v3.20.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current Assets:    
Cash $ 2,858 $ 3,234
Restricted cash 36,873 47,231
Accounts receivable, net of allowance for doubtful accounts of $989 and $803 37,362 37,993
Prepaid expenses and other current assets 3,445 3,897
Current portion of notes receivable 1,266 1,326
Settlement assets 456 533
Total current assets 82,260 94,214
Notes receivable, less current portion 5,382 4,395
Property, equipment, and software, net 24,060 23,518
Goodwill 109,515 109,515
Intangible assets, net 175,303 182,826
Deferred income taxes, net 50,890 49,657
Other non-current assets 509 380
Total assets 447,919 464,505
Current liabilities:    
Accounts payable and accrued expenses 24,413 26,965
Accrued residual commissions 18,326 19,315
Customer deposits and advance payments 3,281 4,928
Current portion of long-term debt 7,866 4,007
Settlement obligations 30,665 37,789
Total current liabilities 84,551 93,004
Long-term debt, net of current portion, discounts and debt issuance costs 483,319 485,578
Other non-current liabilities 6,269 6,612
Total long-term liabilities 489,588 492,190
Total liabilities 574,139 585,194
Commitments and Contingencies (Notes 10 and 11)
Stockholders' deficit:    
Preferred stock 0 0
Common stock 68 68
Additional paid-in capital 3,989 3,651
Treasury stock, 451,224 common shares, at cost (2,388) (2,388)
Accumulated deficit (133,543) (127,674)
Total Priority Technology Holdings, Inc. stockholders' deficit (131,874) (126,343)
Non-controlling interest in a subsidiary 5,654 5,654
Total stockholders' deficit (126,220) (120,689)
Total liabilities and stockholders' deficit $ 447,919 $ 464,505

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