Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | Apr. 28, 2017 | |
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 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 2,161 | $ 2,306 |
Short-term investments, available-for-sale | 4,302 | 4,817 |
Accounts receivable, net of allowance for doubtful accounts of $44 and $34 | 1,763 | 1,543 |
Prepaid expenses and other current assets | 1,244 | 1,035 |
Total current assets | 9,470 | 9,701 |
LONG TERM ASSETS: | ||
Property and equipment, net of accumulated depreciation | 749 | 844 |
Internal use software, net of accumulated amortization | 5,592 | 5,480 |
Long-term investments, available-for-sale | 92 | |
Other long-term assets | 248 | 263 |
Total long term assets | 6,681 | 6,587 |
TOTAL ASSETS | 16,151 | 16,288 |
CURRENT LIABILITIES: | ||
Accounts payable | 698 | 851 |
Accrued expenses | 1,308 | 1,534 |
Unearned revenue, current portion | 10,383 | 9,500 |
Other current liabilities | 140 | 134 |
Total current liabilities | 12,529 | 12,019 |
LONG TERM LIABILITIES: | ||
Unearned revenue, net of current portion | 32 | 41 |
Deferred rent, net of current portion | 496 | 529 |
Other long-term liabilities | 9 | 16 |
Total long term liabilities | 537 | 586 |
TOTAL LIABILITIES | 13,066 | 12,605 |
COMMITMENTS AND CONTINGENCIES (Note 9) | ||
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; 8,805,152 and 8,730,152 shares issued; and 7,212,848 and 7,137,848 shares outstanding | 1 | 1 |
Treasury stock, at cost: 1,592,304 and 1,592,304 shares | (5,446) | (5,446) |
Additional paid in capital | 354,676 | 354,448 |
Accumulated deficit | (346,146) | (345,320) |
Total stockholders’ equity | 3,085 | 3,683 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 16,151 | $ 16,288 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts receivable, allowance for doubtful accounts | $ 44 | $ 34 |
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) | 8,805,152 | 8,730,152 |
Common stock, shares outstanding (in shares) | 7,212,848 | 7,137,848 |
Treasury stock, shares (in shares) | 1,592,304 | 1,592,304 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Revenue | ||
Subscription | $ 5,910 | $ 5,594 |
Content license | 104 | 404 |
Management information reports | 29 | 16 |
Other | 52 | 48 |
Total revenue | 6,095 | 6,062 |
Cost of revenue (exclusive of depreciation and amortization included below) | 700 | 764 |
Gross margin | 5,395 | 5,298 |
Operating expenses: | ||
Sales and marketing | 2,999 | 2,891 |
Technology and development | 1,831 | 1,479 |
General and administrative | 1,401 | 916 |
Total operating expenses | 6,231 | 5,286 |
(Loss)/income from operations | (836) | 12 |
Interest and other income, net | 10 | 7 |
Net (loss)/income | (826) | 19 |
Unrealized gain on available-for-sale securities | 3 | |
Comprehensive (loss)/income | $ (826) | $ 22 |
Basic net (loss)/income per common share (in dollars per share) | $ (0.11) | $ 0 |
Diluted net (loss)/income per common share (in dollars per share) | $ (0.11) | $ 0 |
Basic weighted average shares outstanding (in shares) | 7,189 | 7,125 |
Diluted weighted average shares outstanding (in shares) | 7,189 | 7,193 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net (loss)/income | $ (826) | $ 19 |
Adjustments to reconcile net (loss)/income to net cash provided by operating activities: | ||
Depreciation and amortization | 769 | 500 |
Stock-based compensation | 117 | 48 |
Change in operating assets and liabilities: | ||
Accounts receivable | (220) | (499) |
Prepaid expenses and other assets | (194) | 162 |
Accounts payable | (104) | 171 |
Accrued expenses | (226) | (184) |
Unearned revenue | 874 | 1,373 |
Deferred rent | (27) | 49 |
Net cash provided by operating activities | 163 | 1,639 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Additions to property and equipment | (61) | (57) |
Additions to internal use software | (781) | (341) |
Purchases of investments | (868) | (1,878) |
Maturities of investments | 1,291 | 1,604 |
Net cash used in investing activities | (419) | (672) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from issuance of stock | 111 | |
Net cash provided by financing activities | 111 | |
Net (decrease)/increase in cash and cash equivalents | (145) | 967 |
Cash and cash equivalents, beginning of period | 2,306 | 1,483 |
Cash and cash equivalents, end of period | 2,161 | 2,450 |
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Property and equipment additions in accounts payable | (2) | (18) |
Internal use software additions in accounts payable | $ (259) | $ (161) |
Note 1 - Accounting Policies
Note 1 - Accounting Policies | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 1. Accounting Policies Basis of Presentation In this report, when we refer to “Onvia,” the “Company” “we,” “our,” or “us,” we are referring to Onvia, Inc. The unaudited interim Condensed Consolidated Financial Statements and related notes thereto have been prepared pursuant to generally accepted accounting principles in the United States of America, (“GAAP”), and the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. The accompanying unaudited interim Condensed Consolidated Financial Statements and related notes thereto should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10 December 31, 2016 (“2016 The information furnished is unaudited, but reflects, in the opinion of management, all adjustments, consisting of only normal recurring items, necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. Use of Estimates The preparation of financial statements in conformity with 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, capitalization of costs for internally developed software, recoverability of long-lived assets, including internally developed software, and the valuation allowance for Onvia’s 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 Recently Issued Accounting Pronouncements In May 2014, 2014 09 2014 09”) revenue from contracts with customers five 1) 2) 3) 4) 5) first 2018 first 2017. 2014 09, 2014 09, In February 2016, 12 December 15, 2018. may |
Note 2 - Stock-based Compensati
Note 2 - Stock-based Compensation | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 2. Stock-Based Compensation The impact on Onvia’s results of operations of recording stock-based compensation was as follows for the three March 31, 2017 2016, Three Months Ended March 31, 2017 2016 Sales and marketing $ (14 ) $ 12 Technology and development 8 13 General and administrative 123 23 Total stock-based compensation $ 117 $ 48 |
Note 3 - Earnings (Loss) Per Sh
Note 3 - Earnings (Loss) Per Share | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 3. Earnings/(Loss) per Share Basic net income/(loss) per share is calculated by dividing the net income/(loss) for the period by the weighted average shares of common stock outstanding for the period. Diluted net income/(loss) per share is calculated by dividing the net income/(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 net loss per share are identical because inclusion of potentially dilutive common shares would be anti-dilutive. The following table sets forth the computation of basic and diluted net income/(loss) per share for the three March 31, 2017 2016, Three Months March 31, 2017 2016 Net income/(loss) $ (826 ) $ 19 Shares used to compute basic net income/(loss) per share 7,189 7,125 Dilutive potential common shares: Stock options - 68 Shares used to compute diluted net income/(loss) per share 7,189 7,193 Basic net income/(loss) per share $ (0.11 ) $ 0.00 Diluted net income/(loss) per share $ (0.11 ) $ 0.00 For the three March 31, 2017, 986,000 For the three March 31, 2016, 467,541 |
Note 4 - Investments
Note 4 - Investments | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4. Investments Onvia classifies investments in debt securities as available-for-sale, stated at fair value as summarized in the following tables (in thousands): March 31, 2017 Amortized Gross Gross Fair Value Short-Term Investments Certificates of Deposit (1) $ 4,302 $ - $ - $ 4,302 Total Short-Term Investments 4,302 - - 4,302 Long-Term Investments Certificates of Deposit (1) $ 92 $ - $ - $ 92 Total Long-Term Investments 92 - - 92 Total Investments $ 4,394 $ - $ - $ 4,394 December 31, 2016 Amortized Gross Gross Fair Value U.S. Government backed securities $ 110 $ - $ - $ 110 Certificates of Deposit (1) 4,707 $ - $ - 4,707 Total Investments $ 4,817 $ - $ - $ 4,817 (1) March 31, 2017 December 31, 2016 . Onvia accounts for investments held as available for sale according to their fair values, which is 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. The Company utilizes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following are the 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, investments classified as available-for-sale at March 31, 2017 December 31, 2016, Fair Value Measurements as of March 31, 2017 Level 1 Level 2 Level 3 Total Certificates of Deposit $ - $ 4,394 $ - $ 4,394 Total Investments $ - $ 4,394 $ - $ 4,394 Fair Value Measurements as of December 31, 2016 Level 1 Level 2 Level 3 Total U.S. Government backed securities $ - $ 110 $ - $ 110 Certificates of Deposit - 4,707 - 4,707 Total Investments $ - $ 4,817 $ - $ 4,817 There were no transfers in or out of Level 2 first 2017 fourth 2016, 3 |
Note 5 - Prepaid Expenses and O
Note 5 - Prepaid Expenses and Other Current Assets | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Other Current Assets [Text Block] | 5. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following (in thousands): March 31, December 31, 2017 2016 Prepaid software maintenance agreements $ 541 $ 630 Other prepaid expenses 272 133 Prepaid insurance 259 107 Other receivables 83 78 Prepaid rent 76 76 Interest receivable 13 11 $ 1,244 $ 1,035 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6. Property and Equipment Property and equipment to be held and used consist of the following (in thousands): March 31, December 31, 2017 2016 Computer equipment $ 3,765 $ 3,822 Software 1,805 1,805 Furniture and fixtures 119 119 Leasehold improvements 815 815 Total cost basis 6,504 6,561 Less accumulated depreciation and amortization (5,755 ) (5,717 ) Net book value $ 749 $ 844 Depreciation expense was $115,000 $142,000 three March 31, 2017 2016, |
Note 7 - Internal Use Software
Note 7 - Internal Use Software | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Internal Use Software Disclosure [Text Block] | 7. Internal Use Software Onvia capitalizes qualifying computer software costs incurred during the “application development stage” and other costs. 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. No impairment has been recorded during the three March 31, 2017 December 31, 2016. During 2016 $962,000 first 2017, $216,000 two 2017, $300,000 The following table presents a roll-forward of capitalized internal use software for the three March 31, 2017 Balance at Additions Balance at Capitalized internal use software $ 21,213 $ 766 $ 21,979 Accumulated amortization (15,733 ) (654 ) (16,387 ) $ 5,480 $ 112 $ 5,592 Amortization expense was $654,000 $358,000 three March 31, 2017 2016, |
Note 8 - Accrued Expenses and O
Note 8 - Accrued Expenses and Other Current Liabilities | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 8. Accrued Expenses and Other Current Liabilities Accrued expenses consist of the following (in thousands): March 31, December 31, 2017 2016 Payroll and related liabilities $ 1,255 $ 1,430 Taxes payable and other 53 104 $ 1,308 $ 1,534 Other current liabilities consist of the following (in thousands): March 31, December 31, 2017 2016 Deferred rent, current portion $ 113 $ 107 Obligations under capital leases, current portion 27 27 $ 140 $ 134 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9. Commitments and Contingencies 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 $197,000 $193,000 three March 31, 2017 2016, As of March 31, 2017, December 31 Real Estate Office Equipment Total Operating Leases Operating Lease Operating Leases 2017 655 14 669 2018 896 20 916 2019 918 10 928 2020 940 - 940 2021 320 - 320 $ 3,729 $ 44 $ 3,773 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 2019. December 31 Purchase Obligations 2017 $ 298 2018 364 $ 662 Employment Agreement with Current CEO and President On December 30, 2016 January 30, 2017. Under the terms of the Employment Agreement, Mr. Mann will have an annual base salary of $325,000 75% 50,000 first six 100,000 three 125,000 25,000 first first 50,000 two 50,000 140,000 25,000 The Employment Agreement provides that, if the Company terminates Mr. Mann’s employment without cause or he resigns for good reason, subject to his execution and non-revocation of a release of claims, the Company will pay him, in addition to his previously-accrued compensation, the following severance: (i) base salary for twelve twelve 2018 Transition Agreement for Former CEO On March 28, 2016, January 30, 2017 Under the terms of the Transition Agreement, Mr. Riner continued to serve as the Company’s President and Chief Executive Officer on a full-time basis through the Transition Date and, unless terminated for cause, will continue to (i) receive his full annual base salary through June 30, 2017; September 30, 2017; 2016 50% 2016 150 12 In exchange for Mr. 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 Mr. 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. Legal Proceedings From time to time, legal proceedings may |
Note 10 - Income Taxes
Note 10 - Income Taxes | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 10. Income Taxes As of March 31, 2017 December 31, 2016, may may Pursuant to Section 382 1986, 50 three As of March 31, 2017 December 31, 2016, $77.5 382 2021. 2035. |
Note 11 - Security Deposits
Note 11 - Security Deposits | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Lease Security Deposit [Text Block] | 11. Security Deposits 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 in the amount of $150,000. April 2021, March 31, 2017, $150,000 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation In this report, when we refer to “Onvia,” the “Company” “we,” “our,” or “us,” we are referring to Onvia, Inc. The unaudited interim Condensed Consolidated Financial Statements and related notes thereto have been prepared pursuant to generally accepted accounting principles in the United States of America, (“GAAP”), and the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. The accompanying unaudited interim Condensed Consolidated Financial Statements and related notes thereto should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10 December 31, 2016 (“2016 The information furnished is unaudited, but reflects, in the opinion of management, all adjustments, consisting of only normal recurring items, necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with 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, capitalization of costs for internally developed software, recoverability of long-lived assets, including internally developed software, and the valuation allowance for Onvia’s 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 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements In May 2014, 2014 09 2014 09”) revenue from contracts with customers five 1) 2) 3) 4) 5) first 2018 first 2017. 2014 09, 2014 09, In February 2016, 12 December 15, 2018. may |
Note 2 - Stock-based Compensa18
Note 2 - Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three Months Ended March 31, 2017 2016 Sales and marketing $ (14 ) $ 12 Technology and development 8 13 General and administrative 123 23 Total stock-based compensation $ 117 $ 48 |
Note 3 - Earnings (Loss) Per 19
Note 3 - Earnings (Loss) Per Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Weighted Average Number of Shares [Table Text Block] | Three Months March 31, 2017 2016 Net income/(loss) $ (826 ) $ 19 Shares used to compute basic net income/(loss) per share 7,189 7,125 Dilutive potential common shares: Stock options - 68 Shares used to compute diluted net income/(loss) per share 7,189 7,193 Basic net income/(loss) per share $ (0.11 ) $ 0.00 Diluted net income/(loss) per share $ (0.11 ) $ 0.00 |
Note 4 - Investments (Tables)
Note 4 - Investments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | March 31, 2017 Amortized Gross Gross Fair Value Short-Term Investments Certificates of Deposit (1) $ 4,302 $ - $ - $ 4,302 Total Short-Term Investments 4,302 - - 4,302 Long-Term Investments Certificates of Deposit (1) $ 92 $ - $ - $ 92 Total Long-Term Investments 92 - - 92 Total Investments $ 4,394 $ - $ - $ 4,394 December 31, 2016 Amortized Gross Gross Fair Value U.S. Government backed securities $ 110 $ - $ - $ 110 Certificates of Deposit (1) 4,707 $ - $ - 4,707 Total Investments $ 4,817 $ - $ - $ 4,817 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements as of March 31, 2017 Level 1 Level 2 Level 3 Total Certificates of Deposit $ - $ 4,394 $ - $ 4,394 Total Investments $ - $ 4,394 $ - $ 4,394 Fair Value Measurements as of December 31, 2016 Level 1 Level 2 Level 3 Total U.S. Government backed securities $ - $ 110 $ - $ 110 Certificates of Deposit - 4,707 - 4,707 Total Investments $ - $ 4,817 $ - $ 4,817 |
Note 5 - Prepaid Expenses and21
Note 5 - Prepaid Expenses and Other Current Assets (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | March 31, December 31, 2017 2016 Prepaid software maintenance agreements $ 541 $ 630 Other prepaid expenses 272 133 Prepaid insurance 259 107 Other receivables 83 78 Prepaid rent 76 76 Interest receivable 13 11 $ 1,244 $ 1,035 |
Note 6 - Property and Equipme22
Note 6 - Property and Equipment (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | March 31, December 31, 2017 2016 Computer equipment $ 3,765 $ 3,822 Software 1,805 1,805 Furniture and fixtures 119 119 Leasehold improvements 815 815 Total cost basis 6,504 6,561 Less accumulated depreciation and amortization (5,755 ) (5,717 ) Net book value $ 749 $ 844 |
Note 7 - Internal Use Software
Note 7 - Internal Use Software (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Capitalized Internal Use Software Roll Forward [Table Text Block] | Balance at Additions Balance at Capitalized internal use software $ 21,213 $ 766 $ 21,979 Accumulated amortization (15,733 ) (654 ) (16,387 ) $ 5,480 $ 112 $ 5,592 |
Note 8 - Accrued Expenses and24
Note 8 - Accrued Expenses and Other Current Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | March 31, December 31, 2017 2016 Payroll and related liabilities $ 1,255 $ 1,430 Taxes payable and other 53 104 $ 1,308 $ 1,534 |
Schedule of Other Assets and Other Liabilities [Table Text Block] | March 31, December 31, 2017 2016 Deferred rent, current portion $ 113 $ 107 Obligations under capital leases, current portion 27 27 $ 140 $ 134 |
Note 9 - Commitments and Cont25
Note 9 - Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Real Estate Office Equipment Total Operating Leases Operating Lease Operating Leases 2017 655 14 669 2018 896 20 916 2019 918 10 928 2020 940 - 940 2021 320 - 320 $ 3,729 $ 44 $ 3,773 |
Long-term Purchase Commitment [Table Text Block] | Purchase Obligations 2017 $ 298 2018 364 $ 662 |
Note 2 - Stock-based Compensa26
Note 2 - Stock-based Compensation - Impact on Results of Operations for Recording Stock-based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Stock-based compensation | $ 117 | $ 48 |
Selling and Marketing Expense [Member] | ||
Stock-based compensation | (14) | 12 |
Technology and Development [Member] | ||
Stock-based compensation | 8 | 13 |
General and Administrative Expense [Member] | ||
Stock-based compensation | $ 123 | $ 23 |
Note 3 - Earnings (Loss) Per 27
Note 3 - Earnings (Loss) Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 986,000 | 467,541 |
Note 3 - Earnings (Loss) Per 28
Note 3 - Earnings (Loss) Per Share - Basic and Diluted Net Income (Loss) Per Share Calculation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net income/(loss) | $ (826) | $ 19 |
Shares used to compute basic net income/(loss) per share (in shares) | 7,189 | 7,125 |
Stock options (in shares) | 68 | |
Shares used to compute diluted net income/(loss) per share (in shares) | 7,189 | 7,193 |
Basic net income/(loss) per share (in dollars per share) | $ (0.11) | $ 0 |
Diluted net income/(loss) per share (in dollars per share) | $ (0.11) | $ 0 |
Note 4 - Investments - Availabl
Note 4 - Investments - Available-for-sale Debt Securities at Fair Value (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | ||
Amortized Cost | $ 4,394 | $ 4,817 | |
Gross Unrealized Gains | |||
Gross Unrealized Losses | |||
Fair Value | 4,394 | 4,817 | |
Short-term Investments [Member] | |||
Amortized Cost | 4,302 | ||
Gross Unrealized Gains | |||
Gross Unrealized Losses | |||
Fair Value | 4,302 | ||
Short-term Investments [Member] | Certificate of Deposit [Member] | |||
Amortized Cost | [1] | 4,302 | 4,707 |
Gross Unrealized Gains | [1] | ||
Gross Unrealized Losses | [1] | ||
Fair Value | [1] | 4,302 | 4,707 |
Short-term Investments [Member] | US Government Agencies Debt Securities [Member] | |||
Amortized Cost | 110 | ||
Gross Unrealized Gains | |||
Gross Unrealized Losses | |||
Fair Value | $ 110 | ||
Long-term Investments [Member] | |||
Amortized Cost | 92 | ||
Gross Unrealized Gains | |||
Gross Unrealized Losses | |||
Fair Value | 92 | ||
Long-term Investments [Member] | Certificate of Deposit [Member] | |||
Amortized Cost | [1] | 92 | |
Gross Unrealized Gains | [1] | ||
Gross Unrealized Losses | [1] | ||
Fair Value | [1] | $ 92 | |
[1] | The Company evaluated certificates of deposits held as of March 31, 2017 and December 31, 2016 and concluded that they meet the definition of securities as available for sale. |
Note 4 - Investments - Availa30
Note 4 - Investments - Available-for-sale Debt Securities, Fair Value Measurements (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Available-for-sale securities | $ 4,394 | $ 4,817 |
Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | 4,394 | 4,817 |
Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | ||
Certificate of Deposit [Member] | ||
Available-for-sale securities | 4,394 | 4,707 |
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 | 4,394 | 4,707 |
Certificate of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities | ||
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | 110 | |
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 | |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale securities |
Note 5 - Prepaid Expenses and31
Note 5 - Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Prepaid software maintenance agreements | $ 541 | $ 630 |
Other prepaid expenses | 272 | 133 |
Prepaid insurance | 259 | 107 |
Other receivables | 83 | 78 |
Prepaid rent | 76 | 76 |
Interest receivable | 13 | 11 |
$ 1,244 | $ 1,035 |
Note 6 - Property and Equipme32
Note 6 - Property and Equipment (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Operating Expense [Member] | ||
Depreciation | $ 115,000 | $ 142,000 |
Note 6 - Property and Equipme33
Note 6 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Computer equipment | $ 3,765 | $ 3,822 |
Software | 1,805 | 1,805 |
Furniture and fixtures | 119 | 119 |
Leasehold improvements | 815 | 815 |
Total cost basis | 6,504 | 6,561 |
Less accumulated depreciation and amortization | (5,755) | (5,717) |
Net book value | $ 749 | $ 844 |
Note 7 - Internal Use Softwar34
Note 7 - Internal Use Software (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Sep. 30, 2017 | Dec. 31, 2016 | |
Finite-lived Computer Software, Net, Subject to Reduced Estimated Remaining Useful Life | $ 962,000 | |||
Computer Software, Intangible Asset [Member] | ||||
Impairment of Intangible Assets, Finite-lived | $ 0 | $ 0 | ||
Additional Amortization from Reduction in Estimated Remaining Useful Life | 216,000 | |||
Computer Software, Intangible Asset [Member] | Operating Expense [Member] | ||||
Amortization of Intangible Assets | $ 654,000 | $ 358,000 | ||
Computer Software, Intangible Asset [Member] | Scenario, Forecast [Member] | ||||
Additional Amortization from Reduction in Estimated Remaining Useful Life | $ 300,000 | |||
Minimum [Member] | ||||
Capitalized Internal Use Software, Useful Life | 3 years | |||
Maximum [Member] | ||||
Capitalized Internal Use Software, Useful Life | 5 years |
Note 7 - Internal Use Softwar35
Note 7 - Internal Use Software - Roll-forward of Capitalized Internal Use Software (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Beginning balance, Capitalized internal use software | $ 21,213 |
Additions, Capitalized internal use software | 766 |
Ending balance, Capitalized internal use software | 21,979 |
Beginning balance, Accumulated amortization | (15,733) |
Additions, Accumulated amortization | (654) |
Ending balance, Accumulated amortization | (16,387) |
Beginning balance, Internal use software, net | 5,480 |
Additions, Internal use software, net | 112 |
Ending balance, Internal use software, net | $ 5,592 |
Note 8 - Accrued Expenses and36
Note 8 - Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Payroll and related liabilities | $ 1,255 | $ 1,430 |
Taxes payable and other | 53 | 104 |
$ 1,308 | $ 1,534 |
Note 8 - Accrued Expenses and37
Note 8 - Accrued Expenses and Other Current Liabilities - Summary of Other Current Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Deferred rent, current portion | $ 113 | $ 107 |
Obligations under capital leases, current portion | 27 | 27 |
$ 140 | $ 134 |
Note 9 - Commitments and Cont38
Note 9 - Commitments and Contingencies (Details Textual) - USD ($) | Jan. 30, 2018 | Jan. 30, 2017 | Dec. 30, 2016 | Mar. 31, 2017 | Mar. 31, 2016 | Mar. 28, 2016 |
Operating Leases, Rent Expense | $ 197,000 | $ 193,000 | ||||
Chief Executive Officer [Member] | ||||||
Annual Base Salary | $ 325,000 | |||||
Annual Bonus, Target Percentage of Base Salary | 75.00% | |||||
Stock Issued During Period, Shares, New Issues | 25,000 | |||||
Common Stock, Maximum Number of Shares Available for Purchase | 140,000 | |||||
Deferred Compensation Arrangement with Individual, Term for Base Salary | 1 year | |||||
Deferred Compensation Arrangement with Individual, Term for Health Benefit Continuation | 1 year | |||||
Chief Executive Officer [Member] | Subject to Forfeiture [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 50,000 | |||||
Stock Issued During Period, Shares, New Issues, Forfeiture Period | 180 days | |||||
Chief Executive Officer [Member] | Nonqualified Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 100,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
Chief Executive Officer [Member] | Nonqualified Stock Option [Member] | Based on Performance Criteria [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 125,000 | |||||
Chief Executive Officer [Member] | Nonqualified Stock Option [Member] | Vesting in Two Tranches [Member] | Scenario, Forecast [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 50,000 | |||||
Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 25,000 | |||||
Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Scenario, Forecast [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 50,000 | |||||
Mr. Riner [Member] | ||||||
Compensation Arrangement With Individual, Percent of Base Salary Earned if Performance Targets are Met | 50.00% | |||||
Duration of Period Where Individual Will be Available to Company as a Consultant | 1 year | |||||
Former Chief Executive Officer [Member] | ||||||
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount | $ 362,000 |
Note 9 - Commitments and Cont39
Note 9 - Commitments and Contingencies - Remaining Future Minimum Operating Lease Payments (Details) $ in Thousands | Mar. 31, 2017USD ($) |
2,017 | $ 669 |
2,018 | 916 |
2,019 | 928 |
2,020 | 940 |
2,021 | 320 |
3,773 | |
Real Estate Operating Leases [Member] | |
2,017 | 655 |
2,018 | 896 |
2,019 | 918 |
2,020 | 940 |
2,021 | 320 |
3,729 | |
Office Equipment Operating Lease [Member] | |
2,017 | 14 |
2,018 | 20 |
2,019 | 10 |
2,020 | |
2,021 | |
$ 44 |
Note 9 - Commitments and Cont40
Note 9 - Commitments and Contingencies - Non-cancellable Purchase Obligations for Software Development and License Agreements (Details) $ in Thousands | Mar. 31, 2017USD ($) |
2,017 | $ 298 |
2,018 | 364 |
$ 662 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) $ in Millions | Mar. 31, 2017 | Dec. 31, 2016 |
Operating Loss Carryforwards | $ 77.5 | $ 77.5 |
Note 11 - Security Deposits (De
Note 11 - Security Deposits (Details Textual) | Mar. 31, 2017USD ($) |
Other Noncurrent Assets [Member] | |
Security Deposit | $ 150,000 |
Secured by Standby Letter of Credit [Member] | |
Letters of Credit Outstanding, Amount | $ 150,000 |