Options exercised, weighted average exercise price (in dollars per share) | $ 3.40 | $ 3.17 | |
Options expired (in shares) | (31,500) | (23,417) | |
Options expired, weighted average exercise price (in dollars per share) | $ 4.64 | $ 4.36 | |
Options forfeited and cancelled (in shares) | (4,333) | (131,297) | |
Options forfeited and cancelled, weighted average exercise price (in dollars per share) | $ 4.86 | $ 5.47 | |
Options outstanding (in shares) | 879,918 | 821,751 | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 4.03 | $ 4.08 | |
Options outstanding, weighted average remaining contractual term (Year) | 5 years 219 days | 5 years 346 days | |
Options outstanding, aggregate intrinsic value | [1] | $ 712,377 | $ 292,799 |
Options exercisable (in shares) | 654,490 | 587,125 | |
Options exercisable, weighted average exercise price (in dollars per share) | $ 4.03 | $ 4.08 | |
Options exercisable, weighted average remaining contractual term (Year) | 4 years 193 days | 4 years 302 days | |
Options exercisable, aggregate intrinsic value | [1] | $ 604,760 | $ 268,579 |
Options vested and expected to vest (in shares) | 853,057 | 786,578 | |
Options vested and expected to vest, weighted average exercise price (in dollars per share) | $ 4.03 | $ 4.11 | |
Options vested and expected to vest, weighted average remaining contractual term (Year) | 5 years 182 days | 5 years 317 days | |
Options vested and expected to vest, aggregate intrinsic value | [1] | $ 699,862 | $ 269,314 |
[1] | Aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of Onvia's common stock of $4.45 at December 31, 2016 for options that were in-the-money at December 31, 2016. The number of in-the-money options outstanding and exercisable at December 31, 2016 was 666,751 and 503,407, respectively. |
Note 3 - Short-term and Long-39
Note 3 - Short-term and Long-term Investments - Available-for-sale Debt Securities at Fair Value (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | |||
Amortized Cost | $ 4,817 | $ 5,278 | ||
Gross Unrealized Gains | ||||
Gross Unrealized Losses | (3) | |||
Fair Value | 4,817 | 5,275 | ||
Short-term Investments [Member] | US Government Agencies Debt Securities [Member] | ||||
Amortized Cost | 110 | 902 | ||
Gross Unrealized Gains | ||||
Gross Unrealized Losses | ||||
Fair Value | 110 | 902 | ||
Short-term Investments [Member] | Certificate of Deposit [Member] | ||||
Amortized Cost | 4,707 | [1] | 4,376 | [2] |
Gross Unrealized Gains | [1] | [2] | ||
Gross Unrealized Losses | [1] | (3) | [2] | |
Fair Value | $ 4,707 | [1] | $ 4,373 | [2] |
[1] | We evaluated certificates of deposits held as of December 31, 2016 and concluded that they meet the definition of securities. | |||
[2] | We evaluated certificates of deposits held as of December 31, 2015 and concluded that they meet the definition of securities. |
Note 3 - Short-term and Long-40
Note 3 - Short-term and Long-term Investments - Available-for-sale Debt Securities, Fair Value Measurements (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available-for-sale securities | $ 4,817 | $ 5,275 |
Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 4,817 | 5,275 |
Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | ||
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 110 | 902 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | ||
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 110 | 902 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | ||
Certificate of Deposit [Member] | ||
Available-for-sale securities | 4,707 | 4,373 |
Certificate of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | ||
Certificate of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 4,707 | 4,373 |
Certificate of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities |
Note 4 - Prepaid Expenses and41
Note 4 - Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Prepaid software maintenance agreements | $ 630 | $ 690 |
Other prepaid expenses | 133 | 175 |
Prepaid insurance | 107 | 108 |
Other receivables | 78 | 94 |
Prepaid rent | 76 | |
Interest receivable | 11 | 8 |
$ 1,035 | $ 1,075 |
Note 5 - Security Deposits (Det
Note 5 - Security Deposits (Details Textual) - USD ($) | Dec. 31, 2016 | Jan. 31, 2015 | Jan. 31, 2014 | Apr. 30, 2013 |
Other Noncurrent Assets [Member] | ||||
Security Deposit | $ 150,000 | |||
Secured by Standby Letter of Credit [Member] | ||||
Letters of Credit Outstanding, Amount | $ 150,000 | $ 125,000 | $ 100,000 |
Note 6 - Property and Equipme43
Note 6 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Gain (Loss) on Disposition of Property Plant Equipment | $ 4,000 | $ (19,000) |
Depreciation | 524,000 | 630,000 |
Computer Equipment [Member] | ||
Property, Plant and Equipment, Disposals | $ 491,000 | |
Computer Equipment and Leasehold Improvements [Member] | ||
Property, Plant and Equipment, Disposals | $ 139,000 |
Note 6 - Property and Equipme44
Note 6 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Computer equipment | $ 3,822 | $ 3,932 |
Software | 1,805 | 1,856 |
Furniture and fixtures | 119 | 117 |
Leasehold improvements | 815 | 815 |
Total cost basis | 6,561 | 6,720 |
Less accumulated depreciation and amortization | (5,717) | (5,684) |
Net book value | $ 844 | $ 1,036 |
Note 7 - Internal Use Softwar45
Note 7 - Internal Use Software (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Finite-lived Computer Software, Net, Subject to Reduced Estimated Remaining Useful Life | $ 962,000 | ||
Additional Amortization from Reduction in Estimated Remaining Useful Life | 446,000 | ||
Computer Software, Intangible Asset [Member] | Operating Expense [Member] | |||
Amortization of Intangible Assets | $ 2,000,000 | $ 1,700,000 | |
Scenario, Forecast [Member] | |||
Additional Amortization from Reduction in Estimated Remaining Useful Life | $ 516,000 | ||
Minimum [Member] | |||
Capitalized Internal Use Software Usefu Life | 3 years | ||
Maximum [Member] | |||
Capitalized Internal Use Software Usefu Life | 5 years |
Note 7 - Internal Use Softwar46
Note 7 - Internal Use Software - Roll-forward of Capitalized Internal Use Software (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Beginning balance, Capitalized internal use software | $ 18,812 |
Additions, Capitalized internal use software | 2,401 |
Ending balance, Capitalized internal use software | 21,213 |
Beginning balance, Accumulated amortization | (13,721) |
Additions, Accumulated amortization | (2,012) |
Ending balance, Accumulated amortization | (15,733) |
Beginning balance, Internal use software, net | 5,091 |
Additions, Internal use software, net | 389 |
Ending balance, Internal use software, net | $ 5,480 |
Note 8 - Accrued Expenses - Sum
Note 8 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Payroll and related liabilities | $ 1,430 | $ 855 |
Taxes payable and other | 104 | 82 |
$ 1,534 | $ 937 |
Note 8 - Accrued Expenses - S48
Note 8 - Accrued Expenses - Summary of Other Current Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred rent, current portion | $ 107 | $ 78 |
Obligations under capital leases, current portion | 27 | 25 |
$ 134 | $ 103 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Deferred Tax Assets Liabilities Gross | $ 25,021,000 | $ 24,825,000 |
Valuation Allowance Percentage | 100.00% | |
Operating Loss Carryforwards | $ 77,505,220 | $ 76,792,130 |
Note 9 - Income Taxes - Reconci
Note 9 - Income Taxes - Reconciliation Between the Statutory Income Tax Rate and the Effective Income Tax Rate (Details) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Tax expense at statutory rate | (34.00%) | (34.00%) |
Stock-based compensation | 8.60% | 19.30% |
Amortization of goodwill | (0.90%) | (3.50%) |
Meals and entertainment | 2.30% | 3.10% |
Deferred tax asset adjustment | 0.00% | 0.00% |
Valuation allowance | 24.00% | 15.10% |
Net Tax expense | 0.00% | 0.00% |
Note 9 - Income Taxes - Deferre
Note 9 - Income Taxes - Deferred Tax Asset (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets | ||
Net operating loss carryforward | $ 26,352 | $ 26,109 |
Accrued expenses not currently deductible | 671 | 652 |
Depreciation different for tax purposes | 123 | 100 |
Deferred tax asset total | 27,146 | 26,861 |
Deferred tax liability | ||
Prepaid expenses | (262) | (305) |
Depreciation different for tax purposes | (1,863) | (1,731) |
Deferred tax liabilities total | (2,125) | (2,036) |
Net deferred tax asset before valuation allowance | 25,021 | 24,825 |
Valuation allowance | (25,021) | (24,825) |
Net deferred tax asset after valuation allowance |
Note 10 - Commitments and Con52
Note 10 - Commitments and Contingencies (Details Textual) - USD ($) | Mar. 28, 2016 | Dec. 31, 2016 | Dec. 31, 2015 |
Operating Leases, Rent Expense | $ 770,000 | $ 767,000 | |
President and Chief Executive Officer [Member] | |||
Deferred Compensation Arrangement with Individual, Consulting Term | 1 year | ||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | $ 362,000 |
Note 10 - Commitments and Con53
Note 10 - Commitments and Contingencies - Remaining Future Minimum Operating Lease Payments (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2,017 | $ 893 |
2,018 | 916 |
2,019 | 927 |
2,020 | 940 |
2,021 | 320 |
3,996 | |
Real Estate Operating Leases [Member] | |
2,017 | 873 |
2,018 | 896 |
2,019 | 918 |
2,020 | 940 |
2,021 | 320 |
3,947 | |
Office Equipment Operating Lease [Member] | |
2,017 | 20 |
2,018 | 20 |
2,019 | 9 |
2,020 | |
2,021 | |
$ 49 |
Note 10 - Commitments and Con54
Note 10 - Commitments and Contingencies - Non-cancellable Capital Leases Remaining Future Minimum Lease Payments (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2,017 | $ 43 |
2,018 | 25 |
68 | |
Capital Lease Principal [Member] | |
2,017 | 40 |
2,018 | 25 |
65 | |
Capital Lease Interest [Member] | |
2,017 | 3 |
2,018 | |
$ 3 |
Note 10 - Commitments and Con55
Note 10 - Commitments and Contingencies - Non-cancellable Purchase Obligations for Software Development and License Agreements (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2,017 | $ 444 |
2,018 | 364 |
$ 808 |
Note 11 - Employee Retirement56
Note 11 - Employee Retirement Plan (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | |
Jan. 31, 2006 | Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 25.00% | ||
Defined Contribution Period in Years | 4 years | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 10.00% | 10.00% | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 56,000 | $ 39,000 | |
Maximum [Member] | |||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 6.00% |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Details Textual) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Stock Shares Authorized | 13,000,000 | |
Stock Par Value Per Share | $ 0.0001 | |
Common Stock, Shares Authorized | 11,000,000 | 11,000,000 |
Preferred Stock, Shares Authorized | 2,000,000 | 2,000,000 |
Note 13 - Stock Repurchase (Det
Note 13 - Stock Repurchase (Details Textual) - USD ($) | Dec. 18, 2015 | Dec. 31, 2016 | Dec. 31, 2015 |
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | $ 0.0001 |
Treasury Stock, Shares, Acquired | 349,497 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 3 | ||
Treasury Stock, Value, Acquired, Cost Method | $ 1,050,000 |
Selected Quarterly Financial 59
Selected Quarterly Financial Information (Unaudited) - Quarterly Financial Data (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue | $ 6,312 | $ 6,173 | $ 6,020 | $ 6,062 | $ 5,962 | $ 5,887 | $ 5,894 | $ 5,845 | $ 24,567 | $ 23,588 |
Gross margin (exclusive of depreciation and amortization) | 5,629 | 5,484 | 5,278 | 5,298 | 5,190 | 5,104 | 5,056 | 5,052 | 21,689 | 20,402 |
Total operating expenses | 5,854 | 5,989 | 5,411 | 5,286 | 5,276 | 5,101 | 4,998 | 5,531 | 22,540 | 20,906 |
Gain/(loss) from operations | (225) | (505) | (133) | 12 | (86) | 3 | 58 | (479) | (851) | (504) |
Net income/(loss) | $ (215) | $ (492) | $ (125) | $ 19 | $ (98) | $ 9 | $ 80 | $ (477) | $ (813) | $ (486) |
Basic net income/(loss) per common share (in dollars per share) | $ (0.03) | $ (0.07) | $ (0.02) | $ 0 | $ (0.01) | $ 0 | $ 0.01 | $ (0.06) | ||
Diluted net income/(loss) per common share (in dollars per share) | $ (0.03) | $ (0.07) | $ (0.02) | $ 0 | $ (0.01) | $ 0 | $ 0.01 | $ (0.06) | ||
Basic weighted average shares outstanding (in shares) | 7,136 | 7,131 | 7,129 | 7,125 | 7,435 | 7,449 | 7,413 | 7,401 | ||
Diluted weighted average shares outstanding (in shares) | 7,136 | 7,131 | 7,129 | 7,193 | 7,435 | 7,561 | 7,578 | 7,401 |
Schedule II - Valuation and Q60
Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | ||
Allowance for Doubtful Accounts [Member] | |||
Balances at Beginning of Period | $ 32 | $ 42 | |
Additions Charged to Costs and Expenses | 35 | 38 | |
Additions Charged to Other Accounts | |||
Deductions | [1] | (33) | (48) |
Balances at End of Period | 34 | 32 | |
Valuation Allowance of Deferred Tax Assets [Member] | |||
Balances at Beginning of Period | 24,825 | 24,752 | |
Additions Charged to Costs and Expenses | [2] | ||
Additions Charged to Other Accounts | [2] | 196 | 73 |
Deductions | [2] | ||
Balances at End of Period | $ 25,021 | $ 24,825 | |
[1] | Uncollectible accounts written off, net of recoveries. | ||
[2] | The additions to and reductions in the deferred tax assets-valuation allowance represent the portion of a deferred tax asset for which either: (i) it is more likely than not that a tax benefit will not be realized, or (ii) it is more likely than not a tax benefit will be realized. Schedules not listed above have been omitted because they are not applicable, are not required, or the information required to be set forth in the schedules is included in the consolidated financial statements or related notes. |