v3.21.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash $ 9,241 $ 3,234
Restricted cash 78,879 47,231
Accounts receivable, net of allowances of $574 and $803, respectively 41,321 37,993
Prepaid expenses and other current assets 3,500 3,897
Current portion of notes receivable, net of allowances of $467 and $0, respectively 2,190 1,326
Settlement assets 753 533
Total current assets 135,884 94,214
Notes receivable, less current portion 5,527 4,395
Property, equipment and software, net 22,875 23,518
Goodwill 106,832 109,515
Intangible assets, net 98,057 182,826
Deferred income tax assets, net 46,697 49,657
Other non-current assets 1,957 380
Total assets 417,829 464,505
Current liabilities:    
Accounts payable and accrued expenses 29,821 26,965
Accrued residual commissions 23,824 19,315
Customer deposits and advance payments 2,883 4,928
Current portion of long-term debt 19,442 4,007
Settlement obligations 72,878 37,789
Total current liabilities 148,848 93,004
Long-term debt, net of current portion, discounts and deferred financing costs 357,873 485,578
Other non-current liabilities 9,672 6,612
Total non-current liabilities 367,545 492,190
Total liabilities 516,393 585,194
Commitments and contingencies
Stockholders' deficit:    
Preferred stock, par value $0.001 per share; 100,000,000 authorized; zero shares issued and outstanding at December 31, 2020 and 2019. 0 0
Common stock, par value of $0.001 per share; 1.0 billion shares authorized; 67,842,204 shares issued and 67,390,980 shares outstanding at December 31, 2020; and 67,512,167 shares issued and 67,060,943 shares outstanding at December 31, 2019. 68 68
Additional paid-in capital 5,769 3,651
Treasury stock, at cost (451,224 shares) (2,388) (2,388)
Accumulated deficit (102,013) (127,674)
Total deficit attributable to stockholders of Priority Technology Holdings, Inc. (98,564) (126,343)
Non-controlling interest 0 5,654
Total stockholders' deficit (98,564) (120,689)
Total liabilities and stockholders' deficit $ 417,829 $ 464,505

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