Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 16,237 $ 16,103
Restricted cash 20,810 20,894
Short-term investments 3,079 5,124
Trade receivables, net 36,307 39,509
Prepaid expenses 1,246 648
Other current assets 2,757 4,224
Total current assets 80,436 86,502
Property and equipment, net 3,888 3,393
Intangible assets, net 8,665 9,353
Goodwill 16,370 16,953
Other long-term assets 2,082 1,203
Total Assets 111,441 117,404
Current liabilities:    
Accounts payable 56,674 63,320
Debt for forward share purchase agreements 31,530 34,013
Notes payable 2,113 1,667
Notes payable due to related parties 13,115 9,411
Lines of credit 5,278 3,627
Current portion of bank and other borrowings 5,925 7,564
Deferred revenue 1,538 1,397
Preference shares 1 683
Preference shares due to related parties 1 1,847
Payroll and payroll related accrued liabilities 2,929 1,038
Other current liabilities 2,023 1,379
Total current liabilities 121,127 125,946
Long-term portion of bank and other borrowings 20,621 16,134
Long-term portion of notes payable due to related parties 3,750 7,500
Long-term portion of employee benefit obligation 1,341 1,398
Deferred tax liabilities 1,638 2,045
Other long-term liabilities 4,599 3,155
Total Liabilities 153,076 156,178
Commitments and contingencies (Note 13)
Stockholders’ equity (deficit):    
Preferred stock, par value of $0.0001 per share; 1,000,000 shares authorized; no shares issued or outstanding
Common stock, par value of $0.0001 per share; 100,000,000 shares authorized as of March 31, 2020 and December 31, 2019; 20,254,217 shares issued and 20,019,048 shares outstanding as of March 31, 2020 and 19,977,113 shares issued and outstanding as of December 31, 2019 2 2
Additional paid-in capital 11,190 2,143
Treasury stock, at cost; 235,169 and 0 shares as of March 31, 2020 and December 31, 2019, respectively (2,587)  
Accumulated other comprehensive income (loss) (424) 74
Accumulated deficit (49,816) (40,993)
Total stockholders’ equity (deficit) (41,635) (38,774)
Total liabilities and stockholders’ equity (deficit) $ 111,441 $ 117,404