0001654954-19-004395.txt : 20190415 0001654954-19-004395.hdr.sgml : 20190415 20190415160830 ACCESSION NUMBER: 0001654954-19-004395 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 92 CONFORMED PERIOD OF REPORT: 20181231 FILED AS OF DATE: 20190415 DATE AS OF CHANGE: 20190415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VASO Corp CENTRAL INDEX KEY: 0000839087 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 112871434 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18105 FILM NUMBER: 19748693 BUSINESS ADDRESS: STREET 1: 137 COMMERCIAL STREET, STE. 200 CITY: PLAINVIEW STATE: NY ZIP: 11803 BUSINESS PHONE: 516-997-4600 MAIL ADDRESS: STREET 1: 137 COMMERCIAL STREET, STE. 200 CITY: PLAINVIEW STATE: NY ZIP: 11803 FORMER COMPANY: FORMER CONFORMED NAME: VASOMEDICAL, INC DATE OF NAME CHANGE: 20120606 FORMER COMPANY: FORMER CONFORMED NAME: VASOMEDICAL INC DATE OF NAME CHANGE: 19950517 FORMER COMPANY: FORMER CONFORMED NAME: FUTURE MEDICAL PRODUCTS INC /DE/ DATE OF NAME CHANGE: 19920703 10-K 1 vaso_10k.htm ANNUAL REPORT Blueprint
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 
FORM 10-K
 
[X] 
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2018
[ ] 
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
Commission File No. 0-18105
 
VASO CORPORATION
(Exact name of registrant as specified in Its Charter)
 
Delaware
11-2871434
(State or other jurisdiction of
(IRS Employer
incorporation or organization)
Identification No.)
 
 
 
137 Commercial Street, Plainview, New York
11803
(Address of Principal Executive Offices)
(Zip Code)
 
Registrant’s telephone number, including area code: (516) 997-4600
Securities registered under Section 12(b) of the Act: None
Securities registered under Section 12(g) of the Act:
 
Common Stock, $.001 par value
(Title of Class)
 
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
Yes [ ]       
No [ X ]
 
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
Yes [ ]        
No [ X ]
 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes [ X ]       
No [ ]
 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files)
Yes [ X]                No [ ]
 
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ X ]
 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
 
Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [X] Smaller reporting company [X]
Emerging growth company [ ]
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [ X ]
 
The aggregate market value of common stock held by non-affiliates was approximately $6.0 million based on the closing sales price of the common stock as quoted on the OTC PK on June 29, 2018.
 
At March 31, 2019, the number of shares outstanding of the issuer's common stock was 167,109,200.


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
{THIS PAGE LEFT INTENTIONALLY BLANK}
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
VASO CORPORATION
INDEX TO FORM 10-K
 
 
 
 Page
 
 
 
 
 
 


 
 
 
 
 
 
 
 
 
 
 
 
EXHIBITS
 
Exhibit 31 Certifications Pursuant to Securities Exchange Act Rule 13A-14(A)/15D-14(A)
Exhibit 32  Certifications of Periodic Report
 
 
 
 
- i -
 
 
PART I
 
ITEM 1 – BUSINESS
 
Except for historical information contained in this report, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this report, words such as “anticipates”, “believes”, “could”, “estimates”, “expects”, “may”, “plans”, “potential” and “intends” and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the effect of the dramatic changes taking place in IT and healthcare; continuation of the GEHC agreements; the impact of competitive technology and products and their pricing; medical insurance reimbursement policies; unexpected manufacturing or supplier problems; unforeseen difficulties and delays in the conduct of clinical trials and other product development programs; the actions of regulatory authorities and third-party payers in the United States and overseas; and the risk factors reported from time to time in the Company’s SEC reports. The Company undertakes no obligation to update forward-looking statements as a result of future events or developments.
 
Unless the context requires otherwise, all references to “we”, “our”, “us”, “Company”, “registrant”, “Vaso” or “management” refer to Vaso Corporation and its subsidiaries.
 
General Overview
 
Vaso Corporation principally operates in three distinct business segments in the healthcare equipment and information technology industries. We manage and evaluate our operations, and report our financial results, through these three business segments.
 
IT segment, operating through a wholly-owned subsidiary VasoTechnology, Inc., primarily focuses on healthcare IT and managed network technology services;
 
Professional sales service segment, operating through a wholly-owned subsidiary Vaso Diagnostics, Inc. d/b/a VasoHealthcare, primarily focuses on the sale of healthcare capital equipment for General Electric Healthcare (“GEHC”) into the health provider middle market; and
 
Equipment segment, primarily focuses on the design, manufacture, sale and service of proprietary medical devices, operating through a wholly-owned subsidiary VasoMedical, Inc., which in turn operates through Vasomedical Solutions, Inc. for domestic business and Vasomedical Global Corp. for international business, respectively.
 
VasoTechnology
 
VasoTechnology, Inc. was formed in May 2015, at the time the Company acquired all of the assets of NetWolves, LLC and its affiliates, including the membership interests in NetWolves Network Services LLC (collectively, “NetWolves”), to address a major issue facing the healthcare IT industry. It currently consists of a managed network and security service division (NetWolves) and a healthcare IT application VAR (value added reseller) division (VasoHealthcare IT). Its current offering includes:
 
Managed diagnostic imaging applications (national channel partner of GEHC IT).
Managed network infrastructure (routers, switches and other core equipment).
Managed network transport (FCC licensed carrier reselling 175+ facility partners).
Managed security services (partner with major cybersecurity technologies firms including IBM and Palo Alto).
 
VasoTechnology uses a combination of proprietary technology, methodology and best-in-class third-party applications to deliver its value proposition.
 
 
2
 
 
VasoHealthcare
 
VasoHealthcare commenced operations in 2010, in conjunction with the Company’s execution of its exclusive sales representation agreement with GEHC, which is the healthcare business division of the General Electric Company (“GE”), to further the sale of certain medical capital equipment in domestic market segments. Sales of GEHC equipment by the Company have grown significantly since then.
 
VasoHealthcare’s current offering consists of:
 
GEHC diagnostic imaging capital equipment.
GEHC service agreements for the above equipment.
GEHC and third party financial services for the above equipment.
 
VasoHealthcare has built a team of over 80 highly experienced sales professionals who utilize proprietary sales management and analytic tools to manage the complete sales process and to increase market penetration.
 
VasoMedical
 
The proprietary medical equipment business now all under VasoMedical dates back to 1995 when the Company began the external counterpulsation technology in the United States. Vasomedical Global was formed in 2011 to combine and coordinate the various international operations including design, development, manufacturing, and sales of medical devices, while domestic activities are under Vasomedical Solutions. These devices primarily consist of cardiovascular diagnostic and therapeutic systems. Its current offering consists of:
 
Biox™ series Holter monitors and ambulatory blood pressure recorders.
ARCS™ series analysis, reporting and communication software for physiological signals such as ECG and blood pressure.
MobiCare™ multi-parameter wireless vital-sign monitoring system.
EECP® therapy systems, used for non-invasive, outpatient treatment of ischemic heart disease.
 
This segment uses its extensive cardiovascular device knowledge coupled with its engineering resources to cost effectively create and market its proprietary technology. It sells and services its products to domestic customers directly and sells and/or services its products in the international market mainly through independent distributors.
 
Historical Background
 
Vaso Corporation was incorporated in Delaware in July 1987. For most of its history, the Company primarily was a single-product company designing, manufacturing, marketing and servicing its proprietary Enhanced External Counterpulsation, or EECP®, therapy systems, mainly for the treatment of angina. In 2010 it began to diversify its business operations. The Company changed its name to Vaso Corporation in 2016 to more accurately reflect the diversified nature of its business mixture, and continues to use the original name VasoMedical for its proprietary medical device subsidiary.
 
In May 2010, the Company launched its Professional Sales Service business through a wholly-owned subsidiary Vaso Diagnostics, Inc. d/b/a VasoHealthcare, which was appointed the exclusive representative for the sale of select GE diagnostic imaging equipment to specific market segments in the 48 contiguous states of the United States and the District of Columbia. The original agreement (“GEHC Agreement”) was for three years ending June 30, 2013; it has been extended several times with the current extension through December 31, 2022, subject to earlier termination under certain circumstances.
 
 
3
 
 
In June 2014, the Company began its IT segment business by concluding the Value Added Reseller Agreement (“VAR Agreement”) with GEHC to become a national value added reseller of GEHC Digital’s software solutions such as Picture Archiving and Communication System (“PACS”), Radiology Information System (“RIS”), and related services, including implementation, training, management and support. This multiyear VAR Agreement focuses primarily on existing customer segments currently served by VasoHealthcare on behalf of GEHC. A new wholly owned subsidiary, VasoHealthcare IT Corp. (“VHC IT”), was formed to conduct the healthcare IT business.
 
In May 2015, the Company further expanded its IT business segment by acquiring all of the assets of NetWolves, LLC and its affiliates, including the membership interests in NetWolves Network Services, LLC (collectively, “NetWolves”), pursuant to an asset purchase agreement. NetWolves designs and delivers efficient and cost-effective multi-network and multi-technology solutions as a managed network provider, and provides a complete single-source solution that includes design, network redundancy, application device management, real-time network monitoring, reporting and support systems as a comprehensive solution. The Company believes there are significant operational synergies between NetWolves’ capabilities and VasoHealthcare IT’s requirements under its VAR Agreement with GEHC, and has expanded NetWolves’ existing services to the healthcare IT market.
 
The Company’s Equipment business also has been significantly expanded from the original EECP®-only operations. In September 2011, the Company acquired FGE, a British Virgin Islands company, which owns or controls two Chinese operating companies - Life Enhancement Technology Ltd. (“LET”) based in Foshan, China, and Biox Instruments Co. Ltd. (“Biox”) based in Wuxi, China, respectively - to expand its technical and manufacturing capabilities and to enhance its distribution network, technology, and product portfolio. Biox is a variable interest entity (“VIE”) controlled by FGE through certain contracts and an option to acquire all the shares of Biox. In August 2014, the Company acquired all of the outstanding shares of Genwell Instruments Co. Ltd. (“Genwell”), located in Wuxi, China. Genwell was formed in China in 2010 with the assistance of a government grant to develop the MobiCare™ wireless multi-parameter patient monitoring system and holds intellectual property rights for this system. As a result, the Company has now expanded its equipment products portfolio to include Biox™ series ambulatory patient monitoring systems, ARCS™ series software for ECG and blood pressure analysis, and the MobiCare™ patient monitoring device. In 2017, as an effort to further reduce engineering and production cost of its EECP® products, the Company moved the operations of LET from Foshan, China to Biox in Wuxi, China, and closed LET in 2018.
 
In April 2014, the Company entered into a cooperation agreement with Chongqing PSK-Health Sci-Tech Development Co., Ltd. (“PSK”) of Chongqing, China, the leading manufacturer of external counter pulsation, or ECP, therapy systems in China, to form a joint venture company, VSK Medical Limited (“VSK”), a Cayman Islands company, for the global marketing, sale and advancement of ECP therapy technology. The Company owns 49.9% of VSK, which commenced operations in January 2015. In March 2018, the Company terminated the cooperation agreement with PSK and sold its shares in VSK to PSK. The Company continues to cooperate with VSK by granting it distribution rights for EECP® systems in certain geographic territories of the world.
 
Management
 
The Company currently bases its headquarters in Plainview, Long Island, NY and maintains an office in Manhattan, NY. Reporting to the Board of Directors, corporate officers of the Company include the President and Chief Executive Officer (“CEO”), Chief Financial Officer (“CFO”), Chief Operating Officer (“COO”), and Vice President of Finance and Treasurer.
 
The management of the Company’s IT segment is led by the COO of the Company, who is also the President of VasoTechnology and NetWolves, which is based in Tampa, FL. Our VasoHealthcare IT VAR business is organized as a part of VasoTechnology and is also led by the COO, supported by several software solution sales and implementation specialists, based in Nashville, TN. The business unit works with our VasoHealthcare diagnostic imaging equipment sales team to generate leads and potential clients for the software solutions products and works with NetWolves sales and technical teams for comprehensive IT product and service offerings.
 
 
4
 
 
In the professional sales services segment, we sell GEHC diagnostic imaging products to our assigned market through a nationwide team of approximately 65 sales employees led by its executive team and nine regional managers who report to the President of VasoHealthcare. The operation is also supported by in-house administrative, analytic and other support staff, as well as applicable GEHC employees.
 
The equipment segment is under the direct supervision of the CEO of the Company. Sales and marketing efforts in the domestic market are led by a Vice President of national sales and service at Vasomedical Solutions, and the managers of our China subsidiaries are in charge of the development and production of all our proprietary products and marketing and sales in the international markets. We have marketed our EECP® systems internationally through distributors, including VSK Medical, in various countries throughout Europe, the Middle East, Africa, Asia and Latin America. We sell our Biox™ series and other products in China by a group of sales managers as well as through distributors covering various regions of China and other international geographies.
 
Competition
 
In the U.S. diagnostic imaging market where we sell GE products, our main competitors include Siemens, Philips, Canon, and Hologic. Key competitive factors in the market include price, quality, finance availability, delivery speed, service and support, innovation, distribution network, breadth of product and service offerings and brand name recognition. GEHC is a leading competitor in this market.
 
In the IT segment, our primary competitors in the healthcare IT VAR business are Agfa Healthcare, McKesson, Philips, Carestream Health and other independent software providers. Key competitive factors are brand recognition, quality, radiology workflow solutions, scalability and service and support capability. We are able to capitalize on the brand recognition of GEHC, a leader in healthcare software solutions. In the managed network services business our primary competition includes, but is not limited to, organizations who have a presence in most of the major markets for the following products and services: network services, managed services, security services and healthcare applications. Several of those competitors, many of which are our vendors, are: Verizon, AT&T, CenturyLink, IBM and Cisco Resellers, Siemens, Epic, small regional IT integrators and large company internal IT departments.
 
Though we believe that we are the industry leader of external counterpulsation technology, our competitors in the EECP® business are Renew Group Pte. Ltd, and PSK-Health Sci-Tech Development Co., Ltd., with which we have partnered to market our EECP® products in the international market.
 
In the ambulatory monitoring system business, there are numerous competitors of various size and strength. The Biox™ series is among the few from China with CE Mark certification for Europe, CFDA approval for China, US FDA clearances as well as Brazilian Agencia Nacional de Vigilancia Sanitaria (ANVISA) approval, which are among the most important qualifications to market and sell the products around the world.
 
Regulations on Medical Devices
 
As a medical device manufacturer and marketer, we are subject to extensive regulation by numerous government regulatory agencies, including the US FDA and similar foreign agencies. We are required to comply with applicable laws, regulations and standards governing the development, preclinical and clinical testing, manufacturing, quality testing, labeling, promotion, import, export, and distribution of our medical devices.
 
Compliance with Regulations in the United States
 
The Company has received appropriate US FDA premarket notification (510(k)) clearance for all its products marketed and sold in the United States, including all EECP® therapy systems and Biox™ ambulatory monitoring systems and analysis and report software. We continue to seek US FDA clearance or approval for new products prior to their introduction to the US market.
 
 
5
 
 
We are subject to other US FDA regulations that apply prior to and after a product is commercially released. We also are subject to periodic and random inspections by the US FDA for compliance with the current Good Manufacturing Practice, or cGMP, requirements and Quality System Regulation. The US FDA also enforces post-marketing controls that include the requirement to submit medical device reports to the agency when a manufacturer becomes aware of information suggesting that any adverse events are related to its marketed products. The FDA relies on medical device reports to identify product problems and utilizes these reports to determine, among other things, whether it should exercise its enforcement powers. The FDA also may require post-market surveillance studies for specified devices.
 
We are subject to the Federal Food, Drug, and Cosmetic Act’s, or FDCA’s, general controls, including establishment registration, device listing, and labeling requirements.
 
The sales and advertising of our products is subject to regulation by the Federal Trade Commission, or FTC. The FTC Act prohibits unfair or deceptive acts or practices in or affecting commerce. Violations of the FTC Act, such as failure to have substantiation for product claims, would subject us to a variety of enforcement actions, including compulsory process, cease and desist orders and injunctions, which can require, among other things, limits on advertising, corrective advertising, consumer redress and restitution, as well as substantial fines or other penalties.
 
As a medical device sales channel partner and product reseller to healthcare facilities, we are subject to various federal, state and local laws targeting fraud and abuse in the healthcare industry, including anti-kickback and false claims laws.
 
Foreign Regulation
 
In most countries to which we seek to export our medical devices, a local regulatory clearance must be obtained. The regulatory review process varies from country to country and can be complex, costly, uncertain, and time-consuming. Our medical devices, including EECP® systems and Biox™ series products, are all manufactured in accordance with ISO 13485 (Medical device – Quality management systems – Requirement for regulatory purpose), an internationally agreed standard that sets out the requirements for a quality management system specific to the medical devices industry. All our current medical devices have obtained necessary clearances or approvals prior to their release in the appropriate jurisdictions, including CE marking certification for European Union countries, China FDA (CFDA) approval for mainland China, Korean FDA (KFDA) approval for South Korea, Agência Nacional de Vigilância Sanitária (ANVISA) approval for Brazil, Taiwan FDA (TFDA) for Taiwan, and the Saudi SFDA (MDMA) for the Kingdom of Saudi Arabia.
 
We are also subject to audits by organizations authorized by foreign countries to determine compliance with laws, regulations and standards that apply to the commercialization of our products in those markets. Examples include auditing by a European Union Notified Body organization (authorized by a member state’s Competent Authority) to determine conformity with the Medical Device Directives (MDD) and by an organization authorized by the Brazilian government to determine conformity with the ANVISA requirement.
 
Patient Privacy
 
Federal and state laws protect the confidentiality of certain patient health information, including patient records, and restrict the use and disclosure of that protected information. The U.S. Department of Health and Human Services (HHS) published patient privacy rules under the Health Insurance Portability and Accountability Act of 1996 (HIPAA privacy rule) and the regulation was finalized in October 2002. Currently, the HIPAA privacy rule affects us only indirectly in that patient data that we access, collect and analyze may include protected health information. Additionally, we have signed some Business Associate Agreements with Covered Entities that contractually bind us to protect private health information, consistent with the HIPAA privacy rule’s requirements. We do not expect the costs and impact of the HIPAA privacy rule to be material to our business.
 
 
6
 
 
Regulations in the IT Business
 
As a reseller of telecommunication services and network solutions provider, our products and services are subject to federal, state and local regulations. These regulations govern, in part, our rates and the way we conduct our business, including the requirement to offer telecommunications services pursuant to nondiscriminatory rates, terms, and conditions, the obligation to safeguard the confidentiality of customer proprietary network information, as well as the obligation to maintain specialized records and file reports with the Federal Communications Commission  and state regulatory authorities. While we believe we are in compliance with laws and regulations in jurisdictions where we do business, we continue to monitor and assess our compliance.
 
The Federal Communications Commission (“FCC”) exercises jurisdiction over services and regulates interstate and international communications in all 50 states, the District of Columbia and U.S territories. As an independent U.S. government agency overseen by Congress, the commission is the United States' primary authority for communications laws, regulation and technological innovation.
 
We maintain Certificates of Public Convenience and Necessity in all 50 states, which enable us to provide services within each state. We are therefore subject to regulation from the Public Utility Commissions in each state.
 
Intellectual Properties
 
In addition to other methods of protecting our proprietary technology, know-how and show-how as well as trade secrets, we pursue a policy of seeking patent protection, both in the US and abroad, for our proprietary technologies including those in EECP®, Biox™ and MobiCare™ products.
 
We own four US utility patents that expire at various times through 2023. We will from time to time file other patent applications regarding specific enhancements to the current EECP® models, future generation products, and methods of treatment in the future. Moreover, trademarks have been registered for the names “Vaso”, “EECP”, “AngioNew”, “Natural Bypass”, “Vasomedical”, “Vasomedical EECP”, “VasoGlobal”, “VasoSolutions”, “VasoHealthcare”.
 
Through our China-based subsidiaries, we own sixteen invention and utility patents in China that expire at various times through 2028, as well as fourteen software copyright certificates in China related to proprietary technologies in physiological data acquisition, analysis and reporting.  We also have eight registered trademarks in China for our products.
 
Through our Netwolves subsidiary we hold a patent for Secure and Remote Monitoring Management (“SRM”) and we hold trademarks “NetWolves”, “SRM”, and “Wolfpac”.
 
There can be no assurance that our patents will not be violated or that any issued patents will provide protection that has commercial significance. As with any patented technology, litigation could be necessary to protect our patent position. Such litigation can be costly and time-consuming, and there can be no assurance that we will be successful.
 
Employees
 
As of December 31, 2018, we employed 317 full-time persons, of which 15 are employed through our facility in Plainview, New York, 88 through VasoHealthcare, 15 through VasoHealthcare IT, 137 through our Netwolves operations, and 62 in our China operations. None of our employees are represented by a labor union. We believe that our employee relations are good.
 
The Company also uses several part-time employees and consultants from time to time for various purposes.
 
 
7
 
 
Manufacturing
 
The Company conducts manufacturing activities primarily through its Biox facilities in China, while maintaining certain manufacturing capability in the Plainview, NY location to satisfy certain domestic and international needs for the EECP® systems. The Biox facilities manufacture EECP® systems, ambulatory monitoring devices and other medical devices.
 
All manufacturing operations are conducted under the cGMP requirements as set forth in the FDA Quality System Regulation as well as ISO 13485 (Medical device – Quality management systems – Requirement for regulatory purpose), an internationally agreed standard that sets out the requirements for a quality management system specific to the medical devices industry. We are also certified to conform to full quality assurance system requirements of the EU Medical Device Directive (MDD 93/42/EEC Annex II) and can apply CE marking to all of our current product models. Lastly, we are certified to comply with the requirements of the Brazilian Agência Nacional de Vigilância Sanitária (ANVISA). All these regulations and standards subject us to inspections to verify compliance and require us to maintain documentation and controls for the manufacturing and quality activities.
 
We believe our manufacturing capacity and warehouse facility are adequate to meet the current and immediately foreseeable future demand for the production of our medical devices. We believe our suppliers of the other medical devices we distribute or represent are capable of meeting our demand for the foreseeable future.
 
ITEM 1A - RISK FACTORS
 
You should carefully consider the risks and uncertainties described below, together with the information included elsewhere in this Report on Form 10K. The risks and uncertainties described below are those we have identified as material, but are not the only risks and uncertainties facing us. Our business is also subject to general risks and uncertainties that affect many other companies, such as market conditions, geopolitical events, changes in laws or accounting rules, fluctuation in interest rates, terrorism, wars or conflicts, major health concerns, natural disasters or other disruptions of expected economic or business conditions. Additional risks and uncertainties not currently known to us or that we currently believe are immaterial also may impair our business, including our results of operations, liquidity and financial position.
 
Financial Risks
 
Ability to achieve profitability and meet obligations as they come due
 
We have reported a net loss of $3,734,000 for the year ended December 31, 2018 as compared to a net loss of $4,539,000 for the year ended December 31, 2017. These losses were primarily attributable to operating losses in our IT segment and lower volume of products delivered by our partner in our professional sales service segment since we cannot recognize revenue until the underlying products of orders we booked are actually delivered to customers. We maintain lines of credit from a lending institution which will require further extensions after their current June 28, 2019 maturity date. These events raise substantial doubt about our ability to continue as a going concern. Our ability to continue operating as a going concern is dependent upon achieving profitability, extending the maturity date of our existing lines of credit, or through additional debt or equity financing. Achieving profitability is largely dependent on our ability to reduce operating costs and to maintain or increase our current revenue. While we believe we will continue to maintain or increase our gross revenue and are in the process of reducing operating costs, and while historically we have received extensions of the maturity dates of our lines of credit, failure to achieve these objectives could cast doubt on our ability to continue as a going concern.
 
 
8
 
 
Risks Related to Our Business
 
We currently derive a significant amount of our revenue and segment operating income from our agreement with GEHC.
 
On May 19, 2010, we signed a sales representation agreement with GEHC. Under the GEHC Agreement, we have been appointed the exclusive representative for these products to specific market segments in the 48 contiguous states of the United States and the District of Columbia. The GEHC Agreement had an initial term of three years commencing July 1, 2010 and in 2012 was extended for two additional years to June 30, 2015. In December 2014, the agreement was extended again through December 31, 2018. In December 2017, the agreement was further extended through December 31, 2022, including the right to terminate without cause with certain conditions.
 
A significant amount of our revenue and segment operating income arise from activities under this agreement. Moreover, our growth depends partially on the territories, customer segments and product modalities assigned to us by GEHC, and thus relies on our ability to demonstrate our added value as a channel partner, and maintaining a positive relationship with GEHC. There is no assurance that the agreement will not be terminated prior to its expiration pursuant to its termination provisions, or will not extended beyond the current expiry. Should GEHC terminate the agreement, it would have a material adverse effect on our financial condition and results of operations.
 
We face competition from other companies and technologies.
 
In all segments of our business we compete with other companies that market technologies, products and services in the global marketplace. We do not know whether these companies, or other potential competitors who may succeed in developing technologies, products or services that are more efficient or effective than those offered by us, and that would render our technology and existing products obsolete or non-competitive. Potential new competitors may also have substantially greater financial, manufacturing and marketing resources than those possessed by us. In addition, other technologies or products may be developed that have an entirely different approach or means of accomplishing the intended purpose of our products. Accordingly, the life cycles of our products are difficult to estimate. To compete successfully, we must keep pace with technological advancements, respond to evolving consumer requirements and achieve market acceptance.
 
We depend on management and other key personnel.
 
We are dependent on a limited number of key management and technical personnel. The loss of one or more of our key employees may harm our business if we are unable to identify other individuals to provide us with similar services. We do not maintain “key person” insurance on any of our employees. In addition, our success depends upon our ability to attract and retain additional highly qualified management, sales, IT, manufacturing and research and development personnel in our various operations. The competition for IT personnel is intense.
 
We may not continue to receive necessary FDA clearances or approvals, which could hinder our ability to market and sell certain products.
 
If we modify our medical devices and the modifications significantly affect safety or effectiveness, or if we make a change to the intended use, we will be required to submit a new premarket notification (510(k)) or premarket approval (PMA) application to the FDA. We would not be able to market the modified device in the U.S. until the FDA issues a clearance for the 510(k).
 
If we offer new products that require 510(k) clearance or a PMA, we will not be able to commercially distribute those products until we receive such clearance or approval. Regulatory agency approval or clearance for a product may not be received or may entail limitations on the device’s indications for use that could limit the potential market for the product. Delays in receipt of, or failure to obtain or maintain, regulatory clearances and approvals, could delay or prevent our ability to market or distribute our products. Such delays could have a material adverse effect on our equipment business.
 
 
9
 
 
If we are unable to comply with applicable governmental regulations, we may not be able to continue certain of our operations.
 
As a reseller of telecommunication services and network solutions provider, our products and services are subject to federal, state and local regulations. These regulations govern, in part, our rates and the way we conduct our business, including the requirement to offer telecommunications services pursuant to nondiscriminatory rates, terms, and conditions, the obligation to safeguard the confidentiality of customer proprietary network information, as well as the obligation to maintain specialized records and file reports with the Federal Communications Commission and state regulatory authorities. While we believe we are in compliance with laws and regulations in jurisdictions where we do business, we must continue to monitor and assess our compliance.
 
We also must comply with current Good Manufacturing Practice requirements as set forth in the Quality System Regulation to receive US FDA approval to market new products and to continue to market current products. Most states also have similar regulatory and enforcement authority for medical devices.
 
Our operations in China are also subject to the laws of the People’s Republic of China with which we must be in compliance in order to conduct these operations.
 
We are subject to various federal, state and local laws targeting fraud and abuse in the healthcare industry, including anti-kickback and false claims laws.
 
We cannot predict the nature of any future laws, regulations, interpretations, or applications, nor can we predict what effect additional governmental regulations or administrative orders, either domestically or internationally, when and if promulgated, would have on our business in the future. We may be slow to adapt, or we may never adapt to changes in existing requirements or adoption of new requirements or policies. We may incur significant costs to comply with laws and regulations in the future or compliance with laws or regulations may create an unsustainable burden on our business.
 
We have foreign operations and are subject to the associated risks of doing business in foreign countries.
 
The Company continues to have operations in China. Operating internationally involves additional risks relating to such things as currency exchange rates, different legal and regulatory environments, political, economic risks relating to the stability or predictability of foreign governments, differences in the manner in which different cultures do business, difficulties in staffing and managing foreign operations, differences in financial reporting, operating difficulties, and other factors. The occurrence of any of these risks, if severe enough, could have a material adverse effect on the consolidated financial position, results of operations and cash flows of the Company.
 
Commercial law is still developing in China and there are limited legal precedents to follow in commercial transactions. There are many tax jurisdictions each of which may have changing tax laws. Applicable taxes include value added taxes (“VAT”), enterprise income tax (“EIT”), and social (payroll) taxes. Regulations are often unclear. Tax declarations (reports) are subject to review and taxing authorities may impose fines, penalties and interest. These facts create risks for our operations in China.
 
We depend on several suppliers for the supply of certain products.
 
As a GEHC channel partner, we could be negatively impacted by interruptions or delays to equipment installations, production and quality issues, and any customer concerns related to GEHC. With respect to our proprietary medical products we now manufacture our own products primarily through our China based facilities, and we depend on certain independent suppliers for parts, components and certain finished goods.
 
 
10
 
 
We may not have adequate intellectual property protection.
 
Our patents and proprietary technology may not be able to prevent competition by others. The validity and breadth of claims in technology patents involve complex legal and factual questions. Future patent applications may not be issued, the scope of any patent protection may not exclude competitors, and our patents may not provide competitive advantages to us. Our patents may be found to be invalid and other companies may claim rights in or ownership of the patents and other proprietary rights held or licensed by us. Also, our existing patents may not cover products that we develop in the future. Moreover, when our patents expire, the inventions will enter the public domain. There can be no assurance that our patents will not be violated or that any issued patents will provide protection that has commercial significance. Litigation may be necessary to protect our patent position. Such litigation may be costly and time-consuming, and there can be no assurance that we will be successful in such litigation.
 
The loss or violation of certain of our patents and trademarks could have a material adverse effect upon our business.
 
Since patent applications in the United States are maintained in secrecy until such patent applications are issued, our current product development may infringe patents that may be issued to others. If our products were found to infringe patents held by competitors, we may have to modify our products to avoid infringement, and it is possible that our modified products would not be commercially successful.
 
Risks Related to Our Industries
 
Our growth could suffer if the markets into which we sell products decline, do not grow as anticipated or experience cyclicality.
 
Our growth depends in part on the growth of the IT and healthcare markets which we serve. In our professional sales services segment, our quarterly sales and profits depend significantly on the volume and timing of delivery of the underlying equipment of the orders we booked during the quarter, and the delivery of such products is difficult to forecast since it is largely dependent on GEHC. Product demand is dependent upon the customer’s capital spending budget as well as government funding policies, and matters of public policy as well as product and economic cycles that can affect the spending decisions of these entities. These factors could adversely affect our growth, financial position, and results of operations.
 
Technological change is difficult to predict and to manage.
 
We face the challenges that are typically faced by companies in the IT and medical device fields. Our products and services may require substantial development efforts and compliance with governmental clearance or approval requirements. We may encounter unforeseen technological or scientific problems that force abandonment or substantial change in the development of a specific product or process.
 
We are subject to product liability claims and product recalls that may not be covered by insurance.
 
The nature of our manufacturing operations exposes us to risks of product liability claims and product recalls. Medical devices as complex as ours frequently experience errors or failures, especially when first introduced or when new versions are released.
 
We currently maintain product liability insurance at $8,000,000 per occurrence and $8,000,000 in the aggregate. Our product liability insurance may not be adequate. In the future, insurance coverage may not be available on commercially reasonable terms, or at all. In addition, product liability claims or product recalls could damage our reputation even if we have adequate insurance coverage.
 
We do not know the effects of healthcare reform proposals.
 
The healthcare industry is undergoing fundamental changes resulting from political, economic and regulatory influences. In the United States, the Affordable Care Act (“ACA”) is designed to provide increased access to healthcare for the uninsured, control the escalation of healthcare expenditures within the economy and use healthcare reimbursement policies to balance the federal budget.
 
 
11
 
 
The United States Congress already has changed the ACA. We expect that there could be more changes or even a repeal of the ACA. In any event, we anticipate that there will continue to be a number of federal and state proposals to constrain expenditures for medical products and services, which may affect payments for products such as ours. We cannot predict which, if any of such proposals will be adopted and when they might be effective, or the effect these proposals may have on our business. Other countries also are considering health reform. Significant changes in healthcare systems could have a substantial impact on the manner in which we conduct our business and could require us to revise our strategies.
 
Risks Related to our Securities
 
The application of the "penny stock" rules could adversely affect the market price of our common stock and increase your transaction costs to sell those shares.
 
As long as the trading price of our common shares is below $5 per share, the open-market trading of our common shares will be subject to the "penny stock" rules. The "penny stock" rules impose additional sales practice requirements on broker-dealers who sell securities to persons other than established customers and accredited investors (generally those with assets in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 together with their spouse). For transactions covered by these rules, the broker-dealer must make a special suitability determination for the purchase of securities and have received the purchaser's written consent to the transaction before the purchase. Additionally, for any transaction involving a penny stock, unless exempt, the broker-dealer must deliver, before the transaction, a disclosure schedule prescribed by the Securities and Exchange Commission relating to the penny stock market. The broker-dealer also must disclose the commissions payable to both the broker-dealer and the registered representative and current quotations for the securities. Finally, monthly statements must be sent disclosing recent price information on the limited market in penny stocks. These additional burdens imposed on broker-dealers restrict the ability and decrease the willingness of broker-dealers to sell our common shares, which we believe results in decreased liquidity for our common shares as well as increased transaction costs for sales and purchases of our common shares as compared to other securities.
 
Our common stock is subject to price volatility.
 
The market price of our common stock historically has been and may continue to be highly volatile. Our stock price could be subject to wide fluctuations in response to various factors beyond our control, including, but not limited to:
 
medical reimbursement;
actual or anticipated fluctuations in our operating results;
announcements of technological innovations, new products or pricing by our competitors;
the timing of patent and regulatory approvals;
the timing and extent of technological advancements;
the sales of our common stock by affiliates or other shareholders with large holdings;
overall market fluctuations and domestic and worldwide economic conditions; and
other factors described in the “Risk Factors” and elsewhere in this Report.
 
Our future operating results may fall below the expectations of securities industry analysts or investors. Any such shortfall could result in a significant decline in the market price of our common stock. In addition, the stock market has experienced significant price and volume fluctuations that have affected the market price of the stock of many medical device companies and that often have been unrelated to the operating performance of such companies. These broad market fluctuations may directly influence the market price of our common stock.
 
We do not intend to pay dividends in the foreseeable future.
 
We do not intend to pay any cash dividends on our common stock in the foreseeable future.
 
 
12
 
 
Additional Information
 
We are subject to the reporting requirements under the Securities Exchange Act of 1934 and are required to file reports and information with the Securities and Exchange Commission (SEC), including reports on the following forms: annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports files or furnished pursuant to Section 13(a) or 15(d) of the Securities Act of 1934.
 
ITEM 2 – PROPERTIES
 
The Company leases its headquarters at an 8,700 square foot facility at 137 Commercial Street, Plainview, New York 11803, under a lease with a term that expires on September 15, 2022 and with a base annual rental of approximately $69,000. The Company’s NetWolves unit leases a 16,200 square foot facility in Tampa, Florida, under a lease expiring in May 2020 with an annual rental of approximately $174,000. VHC-IT leases a 3,500 square foot facility in Nashville, Tennessee pursuant to a one-year lease expiring April 2019 with an annual rental of $49,000. The Company is evaluating possible renewal options and believes sufficient space is available at similar cost in Nashville. We believe that our current facilities are adequate for foreseeable current and future needs.
 
We also lease approximately 1,500 square feet of office space in New York City under a lease that expires on May 31, 2020. The annual base rent for this lease is approximately $58,000.
 
We lease our engineering and production facilities in China. Specifically, we lease approximately 20,400 square feet under leases expiring in September 2019, August 2020, September 2020, and December 2020 at an aggregate annual cost of approximately $75,000 in Wuxi, China. Such leases are renewable upon expiration.
 
 
 
 
13
 
 
PART II
 
 
ITEM 5 – 
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
 
Our common stock currently trades on the OTC Market under the symbol VASO. The number of record holders of common stock as of March 31, 2019, was approximately 900, which does not include approximately 8,500 beneficial owners of shares held in the name of brokers or other nominees. The table below sets forth the range of high and low trade prices of the common stock for the fiscal periods specified.
 
 
 
Year ended December 31, 2018
 
 
Year ended December 31, 2017 
 
 
 
High
 
 
Low
 
 
High
 
 
Low
 
First quarter
 $0.07 
 $0.05 
 $0.14 
 $0.09 
Second quarter
 $0.06 
 $0.04 
 $0.11 
 $0.09 
Third quarter
 $0.05 
 $0.03 
 $0.09 
 $0.07 
Fourth quarter
 $0.05 
 $0.02 
 $0.08 
 $0.05 
 
The last bid price of the Company's common stock on March 29, 2019, was $0.04 per share.
 
Dividend Policy
 
We have never paid any cash dividends on our common stock and do not intend to pay cash dividends in the foreseeable future.
 
ITEM 7 – 
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
 
This Management’s Discussion and Analysis of Financial Condition and Results of Operations contains descriptions of our expectations regarding future trends affecting our business. These forward looking statements and other forward-looking statements made elsewhere in this document are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Please read the section titled “Risk Factors” in “Item One – Business” to review certain conditions, among others, which we believe could cause results to differ materially from those contemplated by the forward-looking statements.
 
Except for historical information contained in this report, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this report, words such as “anticipates”, “believes”, “could”, “estimates”, “expects”, “may”, “plans”, “potential” and “intends” and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the effect of the dramatic changes taking place in IT and healthcare; continuation of the GEHC agreements; the impact of competitive technology and products and their pricing; medical insurance reimbursement policies; unexpected manufacturing or supplier problems; unforeseen difficulties and delays in the conduct of clinical trials and other product development programs; the actions of regulatory authorities and third-party payers in the United States and overseas; and the risk factors reported from time to time in the Company’s SEC reports. The Company undertakes no obligation to update forward-looking statements as a result of future events or developments.
 
The following discussion should be read in conjunction with the financial statements and notes thereto included in this Annual Report on Form 10-K.
 
 
14
 
 
Overview
 
Vaso Corporation (formerly Vasomedical, Inc.) (“Vaso”) was incorporated in Delaware in July 1987. We principally operate in three distinct business segments in the healthcare equipment and information technology industries. We manage and evaluate our operations, and report our financial results, through these three business segments.
 
IT segment, operating through a wholly-owned subsidiary VasoTechnology, Inc., primarily focuses on healthcare IT and managed network technology services;
 
Professional sales service segment, operating through a wholly-owned subsidiary Vaso Diagnostics, Inc. d/b/a VasoHealthcare, primarily focuses on the sale of healthcare capital equipment for General Electric Healthcare (GEHC) into the health provider middle market; and
 
Equipment segment, primarily focuses on the design, manufacture, sale and service of proprietary medical devices, operating through a wholly-owned subsidiary VasoMedical, Inc., which in turn operates through Vasomedical Solutions, Inc. for domestic business and Vasomedical Global Corp. for international business, respectively.
.
VasoTechnology
 
VasoTechnology, Inc. was formed in May 2015, at the time the Company acquired all of the assets of NetWolves, LLC and its affiliates, including the membership interests in NetWolves Network Services LLC (collectively, “NetWolves”), to address a major issue facing the healthcare IT industry. It currently consists of a managed network and security service division (NetWolves) and a healthcare IT application VAR (value added reseller) division (VasoHealthcare IT). Its current offering includes:
 
Managed diagnostic imaging applications (national channel partner of GEHC IT).
Managed network infrastructure (routers, switches and other core equipment).
Managed network transport (FCC licensed carrier reselling 175+ facility partners).
Managed security services (partner with major cybersecurity technologies firms including IBM and Palo Alto).
 
VasoTechnology uses a combination of proprietary technology, methodology and best-in-class third-party applications to deliver its value proposition.
 
VasoHealthcare
 
VasoHealthcare commenced operations in 2010, in conjunction with the Company’s execution of its exclusive sales representation agreement with GEHC, which is the healthcare business division of the General Electric Company (“GE”), to further the sale of certain medical capital equipment in domestic market segments. Sales of GEHC equipment by the Company have grown significantly since then.
 
VasoHealthcare’s current offering consists of:
 
GEHC diagnostic imaging capital equipment.
GEHC service agreements for the above equipment.
GEHC and third party financial services for the above equipment.
 
VasoHealthcare has built a team of over 80 highly experienced sales professionals who utilize highly focused sales management and analytic tools to manage the complete sales process and to increase market penetration.
 
 
15
 
 
VasoMedical
 
The proprietary medical equipment business now all under VasoMedical traces back to 1995 when the Company began the external counterpulsation technology in the United States. Vasomedical Global was formed in 2011 to combine and coordinate the various international operations including design, development, manufacturing, and sales of medical devices, while domestic activities are under Vasomedical Solutions. These devices primarily consist of cardiovascular diagnostic and therapeutic systems. Its current offering consists of:
 
Biox™ series Holter monitors and ambulatory blood pressure recorders.
ARCS™ series analysis, reporting and communication software for physiological signals such as ECG and blood pressure.
MobiCare™ multi-parameter wireless vital-sign monitoring system.
EECP® therapy systems, used for non-invasive, outpatient treatment of ischemic heart disease.
 
This segment uses its extensive cardiovascular device knowledge coupled with its engineering resources to cost effectively create and market its proprietary technology. It sells and services its products to domestic customers directly and sells and/or services its products in the international market mainly through independent distributors.
 
Going concern assessment
 
We have incurred net losses from operations for the years ended December 31, 2018 and 2017, and we maintain lines of credit from a lending institution and these lines of credit will require further extensions after their current June 28, 2019 maturity date. These events raise substantial doubt about our ability to continue as a going concern. Our ability to continue operating as a going concern is dependent upon achieving profitability, extending the maturity date of our existing lines of credit, or through additional debt or equity financing. Achieving profitability is largely dependent on our ability to reduce operating costs and to maintain or increase our current revenue. While we believe we will continue to maintain or increase our gross revenue and are in the process of reducing operating costs, and while historically we have received extensions of the maturity dates of our lines of credit, failure to achieve these objectives could cast doubt on our ability to continue as a going concern.
 
Strategic Plan and Objectives
 
Our short- and long-term plans for the growth of the Company and to increase stockholder value are:
 
Continue engaging in effectively reducing operating costs.
Continue to expand our product and service offerings as well as market penetration in our healthcare IT business and managed network services business.
Build our brand name in the healthcare provision middle market with the goal of establishing our technology platform and managed services methodology as the standard for secure, efficient use of equipment and applications ecosystems.
Maintain and improve business performance in our professional sales service segment by increasing market penetration of the GE Healthcare product modalities we represent, and possibly building new teams to represent other vendors.
Maintain and grow our equipment business by aligning the cost structure with revenue growth.
Continue to seek accretive partnership and acquisition opportunities.
 
Results of Operations – For the Years Ended December 31, 2018 and 2017
 
Total revenues increased by $1,192,000, or 2%, to $73,980,000 in the year ended December 31, 2018, from $72,788,000 in the year ended December 31, 2017. We reported a net loss of $3,734,000 for the year ended December 31, 2018 as compared to a net loss of $4,539,000 for the year ended December 31, 2017, a decrease in loss of $805,000. The decrease in net loss was primarily due to higher gross profit, the gain on sale of our investment in the VSK joint venture, and the change from income tax expense to income tax benefit. Our net loss was $0.02 and $0.03 per basic and diluted common share for the years ended December 31, 2018 and 2017, respectively.
 
 
16
 
 
Revenues
 
Revenue in the IT segment was $44,228,000 for the year ended December 31, 2018 as compared to $42,581,000 for the prior year, an increase of $1,647,000, or 4%, of which $1,372,000 was attributable to growth in NetWolves revenues, and $275,000 to growth in VHC-IT revenues. At December 31, 2018 VHC-IT had an order backlog exceeding $13.5 million.
 
Commission revenues in the professional sales service segment decreased by $932,000, or 4%, to $25,511,000 in the year ended December 31, 2018, as compared to $26,443,000 in the year ended December 31, 2017. The decrease was primarily due to lower volume of GEHC equipment delivered in 2018, as well as by lower blended commission rates for the equipment delivered in 2018. As discussed in Note B to the financial statements, the Company defers recognition of commission revenue until the underlying equipment is delivered. As of December 31, 2018, the Company recorded on its consolidated balance sheet for this segment a decrease of $5,028,000, or 23%, in deferred commission revenue to $17,098,000, of which $7,200,000 is long-term, compared to $22,126,000 of deferred commission revenue at December 31, 2017, of which $7,115,000 was long-term. The decrease in deferred revenue is due principally to lower total orders booked during the year, partially offset by the decrease in equipment deliveries over the same period.
 
Revenue in our equipment segment increased 13% to $4,241,000 for the year ended December 31, 2018 from $3,764,000 for the year ended December 31, 2017, as a result of an increase in equipment sales of $491,000, or 18%, to $3,151,000 for the year ended December 31, 2018, as compared to $2,660,000 for the year ended December 31, 2017, and a decrease in equipment rentals and services revenue of $14,000, or 1%, to $1,090,000 in the year ended December 31, 2018 from $1,104,000 in the year ended December 31, 2017. The increase in equipment sales is due primarily to increased deliveries at our China operations, as well as an 8% increase in sales in our U.S. operations, resulting from higher software deliveries. The decrease in revenue generated from equipment rentals and services is due primarily to lower recognition of service contract revenues. As of December 31, 2018, the Company recorded on its consolidated balance sheet for this segment $988,000 of deferred revenue, of which $503,000 is long-term, compared to $941,000 of deferred revenue at December 31, 2017, of which $411,000 was long-term, an increase of $47,000 or 5%. The increase in deferred revenue is due principally to a higher mix of multi-year service contracts sold during the year.
 
Gross Profit
 
The Company recorded gross profit of $41,124,000, or 56% of revenue, for the year ended December 31, 2018, compared to $40,731,000, or 56% of revenue, for the year ended December 31, 2017. The increase of $393,000, or 1%, was due primarily to a $756,000 increase in the IT segment and a $102,000 increase in the equipment segment resulting primarily from higher revenues, partially offset by a $465,000 decrease in the professional sales service segment.
 
IT segment gross profit increased to $18,379,000, or 42% of segment revenues, for the year ended December 31, 2018 as compared to $17,623,000, or 41% of segment revenues, in the prior year, an increase of $756,000, of which $513,000 was attributable to VHC-IT resulting from both higher revenues and higher gross profit rate, and $243,000 was attributable to NetWolves, resulting from increased revenues.
 
Professional sales service segment gross profit was $20,165,000, or 79% of the segment revenues, for the year ended December 31, 2018, a decrease of $465,000, or 2%, from segment gross profit of $20,630,000, or 78% of the segment revenue, for the year ended December 31, 2017. The decrease in gross profit was due primarily to lower recognized revenue in 2018 as a result of a decrease in equipment delivery volume and by lower blended commission rates on the equipment delivered during the year. Cost of commissions decreased by $467,000, or 8%, to $5,346,000 for the year ended December 31, 2018, as compared to cost of commissions of $5,813,000 in 2017. The decrease is also due primarily to lower delivery volume. Cost of commissions reflects commission expense associated with recognized commission revenues. Commission expense associated with deferred revenue is recorded as deferred commission expense until the related commission revenue is earned.
 
Equipment segment gross profit increased to $2,580,000, or 61% of equipment segment revenues, for the year ended December 31, 2018 compared to $2,478,000, or 66% of equipment segment revenues, for the year ended December 31, 2017, due to higher sales volume, partially offset by lower average selling prices. Equipment segment gross profits are dependent on a number of factors including the mix of products sold, their respective models and average selling prices, the ongoing costs of servicing EECP® systems, as well as certain fixed period costs, including facilities, payroll and insurance.
 
 
17
 
 
Operating Loss
 
Operating loss was $3,724,000 for the year ended December 31, 2018 compared to operating loss of $3,832,000 for the year ended December 31, 2017, a decrease in loss of $108,000. The improvement was primarily attributable to the decrease in operating loss in the equipment segment from $1,066,000 in the year ended December 31, 2017 to $812,000 in the year ended December 31, 2018, due to higher gross profit and lower operating expenses in the segment. The 2018 professional sales service segment operating income of $1,958,000 was essentially flat as compared to 2017 operating income of $1,954,000, as reductions in gross profit were largely matched by reductions in SG&A costs. IT segment operating loss increased to $3,748,000 for the year ended December 31, 2018 from $3,375,000 for the prior year, an increase of $373,000. The increase was attributable to a $408,000 higher operating loss at NetWolves primarily due to increased spending on infrastructure and engineering efforts, and to higher sales expenses incurred in building its order backlog for future delivery, partially offset by a $35,000 lower operating loss at VHC-IT due to higher gross profit. The healthcare IT VAR business continues to grow as reflected in the significant increase in order volume and backlog, which we anticipate to continue to grow and convert to revenue, resulting in improvement in operating performance.
 
Selling, general and administrative (SG&A) expenses for the years ended December 31, 2018 and 2017 were $43,962,000, or 59% of revenues, and $43,618,000, or 60% of revenues, respectively, reflecting an increase of $344,000 or less than 1%. The increase in SG&A expenditures in the year ended December 31, 2018 resulted primarily from a $1,336,000 increase in the IT segment due to increased personnel and bad debt costs, partially offset by a $468,000 decrease in the professional sales service segment attributable mainly to lower sales personnel-related cost, and a $300,000 decrease in the equipment segment, and by $223,000 lower corporate expenses.
 
Research and development (R&D) expenses of $886,000, or 1% of revenues, for the year ended December 31, 2018 decreased by $59,000, or 6%, from $945,000, or 1% of revenues, for the year ended December 31, 2017. The decrease is primarily attributable to lower new product development costs in the NetWolves operation.
 
Adjusted EBITDA
 
We define Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), which is a non-GAAP financial measure, as net (loss) income, plus net interest expense (income), tax expense, depreciation and amortization, and non-cash expenses for share-based compensation.  Adjusted EBITDA is a metric that is used by the investment community for comparative and valuation purposes. We disclose this metric in order to support and facilitate the dialogue with research analysts and investors.
 
Adjusted EBITDA is not a measure of financial performance under accounting principles generally accepted in the United States (“GAAP”) and should not be considered a substitute for operating income, which we consider to be the most directly comparable GAAP measure. Adjusted EBITDA has limitations as an analytical tool, and when assessing our operating performance, you should not consider Adjusted EBITDA in isolation, or as a substitute for net income or other consolidated income statement data prepared in accordance with GAAP. Other companies may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure.
  
 
18
 
 
A reconciliation of net loss to Adjusted EBITDA is set forth below:
 
 
 
(in thousands)
 
 
 
Year ended December 31,
 
 
 
2018
 
 
2017
 
 
 
 
 
 
 
 
Net loss
 $(3,734)
 $(4,539)
Interest expense (income), net
  727 
  651 
Income tax (benefit) expense
  (385)
  134 
Depreciation and amortization
  2,522 
  2,426 
Share-based compensation
  313 
  514 
Adjusted EBITDA
 $(557)
 $(814)
 
Adjusted EBITDA increased by $257,000, to $(557,000) in the year ended December 31, 2018 from $(814,000) in the year ended December 31, 2017. The increase was primarily attributable to the lower net loss, partially offset by the change from income tax expense to income tax benefit and by lower share-based compensation as compared to the prior year.
 
Other Income (Expense), Net
 
Other income (expense), net for the years ended December 31, 2018 and 2017, was $(395,000) and $(573,000), respectively, a decrease in net expense of $178,000. The decrease was due primarily to the $212,000 gain on sale of our investment in the VSK joint venture and $42,000 higher other income, primarily value-added tax refunds in our China operations, partially offset by $76,000 higher interest expense on our lines of credit and financed equipment purchases.
 
Income Tax (Benefit) Expense
 
During the year ended December 31, 2018, we recorded income tax benefit of $(385,000), as compared to income tax expense of $134,000 in the year ended December 31, 2017. The Company utilized no net operating loss carryforwards for the years ended December 31, 2018 and 2017. The change from income tax expense in 2017 to income tax benefit in 2018 arose primarily from the impact of the change in the carryforward period for 2018 net operating losses from 20 years to indefinitely on deferred tax liabilities arising from goodwill generated by the NetWolves acquisition. The Company has net operating loss carryforwards of approximately $46 million at December 31, 2018.
 
Liquidity and Capital Resources
 
Cash and Cash Flow – For the year ended December 31, 2018
 
We have financed our operations and investment activities primarily from working capital and additional borrowings. At December 31, 2018, we had cash and cash equivalents of $2,668,000 and negative working capital of $16,179,000. $7,797,000 in negative working capital at December 31, 2018 is attributable to the net balance of deferred commission expense and deferred revenue. These are non-cash expense and revenue items and have no impact on future cash flows. At March 31, 2019 the Company’s cash and cash equivalents were approximately $2.0 million.
 
Cash used by operating activities was $1,453,000 during the year ended December 31, 2018, which consisted of net loss after non-cash adjustments of $984,000 and cash used by changes in operating assets and liabilities of $469,000. The changes in the account balances primarily reflect decreases in deferred revenue and accrued commissions of $4,981,000 and $599,000, respectively, partially offset by decreases in accounts and other receivables and deferred commission expense of $1,725,000 and $1,174,000, respectively.
 
Cash used in investing activities during the year ended December 31, 2018 was $2,586,000 for the purchase of equipment and software, partially offset by $311,000 in proceeds from the sale of our investment in the VSK joint venture.
 
 
19
 
 
Cash provided by financing activities during the year ended December 31, 2018 was $1,141,000, primarily attributable to $778,000 in additional borrowings on our lines of credit, a $21,000 note issued to purchase equipment, and $500,000 in notes issued to related parties, partially offset by $156,000 in note and capital lease payments.
 
Liquidity
 
We have incurred net losses from operations for the years ended December 31, 2018 and 2017, and we maintain lines of credit from a lending institution which will require further extensions after their current June 28, 2019 maturity date. These events raise substantial doubt about our ability to continue as a going concern. Our ability to continue operating as a going concern is dependent upon achieving profitability, extending the maturity date of our existing lines of credit, or through additional debt or equity financing. Achieving profitability is largely dependent on our ability to reduce operating costs and to maintain or increase our current revenue. While we believe we will continue to maintain or increase our gross revenue and are in the process of reducing costs, and while historically we have received extensions of the maturity dates of our lines of credit, failure to achieve these objectives could cast doubt on our ability to continue as a going concern.
 
 
Off-Balance Sheet Arrangements
 
We do not participate in transactions that generate relationships with unconsolidated entities or financial partnerships, such as entities often referred to as structured finance or special purpose entities (SPES), which would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes. As of December 31, 2018, we are not involved in any unconsolidated SPES or other off-balance sheet arrangements.
 
Effects of Inflation
 
We believe that inflation and changing prices over the past two years have not had a significant impact on our revenue or on our results of operations.
 
Critical Accounting Policies and Estimates
 
Note B of the Notes to Consolidated Financial Statements includes a summary of our significant accounting policies and methods used in the preparation of our financial statements. In preparing these financial statements, we have made our best estimates and judgments of certain amounts included in the financial statements, giving due consideration to materiality. The application of these accounting policies involves the exercise of judgment and use of assumptions as to future uncertainties and, as a result, actual results could differ from these estimates. Our critical accounting policies and estimates are as follows:
 
Revenue Recognition
 
In the first quarter of 2018, we adopted Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09, as amended, replaced most existing revenue recognition guidance in U.S. GAAP.
 
This new guidance requires certain judgments and estimates in implementing its five-step process to be followed in determining the amount and timing of revenue recognition and related disclosures. Refer to Note B of the notes to consolidated financial statements for further discussion regarding significant judgments involved in our application of ASC 606.
 
 
20
 
 
Inventories, net
 
We value inventories in the equipment segment at the lower of cost or net realizable value, with cost being determined on a first-in, first-out basis. The Company occasionally places EECP® systems and other medical device products at various field locations for demonstration, training, evaluation, and other similar purposes at no charge. The cost of these EECP® systems and other products is transferred to property and equipment and is amortized over the next two to five years. The Company records the cost of refurbished components of EECP® systems and critical components at cost plus the cost of refurbishment. The Company regularly reviews inventory quantities on hand, particularly raw materials and components, and records a provision for excess and slow moving inventory based primarily on existing and anticipated design and engineering changes to its products as well as forecasts of future product demand.
 
In our IT Segment, we purchase computer hardware and software for specific customer requirements and value such inventories at the lower of cost or estimated market, with cost being determined on the specific identification method.
 
Goodwill and Intangible Assets
 
Goodwill represents the excess of cost over the fair value of net assets of businesses acquired. The Company accounts for goodwill under the guidance of the ASC Topic 350, “Intangibles: Goodwill and Other”. Goodwill acquired in a purchase business combination and determined to have an indefinite useful life is not amortized, but instead tested for impairment, at least annually, in accordance with this guidance. The recoverability of goodwill is subject to an annual impairment test or whenever an event occurs or circumstances change that would more likely than not result in an impairment. The impairment test is based on the estimated fair value of the underlying businesses and performed in the fourth quarter of each year. Intangible assets consist of the value of customer contracts and relationships, patent and technology costs, and software. The cost of significant customer-related intangibles is amortized in proportion to estimated total related revenue; cost of other intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life, which range from five to ten years. The Company capitalizes internal use software costs incurred during the application development stage. Costs related to preliminary project activities and post implementation activities are expensed as incurred.
 
Deferred Revenues
 
For the professional sales service segment, amounts billable under the agreement with GE Healthcare in advance of customer acceptance of the equipment are recorded initially as deferred revenue, and commission revenue is subsequently recognized as customer acceptance of such equipment is reported to us by GEHC.
 
For the equipment segment, we record revenue on extended service contracts ratably over the term of the related contract period. In accordance with the provisions of ASC Topic 606, we defer revenue related to EECP® system sales for the fair value of installation and in-service training to the period when the services are rendered and for warranty obligations ratably over the service period, which is generally one year.
 
Income Taxes
 
Deferred income taxes are recognized for temporary differences between financial statement and income tax bases of assets and liabilities and loss carry forwards for which income tax benefits are expected to be realized in future years. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized. In estimating future tax consequences, we generally consider all expected future events other than an enactment of changes in the tax laws or rates. Deferred tax assets are continually evaluated for realizability. To the extent our judgment regarding the realization of the deferred tax assets changes, an adjustment to the allowance is recorded, with an offsetting increase or decrease, as appropriate, in income tax expense. Such adjustments are recorded in the period in which our estimate as to the realizability of the assets changed that it is “more likely than not” that all of the deferred tax assets will be realized. The “more likely than not” standard is subjective and is based upon our estimate of a greater than 50% probability that the deferred tax asset will be realized.
 
 
21
 
 
We also comply with the provisions of the ASC Topic 740, “Income Taxes”, which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. Based on its analysis, the Company has determined that it has not incurred any liability for unrecognized tax benefits as of December 31, 2018 and December 31, 2017. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2018 and December 31, 2017. Management is currently unaware of any issues under review that could result in significant payments, accruals or material deviations from its position.
 
Recently Issued Accounting Pronouncements
 
Note B of the Notes to Consolidated Financial Statements includes a description of the Company’s evaluation of recently issued accounting pronouncements.
 
ITEM 8 - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
 
The consolidated financial statements listed in the accompanying Index to Consolidated Financial Statements are filed as part of this report.
 
ITEM 9A - CONTROLS AND PROCEDURES
 
Report on Disclosure Controls and Procedures
 
Disclosure controls and procedures reporting as promulgated under the Exchange Act is defined as controls and procedures that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act are recorded, processed, summarized and reported within the time periods specified in the SEC rules and forms. Disclosure controls and procedures include without limitation, controls and procedures designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
 
Our CEO and our CFO have evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of December 31, 2018 and have concluded that the Company’s disclosure controls and procedures were effective as of December 31, 2018.
 
Management’s Report on Internal Control over Financial Reporting
 
Management is responsible for establishing and maintaining adequate internal control over financial reporting for the Company as defined in Rule 13a-15(f) and 15d-15(f) of the Exchange Act. Internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America. Internal control involves maintaining records that accurately represent our business transactions, providing reasonable assurance that receipts and expenditures of company assets are made in accordance with management authorization, and providing reasonable assurance that unauthorized acquisition, use or disposition of company assets that could have a material effect on our financial statements would be detected or prevented on a timely basis.
 
Because of its innate limitations, internal control over our financial statements is not intended to provide absolute guarantee that a misstatement can be detected or prevented on the statements. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Also projections of any evaluation of effectiveness to future periods are subject to risk that controls may become inadequate because of changes in condition, or that the degree of compliance with the policies or procedures may deteriorate.
 
 
22
 
 
Management conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 COSO framework). A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis.
 
Based on this evaluation and those criteria, the Company’s CEO and CFO concluded that the Company’s internal control over financial reporting was effective as of December 31, 2018.
 
This report does not include an attestation report of the Company’s Independent Registered Public Accounting Firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Company’s Independent Registered Public Accounting Firm pursuant to temporary rules of the Securities and Exchange Commission that permit the Company to provide only Management’s report in this Annual Report.
 
Changes in Internal Control over Financial Reporting
 
For the quarter ended December 31, 2018 there were no changes in our internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
 
ITEM 9B – OTHER INFORMATION
 
The Company held its annual meeting of stockholders on November 16, 2018. At the meeting, the Company’s shareholders voted to approve the following proposals:
 
(1)
The election of two directors in Class I – Joshua Markowitz and Edgar Rios - to hold office until the 2021 Annual Meeting of Stockholders; and,
(2)
The appointment of Marcum LLP as our independent registered public accountants for the year ending December 31, 2018.
 
The following table presents the voting results on these proposals:
 
Approved Proposals
 
Shareholder votes cast
 
 
 
For
 
 
Withheld
 
 
Against
 
 
Abstain
 
Election of Directors
 
 
 
 
 
 
 
 
 
 
 
 
Joshua Markowitz
  84,816,356 
  10,892,995 
  - 
  - 
Edgar Rios
  85,085,870 
  10,623,481 
  - 
  - 
 
    
    
    
    
Appointment of public accountants
  125,903,793 
  - 
  18,634,570 
  77,882 
 
 
 
23
 
 
PART III
 
ITEM 10 – DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
 
Directors of the Registrant
 
As of March 31, 2019, the members of our Board of Directors are:
 
Name of Director
Age
Principal Occupation
Director Since
Joshua Markowitz (2)
63
Chairman of the Board and Director
June, 2015
David Lieberman
74
Vice Chairman of the Board and Director
February, 2011
Jun Ma
55
President, Chief Executive Officer and Director
June, 2007
Peter C. Castle
50
Chief Operating Officer and Director
August, 2010
Behnam Movaseghi (1) (2)
65
Director
July, 2007
Edgar Rios (1)
66
Director
February, 2011
 
(1)
Member of the Audit Committee
(2)
Member of the Compensation Committee
 
The following is a brief account of the business experience for at least the past five years of our directors:
 
Joshua Markowitz has been a director since June 2015, and was appointed Chairman of the Board of the Company in August 2016. Mr. Markowitz has been a practicing attorney in the State of New Jersey for in excess of 30 years. He is currently a senior partner in the New Jersey law firm of Markowitz O'Donnell, LLP. Mr. Markowitz was the brother-in-law of Mr. Simon Srybnik (deceased), the former Chairman and director of the Company.
 
David Lieberman has been a director of the Company and the Vice Chairman of the Board, since February 2011. Mr. Lieberman has been a practicing attorney in the State of New York for more than 40 years, specializing in corporation and securities law. He is currently a senior partner at the law firm of Beckman, Lieberman & Barandes, LLP, which performs certain legal services for the Company and its subsidiaries. Mr. Lieberman is a former Chairman of the Board of Herley Industries, Inc., which was sold in March, 2011.
 
Jun Ma, PhD, has been a director since June 2007 and was appointed President and Chief Executive Officer of the Company on October 16, 2008.   Dr. Ma has held various positions in academia and business, and prior to becoming President and CEO of the Company, had provided technology and business consulting services to several domestic and international companies in aerospace, automotive, biomedical, medical device, and other industries, including Kerns Manufacturing Corp. and Living Data Technology Corp., both of which are stockholders of our Company. Dr. Ma received his PhD degree in mechanical engineering from Columbia University, MS degree in biomedical engineering from Shanghai University, and BS degree in precision machinery and instrumentation from University of Science and Technology of China.

Peter Castle has been a director since August 2010 and was appointed the Chief Operating Officer of the Company after the NetWolves acquisition in June 2015. Prior to the acquisition, Mr. Castle was the President and Chief Executive Officer of NetWolves Network Services, LLC, where he has been employed since 1998. At NetWolves, Mr. Castle also held the position of Chief Financial Officer from 2001 until October 2009, Vice President of Finance since January 2000, Controller from August 1998 until December 1999 and Treasurer and Secretary from August 1999.
 
Behnam Movaseghi, CPA, has been a director since July 2007. Mr. Movaseghi has been treasurer of Kerns Manufacturing Corporation since 2000, and controller from 1990 to 2000. For approximately ten years prior thereto Mr. Movaseghi was a tax and financial consultant. Mr. Movaseghi is a Certified Public Accountant.
 
 
24
 
 
Edgar G. Rios has been a director of the Company since February 2011. Mr. Rios currently is President of Edgary Consultants, LLC. and was appointed a director in conjunction with the Company’s prior consulting agreement with Edgary Consultants, LLC. Most recently from 2008 thru the end of 2016, Mr. Rios was the Co-founder, CEO and Managing Member of SHD Oil & Gas LLC, an oil and gas exploration and development firm operating on the reservation of the Three Affiliate Tribes in North Dakota. Previously, Mr. Rios was a co-founder, Executive Vice President, General Counsel and Director of AmeriChoice Corporation from its inception in 1989 through its acquisitionby UnitedHealthcare in 2002 and continued as a senior executive with United Healthcare through 2007. Prior to co-founding AmeriChoice, Mr. Rios was a senior executive with a number of businesses that provided technology services and non-technology products to government purchasers. Over the years, Mr. Rios also has been an investor, providing seed capital to various technology and nontechnology start-ups. Mr. Rios serves on the Board of Advisors of Columbia Law School. Mr. Rios also serves as a member of the Board of Trustees of Meharry Medical School and the Brookings Institution in Washington; and as a director of the An-Bryce Foundation and Los Padres Foundation in Virginia. Mr. Rios holds a J.D. from Columbia University Law School and an A.B. from Princeton University.
 
Committees of the Board of Directors
 
Audit Committee and Audit Committee Financial Expert
 
The Board has a standing Audit Committee. The Board has affirmatively determined that each director who serves on the Audit Committee is independent, as the term is defined by applicable Securities and Exchange Commission ("SEC") rules. During the year ended December 31, 2018, the Audit Committee consisted of Edgar Rios, committee chair, and Behnam Movaseghi. The members of the Audit Committee have substantial experience in assessing the performance of companies, gained as members of the Company’s Board of Directors and Audit Committee, as well as by serving in various capacities in other companies or governmental agencies. As a result, they each have an understanding of financial statements. The Board believes that Behnam Movaseghi fulfills the role of the financial expert on this committee.
 
The Audit Committee regularly meets with our independent registered public accounting firm without the presence of management.
 
The Audit Committee operates under a charter approved by the Board of Directors. The Audit Committee charter is available on our website.
 
Compensation Committee
 
Our Compensation Committee annually establishes, subject to the approval of the Board of Directors and any applicable employment agreements, the compensation that will be paid to our executive officers during the coming year, as well as administers our stock-based benefit plans. During the year ended December 31, 2018, the Compensation Committee consisted of Joshua Markowitz, committee chair, and Behnam Movaseghi. None of these persons have been officers or employees of the Company at the time of their position on the committee, or, except as otherwise disclosed, had any relationship requiring disclosure herein.
 
The Compensation Committee operates under a charter approved by the Board of Directors. The Compensation Committee charter is available on our website.
 
MEETINGS OF THE BOARD OF DIRECTORS AND COMMITTEES
 
During the year ended December 31, 2018 there were:
 
2 meetings of the Board of Directors
4 meetings of the Audit Committee
2 meetings of the Compensation Committee
 
 
25
 
 
Section 16(a) Beneficial Ownership Reporting Compliance
 
Section 16(a) of the Exchange Act requires directors, executive officers and persons who beneficially own more than 10% of our common stock (collectively, “Reporting Persons”) to file initial reports of ownership and reports of changes in ownership of our common stock with the SEC. Reporting Persons are required by SEC regulations to furnish us with copies of all Section 16(a) reports they file. To our knowledge, based solely on our review of the copies of such reports received or written representations from certain Reporting Persons that no other reports were required, we believe that during the year ended December 31, 2018 all Reporting Persons timely complied with all applicable filing requirements.
 
Corporate Governance - Code of Ethics
 
We have adopted a Corporate Code of Business Ethics (the "Code") that applies to all employees, including our principal executive officer, principal financial officer, and directors of the Company. A copy of the Code can be found on our website, www.vasocorporation.com. The Code is broad in scope and is intended to foster honest and ethical conduct, including accurate financial reporting, compliance with laws and the like. If any substantive amendments are made to the Code or if there is any grant of waiver, including any implicit waiver, from a provision of the Code to our Chief Executive Officer or Chief Financial Officer, we will disclose the nature of such amendment or waiver in a Current Report on Form 8-K.
 
Executive Officers of the Registrant
 
As of March 31, 2019 our executive officers are:
 
Name of Officer
 
Age
 
Position held with the Company
Jun Ma, PhD
 
55
 
President, Chief Executive Officer
Peter C. Castle
 
50
 
Chief Operating Officer
Michael J. Beecher
 
74
 
Chief Financial Officer and Secretary
Jonathan P. Newton
 
58
 
Vice President of Finance and Treasurer
 
Michael J. Beecher, CPA, joined the Company as Chief Financial Officer in September 2011. Prior to joining Vasomedical, Mr. Beecher was Chief Financial Officer of Direct Insite Corp., a publicly held company, from December 2003 to September 2011.  Prior to his position at Direct Insite, Mr. Beecher was Chief Financial Officer and Treasurer of FiberCore, Inc., a publicly held company in the fiber-optics industry. From 1989 to 1995 he was Vice-President Administration and Finance at the University of Bridgeport. Mr. Beecher began his career in public accounting with Haskins & Sells, an international public accounting firm. He is a graduate of the University of Connecticut, a Certified Public Accountant and a member of the American Institute of Certified Public Accountants.
 
Jonathan P. Newton served as Chief Financial Officer of the Company from September 1, 2010 to September 8, 2011, and is currently Vice President of Finance and Treasurer.  From June 2006 to August 2010, Mr. Newton was Director of Budgets and Financial Analysis for Curtiss-Wright Flow Control.   Prior to his position at Curtiss-Wright Flow Control, Mr. Newton was Vasomedical’s Director of Budgets and Analysis from August 2001 to June 2006. Prior positions included Controller of North American Telecommunications Corp., Accounting Manager for Luitpold Pharmaceuticals, positions of increasing responsibility within the internal audit function of the Northrop Grumman Corporation and approximately three and one half years as an accountant for Deloitte Haskins & Sells, during which time Mr. Newton became a Certified Public Accountant.  Mr. Newton holds a B.S. in Accounting from SUNY at Albany, and a B.S. in Mechanical Engineering from Hofstra University.
 
 
26
 
 
ITEM 11 - EXECUTIVE COMPENSATION
 
The following table sets forth the annual and long-term compensation of our Chief Executive Officer and each of our most highly compensated officers and employees who were serving as executive officers or employees at the end of the last completed fiscal year for services rendered for the years ended December 31, 2018 and 2017.
 
Summary Compensation Table
 
Name and Principal Position
 
Year
 
Salary ($)
 
 
Bonus ($)
 
 
Stock Awards ($) (1)
 
 Option Awards ($)
 
Non-Equity Incentive Plan Compensation ($)
 
 
Nonqualified Deferred Compensation Earnings ($)
 
 
All Other Compensation ($) (2)
 
 
Total ($)
 
Jun Ma, PhD
 
2018
  375,000 
  - 
  - 
 
 
 
 
 
 
 
  32,476 
  407,476 
Chief Executive
Officer
 
2017
  375,000 
  45,000 
  18,000 
 
   
 
   
 
  61,870 
  499,870 
Peter C. Castle
 
2018
  350,000 
  - 
  - 
 
    
    
  24,472 
  374,472 
Chief Operating
Officer
 
2017
  350,000 
  20,000 
  18,000 
 
    
    
  45,341 
  433,341 
Jane Moen
 
2018
  254,167 
  13,500 
  25,000 
 
    
    
  7,891 
  300,558 
President of VasoHealthcare
 
2017
  200,000 
  60,000 
  - 
 
    
    
  8,837 
  268,837 
Michael J. Beecher
 
2018
  215,000 
  - 
  - 
 
    
    
  10,288 
  225,288 
Chief Financial Officer and Secretary
 
2017
  215,000 
  15,000 
  4,500 
 
    
    
  14,564 
  249,064 
Jonathan P. Newton
 
2018
  175,000 
  - 
  - 
 
    
    
  11,585 
  186,585 
Vice President of Finance and Treasurer
 
2017
  175,000 
  10,000 
  3,000 
 
    
    
  15,652 
  203,652 
 
(1)
Represents fair value on the date of grant. See Note B to the Consolidated Financial Statements included in our Form 10–K for the year ended December 31, 2018 for a discussion of the relevant assumptions used in calculating grant date fair value.
(2)
Represents tax gross-ups, vehicle allowances, Company-paid life insurance, and amounts matched in the Company’s 401(k) Plan.
 
Outstanding Equity Awards at Last Fiscal Year End
 
The following table provides information concerning outstanding options, unvested stock and equity incentive plan awards for our named executive officers at December 31, 2018:
 
 
 
Option Awards
 
 
Stock Awards
 
Name
 
Number of Securities Underlying Unexercised Options - Exercisable
 
 
Number of Securities Underlying Unexercised Options - Unexercisable
 
 
Equity Incentive Plan Awards: Number of Underlying Unexercised Unearned Options
 
 
Option Exercise Price
 
 
Option Expiration Date
 
 
Number of Shares or Units of Stock That Have Not Vested
 
 
Market Value of Shares or Units of Stock That Have Not Vested
 
 
Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested
 
 
Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested
 
Peter C. Castle
  - 
  - 
  - 
  - 
  - 
  250,000 
  7,500 
  - 
  - 
 
 
 
27
 
 
The future vesting dates of the above stock awards are:
 
Name
 
Number of Shares or Units of Stock That Have Not Vested
 
Vesting Date
Peter C. Castle
  250,000 
6/15/19
 
Employment Agreements
 
On March 21, 2011, the Company entered into an Employment Agreement with its President and Chief Executive Officer, Dr. Jun Ma, for a three-year term ending on March 14, 2014. The agreement was amended in 2013 and again in 2015 to provide for a continuing three-year term, unless earlier terminated by the Company, but in no event can extend beyond March 14, 2021. The Employment Agreement currently provides for annual compensation of $375,000. Dr. Ma shall be eligible to receive a bonus for each fiscal year thereafter during the employment term. The amount and the occasion for payment of such bonus, if any, shall be at the discretion of the Board of Directors. Dr. Ma shall also be eligible for an award under any long-term incentive compensation plan and grants of options and awards of shares of the Company’s stock, as determined at the Board of Directors’ discretion. The Employment Agreement further provides for reimbursement of certain expenses, and certain severance benefits in the event of termination prior to the expiration date of the Employment Agreement.
 
On June 1, 2015, the Company entered into an Employment Agreement with Mr. Peter Castle to be its Chief Operating Officer. The agreement provides for a three-year term ending on June 1, 2018 and shall extend for additional one-year periods annually commencing June 1, 2018, unless earlier terminated by the Company, but in no event can extend beyond June 1, 2021. The Employment Agreement currently provides for annual compensation of $350,000. Mr. Castle shall be eligible to receive a bonus for each fiscal year thereafter during the employment term. The amount and the occasion for payment of such bonus, if any, shall be at the discretion of the Board of Directors. Mr. Castle shall also be eligible for an award under any long-term incentive compensation plan and grants of options and awards of shares of the Company’s stock, as determined at the Board of Directors’ discretion. The Employment Agreement further provides for reimbursement of certain expenses, and certain severance benefits in the event of termination prior to the expiration date of the Employment Agreement.
 
401(k) Plan
 
The Company maintains a defined contribution plan to provide retirement benefits for its employees - the Vaso Corporation 401(k) Plan adopted in April 1997. As allowed under Section 401(k) of the Internal Revenue Code, the plan provides tax-deferred salary deductions for eligible employees. Employees are eligible to participate in the next quarter enrollment period after employment under the Vasomedical Plan. Participants may make voluntary contributions to the plan up to 80% of their compensation under the Vasomedical Plan. In the years ended December 31, 2018 and 2017 the Company made discretionary contributions of approximately $96,000 and $116,000, respectively, to match a percentage of employee contributions.
 
 
28
 
 
Director's Compensation
 
Non-employee directors receive a fee of $2,500 for each Board of Directors and Committee meeting attended. Committee chairs receive an annual fee of $5,000. Non-employee directors also receive an annual fee of $30,000. These fees are either paid in cash, or common stock valued at the fair market value of the common stock on the date of grant, which is the meeting date.
 
 
 
Fees Earned or Paid in Cash
 
 
Stock Awards
 
 
Option Awards
 
 
Non-equity Incentive Plan Compensation
 
 
Nonqualified Deferred Compensation Earnings
 
 
All Other Compensation (1)
 
 
Total
 
Name
 
($)
 
 
($)
 
 
($)
 
 
($)
 
 
($)
 
 
($)
 
 
($)
 
David Lieberman
  35,000 
  - 
  - 
  - 
  - 
  19,528 
  54,528 
Jun Ma, PhD
  - 
  - 
  - 
  - 
  - 
  - 
  - 
Randy Hill
  30,000 
  - 
  - 
  - 
  - 
  75,000 
  105,000 
Peter Castle
  - 
  - 
  - 
  - 
  - 
  - 
  - 
Joshua Markowitz
  45,000 
  - 
  - 
  - 
  - 
  564 
  45,564 
Behnam Movaseghi
  50,000 
  - 
  - 
  - 
  - 
  564 
  50,564 
Edgar Rios
  50,000 
  - 
  - 
  - 
  - 
  564 
  50,564 
 
(1) 
Represents tax gross-up, health benefit premiums, and consulting fees.
 
Compensation Committee Interlocks and Insider Participation
 
During the year ended December 31, 2018, the Compensation Committee consisted of Joshua Markowitz, committee chair, and Behnam Movaseghi. Neither of these persons were officers or employees of the Company during the time they held positions on the committee, or, except as otherwise disclosed, had any relationship requiring disclosure herein.
 
 
29
 
 
ITEM 12 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
 
The following table sets forth the beneficial ownership of shares of our common stock as of March 31, 2019 of (i) each person known by us to beneficially own 5% or more of the shares of outstanding common stock, based solely on filings with the SEC, (ii) each of our executive officers and directors, and (iii) all of our executive officers and directors as a group. Except as otherwise indicated, all shares are beneficially owned, and investment and voting power is held by the persons named as owners. To our knowledge, except under community property laws or as otherwise noted, the persons and entities named in the table have sole voting and sole investment power over their shares of our common stock. Unless otherwise indicated, each beneficial owner listed below maintains a mailing address of c/o Vaso Corporation, 137 Commercial Street, Plainview, New York 11803.
 
Name of Beneficial Owner
 
Common Stock Beneficially Owned (1)
 
 
% of Common Stock (2)
 
Estate of Simon Srybnik (3)
  55,738,318 
  33.35%
Jun Ma, PhD ** 
  5,298,146 
  3.17%
Peter Castle ** 
  3,125,000 
  1.87%
Edgar Rios ** 
  1,625,000 
  * 
David Lieberman ** 
  1,599,200 
  * 
Michael J. Beecher ** 
  1,240,400 
  * 
Behnam Movaseghi ** 
  1,189,404 
  * 
Jonathan Newton ** 
  775,000 
  * 
Joshua Markowitz ** 
  350,000 
  * 
 
    
    
** Directors and executive officers as a group
    
    
(8 persons)
  15,202,150 
  9.10%
 
*Less than 1% of the Company's common stock
 
(1)
No officer or director owns more than one percent of the issued and outstanding common stock of the Company unless otherwise indicated.
(2)
Applicable percentages are based on 167,109,200 shares of common stock outstanding as of March 31, 2019, adjusted as required by rules promulgated by the SEC.
(3)
As the sole shareholder of Kerns Manufacturing Corp., the estate of Simon Srybnik has voting and dispositive powers over the 25,714,286 shares held by Kerns. The reporting person also has voting and dispositive powers over the 17,815,007 shares of common stock owned by Living Data Technology Corp. Furthermore, the estate of Simon Srybnik also owns and holds sole dispositive power over 12,209,025 additional shares of common stock.

 
30
 
 
Equity Compensation Plan Information
 
We maintain various stock plans under which stock options and stock grants are awarded at the discretion of our Board of Directors or its Compensation Committee. The purchase price of the shares under the plans and the shares subject to each option granted is not less than the fair market value on the date of the grant. The term of each option is generally five years and is determined at the time of the grant by our board of directors or the compensation committee. The participants in these plans are officers, directors, employees, and consultants of the Company and its subsidiaries and affiliates.
 
Plan category
 
(a)
Number of securities to be issued upon exercise of outstanding options, warrants and rights
 
 
(b)
Weighted-average exercise price of outstanding options, warrants and rights
 
 
(c)
Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))
 
 
 
 
 
 
 
 
 
 
 
Equity Compensation
 
 
 
 
 
 
 
 
 
plans approved by
 
 
 
 
 
 
 
 
 
security holders
  - 
 $0.00 
  - 
 
    
    
    
Equity Compensation
    
    
    
plans not approved
    
    
    
by security holders (1)
  2,137,500 
 $0.00 
  1,901,817 
 
    
    
    
Total
  2,137,500 
    
  1,901,817 
 
(1)
Includes 1,637,500 and 500,000 shares of restricted common stock granted, but unissued, under the 2013 Plan and 2016 Plan, respectively. The exercise price for the stock grants is zero. 15,059 shares, 186,758 shares, and 1,700,000 shares remain available for future grants under the 2010 Plan, 2013 Plan, and 2016 Plan, respectively.
 
See Note N to the Consolidated Financial Statements for description of the material features of our current stock plans not approved by stockholders.
 
ITEM 13 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
 
One of the Company’s directors, Peter Castle, was the Chief Executive Officer and President of NetWolves Network Services, LLC, which we acquired in May 2015. Another of the Company’s directors, David Lieberman, was a director of NetWolves Network Services, LLC. Mr. Castle and Mr. Lieberman owned of record approximately 10.4% and 5.7%, respectively, of the membership interests of NetWolves LLC. Mr. Lieberman may also be deemed to have owned beneficially up to an additional 13.5% of such membership interests. The Company’s board of directors negotiated the purchase price on an arm’s length basis, and both Mr. Castle and Mr. Lieberman abstained from the vote approving the Asset Purchase Agreement.
 
The Company obtained an opinion regarding the fairness of the purchase price for the NetWolves entities from a reputable, independent third-party investment banking firm. Of the $18,000,000 purchase price paid for the acquisition, $14,200,000 was from the Company’s cash on hand and the remaining $3,800,000 was raised from the sale of a Subordinated Secured Note to MedTechnology Investments, LLC (“MedTech”).
 
 
31
 
 
On May 29, 2015, the Company entered into a Note Purchase Agreement with MedTech pursuant to which it issued MedTech a secured subordinated promissory note (“Note”) for $3,800,000 for the purchase of NetWolves. MedTech was formed to acquire the Note, and $1,950,000 of the aggregate funds used to acquire the Note was provided by six of our directors. An additional $100,000 was provided by Joshua Markowitz prior to his joining the board of directors. In June 2015, a second Note for $750,000 was issued to MedTech for working capital purposes, $250,000 of which was provided by a director and a director’s relative. In July 2015, an additional $250,000 was borrowed under the Note Purchase Agreement.
 
The Notes bear interest at an annual rate of 9%, mature on May 29, 2019, may be prepaid without penalty, and are subordinated to any current or future Senior Debt as defined in the Subordinated Security Agreement. The Subordinated Security Agreement secures payment and performance of the Company’s obligations under the Notes and as a result, MedTech was granted a subordinated security interest in the Company’s assets. As set forth in the following table, three directors of the Company provided funds in excess of $120,000 through Medtech during 2015. No principal payments have made for the year ended December 31, 2018 and interest payments made during the year ended December 31, 2018 to these three directors are as indicated in the table below:
 
 
 
 Principal
 
 
Interest
 
 
 
 Outstanding
 
 
Paid
 
Peter C. Castle
 $750,000 
 $68,438 
David Lieberman
 $700,000 
 $63,875 
Jun Ma, PhD
 $300,000 
 $27,375 
 
David Lieberman, a practicing attorney in the State of New York, serves as Vice Chairman of the Board of Directors. He is currently a senior partner at the law firm of Beckman, Lieberman & Barandes, LLP, which performs certain legal services for the Company. Fees of approximately $340,000 were billed by the firm for the year ended December 31, 2018 at which date approximately $28,000 was outstanding.
 
Director Independence
 
We have adopted the NASDAQ Stock Market’s standards for determining the independence of directors. Under these standards, an independent director means a person other than an executive officer or one of our employees or any other individual having a relationship which, in the opinion of the Board of Directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. In addition, the following persons shall not be considered independent:
 
a director who is, or at any time during the past three years was, employed by us;
a director who accepted or who has a family member who accepted any compensation from us in excess of $100,000 during any period of twelve consecutive months within the three years preceding the determination of independence, other than the following:
o
compensation for service on the Board of Directors or any committee thereof;
o
compensation paid to a family member who is one of our employees (other than an executive officer); or
o
under a tax-qualified retirement plan, or non-discretionary compensation;
a director who is a family member of an individual who is, or at any time during the past three years was, employed by us as an executive officer;
a director who is, or has a family member who is, a partner in, or a controlling stockholder or an executive officer of, any organization to which we made, or from which we received, payments for property or services in the current or any of the past three fiscal years that exceed 5% of the recipient's consolidated gross revenues for that year, or $200,000, whichever is more, other than the following:
o
payments arising solely from investments in our securities; or
o
payments under non-discretionary charitable contribution matching programs;
a director who is, or has a family member who is, employed as an executive officer of another entity where at any time during the past three years any of our executive officers served on the compensation committee of such other entity; or
a director who is, or has a family member who is, a current partner of our outside auditor, or was a partner or employee of our outside auditor who worked on our audit at any time during any of the past three years.
 
For purposes of the NASDAQ independence standards, the term “family member” means a person's spouse, parents, children and siblings, whether by blood, marriage or adoption, or anyone residing in such person's home.
 
 
32
 

 
The Board of Directors has assessed the independence of each non-employee director under the independence standards of the NASDAQ Stock Market set forth above, and has affirmatively determined that three of our non-employee directors (Mr. Rios, Mr. Markowitz and Mr. Movaseghi) are independent.
 

We expect each director to attend every meeting of the Board and the committees on which he serves as well as the annual meeting. In the year ended December 31, 2018, all directors attended both the annual meeting and at least 75% of the meetings of the Board and the committees on which they served.
 
ITEM 14 - PRINCIPAL ACCOUNTING FEES AND SERVICES
 
Marcum, LLP is our independent registered public accounting firm and performed the audits of our consolidated financial statements for the years ended December 31, 2018 and 2017. The following table sets forth all fees for such periods:
 
 
 
2018
 
 
2017
 
Audit fees
 $255,440 
 $261,445 
Tax fees
  - 
  - 
All other fees
  - 
  - 
 
    
    
Total
 $255,440 
 $261,445 
 
The Audit Committee has adopted a policy that requires advance approval of all audit, audit-related, tax services, and other services performed by the Company’s independent auditor. Accordingly, the Audit Committee must approve the permitted service before the independent auditor is engaged to perform it. In accordance with such policies, the Audit Committee approved 100% of the services relative to the above fees.
 
PART IV
 
ITEM 15 – EXHIBITS AND FINANCIAL STATEMENT SCHEDULES
 
Financial Statements and Financial Statement Schedules
 
(1)
See Index to Consolidated Financial Statements on page F-1 at beginning of attached financial statements.
 
(a)
Exhibits
 
(3)(i) 
(a) 
Restated Certificate of Incorporation (2)
(b) 
Certificate of Designations of Preferences and Rights of Series E Convertible Preferred Stock (3)
(c) 
Certificate of Amendment to Certificate of Incorporation (11)
(3)(ii)
 
By-Laws (1) 
(4)
(a) 
Specimen Certificate for Common Stock (1)
(NaN)
Specimen Certificate for Series E Convertible Preferred Stock (5)
(NaN)
Secured Subordinated Note, dated as of May 29, 2015, between Vasomedical, Inc. and MedTechnology Investments LLC(9)
 
(10) 
(a) 
Form of Stock Purchase Agreement (3)
(b)
Redacted Sales Representative Agreement between GE Healthcare Division of General Electric Company and Vaso Diagnostics, Inc. d/b/a VasoHealthcare, a subsidiary of Vasomedical, Inc. dated as of May 19, 2010 (4).
(c)
2010 Stock Plan (5).
(d)
Employment Agreement entered into as of March 21, 2011 between Vasomedical, Inc. and Jun Ma, as amended. (8)
(e)
Stock Purchase Agreement dated as of August 19, 2011 among Vasomedical, Inc., Fast Growth Enterprises Limited (FGE) and the FGE Shareholders (6)
(f)
Amendment to Sales Representative Agreement between GE Healthcare Division of General Electric Company and Vaso Diagnostics, Inc. d/b/a VasoHealthcare, a subsidiary of Vasomedical, Inc. dated as of June 20, 2012 (7)
(g)
2013 Stock Plan (12)
(h)
Asset Purchase and Sale Agreement, dated as of May 29, 2015, by and among Vasomedical, Inc., VasoTechnology, Inc., NetWolves, LLC and NetWolves Corporation (9)
(i)
Subordinated Security Agreement dated as of May 29, 2015 by and between Vasomedical, Inc. and MedTechnology Investments LLC (9)
(j)
Employment Agreement dated as of June 1, 2015 between Vasomedical, Inc. and Peter C. Castle (10)
(k)
2016 Stock Plan (13)
 
 
33
 
 
(21)                 Subsidiaries of the Registrant
 
Name
State of Incorporation
Percentage Owned by Company
Vaso Diagnostics, Inc.
New York
100%
VasoMedical, Inc.
Delaware
100%
Vasomedical Global Corp.
New York
100%
Vasomedical Solutions, Inc.
New York
100%
VasoHealthcare IT Corp.
Delaware
100%
VasoTechnology, Inc.
Delaware
100%
NetWolves Network Services LLC
Florida
100%
Fast Growth Enterprises Limited
British Virgin Islands
100%
 
(31)                Certification Reports pursuant to Securities Exchange Act Rule 13a - 14
(32)                Certification Reports pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
  __________________________
(1)
Incorporated by reference to Registration Statement on Form S-18, No. 33-24095.
(2)
Incorporated by reference to Registration Statement on Form S-1, No. 33-46377 (effective 7/12/94).
(3)
Incorporated by reference to Report on Form 8-K dated June 21, 2010.
(4)
Incorporated by reference to Report on Form 8-K/A dated May 19, 2010 and filed November 9, 2010.
(5)
Incorporated by reference to Report on Form 10-K for the fiscal year ended May 31, 2010.
(6)
Incorporated by reference to Report on Form 10-K for the fiscal year ended May 31, 2011.
(7)
Incorporated by reference to Report on Form 8-K dated June 20, 2012.
(8)
Incorporated by reference to Report on Form 8-K dated March 21, 2011.
(9)
Incorporated by reference to Report on Form 8-K dated May 29, 2015.
(10)
Incorporated by reference to Report on Form 8-K dated October 8, 2015.
(11)
Incorporated by reference to Report on Form 10-Q for the quarter ended September 30, 2016.
(12)
Incorporated by reference to Report on Form 10-Q for the quarter ended September 30, 2013.
(13)
Incorporated by reference to Report on Form 10-Q for the quarter ended June 30, 2016.
 
 
34
 
 
SIGNATURES
 
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, we have duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on the 15th day of April 2019.
 
 
VASO CORPORATION
 
 
 
 
 
Date
By:  
/s/ Jun Ma
 
 
 
Jun Ma 
 
 
 
President, Chief Executive Officer, 
and Director (Principal Executive Officer)
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below on April 15, 2019, by the following persons in the capacities indicated:
 
/s/ Jun Ma
 
President, Chief Executive Officer and Director
Jun Ma
 
(Principal Executive Officer)
 
 
  
/s/ Michael Beecher
 
Chief Financial Officer (Principal Financial Officer)
Michael Beecher
 
 
 
 
  
 /s/ Peter C. Castle
 
Chief Operating Officer and Director
 Peter C. Castle
 
 
 
 
  
/s/ Joshua Markowitz
 
Chairman of the Board
Joshua Markowitz
 
 
 
 
  
/s/ David Lieberman
 
Vice Chairman of the Board
David Lieberman
 
 
 
 
  
/s/ Edgar Rios
 
Director
Edgar Rios
 
 
 
 
  
/s/ Behnam Movaseghi
 
Director
Behnam Movaseghi
 
 
 
 
 
 
 
 
35
 
Vaso Corporation and Subsidiaries
 
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the years ended December 31, 2018 and 2017
 
For the years ended December 31, 2017 and 2016
 
 
Page
 
 
Report of Independent Registered Public Accounting Firm
F-2
 
 
Financial Statements
 
Consolidated Balance Sheets as of December 31, 2018 and 2017
F-3
 
 
Consolidated Statements of Operations and Comprehensive Loss
 
for the years ended December 31, 2018 and 2017
F-4
 
 
Consolidated Statements of Changes in Stockholders' Equity
 
for the years ended December 31, 2018 and 2017
F-5
 
 
Consolidated Statements of Cash Flows
 
for the years ended December 31, 2018 and 2017
F-6
 
 
Notes to Consolidated Financial Statements
F-7 – F-38
 
 
 
 
F-1
 
 
 
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
 
To the Stockholders and Board of Directors of
Vaso Corporation
 
Opinion on the Financial Statements
 
We have audited the accompanying consolidated balance sheets of Vaso Corporation and Subsidiaries (the “Company”) as of December 31, 2018 and 2017, the related consolidated statements of operations and comprehensive loss, stockholders’ equity and cash flows for each of the two years in the period ended December 31, 2018, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2018 and 2017, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2018, in conformity with accounting principles generally accepted in the United States of America.
 
Explanatory Paragraph – Going Concern
 
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As more fully described in Note A, the Company has incurred significant losses and needs to extend the maturity dates of its lines of credit to meet its obligations and sustain its operations. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note A. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
 
Basis for Opinion
 
These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
 
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.
 
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
 
 
/s/ Marcum LLP
 
Marcum LLP
 
We have served as the Company’s auditor since 2014.
 
 
Melville, NY
April 15, 2019
 
F-2
 
 
Vaso Corporation and Subsidiaries
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share data)
 
 
 
December 31,
2018
 
 
December 31,
2017
 
 
 
 
 
 
 
 
ASSETS
 
 
 
 
 
 
CURRENT ASSETS
 
 
 
 
 
 
Cash and cash equivalents
 $2,668 
 $5,245 
Accounts and other receivables, net of an allowance for doubtful
    
    
accounts and commission adjustments of $3,994 at December 31,
    
    
2018 and $4,872 at December 31, 2017
  11,028 
  13,225 
Receivables due from related parties
  20 
  20 
Inventories, net
  1,983 
  2,355 
Deferred commission expense
  2,585 
  3,649 
Prepaid expenses and other current assets
  890 
  993 
 Total current assets
  19,174 
  25,487 
 
    
    
PROPERTY AND EQUIPMENT, net of accumulated depreciation of
    
    
$6,370 at December 31, 2018 and $4,980 at December 31, 2017
  5,809 
  4,719 
GOODWILL
  17,309 
  17,471 
INTANGIBLES, net
  4,740 
  5,254 
OTHER ASSETS, net
  3,067
 
  3,847 
DEFERRED TAX ASSETS, net 
  375
 
  -
 

 $50,474 
 $56,778 
 
    
    
LIABILITIES AND STOCKHOLDERS' EQUITY
    
    
CURRENT LIABILITIES
    
    
Accounts payable
 $6,284 
 $5,423 
Accrued commissions
  2,116 
  2,467 
Accrued expenses and other liabilities
  5,655 
  5,337 
Sales tax payable
  1,020 
  787 
Deferred revenue - current portion
  10,382 
  15,540 
Notes payable and capital lease obligations - current portion
  9,304
 
  3,674 
Notes payable - related parties - current portion
  582
 
  86 
Due to related party
  10 
  390 
Total current liabilities
  35,353 
  33,704 
 
    
    
LONG-TERM LIABILITIES
    
    
Notes payable and capital lease obligations, net of current portion
  400 
  4,834 
Notes payable - related parties, net of current portion
  245 
  259 
Deferred revenue, net of current portion
  7,704 
  7,526 
Deferred tax liability
  124 
  220 
Other long-term liabilities
  1,037 
  1,083 
Total long-term liabilities
  9,510 
  13,922 
 
    
    
COMMITMENTS AND CONTINGENCIES (NOTE P)
    
    
 
    
    
STOCKHOLDERS' EQUITY
    
    
Preferred stock, $.01 par value; 1,000,000 shares authorized; nil shares
    
    
 issued and outstanding at December 31, 2018 and 2017
  - 
  - 
Common stock, $.001 par value; 250,000,000 shares authorized;
    
    
177,417,287 and 175,741,970 shares issued at December 31, 2018
    
    
and 2017, respectively; 167,109,200 and 165,433,883 shares
    
    
outstanding at December 31, 2018 and 2017, respectively
  178 
  176 
Additional paid-in capital
  63,672 
  63,363 
Accumulated deficit
  (55,924)
  (52,329)
Accumulated other comprehensive loss
  (315)
  (58)
Treasury stock, at cost, 10,308,087 shares at December 31, 2018 and 2017
  (2,000)
  (2,000)
Total stockholders’ equity
  5,611 
  9,152 
 
 $50,474 
 $56,778 
 
See Note B for Variable Interest Entity disclosures
 
The accompanying notes are an integral part of these consolidated financial statements.
 
 
F-3
 
 
Vaso Corporation and Subsidiaries
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
 (in thousands, except per share data)
 
 
 
   Year ended
 
 
 
  December 31,
 
 
 
2018
 
 
2017
 
Revenues
 
 
 
 
 
 
Managed IT systems and services
 $44,228 
 $42,581 
Professional sales services
  25,511 
  26,443 
Equipment sales and services
  4,241 
  3,764 
Total revenues
  73,980 
  72,788 
 
    
    
Cost of revenues
    
    
Cost of managed IT systems and services
  25,849 
  24,958 
Cost of professional sales services
  5,346 
  5,813 
Cost of equipment sales and services
  1,661 
  1,286 
Total cost of revenues
  32,856 
  32,057 
Gross profit
  41,124 
  40,731 
 
    
    
Operating expenses
    
    
Selling, general and administrative
  43,962 
  43,618 
Research and development
  886 
  945 
Total operating expenses
  44,848 
  44,563 
Operating loss
  (3,724)
  (3,832)
 
    
    
Other income (expense)
    
    
Interest and financing costs
  (750)
  (674)
Interest and other income, net
  143 
  101 
Gain on sale of investment in VSK
  212 
  - 
Total other expense, net
  (395)
  (573)
 
    
    
Loss before income taxes
  (4,119)
  (4,405)
Income tax benefit (expense)
  385 
  (134)
Net loss
  (3,734)
  (4,539)
 
    
    
Other comprehensive loss
    
    
Foreign currency translation (loss) gain
  (257)
  271 
Comprehensive loss
 $(3,991)
 $(4,268)
 
    
    
Loss per common share
    
    
- basic and diluted
 $(0.02)
 $(0.03)
 
    
    
Weighted average common shares outstanding
    
    
- basic and diluted
  165,420 
  162,213 
 
The accompanying notes are an integral part of these consolidated financial statements.
 
F-4
 
 
Vaso Corporation and Subsidiaries
  CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional
 
 
 
 
 
Other
 
 
Total
 
 
 
Common Stock
 
 
Treasury Stock
 
 
Paid-in
 
 
Accumulated
 
 
Comprehensive
 
 
 Stockholders’
 
 
 
Shares
 
 
Amount
 
 
Shares
 
 
Amount
 
 
Capital
 
 
Deficit
 
 
 Loss
 
 
Equity
 
Balance at January 1, 2017
  173,812 
 $174 
  (10,308)
 $(2,000)
 $62,856 
 $(47,790)
 $(329)
 $12,911 
Share-based compensation
  1,930 
  2 
  - 
  - 
  512 
  - 
  - 
  514 
Shares not issued for employee tax liability
  - 
  - 
  - 
  - 
  (5)
  - 
  - 
  (5)
Foreign currency translation gain
  - 
  - 
  - 
  - 
  - 
  - 
  271 
  271 
Net loss
  - 
  - 
  - 
  - 
  - 
  (4,539)
  - 
  (4,539)
Balance at December 31, 2017
  175,742 
 $176 
  (10,308)
 $(2,000)
 $63,363 
 $(52,329)
 $(58)
 $9,152 
Share-based compensation
  1,675 
  2 
  - 
  - 
  311 
  - 
  - 
  313 
Adoption of new accounting standard (*)
  - 
  - 
  - 
  - 
  - 
  139 
  - 
  139 
Shares not issued for employee tax liability
  - 
  - 
  - 
  - 
  (2)
  - 
  - 
  (2)
Foreign currency translation loss
  - 
  - 
  - 
  - 
  - 
  - 
  (257)
  (257)
Net loss
  - 
  - 
  - 
  - 
  - 
  (3,734)
  - 
  (3,734)
Balance at December 31, 2018
  177,417 
 $178 
  (10,308)
 $(2,000)
 $63,672 
 $(55,924)
 $(315)
 $5,611 
 
(*) Accounting Standards Codification Topic 606, Revenue from Contracts with Customers.
 
The accompanying notes are an integral part of these consolidated financial statements.
 
F-5
 
 
Vaso Corporation and Subsidiaries
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
 
 
 
 Year ended
 
 
 
December 31,
 
 
 
2018
 
 
2017
 
Cash flows from operating activities
 
 
 
 
 
 
Net loss
 $(3,734)
 $(4,539)
Adjustments to reconcile net loss to net
    
    
  cash (used in) provided by operating activities
    
    
Depreciation and amortization
  2,522 
  2,426 
Deferred income taxes
  (374)
  216 
Loss from interest in joint venture
  9 
  20 
Gain on sale of investment in VSK
  (212)
  - 
Loss on disposal of property and equipment
  - 
  3 
Provision for doubtful accounts and commission adjustments
  460
  271 
Amortization of debt issue costs
  32 
  33 
Share-based compensation
  313 
  514 
Changes in operating assets and liabilities:
    
    
Accounts and other receivables
  1,725
  (737)
Receivables due from related parties
  - 
  (25)
Inventories, net
  329 
  87 
Deferred commission expense
  1,174 
  (1,732)
Prepaid expenses and other current assets
  98 
  (66)
Other assets, net
  223 
  1,036 
Accounts payable
  864 
  197 
Accrued commissions
  (599)
  296 
Accrued expenses and other liabilities
  602 
  27 
Sales tax payable
  239 
  67 
Deferred revenue
  (4,981)
  3,663 
Deferred tax liability
  (97)
  108 
Other long-term liabilities
  (46)
  (266)
Net cash (used in) provided by operating activities
  (1,453)
  1,599 
 
    
    
Cash flows from investing activities
    
    
Purchases of equipment and software
  (2,586)
  (2,374)
Proceeds from sale of investment in VSK
  311 
  - 
Net cash used in investing activities
  (2,275)
  (2,374)
 
    
    
Cash flows from financing activities
    
    
Net borrowings (repayments) on revolving line of credit
  778 
  (384)
Payroll taxes paid by withholding shares
  (2)
  (5)
Proceeds from note payable
  21 
  - 
Repayment of notes payable and capital lease obligations
  (156)
  (328)
Proceeds from (payments on) notes payable - related parties
  500 
  (335)
Net cash provided by (used in) financing activities
  1,141 
  (1,052)
Effect of exchange rate differences on cash and cash equivalents
  10 
  (15)
 
    
    
NET DECREASE IN CASH AND CASH EQUIVALENTS
  (2,577)
  (1,842)
Cash and cash equivalents - beginning of year
  5,245 
  7,087 
Cash and cash equivalents - end of year
 $2,668 
 $5,245 
 
    
    
SUPPLEMENTAL DISCLOSURE OF CASH INFORMATION
    
    
Interest paid
 $701 
 $639 
Income taxes paid
 $79 
 $58 
 
    
    
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
    
    
Equipment acquired through capital lease
 $529 
 $- 
 
The accompanying notes are an integral part of these consolidated financial statements.ES TO CONSOLIDATED FINANCIAL STATEMENTS
 
F-6
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
NOTE A – DESCRIPTION OF BUSINESS AND GOING CONCERN ASSESSMENT
 
Vaso Corporation was incorporated in Delaware in July 1987. For most of its history, the Company was a single-product company designing, manufacturing, marketing and servicing its proprietary Enhanced External Counterpulsaion, or EECP®, therapy systems, mainly for the treatment of angina. In 2010 it began to diversify its business operations. The Company changed its name to Vaso Corporation in 2016 to more accurately reflect the diversified nature of its business mixture, and continues to use the original name VasoMedical for its proprietary medical device subsidiary. Unless the context requires otherwise, all references to “we”, “our”, “us”, “Company”, “registrant”, “Vaso” or “management” refer to Vaso Corporation and its subsidiaries.
 
Overview
 
Vaso Corporation principally operates in three distinct business segments in the healthcare equipment and information technology industries. We manage and evaluate our operations, and report our financial results, through these three business segments.
 
IT segment, operating through a wholly-owned subsidiary VasoTechnology, Inc., primarily focuses on healthcare IT and managed network technology services;
 
Professional sales service segment, operating through a wholly-owned subsidiary Vaso Diagnostics, Inc. d/b/a VasoHealthcare, primarily focuses on the sale of healthcare capital equipment for General Electric Healthcare (“GEHC”) into the health provider middle market; and
 
Equipment segment, primarily focuses on the design, manufacture, sale and service of proprietary medical devices, operating through a wholly-owned subsidiary VasoMedical, Inc., which in turn operates through Vasomedical Solutions, Inc. for domestic business and Vasomedical Global Corp. for international business, respectively.
 
VasoTechnology
 
VasoTechnology, Inc. was formed in May 2015, at the time the Company acquired all of the assets of NetWolves, LLC and its affiliates, including the membership interests in NetWolves Network Services, LLC (collectively, “NetWolves”). It currently consists of a managed network and security service division, NetWolves, and a healthcare IT application VAR (value added reseller) division, VasoHealthcare IT.
 
In June 2014, the Company began its IT segment business by executing the Value Added Reseller Agreement (“VAR Agreement”) with GEHC to become a national value added reseller of GEHC Digital’s software solutions such as Picture Archiving and Communication System (“PACS”), Radiology Information System (“RIS”), and related services, including implementation, training, management and support. This multiyear VAR Agreement focuses primarily on existing customer segments currently served by VasoHealthcare on behalf of GEHC. A new wholly owned subsidiary, VasoHealthcare IT Corp. (“VHC IT”), was formed to conduct the healthcare IT business.
 
In May 2015, the Company further expanded its IT segment business by acquiring NetWolves. NetWolves designs and delivers multi-network and multi-technology solutions as a managed network provider, and provides a complete single-source solution that includes design, network redundancy, application device management, real-time network monitoring, reporting and support systems as a comprehensive solution.
 
 
F-7
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
VasoHealthcare
 
In May 2010, the Company launched its Professional Sales Service business through a wholly-owned subsidiary Vaso Diagnostics, Inc. d/b/a VasoHealthcare, which was appointed the exclusive representative for the sale of select GEHC diagnostic imaging equipment to specific market segments in the 48 contiguous states of the United States and the District of Columbia. The original agreement (“GEHC Agreement”) has been extended several times and currently expires December 31, 2022, subject to earlier termination under certain circumstances.
 
VasoMedical
 
The proprietary medical equipment business now all under VasoMedical traces back to 1995 when the Company began the external counterpulsation technology in the United States. Vasomedical Global was formed in 2011 to combine and coordinate the various international operations including design, development, manufacturing, and sales of medical devices, while domestic activities are under Vasomedical Solutions.
 
The Company’s Equipment business also has been significantly expanded from the original EECP®-only operations. In September 2011, the Company acquired FGE, a British Virgin Islands company, which owns or controls two Chinese operating companies - Life Enhancement Technology Ltd. (“LET”) based in Foshan, China, and Biox Instruments Co. Ltd. (“Biox”) based in Wuxi, China, respectively - to expand its technical and manufacturing capabilities and to enhance its distribution network, technology, and product portfolio. Biox is a variable interest entity (“VIE”) controlled by FGE through certain contracts and an option to acquire all the shares of Biox. In August 2014, the Company acquired all of the outstanding shares of Genwell Instruments Co. Ltd. (“Genwell”), located in Wuxi, China. Genwell was formed in China in 2010 with the assistance of a government grant to develop the MobiCare™ wireless multi-parameter patient monitoring system and holds intellectual property rights for this system. As a result, the Company has now expanded its equipment products portfolio to include Biox™ series ambulatory patient monitoring systems, ARCS™ series software for ECG and blood pressure analysis, and the MobiCare™ patient monitoring device. In 2017, as an effort to further reduce engineering and production cost of its EECP® products, the Company moved the operations of LET from Foshan, China to Biox in Wuxi, China, and closed LET in 2018.
 
In April 2014, the Company entered into a cooperation agreement with Chongqing PSK-Health Sci-Tech Development Co., Ltd. (“PSK”) of Chongqing, China, the leading manufacturer of external counter pulsation, or ECP, therapy systems in China, to form a joint venture company, VSK Medical Limited (“VSK”), a Cayman Islands company, for the global marketing, sale and advancement of ECP therapy technology. The Company owned 49.9% of VSK, which commenced operations in January 2015. In March 2018, the Company terminated the cooperation agreement with PSK and sold its shares in VSK to PSK (see Note K).
 
Going concern assessment
 
We have incurred net losses from operations for the years ended December 31, 2018 and 2017, and we maintain lines of credit from a lending institution and these lines of credit will require further extensions after their current June 28, 2019 maturity date. These events raise substantial doubt about our ability to continue as a going concern. Our ability to continue operating as a going concern is dependent upon achieving profitability, extending the maturity date of our existing lines of credit, or through additional debt or equity financing. Achieving profitability is largely dependent on our ability to reduce operating costs and to maintain or increase our current revenue. While we believe we will continue to maintain or increase our gross revenue and are in the process of reducing operating costs, and while historically we have received extensions of the maturity dates of our lines of credit, failure to achieve these objectives could cast doubt on our ability to continue as a going concern.
  
 
F-8
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
A summary of the significant accounting policies consistently applied in the preparation of the consolidated financial statements are as follows:
 
Principles of Consolidation
 
The consolidated financial statements include the accounts of Vaso Corporation, its wholly-owned subsidiaries, and the variable interest entity where the Company is the primary beneficiary. Significant intercompany balances and transactions have been eliminated.
 
Variable Interest Entity
 
Basic Information
 
The Company follows the guidance of accounting for variable interest entities, which requires certain variable interest entities to be consolidated by the primary beneficiary of the entities.
 
Biox is a Variable Interest Entity (“VIE”). Laws and regulations of the Peoples Republic of China (“PRC”) prohibit or restrict companies with foreign ownership from certain activities and benefits including eligibility for certain government grants and certain rebates related to commercial activities. To provide the Company the expected residual returns of the VIE, the Company, through its wholly-owned subsidiary Gentone, entered into a series of contractual arrangements with Biox and its registered shareholders to enable the Company, to:
 
exercise effective control over the VIE;
receive substantially all of the economic benefits and residual returns, and absorb substantially all the risks of the VIE as if they were their sole shareholders; and
have an exclusive option to purchase all of the equity interests in the VIE.
 
The Company’s management evaluated the relationships between the Company and Biox, and the economic benefits flow of the applicable contractual arrangements. The Company concluded that it is the primary beneficiary of Biox. As a result, the results of operations, assets and liabilities of Biox have been included in the Company’s consolidated financial statements.
 
The significant agreements through which the Company exercises effective control over Biox are:
 
the Exclusive Technical Consulting Services Agreement between Biox and Gentone;
the Option Agreement on Purchase of the Equity Interest executed by and among the shareholders of Biox and Gentone;
the Equity Pledge Agreement executed by and among the shareholders of Biox and Gentone; and
the Powers of Attorney issued by the shareholders of Biox.
 
 
F-9
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
Financial Information of VIE
 
Liabilities recognized as a result of consolidating this VIE do not represent additional claims on the Company’s general assets. VIE assets can be used to settle obligations of the primary beneficiary. The financial information of Biox, which was included in the accompanying consolidated financial statements, is presented as follows:
 
 
 
(in thousands)
 
 
 
As of December 31,
 
 
 
2018
 
 
2017
 
 
 
 
 
 
 
 
Cash and cash equivalents
 $97 
 $41 
Total assets
 $1,641 
 $1,599 
Total liabilities
 $1,662 
 $1,745 
 
 
 
 
(in thousands)
 
 
 
Year ended December 31,
 
 
 
2018
 
 
2017
 
 
 
 
 
 
 
 
Total net revenue
 $2,294 
 $1,597 
 
    
    
Net income (loss)
 $111 
 $(524)
 
Use of Estimates
 
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions relate to estimates of collectibility of accounts receivable, the realizability of deferred tax assets, stock-based compensation, values and lives assigned to acquired intangible assets, fair value of reporting units in connection with goodwill impairment test, the adequacy of inventory reserves, variable consideration, and allocation of contract transaction price to performance obligations. Actual results could differ from those estimates.
 
Revenue Recognition
 
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). Under the standard, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. ASU 2014-09 replaced most existing revenue recognition guidance in U.S. GAAP. The new standard introduces a five-step process to be followed in determining the amount and timing of revenue recognition. It also provides guidance on accounting for costs incurred to obtain or fulfill contracts with customers, and establishes disclosure requirements which are more extensive than those required under prior U.S. GAAP. Generally, we recognize revenue under Topic 606 for each of our performance obligations either over time (generally, the transfer of a service) or at a point in time (generally, the transfer of a good) as follows:
 
VasoTechnology
 
Revenue relating to recurring managed network and voice services provided by NetWolves are recognized as provided on a monthly basis (“over time”). Non-recurring charges related to the provision of such services are recognized in the period provided (“point in time”). In the IT VAR business, software system installations are recognized upon verification of installation and expiration of an acceptance period (“point in time”). Monthly post-implementation customer support provided under such installations as well as software solutions offered under a monthly Software as a Service (“SaaS”) fee basis are recognized monthly over the contract term (“over time”).
 
 
F-10
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
VasoHealthcare
 
Commission revenue is recognized when the underlying equipment has been delivered by GEHC and accepted at the customer site in accordance with the terms of the specific sales agreement (“point in time”).
 
VasoMedical
 
In the United States, we recognized revenue from the sale of our medical equipment in the period in which we deliver the product to the customer (“point in time”). Revenue from the sale of our medical equipment to international markets is recognized upon shipment of the product to a common carrier, as are supplies, accessories and spare parts delivered in both domestic and international markets (“point in time”). The Company also recognizes revenue from the maintenance of EECP® systems either on a time and material as-billed basis (“point in time”) or through the sale of a service contract, where revenue is recognized ratably over the contract term (“over time”).
 
Impact of Adoption
 
Effective January 1, 2018, the Company adopted the requirements of Topic 606 using the modified retrospective method, which provided that the cumulative effect from prior periods upon applying the new guidance was recognized in our consolidated balance sheets as of the date of adoption, including an adjustment to retained earnings, and that prior periods are not retrospectively adjusted. The Company elected to apply the modified retrospective method only to contracts that were not completed at January 1, 2018. A summary and discussion of such cumulative effect adjustment and the impact on current period financial statements of adopting Topic 606 is as follows:
 
 
 
 (in thousands)
 
 
 
Year ended December 31, 2018
 
 
 
prior U.S. GAAP
 
 
Topic 606 impact
 
 
as reported
 
STATEMENT OF OPERATIONS
 
 
 
 
 
 
 
 
 
Revenues
 
 
 
 
 
 
 
 
 
Professional sales services
 $25,511 
 $- 
 $25,511 
Total revenues
  73,980 
  - 
  73,980 
 
    
    
    
Gross Profit
  41,124 
  - 
  41,124 
 
    
    
    
Operating expenses
    
    
    
Selling, general and administrative
  44,083 
  (121)
  43,962 
Operating loss
 $(3,845)
 $121 
 $(3,724)
 
 
F-11
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
 
 
 (in thousands)
 
 
 
As of December 31, 2018
 
 
 
prior U.S. GAAP
 
 
Topic 606 impact
 
 
as reported
 
ASSETS
 
 
 
 
 
 
 
 
 
Accounts and other receivables, net
 $11,028 
 $- 
 $11,028 
Deferred commission expense
 $2,577 
 $8 
 $2,585 
Other assets, net
 $3,252 
 $190 
 $3,442 
 
    
    
    
LIABILITIES AND STOCKHOLDERS' EQUITY
    
    
    
Deferred revenue - current portion
 $10,382 
 $- 
 $10,382 
Deferred revenue - long term
 $7,704 
 $- 
 $7,704 
Accumulated deficit
 $(56,185)
 $261 
 $(55,924)
 
Disaggregation of Revenue
 
The following tables present revenues disaggregated by our business operations and timing of revenue recognition:
 
 
 
Year ended December 31, 2018
 
 
Year ended December 31, 2017
 
 
 
 
 
 
Professional sales
 
 
 Equipment
 
 
 
 
 
 
 
 
Professional sales
 
 
 Equipment
 
 
 
 
 
 
IT segment
 
 
service segment
 
 
segment
 
 
Total
 
 
IT segment
 
 
service segment
 
 
segment
 
 
Total
 
Network services
 $40,254 
 
 
 
 
 
 
 $40,254 
 $38,882 
 
 
 
 
 
 
 $38,882 
Software sales and support
  3,974 
 
 
 
 
 
 
  3,974 
  3,699 
 
 
 
 
 
 
  3,699 
Commissions
    
  25,511 
 
 
 
  25,511 
    
  26,443 
 
 
 
  26,443 
Medical equipment sales
    
    
  3,151 
  3,151 
    
    
  2,660 
  2,660 
Medical equipment service
    
    
  1,090 
  1,090 
    
    
  1,104 
  1,104 
 
 $44,228 
 $25,511 
 $4,241 
 $73,980 
 $42,581 
 $26,443 
 $3,764 
 $72,788 
 
 
 
 
Year ended December 31, 2018
 
 
Year ended December 31, 2017
 
 
 
 
 
 
Professional sales
 
 
 Equipment
 
 
 
 
 
 
 
 
Professional sales
 
 
 Equipment
 
 
 
 
 
 
IT segment
 
 
service segment
 
 
segment
 
 
Total
 
 
IT segment
 
 
service segment
 
 
segment
 
 
Total
 
Revenue recognized over time
 $39,340 
 $- 
 $658 
 $39,998 
 $37,629 
 $- 
 $707 
 $38,336 
Revenue recognized at a point in time
  4,888 
  25,511 
  3,583 
  33,982 
  4,952 
  26,443 
  3,057 
  34,452 
 
 $44,228 
 $25,511 
 $4,241 
 $73,980 
 $42,581 
 $26,443 
 $3,764 
 $72,788 
 
 
F-12
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
Transaction Price Allocated to Remaining Performance Obligations
 
As of December 31, 2018, the aggregate amount of transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) for executed contracts approximates $82.2 million, of which we expect to recognize revenue as follows:
 
 
 
Fiscal years of revenue recognition
 
 
 
2019
 
 
2020
 
 
2021
 
 
Thereafter
 
Unfulfilled performance obligations
 $41,271 
 $26,087 
 $8,595 
 $6,278 
 
Contract Liabilities
 
Contract liabilities arise in our IT VAR, VasoHealthcare, and VasoMedical businesses. In our IT VAR business, payment arrangements with clients typically include an initial payment due upon contract signing and milestone-based payments based upon product delivery and go-live, as well as post go-live monthly payments for subscription and support fees. Customer payments received, or receivables recorded, in advance of go-live and customer acceptance, where applicable, are deferred as contract liabilities. Such amounts aggregated approximately $344,000 and $371,000 at December 31, 2018 and 2017, respectively, and are included in accrued expenses and other liabilities in our consolidated balance sheets.
 
In our VasoHealthcare business, we bill a portion of commissions on the orders we booked in advance of delivery of the underlying equipment. Such amounts aggregated approximately $17,098,000 and $22,126,000 at December 31, 2018 and 2017, respectively, and are classified in our consolidated balance sheets into current or long-term deferred revenue. In addition, we record a contract liability for amounts expected to be credited back to GEHC due to customer order reductions. Such amounts aggregated approximately $2,315,000 and $1,143,000 at December 31, 2018 and 2017, respectively, and are included in accrued expenses and other liabilities in our consolidated balance sheets.
 
In our VasoMedical business, we bill amounts for post-delivery services and varying duration service contracts in advance of performance. Such amounts aggregated approximately $988,000 and $941,000 at December 31, 2018 and 2017, respectively, and are classified in our consolidated balance sheets as either current or long-term deferred revenue.
 
During the year ended December 31, 2018, we recognized approximately $7.3 million of revenues that were included in our contract liability balance at the beginning of such period.
 
Costs to Obtain or Fulfill a Contract
 
Topic 606 requires that incremental costs of obtaining a contract are recognized as an asset and amortized to expense in a pattern that matches the timing of the revenue recognition of the related contract. We have determined the only significant incremental costs incurred to obtain contracts with customers within the scope of Topic 606 are certain sales commissions paid to associates. In addition, the Company elected the practical expedient to recognize the incremental costs of obtaining a contract when incurred for contracts where the amortization period for the asset the Company would otherwise have recognized is one year or less.
 
 
F-13
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
Under prior U.S. GAAP, we recognized sales commissions in our equipment segment as incurred. Under Topic 606, sales commissions applicable to service contracts exceeding one year have been capitalized and amortized ratably over the term of the contract. In our IT VAR business, all commissions paid in advance of go-live were, under prior U.S. GAAP, capitalized as deferred commission expense and charged to expense at go-live or customer acceptance, as applicable. Under Topic 606, IT VAR commissions allocable to multi-year subscription contracts or multi-year post-contract support performance obligations are amortized to expense ratably over the terms of the multi-year periods. IT VAR commissions allocable to other elements continue to be charged to expense at go-live or customer acceptance, as was previously done. At the date of adoption of Topic 606, we recorded an asset, and related adjustment to retained earnings, of approximately $139,000 in our consolidated balance sheets for the amount of unamortized sales commissions for prior periods, as calculated under the new guidance. The impact to our financial statements of adopting Topic 606, as it relates to costs to obtain contracts, was a reduction in commission expense of approximately $121,000 for the year ended December 31, 2018, an increase in deferred commission expense of approximately $8,000, and an increase in long term deferred commission expense (recorded in other assets) of approximately $190,000 (inclusive of the beginning balance adjustment of $139,000).
 
In our professional sales services segment, under both prior U.S. GAAP and Topic 606, commissions paid to our sales force are deferred until the underlying equipment is accepted by the customer.
 
At December 31, 2018, our consolidated balance sheet includes approximately $4,562,000 in capitalized sales commissions to be expensed in future periods, of which $2,585,000 is recorded in deferred commission expense and $1,977,000, representing the long-term portion, is included in other assets.
 
Significant Judgments when Applying Topic 606
 
Contract transaction price is allocated to performance obligations using estimated stand-alone selling price. Judgment is required in estimating stand-alone selling price for each distinct performance obligation. We determine stand-alone selling price maximizing observable inputs such as stand-alone sales when they exist or substantive renewal price charged to clients. In instances where stand-alone selling price is not observable, we utilize an estimate of stand-alone selling price based on historical pricing and industry practices.
 
Certain revenue we record in our professional sales service segment contains an estimate for variable consideration. Due to the tiered structure of our commission rate, which increases as annual targets are achieved, under Topic 606 we record revenue and deferred revenue at the rate we expect to be achieved by year end. Under prior U.S. GAAP, we recognized revenue at the rate achieved at the applicable reporting date. We base our estimate of variable consideration on historical results of previous years’ achievement under the GEHC agreement. Such estimate will be reviewed each quarter and adjusted as necessary. The Company recognized reductions in revenue associated with revisions to variable consideration for previously completed performance obligations of $165,000 for the year ended December 31, 2018.
 
Shipping and Handling Costs
 
All shipping and handling expenses are charged to cost of sales. Amounts billed to customers related to shipping and handling costs are included as a component of sales.
 
Research and Development
 
Research and development costs attributable to development are expensed as incurred.
 
 
F-14
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
Share-Based Compensation
 
The Company complies with ASC Topic 718, “Compensation – Stock Compensation” (“ASC 718”), and ASC Topic 505, “Equity” (“ASC 505”), which requires all companies to recognize the cost of services received in exchange for equity instruments, to be recognized in the financial statements based on their fair values. For employees and non-employee directors, the fair value is measured on the grant date and for non-employees, the fair value is measured on the measurement date and re-measured at each reporting period until performance is complete. The Company applies an estimated forfeiture rate to the grant date fair value to determine the annual compensation cost of share-based payment arrangements with employees. The forfeiture rate is estimated based primarily on job title and prior forfeiture experience. The Company did not grant any awards to non-employees during the years ended December 31, 2018 and 2017.
 
During the year ended December 31, 2018, the Company granted 975,000 restricted shares of common stock valued at $63,000 to non-officer employees, and 725,000 restricted shares of common stock valued at $44,000 to officers. The 975,000 shares granted to non-officer employees vest at various times over three to five years from the grant date and the 725,000 shares granted to officers vested in April 2018. The total fair value of shares vested during the year ended December 31, 2018 was $385,000 for employees. The weighted average grant date fair value of shares granted during the year ended December 31, 2018 was $0.06 per share.
 
During the year ended December 31, 2017, the Company granted 50,000 restricted shares of common stock valued at $6,000 to non-officer employees, and 925,000 restricted shares of common stock valued at $111,000 to officers. The 975,000 shares granted vested on April 1, 2017. The total fair value of shares vested during the year ended December 31, 2017 was $467,000 for employees. The weighted average grant date fair value of shares granted during the year ended December 31, 2017 was $0.12 per share.
 
The Company did not grant any stock options during the years ended December 31, 2018 or 2017, nor were any options exercised during such periods. No options were outstanding at December 31, 2018 or 2017.
 
Share-based compensation expense recognized for the years ended December 31, 2018 and 2017 was $313,000 and $514,000, respectively, and is recorded in selling, general, and administrative expense in the consolidated statements of operations and comprehensive loss. Unrecognized expense related to existing share-based compensation and arrangements is approximately $207,000 at December 31, 2018 and will be recognized over a weighted-average period of approximately 12 months.
 
Cash and Cash Equivalents
 
Cash and cash equivalents represent cash and short-term, highly liquid investments either in certificates of deposit, treasury bills, money market funds, or investment grade commercial paper issued by major corporations and financial institutions that generally have maturities of three months or less from the date of acquisition.
 
Accounts Receivable, net
 
The Company’s accounts receivable are due from customers to whom we sell our products and services, distributors engaged in the distribution of our products and from GEHC. Credit is extended based on evaluation of a customer’s financial condition and, generally, collateral is not required. Accounts receivable are generally due 30 to 90 days from shipment and services provided and are stated at amounts due from customers net of allowances for doubtful accounts, returns, term discounts and other allowances. Accounts that are outstanding longer than the contractual payment terms are considered past due. Estimates are used in determining the allowance for doubtful accounts based on the Company’s historical collections experience, current trends, credit policy and a percentage of its accounts receivable by aging category. In determining these percentages, the Company reviews historical write-offs of their receivables. The Company also looks at the credit quality of their customer base as well as changes in their credit policies. The Company continuously monitors collections and payments from our customers, and writes off receivables when all efforts at collection have been exhausted. While credit losses have historically been within expectations and the provisions established, the Company cannot guarantee that it will continue to experience the same credit loss rates that they have in the past.
 
 
F-15
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
The changes in the Company’s allowance for doubtful accounts and commission adjustments are as follows:
 
 
 
(in thousands)
 
 
 
Year ended December 31,
 
 
 
2018
 
 
2017
 
Beginning Balance
 $4,872 
 $4,159 
Provision for losses on accounts receivable
  460 
  157 
Direct write-offs, net of recoveries
  (268)
  (212)
Commission adjustments
  (1,070)
  768 
Ending Balance
 $3,994 
 $4,872 
 
Concentrations of Credit Risk
 
We market our equipment and IT software solutions principally to hospitals, diagnostic imaging centers and physician private practices. We perform credit evaluations of our customers’ financial condition and, as a result, believe that our receivable credit risk exposure is limited. For the years ended December 31, 2018 and 2017, no customer in our equipment or IT segment accounted for 10% or more of revenues or accounts receivable. In our professional sales service segment, 100% of our revenues and accounts receivable are with GEHC; however, we believe this risk is acceptable based on GEHC’s financial position and our long history of doing business with GEHC.
 
The Company maintains cash balances in certain U.S. financial institutions, which, at times, may exceed the Federal Depository Insurance Corporation (“FDIC”) coverage of $250,000.  The Company has not experienced any losses on these accounts and believes it is not subject to any significant credit risk on these accounts. In addition, the FDIC does not insure the Company’s foreign bank balances, which aggregated approximately $519,000 and $709,000 at December 31, 2018 and 2017, respectively.
 
Inventories, net
 
The Company values inventories in the equipment segment at the lower of cost or net realizable value, with cost being determined on a first-in, first-out basis. The Company occasionally places EECP® systems and other medical device products at various field locations for demonstration, training, evaluation, and other similar purposes at no charge. The cost of these products is transferred to property and equipment and is amortized over two to five years. The Company records the cost of refurbished components of EECP® systems and critical components at cost plus the cost of refurbishment. The Company regularly reviews inventory quantities on hand, particularly raw materials and components, and records a provision for excess and slow moving inventory based primarily on existing and anticipated design and engineering changes to its products as well as forecasts of future product demand.
 
In our IT Segment, we purchase computer hardware and software for specific customer requirements and value such inventories using the specific identification method.
 
Property and Equipment
 
Property and equipment, including assets under capital lease, are stated at cost less accumulated depreciation and amortization. Major improvements are capitalized and minor replacements, maintenance and repairs are charged to expense as incurred. Upon retirement or disposal of assets, the cost and related accumulated depreciation are removed from the consolidated balance sheets. Depreciation is expensed over the estimated useful lives of the assets, which range from two to eight years, on a straight-line basis. Accelerated methods of depreciation are used for tax purposes. We amortize leasehold improvements over the useful life of the related leasehold improvement or the life of the related lease, whichever is less.
 
 
F-16
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
Goodwill and Intangible Assets
 
Goodwill represents the excess of cost over the fair value of net assets of businesses acquired. The Company accounts for goodwill under the guidance of the ASC Topic 350, “Intangibles: Goodwill and Other”. Goodwill acquired in a purchase business combination is not amortized, but instead tested for impairment, at least annually, in accordance with this guidance. The recoverability of goodwill is subject to an annual impairment test or whenever an event occurs or circumstances change that would more likely than not result in an impairment. The Company tests goodwill for impairment at the reporting unit level on an annual basis as of December 31 and between annual tests when an event occurs or circumstances change that could indicate that the asset might be impaired. In any year, the Company may elect to perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is in excess of its carrying value. If the Company cannot determine qualitatively that the fair value is in excess of the carrying value, or the Company decides to bypass the qualitative assessment, the Company proceeds to the quantitative goodwill impairment test, which compares the fair value of each reporting unit to its carrying amount, including goodwill. If the fair value of each reporting unit exceeds its carrying amount, goodwill is not considered to be impaired. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized for an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. No impairment loss was recorded as of December 31, 2018 and 2017.
 
Intangible assets consist of the value of customer contracts and relationships, patent and technology costs, and software. The cost of significant customer-related intangibles is amortized in proportion to estimated total related revenue; cost of other intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life, which range from five to ten years. The Company capitalizes internal use software development costs incurred during the application development stage. Costs related to preliminary project activities, training, data conversion, and post implementation activities are expensed as incurred. The Company capitalized $527,000 and $398,000 in software development costs for the years ended December 31, 2018 and 2017, respectively.
 
Impairment of Long-lived Assets
 
The Company reviews the recoverability of all long-lived assets, including the related useful lives, whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset might not be recoverable. If required, the Company compares the estimated fair value determined by either the undiscounted future net cash flows or appraised value to the related asset’s carrying value to determine whether there has been an impairment. If an asset is considered impaired, the asset is written down to fair value, which is based either on discounted cash flows or appraised values in the period the impairment becomes known. No assets were determined to be impaired as of December 31, 2018 and 2017.
 
Deferred Revenue
 
Amounts billable under the agreement with GEHC in advance of delivery of the underlying equipment are recorded initially as deferred revenue, and commission revenue is subsequently recognized as customer acceptance of such equipment is reported to us by GEHC. Similarly, commissions payable to our sales force related to such billings are recorded as deferred commission expense when the associated deferred revenue is recorded. Commission expense is recognized when the corresponding commission revenue is recognized.
 
We record revenue on extended service contracts ratably over the term of the related service contracts. Under the provisions of ASC 606, we defer revenue related to EECP® system sales for the fair value of installation and in-service training to the period when the services are rendered and for service obligations ratably over the service period, which is generally one year. (See Note I)
 
 
F-17
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
Income Taxes
 
Deferred income taxes are recognized for temporary differences between financial statement and income tax bases of assets and liabilities and loss carry-forwards for which income tax benefits are expected to be realized in future years. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized. In estimating future tax consequences, we generally consider all expected future events other than an enactment of changes in the tax laws or rates. Deferred tax assets are continually evaluated for the expected realization. To the extent our judgment regarding the realization of the deferred tax assets changes, an adjustment to the allowance is recorded, with an offsetting increase or decrease, as appropriate, in income tax expense. Such adjustments are recorded in the period in which our estimate as to the realization of the assets changed that it is “more likely than not” that all of the deferred tax assets will be realized. The “realization” standard is subjective and is based upon our estimate of a greater than 50% probability that the deferred tax asset can be realized.
 
The Company also complies with the provisions of ASC Topic 740, “Income Taxes”, which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by the relevant taxing authority based on the technical merits. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. Derecognition of a tax benefit previously recognized results in the Company recording a tax liability that reduces ending retained earnings. Based on its analysis, the Company has determined that it has not incurred any liability for unrecognized tax benefits as of December 31, 2018 and 2017. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2018 and 2017. Generally, the Company is no longer subject to income tax examinations by major domestic taxing authorities for years before 2015. According to the China tax regulatory framework, there is no statute of limitations on examination of tax filings by tax authorities. However, the general practice is going back five years. Management is currently unaware of any issues under review that could result in significant payments, accruals or material deviations from its position.
 
Foreign Currency Translation (Loss) Gain and Comprehensive Loss
 
In countries in which the Company operates, and the functional currency is other than the U.S. dollar, assets and liabilities are translated using published exchange rates in effect at the consolidated balance sheet date.  Equity accounts are translated at historical rates except for the changes in accumulated deficit during the year as the result of the income statement translation process. Revenues and expenses and cash flows are translated using a weighted average exchange rate for the period.  Resulting translation adjustments are recorded as a component of accumulated other comprehensive loss on the accompanying consolidated balance sheets.  For the years ended December 31, 2018 and 2017, other comprehensive loss includes (losses) gains of $(257,000) and $271,000, respectively, which were entirely from foreign currency translation.
 
Net Loss Per Common Share
 
Basic loss per common share is based on the weighted average number of common shares outstanding without consideration of potential common stock. Diluted earnings per common share is based on the weighted average number of common and potential dilutive common shares outstanding.
  
 
F-18
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
The following table represents common stock equivalents that were excluded from the computation of diluted earnings per share for the years ended December 31, 2018 and 2017, because the effect of their inclusion would be anti-dilutive.
 
 
 
(in thousands)
 
 
 
Year ended December 31,
 
 
 
2018
 
 
2017
 
 
 
 
 
 
 
 
Restricted common stock grants
  2,388 
  4,204 
 
Reclassifications
 
Certain reclassifications have been made to prior year amounts to conform with the current year presentation.
 
Recently Issued Accounting Pronouncements
 
The Company continually assesses any new accounting pronouncements to determine their applicability to the Company. Where it is determined that a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes a study to determine the consequence of the change to its financial statements and assures that there are proper controls in place to ascertain that the Company’s consolidated financial statements properly reflect the change. New pronouncements assessed by the Company recently are discussed below:
 
Leases
 
In February 2016, The FASB issued ASU 2016-02 (Topic 842), “Leases”. ASU 2016-02 requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors are required to recognize and measure leases at either the effective date (the “effective date method”) or the beginning of the earliest period presented (the “comparative method”) using a modified retrospective approach. Under the effective date method, the Company’s comparative period reporting is unchanged. In contrast, under the comparative method, the Company’s date of initial application is the beginning of the earliest comparative period presented, and the Topic 842 transition guidance is then applied to all comparative periods presented. Further, under either transition method, the standard includes certain practical expedients intended to ease the burden of adoption. The Company adopted this new standard January 1, 2019 using the effective date method and elected certain practical expedients allowing the Company not to reassess:
 
whether expired or existing contracts contain leases under the new definition of a lease;
lease classification for expired or existing leases; and
whether previously capitalized initial direct costs would qualify for capitalization under Topic 842.
 
The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less. The Company estimates the adoption of this standard on January 1, 2019 will result in the addition to our consolidated balance sheet of approximately $1.1 million in right-of-use assets and lease liabilities. The standard is not expected to have a material effect on the Company’s consolidated statements of cash flows or operations.
 
 
F-19
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
Goodwill
 
In January 2017, the FASB issued ASU 2017-04, which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. The standard is effective for fiscal periods beginning after December 15, 2019. Early adoption is permitted for interim and annual goodwill impairment testing dates after January 1, 2017. The Company early adopted this standard in December 2018. The adoption did not have a material effect on the Company’s Consolidated Financial Statements.
 
NOTE C – SEGMENT REPORTING
 
The Company views its business in three segments – the IT segment, the professional sales service segment, and the equipment segment. The IT segment includes the operations of NetWolves and VasoHealthcare IT Corp. The professional sales service segment operates through the Vaso Diagnostics subsidiary and is currently engaged solely in the fulfillment of the Company’s responsibilities under our agreement with GEHC. The equipment segment is engaged in designing, manufacturing, marketing and supporting EECP® enhanced external counterpulsation systems both domestically and internationally, as well as the development, production, marketing and supporting of other medical devices.
 
 
F-20
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
The chief operating decision maker is the Company’s Chief Executive Officer, who, in conjunction with upper management, evaluates segment performance based on operating income and Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization – defined as net (loss) income, plus net interest expense (income), tax expense, depreciation and amortization, and non-cash expenses for share-based compensation). Administrative functions such as finance and human resources are centralized and related expenses allocated to each segment. Other costs not directly attributable to operating segments, such as audit, legal, director fees, investor relations, and others, as well as certain assets – primarily cash balances – are reported in the Corporate entity below. There are no intersegment revenues. Summary financial information for the segments is set forth below:
 
 
 
(in thousands)
 
 
 
Year ended December 31,
 
 
 
2018
 
 
2017
 
 
 
 
 
 
 
 
Revenues from external customers
 
 
 
 
 
 
IT
 $44,228 
 $42,581 
Professional sales service
  25,511 
  26,443 
Equipment
  4,241 
  3,764 
Total revenues
 $73,980 
 $72,788 
 
    
    
Gross Profit
    
    
IT
 $18,379 
 $17,623 
Professional sales service
  20,165 
  20,630 
Equipment
  2,580 
  2,478 
Total gross profit
 $41,124 
 $40,731 
 
    
    
Operating (loss) income
    
    
IT
 $(3,748)
 $(3,375)
Professional sales service
  1,958 
  1,954 
Equipment
  (812)
  (1,066)
Corporate
  (1,122)
  (1,345)
Total operating loss
 $(3,724)
 $(3,832)
 
    
    
Depreciation and amortization
    
    
IT
 $1,968 
 $1,822 
Professional sales service
  187 
  194 
Equipment
  367 
  410 
Corporate
  - 
  - 
Total depreciation and amortization
 $2,522 
 $2,426 
 
    
    
Capital expenditures
    
    
IT
 $2,496 
 $2,185 
Professional sales service
  4 
  127 
Equipment
  82 
  43 
Corporate
  4 
  19 
Total cash capital expenditures
 $2,586 
 $2,374 
 
 
F-21
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
 
 
December 31,
2018
 
 
December 31,
2017
 
 
 
 
 
 
 
 
Identifiable Assets
 
 
 
 
 
 
IT
 $28,785 
 $28,320 
Professional sales service
  12,193 
  15,658 
Equipment
  6,992 
  7,830 
Corporate
  2,504 
  4,970 
Total assets
 $50,474 
 $56,778 
 
For the years ended December 31, 2018 and 2017, GEHC accounted for 34% and 36% of revenue, respectively. Also, GEHC accounted for $7.2 million, or 66%, and $8.9 million, or 67%, of accounts and other receivables at December 31, 2018 and 2017, respectively.
 
Our revenues were derived from the following geographic areas:
 
 
 
(in thousands)
 
 
 
Year ended December 31,
 
 
 
2018
 
 
2017
 
Domestic (United States)
 $71,279 
 $70,719 
Non-domestic (foreign)
  2,701 
  2,069 
 
 $73,980 
 $72,788 
 
NOTE D – ACCOUNTS AND OTHER RECEIVABLES
 
The following table presents information regarding the Company’s accounts and other receivables as of December 31, 2018 and 2017:
 
 
 
(in thousands)
 
 
 
December 31, 2018
 
 
December 31, 2017
 
 
 
 
 
 
 
 
Trade receivables
 $15,016 
 $18,056 
Due from employees
  6 
  41 
Allowance for doubtful accounts and
    
    
commission adjustments
  (3,994)
  (4,872)
Accounts and other receivables, net
 $11,028 
 $13,225 
 
Trade receivables include amounts due for shipped products and services rendered. Amounts currently due under the GEHC Agreement are subject to adjustment in subsequent periods should the underlying sales order amount, upon which the receivable is based, change.
 
Allowance for doubtful accounts and commission adjustments include estimated losses resulting from the inability of our customers to make required payments, and adjustments arising from estimated future changes in sales order amounts that may reduce the amount the Company will ultimately receive under the GEHC Agreement. Due from employees primarily reflects commission advances made to sales personnel.
 
 
F-22
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
NOTE E – INVENTORIES, NET
 
Inventories, net of reserves, consisted of the following:
 
 
 
(in thousands)
 
 
 
December 31, 2018
 
 
December 31, 2017
 
 
 
 
 
 
 
 
Raw materials
 $577 
 $530 
Work in process
  388 
  449 
Finished goods
  1,018 
  1,376 
 
 $1,983 
 $2,355 
 
At December 31, 2018 and 2017, the Company maintained reserves for slow moving inventories of $636,000 and $746,000, respectively.
 
NOTE F – PROPERTY AND EQUIPMENT
 
Property and equipment is summarized as follows:
 
 
 
(in thousands)
 
 
 
December 31,
2018
 
 
December 31,
2017
 
Office, laboratory and other equipment
 $3,885 
 $2,953 
Equipment furnished for customer
    
    
or clinical uses
  8,167 
  6,615 
Furniture and fixtures
  127 
  131 
 
  12,179 
  9,699 
Less: accumulated depreciation and amortization
  (6,370)
  (4,980)
   Property and equipment, net
 $5,809 
 $4,719 
 
Assets under capital lease comprised approximately $855,000 and $387,000 of the office, laboratory and other equipment asset class at December 31, 2018 and 2017, respectively, and approximately $60,000 and $0 of the equipment furnished for customer or clinical use asset class at December 31, 2018 and 2017, respectively. Accumulated amortization of assets under capital lease aggregated approximately $250,000 and $103,000 at December 31, 2018 and 2017, respectively. Depreciation expense amounted to approximately $1,489,000 and $1,290,000 for the years ended December 31, 2018 and 2017, respectively. Amortization of assets under capital lease is included in depreciation expense.
 
 
F-23
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
NOTE G – GOODWILL AND OTHER INTANGIBLES
 
Goodwill of $14,375,000 is attributable to the NetWolves reporting unit within the IT segment. The remaining $2,934,000 of goodwill is attributable to the FGE reporting unit within the Equipment segment. The NetWolves and FGE reporting units had negative net asset carrying amounts at December 31, 2018 and 2017. The changes in the carrying amount of goodwill are as follows:
 
 
 
(in thousands)
 
 
 
Year ended December 31,
 
 
 
2018
 
 
2017
 
 
 
 
 
 
 
 
Beginning of year
 $17,471 
 $17,280 
Foreign currency translation adjustment
  (162)
  191 
End of year
 $17,309 
 $17,471 
 
The Company’s other intangible assets consist of capitalized customer-related intangibles, patent and technology costs, and software costs, as set forth in the following table:
 
 
 
(in thousands)
 
 
 
December 31,
2018
 
 
December 31,
2017
 
 
 
 
 
 
 
 
Customer-related
 
 
 
 
 
 
Costs
 $5,831 
 $5,831 
Accumulated amortization
  (3,083)
  (2,501)
 
  2,748 
  3,330 
 
    
    
Patents and Technology
    
    
Costs
  2,363 
  2,331 
Accumulated amortization
  (1,532)
  (1,260)
 
  831 
  1,071 
 
    
    
Software
    
    
Costs
  2,346 
  1,819 
Accumulated amortization
  (1,185)
  (966)
 
  1,161 
  853 
 
    
    
 
 $4,740 
 $5,254 
 
 
F-24
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
The Company owns four US utility patents that expire at various times through 2023, and, through our Chinese subsidiaries, we own sixteen invention and utility patents that expire at various times through 2028, as well as fourteen software copyright certificates in China related to proprietary technologies in physiological data acquisition, analysis and reporting. The Company also holds one patent for secure and remote monitoring management through its NetWolves subsidiary. Costs incurred for submitting the applications to the United States Patent and Trademark Office and other foreign authorities for these patents have been capitalized. Patent and technology costs are being amortized using the straight-line method over 10-year and 8-year lives, respectively. The Company begins amortizing patent costs once a filing receipt is received stating the patent serial number and filing date from the Patent Office or other foreign authority. The cost of significant customer-related intangibles is amortized in proportion to estimated total related revenue; cost of other customer-related intangible assets is amortized on a straight-line basis over the asset's estimated economic life of seven years. Software costs are amortized on a straight-line basis over its expected useful life of five years.
 
Amortization expense amounted to approximately $1,033,000 and $1,136,000 for the years ended December 31, 2018 and 2017, respectively. Amortization of intangibles for the next five years is:
 

Years ending December 31,
 
(in thousands) 
 
2019
  1,017 
2020
  934 
2021
  858 
2022
  562 
2023
  328 
Total
 $3,699 
 
NOTE H – OTHER ASSETS
 
Other assets consist of the following:
 
 
 
(in thousands)
 
 
 
December 31,
2018
 
 
December 31,
2017
 
 
 
 
 
 
 
 
Deferred commission expense - noncurrent
 $1,978 
 $1,867 
Trade receivables - noncurrent
  630 
  968 
Other, net of allowance for loss on loan receivable of
    
    
  $412 at December 31, 2018 and 2017
 459
  1,012 
 
 $3,067
 $3,847 
 
 
F-25
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
NOTE I – DEFERRED REVENUE
 
The changes in the Company’s deferred revenues are as follows:
 
 
 
(in thousands)
 
 
 
Year ended December 31,
 
 
 
2018
 
 
2017
 
 
 
 
 
 
 
 
Deferred revenue at beginning of year
 $23,066 
 $19,404 
Net additions:
    
    
Deferred extended service contracts
  687 
  705 
Deferred in-service and training
  8 
  20 
Deferred service arrangements
  15 
  43 
Deferred commission revenues
  4,960 
  14,779 
Recognized as revenue:
    
    
Deferred extended service contracts
  (628)
  (661)
Deferred in-service and training
  (5)
  (20)
Deferred service arrangements
  (31)
  (45)
Deferred commission revenues
  (9,986)
  (11,159)
Deferred revenue at end of year
  18,086 
  23,066 
Less: current portion
  10,382 
  15,540 
Long-term deferred revenue at end of year
 $7,704 
 $7,526 
 
NOTE J – ACCRUED EXPENSES AND OTHER LIABILITIES
 
Accrued expenses and other liabilities consist of the following:
 
 
 
(in thousands)
 
 
 
December 31,
2018
 
 
December 31,
2017
 
 
 
 
 
 
 
 
Accrued compensation
 $648 
 $1,181 
Accrued expenses - other
  2,092 
  2,207 
Other liabilities
  2,915 
  1,949 
 
 $5,655 
 $5,337 
 
NOTE K – RELATED-PARTY TRANSACTIONS
 
In March 2018, the Company sold its interest in the VSK joint venture to PSK for a sales price of $676,000 and executed a distributorship agreement, expiring December 31, 2020, with VSK for the sale of the Company’s EECP® products in certain international markets. The sale resulted in a gain of approximately $212,000 and net cash proceeds of approximately $311,000 after satisfaction of deposits and other payables due to VSK aggregating approximately $365,000 at time of sale. Prior to the sale, the Company’s pro-rata share in VSK’s loss from operations approximated $20,000 for the year ended December 31, 2017, and $9,000 for the three months ended March 31, 2018, and is included in interest and other income, net in the accompanying consolidated statements of operations and comprehensive loss.
 
 
F-26
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
David Lieberman, a practicing attorney in the State of New York, serves as Vice Chairman of the Board of Directors.  He is currently a senior partner at the law firm of Beckman, Lieberman & Barandes, LLP, which performs certain legal services for the Company. Fees of approximately $340,000 were billed by the firm for each of the years ended December 31, 2018 and 2017, at which dates $28,000 and $0 were outstanding, respectively.
 
On August 6, 2014 the Company acquired all of the outstanding shares of Genwell Instruments Co. Ltd. (“Genwell”), located in Wuxi, China for cash and notes of Chinese Yuan RMB13,250,000 (approximately $2,151,000 at the acquisition date). The Company issued the RMB6,250,000 note as part of the acquisition payment and, in May 2015, modified the note to change the interest rate from 5% to 9% per annum, effective August 28, 2015, and to extend the maturity date from August 26, 2015 to August 26, 2019. In July 2017 and October 2017, the Company made partial principal payments aggregating RMB2,250,000 (approximately $335,000), plus accrued interest, on notes payable to the president of LET and the president of Biox. Unsecured notes and accrued interest aggregating approximately $335,000, and $354,000 was payable to officers of Biox at December 31, 2018 and 2017, respectively.
 
In November and December 2018, the Company issued unsecured notes aggregating $500,000 to certain directors. The notes bore interest at 10% per annum and matured on March 25, 2019. Principal and interest on these notes were paid off upon maturity.
 
NOTE L – NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS
 
Notes payable and capital lease obligations consist of the following:
 
 
 
(in thousands)
 
 
 
December 31,
2018
 
 
December 31,
2017
 
 
 
 
 
 
 
 
Line of credit
 $4,171 
 $3,393 
Unsecured term loan
  145 
  153 
Note payable
  14 
  - 
Notes payable - MedTech (net of $14 and $46 in
    
    
debt issue costs at December 31, 2018 and 2017)
  4,786 
  4,754 
Notes payable - related parties
  827 
  345 
Capital lease obligations
  588 
  208 
Total debt and lease obligations
  10,531 
  8,853 
Less: current portion (including related parties)
  (9,886)
  (3,760)
 
 $645 
 $5,093 
  
 
F-27
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
Line of Credit
 
In November 2018, NetWolves' lending institution extended its $4.0 million line of credit. Advances under the line, which expires on June 28, 2019, bear interest at a rate of LIBOR plus 3% (aggregating 5.52% at December 31, 2018 and 3.82% at December 31, 2017, based on the rate of LIBOR plus 2.25% in effect at such date) and are secured by substantially all of the assets of NetWolves Network Services, LLC and guaranteed by Vaso Corporation. At December 31, 2018, the Company had drawn approximately $2.9 million against the line.
 
In November 2018, the Company’s lending institution extended its $2.0 million line of credit agreement with the same institution. Advances under the line, which expires on June 28, 2019, bear interest at a rate of LIBOR plus 3% (aggregating 5.52% at December 31, 2018) and are secured by substantially all of the assets of the Company. At December 31, 2018, the Company had drawn approximately $1.25 million against the line. The line of credit agreement includes certain financial covenants. At December 31, 2018 and 2017, the Company was not in compliance with both such covenants, and the lending institution waived the covenants through June 28, 2019.
 
Unsecured Term Loan
 
In December 2018, Biox extended its one-year unsecured term loan of RMB1,000,000 (approximately $145,000) with a Chinese bank for an additional year maturing on December 6, 2019. The loan bears interest at 4.79% per year.
 
Notes Payable
 
The Company financed certain FGE equipment purchases through an interest-free note payable to a Chinese bank. The note, which is secured by the financed equipment, is payable in 18 monthly installments ending in December 2019.
 
On May 29, 2015, the Company entered into a Note Purchase Agreement with MedTechnology Investments, LLC (“MedTech”) pursuant to which it issued MedTech a secured subordinated promissory note (“Note”) for $3,800,000 for the purchase of NetWolves. MedTech was formed to acquire the Note, and $1,950,000 of the aggregate funds used to acquire the Note was provided by six of our directors. In June 2015, a second Note for $750,000 was issued to MedTech for working capital purposes, of which $250,000 was provided by a director and a director’s relative. In July 2015, an additional $250,000 was borrowed under the Note Purchase Agreement. The Notes bear interest at an annual rate of 9%, mature on May 29, 2019, may be prepaid without penalty, and are subordinated to any current or future Senior Debt as defined in the Subordinated Security Agreement. The Subordinated Security Agreement secures payment and performance of the Company’s obligations under the Notes and as a result, MedTech was granted a subordinated security interest in the Company’s assets.
 
 
F-28
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
Capital lease obligations
 
In July 2016, the Company entered into two three-year lease agreements for network equipment installed at its Florida data center.  In September 2018, the Company entered into a capital lease, payable quarterly over a 60-month term, for primarily the acquisition of network components in its Florida data center. The fair market value and capital lease liability of the leased equipment at inception was approximately $399,000, of which approximately $78,000 is recorded in current liabilities. In November 2018, the Company entered into an additional capital lease, payable monthly over a 43-month term, for the acquisition of additional network components in its Florida data center. The fair market value and capital lease liability of the leased equipment at inception was approximately $130,000, of which approximately $29,000 is recorded in current liabilities. Assets under capital leases and related accumulated amortization is recorded under property and equipment in the accompanying consolidated balance sheets.  The future minimum lease payments as of December 31, 2018 are set forth in the following table:
 
Years ending December 31,
 
 
(in thousands)   
 
2019
  231 
2020
  146 
2021
  146 
2022
  120 
2023
  47 
 
  690 
Portion representing interest
  (85)
Portion representing executory costs
  (17)
Total capital lease obligations
 $588 
 
Total amounts payable by the Company under its various notes payable and capital lease obligations outstanding as of December 31, 2018 are: 
 
 
 
 
 
 
 
 
 
(in thousands)  
 
Years ending December 31,
 
Notes payable
 
 
Capital leases
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
2019
  9,712 
 $188 
 $9,900 
2020
  245 
  116 
  361 
2021
  - 
  126 
  126 
2022
  - 
  112 
  112 
2023
  - 
  46 
  46 
Total
 $9,957 
 $588 
 $10,545 
 
 
F-29
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
NOTE M – STOCKHOLDERS' EQUITY
 
Chinese subsidiaries dividends and statutory reserves
 
The payment of dividends by entities organized in China is subject to limitations. In particular, regulations in China currently permit payment of dividends only out of accumulated profits as determined in accordance with PRC accounting standards and regulations. Based on People’s Republic of China (PRC) accounting standards, our Chinese subsidiaries are also required to set aside at least 10% of after-tax profit each year to their general reserves until the accumulative amount of such reserves reaches 50% of the registered capital. As of December 31, 2018 and 2017, statutory reserves aggregating approximately $35,000 were recorded in the Company’s consolidated balance sheets. These reserves are not distributable as cash dividends. In addition, they are required to allocate a portion of their after-tax profit to their staff welfare and bonus fund at the discretion of their respective boards of directors. Moreover, if any of our PRC subsidiaries incurs debt on its own behalf in the future, the instruments governing the debt may restrict its ability to pay dividends or make other distributions to us. Distribution of dividends from the Chinese operating companies to foreign shareholders is subject to a 10% withholding tax.
 
NOTE N - OPTION PLANS
 
2010 Stock Option and Stock Issuance Plan
 
On June 17, 2010 the Board of Directors approved the 2010 Stock Plan (the “2010 Plan”) for officers, directors, employees and consultants of the Company. The stock issuable under the 2010 Plan shall be shares of the Company’s authorized but unissued or reacquired common stock. The maximum number of shares of common stock which may be issued under the 2010 Plan is 5,000,000 shares.
 
The 2010 Plan is comprised of two separate equity programs, the Options Grant Program, under which eligible persons may be granted options to purchase shares of common stock, and the Stock Issuance Program, under which eligible persons may be issued shares of common stock directly, either through the immediate purchase of such shares or as a bonus for services rendered to the Company.
 
The 2010 Plan provides that the Board of Directors, or a committee of the Board of Directors, will administer it with full authority to determine the identity of the recipients of the options or shares and the number of options or shares. Options granted under the 2010 Plan may be either incentive stock options or non-qualified stock options. The option price shall be 100% of the fair market value of the common stock on the date of the grant (or in the case of incentive stock options granted to any individual stockholder possessing more than 10% of the total combined voting power of all voting stock of the Company, 110% of such fair market value). The term of any option may be fixed by the Board of Directors, or its authorized committee, but in no event shall it exceed five years from the date of grant. Options are exercisable upon payment in full of the exercise price, either in cash or in common stock valued at fair market value on the date of exercise of the option.
 
No shares or options were granted under the 2010 Plan during the year ended December 31, 2018.
 
 
F-30
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
2013 Stock Option and Stock Issuance Plan
 
On October 30, 2013, the Board of Directors approved the 2013 Stock Plan (the “2013 Plan”) for officers, directors, employees and consultants of the Company. The stock issuable under the 2013 Plan shall be shares of the Company’s authorized but unissued or reacquired common stock. The maximum number of shares of common stock which may be issued under the 2013 Plan is 7,500,000 shares.
 
The 2013 Plan is comprised of two separate equity programs, the Options Grant Program, under which eligible persons may be granted options to purchase shares of common stock, and the Stock Issuance Program, under which eligible persons may be issued shares of common stock directly, either through the immediate purchase of such shares or as a bonus for services rendered to the Company. The 2013 Plan provides that the Board of Directors, or a committee of the Board of Directors, will administer it with full authority to determine the identity of the recipients of the options or shares and the number of options or shares.
 
During the year ended December 31, 2018, 475,000 shares of common stock were granted under the 2013 Plan, 320,416 shares were forfeited, and 70,725 shares were withheld for withholding taxes.
 
No options were granted under the 2013 Plan during the year ended December 31, 2018.
 
2016 Stock Option and Stock Issuance Plan
 
On June 15, 2016, the Board of Directors ("Board") approved the 2016 Stock Plan (the "2016 Plan") for officers, directors, and senior employees of the Corporation or any subsidiary of the Corporation.  The stock issuable under the 2016 Plan shall be shares of the Company's authorized but unissued or reacquired common stock.  The maximum number of shares of common stock that may be issued under the 2016 Plan is 7,500,000 shares.
 
The 2016 Plan consists of a Stock Issuance Program, under which eligible persons may, at the discretion of the Board, be issued shares of common stock directly, as a bonus for services rendered or to be rendered to the Corporation or any subsidiary of the Corporation.
 
In March 2018, 725,000 restricted shares of common stock under the 2016 Plan were granted to officers. The shares vested in April 2018. In June 2018, the Company granted 500,000 shares of restricted common stock to employees, vesting over a three-year period.
 
No options were granted under the 2016 Plan during the year ended December 31, 2018.
 
 
F-31
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
The following table summarizes non-vested restricted shares for the year ended December 31, 2018:
 
 
 
Shares Available for Future Issuance
 
 
Unvested shares
 
 
Weighted Average Grant Date Fair Value
 
Balance at December 31, 2016
  4,031,946 
  6,763,125 
 $0.16 
Authorized
  - 
  - 
 $- 
Granted
  (975,000)
  975,000 
 $0.12 
Vested
  - 
  (3,380,437)
 $0.15 
Forfeited
  153,730 
  (153,730)
 $0.16 
Balance at December 31, 2017
  3,210,676 
  4,203,958 
 $0.16 
Authorized
  - 
  - 
 $- 
Granted
  (1,700,000)
  1,700,000 
 $0.06 
Vested
  - 
  (3,125,317)
 $0.14 
Forfeited
  391,141 
  (391,141)
 $0.16 
Balance at December 31, 2018
  1,901,817 
  2,387,500 
 $0.12
 
 
There were 68,543,396 remaining authorized shares of common stock after reserves for all stock option plans.
 
NOTE O - INCOME TAXES
 
The Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The Tax Act reduces the maximum U.S. federal corporate tax rate from 35% to 21%, allows net operating losses incurred in 2018 and beyond to be carried forward indefinitely, allows alternative minimum tax carryforwards to be partially refunded, beginning in 2018, and fully refunded by 2021, and creates new taxes on certain foreign sourced earnings.
 
The following is a geographical breakdown of loss before the provision for income taxes:
 
 
 
(in thousands)
 
 
 
Year ended December 31,
 
 
 
2018
 
 
2017
 
Domestic
 $(3,967)
 $(4,161)
Foreign
  (152)
  (244)
Loss before provision for income taxes
 $(4,119)
 $(4,405)
 
 
F-32
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
The provision for income taxes consisted of the following:
 
 
 
(in thousands)
 
 
 
Year ended December 31,
 
 
 
2018
 
 
2017
 
Current provision (benefit)
 
 
 
 
 
 
Federal
 $- 
 $(154)
State
  63 
  59 
Foreign
  35 
  13 
Total current provision (benefit)
  98 
  (82)
 
    
    
Deferred provision (benefit)
    
    
Federal
  (376)
  168 
State
  (107)
  48 
Foreign
  - 
  - 
Total deferred provision (benefit)
  (483)
  216 
 
    
    
Total income tax provision (benefit)
 $(385)
 $134 
 
    
    
Effective income tax rate
  9.35%
  -3.04%
 
Income tax benefit for the year ended December 31, 2018 was $385,000 due primarily to $483,000 in tax benefit related to deferred tax liabilities arising from goodwill generated by the NetWolves acquisition and $63,000 in state income taxes.
 
The following is a reconciliation of the effective income tax rate to the federal statutory rate:
 
 
 
For the year ended
 
 
 
December 31, 2018
 
 
December 31, 2017
 
 
 
%
 
 
%
 
Federal statutory rate
  21.00 
  34.00 
State income taxes
  (0.87)
  (1.34)
Change in valuation allowance
    
    
  relating to operations
  (7.75)
  (42.38)
Impact of federal statutory rate change
  - 
  (6.44)
Impact of federal statutory rate change on
    
    
  valuation allowance
  - 
  13.74 
Foreign tax rate differential
  - 
  (2.20)
R&D credit
  (0.22)
  - 
Nondeductible expenses
  (3.09)
  (1.93)
Minimum tax credit refundable
  - 
  3.51 
Other
  0.28 
  - 
 
  9.35 
  (3.04)
 
 
F-33
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
The effective tax rate increased mainly due to the change from tax expense in 2017 to tax benefit in 2018.
 
As of December 31, 2018, the recorded deferred tax assets were $14,983,000, reflecting an increase of $1,868,000 during the year ended December 31, 2018, which was offset by a valuation allowance of $12,077,000, reflecting an increase of $319,000.
 
The components of our deferred tax assets and liabilities are summarized as follows:
 
 
 
(in thousands)
 
 
 
December 31,
2018
 
 
December 31,
2017
 
Deferred Tax Assets:
 
 
 
 
 
 
Net operating loss carryforwards
 $12,402 
 $10,623 
Amortization
  304 
  262 
Stock-based compensation
  16 
  49 
Allowance for doubtful accounts
  88 
  36 
Reserve for obsolete inventory
  239 
  235 
Tax credits
  429 
  438 
Expense accruals
  392 
  579 
Excess interest carryforwards
  171 
  - 
Deferred revenue
  942 
  893 
Total gross deferred taxes
  14,983 
  13,115 
Valuation allowance
  (12,077)
  (11,758)
Net deferred tax assets
  2,906 
  1,357 
 
    
    
Deferred Tax Liabilities:
    
    
Deferred commissions
  (245)
  (224)
Goodwill
  (927)
  (668)
Differences in timing of revenue recognition
  (124)
  (112)
Depreciation
  (1,360)
  (573)
Total deferred tax liabilities
  (2,656)
  (1,577)
 
    
    
Total deferred tax assets (liabilities)
  250 
  (220)
 
    
    
 
    
    
Recorded as:
    
    
Non-current deferred tax assets
  374 
  - 
Non-current deferred tax liabilities
  (124)
  (220)
Total deferred tax assets (liabilities)
 $250 
 $(220)
 
 
F-34
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
The activity in the valuation allowance is set forth below:
 
 
 
(in thousands)
 
 
 
2018
 
 
2017
 
Valuation allowance, January 1,
 $11,758 
 $15,695 
Change in valuation allowance
  319 
  (3,937)
Valuation allowance, December 31,
 $12,077 
 $11,758 
 
At December 31, 2018, the Company had net operating loss carryforwards for federal and state income tax purposes of approximately $39 million expiring at various dates from 2020 through 2037 and approximately $7 million with no expiration date.
 
Under current tax law, the utilization of tax attributes will be restricted if an ownership change, as defined, were to occur. Section 382 of the Internal Revenue Code provides, in general, that if an “ownership change” occurs with respect to a corporation with net operating and other loss carryforwards, such carryforwards will be available to offset taxable income in each taxable year after the ownership change only up to the “Section 382 Limitation” for each year (generally, the product of the fair market value of the corporation’s stock at the time of the ownership change, with certain adjustments, and a specified long-term tax-exempt bond rate at such time). The Company’s ability to use its loss carryforwards will be limited in the event of an ownership change.
 
NOTE P - COMMITMENTS AND CONTINGENCIES
 
Sales representation agreement
 
In December 2017, the Company concluded an amendment of the GEHC Agreement with GEHC, originally signed on May 19, 2010. The amendment extends the term of the original agreement, which began on July 1, 2010 and was previously extended in 2012 and 2015, through December 31, 2022, subject to early termination under certain circumstances, making it the longest extension thus far with a remaining term of five years from December 31, 2017. Under the agreement, VasoHealthcare is the exclusive representative for the sale of select GE Healthcare diagnostic imaging products to specific market segments/accounts in the 48 contiguous states of the United States and the District of Columbia. The circumstances under which early termination of the agreement may occur include: not materially achieving certain sales goals, not maintaining a minimum number of sales representatives, and not meeting various legal and GEHC policy requirements. The Company did not meet the contractual sales goals in 2018. Under the terms of the agreement, the Company is required to lease dedicated computer equipment from GEHC for connectivity to their network and share certain GEHC sales costs.
 
 
F-35
 
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
Facility Leases
 
The Company leases a facility in Plainview, New York, under a seven-year agreement expiring in September 2022. The Company also leases offices in New York City under a three-year agreement expiring May 2020. NetWolves houses its operations in leased facilities in Tampa, Florida, under an agreement expiring in May 2020. VHC-IT leases a facility in Nashville, Tennessee pursuant to a one-year lease expiring April 2019. The Company is evaluating possible renewal options and believes sufficient space is available at similar cost in Nashville. FGE leases facilities in Wuxi, China, pursuant to leases expiring in September 2019, August 2020, September 2020, and December 2020. Such leases are renewable upon expiration.
 
Vehicle Lease Agreement
 
The Company provides leased vehicles to the sales team of its professional sales service segment under a closed-end master lease agreement. Vehicles obtained under the terms of the agreement are leased generally for a 36-month term, and payments are fixed for each year of the agreement, subject to readjustment at the beginning of the second and third year.
 
Future rental payments under these operating leases aggregate approximately as follows:
 
For the years ending December 31,                

(in thousands)
 
 
Vehicles
 
 
Facilities
 
 
Total
 
2019
 $289 
 $380 
 $669 
2020
  195 
  230 
  425 
2021
  53 
  76 
  129 
2022
  - 
  55 
  55 
Total
 $537 
 $741
 $1,278
 
Rental expense for all operating leases totaled approximately $816,000 and $770,000 for the years ended December 31, 2018 and 2017, respectively.
 
Employment Agreements
 
On March 21, 2011, the Company entered into an Employment Agreement with its President and Chief Executive Officer, Dr. Jun Ma, for a three-year term ended on March 14, 2014. The agreement was amended in 2013 and again in 2015 to provide for a continuing three-year term, unless earlier terminated by the Company, but in no event can extend beyond March 14, 2021. The Employment Agreement currently provides for annual compensation of $375,000. Dr. Ma shall be eligible to receive a bonus for each fiscal year thereafter during the employment term. The amount and the occasion for payment of such bonus, if any, shall be at the discretion of the Board of Directors. Dr. Ma shall also be eligible for an award under any long-term incentive compensation plan and grants of options and awards of shares of the Company’s stock, as determined at the Board of Directors’ discretion. The Employment Agreement further provides for reimbursement of certain expenses, and certain severance benefits in the event of termination prior to the expiration date of the Employment Agreement.
 
F-36
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
On June 1, 2015, the Company entered into an Employment Agreement with Mr. Peter Castle to be its Chief Operating Officer. The agreement provides for a three-year term ending on June 1, 2018 and shall extend for additional one-year periods annually commencing June 1, 2018, unless earlier terminated by the Company, but in no event can extend beyond June 1, 2021. The Employment Agreement currently provides for annual compensation of $350,000. Mr. Castle shall be eligible to receive a bonus for each fiscal year thereafter during the employment term. The amount and the occasion for payment of such bonus, if any, shall be at the discretion of the Board of Directors. Mr. Castle shall also be eligible for an award under any long-term incentive compensation plan and grants of options and awards of shares of the Company’s stock, as determined at the Board of Directors’ discretion. The Employment Agreement further provides for reimbursement of certain expenses, and certain severance benefits in the event of termination prior to the expiration date of the Employment Agreement.
 
Licensing and Support Service Agreement
 
In 2010, NetWolves executed a licensing and support service agreement for the upgrade of its billing system. The agreement initially was set to expire in December 2014; however, it was extended for a period of two years in June 2013 with an automatic one-year renewal thereafter. In December 2017, the agreement was renewed for an additional three years, expiring December 2020. The agreement provides for monthly recurring charges based on a percentage of billed revenues using these services, which charges aggregated approximately $331,000 and $400,000 for the years ended December 31, 2018 and 2017, respectively.
 
Letters of Credit
 
At December 31, 2018 we are contingently liable under two standby letters of credit approximating $270,500 in total. The letters of credit are being maintained as security for payments to two vendors.
 
Litigation
 
The Company is currently, and has been in the past, a party to various routine legal proceedings, primarily employee related matters, incident to the ordinary course of business. The Company believes that the outcome of all such pending legal proceedings in the aggregate is unlikely to have a material adverse effect on the business or consolidated financial condition of the Company.
 
Foreign operations
 
During the years ended December 31, 2018 and 2017, the Company had and continues to have operations in China. Operating transactions in China are denominated in the Chinese currency called RMB, which is not freely convertible into foreign currencies. Operating internationally involves additional risks relating to such things as currency exchange rates, different legal and regulatory environments, political, economic risks relating to the stability or predictability of foreign governments, differences in the manner in which different cultures do business, difficulties in staffing and managing foreign operations, differences in financial reporting, operating difficulties, and other factors.
 
 
F-37
Vaso Corporation and Subsidiaries
 
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
For the Years Ended December 31, 2018 and 2017
 
Commercial law is still developing in China and there are limited legal precedents to follow in commercial transactions. There are many tax jurisdictions each of which may have changing tax laws. Applicable taxes include value added taxes (“VAT”), Enterprise Income Tax, and social (payroll) taxes. Regulations are often unclear. Tax declarations (reports) are subject to review and taxing authorities may impose fines, penalties and interest. These facts create risks in China.
 
NOTE Q - 401(k) PLANS
 
The Company maintains a defined contribution plan to provide retirement benefits for its employees - the Vaso Corporation 401(k) Plan adopted in April 1997. As allowed under Section 401(k) of the Internal Revenue Code, the plan provides tax-deferred salary deductions for eligible employees. Employees are eligible to participate in the next quarter enrollment period after employment and participants may make voluntary contributions to the plan up to 80% of their compensation. In the years ended December 31, 2018 and 2017 the Company made discretionary contributions of approximately $96,000 and $116,000, respectively, to match a percentage of employee contributions.
 
NOTE R – SUBSEQUENT EVENTS
 
In accordance with the original acquisition agreement of Gentone by FGE, in March 2019 the Company’s subsidiary Gentone exercised its option to acquire all of the shares of Biox.
 
Subsequent to December 31, 2018, the Company issued notes aggregating $750,000 to certain directors, employees, and a shareholder.   The notes mature at various periods through April 3, 2020 and bear interest at 10% per annum payable quarterly.
 
 
F-38
EX-31.1 2 vaso_ex311.htm CERTIFICATION PURSUANT TO RULE 13A-14(A)/15D-14(A) CERTIFICATIONS SECTION 302 OF THE SARBANES-OXLY ACT OF 2002 Blueprint
 
EXHIBIT 31.1
 
CERTIFICATION PURSUANT TO RULE 13a/15d OF THE SECURITIES EXCHANGE ACT OF 1934,
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
 
I, Jun Ma, certify that:
 
1.
I have reviewed this report on Form 10-K of Vaso Corporation and subsidiaries (the “registrant”);
 
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
 
4.
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
 
a.
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
b.
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
c.
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
d.
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
 
5.
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s Board of Directors (or persons performing the equivalent functions):
 
a.
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
 
b.
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 
/s/ Jun Ma .
Jun Ma
President and Chief Executive Officer
Dated: April 15, 2019
 
EX-31.2 3 vaso_ex312.htm CERTIFICATION PURSUANT TO RULE 13A-14(A)/15D-14(A) CERTIFICATIONS SECTION 302 OF THE SARBANES-OXLY ACT OF 2002 Blueprint
 
EXHIBIT 31.2
 
CERTIFICATION PURSUANT TO RULE 13a/15d OF THE SECURITIES EXCHANGE ACT OF 1934,
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
 
I, Michael Beecher, certify that:
 
1.
I have reviewed this report on Form 10-K of Vaso Corporation and subsidiaries (the “registrant”);
 
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
 
4.
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
 
a.
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
b.
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
c.
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
d.
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
 
5.
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s Board of Directors (or persons performing the equivalent functions):
 
a.
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and
 
b.
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
 
/s/ Michael Beecher
Michael Beecher
Chief Financial Officer
Dated: April 15, 2019
 
EX-32.1 4 vaso_ex321.htm CERTIFICATE PURSUANT TO SECTION 18 U.S.C. PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 Blueprint
 
Exhibit 32.1
 
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
 
 
I, Jun Ma, President and Chief Executive Officer of Vaso Corporation (the “Company”), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that:
 
(1)
the Annual Report on Form 10-K of the Company for the year ended December 31, 2018 (the “Report”), fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2)
the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
 
 
Dated: April 15, 2019
 
/s/ Jun Ma 
Jun Ma
President and Chief Executive Officer
 
EX-32.2 5 vaso_ex322.htm CERTIFICATE PURSUANT TO SECTION 18 U.S.C. PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 Blueprint
 
Exhibit 32.2
 
 
 
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
 
 
I, Michael Beecher, Chief Financial Officer of Vaso Corporation (the “Company”), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that:
 
(1)
the Annual Report on Form 10-K of the Company for the year ended December 31, 2018 (the “Report”), fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2)
the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
 
 
Dated: April 15, 2019
 
/s/ Michael Beecher 
Michael Beecher
Chief Financial Officer
 
GRAPHIC 6 logo.jpg IMAGE begin 644 logo.jpg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end EX-101.INS 7 vaso-20181231.xml XBRL INSTANCE DOCUMENT 0000839087 2018-01-01 2018-12-31 0000839087 2017-12-31 0000839087 2018-12-31 0000839087 2016-12-31 0000839087 2017-01-01 2017-12-31 0000839087 us-gaap:RestrictedStockMember 2018-01-01 2018-12-31 0000839087 us-gaap:RestrictedStockMember 2017-01-01 2017-12-31 0000839087 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2017-12-31 0000839087 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2018-12-31 0000839087 us-gaap:CapitalLeaseObligationsMember 2018-12-31 0000839087 us-gaap:LineOfCreditMember 2018-12-31 0000839087 us-gaap:UnsecuredDebtMember 2017-12-31 0000839087 us-gaap:CapitalLeaseObligationsMember 2017-12-31 0000839087 us-gaap:UnsecuredDebtMember 2018-12-31 0000839087 us-gaap:LineOfCreditMember 2017-12-31 0000839087 vaso:ServiceArrangementsMember 2017-01-01 2017-12-31 0000839087 vaso:CommissionRevenuesMember 2017-01-01 2017-12-31 0000839087 vaso:InServiceAndTrainingMember 2018-01-01 2018-12-31 0000839087 vaso:CommissionRevenuesMember 2018-01-01 2018-12-31 0000839087 vaso:ExtendedServiceContractsMember 2018-01-01 2018-12-31 0000839087 vaso:ServiceArrangementsMember 2018-01-01 2018-12-31 0000839087 vaso:InServiceAndTrainingMember 2017-01-01 2017-12-31 0000839087 vaso:ExtendedServiceContractsMember 2017-01-01 2017-12-31 0000839087 srt:MaximumMember 2018-01-01 2018-12-31 0000839087 us-gaap:ComputerSoftwareIntangibleAssetMember 2018-12-31 0000839087 vaso:PatentsAndTechnologyMember 2018-12-31 0000839087 us-gaap:ComputerSoftwareIntangibleAssetMember 2017-12-31 0000839087 us-gaap:CustomerRelationshipsMember 2018-12-31 0000839087 vaso:PatentsAndTechnologyMember 2017-12-31 0000839087 us-gaap:CustomerRelationshipsMember 2017-12-31 0000839087 srt:MinimumMember 2018-01-01 2018-12-31 0000839087 us-gaap:LoansPayableMember 2018-12-31 0000839087 us-gaap:RetainedEarningsMember 2017-01-01 2017-12-31 0000839087 us-gaap:CommonStockMember 2018-01-01 2018-12-31 0000839087 us-gaap:RetainedEarningsMember 2018-01-01 2018-12-31 0000839087 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-01-01 2017-12-31 0000839087 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-12-31 0000839087 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-12-31 0000839087 us-gaap:AdditionalPaidInCapitalMember 2017-01-01 2017-12-31 0000839087 us-gaap:CommonStockMember 2017-01-01 2017-12-31 0000839087 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2018-01-01 2018-12-31 0000839087 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2017-01-01 2017-12-31 0000839087 us-gaap:VehiclesMember 2018-12-31 0000839087 us-gaap:SupportEquipmentAndFacilitiesMember 2018-12-31 0000839087 vaso:EquipmentFurnishedForCustomerOrClinicalUsesMember 2018-12-31 0000839087 us-gaap:FurnitureAndFixturesMember 2018-12-31 0000839087 vaso:EquipmentFurnishedForCustomerOrClinicalUsesMember 2017-12-31 0000839087 us-gaap:MachineryAndEquipmentMember 2018-12-31 0000839087 us-gaap:FurnitureAndFixturesMember 2017-12-31 0000839087 us-gaap:MachineryAndEquipmentMember 2017-12-31 0000839087 us-gaap:RestrictedStockMember 2017-01-01 2017-12-31 0000839087 us-gaap:RestrictedStockMember 2018-01-01 2018-12-31 0000839087 us-gaap:RestrictedStockMember 2016-12-31 0000839087 us-gaap:RestrictedStockMember 2017-12-31 0000839087 us-gaap:RestrictedStockMember 2018-12-31 0000839087 country:US 2017-01-01 2017-12-31 0000839087 country:US 2018-01-01 2018-12-31 0000839087 us-gaap:NonUsMember 2018-01-01 2018-12-31 0000839087 us-gaap:NonUsMember 2017-01-01 2017-12-31 0000839087 us-gaap:CommonStockMember 2016-12-31 0000839087 us-gaap:TreasuryStockMember 2016-12-31 0000839087 us-gaap:CommonStockMember 2018-12-31 0000839087 us-gaap:CommonStockMember 2017-12-31 0000839087 us-gaap:TreasuryStockMember 2018-12-31 0000839087 us-gaap:TreasuryStockMember 2017-12-31 0000839087 us-gaap:AdditionalPaidInCapitalMember 2016-12-31 0000839087 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2016-12-31 0000839087 us-gaap:RetainedEarningsMember 2016-12-31 0000839087 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0000839087 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0000839087 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000839087 us-gaap:RetainedEarningsMember 2017-12-31 0000839087 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0000839087 us-gaap:RetainedEarningsMember 2018-12-31 0000839087 vaso:InformationTechnologySegmentMember 2018-01-01 2018-12-31 0000839087 vaso:ProfessionalSalesServiceSegmentMember 2018-01-01 2018-12-31 0000839087 vaso:EquipmentSegmentMember 2018-01-01 2018-12-31 0000839087 us-gaap:CorporateNonSegmentMember 2018-01-01 2018-12-31 0000839087 vaso:InformationTechnologySegmentMember 2017-01-01 2017-12-31 0000839087 vaso:ProfessionalSalesServiceSegmentMember 2017-01-01 2017-12-31 0000839087 vaso:EquipmentSegmentMember 2017-01-01 2017-12-31 0000839087 us-gaap:CorporateNonSegmentMember 2017-01-01 2017-12-31 0000839087 vaso:InformationTechnologySegmentMember 2018-12-31 0000839087 vaso:ProfessionalSalesServiceSegmentMember 2018-12-31 0000839087 vaso:EquipmentSegmentMember 2018-12-31 0000839087 us-gaap:CorporateNonSegmentMember 2018-12-31 0000839087 vaso:InformationTechnologySegmentMember 2017-12-31 0000839087 vaso:ProfessionalSalesServiceSegmentMember 2017-12-31 0000839087 vaso:EquipmentSegmentMember 2017-12-31 0000839087 us-gaap:CorporateNonSegmentMember 2017-12-31 0000839087 vaso:GeHealthcareMember us-gaap:SalesRevenueNetMember 2018-01-01 2018-12-31 0000839087 vaso:GeHealthcareMember us-gaap:SalesRevenueNetMember 2017-01-01 2017-12-31 0000839087 vaso:GeHealthcareMember us-gaap:AccountsReceivableMember 2018-01-01 2018-12-31 0000839087 vaso:GeHealthcareMember us-gaap:AccountsReceivableMember 2017-01-01 2017-12-31 0000839087 vaso:GeHealthcareMember us-gaap:AccountsReceivableMember 2018-12-31 0000839087 vaso:GeHealthcareMember us-gaap:AccountsReceivableMember 2017-12-31 0000839087 vaso:NotePayableDellFinancialServicesMember 2018-12-31 0000839087 vaso:NotesPayableMedTechnologyInvestmentsLLCMember 2018-12-31 0000839087 vaso:NotesPayableRelatedPartiesMember 2018-12-31 0000839087 vaso:NotePayableDellFinancialServicesMember 2017-12-31 0000839087 vaso:NotesPayableMedTechnologyInvestmentsLLCMember 2017-12-31 0000839087 vaso:NotesPayableRelatedPartiesMember 2017-12-31 0000839087 vaso:EquipmentSalesAndServicesMember 2018-01-01 2018-12-31 0000839087 vaso:ProfessionalSalesServicesMember 2018-01-01 2018-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember 2018-01-01 2018-12-31 0000839087 vaso:EquipmentSalesAndServicesMember 2017-01-01 2017-12-31 0000839087 vaso:ProfessionalSalesServicesMember 2017-01-01 2017-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember 2017-01-01 2017-12-31 0000839087 2019-04-05 0000839087 2018-06-29 0000839087 vaso:ProfessionalSalesServicesMember us-gaap:CalculatedUnderRevenueGuidanceInEffectBeforeTopic606Member 2018-01-01 2018-12-31 0000839087 vaso:ProfessionalSalesServicesMember us-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member 2018-01-01 2018-12-31 0000839087 us-gaap:CalculatedUnderRevenueGuidanceInEffectBeforeTopic606Member 2018-01-01 2018-12-31 0000839087 us-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member 2018-01-01 2018-12-31 0000839087 us-gaap:CalculatedUnderRevenueGuidanceInEffectBeforeTopic606Member 2018-12-31 0000839087 us-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member 2018-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember vaso:NetworkServicesMember 2018-01-01 2018-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember vaso:SoftwareSalesAndSupportMember 2018-01-01 2018-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember vaso:CommissionsMember 2018-01-01 2018-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember vaso:MedicalEquipmentSalesMember 2018-01-01 2018-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember vaso:MedicalEquipmentServiceMember 2018-01-01 2018-12-31 0000839087 vaso:ProfessionalSalesServicesMember vaso:NetworkServicesMember 2018-01-01 2018-12-31 0000839087 vaso:ProfessionalSalesServicesMember vaso:SoftwareSalesAndSupportMember 2018-01-01 2018-12-31 0000839087 vaso:ProfessionalSalesServicesMember vaso:CommissionsMember 2018-01-01 2018-12-31 0000839087 vaso:ProfessionalSalesServicesMember vaso:MedicalEquipmentSalesMember 2018-01-01 2018-12-31 0000839087 vaso:ProfessionalSalesServicesMember vaso:MedicalEquipmentServiceMember 2018-01-01 2018-12-31 0000839087 vaso:EquipmentSalesAndServicesMember vaso:NetworkServicesMember 2018-01-01 2018-12-31 0000839087 vaso:EquipmentSalesAndServicesMember vaso:SoftwareSalesAndSupportMember 2018-01-01 2018-12-31 0000839087 vaso:EquipmentSalesAndServicesMember vaso:CommissionsMember 2018-01-01 2018-12-31 0000839087 vaso:EquipmentSalesAndServicesMember vaso:MedicalEquipmentSalesMember 2018-01-01 2018-12-31 0000839087 vaso:EquipmentSalesAndServicesMember vaso:MedicalEquipmentServiceMember 2018-01-01 2018-12-31 0000839087 vaso:NetworkServicesMember 2018-01-01 2018-12-31 0000839087 vaso:SoftwareSalesAndSupportMember 2018-01-01 2018-12-31 0000839087 vaso:CommissionsMember 2018-01-01 2018-12-31 0000839087 vaso:MedicalEquipmentSalesMember 2018-01-01 2018-12-31 0000839087 vaso:MedicalEquipmentServiceMember 2018-01-01 2018-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember vaso:NetworkServicesMember 2017-01-01 2017-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember vaso:SoftwareSalesAndSupportMember 2017-01-01 2017-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember vaso:CommissionsMember 2017-01-01 2017-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember vaso:MedicalEquipmentSalesMember 2017-01-01 2017-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember vaso:MedicalEquipmentServiceMember 2017-01-01 2017-12-31 0000839087 vaso:ProfessionalSalesServicesMember vaso:NetworkServicesMember 2017-01-01 2017-12-31 0000839087 vaso:ProfessionalSalesServicesMember vaso:SoftwareSalesAndSupportMember 2017-01-01 2017-12-31 0000839087 vaso:ProfessionalSalesServicesMember vaso:CommissionsMember 2017-01-01 2017-12-31 0000839087 vaso:ProfessionalSalesServicesMember vaso:MedicalEquipmentSalesMember 2017-01-01 2017-12-31 0000839087 vaso:ProfessionalSalesServicesMember vaso:MedicalEquipmentServiceMember 2017-01-01 2017-12-31 0000839087 vaso:EquipmentSalesAndServicesMember vaso:NetworkServicesMember 2017-01-01 2017-12-31 0000839087 vaso:EquipmentSalesAndServicesMember vaso:SoftwareSalesAndSupportMember 2017-01-01 2017-12-31 0000839087 vaso:EquipmentSalesAndServicesMember vaso:CommissionsMember 2017-01-01 2017-12-31 0000839087 vaso:EquipmentSalesAndServicesMember vaso:MedicalEquipmentSalesMember 2017-01-01 2017-12-31 0000839087 vaso:EquipmentSalesAndServicesMember vaso:MedicalEquipmentServiceMember 2017-01-01 2017-12-31 0000839087 vaso:NetworkServicesMember 2017-01-01 2017-12-31 0000839087 vaso:SoftwareSalesAndSupportMember 2017-01-01 2017-12-31 0000839087 vaso:CommissionsMember 2017-01-01 2017-12-31 0000839087 vaso:MedicalEquipmentSalesMember 2017-01-01 2017-12-31 0000839087 vaso:MedicalEquipmentServiceMember 2017-01-01 2017-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember us-gaap:TransferredOverTimeMember 2018-01-01 2018-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember us-gaap:TransferredAtPointInTimeMember 2018-01-01 2018-12-31 0000839087 vaso:ProfessionalSalesServicesMember us-gaap:TransferredOverTimeMember 2018-01-01 2018-12-31 0000839087 vaso:ProfessionalSalesServicesMember us-gaap:TransferredAtPointInTimeMember 2018-01-01 2018-12-31 0000839087 vaso:EquipmentSalesAndServicesMember us-gaap:TransferredOverTimeMember 2018-01-01 2018-12-31 0000839087 vaso:EquipmentSalesAndServicesMember us-gaap:TransferredAtPointInTimeMember 2018-01-01 2018-12-31 0000839087 us-gaap:TransferredOverTimeMember 2018-01-01 2018-12-31 0000839087 us-gaap:TransferredAtPointInTimeMember 2018-01-01 2018-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember us-gaap:TransferredOverTimeMember 2017-01-01 2017-12-31 0000839087 vaso:ManagedITSystemsAndServicesMember us-gaap:TransferredAtPointInTimeMember 2017-01-01 2017-12-31 0000839087 vaso:ProfessionalSalesServicesMember us-gaap:TransferredOverTimeMember 2017-01-01 2017-12-31 0000839087 vaso:ProfessionalSalesServicesMember us-gaap:TransferredAtPointInTimeMember 2017-01-01 2017-12-31 0000839087 vaso:EquipmentSalesAndServicesMember us-gaap:TransferredOverTimeMember 2017-01-01 2017-12-31 0000839087 vaso:EquipmentSalesAndServicesMember us-gaap:TransferredAtPointInTimeMember 2017-01-01 2017-12-31 0000839087 us-gaap:TransferredOverTimeMember 2017-01-01 2017-12-31 0000839087 us-gaap:TransferredAtPointInTimeMember 2017-01-01 2017-12-31 0000839087 vaso:RemainderOf2018Member 2018-12-31 0000839087 vaso:Year2019Member 2018-12-31 0000839087 vaso:Year2020Member 2018-12-31 0000839087 vaso:ThereafterMember 2018-12-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure vaso:Segment false --12-31 2018-12-31 No No Yes VASO Corp 0000839087 2018 FY 10-K Non-accelerated Filer false true false 167109200 6000000 5245000 2668000 7087000 41000 97000 25487000 19174000 993000 890000 3649000 2585000 2577000 8000 2355000 1983000 20000 20000 13225000 11028000 7200000 8900000 11028000 0 56778000 50474000 28785000 12193000 6992000 2504000 28320000 15658000 7830000 4970000 3847000 3067000 3252000 190000 5254000 4740000 1161000 831000 853000 2748000 1071000 3330000 17471000 17309000 17280000 4719000 5809000 33704000 35353000 390000 10000 86000 582000 3674000 9304000 787000 1020000 5337000 5655000 2467000 2116000 5423000 6284000 13922000 9510000 1083000 1037000 220000 124000 259000 245000 4834000 400000 56778000 50474000 9152000 5611000 12911000 174000 -2000000 178000 176000 -2000000 -2000000 62856000 -329000 -47790000 63363000 -58000 63672000 -52329000 -315000 -55924000 2000000 2000000 -58000 -315000 -52329000 -55924000 -56185000 261000 63363000 63672000 176000 178000 0 0 4872000 3994000 4980000 6370000 0.01 0.01 1000000 1000000 0 0 0 0 0.001 0.001 250000000 250000000 175741970 177417287 165433883 167109200 10308087 10308087 73980000 72788000 25511000 4241000 25511000 44228000 3764000 26443000 42581000 25511000 0 73980000 0 40254000 3974000 0 0 0 0 0 25511000 0 0 0 0 0 3151000 1090000 40254000 3974000 25511000 3151000 1090000 38882000 3699000 0 0 0 0 0 26443000 0 0 0 0 0 2660000 1104000 38882000 3699000 26443000 2660000 1104000 39340000 4888000 0 25511000 658000 3583000 39998000 33982000 37629000 4952000 0 26443000 707000 3057000 38336000 34452000 32856000 32057000 1661000 5346000 25849000 1286000 5813000 24958000 41124000 40731000 18379000 20165000 2580000 17623000 20630000 2478000 41124000 0 -3724000 -3832000 -3748000 1958000 -812000 -1122000 -3375000 1954000 -1066000 -1345000 -3845000 121000 44848000 44563000 886000 945000 43962000 43618000 44083000 -121000 -395000 -573000 212000 0 143000 101000 750000 674000 -3734000 -4539000 -4539000 -3734000 111000 -524000 -385000 134000 -4119000 -4405000 -3991000 -4268000 -257000 271000 271000 -257000 -0.02 -0.03 165420 162213 313000 514000 32000 33000 460000 271000 0 -3000 -9000 -20000 -374000 216000 2522000 2426000 -1453000 1599000 -46000 -266000 -97000 108000 -4981000 3663000 239000 67000 602000 27000 -599000 296000 864000 197000 -223000 -1036000 -98000 66000 -1174000 1732000 -329000 -87000 0 25000 -1725000 737000 -2275000 -2374000 -311000 0 2586000 2374000 2496000 4000 82000 4000 2185000 127000 43000 19000 1141000 -1052000 500000 -335000 156000 328000 21000 0 2000 5000 778000 -384000 10000 -15000 -2577000 -1842000 79000 58000 701000 639000 529000 0 <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">A summary of the significant accounting policies consistently applied in the preparation of the consolidated financial statements are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Principles of Consolidation</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The consolidated financial statements include the accounts of Vaso Corporation, its wholly-owned subsidiaries, and the variable interest entity where the Company is the primary beneficiary. Significant intercompany balances and transactions have been eliminated.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><b>Variable Interest Entity</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><u>Basic Information</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company follows the guidance of accounting for variable interest entities, which requires certain variable interest entities to be consolidated by the primary beneficiary of the entities.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Biox is a Variable Interest Entity (&#8220;VIE&#8221;). Laws and regulations of the Peoples Republic of China (&#8220;PRC&#8221;) prohibit or restrict companies with foreign ownership from certain activities and benefits including eligibility for certain government grants and certain rebates related to commercial activities. To provide the Company the expected residual returns of the VIE, the Company, through its wholly-owned subsidiary Gentone, entered into a series of contractual arrangements with Biox and its registered shareholders to enable the Company, to:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding: 0.75pt; font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">exercise effective control over the VIE;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding: 0.75pt; font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">receive substantially all of the economic benefits and residual returns, and absorb substantially all the risks of the VIE as if they were their sole shareholders; and</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding: 0.75pt; font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">have an exclusive option to purchase all of the equity interests in the VIE.</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company&#8217;s management evaluated the relationships between the Company and Biox, and the economic benefits flow of the applicable contractual arrangements. The Company concluded that it is the primary beneficiary of Biox. As a result, the results of operations, assets and liabilities of Biox have been included in the Company&#8217;s consolidated financial statements.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The significant agreements through which the Company exercises effective control over Biox are:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding: 0.75pt; font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">the Exclusive Technical Consulting Services Agreement between Biox and Gentone;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding: 0.75pt; font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">the Option Agreement on Purchase of the Equity Interest executed by and among the shareholders of Biox and Gentone;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding: 0.75pt; font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">the Equity Pledge Agreement executed by and among the shareholders of Biox and Gentone; and</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding: 0.75pt; font: 8pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">the Powers of Attorney issued by the shareholders of Biox.</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><u>Financial Information of VIE</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Liabilities recognized as a result of consolidating this VIE do not represent additional claims on the Company&#8217;s general assets. VIE assets can be used to settle obligations of the primary beneficiary. The financial information of Biox, which was included in the accompanying consolidated financial statements, is presented as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>As of December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Cash and cash equivalents</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">97</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">41</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Total assets</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,641</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,599</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Total liabilities</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,662</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,745</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Total net revenue</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">2,294</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,597</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Net income (loss)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">111</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">(524</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Use of Estimates</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;U.S. GAAP&#8221;) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions relate to estimates of collectibility of accounts receivable, the realizability of deferred tax assets, stock-based compensation, values and lives assigned to acquired intangible assets, fair value of reporting units in connection with goodwill impairment test, the adequacy of inventory reserves, variable consideration, and allocation of contract transaction price to performance obligations. Actual results could differ from those estimates.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>Revenue Recognition</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). Under the standard, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. ASU 2014-09 replaced most existing revenue recognition guidance in U.S. GAAP. The new standard introduces a five-step process to be followed in determining the amount and timing of revenue recognition. It also provides guidance on accounting for costs incurred to obtain or fulfill contracts with customers, and establishes disclosure requirements which are more extensive than those required under prior U.S. GAAP. Generally, we recognize revenue under Topic 606 for each of our performance obligations either over time (generally, the transfer of a service) or at a point in time (generally, the transfer of a good) as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 48px; padding-left: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding: 0.75pt; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">VasoTechnology</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Revenue relating to recurring managed network and voice services provided by NetWolves are recognized as provided on a monthly basis (&#8220;over time&#8221;). Non-recurring charges related to the provision of such services are recognized in the period provided (&#8220;point in time&#8221;). In the IT VAR business, software system installations are recognized upon verification of installation and expiration of an acceptance period (&#8220;point in time&#8221;). Monthly post-implementation customer support provided under such installations as well as software solutions offered under a monthly Software as a Service (&#8220;SaaS&#8221;) fee basis are recognized monthly over the contract term (&#8220;over time&#8221;).</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <table cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 48px; padding-left: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding: 0.75pt; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">VasoHealthcare</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Commission revenue is recognized when the underlying equipment has been delivered by GEHC and accepted at the customer site in accordance with the terms of the specific sales agreement (&#8220;point in time&#8221;).</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 48px; padding-left: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding: 0.75pt; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">VasoMedical</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">In the United States, we recognized revenue from the sale of our medical equipment in the period in which we deliver the product to the customer (&#8220;point in time&#8221;). Revenue from the sale of our medical equipment to international markets is recognized upon shipment of the product to a common carrier, as are supplies, accessories and spare parts delivered in both domestic and international markets (&#8220;point in time&#8221;). The Company also recognizes revenue from the maintenance of EECP&#174; systems either on a time and material as-billed basis (&#8220;point in time&#8221;) or through the sale of a service contract, where revenue is recognized ratably over the contract term (&#8220;over time&#8221;).</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><u>Impact of Adoption</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Effective January 1, 2018, the Company adopted the requirements of Topic 606 using the modified retrospective method, which provided that the cumulative effect from prior periods upon applying the new guidance was recognized in our consolidated balance sheets as of the date of adoption, including an adjustment to retained earnings, and that prior periods are not retrospectively adjusted. The Company elected to apply the modified retrospective method only to contracts that were not completed at January 1, 2018. A summary and discussion of such cumulative effect adjustment and the impact on current period financial statements of adopting Topic 606 is as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="10" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>&#160;(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="10" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>prior U.S. GAAP</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Topic 606 impact</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>as reported</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">STATEMENT OF OPERATIONS</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Revenues</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 62%; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales services</font></td> <td style="width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="width: 3%; padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total revenues</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross Profit</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">41,124</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">41,124</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Operating expenses</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Selling, general and administrative</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">44,083</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(121</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">43,962</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.5in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Operating loss</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,845</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">121</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,724</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="10" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>&#160;(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="10" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>As of December 31, 2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>prior U.S. GAAP</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Topic 606 impact</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>as reported</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">ASSETS</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 62%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accounts and other receivables, net</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">11,028</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">11,028</font></td> <td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred commission expense</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,577</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,585</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other assets, net</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,252</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">190</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,442</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">LIABILITIES AND STOCKHOLDERS' EQUITY</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred revenue - current portion</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">10,382</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">10,382</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred revenue - long term</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7,704</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7,704</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accumulated deficit</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(56,185</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">261</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(55,924</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><u>Disaggregation of Revenue</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The following tables present revenues disaggregated by our business operations and timing of revenue recognition:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="14" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="14" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Professional sales</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equipment</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Professional sales</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equipment</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>IT segment</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>service segment</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>segment</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>IT segment</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>service segment</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>segment</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Network services</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">40,254</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">40,254</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">38,882</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">38,882</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Software sales and support</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,974</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,974</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,699</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,699</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Commissions</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 14%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Medical equipment sales</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,151</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,151</font></td> <td style="width: 4%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,660</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,660</font></td> <td style="width: 4%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Medical equipment service</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,090</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,090</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,104</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,104</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">44,228</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,241</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">42,581</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,764</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">72,788</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="14" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="14" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Professional sales</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equipment</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Professional sales</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equipment</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>IT segment</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>service segment</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>segment</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>IT segment</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>service segment</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>segment</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 14%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Revenue recognized over time</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">39,340</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">658</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">39,998</font></td> <td style="width: 4%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">37,629</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">707</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">38,336</font></td> <td style="width: 4%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Revenue recognized at a point in time</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,888</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,583</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">33,982</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,952</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,057</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">34,452</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">44,228</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,241</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">42,581</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,764</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">72,788</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><u>Transaction Price Allocated to Remaining Performance Obligations</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">As of December 31, 2018, the aggregate amount of transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) for executed contracts approximates $82.2 million, of which we expect to recognize revenue as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="14" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fiscal years of revenue recognition</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2019</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2020</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2021</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Thereafter</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 49%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Unfulfilled performance obligations</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">41,271</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">26,087</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8,595</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6,278</font></td> <td style="width: 4%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><u>Contract Liabilities</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Contract liabilities arise in our IT VAR, VasoHealthcare, and VasoMedical businesses. In our IT VAR business, payment arrangements with clients typically include an initial payment due upon contract signing and milestone-based payments based upon product delivery and go-live, as well as post go-live monthly payments for subscription and support fees. Customer payments received, or receivables recorded, in advance of go-live and customer acceptance, where applicable, are deferred as contract liabilities. Such amounts aggregated approximately $344,000 and $371,000 at December 31, 2018 and 2017, respectively, and are included in accrued expenses and other liabilities in our consolidated balance sheets.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In our VasoHealthcare business, we bill amounts for booked orders in advance of customer acceptance of the equipment. Such amounts aggregated approximately $17,098,000 and $22,126,000 at December 31, 2018 and 2017, respectively, and are classified in our consolidated balance sheets into current or long-term deferred revenue. In addition, we record a contract liability for amounts expected to be credited back to GEHC due to customer order reductions. Such amounts aggregated approximately $2,315,000 and $1,143,000 at December 31, 2018 and 2017, respectively, and are included in accrued expenses and other liabilities in our consolidated balance sheets.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In our VasoMedical business, we bill amounts for post-delivery services and varying duration service contracts in advance of performance. Such amounts aggregated approximately $988,000 and $941,000 at December 31, 2018 and 2017, respectively, and are classified in our consolidated balance sheets as either current or long-term deferred revenue.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">During the year ended December 31, 2018, we recognized approximately $7.3 million of revenues that were included in our contract liability balance at the beginning of such period.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><u>Costs to Obtain or Fulfill a Contract</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Topic 606 requires that incremental costs of obtaining a contract are recognized as an asset and amortized to expense in a pattern that matches the timing of the revenue recognition of the related contract. We have determined the only significant incremental costs incurred to obtain contracts with customers within the scope of Topic 606 are certain sales commissions paid to associates. In addition, the Company elected the practical expedient to recognize the incremental costs of obtaining a contract when incurred for contracts where the amortization period for the asset the Company would otherwise have recognized is one year or less.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Under prior U.S. GAAP, we recognized sales commissions in our equipment segment as incurred. Under Topic 606, sales commissions applicable to service contracts exceeding one year have been capitalized and amortized ratably over the term of the contract. In our IT VAR business, all commissions paid in advance of go-live were, under prior U.S. GAAP, capitalized as deferred commission expense and charged to expense at go-live or customer acceptance, as applicable. Under Topic 606, IT VAR commissions allocable to multi-year subscription contracts or multi-year post-contract support performance obligations are amortized to expense ratably over the terms of the multi-year periods. IT VAR commissions allocable to other elements continue to be charged to expense at go-live or customer acceptance, as was previously done. At the date of adoption of Topic 606, we recorded an asset, and related adjustment to retained earnings, of approximately $139,000 in our consolidated balance sheets for the amount of unamortized sales commissions for prior periods, as calculated under the new guidance. The impact to our financial statements of adopting Topic 606, as it relates to costs to obtain contracts, was a reduction in commission expense of approximately $121,000 for the year ended December 31, 2018, an increase in deferred commission expense of approximately $8,000, and an increase in long term deferred commission expense (recorded in other assets) of approximately $190,000 (inclusive of the beginning balance adjustment of $139,000).</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In our professional sales services segment, under both prior U.S. GAAP and Topic 606, commissions paid to our sales force are deferred until the underlying equipment is accepted by the customer.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">At December 31, 2018, our consolidated balance sheet includes approximately $4,562,000 in capitalized sales commissions to be expensed in future periods, of which $2,585,000 is recorded in deferred commission expense and $1,977,000, representing the long-term portion, is included in other assets.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><u>Significant Judgments when Applying Topic 606</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Contract transaction price is allocated to performance obligations using estimated stand-alone selling price. Judgment is required in estimating stand-alone selling price for each distinct performance obligation. We determine stand-alone selling price maximizing observable inputs such as stand-alone sales when they exist or substantive renewal price charged to clients. In instances where stand-alone selling price is not observable, we utilize an estimate of stand-alone selling price based on historical pricing and industry practices.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Certain revenue we record in our professional sales service segment contains an estimate for variable consideration. Due to the tiered structure of our commission rate, which increases as annual targets are achieved, under Topic 606 we record revenue and deferred revenue at the rate we expect to be achieved by year end. Under prior U.S. GAAP, we recognized revenue at the rate achieved at the applicable reporting date. We base our estimate of variable consideration on historical results of previous years&#8217; achievement under the GEHC agreement. Such estimate will be reviewed each quarter and adjusted as necessary. The Company recognized reductions in revenue associated with revisions to variable consideration for previously completed performance obligations of $165,000 for the year ended December 31, 2018.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Shipping and Handling Costs</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">All shipping and handling expenses are charged to cost of sales. Amounts billed to customers related to shipping and handling costs are included as a component of sales.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Research and Development</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Research and development costs attributable to development are expensed as incurred.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Share-Based Compensation</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company complies with ASC Topic 718, &#8220;Compensation &#8211; Stock Compensation&#8221; (&#8220;ASC 718&#8221;), and ASC Topic 505, &#8220;Equity&#8221; (&#8220;ASC 505&#8221;), which requires all companies to recognize the cost of services received in exchange for equity instruments, to be recognized in the financial statements based on their fair values. For employees and non-employee directors, the fair value is measured on the grant date and for non-employees, the fair value is measured on the measurement date and re-measured at each reporting period until performance is complete. The Company applies an estimated forfeiture rate to the grant date fair value to determine the annual compensation cost of share-based payment arrangements with employees. The forfeiture rate is estimated based primarily on job title and prior forfeiture experience. The Company did not grant any awards to non-employees during the years ended December 31, 2018 and 2017.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">During the year ended December 31, 2018, the Company granted 975,000 restricted shares of common stock valued at $63,000 to non-officer employees, and 725,000 restricted shares of common stock valued at $44,000 to officers. The 975,000 shares granted to non-officer employees vest at various times over three to five years from the grant date and the 725,000 shares granted to officers vested in April 2018. The total fair value of shares vested during the year ended December 31, 2018 was $385,000 for employees. The weighted average grant date fair value of shares granted during the year ended December 31, 2018 was $0.06 per share.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">During the year ended December 31, 2017, the Company granted 50,000 restricted shares of common stock valued at $6,000 to non-officer employees, and 925,000 restricted shares of common stock valued at $111,000 to officers. The 975,000 shares granted vested on April 1, 2017. The total fair value of shares vested during the year ended December 31, 2017 was $467,000 for employees. The weighted average grant date fair value of shares granted during the year ended December 31, 2017 was $0.12 per share.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company did not grant any stock options during the years ended December 31, 2018 or 2017, nor were any options exercised during such periods. No options were outstanding at December 31, 2018 or 2017.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Share-based compensation expense recognized for the years ended December 31, 2018 and 2017 was $313,000 and $514,000, respectively, and is recorded in selling, general, and administrative expense in the consolidated statements of operations and comprehensive loss. Unrecognized expense related to existing share-based compensation and arrangements is approximately $207,000 at December 31, 2018 and will be recognized over a weighted-average period of approximately 12 months.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>Cash and Cash Equivalents</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Cash and cash equivalents represent cash and short-term, highly liquid investments either in certificates of deposit, treasury bills, money market funds, or investment grade commercial paper issued by major corporations and financial institutions that generally have maturities of three months or less from the date of acquisition.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>Accounts Receivable, net</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company&#8217;s accounts receivable are due from customers to whom we sell our products and services, distributors engaged in the distribution of our products and from GEHC. Credit is extended based on evaluation of a customer&#8217;s financial condition and, generally, collateral is not required. Accounts receivable are generally due 30 to 90 days from shipment and services provided and are stated at amounts due from customers net of allowances for doubtful accounts, returns, term discounts and other allowances. Accounts that are outstanding longer than the contractual payment terms are considered past due. Estimates are used in determining the allowance for doubtful accounts based on the Company&#8217;s historical collections experience, current trends, credit policy and a percentage of its accounts receivable by aging category. In determining these percentages, the Company reviews historical write-offs of their receivables. The Company also looks at the credit quality of their customer base as well as changes in their credit policies. The Company continuously monitors collections and payments from our customers, and writes off receivables when all efforts at collection have been exhausted. While credit losses have historically been within expectations and the provisions established, the Company cannot guarantee that it will continue to experience the same credit loss rates that they have in the past.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The changes in the Company&#8217;s allowance for doubtful accounts and commission adjustments are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Beginning Balance</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4,872</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4,159</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Provision for losses on accounts receivable</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">460</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">157</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Direct write-offs, net of recoveries</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(268</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(212</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Commission adjustments</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,070</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">768</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Ending Balance</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,994</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,872</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Concentrations of Credit Risk</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">We market our equipment and IT software solutions principally to hospitals, diagnostic imaging centers and physician private practices. We perform credit evaluations of our customers&#8217; financial condition and, as a result, believe that our receivable credit risk exposure is limited. For the years ended December 31, 2018 and 2017, no customer in our equipment or IT segment accounted for 10% or more of revenues or accounts receivable. In our professional sales service segment, 100% of our revenues and accounts receivable are with GEHC; however, we believe this risk is acceptable based on GEHC&#8217;s financial position.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company maintains cash balances in certain U.S. financial institutions, which, at times, may exceed the Federal Depository Insurance Corporation (&#8220;FDIC&#8221;) coverage of $250,000.&#160; The Company has not experienced any losses on these accounts and believes it is not subject to any significant credit risk on these accounts. In addition, the FDIC does not insure the Company&#8217;s foreign bank balances, which aggregated approximately $519,000 and $709,000 at December 31, 2018 and 2017, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Inventories, net</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company values inventories in the equipment segment at the lower of cost or net realizable value, with cost being determined on a first-in, first-out basis. The Company occasionally places EECP&#174; systems and other medical device products at various field locations for demonstration, training, evaluation, and other similar purposes at no charge. The cost of these products is transferred to property and equipment and is amortized over two to five years. The Company records the cost of refurbished components of EECP&#174; systems and critical components at cost plus the cost of refurbishment. The Company regularly reviews inventory quantities on hand, particularly raw materials and components, and records a provision for excess and slow moving inventory based primarily on existing and anticipated design and engineering changes to its products as well as forecasts of future product demand.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In our IT Segment, we purchase computer hardware and software for specific customer requirements and value such inventories using the specific identification method.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Property and Equipment</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Property and equipment, including assets under capital lease, are stated at cost less accumulated depreciation and amortization. Major improvements are capitalized and minor replacements, maintenance and repairs are charged to expense as incurred. Upon retirement or disposal of assets, the cost and related accumulated depreciation are removed from the consolidated balance sheets. Depreciation is expensed over the estimated useful lives of the assets, which range from two to eight years, on a straight-line basis. Accelerated methods of depreciation are used for tax purposes. We amortize leasehold improvements over the useful life of the related leasehold improvement or the life of the related lease, whichever is less.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>Goodwill and Intangible Assets</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill represents the excess of cost over the fair value of net assets of businesses acquired. The Company accounts for goodwill under the guidance of the ASC Topic 350, &#8220;Intangibles: Goodwill and Other&#8221;. Goodwill acquired in a purchase business combination is not amortized, but instead tested for impairment, at least annually, in accordance with this guidance. The recoverability of goodwill is subject to an annual impairment test or whenever an event occurs or circumstances change that would more likely than not result in an impairment. The Company tests goodwill for impairment at the reporting unit level on an annual basis as of December 31 and between annual tests when an event occurs or circumstances change that could indicate that the asset might be impaired. In any year, the Company may elect to perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is in excess of its carrying value. If the Company cannot determine qualitatively that the fair value is in excess of the carrying value, or the Company decides to bypass the qualitative assessment, the Company proceeds to the quantitative goodwill impairment test, which compares the fair value of each reporting unit to its carrying amount, including goodwill. If the fair value of each reporting unit exceeds its carrying amount, goodwill is not considered to be impaired. If the carrying amount of a reporting unit exceeds its fair value, sn impairment loss is recognized for an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. No impairment loss was recorded as of December 31, 2018 and 2017.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Intangible assets consist of the value of customer contracts and relationships, patent and technology costs, and software. The cost of significant customer-related intangibles is amortized in proportion to estimated total related revenue; cost of other intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life, which range from&#160;five&#160;to&#160;ten&#160;years. The Company capitalizes internal use software development costs incurred during the application development stage. Costs related to preliminary project activities, training, data conversion, and post implementation activities are expensed as incurred. The Company capitalized $527,000 and $398,000 in software development costs for the years ended December 31, 2018 and 2017, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Impairment of Long-lived Assets</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company reviews the recoverability of all long-lived assets, including the related useful lives, whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset might not be recoverable. If required, the Company compares the estimated fair value determined by either the undiscounted future net cash flows or appraised value to the related asset&#8217;s carrying value to determine whether there has been an impairment. If an asset is considered impaired, the asset is written down to fair value, which is based either on discounted cash flows or appraised values in the period the impairment becomes known. No assets were determined to be impaired as of December 31, 2018 and 2017.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Deferred Revenue</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Amounts billable under the agreement with GEHC in advance of customer acceptance of the equipment are recorded initially as deferred revenue, and commission revenue is subsequently recognized as customer acceptance of such equipment is reported to us by GEHC. Similarly, commissions payable to our sales force related to such billings are recorded as deferred commission expense when the associated deferred revenue is recorded. Commission expense is recognized when the corresponding commission revenue is recognized.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">We record revenue on extended service contracts ratably over the term of the related service contracts. Under the provisions of ASC 606, we defer revenue related to EECP&#174; system sales for the fair value of installation and in-service training to the period when the services are rendered and for service obligations ratably over the service period, which is generally one year. (See Note I)</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Income Taxes</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Deferred income taxes are recognized for temporary differences between financial statement and income tax bases of assets and liabilities and loss carry-forwards for which income tax benefits are expected to be realized in future years. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized. In estimating future tax consequences, we generally consider all expected future events other than an enactment of changes in the tax laws or rates. Deferred tax assets are continually evaluated for the expected realization. To the extent our judgment regarding the realization of the deferred tax assets changes, an adjustment to the allowance is recorded, with an offsetting increase or decrease, as appropriate, in income tax expense. Such adjustments are recorded in the period in which our estimate as to the realization of the assets changed that it is &#8220;more likely than not&#8221; that all of the deferred tax assets will be realized. The &#8220;realization&#8221; standard is subjective and is based upon our estimate of a greater than 50% probability that the deferred tax asset can be realized.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company also complies with the provisions of ASC Topic 740, &#8220;Income Taxes&#8221;, which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by the relevant taxing authority based on the technical merits. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. Derecognition of a tax benefit previously recognized results in the Company recording a tax liability that reduces ending retained earnings. Based on its analysis, the Company has determined that it has not incurred any liability for unrecognized tax benefits as of December 31, 2018 and 2017. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2018 and 2017. Generally, the Company is no longer subject to income tax examinations by major domestic taxing authorities for years before 2015. According to the China tax regulatory framework, there is no statute of limitations on examination of tax filings by tax authorities. However, the general practice is going back five years. Management is currently unaware of any issues under review that could result in significant payments, accruals or material deviations from its position.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>Foreign Currency Translation (Loss) Gain and Comprehensive Loss</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In countries in which the Company operates, and the functional currency is other than the U.S. dollar, assets and liabilities are translated using published exchange rates in effect at the consolidated balance sheet date.&#160;&#160;Equity accounts are translated at historical rates except for the changes in accumulated deficit during the year as the result of the income statement translation process. Revenues and expenses and cash flows are translated using a weighted average exchange rate for the period.&#160;&#160;Resulting translation adjustments are recorded as a component of accumulated other comprehensive loss on the accompanying consolidated balance sheets.&#160;&#160;For the years ended December 31, 2018 and 2017, other comprehensive loss includes (losses) gains of $(257,000) and $271,000, respectively, which were entirely from foreign currency translation.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Net Loss Per Common Share</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Basic loss per common share is based on the weighted average number of common shares outstanding without consideration of potential common stock. Diluted earnings per common share is based on the weighted average number of common and potential dilutive common shares outstanding.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The following table represents common stock equivalents that were excluded from the computation of diluted earnings per share for the years ended December 31, 2018 and 2017, because the effect of their inclusion would be anti-dilutive.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Restricted common stock grants</font></td> <td style="width: 1%; padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,388</font></td> <td style="width: 1%; padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,204</font></td> <td style="width: 2%; padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Reclassifications</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Certain reclassifications have been made to prior year amounts to conform with the current year presentation.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Recently Issued Accounting Pronouncements</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company continually assesses any new accounting pronouncements to determine their applicability to the Company. Where it is determined that a new accounting pronouncement affects the Company&#8217;s financial reporting, the Company undertakes a study to determine the consequence of the change to its financial statements and assures that there are proper controls in place to ascertain that the Company&#8217;s consolidated financial statements properly reflect the change. New pronouncements assessed by the Company recently are discussed below:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><u>Leases</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In February 2016, The FASB issued ASU 2016-02 (Topic 842), &#8220;Leases&#8221;. ASU 2016-02 requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors are required to recognize and measure leases at either the effective date (the &#8220;effective date method&#8221;) or the beginning of the earliest period presented (the &#8220;comparative method&#8221;) using a modified retrospective approach. Under the effective date method, the Company&#8217;s comparative period reporting is unchanged. In contrast, under the comparative method, the Company&#8217;s date of initial application is the beginning of the earliest comparative period presented, and the Topic 842 transition guidance is then applied to all comparative periods presented. Further, under either transition method, the standard includes certain practical expedients intended to ease the burden of adoption. The Company adopted this new standard January 1, 2019 using the effective date method and elected certain practical expedients allowing the Company not to reassess:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 108px; padding-left: 63pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding: 0.75pt; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">whether expired or existing contracts contain leases under the new definition of a lease;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 108px; padding-left: 63pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding: 0.75pt; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">lease classification for expired or existing leases; and</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td style="vertical-align: top; width: 108px; padding-left: 63pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding: 0.75pt; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">whether previously capitalized initial direct costs would qualify for capitalization under Topic 842.</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less. The Company estimates the adoption of this standard on January 1, 2019 will result in the addition to our consolidated balance sheet of approximately $1.1 million in right-of-use assets and lease liabilities. The standard is not expected to have a material effect on the Company&#8217;s consolidated statements of cash flows or operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><u>Goodwill</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In January 2017, the FASB issued ASU 2017-04, which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit&#8217;s carrying amount over its fair value. The standard is effective for fiscal periods beginning after December 15, 2019. Early adoption is permitted for interim and annual goodwill impairment testing dates after January 1, 2017. The Company early adopted this standard in December 2018. The adoption did not have a material effect on the Company&#8217;s Consolidated Financial Statements.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company views its business in three segments &#8211; the IT segment, the professional sales service segment, and the equipment segment. The IT segment includes the operations of NetWolves and VasoHealthcare IT Corp. The professional sales service segment operates through the Vaso Diagnostics subsidiary and is currently engaged solely in the fulfillment of the Company&#8217;s responsibilities under our agreement with GEHC. The equipment segment is engaged in designing, manufacturing, marketing and supporting EECP&#174; enhanced external counterpulsation systems both domestically and internationally, as well as the development, production, marketing and supporting of other medical devices.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The chief operating decision maker is the Company&#8217;s Chief Executive Officer, who, in conjunction with upper management, evaluates segment performance based on operating income and Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization &#8211; defined as net (loss) income, plus net interest expense (income), tax expense, depreciation and amortization, and non-cash expenses for share-based compensation). Administrative functions such as finance and human resources are centralized and related expenses allocated to each segment. Other costs not directly attributable to operating segments, such as audit, legal, director fees, investor relations, and others, as well as certain assets &#8211; primarily cash balances &#8211; are reported in the Corporate entity below. There are no intersegment revenues. Summary financial information for the segments is set forth below:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Revenues from external customers</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">IT</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">44,228</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">42,581</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales service</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,241</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,764</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total revenues</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">72,788</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross Profit</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">IT</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">18,379</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">17,623</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales service</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">20,165</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">20,630</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,580</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,478</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total gross profit</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">41,124</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">40,731</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Operating (loss) income</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">IT</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(3,748</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(3,375</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales service</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,958</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,954</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(812</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1,066</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Corporate</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,122</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,345</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total operating loss</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,724</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,832</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Depreciation and amortization</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">IT</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,968</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,822</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales service</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">187</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">194</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">367</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">410</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Corporate</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total depreciation and amortization</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,522</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,426</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Capital expenditures</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">IT</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,496</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,185</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales service</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">127</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">82</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">43</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Corporate</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">19</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total cash capital expenditures</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,586</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,374</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Identifiable Assets</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 76%; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">IT</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">28,785</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">28,320</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales service</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">12,193</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">15,658</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6,992</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7,830</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Corporate</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,504</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,970</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total assets</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">50,474</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">56,778</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">For the years ended December 31, 2018 and 2017, GEHC accounted for 34% and 36% of revenue, respectively. Also, GEHC accounted for $7.2 million, or 66%, and $8.9 million, or 67%, of accounts and other receivables at December 31, 2018 and 2017, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Our revenues were derived from the following geographic areas:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Domestic (United States)</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">71,279</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">70,719</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Non-domestic (foreign)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,701</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,069</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">72,788</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The following table presents information regarding the Company&#8217;s accounts and other receivables as of December 31, 2018 and 2017:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Trade receivables</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">15,016</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">18,056</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Due from employees</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">41</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Allowance for doubtful accounts and</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">commission adjustments</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,994</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(4,872</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accounts and other receivables, net</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,028</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,225</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Trade receivables include amounts due for shipped products and services rendered. Amounts currently due under the GEHC Agreement are subject to adjustment in subsequent periods should the underlying sales order amount, upon which the receivable is based, change.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Allowance for doubtful accounts and commission adjustments include estimated losses resulting from the inability of our customers to make required payments, and adjustments arising from estimated future changes in sales order amounts that may reduce the amount the Company will ultimately receive under the GEHC Agreement. Due from employees primarily reflects commission advances made to sales personnel.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Inventories, net of reserves, consisted of the following:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Raw materials</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">577</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">530</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Work in process</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">388</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">449</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Finished goods</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,018</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,376</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,983</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,355</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">At December 31, 2018 and 2017, the Company maintained reserves for slow moving inventories of $636,000 and $746,000, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Property and equipment is summarized as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Office, laboratory and other equipment</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,885</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,953</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment furnished for customer</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">or clinical uses</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8,167</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6,615</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Furniture and fixtures</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">127</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">131</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">12,179</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">9,699</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Less: accumulated depreciation and amortization</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(6,370</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(4,980</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;Property and equipment, net</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,809</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,719</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Assets under capital lease comprised approximately $855,000 and $387,000 of the office, laboratory and other equipment asset class at December 31, 2018 and 2017, respectively, and approximately $60,000 and $0 of the equipment furnished for customer or clinical use asset class at December 31, 2018 and 2017, respectively. Accumulated amortization of assets under capital lease aggregated approximately $250,000 and $103,000 at December 31, 2018 and 2017, respectively. Depreciation expense amounted to approximately $1,489,000 and $1,290,000 for the years ended December 31, 2018 and 2017, respectively. Amortization of assets under capital lease is included in depreciation expense.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill of $14,375,000 is attributable to the NetWolves reporting unit within the IT segment. The remaining $2,934,000 of goodwill is attributable to the FGE reporting unit within the Equipment segment. The NetWolves and FGE reporting units had negative net asset carrying amounts at December 31, 2018 and 2017. The changes in the carrying amount of goodwill are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Beginning of year</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">17,471</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">17,280</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Foreign currency translation adjustment</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(162</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">191</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">End of year</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">17,309</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">17,471</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company&#8217;s other intangible assets consist of capitalized customer-related intangibles, patent and technology costs, and software costs, as set forth in the following table:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Customer-related</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Costs</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">5,831</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">5,831</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accumulated amortization</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,083</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2,501</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,748</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,330</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Patents and Technology</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Costs</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,363</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,331</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accumulated amortization</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,532</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,260</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">831</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,071</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Software</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Costs</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,346</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,819</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accumulated amortization</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,185</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(966</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,161</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">853</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">4,740</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">5,254</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company owns four US utility patents that expire at various times through 2023, and, through our Chinese subsidiaries, we own sixteen invention and utility patents that expire at various times through 2028, as well as fourteen software copyright certificates in China related to proprietary technologies in physiological data acquisition, analysis and reporting. The Company also holds one patent for secure and remote monitoring management through its NetWolves subsidiary. Costs incurred for submitting the applications to the United States Patent and Trademark Office and other foreign authorities for these patents have been capitalized. Patent and technology costs are being amortized using the straight-line method over 10-year and 8-year lives, respectively. The Company begins amortizing patent costs once a filing receipt is received stating the patent serial number and filing date from the Patent Office or other foreign authority. The cost of significant customer-related intangibles is amortized in proportion to estimated total related revenue; cost of other customer-related intangible assets is amortized on a straight-line basis over the asset's estimated economic life of seven years. Software costs are amortized on a straight-line basis over its expected useful life of five years.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Amortization expense amounted to approximately $1,033,000 and $1,136,000 for the years ended December 31, 2018 and 2017, respectively. Amortization of intangibles for the next five years is:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">Years ending December 31,</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2019</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,017</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2020</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">934</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2021</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">858</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2022</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">562</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2023</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">328</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,699</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Other assets consist of the following:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred commission expense - noncurrent</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,978</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,867</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Trade receivables - noncurrent</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">630</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">968</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other, net of allowance for loss on loan receivable of</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;$412 at December 31, 2018 and 2017</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">459</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,012</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,067</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,847</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The changes in the Company&#8217;s deferred revenues are as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred revenue at beginning of year</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">23,066</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">19,404</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net additions:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred extended service contracts</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">687</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">705</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred in-service and training</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">20</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred service arrangements</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">15</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">43</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred commission revenues</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4,960</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">14,779</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Recognized as revenue:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred extended service contracts</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(628</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(661</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred in-service and training</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(5</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(20</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred service arrangements</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(31</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(45</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred commission revenues</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(9,986</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(11,159</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred revenue at end of year</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">18,086</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">23,066</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Less: current portion</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">10,382</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">15,540</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Long-term deferred revenue at end of year</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,704</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,526</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Accrued expenses and other liabilities consist of the following:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accrued compensation</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">648</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,181</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accrued expenses - other</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,092</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,207</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other liabilities</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,915</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,949</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,655</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,337</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In March 2018, the Company sold its interest in the VSK joint venture to PSK for a sales price of $676,000 and executed a distributorship agreement, expiring December 31, 2020, with VSK for the sale of the Company&#8217;s EECP&#174; products in certain international markets. The sale resulted in a gain of approximately $212,000 and net cash proceeds of approximately $311,000 after satisfaction of deposits and other payables due to VSK aggregating approximately $365,000 at time of sale. Prior to the sale, the Company&#8217;s pro-rata share in VSK&#8217;s loss from operations approximated $20,000 for the year ended December 31, 2017, and $9,000 for the three months ended March 31, 2018, and is included in interest and other income, net in the accompanying consolidated statements of operations and comprehensive loss.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">David Lieberman, a practicing attorney in the State of New York, serves as Vice Chairman of the Board of Directors.&#160;&#160;He is currently a senior partner at the law firm of Beckman, Lieberman &#38; Barandes, LLP, which performs certain legal services for the Company. Fees of approximately $340,000 were billed by the firm for each of the years ended December 31, 2018 and 2017, at which dates $28,000 and $0 were outstanding, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">On August 6, 2014 the Company acquired all of the outstanding shares of Genwell Instruments Co. Ltd. (&#8220;Genwell&#8221;), located in Wuxi, China for cash and notes of Chinese Yuan RMB13,250,000 (approximately $2,151,000 at the acquisition date). The Company issued the RMB6,250,000 note as part of the acquisition payment and, in May 2015, modified the note to change the interest rate from 5% to 9% per annum, effective August 28, 2015, and to extend the maturity date from August 26, 2015 to August 26, 2019. In July 2017 and October 2017, the Company made partial principal payments aggregating RMB2,250,000 (approximately $335,000), plus accrued interest, on notes payable to the president of LET and the president of Biox. Unsecured notes and accrued interest aggregating approximately $335,000, and $354,000 was payable to officers of Biox at December 31, 2018 and 2017, respectively.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In November and December 2018, the Company issued unsecured notes aggregating $500,000 to certain directors. The notes bore interest at 10% per annum and matured on March 25, 2019. Principal and interest on these notes were paid off upon maturity.</font></p> <p style="margin: 0pt; font: 8pt Times New Roman, Times, Serif"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Notes payable and capital lease obligations consist of the following:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Line of credit</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4,171</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,393</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Unsecured term loan</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">145</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">153</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Note payable</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">14</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Notes payable - MedTech (net of $14 and $46 in</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">debt issue costs at December 31, 2018 and 2017)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4,786</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4,754</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Notes payable - related parties</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">827</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">345</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Capital lease obligations</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">588</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">208</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total debt and lease obligations</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">10,531</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8,853</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Less: current portion (including related parties)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(9,886</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,760</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">645</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,093</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>Line of Credit</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In November 2018, NetWolves' lending institution extended its $4.0 million line of credit. Advances under the line, which expires on June 28, 2019, bear interest at a rate of LIBOR plus 3% (aggregating 5.52% at December 31, 2018 and 3.82% at December 31, 2017, based on the rate of LIBOR plus 2.25% in effect at such date) and are secured by substantially all of the assets of NetWolves Network Services, LLC and guaranteed by Vaso Corporation. At December 31, 2018, the Company had drawn approximately $2.9 million against the line.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In November 2018, the Company&#8217;s lending institution extended its $2.0 million line of credit agreement with the same institution. Advances under the line, which expires on June 28, 2019, bear interest at a rate of LIBOR plus 3% (aggregating 5.52% at December 31, 2018) and are secured by substantially all of the assets of the Company. At December 31, 2018, the Company had drawn approximately $1.25 million against the line. The line of credit agreement includes certain financial covenants. At December 31, 2018 and 2017, the Company was not in compliance with both such covenants, and the lending institution waived the covenants through June 28, 2019.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>Unsecured Term Loan</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In December 2018, Biox extended its one-year unsecured term loan of RMB1,000,000 (approximately $145,000) with a Chinese bank for an additional year maturing on December 6, 2019. The loan bears interest at 4.79% per year.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>Notes Payable</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company financed certain FGE equipment purchases through an interest-free note payable to a Chinese bank. The note, which is secured by the financed equipment, is payable in 18 monthly installments ending in December 2019.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">On May 29, 2015, the Company entered into a Note Purchase Agreement with MedTechnology Investments, LLC (&#8220;MedTech&#8221;) pursuant to which it issued MedTech a secured subordinated promissory note (&#8220;Note&#8221;) for $3,800,000 for the purchase of NetWolves. MedTech was formed to acquire the Note, and $1,950,000 of the aggregate funds used to acquire the Note was provided by six of our directors. In June 2015, a second Note for $750,000 was issued to MedTech for working capital purposes, of which $250,000 was provided by a director and a director&#8217;s relative. In July 2015, an additional $250,000 was borrowed under the Note Purchase Agreement. The Notes bear interest at an annual rate of 9%, mature on May 29, 2019, may be prepaid without penalty, and are subordinated to any current or future Senior Debt as defined in the Subordinated Security Agreement. The Subordinated Security Agreement secures payment and performance of the Company&#8217;s obligations under the Notes and as a result, MedTech was granted a subordinated security interest in the Company&#8217;s assets.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"><i>Capital lease obligations</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In July 2016, the Company entered into two three-year lease agreements for network equipment installed at its Florida data center.&#160; In September 2018, the Company entered into a capital lease, payable quarterly over a 60-month term, for primarily the acquisition of network components in its Florida data center. The fair market value and capital lease liability of the leased equipment at inception was approximately $399,000, of which approximately $78,000 is recorded in current liabilities. In November 2018, the Company entered into an additional capital lease, payable monthly over a 43-month term, for the acquisition of additional network components in its Florida data center. The fair market value and capital lease liability of the leased equipment at inception was approximately $130,000, of which approximately $29,000 is recorded in current liabilities. Assets under capital leases and related accumulated amortization is recorded under property and equipment in the accompanying consolidated balance sheets.&#160; The future minimum lease payments as of December 31, 2018 are set forth in the following table:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">Years ending December 31,</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>&#160;(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2019</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">231</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2020</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">146</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2021</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">146</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2022</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">120</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2023</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">47</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">690</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Portion representing interest</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(85</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Portion representing executory costs</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(17</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total capital lease obligations</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">588</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Total amounts payable by the Company under its various notes payable and capital lease obligations outstanding as of December 31, 2018 are:&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td colspan="4" style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i></i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><b><i>&#160;(in&#160;thousands)</i></b></td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-bottom: black 0.75pt solid"><font style="font: 8pt Times New Roman, Times, Serif"><b>Years ending December 31,</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Notes payable</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Capital leases</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 64%; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2019</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">9,712</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">188</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">9,900</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2020</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">245</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">116</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">361</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2021</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">126</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">126</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2022</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">112</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">112</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2023</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">46</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">46</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9,957</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">588</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">10,545</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>Chinese subsidiaries dividends and statutory reserves</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The payment of dividends by entities organized in China is subject to limitations. In particular, regulations in China currently permit payment of dividends only out of accumulated profits as determined in accordance with PRC accounting standards and regulations. Based on People&#8217;s Republic of China (PRC) accounting standards, our Chinese subsidiaries are also required to set aside at least 10% of after-tax profit each year to their general reserves until the accumulative amount of such reserves reaches 50% of the registered capital. As of December 31, 2018 and 2017, statutory reserves aggregating approximately $35,000 were recorded in the Company&#8217;s consolidated balance sheets. These reserves are not distributable as cash dividends. In addition, they are required to allocate a portion of their after-tax profit to their staff welfare and bonus fund at the discretion of their respective boards of directors. Moreover, if any of our PRC subsidiaries incurs debt on its own behalf in the future, the instruments governing the debt may restrict its ability to pay dividends or make other distributions to us. Distribution of dividends from the Chinese operating companies to foreign shareholders is subject to a 10% withholding tax.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>2010 Stock Option and Stock Issuance Plan</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">On June 17, 2010 the Board of Directors approved the 2010 Stock Plan (the &#8220;2010 Plan&#8221;) for officers, directors, employees and consultants of the Company. The stock issuable under the 2010 Plan shall be shares of the Company&#8217;s authorized but unissued or reacquired common stock. The maximum number of shares of common stock which may be issued under the 2010 Plan is 5,000,000 shares.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The 2010 Plan is comprised of two separate equity programs, the Options Grant Program, under which eligible persons may be granted options to purchase shares of common stock, and the Stock Issuance Program, under which eligible persons may be issued shares of common stock directly, either through the immediate purchase of such shares or as a bonus for services rendered to the Company.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The 2010 Plan provides that the Board of Directors, or a committee of the Board of Directors, will administer it with full authority to determine the identity of the recipients of the options or shares and the number of options or shares. Options granted under the 2010 Plan may be either incentive stock options or non-qualified stock options. The option price shall be 100% of the fair market value of the common stock on the date of the grant ( or in the case of incentive stock options granted to any individual stockholder possessing more than 10% of the total combined voting power of all voting stock of the Company, 110% of such fair market value). The term of any option may be fixed by the Board of Directors, or its authorized committee, but in no event shall it exceed five years from the date of grant. Options are exercisable upon payment in full of the exercise price, either in cash or in common stock valued at fair market value on the date of exercise of the option.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">No shares or options were granted under the 2010 Plan during the year ended December 31, 2018.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>2013 Stock Option and Stock Issuance Plan</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">On October 30, 2013, the Board of Directors approved the 2013 Stock Plan (the &#8220;2013 Plan&#8221;) for officers, directors, employees and consultants of the Company. The stock issuable under the 2013 Plan shall be shares of the Company&#8217;s authorized but unissued or reacquired common stock. The maximum number of shares of common stock which may be issued under the 2013 Plan is 7,500,000 shares.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The 2013 Plan is comprised of two separate equity programs, the Options Grant Program, under which eligible persons may be granted options to purchase shares of common stock, and the Stock Issuance Program, under which eligible persons may be issued shares of common stock directly, either through the immediate purchase of such shares or as a bonus for services rendered to the Company. The 2013 Plan provides that the Board of Directors, or a committee of the Board of Directors, will administer it with full authority to determine the identity of the recipients of the options or shares and the number of options or shares.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">During the year ended December 31, 2018, 475,000 shares of common stock were granted under the 2013 Plan, 320,416 shares were forfeited, and 70,725 shares were withheld for withholding taxes.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">No options were granted under the 2013 Plan during the year ended December 31, 2018.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>2016 Stock Option and Stock Issuance Plan</i></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">On June 15, 2016, the Board of Directors (&#34;Board&#34;) approved the 2016 Stock Plan (the &#34;2016 Plan&#34;) for officers, directors, and senior employees of the Corporation or any subsidiary of the Corporation.&#160; The stock issuable under the 2016 Plan shall be shares of the Company's authorized but unissued or reacquired common stock.&#160; The maximum number of shares of common stock that may be issued under the 2016 Plan is 7,500,000 shares.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The 2016 Plan consists of a Stock Issuance Program, under which eligible persons may, at the discretion of the Board, be issued shares of common stock directly, as a bonus for services rendered or to be rendered to the Corporation or any subsidiary of the Corporation.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In March 2018, 725,000 restricted shares of common stock under the 2016 Plan were granted to officers. The shares vested in April 2018. In June 2018, the Company granted 500,000 shares of restricted common stock to employees, vesting over a three year period.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">No options were granted under the 2016 Plan during the year ended December 31, 2018.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The following table summarizes non-vested restricted shares for the year ended December 31, 2018:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Shares Available for Future Issuance</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Unvested shares</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Weighted Average Grant Date Fair Value</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 64%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Balance at December 31, 2016</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4,031,946</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6,763,125</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.16</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Authorized</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Granted</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(975,000</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">975,000</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.12</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Vested</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(3,380,437</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.15</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Forfeited</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">153,730</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(153,730</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.16</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Balance at December 31, 2017</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,210,676</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,203,958</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.16</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Authorized</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Granted</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1,700,000</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,700,000</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.06</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Vested</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(3,125,317</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.14</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Forfeited</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">391,141</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(391,141</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.16</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Balance at December 31, 2018</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,901,817</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,387,500</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif">$<font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right">0.12</td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">There were 68,543,396 remaining authorized shares of common stock after reserves for all stock option plans.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><font style="font: 8pt Times New Roman, Times, Serif">The Tax Cuts and Jobs Act (the &#8220;Tax Act&#8221;) was enacted on December 22, 2017. The Tax Act reduces the maximum U.S. federal corporate tax rate from 35% to 21%, allows net operating losses incurred in 2018 and beyond to be carried forward indefinitely, allows alternative minimum tax carryforwards to be partially refunded, beginning in 2018, and fully refunded by 2021, and creates new taxes on certain foreign sourced earnings.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The following is a geographical breakdown of loss before the provision for income taxes:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Domestic</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(3,967</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(4,161</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Foreign</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(152</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(244</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Loss before provision for income taxes</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(4,119</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(4,405</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The provision for income taxes consisted of the following:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Current provision (benefit)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Federal</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(154</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">State</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">63</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">59</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Foreign</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">35</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total current provision (benefit)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">98</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(82</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred provision (benefit)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Federal</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(376</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">168</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">State</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(107</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">48</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Foreign</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred provision (benefit)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(483</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">216</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total income tax provision (benefit)</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(385</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">134</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Effective income tax rate</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: #4F81BD 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: #4F81BD 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9.35</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: #4F81BD 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: #4F81BD 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-3.04</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Income tax benefit for the year ended December 31, 2018 was $385,000 due primarily to $483,000 in tax benefit related to deferred tax liabilities arising from goodwill generated by the NetWolves acquisition and $63,000 in state income taxes.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The following is a reconciliation of the effective income tax rate to the federal statutory rate:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>For the year ended</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>%</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>%</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Federal statutory rate</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">21.00</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">34.00</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">State income taxes</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(0.87</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1.34</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Change in valuation allowance</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;relating to operations</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(7.75</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(42.38</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Impact of federal statutory rate change</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(6.44</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Impact of federal statutory rate change on</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;valuation allowance</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">13.74</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Foreign tax rate differential</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(2.20</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">R&#38;D credit</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(0.22</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Nondeductible expenses</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(3.09</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1.93</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Minimum tax credit refundable</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3.51</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.28</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9.35</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3.04</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The effective tax rate increased mainly due to the change from tax expense in 2017 to tax benefit in 2018.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">As of December 31, 2018, the recorded deferred tax assets were $14,983,000, reflecting an increase of $1,868,000 during the year ended December 31, 2018, which was offset by a valuation allowance of $12,077,000, reflecting an increase of $319,000.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The components of our deferred tax assets and liabilities are summarized as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred Tax Assets:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net operating loss carryforwards</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">12,402</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">10,623</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Amortization</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">304</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">262</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Stock-based compensation</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">16</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">49</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Allowance for doubtful accounts</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">88</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">36</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Reserve for obsolete inventory</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">239</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">235</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Tax credits</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">429</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">438</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Expense accruals</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">392</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">579</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Excess interest carryforwards</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">171</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred revenue</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">942</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">893</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 45pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total gross deferred taxes</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">14,983</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">13,115</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Valuation allowance</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(12,077</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(11,758</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 45pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net deferred tax assets</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,906</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,357</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred Tax Liabilities:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred commissions</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(245</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(224</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(927</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(668</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Differences in timing of revenue recognition</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(124</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(112</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Depreciation</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,360</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(573</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 45pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred tax liabilities</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2,656</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,577</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred tax assets (liabilities)</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">250</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(220</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Recorded as:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Non-current deferred tax assets </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">374</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Non-current deferred tax liabilities</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(124</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(220</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred tax assets (liabilities)</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">250</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(220</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The activity in the valuation allowance is set forth below:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Valuation allowance, January 1,</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">11,758</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">15,695</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Change in valuation allowance</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">319</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,937</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Valuation allowance, December 31,</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,077</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,758</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">At December 31, 2018, the Company had net operating loss carryforwards for federal and state income tax purposes of approximately $39 million expiring at various dates from 2020 through 2037 and approximately $7 million with no expiration date.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Under current tax law, the utilization of tax attributes will be restricted if an ownership change, as defined, were to occur. Section 382 of the Internal Revenue Code provides, in general, that if an &#8220;ownership change&#8221; occurs with respect to a corporation with net operating and other loss carryforwards, such carryforwards will be available to offset taxable income in each taxable year after the ownership change only up to the &#8220;Section 382 Limitation&#8221; for each year (generally, the product of the fair market value of the corporation&#8217;s stock at the time of the ownership change, with certain adjustments, and a specified long-term tax-exempt bond rate at such time). The Company&#8217;s ability to use its loss carryforwards will be limited in the event of an ownership change.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">The Company maintains a defined contribution plan to provide retirement benefits for its employees - the Vaso Corporation 401(k) Plan adopted in April 1997. As allowed under Section 401(k) of the Internal Revenue Code, the plan provides tax-deferred salary deductions for eligible employees. Employees are eligible to participate in the next quarter enrollment period after employment and participants may make voluntary contributions to the plan up to 80% of their compensation. In the years ended December 31, 2018 and 2017 the Company made discretionary contributions of approximately $96,000 and $116,000, respectively, to match a percentage of employee contributions.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">In accordance with the original acquisition agreement of Gentone by FGE, in March 2019 the Company's subsidiary Gentone exercised its option to acquire all of the shares of Biox.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></p> <p style="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">Subsequent to December 31, 2018, the Company issued notes aggregating $750,000 to certain directors, employees, and a shareholder.&#160;&#160; The notes mature at various periods through April 3, 2020 and bear interest at 10% per annum payable quarterly.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The consolidated financial statements include the accounts of Vaso Corporation, its wholly-owned subsidiaries, and the variable interest entity where the Company is the primary beneficiary. Significant intercompany balances and transactions have been eliminated.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Basic Information</u></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company follows the guidance of accounting for variable interest entities, which requires certain variable interest entities to be consolidated by the primary beneficiary of the entities.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Biox is a Variable Interest Entity (&#8220;VIE&#8221;). Laws and regulations of the Peoples Republic of China (&#8220;PRC&#8221;) prohibit or restrict companies with foreign ownership from certain activities and benefits including eligibility for certain government grants and certain rebates related to commercial activities. To provide the Company the expected residual returns of the VIE, the Company, through its wholly-owned subsidiary Gentone, entered into a series of contractual arrangements with Biox and its registered shareholders to enable the Company, to:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">exercise effective control over the VIE;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">receive substantially all of the economic benefits and residual returns, and absorb substantially all the risks of the VIE as if they were their sole shareholders; and</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">have an exclusive option to purchase all of the equity interests in the VIE.</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s management evaluated the relationships between the Company and Biox, and the economic benefits flow of the applicable contractual arrangements. The Company concluded that it is the primary beneficiary of Biox. As a result, the results of operations, assets and liabilities of Biox have been included in the Company&#8217;s consolidated financial statements.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The significant agreements through which the Company exercises effective control over Biox are:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">the Exclusive Technical Consulting Services Agreement between Biox and Gentone;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">the Option Agreement on Purchase of the Equity Interest executed by and among the shareholders of Biox and Gentone;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">the Equity Pledge Agreement executed by and among the shareholders of Biox and Gentone; and</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">the Powers of Attorney issued by the shareholders of Biox.</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Financial Information of VIE</u></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Liabilities recognized as a result of consolidating this VIE do not represent additional claims on the Company&#8217;s general assets. VIE assets can be used to settle obligations of the primary beneficiary. The financial information of Biox, which was included in the accompanying consolidated financial statements, is presented as follows:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>As of December 31,</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>2018</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>2017</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 78%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Cash and cash equivalents</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">97</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">41</font></td> <td style="width: 1%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Total assets</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,641</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,599</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Total liabilities</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,662</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,745</font></td> <td style="line-height: 107%">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>Year ended December 31,</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>2018</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>2017</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 78%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Total net revenue</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">2,294</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,597</font></td> <td style="width: 1%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Net income (loss)</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">111</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">(524</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">)</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;U.S. GAAP&#8221;) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions relate to estimates of collectibility of accounts receivable, the realizability of deferred tax assets, stock-based compensation, values and lives assigned to acquired intangible assets, fair value of reporting units in connection with goodwill impairment test, the adequacy of inventory reserves, variable consideration, and allocation of contract transaction price to performance obligations. Actual results could differ from those estimates.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). Under the standard, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. ASU 2014-09 replaced most existing revenue recognition guidance in U.S. GAAP. The new standard introduces a five-step process to be followed in determining the amount and timing of revenue recognition. It also provides guidance on accounting for costs incurred to obtain or fulfill contracts with customers, and establishes disclosure requirements which are more extensive than those required under prior U.S. GAAP. Generally, we recognize revenue under Topic 606 for each of our performance obligations either over time (generally, the transfer of a service) or at a point in time (generally, the transfer of a good) as follows:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 48px; padding-left: 0.25in; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">VasoTechnology</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Revenue relating to recurring managed network and voice services provided by NetWolves are recognized as provided on a monthly basis (&#8220;over time&#8221;). Non-recurring charges related to the provision of such services are recognized in the period provided (&#8220;point in time&#8221;). In the IT VAR business, software system installations are recognized upon verification of installation and expiration of an acceptance period (&#8220;point in time&#8221;). Monthly post-implementation customer support provided under such installations as well as software solutions offered under a monthly Software as a Service (&#8220;SaaS&#8221;) fee basis are recognized monthly over the contract term (&#8220;over time&#8221;).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 48px; padding-left: 0.25in; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">VasoHealthcare</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Commission revenue is recognized when the underlying equipment has been delivered by GEHC and accepted at the customer site in accordance with the terms of the specific sales agreement (&#8220;point in time&#8221;).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 48px; padding-left: 0.25in; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">VasoMedical</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In the United States, we recognized revenue from the sale of our medical equipment in the period in which we deliver the product to the customer (&#8220;point in time&#8221;). Revenue from the sale of our medical equipment to international markets is recognized upon shipment of the product to a common carrier, as are supplies, accessories and spare parts delivered in both domestic and international markets (&#8220;point in time&#8221;). The Company also recognizes revenue from the maintenance of EECP&#174; systems either on a time and material as-billed basis (&#8220;point in time&#8221;) or through the sale of a service contract, where revenue is recognized ratably over the contract term (&#8220;over time&#8221;).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Impact of Adoption</u></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Effective January 1, 2018, the Company adopted the requirements of Topic 606 using the modified retrospective method, which provided that the cumulative effect from prior periods upon applying the new guidance was recognized in our consolidated balance sheets as of the date of adoption, including an adjustment to retained earnings, and that prior periods are not retrospectively adjusted. The Company elected to apply the modified retrospective method only to contracts that were not completed at January 1, 2018. A summary and discussion of such cumulative effect adjustment and the impact on current period financial statements of adopting Topic 606 is as follows:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="10" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>&#160;(in thousands)</i></b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="10" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2018</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>prior U.S. GAAP</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Topic 606 impact</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>as reported</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">STATEMENT OF OPERATIONS</font></td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Revenues</font></td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 66%; text-indent: 0.25in; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales services</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="width: 2%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 27pt; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Total revenues</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Gross Profit</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">41,124</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">41,124</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Operating expenses</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Selling, general and administrative</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">44,083</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(121</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">43,962</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.5in; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Operating loss</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(3,845</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">121</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(3,724</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="10" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>&#160;(in thousands)</i></b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="10" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>As of December 31, 2018</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>prior U.S. GAAP</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Topic 606 impact</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>as reported</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">ASSETS</font></td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 66%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Accounts and other receivables, net</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">11,028</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">11,028</font></td> <td style="width: 2%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Deferred commission expense</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">2,577</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">8</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">2,585</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Other assets, net</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,252</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">190</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,442</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">LIABILITIES AND STOCKHOLDERS' EQUITY</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Deferred revenue - current portion</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">10,382</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">10,382</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Deferred revenue - long term</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">7,704</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">7,704</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Accumulated deficit</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(56,185</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">261</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(55,924</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"><u>Disaggregation of Revenue</u></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following tables present revenues disaggregated by our business operations and timing of revenue recognition:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="14" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2018</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="14" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2017</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Professional sales</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equipment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Professional sales</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equipment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>IT segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>service segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>IT segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>service segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Network services</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">40,254</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">40,254</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">38,882</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">38,882</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Software sales and support</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,974</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,974</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,699</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,699</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Commissions</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 14%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Medical equipment sales</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,151</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,151</font></td> <td style="width: 4%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">2,660</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">2,660</font></td> <td style="width: 4%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Medical equipment service</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">1,090</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">1,090</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">1,104</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">1,104</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">44,228</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,241</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">42,581</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,764</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">72,788</font></td> <td style="line-height: 107%">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="14" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2018</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="14" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2017</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Professional sales</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equipment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Professional sales</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equipment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>IT segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>service segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>IT segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>service segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 14%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Revenue recognized over time</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">39,340</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">658</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">39,998</font></td> <td style="width: 4%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">37,629</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">707</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">38,336</font></td> <td style="width: 4%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Revenue recognized at a point in time</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,888</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,583</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">33,982</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,952</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,057</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">34,452</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">44,228</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,241</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">42,581</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,764</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">72,788</font></td> <td style="line-height: 107%">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Transaction Price Allocated to Remaining Performance Obligations</u></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As of December 31, 2018, the aggregate amount of transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) for executed contracts approximates $82.2 million, of which we expect to recognize revenue as follows:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="14" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fiscal years of revenue recognition</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2019</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2020</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2021</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Thereafter</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 50%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Unfulfilled performance obligations</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">41,271</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">26,087</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">8,595</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">6,278</font></td> <td style="width: 3%; line-height: 107%">&#160;</td></tr> <tr> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Contract Liabilities</u></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Contract liabilities arise in our IT VAR, VasoHealthcare, and VasoMedical businesses. In our IT VAR business, payment arrangements with clients typically include an initial payment due upon contract signing and milestone-based payments based upon product delivery and go-live, as well as post go-live monthly payments for subscription and support fees. Customer payments received, or receivables recorded, in advance of go-live and customer acceptance, where applicable, are deferred as contract liabilities. Such amounts aggregated approximately $344,000 and $371,000 at December 31, 2018 and 2017, respectively, and are included in accrued expenses and other liabilities in our consolidated balance sheets.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In our VasoHealthcare business, we bill amounts for booked orders in advance of customer acceptance of the equipment. Such amounts aggregated approximately $17,098,000 and $22,126,000 at December 31, 2018 and 2017, respectively, and are classified in our consolidated balance sheets into current or long-term deferred revenue. In addition, we record a contract liability for amounts expected to be credited back to GEHC due to customer order reductions. Such amounts aggregated approximately $2,315,000 and $1,143,000 at December 31, 2018 and 2017, respectively, and are included in accrued expenses and other liabilities in our consolidated balance sheets.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In our VasoMedical business, we bill amounts for post-delivery services and varying duration service contracts in advance of performance. Such amounts aggregated approximately $988,000 and $941,000 at December 31, 2018 and 2017, respectively, and are classified in our consolidated balance sheets as either current or long-term deferred revenue.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">During the year ended December 31, 2018, we recognized approximately $7.3 million of revenues that were included in our contract liability balance at the beginning of such period.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Costs to Obtain or Fulfill a Contract</u></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Topic 606 requires that incremental costs of obtaining a contract are recognized as an asset and amortized to expense in a pattern that matches the timing of the revenue recognition of the related contract. We have determined the only significant incremental costs incurred to obtain contracts with customers within the scope of Topic 606 are certain sales commissions paid to associates. In addition, the Company elected the practical expedient to recognize the incremental costs of obtaining a contract when incurred for contracts where the amortization period for the asset the Company would otherwise have recognized is one year or less.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Under prior U.S. GAAP, we recognized sales commissions in our equipment segment as incurred. Under Topic 606, sales commissions applicable to service contracts exceeding one year have been capitalized and amortized ratably over the term of the contract. In our IT VAR business, all commissions paid in advance of go-live were, under prior U.S. GAAP, capitalized as deferred commission expense and charged to expense at go-live or customer acceptance, as applicable. Under Topic 606, IT VAR commissions allocable to multi-year subscription contracts or multi-year post-contract support performance obligations are amortized to expense ratably over the terms of the multi-year periods. IT VAR commissions allocable to other elements continue to be charged to expense at go-live or customer acceptance, as was previously done. At the date of adoption of Topic 606, we recorded an asset, and related adjustment to retained earnings, of approximately $139,000 in our consolidated balance sheets for the amount of unamortized sales commissions for prior periods, as calculated under the new guidance. The impact to our financial statements of adopting Topic 606, as it relates to costs to obtain contracts, was a reduction in commission expense of approximately $121,000 for the year ended December 31, 2018, an increase in deferred commission expense of approximately $8,000, and an increase in long term deferred commission expense (recorded in other assets) of approximately $190,000 (inclusive of the beginning balance adjustment of $139,000).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In our professional sales services segment, under both prior U.S. GAAP and Topic 606, commissions paid to our sales force are deferred until the underlying equipment is accepted by the customer.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">At December 31, 2018, our consolidated balance sheet includes approximately $4,562,000 in capitalized sales commissions to be expensed in future periods, of which $2,585,000 is recorded in deferred commission expense and $1,977,000, representing the long-term portion, is included in other assets.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Significant Judgments when Applying Topic 606</u></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Contract transaction price is allocated to performance obligations using estimated stand-alone selling price. Judgment is required in estimating stand-alone selling price for each distinct performance obligation. We determine stand-alone selling price maximizing observable inputs such as stand-alone sales when they exist or substantive renewal price charged to clients. In instances where stand-alone selling price is not observable, we utilize an estimate of stand-alone selling price based on historical pricing and industry practices.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Certain revenue we record in our professional sales service segment contains an estimate for variable consideration. Due to the tiered structure of our commission rate, which increases as annual targets are achieved, under Topic 606 we record revenue and deferred revenue at the rate we expect to be achieved by year end. Under prior U.S. GAAP, we recognized revenue at the rate achieved at the applicable reporting date. We base our estimate of variable consideration on historical results of previous years&#8217; achievement under the GEHC agreement. Such estimate will be reviewed each quarter and adjusted as necessary. The Company recognized reductions in revenue associated with revisions to variable consideration for previously completed performance obligations of $165,000 for the year ended December 31, 2018.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">All shipping and handling expenses are charged to cost of sales. Amounts billed to customers related to shipping and handling costs are included as a component of sales.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Research and development costs attributable to development are expensed as incurred.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company complies with ASC Topic 718, &#8220;Compensation &#8211; Stock Compensation&#8221; (&#8220;ASC 718&#8221;), and ASC Topic 505, &#8220;Equity&#8221; (&#8220;ASC 505&#8221;), which requires all companies to recognize the cost of services received in exchange for equity instruments, to be recognized in the financial statements based on their fair values. For employees and non-employee directors, the fair value is measured on the grant date and for non-employees, the fair value is measured on the measurement date and re-measured at each reporting period until performance is complete. The Company applies an estimated forfeiture rate to the grant date fair value to determine the annual compensation cost of share-based payment arrangements with employees. The forfeiture rate is estimated based primarily on job title and prior forfeiture experience. The Company did not grant any awards to non-employees during the years ended December 31, 2018 and 2017.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">During the year ended December 31, 2018, the Company granted 975,000 restricted shares of common stock valued at $63,000 to non-officer employees, and 725,000 restricted shares of common stock valued at $44,000 to officers. The 975,000 shares granted to non-officer employees vest at various times over three to five years from the grant date and the 725,000 shares granted to officers vested in April 2018. The total fair value of shares vested during the year ended December 31, 2018 was $385,000 for employees. The weighted average grant date fair value of shares granted during the year ended December 31, 2018 was $0.06 per share.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">During the year ended December 31, 2017, the Company granted 50,000 restricted shares of common stock valued at $6,000 to non-officer employees, and 925,000 restricted shares of common stock valued at $111,000 to officers. The 975,000 shares granted vested on April 1, 2017. The total fair value of shares vested during the year ended December 31, 2017 was $467,000 for employees. The weighted average grant date fair value of shares granted during the year ended December 31, 2017 was $0.12 per share.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company did not grant any stock options during the years ended December 31, 2018 or 2017, nor were any options exercised during such periods. No options were outstanding at December 31, 2018 or 2017.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Share-based compensation expense recognized for the years ended December 31, 2018 and 2017 was $313,000 and $514,000, respectively, and is recorded in selling, general, and administrative expense in the consolidated statements of operations and comprehensive loss. Unrecognized expense related to existing share-based compensation and arrangements is approximately $207,000 at December 31, 2018 and will be recognized over a weighted-average period of approximately 12 months.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Cash and cash equivalents represent cash and short-term, highly liquid investments either in certificates of deposit, treasury bills, money market funds, or investment grade commercial paper issued by major corporations and financial institutions that generally have maturities of three months or less from the date of acquisition.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s accounts receivable are due from customers to whom we sell our products and services, distributors engaged in the distribution of our products and from GEHC. Credit is extended based on evaluation of a customer&#8217;s financial condition and, generally, collateral is not required. Accounts receivable are generally due 30 to 90 days from shipment and services provided and are stated at amounts due from customers net of allowances for doubtful accounts, returns, term discounts and other allowances. Accounts that are outstanding longer than the contractual payment terms are considered past due. Estimates are used in determining the allowance for doubtful accounts based on the Company&#8217;s historical collections experience, current trends, credit policy and a percentage of its accounts receivable by aging category. In determining these percentages, the Company reviews historical write-offs of their receivables. The Company also looks at the credit quality of their customer base as well as changes in their credit policies. The Company continuously monitors collections and payments from our customers, and writes off receivables when all efforts at collection have been exhausted. While credit losses have historically been within expectations and the provisions established, the Company cannot guarantee that it will continue to experience the same credit loss rates that they have in the past.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The changes in the Company&#8217;s allowance for doubtful accounts and commission adjustments are as follows:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 78%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Beginning Balance</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,872</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,159</font></td> <td style="width: 1%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 27pt; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Provision for losses on accounts receivable</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">460</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">157</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 27pt; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Direct write-offs, net of recoveries</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(268</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(212</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 27pt; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Commission adjustments</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(1,070</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">768</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Ending Balance</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt double; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,994</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt double; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,872</font></td> <td style="line-height: 107%">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We market our equipment and IT software solutions principally to hospitals, diagnostic imaging centers and physician private practices. We perform credit evaluations of our customers&#8217; financial condition and, as a result, believe that our receivable credit risk exposure is limited. For the years ended December 31, 2018 and 2017, no customer in our equipment or IT segment accounted for 10% or more of revenues or accounts receivable. In our professional sales service segment, 100% of our revenues and accounts receivable are with GEHC; however, we believe this risk is acceptable based on GEHC&#8217;s financial position.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company maintains cash balances in certain U.S. financial institutions, which, at times, may exceed the Federal Depository Insurance Corporation (&#8220;FDIC&#8221;) coverage of $250,000.&#160; The Company has not experienced any losses on these accounts and believes it is not subject to any significant credit risk on these accounts. In addition, the FDIC does not insure the Company&#8217;s foreign bank balances, which aggregated approximately $519,000 and $709,000 at December 31, 2018 and 2017, respectively.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company values inventories in the equipment segment at the lower of cost or net realizable value, with cost being determined on a first-in, first-out basis. The Company occasionally places EECP&#174; systems and other medical device products at various field locations for demonstration, training, evaluation, and other similar purposes at no charge. The cost of these products is transferred to property and equipment and is amortized over two to five years. The Company records the cost of refurbished components of EECP&#174; systems and critical components at cost plus the cost of refurbishment. The Company regularly reviews inventory quantities on hand, particularly raw materials and components, and records a provision for excess and slow moving inventory based primarily on existing and anticipated design and engineering changes to its products as well as forecasts of future product demand.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In our IT Segment, we purchase computer hardware and software for specific customer requirements and value such inventories using the specific identification method.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Property and equipment, including assets under capital lease, are stated at cost less accumulated depreciation and amortization. Major improvements are capitalized and minor replacements, maintenance and repairs are charged to expense as incurred. Upon retirement or disposal of assets, the cost and related accumulated depreciation are removed from the consolidated balance sheets. Depreciation is expensed over the estimated useful lives of the assets, which range from two to eight years, on a straight-line basis. Accelerated methods of depreciation are used for tax purposes. We amortize leasehold improvements over the useful life of the related leasehold improvement or the life of the related lease, whichever is less.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Goodwill represents the excess of cost over the fair value of net assets of businesses acquired. The Company accounts for goodwill under the guidance of the ASC Topic 350, &#8220;Intangibles: Goodwill and Other&#8221;. Goodwill acquired in a purchase business combination is not amortized, but instead tested for impairment, at least annually, in accordance with this guidance. The recoverability of goodwill is subject to an annual impairment test or whenever an event occurs or circumstances change that would more likely than not result in an impairment. The Company tests goodwill for impairment at the reporting unit level on an annual basis as of December 31 and between annual tests when an event occurs or circumstances change that could indicate that the asset might be impaired. In any year, the Company may elect to perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is in excess of its carrying value. If the Company cannot determine qualitatively that the fair value is in excess of the carrying value, or the Company decides to bypass the qualitative assessment, the Company proceeds to the quantitative goodwill impairment test, which compares the fair value of each reporting unit to its carrying amount, including goodwill. If the fair value of each reporting unit exceeds its carrying amount, goodwill is not considered to be impaired. If the carrying amount of a reporting unit exceeds its fair value, sn impairment loss is recognized for an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. No impairment loss was recorded as of December 31, 2018 and 2017.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Intangible assets consist of the value of customer contracts and relationships, patent and technology costs, and software. The cost of significant customer-related intangibles is amortized in proportion to estimated total related revenue; cost of other intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life, which range from&#160;five&#160;to&#160;ten&#160;years. The Company capitalizes internal use software development costs incurred during the application development stage. Costs related to preliminary project activities, training, data conversion, and post implementation activities are expensed as incurred. The Company capitalized $527,000 and $398,000 in software development costs for the years ended December 31, 2018 and 2017, respectively.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company reviews the recoverability of all long-lived assets, including the related useful lives, whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset might not be recoverable. If required, the Company compares the estimated fair value determined by either the undiscounted future net cash flows or appraised value to the related asset&#8217;s carrying value to determine whether there has been an impairment. If an asset is considered impaired, the asset is written down to fair value, which is based either on discounted cash flows or appraised values in the period the impairment becomes known. No assets were determined to be impaired as of December 31, 2018 and 2017.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Amounts billable under the agreement with GEHC in advance of customer acceptance of the equipment are recorded initially as deferred revenue, and commission revenue is subsequently recognized as customer acceptance of such equipment is reported to us by GEHC. Similarly, commissions payable to our sales force related to such billings are recorded as deferred commission expense when the associated deferred revenue is recorded. Commission expense is recognized when the corresponding commission revenue is recognized.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We record revenue on extended service contracts ratably over the term of the related service contracts. Under the provisions of ASC 606, we defer revenue related to EECP&#174; system sales for the fair value of installation and in-service training to the period when the services are rendered and for service obligations ratably over the service period, which is generally one year. (See Note I)</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Deferred income taxes are recognized for temporary differences between financial statement and income tax bases of assets and liabilities and loss carry-forwards for which income tax benefits are expected to be realized in future years. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized. In estimating future tax consequences, we generally consider all expected future events other than an enactment of changes in the tax laws or rates. Deferred tax assets are continually evaluated for the expected realization. To the extent our judgment regarding the realization of the deferred tax assets changes, an adjustment to the allowance is recorded, with an offsetting increase or decrease, as appropriate, in income tax expense. Such adjustments are recorded in the period in which our estimate as to the realization of the assets changed that it is &#8220;more likely than not&#8221; that all of the deferred tax assets will be realized. The &#8220;realization&#8221; standard is subjective and is based upon our estimate of a greater than 50% probability that the deferred tax asset can be realized.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company also complies with the provisions of ASC Topic 740, &#8220;Income Taxes&#8221;, which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by the relevant taxing authority based on the technical merits. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. Derecognition of a tax benefit previously recognized results in the Company recording a tax liability that reduces ending retained earnings. Based on its analysis, the Company has determined that it has not incurred any liability for unrecognized tax benefits as of December 31, 2018 and 2017. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2018 and 2017. Generally, the Company is no longer subject to income tax examinations by major domestic taxing authorities for years before 2015. According to the China tax regulatory framework, there is no statute of limitations on examination of tax filings by tax authorities. However, the general practice is going back five years. Management is currently unaware of any issues under review that could result in significant payments, accruals or material deviations from its position.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In countries in which the Company operates, and the functional currency is other than the U.S. dollar, assets and liabilities are translated using published exchange rates in effect at the consolidated balance sheet date.&#160;&#160;Equity accounts are translated at historical rates except for the changes in accumulated deficit during the year as the result of the income statement translation process. Revenues and expenses and cash flows are translated using a weighted average exchange rate for the period.&#160;&#160;Resulting translation adjustments are recorded as a component of accumulated other comprehensive loss on the accompanying consolidated balance sheets.&#160;&#160;For the years ended December 31, 2018 and 2017, other comprehensive loss includes (losses) gains of $(257,000) and $271,000, respectively, which were entirely from foreign currency translation.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Basic loss per common share is based on the weighted average number of common shares outstanding without consideration of potential common stock. Diluted earnings per common share is based on the weighted average number of common and potential dilutive common shares outstanding.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following table represents common stock equivalents that were excluded from the computation of diluted earnings per share for the years ended December 31, 2018 and 2017, because the effect of their inclusion would be anti-dilutive.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 78%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Restricted common stock grants</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; border-bottom: black 1pt double; line-height: 107%">&#160;</td> <td style="width: 8%; border-bottom: black 1pt double; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">2,388</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; border-bottom: black 1pt double; line-height: 107%">&#160;</td> <td style="width: 8%; border-bottom: black 1pt double; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,204</font></td> <td style="width: 1%; line-height: 107%">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Certain reclassifications have been made to prior year amounts to conform with the current year presentation.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company continually assesses any new accounting pronouncements to determine their applicability to the Company. Where it is determined that a new accounting pronouncement affects the Company&#8217;s financial reporting, the Company undertakes a study to determine the consequence of the change to its financial statements and assures that there are proper controls in place to ascertain that the Company&#8217;s consolidated financial statements properly reflect the change. New pronouncements assessed by the Company recently are discussed below:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Leases</u></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In February 2016, The FASB issued ASU 2016-02 (Topic 842), &#8220;Leases&#8221;. ASU 2016-02 requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors are required to recognize and measure leases at either the effective date (the &#8220;effective date method&#8221;) or the beginning of the earliest period presented (the &#8220;comparative method&#8221;) using a modified retrospective approach. Under the effective date method, the Company&#8217;s comparative period reporting is unchanged. In contrast, under the comparative method, the Company&#8217;s date of initial application is the beginning of the earliest comparative period presented, and the Topic 842 transition guidance is then applied to all comparative periods presented. Further, under either transition method, the standard includes certain practical expedients intended to ease the burden of adoption. The Company adopted this new standard January 1, 2019 using the effective date method and elected certain practical expedients allowing the Company not to reassess:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 108px; padding-left: 63pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">whether expired or existing contracts contain leases under the new definition of a lease;</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 108px; padding-left: 63pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">lease classification for expired or existing leases; and</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 108px; padding-left: 63pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#9679;</font></td> <td style="padding-top: 0.75pt; padding-right: 0.75pt; padding-left: 0.75pt; font: 11pt/107% Calibri, Helvetica, Sans-Serif; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">whether previously capitalized initial direct costs would qualify for capitalization under Topic 842.</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less. The Company estimates the adoption of this standard on January 1, 2019 will result in the addition to our consolidated balance sheet of approximately $1.1 million in right-of-use assets and lease liabilities. The standard is not expected to have a material effect on the Company&#8217;s consolidated statements of cash flows or operations.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Goodwill</u></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In January 2017, the FASB issued ASU 2017-04, which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit&#8217;s carrying amount over its fair value. The standard is effective for fiscal periods beginning after December 15, 2019. Early adoption is permitted for interim and annual goodwill impairment testing dates after January 1, 2017. The Company early adopted this standard in December 2018. The adoption did not have a material effect on the Company&#8217;s Consolidated Financial Statements.</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>As of December 31,</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>2018</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>2017</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 78%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Cash and cash equivalents</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">97</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">41</font></td> <td style="width: 1%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Total assets</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,641</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,599</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Total liabilities</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,662</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,745</font></td> <td style="line-height: 107%">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>Year ended December 31,</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>2018</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #DDDDDD"><b>2017</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 78%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Total net revenue</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">2,294</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">1,597</font></td> <td style="width: 1%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">Net income (loss)</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">111</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">(524</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif; color: #0D0D0D">)</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="10" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>&#160;(in thousands)</i></b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="10" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2018</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>prior U.S. GAAP</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Topic 606 impact</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>as reported</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">STATEMENT OF OPERATIONS</font></td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Revenues</font></td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 66%; text-indent: 0.25in; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales services</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="width: 2%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 27pt; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Total revenues</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Gross Profit</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">41,124</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">41,124</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Operating expenses</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Selling, general and administrative</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">44,083</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(121</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">43,962</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.5in; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Operating loss</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(3,845</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">121</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(3,724</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="10" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>&#160;(in thousands)</i></b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="10" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>As of December 31, 2018</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>prior U.S. GAAP</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Topic 606 impact</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>as reported</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">ASSETS</font></td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 66%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Accounts and other receivables, net</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">11,028</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">11,028</font></td> <td style="width: 2%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Deferred commission expense</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">2,577</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">8</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">2,585</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Other assets, net</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,252</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">190</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,442</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">LIABILITIES AND STOCKHOLDERS' EQUITY</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Deferred revenue - current portion</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">10,382</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">10,382</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Deferred revenue - long term</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">7,704</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">7,704</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Accumulated deficit</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(56,185</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">261</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(55,924</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="14" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2018</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="14" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2017</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Professional sales</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equipment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Professional sales</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equipment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>IT segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>service segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>IT segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>service segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Network services</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">40,254</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">40,254</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">38,882</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">38,882</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Software sales and support</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,974</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,974</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,699</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,699</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Commissions</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 14%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Medical equipment sales</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,151</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,151</font></td> <td style="width: 4%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">2,660</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">2,660</font></td> <td style="width: 4%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Medical equipment service</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">1,090</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">1,090</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">1,104</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">1,104</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">44,228</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,241</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">42,581</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,764</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">72,788</font></td> <td style="line-height: 107%">&#160;</td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="14" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2018</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="14" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31, 2017</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Professional sales</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equipment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Professional sales</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>&#160;Equipment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>IT segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>service segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>IT segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>service segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>segment</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 14%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Revenue recognized over time</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">39,340</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">658</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">39,998</font></td> <td style="width: 4%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">37,629</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">707</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 7%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">38,336</font></td> <td style="width: 4%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Revenue recognized at a point in time</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,888</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,583</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">33,982</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,952</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,057</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">34,452</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">44,228</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,241</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">42,581</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,764</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">72,788</font></td> <td style="line-height: 107%">&#160;</td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="14" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fiscal years of revenue recognition</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2019</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2020</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2021</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Thereafter</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 50%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Unfulfilled performance obligations</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">41,271</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">26,087</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">8,595</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">6,278</font></td> <td style="width: 3%; line-height: 107%">&#160;</td></tr> <tr> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 78%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Beginning Balance</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,872</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 8%; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,159</font></td> <td style="width: 1%; line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 27pt; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Provision for losses on accounts receivable</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">460</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">157</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 27pt; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Direct write-offs, net of recoveries</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(268</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(212</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 27pt; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Commission adjustments</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">(1,070</font></td> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">768</font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Ending Balance</font></td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt double; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">3,994</font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="border-bottom: black 1pt double; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,872</font></td> <td style="line-height: 107%">&#160;</td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td colspan="2" style="text-align: center; line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 78%; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">Restricted common stock grants</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; border-bottom: black 1pt double; line-height: 107%">&#160;</td> <td style="width: 8%; border-bottom: black 1pt double; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">2,388</font></td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; line-height: 107%">&#160;</td> <td style="width: 1%; border-bottom: black 1pt double; line-height: 107%">&#160;</td> <td style="width: 8%; border-bottom: black 1pt double; text-align: right; line-height: 107%"><font style="font: 8pt Times New Roman, Times, Serif">4,204</font></td> <td style="width: 1%; line-height: 107%">&#160;</td></tr> <tr> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td> <td style="line-height: 107%">&#160;</td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Revenues from external customers</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">IT</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">44,228</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">42,581</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales service</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">25,511</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">26,443</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,241</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,764</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total revenues</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">72,788</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Gross Profit</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">IT</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">18,379</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">17,623</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales service</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">20,165</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">20,630</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,580</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,478</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total gross profit</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">41,124</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">40,731</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Operating (loss) income</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">IT</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(3,748</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(3,375</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales service</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,958</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,954</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(812</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1,066</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Corporate</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,122</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,345</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total operating loss</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,724</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,832</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Depreciation and amortization</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">IT</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,968</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,822</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales service</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">187</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">194</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">367</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">410</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Corporate</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total depreciation and amortization</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,522</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,426</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Capital expenditures</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">IT</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,496</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,185</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales service</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">127</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">82</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">43</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Corporate</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">19</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total cash capital expenditures</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,586</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,374</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Identifiable Assets</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 76%; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">IT</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">28,785</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">28,320</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Professional sales service</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">12,193</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">15,658</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6,992</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">7,830</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Corporate</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,504</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,970</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total assets</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">50,474</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">56,778</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Domestic (United States)</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">71,279</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">70,719</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Non-domestic (foreign)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,701</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,069</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">73,980</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">72,788</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Trade receivables</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">15,016</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">18,056</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Due from employees</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">41</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Allowance for doubtful accounts and</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">commission adjustments</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,994</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(4,872</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accounts and other receivables, net</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,028</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13,225</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Raw materials</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">577</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">530</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Work in process</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">388</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">449</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Finished goods</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,018</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,376</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,983</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,355</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Office, laboratory and other equipment</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,885</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,953</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Equipment furnished for customer</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">or clinical uses</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8,167</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6,615</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Furniture and fixtures</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">127</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">131</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">12,179</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">9,699</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Less: accumulated depreciation and amortization</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(6,370</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(4,980</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;&#160;Property and equipment, net</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,809</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,719</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Beginning of year</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">17,471</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">17,280</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Foreign currency translation adjustment</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(162</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">191</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">End of year</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">17,309</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">17,471</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Customer-related</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Costs</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">5,831</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">5,831</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accumulated amortization</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,083</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2,501</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,748</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,330</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Patents and Technology</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Costs</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,363</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,331</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accumulated amortization</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,532</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,260</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">831</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,071</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Software</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Costs</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,346</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,819</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accumulated amortization</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,185</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(966</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,161</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">853</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">4,740</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">5,254</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred commission expense - noncurrent</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,978</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,867</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Trade receivables - noncurrent</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">630</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">968</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other, net of allowance for loss on loan receivable of</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;$412 at December 31, 2018 and 2017</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">459</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,012</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,067</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,847</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accrued compensation</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">648</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,181</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Accrued expenses - other</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,092</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2,207</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other liabilities</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,915</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,949</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,655</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,337</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Line of credit</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4,171</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3,393</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Unsecured term loan</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">145</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">153</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Note payable</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">14</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Notes payable - MedTech (net of $14 and $46 in</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">debt issue costs at December 31, 2018 and 2017)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4,786</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4,754</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Notes payable - related parties</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">827</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">345</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Capital lease obligations</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">588</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">208</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total debt and lease obligations</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">10,531</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8,853</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Less: current portion (including related parties)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(9,886</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,760</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">645</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">5,093</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Shares Available for Future Issuance</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Unvested shares</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Weighted Average Grant Date Fair Value</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 64%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Balance at December 31, 2016</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4,031,946</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">6,763,125</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.16</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Authorized</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Granted</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(975,000</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">975,000</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.12</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Vested</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(3,380,437</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.15</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Forfeited</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">153,730</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(153,730</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.16</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Balance at December 31, 2017</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,210,676</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">4,203,958</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.16</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Authorized</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Granted</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1,700,000</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,700,000</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.06</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Vested</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(3,125,317</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">0.14</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Forfeited</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">391,141</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(391,141</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.16</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Balance at December 31, 2018</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,901,817</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,387,500</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.12</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Domestic</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(3,967</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(4,161</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Foreign</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(152</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(244</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Loss before provision for income taxes</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(4,119</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(4,405</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>For the year ended</b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31, 2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>%</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>%</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Federal statutory rate</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">21.00</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">34.00</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">State income taxes</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(0.87</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1.34</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Change in valuation allowance</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;relating to operations</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(7.75</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(42.38</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Impact of federal statutory rate change</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(6.44</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Impact of federal statutory rate change on</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;&#160;valuation allowance</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">13.74</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Foreign tax rate differential</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(2.20</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">R&#38;D credit</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(0.22</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Nondeductible expenses</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(3.09</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(1.93</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Minimum tax credit refundable</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">3.51</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Other</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">0.28</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9.35</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3.04</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>December 31,</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred Tax Assets:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net operating loss carryforwards</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">12,402</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">10,623</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Amortization</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">304</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">262</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Stock-based compensation</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">16</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">49</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Allowance for doubtful accounts</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">88</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">36</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Reserve for obsolete inventory</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">239</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">235</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Tax credits</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">429</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">438</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Expense accruals</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">392</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">579</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Excess interest carryforwards</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">171</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred revenue</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">942</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">893</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 45pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total gross deferred taxes</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">14,983</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">13,115</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Valuation allowance</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(12,077</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(11,758</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 45pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net deferred tax assets</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">2,906</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,357</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred Tax Liabilities:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred commissions</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(245</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(224</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Goodwill</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(927</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(668</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Differences in timing of revenue recognition</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(124</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(112</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Depreciation</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,360</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(573</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 45pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred tax liabilities</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(2,656</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(1,577</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred tax assets (liabilities)</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">250</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(220</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Recorded as:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Non-current deferred tax assets </font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">374</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Non-current deferred tax liabilities</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(124</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(220</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred tax assets (liabilities)</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">250</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(220</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Valuation allowance, January 1,</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">11,758</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">15,695</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Change in valuation allowance</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">319</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(3,937</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Valuation allowance, December 31,</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">12,077</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">11,758</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> 3 1745000 1662000 1599000 1641000 73980000 72788000 2294000 1597000 70719000 71279000 2701000 2069000 44228000 25511000 4241000 42581000 26443000 3764000 7704000 7704000 0 10382000 10382000 0 4872000 3994000 4159000 -1070000 768000 268000 212000 460000 157000 2388 4204 -257000 271000 398000 527000 709000 519000 207000 0.06 0.12 0.12 0.06 385000 467000 1700000 975000 2522000 2426000 1968000 187000 367000 0 1822000 194000 410000 0 0.34 0.36 0.66 0.67 18056000 15016000 41000 6000 530000 577000 449000 388000 1376000 1018000 746000 636000 9699000 12179000 8167000 127000 6615000 3885000 131000 2953000 1489000 1290000 -162000 191000 1185000 1532000 966000 3083000 1260000 2501000 2346000 2363000 1819000 5831000 2331000 5831000 328000 562000 858000 934000 1017000 1033000 1136000 1867000 1978000 968000 630000 1012000 459000 43000 14779000 8000 4960000 687000 15000 20000 705000 45000 11159000 5000 9986000 628000 31000 20000 661000 1181000 648000 2207000 2092000 1949000 2915000 8853000 10531000 588000 4171000 153000 208000 145000 3393000 14000 4786000 827000 0 4754000 345000 5093000 645000 3760000 9886000 146000 231000 588000 17000 85000 690000 146000 120000 47000 10545000 588000 9957000 46000 46000 0 112000 112000 0 126000 126000 0 361000 116000 245000 9900000 188000 9712000 4031946 3210676 1901817 975000 1700000 0 0 153730 391141 6763125 4203958 2387500 153730 391141 3380437 3125317 975000 1700000 0.16 0.16 0.12 0.16 0.16 0.15 0.14 -3967000 -4161000 -152000 -244000 98000 -82000 35000 13000 63000 59000 0 -154000 0 0 -107000 48000 -376000 168000 0.0935 -0.0304 0.21 0.34 -0.0087 -0.0134 -0.0775 -0.4238 0.00 -0.0644 0.00 0.1374 0.00 -0.0220 -0.0309 -0.0193 0.00 0.0351 0.0028 0.00 -0.0022 0.00 579000 392000 438000 429000 235000 239000 36000 88000 49000 16000 262000 304000 10623000 12402000 1357000 2906000 11758000 12077000 15695000 13115000 14983000 893000 942000 0 171000 220000 -250000 1577000 2656000 573000 1360000 112000 124000 668000 927000 224000 245000 0 374000 -319000 3937000 46000000 2037-12-31 2020-12-31 55000 55000 129000 53000 76000 425000 195000 230000 669000 289000 380000 816000 770000 96000 116000 41271000 26087000 8595000 6278000 1278000 537000 741000 23066000 18086000 19404000 15540000 10382000 7526000 7704000 173812 -10308 177417 175742 -10308 -10308 313000 514000 2000 311000 512000 2000 1675 1930 2000 5000 2000 5000 139000 139000 0 375000 <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Current provision (benefit)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Federal</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(154</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">State</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">63</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">59</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Foreign</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">35</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">13</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total current provision (benefit)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">98</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(82</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred provision (benefit)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Federal</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(376</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">168</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">State</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(107</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">48</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Foreign</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total deferred provision (benefit)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(483</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">216</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total income tax provision (benefit)</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(385</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">134</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Effective income tax rate</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: #4F81BD 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: #4F81BD 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9.35</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: #4F81BD 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: #4F81BD 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-3.04</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">%</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">For the years ending December 31,&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><i></i></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><i>(in thousands)</i>&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Vehicles</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Facilities</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 64%; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2019</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">289</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">380</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">669</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2020</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">195</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">230</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">425</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2021</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">53</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">76</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">129</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2022</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">55</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">55</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">537</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">741</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">1,278</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">Years ending December 31,</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2019</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">1,017</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2020</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">934</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2021</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">858</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2022</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">562</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2023</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">328</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">3,699</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Year ended December 31,</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 75%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred revenue at beginning of year</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">23,066</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">19,404</font></td> <td style="width: 2%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Net additions:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred extended service contracts</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">687</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">705</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred in-service and training</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">8</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">20</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred service arrangements</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">15</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">43</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred commission revenues</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">4,960</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">14,779</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Recognized as revenue:</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred extended service contracts</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(628</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(661</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred in-service and training</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(5</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(20</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred service arrangements</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(31</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(45</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred commission revenues</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(9,986</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(11,159</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Deferred revenue at end of year</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">18,086</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">23,066</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 27pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Less: current portion</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">10,382</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">15,540</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Long-term deferred revenue at end of year</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,704</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">7,526</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif">Years ending December 31,</font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; border-bottom: Black 1pt solid"><font style="font: 8pt Times New Roman, Times, Serif"><b><i>&#160;(in thousands)</i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 88%; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2019</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">231</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2020</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">146</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2021</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">146</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2022</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">120</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2023</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">47</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">690</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Portion representing interest</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">(85</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Portion representing executory costs</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">(17</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-indent: 0.25in; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">Total capital lease obligations</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">588</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 8pt Times New Roman, Times, Serif"> <td colspan="4" style="vertical-align: bottom; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b><i></i></b></font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 8pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom"><b><i>&#160;(in&#160;thousands)</i></b></td> <td style="font: 8pt Times New Roman, Times, Serif">&#160;</td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-bottom: black 0.75pt solid"><font style="font: 8pt Times New Roman, Times, Serif"><b>Years ending December 31,</b></font></p></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Notes payable</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Capital leases</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="width: 64%; text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2019</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">9,712</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">188</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 9%; text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">9,900</font></td> <td style="width: 1%; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2020</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">245</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">116</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">361</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2021</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">126</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">126</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2022</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">112</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: right; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">112</font></td> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="text-align: justify; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">2023</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">-</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">46</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">46</font></td> <td style="padding-bottom: 1.5pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; font: 8pt Times New Roman, Times, Serif"> <td style="font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">9,957</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">588</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><font style="font: 8pt Times New Roman, Times, Serif">10,545</font></td> <td style="padding-bottom: 3pt; font: 8pt Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> 387000 915000 60000 0 855000 387000 103000 250000 -483000 216000 <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Sales representation agreement</i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In December 2017, the Company concluded an amendment of the GEHC Agreement with GEHC, originally signed on May 19, 2010. The amendment extends the term of the original agreement, which began on July 1, 2010 and was previously extended in 2012 and 2015, through December 31, 2022, subject to early termination under certain circumstances, making it the longest extension thus far with a remaining term of five years from December 31, 2017. Under the agreement, VasoHealthcare is the exclusive representative for the sale of select GE Healthcare diagnostic imaging products to specific market segments/accounts in the 48 contiguous states of the United States and the District of Columbia. The circumstances under which early termination of the agreement may occur include: not materially achieving certain sales goals, not maintaining a minimum number of sales representatives, and not meeting various legal and GEHC policy requirements. The Company did not meet the contractual sales goals in 2018. Under the terms of the agreement, the Company is required to lease dedicated computer equipment from GEHC for connectivity to their network and share certain GEHC sales costs.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i>Facility Leases</i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company leases a facility in Plainview, New York, under a seven-year agreement expiring in September 2022. The Company also leases offices in New York City under a three-year agreement expiring May 2020. NetWolves houses its operations in leased facilities in Tampa, Florida, under an agreement expiring in May 2020. VHC-IT leases a facility in Nashville, Tennessee pursuant to a one-year lease expiring April 2019. The Company is evaluating possible renewal options and believes sufficient space is available at similar cost in Nashville. FGE leases facilities in Wuxi, China, pursuant to leases expiring in September 2019, August 2020, September 2020, and December 2020. Such leases are renewable upon expiration.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i>Vehicle Lease Agreement</i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company provides leased vehicles to the sales team of its professional sales service segment under a closed-end master lease agreement. Vehicles obtained under the terms of the agreement are leased generally for a 36-month term, and payments are fixed for each year of the agreement, subject to readjustment at the beginning of the second and third year.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Future rental payments under these operating leases aggregate approximately as follows:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">For the years ending December 31,&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr> <td style="vertical-align: bottom">&#160;</td> <td colspan="3" style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt"><i>(in thousands)</i></font></td> <td colspan="9">&#160;</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>Vehicles</b></font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>Facilities</b></font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt"><b>Total</b></font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="width: 64%; text-align: justify"><font style="font-size: 8pt">2019</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">289</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">380</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">669</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">2020</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 8pt">195</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 8pt">230</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 8pt">425</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">2021</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 8pt">53</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 8pt">76</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 8pt">129</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">2022</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">55</font></td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: black 1pt solid">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">55</font></td> <td style="padding-bottom: 1.5pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Total</font></td> <td style="padding-bottom: 3pt">&#160;</td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">537</font></td> <td style="padding-bottom: 3pt">&#160;</td> <td style="padding-bottom: 3pt">&#160;</td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">741</font></td> <td style="padding-bottom: 3pt">&#160;</td> <td style="padding-bottom: 3pt">&#160;</td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,278</font></td> <td style="padding-bottom: 3pt">&#160;</td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Rental expense for all operating leases totaled approximately $816,000 and $770,000 for the years ended December 31, 2018 and 2017, respectively.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i>Employment Agreements</i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On March 21, 2011, the Company entered into an Employment Agreement with its President and Chief Executive Officer, Dr. Jun Ma, for a three-year term ended on March 14, 2014. The agreement was amended in 2013 and again in 2015 to provide for a continuing three-year term, unless earlier terminated by the Company, but in no event can extend beyond March 14, 2021. The Employment Agreement currently provides for annual compensation of $375,000. Dr. Ma shall be eligible to receive a bonus for each fiscal year thereafter during the employment term. The amount and the occasion for payment of such bonus, if any, shall be at the discretion of the Board of Directors. Dr. Ma shall also be eligible for an award under any long-term incentive compensation plan and grants of options and awards of shares of the Company&#8217;s stock, as determined at the Board of Directors&#8217; discretion. The Employment Agreement further provides for reimbursement of certain expenses, and certain severance benefits in the event of termination prior to the expiration date of the Employment Agreement.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On June 1, 2015, the Company entered into an Employment Agreement with Mr. Peter Castle to be its Chief Operating Officer. The agreement provides for a three-year term ending on June 1, 2018 and shall extend for additional one-year periods annually commencing June 1, 2018, unless earlier terminated by the Company, but in no event can extend beyond June 1, 2021. The Employment Agreement currently provides for annual compensation of $350,000. Mr. Castle shall be eligible to receive a bonus for each fiscal year thereafter during the employment term. The amount and the occasion for payment of such bonus, if any, shall be at the discretion of the Board of Directors. Mr. Castle shall also be eligible for an award under any long-term incentive compensation plan and grants of options and awards of shares of the Company&#8217;s stock, as determined at the Board of Directors&#8217; discretion. The Employment Agreement further provides for reimbursement of certain expenses, and certain severance benefits in the event of termination prior to the expiration date of the Employment Agreement.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i>Licensing and Support Service Agreement</i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In 2010, NetWolves executed a licensing and support service agreement for the upgrade of its billing system. The agreement initially was set to expire in December 2014; however, it was extended for a period of two years in June 2013 with an automatic one-year renewal thereafter. In December 2017, the agreement was renewed for an additional three years, expiring December 2020. The agreement provides for monthly recurring charges based on a percentage of billed revenues using these services, which charges aggregated approximately $331,000 and $400,000 for the years ended December 31, 2018 and 2017, respectively.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i>Letters of Credit</i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">At December 31, 2018 we are contingently liable under two standby letters of credit approximating $270,500 in total. The letters of credit are being maintained as security for payments to two vendors.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><i>Litigation</i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company is currently, and has been in the past, a party to various routine legal proceedings, primarily employee related matters, incident to the ordinary course of business. The Company believes that the outcome of all such pending legal proceedings in the aggregate is unlikely to have a material adverse effect on the business or consolidated financial condition of the Company.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Foreign operations</i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">During the years ended December 31, 2018 and 2017, the Company had and continues to have operations in China. Operating transactions in China are denominated in the Chinese currency called RMB, which is not freely convertible into foreign currencies. Operating internationally involves additional risks relating to such things as currency exchange rates, different legal and regulatory environments, political, economic risks relating to the stability or predictability of foreign governments, differences in the manner in which different cultures do business, difficulties in staffing and managing foreign operations, differences in financial reporting, operating difficulties, and other factors.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Commercial law is still developing in China and there are limited legal precedents to follow in commercial transactions. There are many tax jurisdictions each of which may have changing tax laws. Applicable taxes include value added taxes (&#8220;VAT&#8221;), Enterprise Income Tax, and social (payroll) taxes. Regulations are often unclear. Tax declarations (reports) are subject to review and taxing authorities may impose fines, penalties and interest. These facts create risks in China.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Vaso Corporation was incorporated in Delaware in July 1987. For most of its history, the Company was a single-product company designing, manufacturing, marketing and servicing its proprietary Enhanced External Counterpulsaion, or EECP&#174;, therapy systems, mainly for the treatment of angina. In 2010 it began to diversify its business operations. The Company changed its name to Vaso Corporation in 2016 to more accurately reflect the diversified nature of its business mixture, and continues to use the original name VasoMedical for its proprietary medical device subsidiary. Unless the context requires otherwise, all references to &#8220;we&#8221;, &#8220;our&#8221;, &#8220;us&#8221;, &#8220;Company&#8221;, &#8220;registrant&#8221;, &#8220;Vaso&#8221; or &#8220;management&#8221; refer to Vaso Corporation and its subsidiaries.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Overview</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Vaso Corporation principally operates in three distinct business segments in the healthcare equipment and information technology industries. We manage and evaluate our operations, and report our financial results, through these three business segments.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 12pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#9679;</font></td> <td style="padding: 0.75pt; font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font-size: 8pt">IT segment, operating through a wholly-owned subsidiary VasoTechnology, Inc., primarily focuses on healthcare IT and managed network technology services;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 12pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#9679;</font></td> <td style="padding: 0.75pt; font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font-size: 8pt">Professional sales service segment, operating through a wholly-owned subsidiary Vaso Diagnostics, Inc. d/b/a VasoHealthcare, primarily focuses on the sale of healthcare capital equipment for General Electric Healthcare (&#8220;GEHC&#8221;) into the health provider middle market; and</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" style="width: 100%"> <tr> <td style="vertical-align: top; width: 72px; padding-left: 0.5in; font: 12pt Times New Roman, Times, Serif"><font style="font-size: 8pt">&#9679;</font></td> <td style="padding: 0.75pt; font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font-size: 8pt">Equipment segment, primarily focuses on the design, manufacture, sale and service of proprietary medical devices, operating through a wholly-owned subsidiary VasoMedical, Inc., which in turn operates through Vasomedical Solutions, Inc. for domestic business and Vasomedical Global Corp. for international business, respectively.</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>VasoTechnology</i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">VasoTechnology, Inc.<i>&#160;</i>was formed in May 2015, at the time the Company acquired all of the assets of NetWolves, LLC and its affiliates, including the membership interests in NetWolves Network Services, LLC (collectively, &#8220;NetWolves&#8221;). It currently consists of a managed network and security service division, NetWolves, and a healthcare IT application VAR (value added reseller) division, VasoHealthcare IT.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In June 2014, the Company began its IT segment business by executing the Value Added Reseller Agreement (&#8220;VAR Agreement&#8221;) with GEHC to become a national value added reseller of GEHC Digital&#8217;s software solutions such as Picture Archiving and Communication System (&#8220;PACS&#8221;), Radiology Information System (&#8220;RIS&#8221;), and related services, including implementation, training, management and support. This multiyear VAR Agreement focuses primarily on existing customer segments currently served by VasoHealthcare on behalf of GEHC. A new wholly owned subsidiary, VasoHealthcare IT Corp. (&#8220;VHC IT&#8221;), was formed to conduct the healthcare IT business.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In May 2015, the Company further expanded its IT segment business by acquiring NetWolves. NetWolves designs and delivers multi-network and multi-technology solutions as a managed network provider, and provides a complete single-source solution that includes design, network redundancy, application device management, real-time network monitoring, reporting and support systems as a comprehensive solution.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>VasoHealthcare</i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In May 2010, the Company launched its Professional Sales Service business through a wholly-owned subsidiary Vaso Diagnostics, Inc. d/b/a VasoHealthcare, which was appointed the exclusive representative for the sale of select GEHC diagnostic imaging equipment to specific market segments in the 48 contiguous states of the United States and the District of Columbia. The original agreement (&#8220;GEHC Agreement&#8221;) has been extended several times and currently expires December 31, 2022, subject to earlier termination under certain circumstances.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>VasoMedical</i></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The proprietary medical equipment business now all under VasoMedical traces back to 1995 when the Company began the external counterpulsation technology in the United States. Vasomedical Global was formed in 2011 to combine and coordinate the various international operations including design, development, manufacturing, and sales of medical devices, while domestic activities are under Vasomedical Solutions.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s Equipment business also has been significantly expanded from the original EECP&#174;-only operations. In September 2011, the Company acquired FGE, a British Virgin Islands company, which owns or controls two Chinese operating companies - Life Enhancement Technology Ltd. (&#8220;LET&#8221;) based in Foshan, China, and Biox Instruments Co. Ltd. (&#8220;Biox&#8221;) based in Wuxi, China, respectively - to expand its technical and manufacturing capabilities and to enhance its distribution network, technology, and product portfolio. Biox is a variable interest entity (&#8220;VIE&#8221;) controlled by FGE through certain contracts and an option to acquire all the shares of Biox. In August 2014, the Company acquired all of the outstanding shares of Genwell Instruments Co. Ltd. (&#8220;Genwell&#8221;), located in Wuxi, China. Genwell was formed in China in 2010 with the assistance of a government grant to develop the MobiCare&#8482; wireless multi-parameter patient monitoring system and holds intellectual property rights for this system. As a result, the Company has now expanded its equipment products portfolio to include Biox&#8482; series ambulatory patient monitoring systems, ARCS&#8482; series software for ECG and blood pressure analysis, and the MobiCare&#8482; patient monitoring device. In 2017, as an effort to further reduce engineering and production cost of its EECP&#174; products, the Company moved the operations of LET from Foshan, China to Biox in Wuxi, China, and closed LET in 2018.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In April 2014, the Company entered into a cooperation agreement with Chongqing PSK-Health Sci-Tech Development Co., Ltd. (&#8220;PSK&#8221;) of Chongqing, China, the leading manufacturer of external counter pulsation, or ECP, therapy systems in China, to form a joint venture company, VSK Medical Limited (&#8220;VSK&#8221;), a Cayman Islands company, for the global marketing, sale and advancement of ECP therapy technology. The Company owned 49.9% of VSK, which commenced operations in January 2015. In March 2018, the Company terminated the cooperation agreement with PSK and sold its shares in VSK to PSK (see Note K).</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Going concern assessment</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We have incurred net losses from operations for the years ended December 31, 2018 and 2017, and we maintain lines of credit from a lending institution and these lines of credit will require further extensions after their current June 28, 2019 maturity date. These events raise substantial doubt about our ability to continue as a going concern. Our ability to continue operating as a going concern is dependent upon achieving profitability, extending the maturity date of our existing lines of credit, or through additional debt or equity financing. Achieving profitability is largely dependent on our ability to reduce operating costs and to maintain or increase our current revenue. While we believe we will continue to maintain or increase our gross revenue and are in the process of reducing operating costs, and while historically we have received extensions of the maturity dates of our lines of credit, failure to achieve these objectives could cast doubt on our ability to continue as a going concern.</p> EX-101.SCH 8 vaso-20181231.xsd XBRL TAXONOMY EXTENSION SCHEMA 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - CONSOLIDATED BALANCE SHEETS link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - DESCRIPTION OF BUSINESS AND GOING CONCERN ASSESSMENT link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - SEGMENT REPORTING link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - ACCOUNTS AND OTHER RECEIVABLES link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - INVENTORIES, NET link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - PROPERTY AND EQUIPMENT link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - GOODWILL AND OTHER INTANGIBLES link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - OTHER ASSETS link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - DEFERRED REVENUE link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - ACCRUED EXPENSES AND OTHER LIABILITIES link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - RELATED-PARTY TRANSACTIONS link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - STOCKHOLDERS' EQUITY link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - OPTION PLANS link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - INCOME TAXES link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - COMMITMENTS AND CONTINGENCIES link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - 401(k) PLANS link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - SUBSEQUENT EVENTS link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - SEGMENT REPORTING (Tables) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - ACCOUNTS AND OTHER RECEIVABLES (Tables) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - INVENTORIES, NET (Tables) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - PROPERTY AND EQUIPMENT (Tables) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - GOODWILL AND OTHER INTANGIBLES (Tables) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - OTHER ASSETS (Tables) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - DEFERRED REVENUE (Tables) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - ACCRUED EXPENSES AND OTHER LIABILITIES (Tables) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS (Tables) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - OPTION PLANS (Tables) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - INCOME TAXES (Tables) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - COMMITMENTS AND CONTINGENCIES (Tables) link:presentationLink link:calculationLink link:definitionLink 00000039 - Disclosure - DESCRIPTION OF BUSINESS AND GOING CONCERN ASSESSMENT (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000040 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) link:presentationLink link:calculationLink link:definitionLink 00000041 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000042 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000043 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) link:presentationLink link:calculationLink link:definitionLink 00000044 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) link:presentationLink link:calculationLink link:definitionLink 00000045 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) link:presentationLink link:calculationLink link:definitionLink 00000046 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 6) link:presentationLink link:calculationLink link:definitionLink 00000047 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000048 - Disclosure - SEGMENT REPORTING (Details) link:presentationLink link:calculationLink link:definitionLink 00000049 - Disclosure - SEGMENT REPORTING (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000050 - Disclosure - SEGMENT REPORTING (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000051 - Disclosure - ACCOUNTS AND OTHER RECEIVABLES (Details) link:presentationLink link:calculationLink link:definitionLink 00000052 - Disclosure - INVENTORIES, NET (Details) link:presentationLink link:calculationLink link:definitionLink 00000053 - Disclosure - INVENTORIES, NET (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000054 - Disclosure - PROPERTY AND EQUIPMENT (Details) link:presentationLink link:calculationLink link:definitionLink 00000055 - Disclosure - PROPERTY AND EQUIPMENT (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000056 - Disclosure - GOODWILL AND OTHER INTANGIBLES (Details) link:presentationLink link:calculationLink link:definitionLink 00000057 - Disclosure - GOODWILL AND OTHER INTANGIBLES (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000058 - Disclosure - GOODWILL AND OTHER INTANGIBLES (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000059 - Disclosure - GOODWILL AND OTHER INTANGIBLES (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000060 - Disclosure - OTHER ASSETS (Details) link:presentationLink link:calculationLink link:definitionLink 00000061 - Disclosure - DEFERRED REVENUE (Details) link:presentationLink link:calculationLink link:definitionLink 00000062 - Disclosure - ACCRUED EXPENSES AND OTHER LIABILITIES (Details) link:presentationLink link:calculationLink link:definitionLink 00000063 - Disclosure - DEBT AND LEASE OBLIGATIONS (Details) link:presentationLink link:calculationLink link:definitionLink 00000064 - Disclosure - DEBT AND LEASE OBLIGATIONS (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000065 - Disclosure - DEBT AND LEASE OBLIGATIONS (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000066 - Disclosure - OPTION PLANS (Details) link:presentationLink link:calculationLink link:definitionLink 00000067 - Disclosure - INCOME TAXES (Details) link:presentationLink link:calculationLink link:definitionLink 00000068 - Disclosure - INCOME TAXES (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000069 - Disclosure - INCOME TAXES (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000070 - Disclosure - INCOME TAXES (Details 3) link:presentationLink link:calculationLink link:definitionLink 00000071 - Disclosure - INCOME TAXES (Details 4) link:presentationLink link:calculationLink link:definitionLink 00000072 - Disclosure - INCOME TAXES (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000073 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details) link:presentationLink link:calculationLink link:definitionLink 00000074 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000075 - Disclosure - 401(k) PLANS (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 9 vaso-20181231_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 10 vaso-20181231_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 11 vaso-20181231_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Antidilutive Securities [Axis] Restricted Stock [Member] Variable Interest Entities [Axis] Biox [Member] Long-term Debt, Type [Axis] Capital Lease Obligations [Member] Line of Credit [Member] Unsecured Debt [Member] Deferred Revenue Arrangement Type [Axis] Service Arrangements [Member] Commission Revenues [Member] In Service and Training [Member] Extended Service Contracts [Member] Range [Axis] Maximum [Member] Finite-Lived Intangible Assets by Major Class [Axis] Software [Member] Patents and Technology [Member] Customer-Related [Member] Minimum [Member] Loans Payable [Member] Equity Components [Axis] Retained Earnings [Member] Common Stock [Member] Accumulated Other Comprehensive Income (Loss) [Member] Additional Paid-in Capital [Member] Property, Plant and Equipment, Type [Axis] Vehicles [Member] Facilities [Member] Equipment furnished for customer or clinical uses [Member] Furniture and Fixtures [Member] Office, Laboratory and Other Equipment [Member] Award Type [Axis] Geographical [Axis] UNITED STATES Non-US [Member] Treasury Stock [Member] Segments [Axis] Information Technology Segment [Member] Professional Sales Service Segment [Member] Equipment Segment [Member] Corporate [Member] Customer [Axis] GE Healthcare [Member] Concentration Risk Benchmark [Axis] Sales Revenue, Net [Member] Accounts and Other Receivables [Member] Debt Instrument [Axis] Note Payable [Member] Notes Payable-MedTechnology Investments LLC [Member] Notes Payable-Related Parties [Member] Equipment sales and services Professional sales services Managed IT systems and services Initial Application Period Cumulative Effect Transition [Axis] Prior U.S. GAAP [Member] Topic 606 Impact [Member] Products and Services [Axis] Network Services [Member] Software Sales and Support [Member] Commissions [Member] Medical Equipment Sales [Member] Medical Equipment Service [Member] Timing of Transfer of Good or Service [Axis] Revenue Recognized over Time [Member] Revenue Recognized at a Point in Time [Member] Revenue, Remaining Performance Obligation [Axis] 2019 2020 2021 Thereafter Document and Entity Information [Abstract] Entity Registrant Name Entity Central Index Key Current Fiscal Year End Date Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Current Reporting Status Entity Filer Category Entity Emerging Growth Company Entity Small Business Entity Shell Company Entity Public Float Entity Common Stock, Shares Outstanding Document Fiscal Year Focus Document Fiscal Period Focus Document Type Amendment Flag Document Period End Date Statement of Financial Position [Abstract] ASSETS CURRENT ASSETS Cash and cash equivalents Accounts and other receivables, net of an allowance for doubtful accounts and commission adjustments of $3,994 at December 31, 2018 and $4,872 at December 31, 2017 Receivables due from related parties Inventories, net Deferred commission expense Prepaid expenses and other current assets Total current assets PROPERTY AND EQUIPMENT, net of accumulated depreciation of $6,370 at December 31, 2018 and $4,980 at December 31, 2017 GOODWILL INTANGIBLES, net OTHER ASSETS, net DEFERRED TAX ASSETS, net Total Assets LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable Accrued commissions Accrued expenses and other liabilities Sales tax payable Deferred revenue - current portion Notes payable and capital lease obligations - current portion Notes payable - related parties - current portion Due to related party Total current liabilities LONG-TERM LIABILITIES Notes payable and capital lease obligations Notes payable - related parties, net of current portion Deferred revenue, net of current portion Deferred tax liability Other long-term liabilities Total long-term liabilities COMMITMENTS AND CONTINGENCIES (NOTE P) STOCKHOLDERS' EQUITY Preferred stock, $.01 par value; 1,000,000 shares authorized; nil shares issued and outstanding at December 31, 2018 and 2017 Common stock, $.001 par value; 250,000,000 shares authorized; 177,417,287 and 175,741,970 shares issued at December 31, 2018 and 2017, respectively; 167,109,200 and 165,433,883 shares outstanding at December 31, 2018 and 2017, respectively Additional paid-in capital Accumulated deficit Accumulated other comprehensive loss Treasury stock, at cost, 10,308,087 shares at December 31, 2018 and 2017 Total stockholders' equity Total liabilities and stockholders' equity Accounts and other receivables, allowance for doubtful accounts and commission adjustments PROPERTY AND EQUIPMENT, accumulated depreciation Preferred stock, par value Preferred stock, shares authorized Preferred stock, shares issued Preferred stock, shares outstanding Common stock, par value Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Treasury stock, at cost Statement [Table] Statement [Line Items] Revenues Total revenues Cost of revenues Total cost of revenues Gross profit Operating expenses Selling, general and administrative Research and development Total operating expenses Operating (loss) income Other income (expense) Interest and financing costs Interest and other income, net Gain on sale of investment in VSK Total other expense, net Loss before income taxes Income tax benefit (expense) Net loss Other comprehensive loss Foreign currency translation (loss) gain Comprehensive loss (Loss) income per common share - basic and diluted (in dollars per share) Weighted average common shares outstanding - basic and diluted Balance Balance (in shares) Share-based compensation Share-based compensation (in shares) Shares issued to settle liability Shares issued to settle liability (in shares) Adoption of new accounting standard Shares not issued for employee tax liability Foreign currency translation gain (loss) Net (loss) income Balance Balance (in shares) Statement of Cash Flows [Abstract] Cash flows from operating activities Net loss Adjustments to reconcile net loss to net cash (used in) provided by operating activities Depreciation and amortization Deferred income taxes Loss from interest in joint venture Gain on sale of investment in VSK Loss on disposal of property and equipment Provision for doubtful accounts and commission adjustments Amortization of debt issue costs Share-based compensation Provision for allowance for loss on loan receivable Changes in operating assets and liabilities: Accounts and other receivables Receivables due from related parties Inventories, net Deferred commission expense Prepaid expenses and other current assets Other assets, net Accounts payable Accrued commissions Accrued expenses and other liabilities Sales tax payable Deferred revenue Deferred tax liability Other long-term liabilities Net cash (used in) provided by operating activities Cash flows from investing activities Purchases of equipment and software Proceeds from sale of investment in VSK Net cash used in investing activities Cash flows from financing activities Net borrowings (repayments) on revolving line of credit Payroll taxes paid by withholding shares Proceeds from notes payable Repayment of notes payable and capital lease obligations Proceeds from (payments on) notes payable - related parties Net cash provided by (used in) financing activities Effect of exchange rate differences on cash and cash equivalents NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS Cash and cash equivalents - beginning of year Cash and cash equivalents - end of year SUPPLEMENTAL DISCLOSURE OF CASH INFORMATION Interest paid Income taxes paid SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES Inventories transferred to property and equipment, net Equipment acquired through capital lease Liability settled through issuance of common stock Organization, Consolidation and Presentation of Financial Statements [Abstract] DESCRIPTION OF BUSINESS AND GOING CONCERN ASSESSMENT Accounting Policies [Abstract] SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Segment Reporting [Abstract] SEGMENT REPORTING Receivables [Abstract] ACCOUNTS AND OTHER RECEIVABLES Inventory Disclosure [Abstract] INVENTORIES, NET Property, Plant and Equipment [Abstract] PROPERTY AND EQUIPMENT Goodwill and Intangible Assets Disclosure [Abstract] GOODWILL AND OTHER INTANGIBLES Other Assets [Abstract] OTHER ASSETS Deferred Revenue Disclosure [Abstract] DEFERRED REVENUE Payables and Accruals [Abstract] ACCRUED EXPENSES AND OTHER LIABILITIES Related Party Transactions [Abstract] RELATED-PARTY TRANSACTIONS Debt and Capital Lease Obligations [Abstract] NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS Equity [Abstract] STOCKHOLDERS' EQUITY Disclosure of Compensation Related Costs, Share-based Payments [Abstract] OPTION PLANS Income Tax Disclosure [Abstract] INCOME TAXES Commitments and Contingencies Disclosure [Abstract] COMMITMENTS AND CONTINGENCIES Retirement Benefits [Abstract] 401(k) PLANS Subsequent Events [Abstract] SUBSEQUENT EVENT Principles of Consolidation Variable Interest Entity Use of Estimates Revenue Recognition Shipping and Handling Costs Research and Development Share-Based Compensation Cash and Cash Equivalents Accounts Receivable, net Concentrations of Credit Risk Inventories, net Property and Equipment Goodwill and Intangible Assets Impairment of Long-Lived Assets Deferred Revenue Income Taxes Foreign Currency Translation (Gain) Loss and Comprehensive (Loss) Income Net Loss Per Common Share Reclassifications Recently Issued Accounting Pronouncements Schedule of Variable Interest Entities Impact of Adopting Topic 606 Disaggregation of Revenue Transaction Price Allocated to Remaining Performance Obligations Changes in Allowance for Doubtful Accounts and Commission Adjustments Reconciliation of Basic to Diluted Shares Used in Earnings Per Share Calculation Common Stock Equivalents Excluded from Computation of Diluted Earnings Per Share Summary Financial Information for Segments Revenues by Geographic Areas Accounts and Other Receivables Inventories, Net of Reserves Property and Equipment Schedule of Changes in Carrying Amount of Goodwill Schedule of Other Intangible Assets Amortization of Intangibles Schedule of Other Assets Changes in Deferred Revenues Accrued Expenses and Other Liabilities Schedule of Debt and Lease Obligations Schedule of Future Minimum Lease Payments Schedule of Amounts Payable by the Company Under Various Debt and Capital Lease Obligations Stock Option Activity under All the Plans Schedule of Non-vested Restricted Shares Geographical Breakdown of Income before Provision for Income Taxes Provision for Income Taxes Reconciliation of Effective Income Tax Rate to Federal Statutory Rate Deferred Tax Assets and Liabilities Valuation Allowance Activity Future Rental Payments under Operating Leases Number of business segments Total assets Total liabilities Total net revenue Gross Profit Operating loss Accounts and other receivables, net Other assets, net Deferred revenue - current portion Deferred revenue - long term Product and Service [Axis] Revenue RevenueRemainingPerformanceObligationAxis [Axis] Unfulfilled performance obligations Beginning Balance Provision for losses on accounts receivable Direct write-offs, net of recoveries Commission adjustments Ending Balance Common stock equivalents excluded from computation of diluted earnings per share Investment in joint venture Restricted shares of common stock granted Fair value of shares vested Weighted average grant date fair value Share-based compensation expense Unrecognized expense related to existing share-based arrangements FDIC uninsured amount Capitalized software development costs Foreign currency translation gain (loss) Total revenues Total gross profit Total operating (loss) income Depreciation and amortization Total cash capital expenditures Identifiable Assets Concentration risk percentage Accounts and other receivables Trade receivables Due from employees Allowance for doubtful accounts and commission adjustments Accounts and other receivables, net Raw materials Work in process Finished goods Inventories, net Reserves for slow moving inventories Property and equipment, gross Less: accumulated depreciation Property and equipment, net Assets under capital lease Accumulated amortization of assets under capital lease Depreciation expense Goodwill, Beginning of year Foreign currency translation adjustment Goodwill, End of year Costs Accumulated amortization Intangible assets, net 2019 2020 2021 2022 2023 Total Amortization expense Deferred commission expense - noncurrent Trade receivables - noncurrent Other, net of allowance for loss on loan receivable of $412 at December 31, 2018 and 2017 Total Deferred revenue at beginning of year Additions Recognized as revenue Deferred revenue at end of year Less: current portion Long-term deferred revenue at end of year Accrued compensation Accrued expenses - other Other liabilities Accrued expenses and other liabilities Debt and lease obligations Less: current portion (including related parties) Total 2019 2020 2021 2022 2023 Total Portion representing interest Portion representing executory costs Total capital lease obligations 2019 2020 2021 2022 2023 Total Shares available for future issuance Balance, beginning of period Authorized Granted Forfeited Balance, end of period Unvested shares Balance, beginning of period Granted Vested Forfeited Balance, end of period Weighted average grant date fair value Balance, beginning of period Granted Vested Forfeited Balance, end of period Domestic Foreign Current (benefit) provision Federal State Foreign Total current (benefit) provision Deferred provision Federal State Foreign Total deferred provision Total provision for income taxes Effective income tax rate Federal statutory rate State income taxes Change in valuation allowance relating to operations Impact of federal tax rate decrease Impact of federal statutory rate change on valuation allowance Foreign tax rate differential R&D credit Nondeductible expenses Minimum tax credit refundable Other Total Deferred Tax Assets Net operating loss carryforwards Amortization Stock-based compensation Allowance for doubtful accounts Reserve for obsolete inventory Tax credits Expense accruals Excess interest carryforwards Deferred revenue Total gross deferred taxes Valuation allowance Net deferred tax assets Deferred Tax Liabilities Deferred commissions Goodwill Differences in timing of revenue recognition Depreciation Total deferred tax liabilities Total deferred tax assets (liabilities) Recorded as Non-current deferred tax assets Non-current deferred tax liabilities Total deferred tax assets (liabilities) Valuation allowance, beginning of period Partial release of allowance Change in valuation allowance Valuation allowance, end of period Income tax expense Deferred tax assets Increase (decrease) in deferred tax assets Valuation allowance Net operating loss carryforwards Net operating loss carryforwards expiration date 2019 2020 2021 2022 2023 Total Rental expense Company's discretionary annual contributions Refers to all stock option plans of the entity to include but not limited to the 1999 Stock Option Plan, 2004 Stock Option and Stock Issuance Plan, 2010 Stock Option and Stock Issuance Plan and the 2013 Stock Option and Stock Issuance Plan. Tabular disclosure of valuation allowances to reduce account receivables to net realizable value, including identification of the account receivables more likely than not will not be fully realized and the corresponding amount of the valuation allowance. Amount of write-downs, net of recoveries, of receivables charged against the allowance for doubtful accounts. Amount of commission adjustments of receivables charged against the allowance for doubtful accounts. A type of deferred revenue by arrangement relating to commission revenues. Amount of deferred tax liability attributable to deferred commissions. David Lieberman who serves as the Vice Chairman of the Board of Directors (who collectively have responsibility for governing the entity). Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the valuation allowance for deferred tax assets pursuant to Tax Cuts and Jobs Act of 2017. Persons who are on the payroll of the entity and work in the normal operations for the entity. Tangible personal property of equipment furnished for customer or clinical uses. Examples include, but are not limited to, desks, chairs, tables, and bookcases. Component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. A type of deferred revenue by arrangement relating to extended service contracts. Major external customer that accounts for 10 percent or more of the entity's revenues. Name of the acquired entity. A type of deferred revenue by arrangement relating to in-service and training. Refers to the income tax expense (benefit) in deferred tax assets partial release of valuation allowance. The increase (decrease) during the period in accrued commissions. The increase (decrease) during the period in the amount due for deferred tax liabilities based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction. Refers to component of an entity for which there is an accounting requirement to report separate financial information for this particular segment on that component in the entity's financial statements. The amount of interest income and other income (expense) recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). The value of inventories transferred to property and equipment, attributable to operating leases in noncash financing and investing activities. The number of shares issued in a non-cash or part non-cash settlement of a liability. The value of shares issued in a non-cash or part non-cash settlement of a liability. The first line of credit agreement. A line of credit is a contractual arrangement with a lender under which borrowings can be made up to a specific amount at any point in time, and under which borrowings outstanding may be either short-term or long-term, depending upon the particulars. The second line of credit agreement. A line of credit is a contractual arrangement with a lender under which borrowings can be made up to a specific amount at any point in time, and under which borrowings outstanding may be either short-term or long-term, depending upon the particulars. Amount of long-term debt and capital lease obligation due after one year or beyond the normal operating cycle, if longer. Excludes related party debt. Amount of long-term debt, related parties notes payable and capital leases due within one year or the normal operating cycle, if longer. Name of the acquired entity. Persons who are not on the payroll of the entity and work in the normal operations for the entity and its subsidiary. Borrowing supported by a written promise to pay an obligation for certain equipment purchases from Dell Financial Services. Borrowing supported by a written promise to pay an obligation for certain equipment purchases from MedTechnology Investments LLC. Borrowing supported by a written promise to pay an obligation for certain equipment purchases from related parties. Amount of noncurrent assets classified as other after deduction of allowances for loan receivable. Exclusive legal right granted by the government to the owner of the patents and technology to exploit an invention or a process for a period of time specified by law. Refers to the President of Life Enhancement Technology Ltd. &amp; President of Biox Instruments Co. Ltd. Product or group of products that are sold by an entity. Component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts and commission adjustments for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected). This element represents domestic or foreign subordinated debt. Subordinated debt has a lower priority of repayment in liquidation of the entity's assets. A type of deferred revenue by arrangement relating to service arrangements. Gross number of share options (or share units) authorized during the period. Gross number of share options (or share units) granted during the period. A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. Number of non-vested options forfeited. Refers to amount of increase (decrease) in additional paid in capital (APIC) resulting from common stock that is not issued for employee tax liability. Equity-based payment arrangement where one or more employees receive shares of stock (units), stock (unit) options, or other equity instruments, or the employer incurs a liability to the employee in amounts based on the price of the employer's stock (unit). Equity-based payment arrangement where one or more employees receive shares of stock (units), stock (unit) options, or other equity instruments, or the employer incurs a liability to the employee in amounts based on the price of the employer's stock (unit). Equity-based payment arrangement where one or more employees receive shares of stock (units), stock (unit) options, or other equity instruments, or the employer incurs a liability to the employee in amounts based on the price of the employer's stock (unit). Revenues generated from network services. Revenues generated from software sales and support. Revenues generated from commissions. Revenues generated from medical equipment sales. Revenues generated from medical equipment service. Assets, Current Liabilities, Current Liabilities, Noncurrent Treasury Stock, Value Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Liabilities and Equity Operating Expenses Interest and Debt Expense Nonoperating Income (Expense) Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest Comprehensive Income (Loss), Net of Tax, Attributable to Parent Shares, Outstanding Shares not issued for employee tax liability Income (Loss) from Equity Method Investments Gain (Loss) on Disposition of Assets Increase (Decrease) in Accounts and Other Receivables Increase (Decrease) in Due from Related Parties, Current Increase (Decrease) in Inventories Increase (Decrease) in Deferred Charges Increase (Decrease) in Prepaid Expense and Other Assets Increase (Decrease) in Other Noncurrent Assets Increase (Decrease) in Accounts Payable, Trade Increase (Decrease) in Accrued Commissions Increase (Decrease) in Accrued Liabilities Increase (Decrease) in Property and Other Taxes Payable Increase (Decrease) in Deferred Taxes Payable Increase (Decrease) in Other Noncurrent Liabilities Net Cash Provided by (Used in) Operating Activities Payments to Acquire Interest in Joint Venture Net Cash Provided by (Used in) Investing Activities Payments Related to Tax Withholding for Share-based Compensation Repayments of Debt and Capital Lease Obligations Net Cash Provided by (Used in) Financing Activities Cash and Cash Equivalents, Period Increase (Decrease) Stockholders' Equity Note Disclosure [Text Block] Inventory, Policy [Policy Text Block] Property, Plant and Equipment [Table Text Block] Contract with Customer, Liability, Current Allowance for Doubtful Accounts Receivable Allowance For Doubtful Accounts Receivable Charge Offs, Net of Recoveries Depreciation, Depletion and Amortization, Nonproduction Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation Finite-Lived Intangible Assets, Accumulated Amortization Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months Finite-Lived Intangible Assets, Amortization Expense, Year Two Finite-Lived Intangible Assets, Amortization Expense, Year Three Deferred Revenue [Default Label] Deferred Revenue, Revenue Recognized Long-term Debt, Related Parties Notes Payable and Capital Lease Obligations, Current Capital Leases, Future Minimum Payments Due, Next Twelve Months Capital Leases, Future Minimum Payments Due in Two Years Capital Leases, Future Minimum Payments Due in Three Years Capital Leases, Future Minimum Payments Due in Four Years Capital Leases, Future Minimum Payments Due in Five Years Capital Leases, Future Minimum Payments Due Capital Leases, Future Minimum Payments, Interest Included in Payments Capital Leases, Future Minimum Payments, Executory Costs Capital Lease Obligations Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months Long-term Debt, Maturities, Repayments of Principal in Year Two Long-term Debt, Maturities, Repayments of Principal in Year Three Long-term Debt, Maturities, Repayments of Principal in Year Four Long-term Debt, Maturities, Repayments of Principal in Year Five Long-term Debt Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period Available for Future Issuance, Gross Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Number of Shares Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value Current Foreign Tax Expense (Benefit) Current Income Tax Expense (Benefit) Deferred Federal Income Tax Expense (Benefit) Deferred State and Local Income Tax Expense (Benefit) Deferred Foreign Income Tax Expense (Benefit) Deferred Tax Assets, Deferred Income Deferred Tax Assets, Net of Valuation Allowance Deferred Tax Liabilities Deferred Commissions Deferred Tax Liabilities, Goodwill Deferred Tax Liabilities, Tax Deferred Income Deferred Tax Liabilities, Property, Plant and Equipment Deferred Tax Liabilities, Gross Deferred Tax Liabilities, Net Operating Loss Carryforwards Operating Leases, Future Minimum Payments Receivable, Current Operating Leases, Future Minimum Payments Receivable, in Two Years Operating Leases, Future Minimum Payments Receivable, in Three Years Operating Leases, Future Minimum Payments Receivable, in Four Years Operating Leases, Future Minimum Payments Receivable, in Five Years Operating Leases, Future Minimum Payments Receivable EX-101.PRE 12 vaso-20181231_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 13 R1.htm IDEA: XBRL DOCUMENT v3.19.1
Document and Entity Information - USD ($)
12 Months Ended
Dec. 31, 2018
Apr. 05, 2019
Jun. 29, 2018
Document and Entity Information [Abstract]      
Entity Registrant Name VASO Corp    
Entity Central Index Key 0000839087    
Current Fiscal Year End Date --12-31    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Filer Category Non-accelerated Filer    
Entity Emerging Growth Company false    
Entity Small Business true    
Entity Shell Company false    
Entity Public Float     $ 6,000,000
Entity Common Stock, Shares Outstanding   167,109,200  
Document Fiscal Year Focus 2018    
Document Fiscal Period Focus FY    
Document Type 10-K    
Amendment Flag false    
Document Period End Date Dec. 31, 2018    
XML 14 R2.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS    
Cash and cash equivalents $ 2,668 $ 5,245
Accounts and other receivables, net of an allowance for doubtful accounts and commission adjustments of $3,994 at December 31, 2018 and $4,872 at December 31, 2017 11,028 13,225
Receivables due from related parties 20 20
Inventories, net 1,983 2,355
Deferred commission expense 2,585 3,649
Prepaid expenses and other current assets 890 993
Total current assets 19,174 25,487
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $6,370 at December 31, 2018 and $4,980 at December 31, 2017 5,809 4,719
GOODWILL 17,309 17,471
INTANGIBLES, net 4,740 5,254
OTHER ASSETS, net 3,067 3,847
DEFERRED TAX ASSETS, net 375 0
Total Assets 50,474 56,778
CURRENT LIABILITIES    
Accounts payable 6,284 5,423
Accrued commissions 2,116 2,467
Accrued expenses and other liabilities 5,655 5,337
Sales tax payable 1,020 787
Deferred revenue - current portion 10,382 15,540
Notes payable and capital lease obligations - current portion 9,304 3,674
Notes payable - related parties - current portion 582 86
Due to related party 10 390
Total current liabilities 35,353 33,704
LONG-TERM LIABILITIES    
Notes payable and capital lease obligations 400 4,834
Notes payable - related parties, net of current portion 245 259
Deferred revenue, net of current portion 7,704 7,526
Deferred tax liability 124 220
Other long-term liabilities 1,037 1,083
Total long-term liabilities 9,510 13,922
COMMITMENTS AND CONTINGENCIES (NOTE P)
STOCKHOLDERS' EQUITY    
Preferred stock, $.01 par value; 1,000,000 shares authorized; nil shares issued and outstanding at December 31, 2018 and 2017 0 0
Common stock, $.001 par value; 250,000,000 shares authorized; 177,417,287 and 175,741,970 shares issued at December 31, 2018 and 2017, respectively; 167,109,200 and 165,433,883 shares outstanding at December 31, 2018 and 2017, respectively 178 176
Additional paid-in capital 63,672 63,363
Accumulated deficit (55,924) (52,329)
Accumulated other comprehensive loss (315) (58)
Treasury stock, at cost, 10,308,087 shares at December 31, 2018 and 2017 (2,000) (2,000)
Total stockholders' equity 5,611 9,152
Total liabilities and stockholders' equity $ 50,474 $ 56,778
XML 15 R3.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS    
Accounts and other receivables, allowance for doubtful accounts and commission adjustments $ 3,994 $ 4,872
PROPERTY AND EQUIPMENT, accumulated depreciation $ 6,370 $ 4,980
STOCKHOLDERS' EQUITY    
Preferred stock, par value $ 0.01 $ 0.01
Preferred stock, shares authorized 1,000,000 1,000,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
Common stock, par value $ 0.001 $ 0.001
Common stock, shares authorized 250,000,000 250,000,000
Common stock, shares issued 177,417,287 175,741,970
Common stock, shares outstanding 167,109,200 165,433,883
Treasury stock, at cost 10,308,087 10,308,087
XML 16 R4.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Revenues    
Total revenues $ 73,980 $ 72,788
Cost of revenues    
Total cost of revenues 32,856 32,057
Gross profit 41,124 40,731
Operating expenses    
Selling, general and administrative 43,962 43,618
Research and development 886 945
Total operating expenses 44,848 44,563
Operating (loss) income (3,724) (3,832)
Other income (expense)    
Interest and financing costs (750) (674)
Interest and other income, net 143 101
Gain on sale of investment in VSK 212 0
Total other expense, net (395) (573)
Loss before income taxes (4,119) (4,405)
Income tax benefit (expense) 385 (134)
Net loss (3,734) (4,539)
Other comprehensive loss    
Foreign currency translation (loss) gain (257) 271
Comprehensive loss $ (3,991) $ (4,268)
(Loss) income per common share    
- basic and diluted (in dollars per share) $ (0.02) $ (0.03)
Weighted average common shares outstanding    
- basic and diluted 165,420 162,213
Managed IT systems and services    
Revenues    
Total revenues $ 44,228 $ 42,581
Cost of revenues    
Total cost of revenues 25,849 24,958
Professional sales services    
Revenues    
Total revenues 25,511 26,443
Cost of revenues    
Total cost of revenues 5,346 5,813
Equipment sales and services    
Revenues    
Total revenues 4,241 3,764
Cost of revenues    
Total cost of revenues $ 1,661 $ 1,286
XML 17 R5.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Common Stock [Member]
Treasury Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Total
Balance at Dec. 31, 2016 $ 174 $ (2,000) $ 62,856 $ (47,790) $ (329) $ 12,911
Balance (in shares) at Dec. 31, 2016 173,812 (10,308)        
Share-based compensation $ 2   512     514
Share-based compensation (in shares) 1,930          
Shares not issued for employee tax liability     (5)     (5)
Foreign currency translation gain (loss)         271 271
Net (loss) income       (4,539)   (4,539)
Balance at Dec. 31, 2017 $ 176 $ (2,000) 63,363 (52,329) (58) 9,152
Balance (in shares) at Dec. 31, 2017 175,742 (10,308)        
Share-based compensation $ 2   311     313
Share-based compensation (in shares) 1,675          
Adoption of new accounting standard       139   139
Shares not issued for employee tax liability     (2)     (2)
Foreign currency translation gain (loss)         (257) (257)
Net (loss) income       (3,734)   (3,734)
Balance at Dec. 31, 2018 $ 178 $ (2,000) $ 63,672 $ (55,924) $ (315) $ 5,611
Balance (in shares) at Dec. 31, 2018 177,417 (10,308)        
XML 18 R6.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities    
Net loss $ (3,734) $ (4,539)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities    
Depreciation and amortization 2,522 2,426
Deferred income taxes (374) 216
Loss from interest in joint venture 9 20
Gain on sale of investment in VSK (212) 0
Loss on disposal of property and equipment 0 3
Provision for doubtful accounts and commission adjustments 460 271
Amortization of debt issue costs 32 33
Share-based compensation 313 514
Changes in operating assets and liabilities:    
Accounts and other receivables 1,725 (737)
Receivables due from related parties 0 (25)
Inventories, net 329 87
Deferred commission expense 1,174 (1,732)
Prepaid expenses and other current assets 98 (66)
Other assets, net 223 1,036
Accounts payable 864 197
Accrued commissions (599) 296
Accrued expenses and other liabilities 602 27
Sales tax payable 239 67
Deferred revenue (4,981) 3,663
Deferred tax liability (97) 108
Other long-term liabilities (46) (266)
Net cash (used in) provided by operating activities (1,453) 1,599
Cash flows from investing activities    
Purchases of equipment and software (2,586) (2,374)
Proceeds from sale of investment in VSK 311 0
Net cash used in investing activities (2,275) (2,374)
Cash flows from financing activities    
Net borrowings (repayments) on revolving line of credit 778 (384)
Payroll taxes paid by withholding shares (2) (5)
Proceeds from notes payable 21 0
Repayment of notes payable and capital lease obligations (156) (328)
Proceeds from (payments on) notes payable - related parties 500 (335)
Net cash provided by (used in) financing activities 1,141 (1,052)
Effect of exchange rate differences on cash and cash equivalents 10 (15)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (2,577) (1,842)
Cash and cash equivalents - beginning of year 5,245 7,087
Cash and cash equivalents - end of year 2,668 5,245
SUPPLEMENTAL DISCLOSURE OF CASH INFORMATION    
Interest paid 701 639
Income taxes paid 79 58
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Equipment acquired through capital lease $ 529 $ 0
XML 19 R7.htm IDEA: XBRL DOCUMENT v3.19.1
DESCRIPTION OF BUSINESS AND GOING CONCERN ASSESSMENT
12 Months Ended
Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
DESCRIPTION OF BUSINESS AND GOING CONCERN ASSESSMENT

Vaso Corporation was incorporated in Delaware in July 1987. For most of its history, the Company was a single-product company designing, manufacturing, marketing and servicing its proprietary Enhanced External Counterpulsaion, or EECP®, therapy systems, mainly for the treatment of angina. In 2010 it began to diversify its business operations. The Company changed its name to Vaso Corporation in 2016 to more accurately reflect the diversified nature of its business mixture, and continues to use the original name VasoMedical for its proprietary medical device subsidiary. Unless the context requires otherwise, all references to “we”, “our”, “us”, “Company”, “registrant”, “Vaso” or “management” refer to Vaso Corporation and its subsidiaries.

 

Overview

 

Vaso Corporation principally operates in three distinct business segments in the healthcare equipment and information technology industries. We manage and evaluate our operations, and report our financial results, through these three business segments.

 

IT segment, operating through a wholly-owned subsidiary VasoTechnology, Inc., primarily focuses on healthcare IT and managed network technology services;

 

Professional sales service segment, operating through a wholly-owned subsidiary Vaso Diagnostics, Inc. d/b/a VasoHealthcare, primarily focuses on the sale of healthcare capital equipment for General Electric Healthcare (“GEHC”) into the health provider middle market; and

 

Equipment segment, primarily focuses on the design, manufacture, sale and service of proprietary medical devices, operating through a wholly-owned subsidiary VasoMedical, Inc., which in turn operates through Vasomedical Solutions, Inc. for domestic business and Vasomedical Global Corp. for international business, respectively.

 

VasoTechnology

 

VasoTechnology, Inc. was formed in May 2015, at the time the Company acquired all of the assets of NetWolves, LLC and its affiliates, including the membership interests in NetWolves Network Services, LLC (collectively, “NetWolves”). It currently consists of a managed network and security service division, NetWolves, and a healthcare IT application VAR (value added reseller) division, VasoHealthcare IT.

 

In June 2014, the Company began its IT segment business by executing the Value Added Reseller Agreement (“VAR Agreement”) with GEHC to become a national value added reseller of GEHC Digital’s software solutions such as Picture Archiving and Communication System (“PACS”), Radiology Information System (“RIS”), and related services, including implementation, training, management and support. This multiyear VAR Agreement focuses primarily on existing customer segments currently served by VasoHealthcare on behalf of GEHC. A new wholly owned subsidiary, VasoHealthcare IT Corp. (“VHC IT”), was formed to conduct the healthcare IT business.

 

In May 2015, the Company further expanded its IT segment business by acquiring NetWolves. NetWolves designs and delivers multi-network and multi-technology solutions as a managed network provider, and provides a complete single-source solution that includes design, network redundancy, application device management, real-time network monitoring, reporting and support systems as a comprehensive solution.

 

VasoHealthcare

 

In May 2010, the Company launched its Professional Sales Service business through a wholly-owned subsidiary Vaso Diagnostics, Inc. d/b/a VasoHealthcare, which was appointed the exclusive representative for the sale of select GEHC diagnostic imaging equipment to specific market segments in the 48 contiguous states of the United States and the District of Columbia. The original agreement (“GEHC Agreement”) has been extended several times and currently expires December 31, 2022, subject to earlier termination under certain circumstances.

 

VasoMedical

 

The proprietary medical equipment business now all under VasoMedical traces back to 1995 when the Company began the external counterpulsation technology in the United States. Vasomedical Global was formed in 2011 to combine and coordinate the various international operations including design, development, manufacturing, and sales of medical devices, while domestic activities are under Vasomedical Solutions.

 

The Company’s Equipment business also has been significantly expanded from the original EECP®-only operations. In September 2011, the Company acquired FGE, a British Virgin Islands company, which owns or controls two Chinese operating companies - Life Enhancement Technology Ltd. (“LET”) based in Foshan, China, and Biox Instruments Co. Ltd. (“Biox”) based in Wuxi, China, respectively - to expand its technical and manufacturing capabilities and to enhance its distribution network, technology, and product portfolio. Biox is a variable interest entity (“VIE”) controlled by FGE through certain contracts and an option to acquire all the shares of Biox. In August 2014, the Company acquired all of the outstanding shares of Genwell Instruments Co. Ltd. (“Genwell”), located in Wuxi, China. Genwell was formed in China in 2010 with the assistance of a government grant to develop the MobiCare™ wireless multi-parameter patient monitoring system and holds intellectual property rights for this system. As a result, the Company has now expanded its equipment products portfolio to include Biox™ series ambulatory patient monitoring systems, ARCS™ series software for ECG and blood pressure analysis, and the MobiCare™ patient monitoring device. In 2017, as an effort to further reduce engineering and production cost of its EECP® products, the Company moved the operations of LET from Foshan, China to Biox in Wuxi, China, and closed LET in 2018.

 

In April 2014, the Company entered into a cooperation agreement with Chongqing PSK-Health Sci-Tech Development Co., Ltd. (“PSK”) of Chongqing, China, the leading manufacturer of external counter pulsation, or ECP, therapy systems in China, to form a joint venture company, VSK Medical Limited (“VSK”), a Cayman Islands company, for the global marketing, sale and advancement of ECP therapy technology. The Company owned 49.9% of VSK, which commenced operations in January 2015. In March 2018, the Company terminated the cooperation agreement with PSK and sold its shares in VSK to PSK (see Note K).

 

Going concern assessment

 

We have incurred net losses from operations for the years ended December 31, 2018 and 2017, and we maintain lines of credit from a lending institution and these lines of credit will require further extensions after their current June 28, 2019 maturity date. These events raise substantial doubt about our ability to continue as a going concern. Our ability to continue operating as a going concern is dependent upon achieving profitability, extending the maturity date of our existing lines of credit, or through additional debt or equity financing. Achieving profitability is largely dependent on our ability to reduce operating costs and to maintain or increase our current revenue. While we believe we will continue to maintain or increase our gross revenue and are in the process of reducing operating costs, and while historically we have received extensions of the maturity dates of our lines of credit, failure to achieve these objectives could cast doubt on our ability to continue as a going concern.

XML 20 R8.htm IDEA: XBRL DOCUMENT v3.19.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A summary of the significant accounting policies consistently applied in the preparation of the consolidated financial statements are as follows:

 

Principles of Consolidation

 

The consolidated financial statements include the accounts of Vaso Corporation, its wholly-owned subsidiaries, and the variable interest entity where the Company is the primary beneficiary. Significant intercompany balances and transactions have been eliminated.

 

Variable Interest Entity

 

Basic Information

 

The Company follows the guidance of accounting for variable interest entities, which requires certain variable interest entities to be consolidated by the primary beneficiary of the entities.

 

Biox is a Variable Interest Entity (“VIE”). Laws and regulations of the Peoples Republic of China (“PRC”) prohibit or restrict companies with foreign ownership from certain activities and benefits including eligibility for certain government grants and certain rebates related to commercial activities. To provide the Company the expected residual returns of the VIE, the Company, through its wholly-owned subsidiary Gentone, entered into a series of contractual arrangements with Biox and its registered shareholders to enable the Company, to:

 

exercise effective control over the VIE;

 

receive substantially all of the economic benefits and residual returns, and absorb substantially all the risks of the VIE as if they were their sole shareholders; and

 

have an exclusive option to purchase all of the equity interests in the VIE.

 

The Company’s management evaluated the relationships between the Company and Biox, and the economic benefits flow of the applicable contractual arrangements. The Company concluded that it is the primary beneficiary of Biox. As a result, the results of operations, assets and liabilities of Biox have been included in the Company’s consolidated financial statements.

 

The significant agreements through which the Company exercises effective control over Biox are:

 

the Exclusive Technical Consulting Services Agreement between Biox and Gentone;

 

the Option Agreement on Purchase of the Equity Interest executed by and among the shareholders of Biox and Gentone;

 

the Equity Pledge Agreement executed by and among the shareholders of Biox and Gentone; and

 

the Powers of Attorney issued by the shareholders of Biox.

  

Financial Information of VIE

 

Liabilities recognized as a result of consolidating this VIE do not represent additional claims on the Company’s general assets. VIE assets can be used to settle obligations of the primary beneficiary. The financial information of Biox, which was included in the accompanying consolidated financial statements, is presented as follows:

 

    (in thousands)  
    As of December 31,  
    2018     2017  
             
Cash and cash equivalents   $ 97     $ 41  
Total assets   $ 1,641     $ 1,599  
Total liabilities   $ 1,662     $ 1,745  

 

 

    (in thousands)  
    Year ended December 31,  
    2018     2017  
             
Total net revenue   $ 2,294     $ 1,597  
                 
Net income (loss)   $ 111     $ (524 )

 

Use of Estimates

 

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions relate to estimates of collectibility of accounts receivable, the realizability of deferred tax assets, stock-based compensation, values and lives assigned to acquired intangible assets, fair value of reporting units in connection with goodwill impairment test, the adequacy of inventory reserves, variable consideration, and allocation of contract transaction price to performance obligations. Actual results could differ from those estimates.

 

Revenue Recognition

 

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). Under the standard, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. ASU 2014-09 replaced most existing revenue recognition guidance in U.S. GAAP. The new standard introduces a five-step process to be followed in determining the amount and timing of revenue recognition. It also provides guidance on accounting for costs incurred to obtain or fulfill contracts with customers, and establishes disclosure requirements which are more extensive than those required under prior U.S. GAAP. Generally, we recognize revenue under Topic 606 for each of our performance obligations either over time (generally, the transfer of a service) or at a point in time (generally, the transfer of a good) as follows:

 

VasoTechnology

 

Revenue relating to recurring managed network and voice services provided by NetWolves are recognized as provided on a monthly basis (“over time”). Non-recurring charges related to the provision of such services are recognized in the period provided (“point in time”). In the IT VAR business, software system installations are recognized upon verification of installation and expiration of an acceptance period (“point in time”). Monthly post-implementation customer support provided under such installations as well as software solutions offered under a monthly Software as a Service (“SaaS”) fee basis are recognized monthly over the contract term (“over time”).

  

VasoHealthcare

 

Commission revenue is recognized when the underlying equipment has been delivered by GEHC and accepted at the customer site in accordance with the terms of the specific sales agreement (“point in time”).

 

VasoMedical

 

In the United States, we recognized revenue from the sale of our medical equipment in the period in which we deliver the product to the customer (“point in time”). Revenue from the sale of our medical equipment to international markets is recognized upon shipment of the product to a common carrier, as are supplies, accessories and spare parts delivered in both domestic and international markets (“point in time”). The Company also recognizes revenue from the maintenance of EECP® systems either on a time and material as-billed basis (“point in time”) or through the sale of a service contract, where revenue is recognized ratably over the contract term (“over time”).

 

Impact of Adoption

 

Effective January 1, 2018, the Company adopted the requirements of Topic 606 using the modified retrospective method, which provided that the cumulative effect from prior periods upon applying the new guidance was recognized in our consolidated balance sheets as of the date of adoption, including an adjustment to retained earnings, and that prior periods are not retrospectively adjusted. The Company elected to apply the modified retrospective method only to contracts that were not completed at January 1, 2018. A summary and discussion of such cumulative effect adjustment and the impact on current period financial statements of adopting Topic 606 is as follows:

 

     (in thousands)  
    Year ended December 31, 2018  
    prior U.S. GAAP     Topic 606 impact     as reported  
STATEMENT OF OPERATIONS                  
Revenues                  
Professional sales services   $ 25,511     $ -     $ 25,511  
Total revenues     73,980       -       73,980  
                         
Gross Profit     41,124       -       41,124  
                         
Operating expenses                        
Selling, general and administrative     44,083       (121 )     43,962  
Operating loss   $ (3,845 )   $ 121     $ (3,724 )

  

     (in thousands)  
    As of December 31, 2018  
    prior U.S. GAAP     Topic 606 impact     as reported  
ASSETS                  
Accounts and other receivables, net   $ 11,028     $ -     $ 11,028  
Deferred commission expense   $ 2,577     $ 8     $ 2,585  
Other assets, net   $ 3,252     $ 190     $ 3,442  
                         
LIABILITIES AND STOCKHOLDERS' EQUITY                        
Deferred revenue - current portion   $ 10,382     $ -     $ 10,382  
Deferred revenue - long term   $ 7,704     $ -     $ 7,704  
Accumulated deficit   $ (56,185 )   $ 261     $ (55,924 )

 

Disaggregation of Revenue

 

The following tables present revenues disaggregated by our business operations and timing of revenue recognition:

 

    Year ended December 31, 2018     Year ended December 31, 2017  
          Professional sales      Equipment                 Professional sales      Equipment        
    IT segment     service segment     segment     Total     IT segment     service segment     segment     Total  
Network services   $ 40,254                 $ 40,254     $ 38,882                 $ 38,882  
Software sales and support     3,974                   3,974       3,699                   3,699  
Commissions             25,511             25,511               26,443             26,443  
Medical equipment sales                     3,151       3,151                       2,660       2,660  
Medical equipment service                     1,090       1,090                       1,104       1,104  
    $ 44,228     $ 25,511     $ 4,241     $ 73,980     $ 42,581     $ 26,443     $ 3,764     $ 72,788  

 

 

    Year ended December 31, 2018     Year ended December 31, 2017  
          Professional sales      Equipment                 Professional sales      Equipment        
    IT segment     service segment     segment     Total     IT segment     service segment     segment     Total  
Revenue recognized over time   $ 39,340     $ -     $ 658     $ 39,998     $ 37,629     $ -     $ 707     $ 38,336  
Revenue recognized at a point in time     4,888       25,511       3,583       33,982       4,952       26,443       3,057       34,452  
    $ 44,228     $ 25,511     $ 4,241     $ 73,980     $ 42,581     $ 26,443     $ 3,764     $ 72,788  

  

Transaction Price Allocated to Remaining Performance Obligations

 

As of December 31, 2018, the aggregate amount of transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) for executed contracts approximates $82.2 million, of which we expect to recognize revenue as follows:

 

    Fiscal years of revenue recognition  
    2019     2020     2021     Thereafter  
Unfulfilled performance obligations   $ 41,271     $ 26,087     $ 8,595     $ 6,278  
                                 

 

Contract Liabilities

 

Contract liabilities arise in our IT VAR, VasoHealthcare, and VasoMedical businesses. In our IT VAR business, payment arrangements with clients typically include an initial payment due upon contract signing and milestone-based payments based upon product delivery and go-live, as well as post go-live monthly payments for subscription and support fees. Customer payments received, or receivables recorded, in advance of go-live and customer acceptance, where applicable, are deferred as contract liabilities. Such amounts aggregated approximately $344,000 and $371,000 at December 31, 2018 and 2017, respectively, and are included in accrued expenses and other liabilities in our consolidated balance sheets.

 

In our VasoHealthcare business, we bill amounts for booked orders in advance of customer acceptance of the equipment. Such amounts aggregated approximately $17,098,000 and $22,126,000 at December 31, 2018 and 2017, respectively, and are classified in our consolidated balance sheets into current or long-term deferred revenue. In addition, we record a contract liability for amounts expected to be credited back to GEHC due to customer order reductions. Such amounts aggregated approximately $2,315,000 and $1,143,000 at December 31, 2018 and 2017, respectively, and are included in accrued expenses and other liabilities in our consolidated balance sheets.

 

In our VasoMedical business, we bill amounts for post-delivery services and varying duration service contracts in advance of performance. Such amounts aggregated approximately $988,000 and $941,000 at December 31, 2018 and 2017, respectively, and are classified in our consolidated balance sheets as either current or long-term deferred revenue.

 

During the year ended December 31, 2018, we recognized approximately $7.3 million of revenues that were included in our contract liability balance at the beginning of such period.

 

Costs to Obtain or Fulfill a Contract

 

Topic 606 requires that incremental costs of obtaining a contract are recognized as an asset and amortized to expense in a pattern that matches the timing of the revenue recognition of the related contract. We have determined the only significant incremental costs incurred to obtain contracts with customers within the scope of Topic 606 are certain sales commissions paid to associates. In addition, the Company elected the practical expedient to recognize the incremental costs of obtaining a contract when incurred for contracts where the amortization period for the asset the Company would otherwise have recognized is one year or less.

  

Under prior U.S. GAAP, we recognized sales commissions in our equipment segment as incurred. Under Topic 606, sales commissions applicable to service contracts exceeding one year have been capitalized and amortized ratably over the term of the contract. In our IT VAR business, all commissions paid in advance of go-live were, under prior U.S. GAAP, capitalized as deferred commission expense and charged to expense at go-live or customer acceptance, as applicable. Under Topic 606, IT VAR commissions allocable to multi-year subscription contracts or multi-year post-contract support performance obligations are amortized to expense ratably over the terms of the multi-year periods. IT VAR commissions allocable to other elements continue to be charged to expense at go-live or customer acceptance, as was previously done. At the date of adoption of Topic 606, we recorded an asset, and related adjustment to retained earnings, of approximately $139,000 in our consolidated balance sheets for the amount of unamortized sales commissions for prior periods, as calculated under the new guidance. The impact to our financial statements of adopting Topic 606, as it relates to costs to obtain contracts, was a reduction in commission expense of approximately $121,000 for the year ended December 31, 2018, an increase in deferred commission expense of approximately $8,000, and an increase in long term deferred commission expense (recorded in other assets) of approximately $190,000 (inclusive of the beginning balance adjustment of $139,000).

 

In our professional sales services segment, under both prior U.S. GAAP and Topic 606, commissions paid to our sales force are deferred until the underlying equipment is accepted by the customer.

 

At December 31, 2018, our consolidated balance sheet includes approximately $4,562,000 in capitalized sales commissions to be expensed in future periods, of which $2,585,000 is recorded in deferred commission expense and $1,977,000, representing the long-term portion, is included in other assets.

 

Significant Judgments when Applying Topic 606

 

Contract transaction price is allocated to performance obligations using estimated stand-alone selling price. Judgment is required in estimating stand-alone selling price for each distinct performance obligation. We determine stand-alone selling price maximizing observable inputs such as stand-alone sales when they exist or substantive renewal price charged to clients. In instances where stand-alone selling price is not observable, we utilize an estimate of stand-alone selling price based on historical pricing and industry practices.

 

Certain revenue we record in our professional sales service segment contains an estimate for variable consideration. Due to the tiered structure of our commission rate, which increases as annual targets are achieved, under Topic 606 we record revenue and deferred revenue at the rate we expect to be achieved by year end. Under prior U.S. GAAP, we recognized revenue at the rate achieved at the applicable reporting date. We base our estimate of variable consideration on historical results of previous years’ achievement under the GEHC agreement. Such estimate will be reviewed each quarter and adjusted as necessary. The Company recognized reductions in revenue associated with revisions to variable consideration for previously completed performance obligations of $165,000 for the year ended December 31, 2018.

 

Shipping and Handling Costs

 

All shipping and handling expenses are charged to cost of sales. Amounts billed to customers related to shipping and handling costs are included as a component of sales.

 

Research and Development

 

Research and development costs attributable to development are expensed as incurred.

  

Share-Based Compensation

 

The Company complies with ASC Topic 718, “Compensation – Stock Compensation” (“ASC 718”), and ASC Topic 505, “Equity” (“ASC 505”), which requires all companies to recognize the cost of services received in exchange for equity instruments, to be recognized in the financial statements based on their fair values. For employees and non-employee directors, the fair value is measured on the grant date and for non-employees, the fair value is measured on the measurement date and re-measured at each reporting period until performance is complete. The Company applies an estimated forfeiture rate to the grant date fair value to determine the annual compensation cost of share-based payment arrangements with employees. The forfeiture rate is estimated based primarily on job title and prior forfeiture experience. The Company did not grant any awards to non-employees during the years ended December 31, 2018 and 2017.

 

During the year ended December 31, 2018, the Company granted 975,000 restricted shares of common stock valued at $63,000 to non-officer employees, and 725,000 restricted shares of common stock valued at $44,000 to officers. The 975,000 shares granted to non-officer employees vest at various times over three to five years from the grant date and the 725,000 shares granted to officers vested in April 2018. The total fair value of shares vested during the year ended December 31, 2018 was $385,000 for employees. The weighted average grant date fair value of shares granted during the year ended December 31, 2018 was $0.06 per share.

 

During the year ended December 31, 2017, the Company granted 50,000 restricted shares of common stock valued at $6,000 to non-officer employees, and 925,000 restricted shares of common stock valued at $111,000 to officers. The 975,000 shares granted vested on April 1, 2017. The total fair value of shares vested during the year ended December 31, 2017 was $467,000 for employees. The weighted average grant date fair value of shares granted during the year ended December 31, 2017 was $0.12 per share.

 

The Company did not grant any stock options during the years ended December 31, 2018 or 2017, nor were any options exercised during such periods. No options were outstanding at December 31, 2018 or 2017.

 

Share-based compensation expense recognized for the years ended December 31, 2018 and 2017 was $313,000 and $514,000, respectively, and is recorded in selling, general, and administrative expense in the consolidated statements of operations and comprehensive loss. Unrecognized expense related to existing share-based compensation and arrangements is approximately $207,000 at December 31, 2018 and will be recognized over a weighted-average period of approximately 12 months.

 

Cash and Cash Equivalents

 

Cash and cash equivalents represent cash and short-term, highly liquid investments either in certificates of deposit, treasury bills, money market funds, or investment grade commercial paper issued by major corporations and financial institutions that generally have maturities of three months or less from the date of acquisition.

 

Accounts Receivable, net

 

The Company’s accounts receivable are due from customers to whom we sell our products and services, distributors engaged in the distribution of our products and from GEHC. Credit is extended based on evaluation of a customer’s financial condition and, generally, collateral is not required. Accounts receivable are generally due 30 to 90 days from shipment and services provided and are stated at amounts due from customers net of allowances for doubtful accounts, returns, term discounts and other allowances. Accounts that are outstanding longer than the contractual payment terms are considered past due. Estimates are used in determining the allowance for doubtful accounts based on the Company’s historical collections experience, current trends, credit policy and a percentage of its accounts receivable by aging category. In determining these percentages, the Company reviews historical write-offs of their receivables. The Company also looks at the credit quality of their customer base as well as changes in their credit policies. The Company continuously monitors collections and payments from our customers, and writes off receivables when all efforts at collection have been exhausted. While credit losses have historically been within expectations and the provisions established, the Company cannot guarantee that it will continue to experience the same credit loss rates that they have in the past.

  

The changes in the Company’s allowance for doubtful accounts and commission adjustments are as follows:

 

    (in thousands)  
    Year ended December 31,  
    2018     2017  
Beginning Balance   $ 4,872     $ 4,159  
Provision for losses on accounts receivable     460       157  
Direct write-offs, net of recoveries     (268 )     (212 )
Commission adjustments     (1,070 )     768  
Ending Balance   $ 3,994     $ 4,872  

 

Concentrations of Credit Risk

 

We market our equipment and IT software solutions principally to hospitals, diagnostic imaging centers and physician private practices. We perform credit evaluations of our customers’ financial condition and, as a result, believe that our receivable credit risk exposure is limited. For the years ended December 31, 2018 and 2017, no customer in our equipment or IT segment accounted for 10% or more of revenues or accounts receivable. In our professional sales service segment, 100% of our revenues and accounts receivable are with GEHC; however, we believe this risk is acceptable based on GEHC’s financial position.

 

The Company maintains cash balances in certain U.S. financial institutions, which, at times, may exceed the Federal Depository Insurance Corporation (“FDIC”) coverage of $250,000.  The Company has not experienced any losses on these accounts and believes it is not subject to any significant credit risk on these accounts. In addition, the FDIC does not insure the Company’s foreign bank balances, which aggregated approximately $519,000 and $709,000 at December 31, 2018 and 2017, respectively.

 

Inventories, net

 

The Company values inventories in the equipment segment at the lower of cost or net realizable value, with cost being determined on a first-in, first-out basis. The Company occasionally places EECP® systems and other medical device products at various field locations for demonstration, training, evaluation, and other similar purposes at no charge. The cost of these products is transferred to property and equipment and is amortized over two to five years. The Company records the cost of refurbished components of EECP® systems and critical components at cost plus the cost of refurbishment. The Company regularly reviews inventory quantities on hand, particularly raw materials and components, and records a provision for excess and slow moving inventory based primarily on existing and anticipated design and engineering changes to its products as well as forecasts of future product demand.

 

In our IT Segment, we purchase computer hardware and software for specific customer requirements and value such inventories using the specific identification method.

 

Property and Equipment

 

Property and equipment, including assets under capital lease, are stated at cost less accumulated depreciation and amortization. Major improvements are capitalized and minor replacements, maintenance and repairs are charged to expense as incurred. Upon retirement or disposal of assets, the cost and related accumulated depreciation are removed from the consolidated balance sheets. Depreciation is expensed over the estimated useful lives of the assets, which range from two to eight years, on a straight-line basis. Accelerated methods of depreciation are used for tax purposes. We amortize leasehold improvements over the useful life of the related leasehold improvement or the life of the related lease, whichever is less.

  

Goodwill and Intangible Assets

 

Goodwill represents the excess of cost over the fair value of net assets of businesses acquired. The Company accounts for goodwill under the guidance of the ASC Topic 350, “Intangibles: Goodwill and Other”. Goodwill acquired in a purchase business combination is not amortized, but instead tested for impairment, at least annually, in accordance with this guidance. The recoverability of goodwill is subject to an annual impairment test or whenever an event occurs or circumstances change that would more likely than not result in an impairment. The Company tests goodwill for impairment at the reporting unit level on an annual basis as of December 31 and between annual tests when an event occurs or circumstances change that could indicate that the asset might be impaired. In any year, the Company may elect to perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is in excess of its carrying value. If the Company cannot determine qualitatively that the fair value is in excess of the carrying value, or the Company decides to bypass the qualitative assessment, the Company proceeds to the quantitative goodwill impairment test, which compares the fair value of each reporting unit to its carrying amount, including goodwill. If the fair value of each reporting unit exceeds its carrying amount, goodwill is not considered to be impaired. If the carrying amount of a reporting unit exceeds its fair value, sn impairment loss is recognized for an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. No impairment loss was recorded as of December 31, 2018 and 2017.

 

Intangible assets consist of the value of customer contracts and relationships, patent and technology costs, and software. The cost of significant customer-related intangibles is amortized in proportion to estimated total related revenue; cost of other intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life, which range from five to ten years. The Company capitalizes internal use software development costs incurred during the application development stage. Costs related to preliminary project activities, training, data conversion, and post implementation activities are expensed as incurred. The Company capitalized $527,000 and $398,000 in software development costs for the years ended December 31, 2018 and 2017, respectively.

 

Impairment of Long-lived Assets

 

The Company reviews the recoverability of all long-lived assets, including the related useful lives, whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset might not be recoverable. If required, the Company compares the estimated fair value determined by either the undiscounted future net cash flows or appraised value to the related asset’s carrying value to determine whether there has been an impairment. If an asset is considered impaired, the asset is written down to fair value, which is based either on discounted cash flows or appraised values in the period the impairment becomes known. No assets were determined to be impaired as of December 31, 2018 and 2017.

 

Deferred Revenue

 

Amounts billable under the agreement with GEHC in advance of customer acceptance of the equipment are recorded initially as deferred revenue, and commission revenue is subsequently recognized as customer acceptance of such equipment is reported to us by GEHC. Similarly, commissions payable to our sales force related to such billings are recorded as deferred commission expense when the associated deferred revenue is recorded. Commission expense is recognized when the corresponding commission revenue is recognized.

 

We record revenue on extended service contracts ratably over the term of the related service contracts. Under the provisions of ASC 606, we defer revenue related to EECP® system sales for the fair value of installation and in-service training to the period when the services are rendered and for service obligations ratably over the service period, which is generally one year. (See Note I)

  

Income Taxes

 

Deferred income taxes are recognized for temporary differences between financial statement and income tax bases of assets and liabilities and loss carry-forwards for which income tax benefits are expected to be realized in future years. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized. In estimating future tax consequences, we generally consider all expected future events other than an enactment of changes in the tax laws or rates. Deferred tax assets are continually evaluated for the expected realization. To the extent our judgment regarding the realization of the deferred tax assets changes, an adjustment to the allowance is recorded, with an offsetting increase or decrease, as appropriate, in income tax expense. Such adjustments are recorded in the period in which our estimate as to the realization of the assets changed that it is “more likely than not” that all of the deferred tax assets will be realized. The “realization” standard is subjective and is based upon our estimate of a greater than 50% probability that the deferred tax asset can be realized.

 

The Company also complies with the provisions of ASC Topic 740, “Income Taxes”, which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by the relevant taxing authority based on the technical merits. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. Derecognition of a tax benefit previously recognized results in the Company recording a tax liability that reduces ending retained earnings. Based on its analysis, the Company has determined that it has not incurred any liability for unrecognized tax benefits as of December 31, 2018 and 2017. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2018 and 2017. Generally, the Company is no longer subject to income tax examinations by major domestic taxing authorities for years before 2015. According to the China tax regulatory framework, there is no statute of limitations on examination of tax filings by tax authorities. However, the general practice is going back five years. Management is currently unaware of any issues under review that could result in significant payments, accruals or material deviations from its position.

 

Foreign Currency Translation (Loss) Gain and Comprehensive Loss

 

In countries in which the Company operates, and the functional currency is other than the U.S. dollar, assets and liabilities are translated using published exchange rates in effect at the consolidated balance sheet date.  Equity accounts are translated at historical rates except for the changes in accumulated deficit during the year as the result of the income statement translation process. Revenues and expenses and cash flows are translated using a weighted average exchange rate for the period.  Resulting translation adjustments are recorded as a component of accumulated other comprehensive loss on the accompanying consolidated balance sheets.  For the years ended December 31, 2018 and 2017, other comprehensive loss includes (losses) gains of $(257,000) and $271,000, respectively, which were entirely from foreign currency translation.

 

Net Loss Per Common Share

 

Basic loss per common share is based on the weighted average number of common shares outstanding without consideration of potential common stock. Diluted earnings per common share is based on the weighted average number of common and potential dilutive common shares outstanding.

   

The following table represents common stock equivalents that were excluded from the computation of diluted earnings per share for the years ended December 31, 2018 and 2017, because the effect of their inclusion would be anti-dilutive.

 

    (in thousands)  
    Year ended December 31,  
    2018     2017  
             
Restricted common stock grants     2,388       4,204  
                 

 

Reclassifications

 

Certain reclassifications have been made to prior year amounts to conform with the current year presentation.

 

Recently Issued Accounting Pronouncements

 

The Company continually assesses any new accounting pronouncements to determine their applicability to the Company. Where it is determined that a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes a study to determine the consequence of the change to its financial statements and assures that there are proper controls in place to ascertain that the Company’s consolidated financial statements properly reflect the change. New pronouncements assessed by the Company recently are discussed below:

 

Leases

 

In February 2016, The FASB issued ASU 2016-02 (Topic 842), “Leases”. ASU 2016-02 requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors are required to recognize and measure leases at either the effective date (the “effective date method”) or the beginning of the earliest period presented (the “comparative method”) using a modified retrospective approach. Under the effective date method, the Company’s comparative period reporting is unchanged. In contrast, under the comparative method, the Company’s date of initial application is the beginning of the earliest comparative period presented, and the Topic 842 transition guidance is then applied to all comparative periods presented. Further, under either transition method, the standard includes certain practical expedients intended to ease the burden of adoption. The Company adopted this new standard January 1, 2019 using the effective date method and elected certain practical expedients allowing the Company not to reassess:

 

whether expired or existing contracts contain leases under the new definition of a lease;

 

lease classification for expired or existing leases; and

 

whether previously capitalized initial direct costs would qualify for capitalization under Topic 842.

 

The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less. The Company estimates the adoption of this standard on January 1, 2019 will result in the addition to our consolidated balance sheet of approximately $1.1 million in right-of-use assets and lease liabilities. The standard is not expected to have a material effect on the Company’s consolidated statements of cash flows or operations.

 

Goodwill

 

In January 2017, the FASB issued ASU 2017-04, which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. The standard is effective for fiscal periods beginning after December 15, 2019. Early adoption is permitted for interim and annual goodwill impairment testing dates after January 1, 2017. The Company early adopted this standard in December 2018. The adoption did not have a material effect on the Company’s Consolidated Financial Statements.

XML 21 R9.htm IDEA: XBRL DOCUMENT v3.19.1
SEGMENT REPORTING
12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
SEGMENT REPORTING

The Company views its business in three segments – the IT segment, the professional sales service segment, and the equipment segment. The IT segment includes the operations of NetWolves and VasoHealthcare IT Corp. The professional sales service segment operates through the Vaso Diagnostics subsidiary and is currently engaged solely in the fulfillment of the Company’s responsibilities under our agreement with GEHC. The equipment segment is engaged in designing, manufacturing, marketing and supporting EECP® enhanced external counterpulsation systems both domestically and internationally, as well as the development, production, marketing and supporting of other medical devices.

  

The chief operating decision maker is the Company’s Chief Executive Officer, who, in conjunction with upper management, evaluates segment performance based on operating income and Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization – defined as net (loss) income, plus net interest expense (income), tax expense, depreciation and amortization, and non-cash expenses for share-based compensation). Administrative functions such as finance and human resources are centralized and related expenses allocated to each segment. Other costs not directly attributable to operating segments, such as audit, legal, director fees, investor relations, and others, as well as certain assets – primarily cash balances – are reported in the Corporate entity below. There are no intersegment revenues. Summary financial information for the segments is set forth below:

 

    (in thousands)  
    Year ended December 31,  
    2018     2017  
             
Revenues from external customers            
IT   $ 44,228     $ 42,581  
Professional sales service     25,511       26,443  
Equipment     4,241       3,764  
Total revenues   $ 73,980     $ 72,788  
                 
Gross Profit                
IT   $ 18,379     $ 17,623  
Professional sales service     20,165       20,630  
Equipment     2,580       2,478  
Total gross profit   $ 41,124     $ 40,731  
                 
Operating (loss) income                
IT   $ (3,748 )   $ (3,375 )
Professional sales service     1,958       1,954  
Equipment     (812 )     (1,066 )
Corporate     (1,122 )     (1,345 )
Total operating loss   $ (3,724 )   $ (3,832 )
                 
Depreciation and amortization                
IT   $ 1,968     $ 1,822  
Professional sales service     187       194  
Equipment     367       410  
Corporate     -       -  
Total depreciation and amortization   $ 2,522     $ 2,426  
                 
Capital expenditures                
IT   $ 2,496     $ 2,185  
Professional sales service     4       127  
Equipment     82       43  
Corporate     4       19  
Total cash capital expenditures   $ 2,586     $ 2,374  

  

   

December 31,

2018

   

December 31,

2017

 
             
Identifiable Assets            
IT   $ 28,785     $ 28,320  
Professional sales service     12,193       15,658  
Equipment     6,992       7,830  
Corporate     2,504       4,970  
Total assets   $ 50,474     $ 56,778  

 

For the years ended December 31, 2018 and 2017, GEHC accounted for 34% and 36% of revenue, respectively. Also, GEHC accounted for $7.2 million, or 66%, and $8.9 million, or 67%, of accounts and other receivables at December 31, 2018 and 2017, respectively.

 

Our revenues were derived from the following geographic areas:

 

    (in thousands)  
    Year ended December 31,  
    2018     2017  
Domestic (United States)   $ 71,279     $ 70,719  
Non-domestic (foreign)     2,701       2,069  
    $ 73,980     $ 72,788  

 

XML 22 R10.htm IDEA: XBRL DOCUMENT v3.19.1
ACCOUNTS AND OTHER RECEIVABLES
12 Months Ended
Dec. 31, 2018
Receivables [Abstract]  
ACCOUNTS AND OTHER RECEIVABLES

The following table presents information regarding the Company’s accounts and other receivables as of December 31, 2018 and 2017:

 

    (in thousands)  
    December 31, 2018     December 31, 2017  
             
Trade receivables   $ 15,016     $ 18,056  
Due from employees     6       41  
Allowance for doubtful accounts and                
commission adjustments     (3,994 )     (4,872 )
Accounts and other receivables, net   $ 11,028     $ 13,225  

 

Trade receivables include amounts due for shipped products and services rendered. Amounts currently due under the GEHC Agreement are subject to adjustment in subsequent periods should the underlying sales order amount, upon which the receivable is based, change.

 

Allowance for doubtful accounts and commission adjustments include estimated losses resulting from the inability of our customers to make required payments, and adjustments arising from estimated future changes in sales order amounts that may reduce the amount the Company will ultimately receive under the GEHC Agreement. Due from employees primarily reflects commission advances made to sales personnel.

XML 23 R11.htm IDEA: XBRL DOCUMENT v3.19.1
INVENTORIES, NET
12 Months Ended
Dec. 31, 2018
Inventory Disclosure [Abstract]  
INVENTORIES, NET

Inventories, net of reserves, consisted of the following:

 

    (in thousands)  
    December 31, 2018     December 31, 2017  
             
Raw materials   $ 577     $ 530  
Work in process     388       449  
Finished goods     1,018       1,376  
    $ 1,983     $ 2,355  

 

At December 31, 2018 and 2017, the Company maintained reserves for slow moving inventories of $636,000 and $746,000, respectively.

XML 24 R12.htm IDEA: XBRL DOCUMENT v3.19.1
PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

Property and equipment is summarized as follows:

 

    (in thousands)  
   

December 31,

2018

   

December 31,

2017

 
Office, laboratory and other equipment   $ 3,885     $ 2,953  
Equipment furnished for customer                
or clinical uses     8,167       6,615  
Furniture and fixtures     127       131  
      12,179       9,699  
Less: accumulated depreciation and amortization     (6,370 )     (4,980 )
   Property and equipment, net   $ 5,809     $ 4,719  

 

Assets under capital lease comprised approximately $855,000 and $387,000 of the office, laboratory and other equipment asset class at December 31, 2018 and 2017, respectively, and approximately $60,000 and $0 of the equipment furnished for customer or clinical use asset class at December 31, 2018 and 2017, respectively. Accumulated amortization of assets under capital lease aggregated approximately $250,000 and $103,000 at December 31, 2018 and 2017, respectively. Depreciation expense amounted to approximately $1,489,000 and $1,290,000 for the years ended December 31, 2018 and 2017, respectively. Amortization of assets under capital lease is included in depreciation expense.

XML 25 R13.htm IDEA: XBRL DOCUMENT v3.19.1
GOODWILL AND OTHER INTANGIBLES
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLES

Goodwill of $14,375,000 is attributable to the NetWolves reporting unit within the IT segment. The remaining $2,934,000 of goodwill is attributable to the FGE reporting unit within the Equipment segment. The NetWolves and FGE reporting units had negative net asset carrying amounts at December 31, 2018 and 2017. The changes in the carrying amount of goodwill are as follows:

 

    (in thousands)  
    Year ended December 31,  
    2018     2017  
             
Beginning of year   $ 17,471     $ 17,280  
Foreign currency translation adjustment     (162 )     191  
End of year   $ 17,309     $ 17,471  

 

The Company’s other intangible assets consist of capitalized customer-related intangibles, patent and technology costs, and software costs, as set forth in the following table:

 

    (in thousands)  
   

December 31,

2018

   

December 31,

2017

 
             
Customer-related            
Costs   $ 5,831     $ 5,831  
Accumulated amortization     (3,083 )     (2,501 )
      2,748       3,330  
                 
Patents and Technology                
Costs     2,363       2,331  
Accumulated amortization     (1,532 )     (1,260 )
      831       1,071  
                 
Software                
Costs     2,346       1,819  
Accumulated amortization     (1,185 )     (966 )
      1,161       853  
                 
    $ 4,740     $ 5,254  

  

The Company owns four US utility patents that expire at various times through 2023, and, through our Chinese subsidiaries, we own sixteen invention and utility patents that expire at various times through 2028, as well as fourteen software copyright certificates in China related to proprietary technologies in physiological data acquisition, analysis and reporting. The Company also holds one patent for secure and remote monitoring management through its NetWolves subsidiary. Costs incurred for submitting the applications to the United States Patent and Trademark Office and other foreign authorities for these patents have been capitalized. Patent and technology costs are being amortized using the straight-line method over 10-year and 8-year lives, respectively. The Company begins amortizing patent costs once a filing receipt is received stating the patent serial number and filing date from the Patent Office or other foreign authority. The cost of significant customer-related intangibles is amortized in proportion to estimated total related revenue; cost of other customer-related intangible assets is amortized on a straight-line basis over the asset's estimated economic life of seven years. Software costs are amortized on a straight-line basis over its expected useful life of five years.

 

Amortization expense amounted to approximately $1,033,000 and $1,136,000 for the years ended December 31, 2018 and 2017, respectively. Amortization of intangibles for the next five years is:

 

Years ending December 31,   (in thousands)  
2019     1,017  
2020     934  
2021     858  
2022     562  
2023     328  
Total   $ 3,699  
XML 26 R14.htm IDEA: XBRL DOCUMENT v3.19.1
OTHER ASSETS
12 Months Ended
Dec. 31, 2018
Other Assets [Abstract]  
OTHER ASSETS

Other assets consist of the following:

 

    (in thousands)  
   

December 31,

2018

   

December 31,

2017

 
             
Deferred commission expense - noncurrent   $ 1,978     $ 1,867  
Trade receivables - noncurrent     630       968  
Other, net of allowance for loss on loan receivable of                
  $412 at December 31, 2018 and 2017     459       1,012  
    $ 3,067     $ 3,847  
XML 27 R15.htm IDEA: XBRL DOCUMENT v3.19.1
DEFERRED REVENUE
12 Months Ended
Dec. 31, 2018
Deferred Revenue Disclosure [Abstract]  
DEFERRED REVENUE

The changes in the Company’s deferred revenues are as follows:

 

    (in thousands)  
    Year ended December 31,  
    2018     2017  
             
Deferred revenue at beginning of year   $ 23,066     $ 19,404  
Net additions:                
Deferred extended service contracts     687       705  
Deferred in-service and training     8       20  
Deferred service arrangements     15       43  
Deferred commission revenues     4,960       14,779  
Recognized as revenue:                
Deferred extended service contracts     (628 )     (661 )
Deferred in-service and training     (5 )     (20 )
Deferred service arrangements     (31 )     (45 )
Deferred commission revenues     (9,986 )     (11,159 )
Deferred revenue at end of year     18,086       23,066  
Less: current portion     10,382       15,540  
Long-term deferred revenue at end of year   $ 7,704     $ 7,526  
XML 28 R16.htm IDEA: XBRL DOCUMENT v3.19.1
ACCRUED EXPENSES AND OTHER LIABILITIES
12 Months Ended
Dec. 31, 2018
Payables and Accruals [Abstract]  
ACCRUED EXPENSES AND OTHER LIABILITIES

Accrued expenses and other liabilities consist of the following:

 

    (in thousands)  
   

December 31,

2018

   

December 31,

2017

 
             
Accrued compensation   $ 648     $ 1,181  
Accrued expenses - other     2,092       2,207  
Other liabilities     2,915       1,949  
    $ 5,655     $ 5,337  
XML 29 R17.htm IDEA: XBRL DOCUMENT v3.19.1
RELATED-PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2018
Related Party Transactions [Abstract]  
RELATED-PARTY TRANSACTIONS

In March 2018, the Company sold its interest in the VSK joint venture to PSK for a sales price of $676,000 and executed a distributorship agreement, expiring December 31, 2020, with VSK for the sale of the Company’s EECP® products in certain international markets. The sale resulted in a gain of approximately $212,000 and net cash proceeds of approximately $311,000 after satisfaction of deposits and other payables due to VSK aggregating approximately $365,000 at time of sale. Prior to the sale, the Company’s pro-rata share in VSK’s loss from operations approximated $20,000 for the year ended December 31, 2017, and $9,000 for the three months ended March 31, 2018, and is included in interest and other income, net in the accompanying consolidated statements of operations and comprehensive loss.

  

David Lieberman, a practicing attorney in the State of New York, serves as Vice Chairman of the Board of Directors.  He is currently a senior partner at the law firm of Beckman, Lieberman & Barandes, LLP, which performs certain legal services for the Company. Fees of approximately $340,000 were billed by the firm for each of the years ended December 31, 2018 and 2017, at which dates $28,000 and $0 were outstanding, respectively.

 

On August 6, 2014 the Company acquired all of the outstanding shares of Genwell Instruments Co. Ltd. (“Genwell”), located in Wuxi, China for cash and notes of Chinese Yuan RMB13,250,000 (approximately $2,151,000 at the acquisition date). The Company issued the RMB6,250,000 note as part of the acquisition payment and, in May 2015, modified the note to change the interest rate from 5% to 9% per annum, effective August 28, 2015, and to extend the maturity date from August 26, 2015 to August 26, 2019. In July 2017 and October 2017, the Company made partial principal payments aggregating RMB2,250,000 (approximately $335,000), plus accrued interest, on notes payable to the president of LET and the president of Biox. Unsecured notes and accrued interest aggregating approximately $335,000, and $354,000 was payable to officers of Biox at December 31, 2018 and 2017, respectively.

 

In November and December 2018, the Company issued unsecured notes aggregating $500,000 to certain directors. The notes bore interest at 10% per annum and matured on March 25, 2019. Principal and interest on these notes were paid off upon maturity.

XML 30 R18.htm IDEA: XBRL DOCUMENT v3.19.1
NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS
12 Months Ended
Dec. 31, 2018
Debt and Capital Lease Obligations [Abstract]  
NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS

Notes payable and capital lease obligations consist of the following:

 

    (in thousands)  
   

December 31,

2018

   

December 31,

2017

 
             
Line of credit   $ 4,171     $ 3,393  
Unsecured term loan     145       153  
Note payable     14       -  
Notes payable - MedTech (net of $14 and $46 in                
debt issue costs at December 31, 2018 and 2017)     4,786       4,754  
Notes payable - related parties     827       345  
Capital lease obligations     588       208  
Total debt and lease obligations     10,531       8,853  
Less: current portion (including related parties)     (9,886 )     (3,760 )
    $ 645     $ 5,093  

   

Line of Credit

 

In November 2018, NetWolves' lending institution extended its $4.0 million line of credit. Advances under the line, which expires on June 28, 2019, bear interest at a rate of LIBOR plus 3% (aggregating 5.52% at December 31, 2018 and 3.82% at December 31, 2017, based on the rate of LIBOR plus 2.25% in effect at such date) and are secured by substantially all of the assets of NetWolves Network Services, LLC and guaranteed by Vaso Corporation. At December 31, 2018, the Company had drawn approximately $2.9 million against the line.

 

In November 2018, the Company’s lending institution extended its $2.0 million line of credit agreement with the same institution. Advances under the line, which expires on June 28, 2019, bear interest at a rate of LIBOR plus 3% (aggregating 5.52% at December 31, 2018) and are secured by substantially all of the assets of the Company. At December 31, 2018, the Company had drawn approximately $1.25 million against the line. The line of credit agreement includes certain financial covenants. At December 31, 2018 and 2017, the Company was not in compliance with both such covenants, and the lending institution waived the covenants through June 28, 2019.

 

Unsecured Term Loan

 

In December 2018, Biox extended its one-year unsecured term loan of RMB1,000,000 (approximately $145,000) with a Chinese bank for an additional year maturing on December 6, 2019. The loan bears interest at 4.79% per year.

 

Notes Payable

 

The Company financed certain FGE equipment purchases through an interest-free note payable to a Chinese bank. The note, which is secured by the financed equipment, is payable in 18 monthly installments ending in December 2019.

 

On May 29, 2015, the Company entered into a Note Purchase Agreement with MedTechnology Investments, LLC (“MedTech”) pursuant to which it issued MedTech a secured subordinated promissory note (“Note”) for $3,800,000 for the purchase of NetWolves. MedTech was formed to acquire the Note, and $1,950,000 of the aggregate funds used to acquire the Note was provided by six of our directors. In June 2015, a second Note for $750,000 was issued to MedTech for working capital purposes, of which $250,000 was provided by a director and a director’s relative. In July 2015, an additional $250,000 was borrowed under the Note Purchase Agreement. The Notes bear interest at an annual rate of 9%, mature on May 29, 2019, may be prepaid without penalty, and are subordinated to any current or future Senior Debt as defined in the Subordinated Security Agreement. The Subordinated Security Agreement secures payment and performance of the Company’s obligations under the Notes and as a result, MedTech was granted a subordinated security interest in the Company’s assets.

  

Capital lease obligations

 

In July 2016, the Company entered into two three-year lease agreements for network equipment installed at its Florida data center.  In September 2018, the Company entered into a capital lease, payable quarterly over a 60-month term, for primarily the acquisition of network components in its Florida data center. The fair market value and capital lease liability of the leased equipment at inception was approximately $399,000, of which approximately $78,000 is recorded in current liabilities. In November 2018, the Company entered into an additional capital lease, payable monthly over a 43-month term, for the acquisition of additional network components in its Florida data center. The fair market value and capital lease liability of the leased equipment at inception was approximately $130,000, of which approximately $29,000 is recorded in current liabilities. Assets under capital leases and related accumulated amortization is recorded under property and equipment in the accompanying consolidated balance sheets.  The future minimum lease payments as of December 31, 2018 are set forth in the following table:

 

Years ending December 31,    (in thousands)  
2019     231  
2020     146  
2021     146  
2022     120  
2023     47  
      690  
Portion representing interest     (85 )
Portion representing executory costs     (17 )
Total capital lease obligations   $ 588  

 

Total amounts payable by the Company under its various notes payable and capital lease obligations outstanding as of December 31, 2018 are: 

 

               (in thousands)  

Years ending December 31,

  Notes payable     Capital leases     Total  
                   
2019     9,712     $ 188     $ 9,900  
2020     245       116       361  
2021     -       126       126  
2022     -       112       112  
2023     -       46       46  
Total   $ 9,957     $ 588     $ 10,545  
XML 31 R19.htm IDEA: XBRL DOCUMENT v3.19.1
STOCKHOLDERS' EQUITY
12 Months Ended
Dec. 31, 2018
Equity [Abstract]  
STOCKHOLDERS' EQUITY

Chinese subsidiaries dividends and statutory reserves

 

The payment of dividends by entities organized in China is subject to limitations. In particular, regulations in China currently permit payment of dividends only out of accumulated profits as determined in accordance with PRC accounting standards and regulations. Based on People’s Republic of China (PRC) accounting standards, our Chinese subsidiaries are also required to set aside at least 10% of after-tax profit each year to their general reserves until the accumulative amount of such reserves reaches 50% of the registered capital. As of December 31, 2018 and 2017, statutory reserves aggregating approximately $35,000 were recorded in the Company’s consolidated balance sheets. These reserves are not distributable as cash dividends. In addition, they are required to allocate a portion of their after-tax profit to their staff welfare and bonus fund at the discretion of their respective boards of directors. Moreover, if any of our PRC subsidiaries incurs debt on its own behalf in the future, the instruments governing the debt may restrict its ability to pay dividends or make other distributions to us. Distribution of dividends from the Chinese operating companies to foreign shareholders is subject to a 10% withholding tax.

XML 32 R20.htm IDEA: XBRL DOCUMENT v3.19.1
OPTION PLANS
12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
OPTION PLANS

2010 Stock Option and Stock Issuance Plan

 

On June 17, 2010 the Board of Directors approved the 2010 Stock Plan (the “2010 Plan”) for officers, directors, employees and consultants of the Company. The stock issuable under the 2010 Plan shall be shares of the Company’s authorized but unissued or reacquired common stock. The maximum number of shares of common stock which may be issued under the 2010 Plan is 5,000,000 shares.

 

The 2010 Plan is comprised of two separate equity programs, the Options Grant Program, under which eligible persons may be granted options to purchase shares of common stock, and the Stock Issuance Program, under which eligible persons may be issued shares of common stock directly, either through the immediate purchase of such shares or as a bonus for services rendered to the Company.

 

The 2010 Plan provides that the Board of Directors, or a committee of the Board of Directors, will administer it with full authority to determine the identity of the recipients of the options or shares and the number of options or shares. Options granted under the 2010 Plan may be either incentive stock options or non-qualified stock options. The option price shall be 100% of the fair market value of the common stock on the date of the grant ( or in the case of incentive stock options granted to any individual stockholder possessing more than 10% of the total combined voting power of all voting stock of the Company, 110% of such fair market value). The term of any option may be fixed by the Board of Directors, or its authorized committee, but in no event shall it exceed five years from the date of grant. Options are exercisable upon payment in full of the exercise price, either in cash or in common stock valued at fair market value on the date of exercise of the option.

 

No shares or options were granted under the 2010 Plan during the year ended December 31, 2018.

  

2013 Stock Option and Stock Issuance Plan

 

On October 30, 2013, the Board of Directors approved the 2013 Stock Plan (the “2013 Plan”) for officers, directors, employees and consultants of the Company. The stock issuable under the 2013 Plan shall be shares of the Company’s authorized but unissued or reacquired common stock. The maximum number of shares of common stock which may be issued under the 2013 Plan is 7,500,000 shares.

 

The 2013 Plan is comprised of two separate equity programs, the Options Grant Program, under which eligible persons may be granted options to purchase shares of common stock, and the Stock Issuance Program, under which eligible persons may be issued shares of common stock directly, either through the immediate purchase of such shares or as a bonus for services rendered to the Company. The 2013 Plan provides that the Board of Directors, or a committee of the Board of Directors, will administer it with full authority to determine the identity of the recipients of the options or shares and the number of options or shares.

 

During the year ended December 31, 2018, 475,000 shares of common stock were granted under the 2013 Plan, 320,416 shares were forfeited, and 70,725 shares were withheld for withholding taxes.

 

No options were granted under the 2013 Plan during the year ended December 31, 2018.

 

2016 Stock Option and Stock Issuance Plan

 

On June 15, 2016, the Board of Directors ("Board") approved the 2016 Stock Plan (the "2016 Plan") for officers, directors, and senior employees of the Corporation or any subsidiary of the Corporation.  The stock issuable under the 2016 Plan shall be shares of the Company's authorized but unissued or reacquired common stock.  The maximum number of shares of common stock that may be issued under the 2016 Plan is 7,500,000 shares.

 

The 2016 Plan consists of a Stock Issuance Program, under which eligible persons may, at the discretion of the Board, be issued shares of common stock directly, as a bonus for services rendered or to be rendered to the Corporation or any subsidiary of the Corporation.

 

In March 2018, 725,000 restricted shares of common stock under the 2016 Plan were granted to officers. The shares vested in April 2018. In June 2018, the Company granted 500,000 shares of restricted common stock to employees, vesting over a three year period.

 

No options were granted under the 2016 Plan during the year ended December 31, 2018.

  

The following table summarizes non-vested restricted shares for the year ended December 31, 2018:

 

    Shares Available for Future Issuance     Unvested shares     Weighted Average Grant Date Fair Value  
Balance at December 31, 2016     4,031,946       6,763,125     $ 0.16  
Authorized     -       -     $ -  
Granted     (975,000 )     975,000     $ 0.12  
Vested     -       (3,380,437 )   $ 0.15  
Forfeited     153,730       (153,730 )   $ 0.16  
Balance at December 31, 2017     3,210,676       4,203,958     $ 0.16  
Authorized     -       -     $ -  
Granted     (1,700,000 )     1,700,000     $ 0.06  
Vested     -       (3,125,317 )   $ 0.14  
Forfeited     391,141       (391,141 )   $ 0.16  
Balance at December 31, 2018     1,901,817       2,387,500     $  0.12  

 

There were 68,543,396 remaining authorized shares of common stock after reserves for all stock option plans.

XML 33 R21.htm IDEA: XBRL DOCUMENT v3.19.1
INCOME TAXES
12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
INCOME TAXES

The Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The Tax Act reduces the maximum U.S. federal corporate tax rate from 35% to 21%, allows net operating losses incurred in 2018 and beyond to be carried forward indefinitely, allows alternative minimum tax carryforwards to be partially refunded, beginning in 2018, and fully refunded by 2021, and creates new taxes on certain foreign sourced earnings.

 

The following is a geographical breakdown of loss before the provision for income taxes:

 

    (in thousands)  
    Year ended December 31,  
    2018     2017  
Domestic   $ (3,967 )   $ (4,161 )
Foreign     (152 )     (244 )
Loss before provision for income taxes   $ (4,119 )   $ (4,405 )

  

The provision for income taxes consisted of the following:

 

    (in thousands)  
    Year ended December 31,  
    2018     2017  
Current provision (benefit)            
Federal   $ -     $ (154 )
State     63       59  
Foreign     35       13  
Total current provision (benefit)     98       (82 )
                 
Deferred provision (benefit)                
Federal     (376 )     168  
State     (107 )     48  
Foreign     -       -  
Total deferred provision (benefit)     (483 )     216  
                 
Total income tax provision (benefit)   $ (385 )   $ 134  
                 
Effective income tax rate     9.35 %     -3.04 %

 

Income tax benefit for the year ended December 31, 2018 was $385,000 due primarily to $483,000 in tax benefit related to deferred tax liabilities arising from goodwill generated by the NetWolves acquisition and $63,000 in state income taxes.

 

The following is a reconciliation of the effective income tax rate to the federal statutory rate:

 

    For the year ended  
    December 31, 2018     December 31, 2017  
    %     %  
Federal statutory rate     21.00       34.00  
State income taxes     (0.87 )     (1.34 )
Change in valuation allowance                
  relating to operations     (7.75 )     (42.38 )
Impact of federal statutory rate change     -       (6.44 )
Impact of federal statutory rate change on                
  valuation allowance     -       13.74  
Foreign tax rate differential     -       (2.20 )
R&D credit     (0.22 )     -  
Nondeductible expenses     (3.09 )     (1.93 )
Minimum tax credit refundable     -       3.51  
Other     0.28       -  
      9.35       (3.04 )

  

The effective tax rate increased mainly due to the change from tax expense in 2017 to tax benefit in 2018.

 

As of December 31, 2018, the recorded deferred tax assets were $14,983,000, reflecting an increase of $1,868,000 during the year ended December 31, 2018, which was offset by a valuation allowance of $12,077,000, reflecting an increase of $319,000.

 

The components of our deferred tax assets and liabilities are summarized as follows:

 

    (in thousands)  
   

December 31,

2018

   

December 31,

2017

 
Deferred Tax Assets:            
Net operating loss carryforwards   $ 12,402     $ 10,623  
Amortization     304       262  
Stock-based compensation     16       49  
Allowance for doubtful accounts     88       36  
Reserve for obsolete inventory     239       235  
Tax credits     429       438  
Expense accruals     392       579  
Excess interest carryforwards     171       -  
Deferred revenue     942       893  
Total gross deferred taxes     14,983       13,115  
Valuation allowance     (12,077 )     (11,758 )
Net deferred tax assets     2,906       1,357  
                 
Deferred Tax Liabilities:                
Deferred commissions     (245 )     (224 )
Goodwill     (927 )     (668 )
Differences in timing of revenue recognition     (124 )     (112 )
Depreciation     (1,360 )     (573 )
Total deferred tax liabilities     (2,656 )     (1,577 )
                 
Total deferred tax assets (liabilities)     250       (220 )
                 
                 
Recorded as:                
Non-current deferred tax assets     374       -  
Non-current deferred tax liabilities     (124 )     (220 )
Total deferred tax assets (liabilities)   $ 250     $ (220 )

  

The activity in the valuation allowance is set forth below:

 

    (in thousands)  
    2018     2017  
Valuation allowance, January 1,   $ 11,758     $ 15,695  
Change in valuation allowance     319       (3,937 )
Valuation allowance, December 31,   $ 12,077     $ 11,758  

 

At December 31, 2018, the Company had net operating loss carryforwards for federal and state income tax purposes of approximately $39 million expiring at various dates from 2020 through 2037 and approximately $7 million with no expiration date.

 

Under current tax law, the utilization of tax attributes will be restricted if an ownership change, as defined, were to occur. Section 382 of the Internal Revenue Code provides, in general, that if an “ownership change” occurs with respect to a corporation with net operating and other loss carryforwards, such carryforwards will be available to offset taxable income in each taxable year after the ownership change only up to the “Section 382 Limitation” for each year (generally, the product of the fair market value of the corporation’s stock at the time of the ownership change, with certain adjustments, and a specified long-term tax-exempt bond rate at such time). The Company’s ability to use its loss carryforwards will be limited in the event of an ownership change.

XML 34 R22.htm IDEA: XBRL DOCUMENT v3.19.1
COMMITMENTS AND CONTINGENCIES
12 Months Ended
Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES

Sales representation agreement

 

In December 2017, the Company concluded an amendment of the GEHC Agreement with GEHC, originally signed on May 19, 2010. The amendment extends the term of the original agreement, which began on July 1, 2010 and was previously extended in 2012 and 2015, through December 31, 2022, subject to early termination under certain circumstances, making it the longest extension thus far with a remaining term of five years from December 31, 2017. Under the agreement, VasoHealthcare is the exclusive representative for the sale of select GE Healthcare diagnostic imaging products to specific market segments/accounts in the 48 contiguous states of the United States and the District of Columbia. The circumstances under which early termination of the agreement may occur include: not materially achieving certain sales goals, not maintaining a minimum number of sales representatives, and not meeting various legal and GEHC policy requirements. The Company did not meet the contractual sales goals in 2018. Under the terms of the agreement, the Company is required to lease dedicated computer equipment from GEHC for connectivity to their network and share certain GEHC sales costs.

 

Facility Leases

 

The Company leases a facility in Plainview, New York, under a seven-year agreement expiring in September 2022. The Company also leases offices in New York City under a three-year agreement expiring May 2020. NetWolves houses its operations in leased facilities in Tampa, Florida, under an agreement expiring in May 2020. VHC-IT leases a facility in Nashville, Tennessee pursuant to a one-year lease expiring April 2019. The Company is evaluating possible renewal options and believes sufficient space is available at similar cost in Nashville. FGE leases facilities in Wuxi, China, pursuant to leases expiring in September 2019, August 2020, September 2020, and December 2020. Such leases are renewable upon expiration.

 

Vehicle Lease Agreement

 

The Company provides leased vehicles to the sales team of its professional sales service segment under a closed-end master lease agreement. Vehicles obtained under the terms of the agreement are leased generally for a 36-month term, and payments are fixed for each year of the agreement, subject to readjustment at the beginning of the second and third year.

 

Future rental payments under these operating leases aggregate approximately as follows:

 

For the years ending December 31,                

  (in thousands)  
    Vehicles     Facilities     Total  
2019   $ 289     $ 380     $ 669  
2020     195       230       425  
2021     53       76       129  
2022     -       55       55  
Total   $ 537     $ 741     $ 1,278  

 

Rental expense for all operating leases totaled approximately $816,000 and $770,000 for the years ended December 31, 2018 and 2017, respectively.

 

Employment Agreements

 

On March 21, 2011, the Company entered into an Employment Agreement with its President and Chief Executive Officer, Dr. Jun Ma, for a three-year term ended on March 14, 2014. The agreement was amended in 2013 and again in 2015 to provide for a continuing three-year term, unless earlier terminated by the Company, but in no event can extend beyond March 14, 2021. The Employment Agreement currently provides for annual compensation of $375,000. Dr. Ma shall be eligible to receive a bonus for each fiscal year thereafter during the employment term. The amount and the occasion for payment of such bonus, if any, shall be at the discretion of the Board of Directors. Dr. Ma shall also be eligible for an award under any long-term incentive compensation plan and grants of options and awards of shares of the Company’s stock, as determined at the Board of Directors’ discretion. The Employment Agreement further provides for reimbursement of certain expenses, and certain severance benefits in the event of termination prior to the expiration date of the Employment Agreement.

 

On June 1, 2015, the Company entered into an Employment Agreement with Mr. Peter Castle to be its Chief Operating Officer. The agreement provides for a three-year term ending on June 1, 2018 and shall extend for additional one-year periods annually commencing June 1, 2018, unless earlier terminated by the Company, but in no event can extend beyond June 1, 2021. The Employment Agreement currently provides for annual compensation of $350,000. Mr. Castle shall be eligible to receive a bonus for each fiscal year thereafter during the employment term. The amount and the occasion for payment of such bonus, if any, shall be at the discretion of the Board of Directors. Mr. Castle shall also be eligible for an award under any long-term incentive compensation plan and grants of options and awards of shares of the Company’s stock, as determined at the Board of Directors’ discretion. The Employment Agreement further provides for reimbursement of certain expenses, and certain severance benefits in the event of termination prior to the expiration date of the Employment Agreement.

 

Licensing and Support Service Agreement

 

In 2010, NetWolves executed a licensing and support service agreement for the upgrade of its billing system. The agreement initially was set to expire in December 2014; however, it was extended for a period of two years in June 2013 with an automatic one-year renewal thereafter. In December 2017, the agreement was renewed for an additional three years, expiring December 2020. The agreement provides for monthly recurring charges based on a percentage of billed revenues using these services, which charges aggregated approximately $331,000 and $400,000 for the years ended December 31, 2018 and 2017, respectively.

 

Letters of Credit

 

At December 31, 2018 we are contingently liable under two standby letters of credit approximating $270,500 in total. The letters of credit are being maintained as security for payments to two vendors.

 

Litigation

 

The Company is currently, and has been in the past, a party to various routine legal proceedings, primarily employee related matters, incident to the ordinary course of business. The Company believes that the outcome of all such pending legal proceedings in the aggregate is unlikely to have a material adverse effect on the business or consolidated financial condition of the Company.

 

Foreign operations

 

During the years ended December 31, 2018 and 2017, the Company had and continues to have operations in China. Operating transactions in China are denominated in the Chinese currency called RMB, which is not freely convertible into foreign currencies. Operating internationally involves additional risks relating to such things as currency exchange rates, different legal and regulatory environments, political, economic risks relating to the stability or predictability of foreign governments, differences in the manner in which different cultures do business, difficulties in staffing and managing foreign operations, differences in financial reporting, operating difficulties, and other factors.

 

Commercial law is still developing in China and there are limited legal precedents to follow in commercial transactions. There are many tax jurisdictions each of which may have changing tax laws. Applicable taxes include value added taxes (“VAT”), Enterprise Income Tax, and social (payroll) taxes. Regulations are often unclear. Tax declarations (reports) are subject to review and taxing authorities may impose fines, penalties and interest. These facts create risks in China.

XML 35 R23.htm IDEA: XBRL DOCUMENT v3.19.1
401(k) PLANS
12 Months Ended
Dec. 31, 2018
Retirement Benefits [Abstract]  
401(k) PLANS

The Company maintains a defined contribution plan to provide retirement benefits for its employees - the Vaso Corporation 401(k) Plan adopted in April 1997. As allowed under Section 401(k) of the Internal Revenue Code, the plan provides tax-deferred salary deductions for eligible employees. Employees are eligible to participate in the next quarter enrollment period after employment and participants may make voluntary contributions to the plan up to 80% of their compensation. In the years ended December 31, 2018 and 2017 the Company made discretionary contributions of approximately $96,000 and $116,000, respectively, to match a percentage of employee contributions.

XML 36 R24.htm IDEA: XBRL DOCUMENT v3.19.1
SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
SUBSEQUENT EVENT

In accordance with the original acquisition agreement of Gentone by FGE, in March 2019 the Company's subsidiary Gentone exercised its option to acquire all of the shares of Biox.

 

Subsequent to December 31, 2018, the Company issued notes aggregating $750,000 to certain directors, employees, and a shareholder.   The notes mature at various periods through April 3, 2020 and bear interest at 10% per annum payable quarterly.

 

XML 37 R25.htm IDEA: XBRL DOCUMENT v3.19.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Principles of Consolidation

The consolidated financial statements include the accounts of Vaso Corporation, its wholly-owned subsidiaries, and the variable interest entity where the Company is the primary beneficiary. Significant intercompany balances and transactions have been eliminated.

Variable Interest Entity

Basic Information

 

The Company follows the guidance of accounting for variable interest entities, which requires certain variable interest entities to be consolidated by the primary beneficiary of the entities.

 

Biox is a Variable Interest Entity (“VIE”). Laws and regulations of the Peoples Republic of China (“PRC”) prohibit or restrict companies with foreign ownership from certain activities and benefits including eligibility for certain government grants and certain rebates related to commercial activities. To provide the Company the expected residual returns of the VIE, the Company, through its wholly-owned subsidiary Gentone, entered into a series of contractual arrangements with Biox and its registered shareholders to enable the Company, to:

 

exercise effective control over the VIE;

 

receive substantially all of the economic benefits and residual returns, and absorb substantially all the risks of the VIE as if they were their sole shareholders; and

 

have an exclusive option to purchase all of the equity interests in the VIE.

 

The Company’s management evaluated the relationships between the Company and Biox, and the economic benefits flow of the applicable contractual arrangements. The Company concluded that it is the primary beneficiary of Biox. As a result, the results of operations, assets and liabilities of Biox have been included in the Company’s consolidated financial statements.

 

The significant agreements through which the Company exercises effective control over Biox are:

 

the Exclusive Technical Consulting Services Agreement between Biox and Gentone;

 

the Option Agreement on Purchase of the Equity Interest executed by and among the shareholders of Biox and Gentone;

 

the Equity Pledge Agreement executed by and among the shareholders of Biox and Gentone; and

 

the Powers of Attorney issued by the shareholders of Biox.

  

Financial Information of VIE

 

Liabilities recognized as a result of consolidating this VIE do not represent additional claims on the Company’s general assets. VIE assets can be used to settle obligations of the primary beneficiary. The financial information of Biox, which was included in the accompanying consolidated financial statements, is presented as follows:

 

    (in thousands)  
    As of December 31,  
    2018     2017  
             
Cash and cash equivalents   $ 97     $ 41  
Total assets   $ 1,641     $ 1,599  
Total liabilities   $ 1,662     $ 1,745  

 

 

    (in thousands)  
    Year ended December 31,  
    2018     2017  
             
Total net revenue   $ 2,294     $ 1,597  
                 
Net income (loss)   $ 111     $ (524 )
Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions relate to estimates of collectibility of accounts receivable, the realizability of deferred tax assets, stock-based compensation, values and lives assigned to acquired intangible assets, fair value of reporting units in connection with goodwill impairment test, the adequacy of inventory reserves, variable consideration, and allocation of contract transaction price to performance obligations. Actual results could differ from those estimates.

Revenue Recognition

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). Under the standard, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. ASU 2014-09 replaced most existing revenue recognition guidance in U.S. GAAP. The new standard introduces a five-step process to be followed in determining the amount and timing of revenue recognition. It also provides guidance on accounting for costs incurred to obtain or fulfill contracts with customers, and establishes disclosure requirements which are more extensive than those required under prior U.S. GAAP. Generally, we recognize revenue under Topic 606 for each of our performance obligations either over time (generally, the transfer of a service) or at a point in time (generally, the transfer of a good) as follows:

 

VasoTechnology

 

Revenue relating to recurring managed network and voice services provided by NetWolves are recognized as provided on a monthly basis (“over time”). Non-recurring charges related to the provision of such services are recognized in the period provided (“point in time”). In the IT VAR business, software system installations are recognized upon verification of installation and expiration of an acceptance period (“point in time”). Monthly post-implementation customer support provided under such installations as well as software solutions offered under a monthly Software as a Service (“SaaS”) fee basis are recognized monthly over the contract term (“over time”).

  

VasoHealthcare

 

Commission revenue is recognized when the underlying equipment has been delivered by GEHC and accepted at the customer site in accordance with the terms of the specific sales agreement (“point in time”).

 

VasoMedical

 

In the United States, we recognized revenue from the sale of our medical equipment in the period in which we deliver the product to the customer (“point in time”). Revenue from the sale of our medical equipment to international markets is recognized upon shipment of the product to a common carrier, as are supplies, accessories and spare parts delivered in both domestic and international markets (“point in time”). The Company also recognizes revenue from the maintenance of EECP® systems either on a time and material as-billed basis (“point in time”) or through the sale of a service contract, where revenue is recognized ratably over the contract term (“over time”).

 

Impact of Adoption

 

Effective January 1, 2018, the Company adopted the requirements of Topic 606 using the modified retrospective method, which provided that the cumulative effect from prior periods upon applying the new guidance was recognized in our consolidated balance sheets as of the date of adoption, including an adjustment to retained earnings, and that prior periods are not retrospectively adjusted. The Company elected to apply the modified retrospective method only to contracts that were not completed at January 1, 2018. A summary and discussion of such cumulative effect adjustment and the impact on current period financial statements of adopting Topic 606 is as follows:

 

     (in thousands)  
    Year ended December 31, 2018  
    prior U.S. GAAP     Topic 606 impact     as reported  
STATEMENT OF OPERATIONS                  
Revenues                  
Professional sales services   $ 25,511     $ -     $ 25,511  
Total revenues     73,980       -       73,980  
                         
Gross Profit     41,124       -       41,124  
                         
Operating expenses                        
Selling, general and administrative     44,083       (121 )     43,962  
Operating loss   $ (3,845 )   $ 121     $ (3,724 )

  

     (in thousands)  
    As of December 31, 2018  
    prior U.S. GAAP     Topic 606 impact     as reported  
ASSETS                  
Accounts and other receivables, net   $ 11,028     $ -     $ 11,028  
Deferred commission expense   $ 2,577     $ 8     $ 2,585  
Other assets, net   $ 3,252     $ 190     $ 3,442  
                         
LIABILITIES AND STOCKHOLDERS' EQUITY                        
Deferred revenue - current portion   $ 10,382     $ -     $ 10,382  
Deferred revenue - long term   $ 7,704     $ -     $ 7,704  
Accumulated deficit   $ (56,185 )   $ 261     $ (55,924 )

 

Disaggregation of Revenue

 

The following tables present revenues disaggregated by our business operations and timing of revenue recognition:

 

    Year ended December 31, 2018     Year ended December 31, 2017  
          Professional sales      Equipment                 Professional sales      Equipment        
    IT segment     service segment     segment     Total     IT segment     service segment     segment     Total  
Network services   $ 40,254                 $ 40,254     $ 38,882                 $ 38,882  
Software sales and support     3,974                   3,974       3,699                   3,699  
Commissions             25,511             25,511               26,443             26,443  
Medical equipment sales                     3,151       3,151                       2,660       2,660  
Medical equipment service                     1,090       1,090                       1,104       1,104  
    $ 44,228     $ 25,511     $ 4,241     $ 73,980     $ 42,581     $ 26,443     $ 3,764     $ 72,788  

 

 

    Year ended December 31, 2018     Year ended December 31, 2017  
          Professional sales      Equipment                 Professional sales      Equipment        
    IT segment     service segment     segment     Total     IT segment     service segment     segment     Total  
Revenue recognized over time   $ 39,340     $ -     $ 658     $ 39,998     $ 37,629     $ -     $ 707     $ 38,336  
Revenue recognized at a point in time     4,888       25,511       3,583       33,982       4,952       26,443       3,057       34,452  
    $ 44,228     $ 25,511     $ 4,241     $ 73,980     $ 42,581     $ 26,443     $ 3,764     $ 72,788  

  

Transaction Price Allocated to Remaining Performance Obligations

 

As of December 31, 2018, the aggregate amount of transaction price allocated to performance obligations that are unsatisfied (or partially unsatisfied) for executed contracts approximates $82.2 million, of which we expect to recognize revenue as follows:

 

    Fiscal years of revenue recognition  
    2019     2020     2021     Thereafter  
Unfulfilled performance obligations   $ 41,271     $ 26,087     $ 8,595     $ 6,278  
                                 

 

Contract Liabilities

 

Contract liabilities arise in our IT VAR, VasoHealthcare, and VasoMedical businesses. In our IT VAR business, payment arrangements with clients typically include an initial payment due upon contract signing and milestone-based payments based upon product delivery and go-live, as well as post go-live monthly payments for subscription and support fees. Customer payments received, or receivables recorded, in advance of go-live and customer acceptance, where applicable, are deferred as contract liabilities. Such amounts aggregated approximately $344,000 and $371,000 at December 31, 2018 and 2017, respectively, and are included in accrued expenses and other liabilities in our consolidated balance sheets.

 

In our VasoHealthcare business, we bill amounts for booked orders in advance of customer acceptance of the equipment. Such amounts aggregated approximately $17,098,000 and $22,126,000 at December 31, 2018 and 2017, respectively, and are classified in our consolidated balance sheets into current or long-term deferred revenue. In addition, we record a contract liability for amounts expected to be credited back to GEHC due to customer order reductions. Such amounts aggregated approximately $2,315,000 and $1,143,000 at December 31, 2018 and 2017, respectively, and are included in accrued expenses and other liabilities in our consolidated balance sheets.

 

In our VasoMedical business, we bill amounts for post-delivery services and varying duration service contracts in advance of performance. Such amounts aggregated approximately $988,000 and $941,000 at December 31, 2018 and 2017, respectively, and are classified in our consolidated balance sheets as either current or long-term deferred revenue.

 

During the year ended December 31, 2018, we recognized approximately $7.3 million of revenues that were included in our contract liability balance at the beginning of such period.

 

Costs to Obtain or Fulfill a Contract

 

Topic 606 requires that incremental costs of obtaining a contract are recognized as an asset and amortized to expense in a pattern that matches the timing of the revenue recognition of the related contract. We have determined the only significant incremental costs incurred to obtain contracts with customers within the scope of Topic 606 are certain sales commissions paid to associates. In addition, the Company elected the practical expedient to recognize the incremental costs of obtaining a contract when incurred for contracts where the amortization period for the asset the Company would otherwise have recognized is one year or less.

  

Under prior U.S. GAAP, we recognized sales commissions in our equipment segment as incurred. Under Topic 606, sales commissions applicable to service contracts exceeding one year have been capitalized and amortized ratably over the term of the contract. In our IT VAR business, all commissions paid in advance of go-live were, under prior U.S. GAAP, capitalized as deferred commission expense and charged to expense at go-live or customer acceptance, as applicable. Under Topic 606, IT VAR commissions allocable to multi-year subscription contracts or multi-year post-contract support performance obligations are amortized to expense ratably over the terms of the multi-year periods. IT VAR commissions allocable to other elements continue to be charged to expense at go-live or customer acceptance, as was previously done. At the date of adoption of Topic 606, we recorded an asset, and related adjustment to retained earnings, of approximately $139,000 in our consolidated balance sheets for the amount of unamortized sales commissions for prior periods, as calculated under the new guidance. The impact to our financial statements of adopting Topic 606, as it relates to costs to obtain contracts, was a reduction in commission expense of approximately $121,000 for the year ended December 31, 2018, an increase in deferred commission expense of approximately $8,000, and an increase in long term deferred commission expense (recorded in other assets) of approximately $190,000 (inclusive of the beginning balance adjustment of $139,000).

 

In our professional sales services segment, under both prior U.S. GAAP and Topic 606, commissions paid to our sales force are deferred until the underlying equipment is accepted by the customer.

 

At December 31, 2018, our consolidated balance sheet includes approximately $4,562,000 in capitalized sales commissions to be expensed in future periods, of which $2,585,000 is recorded in deferred commission expense and $1,977,000, representing the long-term portion, is included in other assets.

 

Significant Judgments when Applying Topic 606

 

Contract transaction price is allocated to performance obligations using estimated stand-alone selling price. Judgment is required in estimating stand-alone selling price for each distinct performance obligation. We determine stand-alone selling price maximizing observable inputs such as stand-alone sales when they exist or substantive renewal price charged to clients. In instances where stand-alone selling price is not observable, we utilize an estimate of stand-alone selling price based on historical pricing and industry practices.

 

Certain revenue we record in our professional sales service segment contains an estimate for variable consideration. Due to the tiered structure of our commission rate, which increases as annual targets are achieved, under Topic 606 we record revenue and deferred revenue at the rate we expect to be achieved by year end. Under prior U.S. GAAP, we recognized revenue at the rate achieved at the applicable reporting date. We base our estimate of variable consideration on historical results of previous years’ achievement under the GEHC agreement. Such estimate will be reviewed each quarter and adjusted as necessary. The Company recognized reductions in revenue associated with revisions to variable consideration for previously completed performance obligations of $165,000 for the year ended December 31, 2018.

Shipping and Handling Costs

All shipping and handling expenses are charged to cost of sales. Amounts billed to customers related to shipping and handling costs are included as a component of sales.

Research and Development

Research and development costs attributable to development are expensed as incurred.

Share-Based Compensation

The Company complies with ASC Topic 718, “Compensation – Stock Compensation” (“ASC 718”), and ASC Topic 505, “Equity” (“ASC 505”), which requires all companies to recognize the cost of services received in exchange for equity instruments, to be recognized in the financial statements based on their fair values. For employees and non-employee directors, the fair value is measured on the grant date and for non-employees, the fair value is measured on the measurement date and re-measured at each reporting period until performance is complete. The Company applies an estimated forfeiture rate to the grant date fair value to determine the annual compensation cost of share-based payment arrangements with employees. The forfeiture rate is estimated based primarily on job title and prior forfeiture experience. The Company did not grant any awards to non-employees during the years ended December 31, 2018 and 2017.

 

During the year ended December 31, 2018, the Company granted 975,000 restricted shares of common stock valued at $63,000 to non-officer employees, and 725,000 restricted shares of common stock valued at $44,000 to officers. The 975,000 shares granted to non-officer employees vest at various times over three to five years from the grant date and the 725,000 shares granted to officers vested in April 2018. The total fair value of shares vested during the year ended December 31, 2018 was $385,000 for employees. The weighted average grant date fair value of shares granted during the year ended December 31, 2018 was $0.06 per share.

 

During the year ended December 31, 2017, the Company granted 50,000 restricted shares of common stock valued at $6,000 to non-officer employees, and 925,000 restricted shares of common stock valued at $111,000 to officers. The 975,000 shares granted vested on April 1, 2017. The total fair value of shares vested during the year ended December 31, 2017 was $467,000 for employees. The weighted average grant date fair value of shares granted during the year ended December 31, 2017 was $0.12 per share.

 

The Company did not grant any stock options during the years ended December 31, 2018 or 2017, nor were any options exercised during such periods. No options were outstanding at December 31, 2018 or 2017.

 

Share-based compensation expense recognized for the years ended December 31, 2018 and 2017 was $313,000 and $514,000, respectively, and is recorded in selling, general, and administrative expense in the consolidated statements of operations and comprehensive loss. Unrecognized expense related to existing share-based compensation and arrangements is approximately $207,000 at December 31, 2018 and will be recognized over a weighted-average period of approximately 12 months.

Cash and Cash Equivalents

Cash and cash equivalents represent cash and short-term, highly liquid investments either in certificates of deposit, treasury bills, money market funds, or investment grade commercial paper issued by major corporations and financial institutions that generally have maturities of three months or less from the date of acquisition.

Accounts Receivable, net

The Company’s accounts receivable are due from customers to whom we sell our products and services, distributors engaged in the distribution of our products and from GEHC. Credit is extended based on evaluation of a customer’s financial condition and, generally, collateral is not required. Accounts receivable are generally due 30 to 90 days from shipment and services provided and are stated at amounts due from customers net of allowances for doubtful accounts, returns, term discounts and other allowances. Accounts that are outstanding longer than the contractual payment terms are considered past due. Estimates are used in determining the allowance for doubtful accounts based on the Company’s historical collections experience, current trends, credit policy and a percentage of its accounts receivable by aging category. In determining these percentages, the Company reviews historical write-offs of their receivables. The Company also looks at the credit quality of their customer base as well as changes in their credit policies. The Company continuously monitors collections and payments from our customers, and writes off receivables when all efforts at collection have been exhausted. While credit losses have historically been within expectations and the provisions established, the Company cannot guarantee that it will continue to experience the same credit loss rates that they have in the past.

  

The changes in the Company’s allowance for doubtful accounts and commission adjustments are as follows:

 

    (in thousands)  
    Year ended December 31,  
    2018     2017  
Beginning Balance   $ 4,872     $ 4,159  
Provision for losses on accounts receivable     460       157  
Direct write-offs, net of recoveries     (268 )     (212 )
Commission adjustments     (1,070 )     768  
Ending Balance   $ 3,994     $ 4,872  
Concentrations of Credit Risk

We market our equipment and IT software solutions principally to hospitals, diagnostic imaging centers and physician private practices. We perform credit evaluations of our customers’ financial condition and, as a result, believe that our receivable credit risk exposure is limited. For the years ended December 31, 2018 and 2017, no customer in our equipment or IT segment accounted for 10% or more of revenues or accounts receivable. In our professional sales service segment, 100% of our revenues and accounts receivable are with GEHC; however, we believe this risk is acceptable based on GEHC’s financial position.

 

The Company maintains cash balances in certain U.S. financial institutions, which, at times, may exceed the Federal Depository Insurance Corporation (“FDIC”) coverage of $250,000.  The Company has not experienced any losses on these accounts and believes it is not subject to any significant credit risk on these accounts. In addition, the FDIC does not insure the Company’s foreign bank balances, which aggregated approximately $519,000 and $709,000 at December 31, 2018 and 2017, respectively.

Inventories, net

The Company values inventories in the equipment segment at the lower of cost or net realizable value, with cost being determined on a first-in, first-out basis. The Company occasionally places EECP® systems and other medical device products at various field locations for demonstration, training, evaluation, and other similar purposes at no charge. The cost of these products is transferred to property and equipment and is amortized over two to five years. The Company records the cost of refurbished components of EECP® systems and critical components at cost plus the cost of refurbishment. The Company regularly reviews inventory quantities on hand, particularly raw materials and components, and records a provision for excess and slow moving inventory based primarily on existing and anticipated design and engineering changes to its products as well as forecasts of future product demand.

 

In our IT Segment, we purchase computer hardware and software for specific customer requirements and value such inventories using the specific identification method.

Property and Equipment

Property and equipment, including assets under capital lease, are stated at cost less accumulated depreciation and amortization. Major improvements are capitalized and minor replacements, maintenance and repairs are charged to expense as incurred. Upon retirement or disposal of assets, the cost and related accumulated depreciation are removed from the consolidated balance sheets. Depreciation is expensed over the estimated useful lives of the assets, which range from two to eight years, on a straight-line basis. Accelerated methods of depreciation are used for tax purposes. We amortize leasehold improvements over the useful life of the related leasehold improvement or the life of the related lease, whichever is less.

  

Goodwill and Intangible Assets

Goodwill represents the excess of cost over the fair value of net assets of businesses acquired. The Company accounts for goodwill under the guidance of the ASC Topic 350, “Intangibles: Goodwill and Other”. Goodwill acquired in a purchase business combination is not amortized, but instead tested for impairment, at least annually, in accordance with this guidance. The recoverability of goodwill is subject to an annual impairment test or whenever an event occurs or circumstances change that would more likely than not result in an impairment. The Company tests goodwill for impairment at the reporting unit level on an annual basis as of December 31 and between annual tests when an event occurs or circumstances change that could indicate that the asset might be impaired. In any year, the Company may elect to perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is in excess of its carrying value. If the Company cannot determine qualitatively that the fair value is in excess of the carrying value, or the Company decides to bypass the qualitative assessment, the Company proceeds to the quantitative goodwill impairment test, which compares the fair value of each reporting unit to its carrying amount, including goodwill. If the fair value of each reporting unit exceeds its carrying amount, goodwill is not considered to be impaired. If the carrying amount of a reporting unit exceeds its fair value, sn impairment loss is recognized for an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. No impairment loss was recorded as of December 31, 2018 and 2017.

 

Intangible assets consist of the value of customer contracts and relationships, patent and technology costs, and software. The cost of significant customer-related intangibles is amortized in proportion to estimated total related revenue; cost of other intangible assets is generally amortized on a straight-line basis over the asset's estimated economic life, which range from five to ten years. The Company capitalizes internal use software development costs incurred during the application development stage. Costs related to preliminary project activities, training, data conversion, and post implementation activities are expensed as incurred. The Company capitalized $527,000 and $398,000 in software development costs for the years ended December 31, 2018 and 2017, respectively.

Impairment of Long-Lived Assets

The Company reviews the recoverability of all long-lived assets, including the related useful lives, whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset might not be recoverable. If required, the Company compares the estimated fair value determined by either the undiscounted future net cash flows or appraised value to the related asset’s carrying value to determine whether there has been an impairment. If an asset is considered impaired, the asset is written down to fair value, which is based either on discounted cash flows or appraised values in the period the impairment becomes known. No assets were determined to be impaired as of December 31, 2018 and 2017.

Deferred Revenue

Amounts billable under the agreement with GEHC in advance of customer acceptance of the equipment are recorded initially as deferred revenue, and commission revenue is subsequently recognized as customer acceptance of such equipment is reported to us by GEHC. Similarly, commissions payable to our sales force related to such billings are recorded as deferred commission expense when the associated deferred revenue is recorded. Commission expense is recognized when the corresponding commission revenue is recognized.

 

We record revenue on extended service contracts ratably over the term of the related service contracts. Under the provisions of ASC 606, we defer revenue related to EECP® system sales for the fair value of installation and in-service training to the period when the services are rendered and for service obligations ratably over the service period, which is generally one year. (See Note I)

Income Taxes

Deferred income taxes are recognized for temporary differences between financial statement and income tax bases of assets and liabilities and loss carry-forwards for which income tax benefits are expected to be realized in future years. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized. In estimating future tax consequences, we generally consider all expected future events other than an enactment of changes in the tax laws or rates. Deferred tax assets are continually evaluated for the expected realization. To the extent our judgment regarding the realization of the deferred tax assets changes, an adjustment to the allowance is recorded, with an offsetting increase or decrease, as appropriate, in income tax expense. Such adjustments are recorded in the period in which our estimate as to the realization of the assets changed that it is “more likely than not” that all of the deferred tax assets will be realized. The “realization” standard is subjective and is based upon our estimate of a greater than 50% probability that the deferred tax asset can be realized.

 

The Company also complies with the provisions of ASC Topic 740, “Income Taxes”, which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by the relevant taxing authority based on the technical merits. The tax benefit recognized is measured as the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. Derecognition of a tax benefit previously recognized results in the Company recording a tax liability that reduces ending retained earnings. Based on its analysis, the Company has determined that it has not incurred any liability for unrecognized tax benefits as of December 31, 2018 and 2017. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2018 and 2017. Generally, the Company is no longer subject to income tax examinations by major domestic taxing authorities for years before 2015. According to the China tax regulatory framework, there is no statute of limitations on examination of tax filings by tax authorities. However, the general practice is going back five years. Management is currently unaware of any issues under review that could result in significant payments, accruals or material deviations from its position.

Foreign Currency Translation (Gain) Loss and Comprehensive (Loss) Income

In countries in which the Company operates, and the functional currency is other than the U.S. dollar, assets and liabilities are translated using published exchange rates in effect at the consolidated balance sheet date.  Equity accounts are translated at historical rates except for the changes in accumulated deficit during the year as the result of the income statement translation process. Revenues and expenses and cash flows are translated using a weighted average exchange rate for the period.  Resulting translation adjustments are recorded as a component of accumulated other comprehensive loss on the accompanying consolidated balance sheets.  For the years ended December 31, 2018 and 2017, other comprehensive loss includes (losses) gains of $(257,000) and $271,000, respectively, which were entirely from foreign currency translation.

Net Loss Per Common Share

Basic loss per common share is based on the weighted average number of common shares outstanding without consideration of potential common stock. Diluted earnings per common share is based on the weighted average number of common and potential dilutive common shares outstanding.

   

The following table represents common stock equivalents that were excluded from the computation of diluted earnings per share for the years ended December 31, 2018 and 2017, because the effect of their inclusion would be anti-dilutive.

 

    (in thousands)  
    Year ended December 31,  
    2018     2017  
             
Restricted common stock grants     2,388       4,204  
Reclassifications

Certain reclassifications have been made to prior year amounts to conform with the current year presentation.

Recently Issued Accounting Pronouncements

The Company continually assesses any new accounting pronouncements to determine their applicability to the Company. Where it is determined that a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes a study to determine the consequence of the change to its financial statements and assures that there are proper controls in place to ascertain that the Company’s consolidated financial statements properly reflect the change. New pronouncements assessed by the Company recently are discussed below:

 

Leases

 

In February 2016, The FASB issued ASU 2016-02 (Topic 842), “Leases”. ASU 2016-02 requires that a lessee recognize the assets and liabilities that arise from operating leases. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. In transition, lessees and lessors are required to recognize and measure leases at either the effective date (the “effective date method”) or the beginning of the earliest period presented (the “comparative method”) using a modified retrospective approach. Under the effective date method, the Company’s comparative period reporting is unchanged. In contrast, under the comparative method, the Company’s date of initial application is the beginning of the earliest comparative period presented, and the Topic 842 transition guidance is then applied to all comparative periods presented. Further, under either transition method, the standard includes certain practical expedients intended to ease the burden of adoption. The Company adopted this new standard January 1, 2019 using the effective date method and elected certain practical expedients allowing the Company not to reassess:

 

whether expired or existing contracts contain leases under the new definition of a lease;

 

lease classification for expired or existing leases; and

 

whether previously capitalized initial direct costs would qualify for capitalization under Topic 842.

 

The Company also made the accounting policy decision not to recognize lease assets and liabilities for leases with a term of 12 months or less. The Company estimates the adoption of this standard on January 1, 2019 will result in the addition to our consolidated balance sheet of approximately $1.1 million in right-of-use assets and lease liabilities. The standard is not expected to have a material effect on the Company’s consolidated statements of cash flows or operations.

 

Goodwill

 

In January 2017, the FASB issued ASU 2017-04, which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. The standard is effective for fiscal periods beginning after December 15, 2019. Early adoption is permitted for interim and annual goodwill impairment testing dates after January 1, 2017. The Company early adopted this standard in December 2018. The adoption did not have a material effect on the Company’s Consolidated Financial Statements.

XML 38 R26.htm IDEA: XBRL DOCUMENT v3.19.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Schedule of Variable Interest Entities
    (in thousands)  
    As of December 31,  
    2018     2017  
             
Cash and cash equivalents   $ 97     $ 41  
Total assets   $ 1,641     $ 1,599  
Total liabilities   $ 1,662     $ 1,745  

 

 

    (in thousands)  
    Year ended December 31,  
    2018     2017  
             
Total net revenue   $ 2,294     $ 1,597  
                 
Net income (loss)   $ 111     $ (524 )
Impact of Adopting Topic 606
     (in thousands)  
    Year ended December 31, 2018  
    prior U.S. GAAP     Topic 606 impact     as reported  
STATEMENT OF OPERATIONS                  
Revenues                  
Professional sales services   $ 25,511     $ -     $ 25,511  
Total revenues     73,980       -       73,980  
                         
Gross Profit     41,124       -       41,124  
                         
Operating expenses                        
Selling, general and administrative     44,083       (121 )     43,962  
Operating loss   $ (3,845 )   $ 121     $ (3,724 )

  

     (in thousands)  
    As of December 31, 2018  
    prior U.S. GAAP     Topic 606 impact     as reported  
ASSETS                  
Accounts and other receivables, net   $ 11,028     $ -     $ 11,028  
Deferred commission expense   $ 2,577     $ 8     $ 2,585  
Other assets, net   $ 3,252     $ 190     $ 3,442  
                         
LIABILITIES AND STOCKHOLDERS' EQUITY                        
Deferred revenue - current portion   $ 10,382     $ -     $ 10,382  
Deferred revenue - long term   $ 7,704     $ -     $ 7,704  
Accumulated deficit   $ (56,185 )   $ 261     $ (55,924 )
Disaggregation of Revenue
    Year ended December 31, 2018     Year ended December 31, 2017  
          Professional sales      Equipment                 Professional sales      Equipment        
    IT segment     service segment     segment     Total     IT segment     service segment     segment     Total  
Network services   $ 40,254                 $ 40,254     $ 38,882                 $ 38,882  
Software sales and support     3,974                   3,974       3,699                   3,699  
Commissions             25,511             25,511               26,443             26,443  
Medical equipment sales                     3,151       3,151                       2,660       2,660  
Medical equipment service                     1,090       1,090                       1,104       1,104  
    $ 44,228     $ 25,511     $ 4,241     $ 73,980     $ 42,581     $ 26,443     $ 3,764     $ 72,788  

 

 

    Year ended December 31, 2018     Year ended December 31, 2017  
          Professional sales      Equipment                 Professional sales      Equipment        
    IT segment     service segment     segment     Total     IT segment     service segment     segment     Total  
Revenue recognized over time   $ 39,340     $ -     $ 658     $ 39,998     $ 37,629     $ -     $ 707     $ 38,336  
Revenue recognized at a point in time     4,888       25,511       3,583       33,982       4,952       26,443       3,057       34,452  
    $ 44,228     $ 25,511     $ 4,241     $ 73,980     $ 42,581     $ 26,443     $ 3,764     $ 72,788  
Transaction Price Allocated to Remaining Performance Obligations
    Fiscal years of revenue recognition  
    2019     2020     2021     Thereafter  
Unfulfilled performance obligations   $ 41,271     $ 26,087     $ 8,595     $ 6,278  
                                 
Changes in Allowance for Doubtful Accounts and Commission Adjustments
    (in thousands)  
    Year ended December 31,  
    2018     2017  
Beginning Balance   $ 4,872     $ 4,159  
Provision for losses on accounts receivable     460       157  
Direct write-offs, net of recoveries     (268 )     (212 )
Commission adjustments     (1,070 )     768  
Ending Balance   $ 3,994     $ 4,872  
Common Stock Equivalents Excluded from Computation of Diluted Earnings Per Share
    (in thousands)  
    Year ended December 31,  
    2018     2017  
             
Restricted common stock grants     2,388       4,204  
                 
XML 39 R27.htm IDEA: XBRL DOCUMENT v3.19.1
SEGMENT REPORTING (Tables)
12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Summary Financial Information for Segments
    (in thousands)  
    Year ended December 31,  
    2018     2017  
             
Revenues from external customers            
IT   $ 44,228     $ 42,581  
Professional sales service     25,511       26,443  
Equipment     4,241       3,764  
Total revenues   $ 73,980     $ 72,788  
                 
Gross Profit                
IT   $ 18,379     $ 17,623  
Professional sales service     20,165       20,630  
Equipment     2,580       2,478  
Total gross profit   $ 41,124     $ 40,731  
                 
Operating (loss) income                
IT   $ (3,748 )   $ (3,375 )
Professional sales service     1,958       1,954  
Equipment     (812 )     (1,066 )
Corporate     (1,122 )     (1,345 )
Total operating loss   $ (3,724 )   $ (3,832 )
                 
Depreciation and amortization                
IT   $ 1,968     $ 1,822  
Professional sales service     187       194  
Equipment     367       410  
Corporate     -       -  
Total depreciation and amortization   $ 2,522     $ 2,426  
                 
Capital expenditures                
IT   $ 2,496     $ 2,185  
Professional sales service     4       127  
Equipment     82       43  
Corporate     4       19  
Total cash capital expenditures   $ 2,586     $ 2,374  

  

   

December 31,

2018

   

December 31,

2017

 
             
Identifiable Assets            
IT   $ 28,785     $ 28,320  
Professional sales service     12,193       15,658  
Equipment     6,992       7,830  
Corporate     2,504       4,970  
Total assets   $ 50,474     $ 56,778  
Revenues by Geographic Areas
    (in thousands)  
    Year ended December 31,  
    2018     2017  
Domestic (United States)   $ 71,279     $ 70,719  
Non-domestic (foreign)     2,701       2,069  
    $ 73,980     $ 72,788  
XML 40 R28.htm IDEA: XBRL DOCUMENT v3.19.1
ACCOUNTS AND OTHER RECEIVABLES (Tables)
12 Months Ended
Dec. 31, 2018
Receivables [Abstract]  
Accounts and Other Receivables
    (in thousands)  
    December 31, 2018     December 31, 2017  
             
Trade receivables   $ 15,016     $ 18,056  
Due from employees     6       41  
Allowance for doubtful accounts and                
commission adjustments     (3,994 )     (4,872 )
Accounts and other receivables, net   $ 11,028     $ 13,225  
XML 41 R29.htm IDEA: XBRL DOCUMENT v3.19.1
INVENTORIES, NET (Tables)
12 Months Ended
Dec. 31, 2018
Inventory Disclosure [Abstract]  
Inventories, Net of Reserves
    (in thousands)  
    December 31, 2018     December 31, 2017  
             
Raw materials   $ 577     $ 530  
Work in process     388       449  
Finished goods     1,018       1,376  
    $ 1,983     $ 2,355  
XML 42 R30.htm IDEA: XBRL DOCUMENT v3.19.1
PROPERTY AND EQUIPMENT (Tables)
12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment
    (in thousands)  
   

December 31,

2018

   

December 31,

2017

 
Office, laboratory and other equipment   $ 3,885     $ 2,953  
Equipment furnished for customer                
or clinical uses     8,167       6,615  
Furniture and fixtures     127       131  
      12,179       9,699  
Less: accumulated depreciation and amortization     (6,370 )     (4,980 )
   Property and equipment, net   $ 5,809     $ 4,719  
XML 43 R31.htm IDEA: XBRL DOCUMENT v3.19.1
GOODWILL AND OTHER INTANGIBLES (Tables)
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill
    Year ended December 31,  
       
    2018     2017  
             
Beginning of year   $ 17,471     $ 17,280  
Foreign currency translation adjustment     (162 )     191  
End of year   $ 17,309     $ 17,471  
Schedule of Other Intangible Assets
    (in thousands)  
   

December 31,

2018

   

December 31,

2017

 
             
Customer-related            
Costs   $ 5,831     $ 5,831  
Accumulated amortization     (3,083 )     (2,501 )
      2,748       3,330  
                 
Patents and Technology                
Costs     2,363       2,331  
Accumulated amortization     (1,532 )     (1,260 )
      831       1,071  
                 
Software                
Costs     2,346       1,819  
Accumulated amortization     (1,185 )     (966 )
      1,161       853  
                 
    $ 4,740     $ 5,254  
Amortization of Intangibles
Years ending December 31,   (in thousands)  
2019     1,017  
2020     934  
2021     858  
2022     562  
2023     328  
Total   $ 3,699  
XML 44 R32.htm IDEA: XBRL DOCUMENT v3.19.1
OTHER ASSETS (Tables)
12 Months Ended
Dec. 31, 2018
Other Assets [Abstract]  
Schedule of Other Assets
    (in thousands)  
   

December 31,

2018

   

December 31,

2017

 
             
Deferred commission expense - noncurrent   $ 1,978     $ 1,867  
Trade receivables - noncurrent     630       968  
Other, net of allowance for loss on loan receivable of                
  $412 at December 31, 2018 and 2017     459       1,012  
    $ 3,067     $ 3,847  
XML 45 R33.htm IDEA: XBRL DOCUMENT v3.19.1
DEFERRED REVENUE (Tables)
12 Months Ended
Dec. 31, 2018
Deferred Revenue Disclosure [Abstract]  
Changes in Deferred Revenues
    (in thousands)  
    Year ended December 31,  
    2018     2017  
             
Deferred revenue at beginning of year   $ 23,066     $ 19,404  
Net additions:                
Deferred extended service contracts     687       705  
Deferred in-service and training     8       20  
Deferred service arrangements     15       43  
Deferred commission revenues     4,960       14,779  
Recognized as revenue:                
Deferred extended service contracts     (628 )     (661 )
Deferred in-service and training     (5 )     (20 )
Deferred service arrangements     (31 )     (45 )
Deferred commission revenues     (9,986 )     (11,159 )
Deferred revenue at end of year     18,086       23,066  
Less: current portion     10,382       15,540  
Long-term deferred revenue at end of year   $ 7,704     $ 7,526  
XML 46 R34.htm IDEA: XBRL DOCUMENT v3.19.1
ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)
12 Months Ended
Dec. 31, 2018
Payables and Accruals [Abstract]  
Accrued Expenses and Other Liabilities
    (in thousands)  
   

December 31,

2018

   

December 31,

2017

 
             
Accrued compensation   $ 648     $ 1,181  
Accrued expenses - other     2,092       2,207  
Other liabilities     2,915       1,949  
    $ 5,655     $ 5,337  
XML 47 R35.htm IDEA: XBRL DOCUMENT v3.19.1
NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS (Tables)
12 Months Ended
Dec. 31, 2018
Debt and Capital Lease Obligations [Abstract]  
Schedule of Debt and Lease Obligations
    (in thousands)  
   

December 31,

2018

   

December 31,

2017

 
             
Line of credit   $ 4,171     $ 3,393  
Unsecured term loan     145       153  
Note payable     14       -  
Notes payable - MedTech (net of $14 and $46 in                
debt issue costs at December 31, 2018 and 2017)     4,786       4,754  
Notes payable - related parties     827       345  
Capital lease obligations     588       208  
Total debt and lease obligations     10,531       8,853  
Less: current portion (including related parties)     (9,886 )     (3,760 )
    $ 645     $ 5,093  
Schedule of Future Minimum Lease Payments
Years ending December 31,    (in thousands)  
2019     231  
2020     146  
2021     146  
2022     120  
2023     47  
      690  
Portion representing interest     (85 )
Portion representing executory costs     (17 )
Total capital lease obligations   $ 588  
Schedule of Amounts Payable by the Company Under Various Debt and Capital Lease Obligations
               (in thousands)  

Years ending December 31,

  Notes payable     Capital leases     Total  
                   
2019     9,712     $ 188     $ 9,900  
2020     245       116       361  
2021     -       126       126  
2022     -       112       112  
2023     -       46       46  
Total   $ 9,957     $ 588     $ 10,545  
XML 48 R36.htm IDEA: XBRL DOCUMENT v3.19.1
OPTION PLANS (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Non-vested Restricted Shares
    Shares Available for Future Issuance     Unvested shares     Weighted Average Grant Date Fair Value  
Balance at December 31, 2016     4,031,946       6,763,125     $ 0.16  
Authorized     -       -     $ -  
Granted     (975,000 )     975,000     $ 0.12  
Vested     -       (3,380,437 )   $ 0.15  
Forfeited     153,730       (153,730 )   $ 0.16  
Balance at December 31, 2017     3,210,676       4,203,958     $ 0.16  
Authorized     -       -     $ -  
Granted     (1,700,000 )     1,700,000     $ 0.06  
Vested     -       (3,125,317 )   $ 0.14  
Forfeited     391,141       (391,141 )   $ 0.16  
Balance at December 31, 2018     1,901,817       2,387,500     0.12  
XML 49 R37.htm IDEA: XBRL DOCUMENT v3.19.1
INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Geographical Breakdown of Income before Provision for Income Taxes
    (in thousands)  
    Year ended December 31,  
    2018     2017  
Domestic   $ (3,967 )   $ (4,161 )
Foreign     (152 )     (244 )
Loss before provision for income taxes   $ (4,119 )   $ (4,405 )
Provision for Income Taxes
    (in thousands)  
    Year ended December 31,  
    2018     2017  
Current provision (benefit)            
Federal   $ -     $ (154 )
State     63       59  
Foreign     35       13  
Total current provision (benefit)     98       (82 )
                 
Deferred provision (benefit)                
Federal     (376 )     168  
State     (107 )     48  
Foreign     -       -  
Total deferred provision (benefit)     (483 )     216  
                 
Total income tax provision (benefit)   $ (385 )   $ 134  
                 
Effective income tax rate     9.35 %     -3.04 %
Reconciliation of Effective Income Tax Rate to Federal Statutory Rate
    For the year ended  
    December 31, 2018     December 31, 2017  
    %     %  
Federal statutory rate     21.00       34.00  
State income taxes     (0.87 )     (1.34 )
Change in valuation allowance                
  relating to operations     (7.75 )     (42.38 )
Impact of federal statutory rate change     -       (6.44 )
Impact of federal statutory rate change on                
  valuation allowance     -       13.74  
Foreign tax rate differential     -       (2.20 )
R&D credit     (0.22 )     -  
Nondeductible expenses     (3.09 )     (1.93 )
Minimum tax credit refundable     -       3.51  
Other     0.28       -  
      9.35       (3.04 )
Deferred Tax Assets and Liabilities
    (in thousands)  
   

December 31,

2018

   

December 31,

2017

 
Deferred Tax Assets:            
Net operating loss carryforwards   $ 12,402     $ 10,623  
Amortization     304       262  
Stock-based compensation     16       49  
Allowance for doubtful accounts     88       36  
Reserve for obsolete inventory     239       235  
Tax credits     429       438  
Expense accruals     392       579  
Excess interest carryforwards     171       -  
Deferred revenue     942       893  
Total gross deferred taxes     14,983       13,115  
Valuation allowance     (12,077 )     (11,758 )
Net deferred tax assets     2,906       1,357  
                 
Deferred Tax Liabilities:                
Deferred commissions     (245 )     (224 )
Goodwill     (927 )     (668 )
Differences in timing of revenue recognition     (124 )     (112 )
Depreciation     (1,360 )     (573 )
Total deferred tax liabilities     (2,656 )     (1,577 )
                 
Total deferred tax assets (liabilities)     250       (220 )
                 
                 
Recorded as:                
Non-current deferred tax assets     374       -  
Non-current deferred tax liabilities     (124 )     (220 )
Total deferred tax assets (liabilities)   $ 250     $ (220 )
Valuation Allowance Activity
    (in thousands)  
    2018     2017  
Valuation allowance, January 1,   $ 11,758     $ 15,695  
Change in valuation allowance     319       (3,937 )
Valuation allowance, December 31,   $ 12,077     $ 11,758  
XML 50 R38.htm IDEA: XBRL DOCUMENT v3.19.1
COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Future Rental Payments under Operating Leases

For the years ending December 31,                

        (in thousands)         
    Vehicles     Facilities     Total  
2019   $ 289     $ 380     $ 669  
2020     195       230       425  
2021     53       76       129  
2022     -       55       55  
Total   $ 537     $ 741     $ 1,278  

 

XML 51 R39.htm IDEA: XBRL DOCUMENT v3.19.1
DESCRIPTION OF BUSINESS AND GOING CONCERN ASSESSMENT (Details Narrative)
12 Months Ended
Dec. 31, 2018
Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of business segments 3
XML 52 R40.htm IDEA: XBRL DOCUMENT v3.19.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash and cash equivalents $ 2,668 $ 5,245 $ 7,087
Total net revenue 73,980 72,788  
Net (loss) income (3,734) (4,539)  
Biox [Member]      
Cash and cash equivalents 97 41  
Total assets 1,641 1,599  
Total liabilities 1,662 1,745  
Total net revenue 2,294 1,597  
Net (loss) income $ 111 $ (524)  
XML 53 R41.htm IDEA: XBRL DOCUMENT v3.19.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Revenues    
Total revenues $ 73,980 $ 72,788
Gross Profit 41,124 40,731
Operating expenses    
Selling, general and administrative 43,962 43,618
Operating loss (3,724) (3,832)
ASSETS    
Accounts and other receivables, net 11,028 13,225
Deferred commission expense 2,585 3,649
Other assets, net 3,067 3,847
LIABILITIES AND STOCKHOLDERS' EQUITY    
Deferred revenue - current portion 10,382  
Deferred revenue - long term 7,704  
Accumulated deficit (55,924) (52,329)
Prior U.S. GAAP [Member]    
Revenues    
Total revenues 73,980  
Gross Profit 41,124  
Operating expenses    
Selling, general and administrative 44,083  
Operating loss (3,845)  
ASSETS    
Accounts and other receivables, net 11,028  
Deferred commission expense 2,577  
Other assets, net 3,252  
LIABILITIES AND STOCKHOLDERS' EQUITY    
Deferred revenue - current portion 10,382  
Deferred revenue - long term 7,704  
Accumulated deficit (56,185)  
Topic 606 Impact [Member]    
Revenues    
Total revenues 0  
Gross Profit 0  
Operating expenses    
Selling, general and administrative (121)  
Operating loss 121  
ASSETS    
Accounts and other receivables, net 0  
Deferred commission expense 8  
Other assets, net 190  
LIABILITIES AND STOCKHOLDERS' EQUITY    
Deferred revenue - current portion 0  
Deferred revenue - long term 0  
Accumulated deficit 261  
Professional sales services    
Revenues    
Total revenues 25,511 26,443
Professional sales services | Prior U.S. GAAP [Member]    
Revenues    
Total revenues 25,511  
Professional sales services | Topic 606 Impact [Member]    
Revenues    
Total revenues 0  
Professional Sales Service Segment [Member]    
Revenues    
Total revenues 25,511  
Gross Profit 20,165 20,630
Operating expenses    
Operating loss $ 1,958 $ 1,954
XML 54 R42.htm IDEA: XBRL DOCUMENT v3.19.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Revenue $ 73,980 $ 72,788
Network Services [Member]    
Revenue 40,254 38,882
Software Sales and Support [Member]    
Revenue 3,974 3,699
Commissions [Member]    
Revenue 25,511 26,443
Medical Equipment Sales [Member]    
Revenue 3,151 2,660
Medical Equipment Service [Member]    
Revenue 1,090 1,104
Managed IT systems and services    
Revenue 44,228 42,581
Managed IT systems and services | Network Services [Member]    
Revenue 40,254 38,882
Managed IT systems and services | Software Sales and Support [Member]    
Revenue 3,974 3,699
Managed IT systems and services | Commissions [Member]    
Revenue 0 0
Managed IT systems and services | Medical Equipment Sales [Member]    
Revenue 0 0
Managed IT systems and services | Medical Equipment Service [Member]    
Revenue 0 0
Professional sales services    
Revenue 25,511 26,443
Professional sales services | Network Services [Member]    
Revenue 0 0
Professional sales services | Software Sales and Support [Member]    
Revenue 0 0
Professional sales services | Commissions [Member]    
Revenue 25,511 26,443
Professional sales services | Medical Equipment Sales [Member]    
Revenue 0 0
Professional sales services | Medical Equipment Service [Member]    
Revenue 0 0
Equipment sales and services    
Revenue 4,241 3,764
Equipment sales and services | Network Services [Member]    
Revenue 0 0
Equipment sales and services | Software Sales and Support [Member]    
Revenue 0 0
Equipment sales and services | Commissions [Member]    
Revenue 0 0
Equipment sales and services | Medical Equipment Sales [Member]    
Revenue 3,151 2,660
Equipment sales and services | Medical Equipment Service [Member]    
Revenue $ 1,090 $ 1,104
XML 55 R43.htm IDEA: XBRL DOCUMENT v3.19.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Revenue $ 73,980 $ 72,788
Revenue Recognized over Time [Member]    
Revenue 39,998 38,336
Revenue Recognized at a Point in Time [Member]    
Revenue 33,982 34,452
Managed IT systems and services    
Revenue 44,228 42,581
Managed IT systems and services | Revenue Recognized over Time [Member]    
Revenue 39,340 37,629
Managed IT systems and services | Revenue Recognized at a Point in Time [Member]    
Revenue 4,888 4,952
Professional sales services    
Revenue 25,511 26,443
Professional sales services | Revenue Recognized over Time [Member]    
Revenue 0 0
Professional sales services | Revenue Recognized at a Point in Time [Member]    
Revenue 25,511 26,443
Equipment sales and services    
Revenue 4,241 3,764
Equipment sales and services | Revenue Recognized over Time [Member]    
Revenue 658 707
Equipment sales and services | Revenue Recognized at a Point in Time [Member]    
Revenue $ 3,583 $ 3,057
XML 56 R44.htm IDEA: XBRL DOCUMENT v3.19.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4)
$ in Thousands
Dec. 31, 2018
USD ($)
2019  
Unfulfilled performance obligations $ 41,271
2020  
Unfulfilled performance obligations 26,087
2021  
Unfulfilled performance obligations 8,595
Thereafter  
Unfulfilled performance obligations $ 6,278
XML 57 R45.htm IDEA: XBRL DOCUMENT v3.19.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Accounting Policies [Abstract]    
Beginning Balance $ 4,872 $ 4,159
Provision for losses on accounts receivable 460 157
Direct write-offs, net of recoveries (268) (212)
Commission adjustments (1,070) 768
Ending Balance $ 3,994 $ 4,872
XML 58 R46.htm IDEA: XBRL DOCUMENT v3.19.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 6) - shares
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Restricted Stock [Member]    
Common stock equivalents excluded from computation of diluted earnings per share 2,388 4,204
XML 59 R47.htm IDEA: XBRL DOCUMENT v3.19.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)
$ / shares in Units, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Accounting Policies [Abstract]    
Restricted shares of common stock granted 1,700,000 975,000
Fair value of shares vested $ 385 $ 467
Weighted average grant date fair value $ 0.06 $ 0.12
Share-based compensation expense $ 313 $ 514
Unrecognized expense related to existing share-based arrangements 207  
FDIC uninsured amount 519 709
Capitalized software development costs 527 398
Foreign currency translation gain (loss) $ (257) $ 271
XML 60 R48.htm IDEA: XBRL DOCUMENT v3.19.1
SEGMENT REPORTING (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Total revenues $ 73,980 $ 72,788
Total gross profit 41,124 40,731
Total operating (loss) income (3,724) (3,832)
Depreciation and amortization 2,522 2,426
Total cash capital expenditures 2,586 2,374
Identifiable Assets 50,474 56,778
Information Technology Segment [Member]    
Total revenues 44,228 42,581
Total gross profit 18,379 17,623
Total operating (loss) income (3,748) (3,375)
Depreciation and amortization 1,968 1,822
Total cash capital expenditures 2,496 2,185
Identifiable Assets 28,785 28,320
Professional Sales Service Segment [Member]    
Total revenues 25,511 26,443
Total gross profit 20,165 20,630
Total operating (loss) income 1,958 1,954
Depreciation and amortization 187 194
Total cash capital expenditures 4 127
Identifiable Assets 12,193 15,658
Equipment Segment [Member]    
Total revenues 4,241 3,764
Total gross profit 2,580 2,478
Total operating (loss) income (812) (1,066)
Depreciation and amortization 367 410
Total cash capital expenditures 82 43
Identifiable Assets 6,992 7,830
Corporate [Member]    
Total operating (loss) income (1,122) (1,345)
Depreciation and amortization 0 0
Total cash capital expenditures 4 19
Identifiable Assets $ 2,504 $ 4,970
XML 61 R49.htm IDEA: XBRL DOCUMENT v3.19.1
SEGMENT REPORTING (Details 1) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Total revenues $ 73,980 $ 72,788
UNITED STATES    
Total revenues 71,279 70,719
Non-US [Member]    
Total revenues $ 2,701 $ 2,069
XML 62 R50.htm IDEA: XBRL DOCUMENT v3.19.1
SEGMENT REPORTING (Details Narrative) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Accounts and other receivables $ 11,028 $ 13,225
GE Healthcare [Member] | Sales Revenue, Net [Member]    
Concentration risk percentage 34.00% 36.00%
GE Healthcare [Member] | Accounts and Other Receivables [Member]    
Concentration risk percentage 66.00% 67.00%
Accounts and other receivables $ 7,200 $ 8,900
XML 63 R51.htm IDEA: XBRL DOCUMENT v3.19.1
ACCOUNTS AND OTHER RECEIVABLES (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Receivables [Abstract]    
Trade receivables $ 15,016 $ 18,056
Due from employees 6 41
Allowance for doubtful accounts and commission adjustments (3,994) (4,872)
Accounts and other receivables, net $ 11,028 $ 13,225
XML 64 R52.htm IDEA: XBRL DOCUMENT v3.19.1
INVENTORIES, NET (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Inventory Disclosure [Abstract]    
Raw materials $ 577 $ 530
Work in process 388 449
Finished goods 1,018 1,376
Inventories, net $ 1,983 $ 2,355
XML 65 R53.htm IDEA: XBRL DOCUMENT v3.19.1
INVENTORIES, NET (Details Narrative) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Inventory Disclosure [Abstract]    
Reserves for slow moving inventories $ 636 $ 746
XML 66 R54.htm IDEA: XBRL DOCUMENT v3.19.1
PROPERTY AND EQUIPMENT (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Property and equipment, gross $ 12,179 $ 9,699
Less: accumulated depreciation (6,370) (4,980)
Property and equipment, net 5,809 4,719
Assets under capital lease 915 387
Accumulated amortization of assets under capital lease (250) (103)
Office, Laboratory and Other Equipment [Member]    
Property and equipment, gross 3,885 2,953
Assets under capital lease 855 387
Equipment furnished for customer or clinical uses [Member]    
Property and equipment, gross 8,167 6,615
Assets under capital lease 60 0
Furniture and Fixtures [Member]    
Property and equipment, gross $ 127 $ 131
XML 67 R55.htm IDEA: XBRL DOCUMENT v3.19.1
PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Property, Plant and Equipment [Abstract]    
Depreciation expense $ 1,489 $ 1,290
XML 68 R56.htm IDEA: XBRL DOCUMENT v3.19.1
GOODWILL AND OTHER INTANGIBLES (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]    
Goodwill, Beginning of year $ 17,471 $ 17,280
Foreign currency translation adjustment (162) 191
Goodwill, End of year $ 17,309 $ 17,471
XML 69 R57.htm IDEA: XBRL DOCUMENT v3.19.1
GOODWILL AND OTHER INTANGIBLES (Details 1) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Intangible assets, net $ 4,740 $ 5,254
Customer-Related [Member]    
Costs 5,831 5,831
Accumulated amortization (3,083) (2,501)
Intangible assets, net 2,748 3,330
Patents and Technology [Member]    
Costs 2,363 2,331
Accumulated amortization (1,532) (1,260)
Intangible assets, net 831 1,071
Software [Member]    
Costs 2,346 1,819
Accumulated amortization (1,185) (966)
Intangible assets, net $ 1,161 $ 853
XML 70 R58.htm IDEA: XBRL DOCUMENT v3.19.1
GOODWILL AND OTHER INTANGIBLES (Details 2) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]    
2019 $ 1,017  
2020 934  
2021 858  
2022 562  
2023 328  
Total $ 4,740 $ 5,254
XML 71 R59.htm IDEA: XBRL DOCUMENT v3.19.1
GOODWILL AND OTHER INTANGIBLES (Details Narrative) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]    
Amortization expense $ 1,033 $ 1,136
XML 72 R60.htm IDEA: XBRL DOCUMENT v3.19.1
OTHER ASSETS (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Other Assets [Abstract]    
Deferred commission expense - noncurrent $ 1,978 $ 1,867
Trade receivables - noncurrent 630 968
Other, net of allowance for loss on loan receivable of $412 at December 31, 2018 and 2017 459 1,012
Total $ 3,067 $ 3,847
XML 73 R61.htm IDEA: XBRL DOCUMENT v3.19.1
DEFERRED REVENUE (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Deferred revenue at beginning of year $ 23,066 $ 19,404
Additions
Recognized as revenue
Deferred revenue at end of year 18,086 23,066
Less: current portion 10,382 15,540
Long-term deferred revenue at end of year 7,704 7,526
Extended Service Contracts [Member]    
Additions 687 705
Recognized as revenue (628) (661)
In Service and Training [Member]    
Additions 8 20
Recognized as revenue (5) (20)
Service Arrangements [Member]    
Additions 15 43
Recognized as revenue (31) (45)
Commission Revenues [Member]    
Additions 4,960 14,779
Recognized as revenue $ (9,986) $ (11,159)
XML 74 R62.htm IDEA: XBRL DOCUMENT v3.19.1
ACCRUED EXPENSES AND OTHER LIABILITIES (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Payables and Accruals [Abstract]    
Accrued compensation $ 648 $ 1,181
Accrued expenses - other 2,092 2,207
Other liabilities 2,915 1,949
Accrued expenses and other liabilities $ 5,655 $ 5,337
XML 75 R63.htm IDEA: XBRL DOCUMENT v3.19.1
DEBT AND LEASE OBLIGATIONS (Details) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Debt and lease obligations $ 10,531 $ 8,853
Less: current portion (including related parties) (9,886) (3,760)
Total 645 5,093
Note Payable [Member]    
Debt and lease obligations 14 0
Notes Payable-MedTechnology Investments LLC [Member]    
Debt and lease obligations 4,786 4,754
Notes Payable-Related Parties [Member]    
Debt and lease obligations 827 345
Line of Credit [Member]    
Debt and lease obligations 4,171 3,393
Unsecured Debt [Member]    
Debt and lease obligations 145 153
Capital Lease Obligations [Member]    
Debt and lease obligations $ 588 $ 208
XML 76 R64.htm IDEA: XBRL DOCUMENT v3.19.1
DEBT AND LEASE OBLIGATIONS (Details 1)
$ in Thousands
Dec. 31, 2018
USD ($)
Debt and Capital Lease Obligations [Abstract]  
2019 $ 231
2020 146
2021 146
2022 120
2023 47
Total 690
Portion representing interest (85)
Portion representing executory costs (17)
Total capital lease obligations $ 588
XML 77 R65.htm IDEA: XBRL DOCUMENT v3.19.1
DEBT AND LEASE OBLIGATIONS (Details 2)
$ in Thousands
Dec. 31, 2018
USD ($)
2019 $ 9,900
2020 361
2021 126
2022 112
2023 46
Total 10,545
Loans Payable [Member]  
2019 9,712
2020 245
2021 0
2022 0
2023 0
Total 9,957
Capital Lease Obligations [Member]  
2019 188
2020 116
2021 126
2022 112
2023 46
Total $ 588
XML 78 R66.htm IDEA: XBRL DOCUMENT v3.19.1
OPTION PLANS (Details) - $ / shares
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Weighted average grant date fair value    
Granted $ 0.06 $ 0.12
Restricted Stock [Member]    
Shares available for future issuance    
Balance, beginning of period 3,210,676 4,031,946
Authorized 0 0
Granted (1,700,000) (975,000)
Forfeited 391,141 153,730
Balance, end of period 1,901,817 3,210,676
Unvested shares    
Balance, beginning of period 4,203,958 6,763,125
Granted 1,700,000 975,000
Vested (3,125,317) (3,380,437)
Forfeited (391,141) (153,730)
Balance, end of period 2,387,500 4,203,958
Weighted average grant date fair value    
Balance, beginning of period $ 0.16 $ 0.16
Granted 0.06 0.12
Vested 0.14 0.15
Forfeited 0.16 0.16
Balance, end of period $ 0.12 $ 0.16
XML 79 R67.htm IDEA: XBRL DOCUMENT v3.19.1
INCOME TAXES (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Income Tax Disclosure [Abstract]    
Domestic $ (3,967) $ (4,161)
Foreign (152) (244)
Loss before income taxes $ (4,119) $ (4,405)
XML 80 R68.htm IDEA: XBRL DOCUMENT v3.19.1
INCOME TAXES (Details 1) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Current (benefit) provision    
Federal $ 0 $ (154)
State 63 59
Foreign 35 13
Total current (benefit) provision 98 (82)
Deferred provision    
Federal (376) 168
State (107) 48
Foreign 0 0
Total deferred provision (483) 216
Total provision for income taxes $ (385) $ 134
Effective income tax rate 9.35% (3.04%)
XML 81 R69.htm IDEA: XBRL DOCUMENT v3.19.1
INCOME TAXES (Details 2)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Income Tax Disclosure [Abstract]    
Federal statutory rate 21.00% 34.00%
State income taxes (0.87%) (1.34%)
Change in valuation allowance relating to operations (7.75%) (42.38%)
Impact of federal tax rate decrease 0.00% (6.44%)
Impact of federal statutory rate change on valuation allowance 0.00% 13.74%
Foreign tax rate differential 0.00% (2.20%)
R&D credit (0.22%) 0.00%
Nondeductible expenses (3.09%) (1.93%)
Minimum tax credit refundable 0.00% 3.51%
Other 0.28% 0.00%
Total 9.35% (3.04%)
XML 82 R70.htm IDEA: XBRL DOCUMENT v3.19.1
INCOME TAXES (Details 3) - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Deferred Tax Assets      
Net operating loss carryforwards $ 12,402 $ 10,623  
Amortization 304 262  
Stock-based compensation 16 49  
Allowance for doubtful accounts 88 36  
Reserve for obsolete inventory 239 235  
Tax credits 429 438  
Expense accruals 392 579  
Excess interest carryforwards 171 0  
Deferred revenue 942 893  
Total gross deferred taxes 14,983 13,115  
Valuation allowance (12,077) (11,758) $ (15,695)
Net deferred tax assets 2,906 1,357  
Deferred Tax Liabilities      
Deferred commissions (245) (224)  
Goodwill (927) (668)  
Differences in timing of revenue recognition (124) (112)  
Depreciation (1,360) (573)  
Total deferred tax liabilities (2,656) (1,577)  
Total deferred tax assets (liabilities) 250 (220)  
Recorded as      
Non-current deferred tax assets 374 0  
Non-current deferred tax liabilities (124) (220)  
Total deferred tax assets (liabilities) $ 250 $ (220)  
XML 83 R71.htm IDEA: XBRL DOCUMENT v3.19.1
INCOME TAXES (Details 4) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Income Tax Disclosure [Abstract]    
Valuation allowance, beginning of period $ 11,758 $ 15,695
Change in valuation allowance 319 (3,937)
Valuation allowance, end of period $ 12,077 $ 11,758
XML 84 R72.htm IDEA: XBRL DOCUMENT v3.19.1
INCOME TAXES (Details Narrative) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Income tax expense $ (385) $ 134  
Deferred tax assets 14,983 13,115  
Increase (decrease) in deferred tax assets (319) 3,937  
Valuation allowance 12,077 $ 11,758 $ 15,695
Net operating loss carryforwards $ 46,000    
Minimum [Member]      
Net operating loss carryforwards expiration date Dec. 31, 2020    
Maximum [Member]      
Net operating loss carryforwards expiration date Dec. 31, 2037    
XML 85 R73.htm IDEA: XBRL DOCUMENT v3.19.1
COMMITMENTS AND CONTINGENCIES (Details)
$ in Thousands
Dec. 31, 2018
USD ($)
2019 $ 669
2020 425
2021 129
2022 55
Total 1,278
Vehicles [Member]  
2019 289
2020 195
2021 53
2022
Total 537
Facilities [Member]  
2019 380
2020 230
2021 76
2022 55
Total $ 741
XML 86 R74.htm IDEA: XBRL DOCUMENT v3.19.1
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]    
Rental expense $ 816 $ 770
XML 87 R75.htm IDEA: XBRL DOCUMENT v3.19.1
401(k) PLANS (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Retirement Benefits [Abstract]    
Company's discretionary annual contributions $ 96 $ 116
EXCEL 88 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx M4$L#!!0 ( V!CTX?(\\#P !," + 7W)E;',O+G)E;'.MDD^+ MPD ,Q;]*F?L:5\'#8CUYZ6U9_ )Q)OU#.Y,A$[%^>X>];+=44/ 87O+>CT?V M/S2@=AQ2V\54C'X(J32M:OP"2+8ECVG%D4)6:A:/FD=I(*+ML2'8K-<[D*F' M.>RGGD7E2B.5^S3%":4A+,*P).B0\5?UX^8 TBTH_0(:+L A#&^NQT:E8(C M-R."?S]PN -02P,$% @ #8&/3B?HAPZ" L0 ! !D;V-0&UL38Y-"\(P$$3_2NG=;BGH06) L$?!D_>0;FP@R8;-"OGYIH(? MMWF\81AU8\K(XK%T-8943OTJDH\ Q:X831F:3LTXXFBD(3^ G/,6+V2?$9/ M-(X'P"J8%EQV^3O8:W7..7AKQ%/25V^9"CGIYFHQ*/B76_..7+8\#?NW_+"" MWTG] E!+ P04 " -@8].2'A"/O K @ $0 &1O8U!R;W!S+V-O M&ULS9+/3L,P#(=?!>7>NNE@0-3ULHD32$A, G&+$F^+:/XH,6KW]K1A MZX3@ 3C&_N7S9\F-"D+YB,_1!XQD,%T-MG-)J+!B!Z(@ )(ZH)6I'!-N;.Y\ MM)+&9]Q#D.I#[A'JJEJ"19):DH0)6(29R-I&*Z$B2O+QA-=JQH?/V&685H = M6G24@)<<6#M-#,>A:^ "F&"$T:;O NJ9F*M_8G,'V"DY)#.G^KXO^T7.C3MP M>'MZ?,GK%L8EDD[A^"L90<> *W:>_+I8;[8/K*TK?E]4UP6_V?*EJ&Y%??<^ MN?[PNPA;K\W._&/CLV#;P*^[:+\ 4$L#!!0 ( V!CTZ97)PC$ 8 )PG M 3 >&PO=&AE;64O=&AE;64Q+GAM;.U:6W/:.!1^[Z_0>&?V;0O&-H&V MM!-S:7;;M)F$[4X?A1%8C6QY9)&$?[]'-A#+E@WMDDVZFSP$+.G[SD5'Y^@X M>?/N+F+HAHB4\GA@V2_;UKNW+][@5S(D$4$P&:>O\, *I4Q>M5II ,,X?+&A T%116F]?(+3E M'S/X%/F7/Z3H=,H%N,!M8('_.;Z?D3EJ( MX53"Q,!J9S]6:\?1TDB @LE]E 6Z2?:CTQ4(,@T[.IU8SG9\]L3MGXS*VG0T M;1K@X_%X.+;+THMP' 3@4;N>PIWT;+^D00FTHVG09-CVVJZ1IJJ-4T_3]WW? MZYMHG J-6T_3:W?=TXZ)QJW0> V^\4^'PZZ)QJO0=.MI)B?]KFNDZ19H0D;C MZWH2%;7E0-,@ %AP=M;,T@.67BGZ=90:V1V[W4%<\%CN.8D1_L;%!-9ITAF6 M-$9RG9 %#@ WQ-%,4'RO0;:*X,*2TER0UL\IM5 :")K(@?5'@B'%W*_]]9>[ MR:0S>IU].LYKE']IJP&G[;N;SY/\<^CDGZ>3UTU"SG"\+ GQ^R-;88C'(CN]WV6'WV3T=N(]>I MP+,BUY1&)$6?R"VZY!$XM4D-,A,_")V&F&I0' *D"3&6H8;XM,:L$> 3?;>^ M",C?C8CWJV^:/5>A6$G:A/@01AKBG'/F<]%L^P>E1M'V5;SCFED)O816:I^JAS0^J!XR"@7QN1X^Y7IX"C>6QKQ0KH)[ M ?_1VC?"J_B"P#E_+GW/I>^Y]#VATK\>WZV22$KYI9+2,6D$N!LT$DN/R+RO JQ GH M9%LE"0AMNZ5/U2I77Y:^Y*+@\6^3IKZ%T/BS/^3Q?Y[3-"S-# MMW)+ZK:4OK4F.$KTL@'37[]EUVY".E,%.70[@:0KX# M;;J=W#HXGIB1N0K34I!OP_GIQ7@:XCG9!+E]F%=MY]C1T?OGP5&PH^\\EAW' MB/*B(>ZAAIC/PT.'>7M?F&>5QE T%&ULK"0L1K=@N-?Q+!3@9& MH >#KU$" M\E)58#%;Q@,KD*)\3(Q%Z'#GEUQ?X]&2X]NF9;5NKREW&6TB4CG":9@39ZO* MWF6QP54=SU5;\K"^:CVT%4[/_EFMR)\,$4X6"Q)(8Y07IDJB\QE3ON>;G*YZ(G;ZEW?!8/+]<,E'#^4[YU_T74.N?O;=X_INDSM(3)QYQ1$!=$4" M(Y4U#VT%SU&\Z.9X!ZSAW.;>KC"1:S_6-8> M^3+?.7#;.MX#7N83+$.D?L%]BHJ $:MBOKJO3_DEG#NT>_&!()O\UMND]MW@ M#'S4JUJE9"L1/TL'?!^2!F.,6_0T7X\48JVFL:W&VC$,>8!8\PRA9CC?AT6: M&C/5BZPYC0IO0=5 Y3_;U UH]@TT')$%7C&9MC:CY$X*/-S^[PVPPL2.X>V+ MOP%02P,$% @ #8&/3F\8T4ZX @ S H !@ !X;"]W;W)K MD*1[^P%V/1A M M;\R;DY UTZ8KSTBUDK.C(]45(EE6H)J53;I>NK&]7"_%55=EP_Z9O+O MAE?BODIQ^C[P5)XOV@Z@];)E9_Z3ZU_M7IH>&J(+5=KX=5VEF9\0K?M V!#./&]_RJK*1S#S^]$'30=,2 MQ^WWZ%_'J]*B[J.8J=3LK7N6C7O>NSP(="#C_ ME)#WA-PCH&XI;F]V3+/U4HI[(KOC;9F]17B1F]T_V$&WV>Z=V1YE1F_K;(EN M-DR/V'0(,D+@ 8%,[$& 0 (;$M#)1X%MB* ?$;L0D<-3H. :J:/3$7T"TW.0 MGCMZ/J(7WA:%B"DL, $%)@%]Y@F$B#DL4( "14#'_BD#D,@Q3T&):AWXFWCW;]IAB)(6+*<[F)"H&FQ^'UB9^ H,PD12&8?_CT-W$ MSV(0)I+',)P"<&AP&GRO $PDE6$X"^#0X]1/9@ F=M\(G =(Z''JWVH(XW_Z MT.A37W-Y=F642@[BVK@:;C0ZE&J/KAA!_^%=G?>#R7/9J.1%:%-PN++@)(3F M9BK9@[F/%U-:#IV*G[1M3DU;=O55U]&B[6M'-!2PZW]02P,$% @ #8&/ M3LC@CM6Q! :A@ !@ !X;"]W;W)KLQ!E>I, Q4+LH6J %@BVV?59B)C;6MEQ)B;?_OI+L&/:<8?H2 M77R&/,/+)Y*9'>OF>[N.L9O\V&WW[<-TW76'^RQKG]=Q5[5?ZD/<][^\U,VN MZOK'YC5K#TVL5F/0;IM1GOML5VWVT_EL?/?8S&?U6[?=[.-C,VG?=KNJ^7<1 MM_7Q86JF'R^^;E[7W? BF\\.U6O\,W;?#H]-_Y1=2EEM=G'?;NK]I(DO#].? MS/W2TA P*O[:Q&-[=3\94GFJZ^_#PV^KAVD^.(K;^-P-153]Y3TNXW8[E-3[ M^.=GDG/WO\3UN>_G@I*_CN=ZVX]_)\UO;U;MS*;V57?7C=-WLQ^OQ7/Y'F!Y MYP"Z!!C[:0"? U@$9"=G8ZH_5UTUGS7U<=*<>NM0#8/"W'/?F,_#R['MQM_Z M;-O^[?N%;C>8RW MU_&%2.(D<:-D?TK">R%:HLB1=;H3JSJQZ*043DX2?U6),3E)*XJ*B1)>G.K% M@1>;"R\.:B$A67XJN7'A51<>71CAPF.N9<'"!XJ(7:(]@NHDH!,QD!ZD4)T4Z$2DNRB@DJ*478.:LF3=1ZGZ*-&'%3Y*I6],$*HEJLC9 M(C&'3:Z3*$NC'8.('1CB;K#27\Z(@T MA'Z"]$-*WG+.+Q65ZWLKX48'KD'B6DG*JK"ID:-#UR!UK:2N M0:!RD#-;$2589W3D&F2ND\PU2%276YA2FLR'4"3\Z/ U'KZL+C7N=&@:I*:3 MU#1(1$\%)(0J9RG!*Z.#TR YG22G02R2,5ZZ4536I\:=CD^#_'22GP;1Z+R# M@:>H.+4&(IV?A/R4]2P(R=BO/20A%%5(P9QT?!+BTTE\DL+%G NYN-1DSMG$ MQ*3$"A/QZ20^"<%87 M\"3$HLVA=151P:ET='82LM-+=I)&10DK3>02JRO2R4E(3B_)2DE.5DA)TDSBHA2NR76P_B%II$K\L\UMTYT;+(%-H141^NT8Z1=D!MC M1HQ!NWXFN?6A4XYQ@QXDHUC9H09?^D+6\=J M=7G8QI=NN W]?7,Z_3X]=/7A?+*?7?Z],/\/4$L#!!0 ( V!CT[.*^ER MGP( *H) 8 >&PO=V]R:W-H965T&ULC9;;CILP%$5_ M!?$!@VTNAE$2J:&J6JF5HJG:/CN)DZ !3+&33/^^OA $MC.9/ 3;['V\CC$' M+ZZL?^4G2D7PUM0M7X8G(;KG*.*[$VT(?V(=;>6= ^L;(F2W/T:\ZRG9:U-3 M1PB +&I(U8:KA1[;]*L%.XNZ:NFF#_BY:4C_;TUK=EV&,+P-O%3'DU #T6K1 MD2/]2<6O;M/+7C1&V5<-;7G%VJ"GAV7X"3Z7,%$&K?A=T2N?M .5RI:Q5]7Y MME^&0!'1FNZ$"D'DY4)+6M@-T^K(VI3P.=8 M+N9.#>JUT_=DMER.7E:X6$07%6>0K(T$321HKBA=19R-DDC./T(@+P32_GCJ MQWY_[/7'VI],_#FPDC"25$M:,T51)%8>KBC),?*3)%Z2Q"6!%DGB3)+%V,(M M75%23'*:D:1>DM194WS'GWG]F9N)]=C71H(GD. )6.F6#T0S$NPEP2Y);)$8 M23:9! +]LV >ZV8\N9$\Q8X# M7SN 2Y'9Q<-H\OGS=W;)0]FS?$@ZY_*7-XAY/J T5-'DHZE.,3](?ZQ:'FR9D-]?_94\,":H MC J>9'T]R8/3V*GI0:@FENW>G!Y,1[!N.!E%X_%L]1]02P,$% @ #8&/ M3G!..6!7! &A4 !@ !X;"]W;W)KG?5Y(5Q^%L%GF) M)68/N4?D+%&<7:KZ>[-WKIW\*(MC,Y_NV_;T%$7->N_*O'FL3N[8_6=;U67> M=K?U+FI.MMD<2G=L#M5Q4KOM?/I,3RO# M?<"@^.O@+LW=]:1/Y;6JOO??SYE:N*/J>.A__C)U. M;V/V@??7[[W_/"3?)?.:-VY5%7\?-NU^/DVGDXW;YN>B_59=?G%C0G8Z&;/_ MS;VYHI/W3KHQUE71#'\GZW/35N782V>ES']A@-X#.!; ,7_ M&Z#' /T18(;DK\Z&5'_*VWPQJZO+I+[.UBGO%P4]Z>YAKOO&X=D-_^NR;;K6 MMT5&L^BM[V>4+*\2OI-\***N\]L(C$98L@CGSP.LI$+'> 0-<]!#O+[/@7&\ M@?%FB#?W\=I[!E>)'23'09+H+%5>(D#%29IB+Q9ZL3(7@^-C&!_+7*R7RU42 MW[G4G-K8RP6IE$VPEP1Z2:07;Y1E(D8Q1&P\+T"E$AU8A2GTDLKG&L@E@_&9 MS"7U3RH$Z!F>^'R0S M*L0*#%&2%"7E8Y0D(74J'H\4/9 .K&+&%&5)45(^1ED2L@.%]D&!9,;J+& ( MHY1)@H("*Y Q_!C CWSX,: :V\1/2:HX">W\,/E8 S?LN]%BU]35@[\+72&9 MX3CPXF3,43;@"0>*BC'[&+"/?/:-HN3>K'I48N.+92%#F'\<@YP"=_"S0FA ;[+/^M.VKNUZ4Q MS/[6!LG8IH%ZTA@06@(B]'6@,1^TY(/X/M"@\&UJ_#<"DIG,!@I2!S[=$"%" M7>":UK*F@].,2UK+DI;3+#G&1>T!I]>8IIE MG5IM_"\$I$I#M:QQ+6M4RX%7H\:UK+]>RP;7LOE"+1OY%C=L_#D&*IW$@0DR MN)+-URO9X$HV7ZCD46,_H3@6^0 5I_X)3'1WHE2Z>C<3C?\]J7]+2Z'M-]=',]-?P]KW>'8S-YK=JV*H=3J6U5M:XSJ1X[>WN7 M;VXWA=NV_6727=?7T[KK35N=QI/(Z'8;JW M@P, ( / 8 >&PO=V]R:W-H965T&ULC9=A;YLP$(;_ M"N)[1FQC&ZHDTI(NV:1-JCIM^TP3IT$#G %MMG\_ RZ+SU>Z+PF0Y\ZO+_9[ M>''1]<_FI%0;_"Z+JEF&I[8]WT11LS^I,FO>Z;.JS"]'79=9:V[KQZ@YURH[ M]$%E$='Y7$1EEE?A:M$_NZM7"_W4%GFE[NJ@>2K+K/ZS5H6^+$,2OCRXSQ]/ M;?<@6BW.V:/ZJMIOY[O:W$5CED->JJK)=174ZK@,WY.;'4FZ@)[XGJM+1D@+ !8@S@?#) V@ Y!I"^2M%0W?[ONLW:;+6H]26HAQ5WSKJ% M36ZD61#[[F'___>_F7^L,4^?5X3.%]%SE\@RZX&A#D-<9H,QU&5N,8:YS >, MB5UFBS'<9788(T8F,C49"T/1PM ^0>PDD* P \-[IAH8"<1N?&9FC *4^-:G M!$VX ,5!AU[LX:+-/:4<*AVAS$Q+I6C4KDOE<%=Q_W*I5>0,XI M1Q'(*&#?W@J_\' K32*.#(G*D(@,4-&M],:@$DC=33..D 05DB!"H/\D_F1C MSN#F>8MRQ*2HF!01 [QCG2+^ CQAXS.8OZ2>8,&8@)/WJ1FGGG5L,0SL^YW/ MI(13O$"F<:&M:8Z4""S.M85<@^$RA@:#<%,.0U[IEN0_/,9"4R9CD6LUC,#U MCD+L%;UX$R-(%_.,QD)."85\98L3O!40I!P1##9Q*:T^Y- MS!6$]P:"-0?XFF4AUP<3N,%]"#-"!!-,2 IK@&3C//5?11&.$>]EU*>X>.U= MB^#-BV#="[YM$;\Q$2EC(F&QD :&N6%T=8SHSJ9?LOHQKYK@0;?F1-*?&XY: MM\KDG+\STSN9X_!X4ZACVUU*]Z-QD/WZB]02P,$% @ M#8&/3JYD4YLG!0 UQH !@ !X;"]W;W)KOQ>%%4N 8B%44+= "BRVV?59L)C96LEQ)B;?_OKK%*\\< M[DML*X?DX9#\.!0WUZK^UAR];Q??R^+?.INOAS]Y^7 MJB[SMOM9OZZ;2^WSPU"H+-8416Y=YJ?S#+Z?78]@_6V\TE?_5_^?;KY7/=_5K?:CF<2G]N3M5Y4?N7 MQ^63>LA,TA<8%'^?_+69?5_T77FNJF_]C]\/C\NH=^0+OV_[*O+NX]UGOBCZ MFCH?_TZ5+F]M]@7GWS]J_W7H?->9Y[SQ657\9WJ_RB& M"]!4@&X%E/MI 3T5T#\*F*'SH[.AJ[_D;;[=U-5U48^C==!?,??]P MB-WPOZZW3??T?:MTNEF_]Q5-FMVHH;GFIEAWM=^:(-3$CD1QNF\@DPKM< L: M=D(/Y?7+C D2& B,30RLQL**9E5BTT@66QU6*2 6<)-!) M IRP1G:):(1-@DPJ*##14N@B!1/-,A>IC ;#@S2AN&"F*2VM MD""SELTHS;U(D54F8 ;S41G I"10!:::LB"THC]66%4Q6=XAJ5K%.@[8P8Q4 M$I(FXFXD_\2SL8EDK24FP>2H(P3;@90%07V#P(XY( +BV?+R192,17(Q"I M*)3N$&8F269:/DXD:9@X/DQ I-+ G"&,3)+(M'R02-)P95,^?X&*TE!@,#1) M0M/R39XD#ETD,E(IHE!<,#))YI26[Z^3YJX5GGUG0.1"5C!Z":#7R#0(;*4Y0,B2A( M&4X$9>'8!,[1 MX"!M ZS1&'L:'*5MPOLDD1;'?-<&HI5.0AW"Y-.(?#SIU(!\?#] FD":IS'T M-#B5\R/,3H,3MYAV/\M*[YU@Y&EP*'=\.] 9V)R9DBE*4!@C:&G ?0SVB94"K%D_8,J%;=:3^0 QO,3P/XR=.XG4$Y M)7\Q!>"I K$Q&)T&H%-LW$92L6-YS+=N)%.)"04' ]0 @(K=VT@R6N*O.C*@ MBJ/0\SLWBN6K;JARN%%ZJJO6=P^A3Y^WH\\/M1^%?VOYKW'VOQZN6 M\4=;7:9KI/7M+FO[/U!+ P04 " -@8].ABE>*;$! #2 P & 'AL M+W=O+I'D.#RDJ'="\V@; D7-"@.5I)VKX >YG=S3>8S-+V2K0MD5-#%09O=ON M#TG(CPF_6ACLPB:ADQ/B:W">RHQN@B"04+C (/QQAGN0,A!Y&6\3)YU+!N#2 MOK _Q-Y]+R=AX1[E2UNZ)J-?*"FA$KUTSS@\PM3/-253\]_@#-*G!R6^1H'2 MQB\I>NM032Q>BA+OX]GJ> X3_P6V#N 3@'\"L+%05/Y5.)&G!@=BQMEW(ESQ M=L_];(H0C*.(_[QXZZ/G?'N[2]DY$$TYAS&'+W/F#.;9YQ)\K<2!_P/GZ_#= MJL)=A._^4IBL$R2K!$DD2/[;XEK.]::6*=%JFJ?1=S9YBKV3K8:S(;972IA?)Y X M9'1+/QR/;=VXX&!YVHD:GL#]Z,[&6VQF*5L%VK:HB8$JHW?;XRD)\3'@9PN# M79Q)J.2"^!*,KV5&-T$02"A<8!!^N\(]2!F(O(S7B9/.*0-P>?Y@_Q)K][5< MA(5[E,]MZ9J,'B@IH1*]=(\X/,!4SR=*IN*_P16D#P]*?(X"I8TK*7KK4$TL M7HH2;^/>ZK@/XTVRFV#K #X!^ PXQ#QL3!25?Q9.Y*G!@9BQ]YT(3[P]8TQO!ES!S!//N<@J^E./%_X'P=OEM5N(OP MW1\*]^L$R2I!$@F2_Y:X%G/X*PE;]%2!J>,T65)@K^,D+[SSP-[Q^":_P\=I M_RY,W6I++NC\R\;^5X@.O)3-C1^AQG^PV9!0N7#<^[,9QVPT'';3#V+S-\[? M 5!+ P04 " -@8].#)5-8[4! #2 P & 'AL+W=O=6J=1EMO.\.C+FB 2WF@Q9O* M6"T\FK9FKK,@RDC2BO$D^<*TD"W-T^@[V3PUO5>RA9,EKM=:V+]'4&;(Z(:^ M.9YDW?C@8'G:B1I^@O_5G2Q:;%8II8;62=,2"U5&[S:'XR[@(^!9PN 69Q(J M.1OS$HQO94:3D! H*'Q0$+A=X!Z4"D*8QI])D\XA W%Y?E-_C+5C+6?AX-ZH MW[+T34;WE)10B5[Y)S-\A:F>:TJFXK_#!13"0R88HS#*Q944O?-&3RJ8BA:O MXR[;N _C#;^=:.L$/A'X3-C'.&P,%#-_$%[DJ34#L6/O.Q&>>'/@V)LB.&,K MXATF[]![R3>.>!O>/Q3?[#QVG_(6PM M6T?.QN/+QOY7QGC 5)(K'*$&/]AL**A\.-[@V8YC-AK>=-,/8O,WSO\!4$L# M!!0 ( V!CTXH1G$=LP$ -(# 9 >&PO=V]R:W-H965T9U5')@5C ]?KO M.Z!G;6OZ!9AAWILWPY!/QCZ[#L"3%ZUZ5]#.^^'$F*LZT,+=F0%ZO&F,U<*C M:5OF!@NBCB"M&#\ "E A'*^+%PTC5E &[/K^P?8NU8RU4X>##J2=:^ M*^B1DAH:,2K_:*:/L-3SAI*E^,]P X7A00GFJ(QR<275Z+S1"PM*T>)EWF4? M]VF^29,%M@_@"X"O@&/,P^9$4?E[X4696S,1._=^$.&)DQ/'WE3!&5L1[U"\ M0^^M3(X\9[= M,2BC/_!\[WX>FNPC3"TS\4IOL$V2Y! M%@FR_Y:X%Y/]E81M>JK!MG&:'*G,V,=)WGC7@;WG\4U^A\_3_D785O:.7(W' MEXW];XSQ@%(.=SA"'7ZPU5#0^'!\AV<[C]EL>#,L/XBMW[C\!5!+ P04 M" -@8].KI5B*;4! #2 P &0 'AL+W=O_4M0"!O6AF?TS:$[LB8+UO0PM_8#@S>U-9I$=!T#?.= M U$ED%:,;S9W3 MI:)$EW]D5F>V#D@;.COA>:^%^GD#9(:=;^NYXD4T;HH,5 M62<:^ +A:W=V:+&9I9(:C)?6$ =U3A^VQ],^QJ> ;Q(&OSB36,G%VM=H?*QR MNHF"0$$9(H/ [0J/H%0D0AD_)DXZIXS Y?F=_3G5CK5FXIF8K_!%=0&!Z58([2*I]64O8^6#VQH!0MWL9=FK0/X\V. M3[!U )\ ? 8<4AXV)DK*GT001>;L0-S8^T[$)]X>.?:FC,[4BG2'XCUZK\7V M<)NQ:R2:8DYC#%_&S!$,V><4?"W%B?\#Y^OPW:K"78+O_E!XMTZP7R78)X+] M?TM5+:WJ1)7GCG@7U(C\A^AX_3_EFX1AI/+C;@RZ;^ MU]8&0"F;&QRA%C_8;"BH0SS>X]F-8S8:P7;3#V+S-RY^ 5!+ P04 " - M@8].OMWO6;4! #2 P &0 'AL+W=O"YSB5\<#;SL7'*3,>];" M3W"_^I/Q%EE8:BY!6:X5,M 4^#8]'+,0'P,>.8QV=4:ADK/6S\'X5AY B$#D9?R>.?&2,@#7YU?V^UB[K^7,+-QI\<1KUQ5XCU$-#1N$ M>]#C5YCK^8317/QWN(#PX4&)SU%I8>.*JL$Z+6<6+T6REVGG*N[C=).E,VP; M0&< 70#[F(=,B:+R+\RQ,C=Z1&;J?<_"$Z<'ZGM3!6=L1;SSXJWW7LITO\_) M)1#-,<< M.3,>YZ.Q3ZX#\.1%2>T*VGG?'QAS50>*NRO3@\:;QEC%/9JV9:ZWP.L(4I*E MN]T-4UQH6N;1=[)E;@8OA8:3)6Y0BMO7(T@S%C2A;XY'T78^.%B9][R%K^"_ M]2>+%EM8:J% .V$TL= 4]"XY'/.>F2,@#7YS?VC[%VK.7,'=P;^4/4OBOH+24U-'R0_M&, MGV"NYYJ2N?@O< &)X4$)YJB,='$EU>"\43,+2E'\9=J%COLXW5QG,VP;D,Z M= 'E[DU([%3[WL>GC@YI-B;*CAC*^(=BG?HO93)^R1GET T MQQRGF'0=LT0P9%]2I%LICNE?\'0;GFTJS"(\^TWA/PCVFP3[2+#_;XE;,=D? M2=BJIPIL&Z?)D&PO=V]R:W-H965T M6TKFXC_!%12&1R68H[+*IY54@P]6SRPH18N7:9-TP[,9M@W@,X O@/N4 MATV)DO)W(H@R=W8D;NI]+^(3[X\<>U-%9VI%ND/Q'KW7+$_X'S;?AA4^$AP0]_*+S=)L@V";)$D/VWQ*V8N[^2L%5/ M-;@V39,GE1U,FN25=QG8!Y[>Y'?X-.V?A6NE\>1B [YLZG]C;0"4LKO!$>KP M@RV&@B;$XQL\NVG,)B/8?OY!;/G&Y2]02P,$% @ #8&/3JK,G4^T 0 MT@, !D !X;"]W;W)K&UL?5-AC]L@#/TKB!]P MM+3;M542Z7K3M$F;5-VT[3--G 0=X Q(<_OW Y++LBW:%\#&[_G9F&Q ^^Q: M $]>M#(NIZWWW8DQ5[:@A;O##DRXJ=%JX8-I&^8Z"Z)*(*T8WVS>,BVDH466 M?!=;9-A[)0U<+'&]UL+^/(/"(:=;^NIXDDWKHX,562<:^ +^:W>QP6(S2R4U M&"?1$ MU3A^VI_,^QJ> ;Q(&MSB36,D5\3D:'ZN<;J(@4%#ZR"#"=H-'4"H2 M!1D_)DXZIXS Y?F5_7VJ/=1R%0X>47V7E6]S>J"D@EKTRC_A\ &F>MY0,A7_ M"6Z@0GA4$G*4J%Q:2=D[CWIB"5*T>!EW:=(^C#>[XP1;!_ )P&? (>5A8Z*D M_)WPHL@L#L2.O>]$?.+MB8?>E-&96I'N@G@7O+=B>[S/V"T233'G,88O8^8( M%MCG%'PMQ9G_ ^?K\-VJPEV"[_Y0>%@GV*\2[!/!_K\EKL4<_TK"%CW58)LT M38Z4V)LTR0OO/+ //+W)[_!QVC\+VTCCR!5]>-G4_QK10Y"RN0LCU(8/-AL* M:A^/]^%LQS$;#8_=](/8_(V+7U!+ P04 " -@8].[PG8TK0! #2 P M&0 'AL+W=O2X^_M1LNMZF[<72:1X#@\I*ANL>_(M0" O M6AF?TS:$[L"8+UO0PE_9#@S>U-9I$=!T#?.= U$ED%:,;S;73 MI:)$EW\D5 MF>V#D@9.COA>:^%^'D'9(:=;^NJXETT;HH,562<:^ [A1W=R:+&9I9(:C)?6 M$ =U3F^WA^,^QJ> !PF#7YQ)K.1L[5,TOE0YW41!H* ,D4'@=H$[4"H2H8SG MB9/.*2-P>7YE_Y1JQUK.PL.=58^R"FU.;RBIH!:]"O=V^ Q3/>\HF8K_"A=0 M&!Z58([2*I]64O8^6#VQH!0M7L9=FK0/X\WNPP1;!_ )P&? 3 MSVX&PO=V]R:W-H965T MT[1)FVRN:?N9U5')@5C ]?KO.Z!G;6OZ!9AAWILWPY!/QCZ[#L"3%ZUZ5]#. M^^'$F*LZT,+=F0%ZO&F,U<*C:5OF!@NBCB"M&$^2-TP+V=,RC[Z++7,S>B5[ MN%CB1JV%_7D&9::"'NBKXTFVG0\.5N:#:.$+^*_#Q:+%5I9::NB=-#VQT!3T MX7 Z9R$^!GR3,+G-F81*KL8\!^-C7= D" (%E0\, K<;/()2@0AE_%@XZ9HR M +?G5_;WL7:LY2HX@<+PH 1S M5$:YN))J=-[HA06E:/$R[[*/^S3?I,<%M@_@"X"O@&/,P^9$4?D[X4696S,1 M._=^$.&)#R>.O:F",[8BWJ%XA]Y;R9,T9[= M,2D?"K-]@FR7((L$V7]+W(NY_RL)V_14@VWC-#E2F;&/D[SQ MK@/[P..;_ Z?I_VSL*WL';D:CR\;^]\8XP&E)'&UL?5-ACYP@$/TKA!]PN*S=VVS4Y/::IDW: M9'-->Y]9'94S@8HD; MM!;VYQF4&7.ZHV^.)]FT/CA8D?6B@:_@O_47BQ9;6"JIH7/2=,1"G=.'W>F< MAO@8\%W"Z%9G$BJY&O,2C$]53I,@"!24/C (W&[P"$H%(I3Q8^:D2\H 7)_? MV#_$VK&6JW#P:-2SK'R;TR,E%=1B4/[)C!]AKN<=)7/QG^$&"L.#$LQ1&N7B M2LK!>:-G%I2BQ>NTRR[NXW23'F;8-H#/ +X CC$/FQ)%Y>^%%T5FS4CLU/M> MA"?>G3CVI@S.V(IXA^(=>F\%3PX9NP6B.>8\Q?!5S&Z)8,B^I.!;*<[\'SC? MAN\W%>XC?/^'POMM@G23((T$Z7]+W(HY_I6$K7JJP39QFAPIS=#%25YYEX%] MX/%-?H=/T_Y%V$9VCER-QY>-_:^-\8!2DCL&UL?5/;;MP@$/T5Q <$F]TFZ6;ML8T"'A?P.OW[ G8;$M@".O6G4VIZUS_8$Q6[:@ MA;W"'CI_4Z/1PGG3-,SV!D0525HQGB373 O9T2*+OI,I,ARSK1M I\)?"'W"\<:?S31DD^&PG_\/ M6SYQ\1=02P,$% @ #8&/3FFRW>NS 0 T@, !D !X;"]W;W)K&UL?5-A;]P@#/TKB!]0+ES65J]P?&7-F"%N[* M]-#A36VL%AY-VS#76Q!5!&G%^&YWS;20'2VRZ#O9(C.#5[*#DR5NT%K87T=0 M9LQI0M\<#[)I?7"P(NM% X_@O_S_2,)6/=5@FSA-CI1FZ.(DK[S+P-[Q^";OX=.T M?Q.VD9TC9^/Q96/_:V,\H)3=%8Y0BQ]L,134/AQO\&RG,9L,;_KY!['E&Q>O M4$L#!!0 ( V!CT[MBW*>M $ -(# 9 >&PO=V]R:W-H965T?2=;9F;T2O9P]D2-VHM[,\3*#,5-*%O MCB?9=CXX6)D/HH6OX+\-9XL66UEJJ:%WTO3$0E/0A^1XRD)\#/@N87*;,PF5 M7(QY"<:GNJ"'( @45#XP"-RN\ A*!2*4\6/AI&O* -R>W]@_Q-JQEHMP\&C4 MLZQ]5]![2FIHQ*C\DYD^PE+/+25+\9_A"@K#@Q+,41GEXDJJT7FC%Q:4HL7K MO,L^[M-\DZ8+;!_ %P!? ?7OA1=E;LU$[-S[080G3HX<>U,%9VQ% MO$/Q#KW7DB=9SJZ!:(DYS3%\$Y.L$0S9UQ1\+\6)_P/G^_!T5V$:X>D?"F_W M";)=@BP29/\M<2_F[J\D;--3#;:-T^1(9<8^3O+&NP[L X]O\CM\GO8OPK:R M=^1B/+YL[']CC >4KP@ZV&@L:'XSL\VWG,9L.;8?E!;/W&Y2]02P,$ M% @ #8&/3CK2@HJU 0 T@, !D !X;"]W;W)K&UL?5-A;]L@$/TKB!]08I*N661;:CI-J]1*4:=MGXE]ME'!>(#C]M_O MP*[GM=:^ '?<>_?N.-+!V&?7 'CRHE7K,MIXWQT81M_)YJGIO9(MG"QQO=;"OAY!F2&C"7US/,FZ M\<'!\K03-7P'_Z,[6;38S%)*#:V3IB46JHS>)H?C+L3'@)\2!KN6?S/ -IGJN*9F*?X +* P/2C!'892+*REZYXV>6%"*%B_C+MNX M#^/--9]@ZP ^ ?@,V,<\;$P4E7\17N2I-0.Q8^\[$9XX.7#L31&7#\0;/=ARST?"FFWX0F[]Q_@=02P,$% M @ #8&/3FJ*/Y^S 0 T@, !D !X;"]W;W)K&UL?5-A;]P@#/TKB!]0$NZV5:>M>IL3EOG^@-CMFQ!"WN%/73^ID:CA?.F:9CM M#8@J@K1B/$D^,BUD1XLL^DZFR'!P2G9P,L0.6@OS<@2%8TY3^NIXD$WK@H,5 M62\:^ [N1W\RWF(+2R4U=%9B1PS4.;U)#\=]B(\!/R6,=G4FH9(SXF,P[JJ< M)D$0*"A=8!!^N\ M*!6(O(RGF9,N*0-P?7YE_Q)K][6"E:/$^[[.(^3C>[ M=(9M _@,X O@.N9A4Z*H_+-PHL@,CL1,O>]%>.+TP'UORN",K8AW7KSUWDO! M>9*Q2R":8XY3#%_%I$L$\^Q+"KZ5XLC_@_-M^&Y3X2["=W\I?"/_?I-@'PGV M[Y:X%?.O2K;JJ0;3Q&FRI,2ABY.\\BX#>\/CF_P)GZ;]7IA&=I:&PO=V]R:W-H965T)W\?0$[KI/Z!9AA MSIDSPY .:%YL ^#(FU:MS6CC7+=GS!8-:&$OL(/6WU1HM'#>-#6SG0%11I!6 MC&\V5TP+V=(\C;ZCR5/LG9(M' VQO=;"O!] X9#1+?UP/,FZ<<'!\K03-?P" M][L[&F^QF:64&EHKL24&JHS>;O>'),3'@&<)@UV<2:CDA/@2C)]E1C=!$"@H M7& 0?CO#'2@5B+R,UXF3SBD#<'G^8+^/M?M:3L+"':H_LG1-1F\H*:$2O7)/ M./R J9Y+2J;B'^ ,RH<')3Y'@^-T5PQE;$.R_>>N\YYWR7LG,@ MFF(.8PQ?Q&SG".;9YQ1\+<6!_P?GZ_#=JL)=A.\^*4S6"9)5@B02))\(+K^4 MN!9S]24)6_14@ZGC-%E28-_&25YXYX&]Y?%-_H6/T_XH3"U;2T[H_,O&_E>( M#KR4S84?H<9_L-E04+EPO/9G,X[9:#CLIA_$YF^<_P502P,$% @ #8&/ M3G$-W.BZ @ >PL !D !X;"]W;W)K&UL=5;M M;ILP%'T5Q ,4;+Z2*HG4=)HV:9.J3NM^NXF3H )FMI-T;S_;4,:I.]+PS7PY"MDR;H3PFJI>< M[5U0VR0T3-);)K./W2!I/FC9P_O[!_MEMWFSFE2G^ M*)I?]5Z?UO$BCO;\P,Z-?A;7+WS<4!%'X^Z_\0MO#-RNQ&CL1*/<;[0[*RW: MD<4LI67OP[/NW/,Z?*FR,0P'T#& 3@$+IY,,0F[EGYAFFY44UT@.A]\S>\?D MGIJSV=E)=Q3NFUF\,K.7#:75*KE8HA&S'3!TAB$3(C'LDP1%$EMZ$TYQ> 97 MF+GP;*Y>59@@AP2Y(\C_V^+"VR+"++%( 46*6X(L]400)G"2)10I 0'U1! F MPR(5%*D 0>Z)($R!11909 $(2D\$80(7OX0B2T#@7SS"!"Z>I-A!Z2U%[E\] M! 7NG@2<2@"%?_L0%+A^ NWZ0"B@\!, @@(90+"O208H_!R H$ 2$&Q_[.E[X. !5I0 ?7 (,7MSL!X$"59?@,D" QXO,UT&@ M/*"#*P$!-B\*7P>!RH .+@8$.+VX^:=#H$ >4%P.*'!ZX>S463Y0USO]@P]MZ7A30?F^J2#$)J;M:1WQLLGTPE/@X8? MM'VMS+L&UL=53O;ILP$'\5BP>H$R>! M) *DIM.T29L4=5KWV2&7@&IC9IO0O?UL0QBCUR^Q[_C]N;/C2SNE7TT)8,F; M%+7)HM+:9D^I*4J0W#RH!FKWY:*TY-:%^DI-HX&? TD*RA:+F$I>U5&>AMQ1 MYZEJK:AJ.&IB6BFY_G, H;HL6D;WQ'-U+:U/T#QM^!5^@/W9'+6+Z*ARKB34 MIE(UT7#)HL?E_K#S^ !XJ: SDSWQG9R4>O7!UW,6+7Q!(*"P7H&[Y09/((07 M\W#-W-H5/AJ,(WUSQQF5O.8N3E-Z\T( Y]!@VP2Q'!'7J MHP7#+ [L'9WA]!5:X2K05U/W),$%UJC .@BL_VMQ.VL1P^QPDPUJLGDOD"QF M)ACF@Y.,49,8$6 S$PRSPDT2U"1!!-8S$PRSP4VVJ,D6$8AG)ACF@XO?H28[ M1&!^\1AF?O%T\I@DZ&L8(X84JJW#")MDQTGUR,)C_ ?OQ]QWKJ]5;D MP\.[*&7!E;)XNYQ_L#Z%V5\N9&;A3XC>O;)OC/485 MU&P0]EF-WV"N9X?17/QWN(!P<._$:91*F/!%Y6"LDC.+LR+9VS3R+HSCM),F M<]IV IT3Z)*P#SID$@K.[YEE1:;5B/1T]CWS5QP?J#N;T@?#480]9]ZXZ*6@ M^R@C%T\T8XX3AJXP\8(@CGV1H%L21_I/.MU.3S8=)B$]6:NO''XB2#<)TD"0 M?BHQOBIQ"_,?E[M-D=T&07(ELH5)KT3(ZN(DZ"8\68-*-72A75;1I2MN:;CX MO_"II9Z8;GAGT%E9]WS")==*67!6HAOGI75=O"P$U-9/O[JYGM[RM+"JG]N4 M+/^*X@]02P,$% @ #8&/3J_@)R*W 0 T@, !D !X;"]W;W)K&UL;5/M;ML@%'T5Q .4A+AM%-F6FDY3)VU2U&K;;V)? MVZA@7,!Q]_:]8,?S.O\![N6<F M@Q9O*F.U\&C:FKG.@B@C22O&-YL[IH5L:9Y&W\GFJ>F]DBV<+'&]UL+^.8(R M0T:W].IXEG7C@X/E:2=J> '_LSM9M-BL4DH-K9.F)1:JC#YL#\(*IGEM*IN*_PP44PD,F&*,PRL65%+WS1D\J MF(H6[^,NV[@/XTURI:T3^$3@,V$?"6P,%#/_(KS(4VL&8L?>=R(\\?; L3=% M<,96Q#M,WJ'WDO/];.T_Q"VEJTC9^/Q96/_*V,\8"J;&QRA!C_8;"BH?#C>X]F.8S8:WG33#V+S M-\X_ %!+ P04 " -@8].S6$%OK@! #2 P &0 'AL+W=OM<_V1,5NVH(2]P1ZT MOZG1*.&\:1IF>P.BBB0E&4^2.Z9$IVF11=_9%!D.3G8:SH;802EA_IQ XIC3 M'7UU/'5-ZX*#%5DO&O@.[D=_-MYBBTK5*="V0TT,U#E]V!U/AX"/@)\=C'9U M)J&2"^)S,+Y4.4U"0B"A=$%!^.T*CR!E$/)I_)XUZ1(R$-?G5_5/L79?RT58 M>$3YJZM)EVCL=]W&ZV?.9MDW@,X$OA#3&85.@F/E'X421&1R)F7K?B_#$NR/WO2F# M,[8BWOGDK?=>"YZF&;L&H1ESFC!\A=DM".;5EQ!\*\2)OZ/S;?I^,\-]I._7 MT=.[;8'#IL A"AS^*_'^38D;F/OD31"VZJD"T\1ILJ3$0<=)7GF7@7V(C\C^ MP:=I_R9,TVE++NC\R\;^UX@.?"K)C1^AUG^PQ9!0NW#\X,]F&K/)<-C//X@M MW[CX"U!+ P04 " -@8].)E;$_;_=N^/(1C3/M@5PY$6KSN:T=:X_,6;+%K2P=]A# MYV]J-%HX;YJ&V=Z J")(*\9WNX],"]G1(HN^BRDR')R2'5P,L8/6POP]@\(Q MIPE]=3S*IG7!P8JL%PW\!/>KOQAOL86EDAHZ*[$C!NJG[( @4E"XP"+_=X &4"D1>QI^9DRXI W!]?F7_$FOWM5R% MA0=4OV7EVIP>**F@%H-RCSA^A;F>#Y3,Q7^'&R@?'I3X'"4J&U=2#M:AGEF\ M%"U>IEUV<1^GFS298=L /@/X CC$/&Q*%)5_%DX4F<&1F*GWO0A/G)RX[TT9 MG+$5\(IAG7U+PK11G_A^<;\/WFPKW$;Y? M9S\=?-O:_1G3@I>SN_ BU_H,MAH+:A>,G?S;3F$V&PW[^06SY MQL4_4$L#!!0 ( V!CTZZ01Q@U $ )P$ 9 >&PO=V]R:W-H965T M1G]8KCCN>>YPW>DHU2ON@$PZ$WP3F>X,:8_$J*+!@33=[*' MSIY44@EFK*EJHGL%K/1!@A.ZV21$L+;#>>I]9Y6G"LD!Z$8.KW";@< M,[S%[X[GMFZ,@7-'9-/X-7/B1=(%KO?O[)]\[;:6 M"]/P*/G/MC1-AO<8E5"Q@9MG.7Z&N9X8H[GXKW %;N$N$ZM12*[]%Q6#-E+, M+#85P=ZFM>W\.DXG<32'A0/H'$"7@+W7(9.0S_R)&9:G2HY(37??,_>+MT=J M[Z9P3G\5_LPFKZWWFM-#E)*K(YHQIPE#5YCM@B"6?9&@(8D3_2^-) M\H%I(3M:9-%W-D6&@U.R@[,A=M!:F-\G4#CF-*5OCB?9M"XX6)'UHH'OX'[T M9^,MMK!44D-G)7;$0)W3N_1XVH?X&/ L8;2K,PF57!!?@O&ERFD2!(&"T@4& MX;DM)1748E#N" M2G+C1ZCU'VPQ%-0N'#_ZLYG&;#(<]O,/8LLW+OX 4$L#!!0 ( V!CT[Q MP3 =MP$ -(# 9 >&PO=V]R:W-H965TI%"VP)US_8$06W4@F;W2/2A_TV@CF?.F:8GM#; ZDJ0@-$F^ M$,FXPF4>?2=3YGIP@BLX&60'*9GY="PY2YCUKX0>XG_W) M>(LL*C67H"S7"AEH"GR[.QRS@(^ 7QQ&NSJC4,E9ZY=@?*\+G(2$0$#E@@+S MVP7N0(@@Y--XG37Q$C(0U^=W]6^Q=E_+F5FXT^(WKUU7X#U&-31L$.Y9CP\P MUW.-T5S\(UQ >'C(Q,>HM+!Q1=5@G9:SBD]%LK=IYRKNXW23WLRT;0*="70A M[&,<,@6*F=\SQ\K>N^E3),T)Y<@-&.. M$X:N,+L%0;SZ$H)NA3C23W2Z34\W,TPC/5U'O]EO"V2; ED4R/XK,?M0XA;F M^D,0LNJI!-/&:;*HTH.*D[SR+@-[2^.;_(-/T_[$3,N516?M_,O&_C=:._"I M)%=^A#K_P19#0./"\:L_FVG,)L/I?OY!9/G&Y5]02P,$% @ #8&/3LX= ME+NW 0 T@, !D !X;"]W;W)K&UL=5/;;MP@ M$/T5Q <$+^LDJY5M*9LJ:J566J5J^\S:XXO"Q06\3O^^ W9<-W5?@!G..7-A MR$9C7UP+X,FKDMKEM/6^/S+FRA:4<#>F!XTWM;%*>#1MPUQO0521I"3C27+' ME.@T+;+H.]LB,X.7G8:S)6Y02MA?)Y!FS.F.OCF>NZ;UP<&*K!<-? 7_K3]; MM-BB4G4*M.N,)A;JG#[LCJP>C6YU)J.1BS$LP/E4Y34)"(*'T04'@ M=H5'D#((81H_9TVZA S$]?E-_2G6CK5J"D@EH,TC^;\2/, M]=Q2,A?_&:X@$1XRP1BED2ZNI!R<-VI6P524>)WV3L=]G&[2PTS;)O"9P!?" M(<9A4Z"8^0?A19%9,Q([];X7X8EW1XZ]*8,SMB+>8?(.O==BG]QE[!J$9LQI MPO 59K<@&*HO(?A6B!/_A\ZWZ?O-#/>1OE_3D__$3S<%TBB0_E7B_;L2MS"' M=T'8JJ<*;!.GR9'2##I.\LJ[#.P#CV_R!SY-^Q=AFTX[7S;VOS;& Z:2 MW. (M?C!%D-"[6I' QO.S@KI 97?U8V M(HM*V0KH="L[I*#*\&-\/!T;2\7IN%)\I>V-$V&'S JH6(#-\]R_ IS M/WN,YN:_PQ6XA;M*K$?7<=:_T<($.A/HAD F M(U_Y9V98GBHY(C6=?<_<7QP?J3V;PB7]4?AOMGAML]<\B3ZEY.J$9LQIPM 5 M)EX0Q*HO%C1D<:(?Z#1,3X(5)IZ>K.G1?5A@%Q38>8'=NL4XVK08PORGR7W0 M9!\0H!N3$"8)FQR")H> P&YC$L+L-R9D=3L$J-K/A4:%'#H_DZOL,GJ/U-^N M?_!I;G\P5;>=1A=I[!WU-ZF2TH M);JS#3?VJ5@"#I5QVWN[5]/ 3(&1_?P6 MD.5!RO\"4$L#!!0 ( V!CTY*JK9LMP$ -(# 9 >&PO=V]R:W-H M965T0 M..8TH:^.IZYI77"P(NM% U_!?>LOQEML4:DZ!=IVJ(F!.JFU M7(6%1Y0_NLJU.3U24D$M!NF>,O$Q2I0VKJ0-_:\1'?A4=G=^A%K_P19#0NW"\>#/9AJSR7#8SS^( M+=^X^ U02P,$% @ #8&/3B.+;@CL 0 9@4 !D !X;"]W;W)K&UL=51M;YLP$/XKR#^@#B8O- *DIM.T29L4=5KWV8%+ M0+4QLYW0_?O9AC#$KE]B^_R\W)G<9;W2;Z8&L-&[%*W)26UMMZ?4E#5(;AY4 M!ZV[.2LMN75'?:&FT\"K0)*"LM5J2R5O6E)D(7;41::N5C0M''5DKE)R_>< M0O4YB'U*/#X#7 M!GHSVT>^DI-2;_[PMNS.GQ!A=8HP+K(+">E\A6BQ(QS =%;E"3#2+ %B88)L%-MJC)%A%8+TPP MS ?/M4--=HC =F&"87:X28J:I(A NC#!,(\+$SK[GTO0E]#A)BK5M0W391:= MAL@3"WWR#SY,H.]<7YK61"=E7;>%GC@K9<&ELGIPGZYV0V\Z"#A;O]VYO1Y: M?SA8U8U3C4ZCM?@+4$L#!!0 ( V!CT[5PSLEM@$ -(# 9 >&PO M=V]R:W-H965TQ96Y&+WL-%TO< MJ)2PO\\@S530E+XZGOJV\\'!RGP0+7P#_WVX6+38RE+W"K3KC286FH(^I*?S M(<3'@!\]3&YS)J&2JS'/P?A<%S0)@D!"Y0.#P.T&CR!E($(9OQ9.NJ8,P.WY ME?UCK!UKN0H'CT;^[&O?%?1(20V-&*5_,M,G6.JYIV0I_@O<0&)X4((Y*B-= M7$DU.F_4PH)2E'B9]U['?9IO[OD"VP?P!H?=69EF2LUL@6F+.+:%I\=]@L,NP2$2'/XI,7U3XE[,6Y5LTU,%MHW3Y$AE1ATG>>-= M!_8A/B+[&SY/^U=AVUX[7S;VOS'& TI)[G"$.OQ@JR&A\>'X'L]V'K/9 M\&98?A!;OW'Y!U!+ P04 " -@8]. 2,*!+H! #2 P &0 'AL+W=O MV$ *[Y0VRSIW]<7EM*4ON"9XZ.2,85KHH8.YFJT*,37,')(#M* MRGF'NYQ:CN?G/< 'AX4&)KU%K8>,7 MU:-U6LXL7HID;^GD*I[3S']-VTZ@ M'ZB?31V"<13QGQ=O??1295E6D$L@FC''A*$KS'Y!$,^^E*!;)8[TG_0LR[<) MLDV-623(UO7O_T.0;Q+DD2#_2\'MNR83YBYB5,*\*T%6,Y5@NKA-%M5Z5'&3 M5]%E81]HO),_\+3M7YCIN++HK)V_V3C_5FL'7LCNQJ]0[Q_8X@AH73#OO6W2 MFB7'Z6%^061YQM5O4$L#!!0 ( V!CTZ7E+CSD0( +$( 9 >&PO M=V]R:W-H965T*RO<(G9/>MR)+R="6\1%EYX]UE.,CLJI;;S ]V.O177G;G)EV]--3BZ\ MJ3N\IPZ[M"VB?POZKX;$^5UP:O$W>HS/^B?E3OZ>BYXU1CG6+.U:3 MSJ'XM'8?P&H'E(-2_*KQC4W:CBSE0,BS['P[KEU?$N$&EUR&0.)UQ5O<-#*2 MX/@S!'7'G-)QVGZ-_D45+XHY((:WI/E='WFU=E/7.>(3NC3\D=R^XJ&@R'6& MZK_C*VZ$7)*('"5IF'HZY85QT@Y1!$J+7O2[[M3[IK\DZ>!F=P@&AV!T /&' M#G!P@&\.X8<.X> 0&@Z>+D6-S0YQM,DIN3E4_]X>R5D$5J$8_5(:U6"K;V)X MF+!>-Q#&N7>5@09-H37!1 -&A2>BCRD"6XHBF+D'[Q-LYPJ386>1P,1. :V% M0A4@G 9(C3JU)%*23H/&L2':SD51$$8&[5R4^.D";FC%#>>X,UZMB:=98);Z M!K!%%21I:H>)K##1# 9 :,!$LS1W,(&A 6-1A1',[#"Q%2:VC,Q"@,0:(/G_ M3$AFF%EB5#*7A NK(K52I'.*T/AU13K+ >))%@UB$479PH!D5I3,@F)D*3(+ M2FRN8XLHF:R-=RC M^]'_BE9G(G-*JX[YAP(%Z>*VOM/A' L(/U[@5>)^\/8:?")RV8BVE0?HKK#23]<$+SQ MEK+Y!U!+ P04 " -@8].\6)DB<$$ #5&0 &0 'AL+W=OVV]R^_6S'S<7B7YWN);$=4B0E_4A&7IZJ^ENSL[:=?2^+0W,WW[7M M\3:*FLW.EGGSJ3K:0_?+=O=UB]1RS*O_WVP176ZFZOY^X.O^Y==VS^(5LMC_F+_L.V?Q\>Z MNXLNHVSWI3TT^^HPJ^WSW?Q>W:Z306&0^&MO3\W5]:P/Y:FJOO4WOV[OYG'O MD2WLINV'R+NO-[NV1=&/U/GQSSCH_&*S5[R^?A_]RQ!\%\Q3WMAU5?R]W[:[ MNWDVGVWM<_Y:M%^KTR]V#,C,9V/TO]DW6W3BO2>=C4U5-,/G;//:M%4YCM*Y M4N;?S]_[P_!]&L=_5\,*-"K014$E'RKPJ, _%/00_-FS(=3/>9NOEG5UFM7G MU3KF_:90M]Q-YJ9_.,S=\%L7;=,]?5NQIF7TU@\TRCR<9>A*1ETDHF[TBPE" M)AY(J#L&UE*"$VR!81 \Z/.5_H*POH;Z>M#7U_KLS,%9Q PBAT$DY446.X$ M*4JS#/MBH"]&^,+:=>8LDUR9T4J1=IP!4G'*GJ5+H#.)G-@4ZZ=0/Y43FSFQ MI-)+7B3N#D%2B?),; 9]R<#$.E/VD DS-YR*B452&7MVW (ZLQ 3R]K@ 52, MP8U!/(E+;BQ<52HF9PW62(R)? YY,HD2#LE,HH0A,IEQW9%2G.B%QQN8=.X5 M"6^4B5UW2!J*D]1U!TAEVL.!PAE*R13%WB%PDE(R2QFQWEHN9,R99VLJG($4 M2D$NMDIFES2-M<<0SBXJ$892E\A19@*;,0O!))0C)M^NP?E*R83%WHV'TXS* M@HN1PKE!+?Z_'(TRD^F?U*-I7<8IA% *<2V1S W38C.UA',#J>!"0IAGDCR+ M4D(25*WCC#V&,*G$ 75B%')*@"^#$P::='@1((PJ(53=I$ 2U6D1F%K"K))D M561WD@R227WKC DD2:#,VR3; 2;CH8PPIR0Y]69DPJ"2!%5D9)*@?I"1&8/* M"%1W][,$U9^1&7/*LH:+C,RR.M^8KA?S[%S&/+/DF8TG?;&GZP]O^QD3R &- M/\N2ZG,3,\HA'3U+1GU6,)\AS3B+'MLOQU, M)_]$CZTQ=SJDQ]:2.\_2:0R=#FBAJ MS[_Q@$97!U.I,94ZI,G5P51J3*4.Z' UJ)J)9ZMKC*X&1=/WYUAC*G5XVZHQ M;SJ@;=6R&I(Q2DW%UD@LT=K3R!D,KP'P&L^\&DRF 6VK9U(,QLZ ME68I6XYRI0+&'/]"<8JR0.;C023%4BZYUL $8A M,RE%QCVXPE)NSQM='8:7MGX9WALTLTWU>FC[8^>KIY=W$_?4'Z8[SQ_4[?K\ MAN'',.<7'K_G]JK:MRN% _;FJ6MLY&7_JW-O9?'NY*>QSVU^FW75] M?M%POFFKX_@2);J\R5G]!U!+ P04 " -@8].51R@@1T$ #"%@ &0 M 'AL+W=O!=&;>?KAU)N!CXC\!G./B%% ?IE9757VO3U(V MSH\B+^NU>VJ:\Y/GU;N3+-+ZDSK+LOWGH*HB;=K#ZNC5YTJF^WY2D7OD^Z%7 MI%GI;E;]V&NU6:E+DV>E?*V<^E(4:?7S1>;JNG:9^S'P-3N>FF[ VZS.Z5'^ M(YM_SZ]5>^3=HNRS0I9UIDJGDH>U^\R>MB+I)O2*;YF\UG?[3I?*FU+?NX._ M]VO7[QS)7.Z:+D3:;M[E5N9Y%ZGU\?\8U+V=LYMXO_\1_<\^^3:9M[266Y7_ ME^V;T]J-768Z?RNO]U=I>Z4<48 MI;52I#^&;5;VV^L8_V,:GD#C!+I-8.'B!#Y.X+\GB#[YP5F?ZA]IDVY6E;HZ MU7"WSFGW4+ GWE[,73?87[O^OS;;NAU]W_! K+SW+M"H>1DT=*=A-X771K^= M@M I7DB;3M,3;'4%#_$9.$R"]_/%)(E@EL2@"7I-V6LBGL3^S E0413'V(R M9@0P8\@F@ $"BVP&37CG4_@TOW%;7<7C."9L)H1F0F FP@$B&""RR";2?2;1 M/!D@"I,$6XFAE1A8,=S:! 9(+'))-)L4!(S-D@&J4 B.S3 ?EZX/[!@N"#-4 M/[/(:!1-KCP+YAD!%86A;[ #2?',2+=C#(%1P&Q8,(KNO3(_F;, J9@O#'8P M#)A. \8,]<,P#I@-#Q@ @B"*YRD!&06Q ><,(X$!)H2F$!@*S(8*3*]X!#D@ M6Z RH0/I=3\OI$7) MU CF B$N& J1,!?(A@ND5[R6RY)D:@03@<#Z( P,(3 1R(8(I)>ZELN29&H$ MDX!T$C!F>*,2)@'9D(#T$DX.A90S+SL\8Q M"SAB@0'S'+. V[" /V;!HF1J!+. @U5!9 J!6-; :B$RO/X%)( )(L.:36 2"!L2B,DPQ 80- 018\.O?HT!E_AX5F ,"K 4BPUI-8 X(&PZ,HONV$_@>12K]>]2[ MZ_P5LCKV3=+:V:E+V70]MKO16R/VF;K.X6S\A3UMAW;J[S!#=_=+6AVSLG;> M5-.HHN\>'I1J9&O2_]3:.\ET?SO(Y:'I=J-VOQJZJL-!H\YCQ]B[M:TWOP!0 M2P,$% @ #8&/3N]';T8: P '@T !D !X;"]W;W)K&ULC5?M;ILP%'T5Q ,4?,UGE41J,DV;M$E5IW6_:>(DJ( S["3= MV\\VE!)\7?&G8.?J7/6_K0JIA>PC$J67%S@3550!AF 1U43;^:F'F'MO5@I]E53;LL?7$N:Z+ M]M^:5?RZ](G_/O%4'HY23P2KQ:DXL%],_CX]MFH4#%EV9E,BL??/JD_ MK*D#Q^_OV;\:\4K,2R'8AE=_RIT\+OW,]W9L7YPK^<2OWU@O*/:]7OT/=F&5 M@FLF:HTMKX3YZVW/0O*ZSZ*HU,5;]RP;\[SV^=_#\ #H V ((,FG ;0/H!\! MD1'?,3-2OQ2R6"U:?O7:[K1.A;X4Y)ZJS=SJ2;-WYC>E5JC9RXJFR2*XZ$0] M9MUA8(0A R)0V8@J AJXJ-Q?!Q/1'28V& :@TEI MGH43)@@*TBS#R40HF<@FDZ9X@AA-$,]0TV&2$4^:YWDV48.@,NK:V@0EDR!J M'-N1H@G2&6I2FZ/&&R.GDCA2.^B"-B$1F5ZFP*W M S+'#WK0S0%DV?24,%3NNG,$-P1B.P(ACAHBN"60.9Y ['*'."9D*@F!)5%$ M'81P6R"(+S@O+VX,9(XS$+OHK5OW&>26"&X*Q'8%FKF.&+<%,L<7B%WRZ/D@ M,/?Y .X,8#L#(8Y"!-P98(XS@%WR$41320A*&4/DH(/[ F"^X-H4W!=@CB^ M7?%)/+4%!)2&CG\D@+L"('U"YMH2W!5@CBOTH'%+0^/1QO6"$%083Q4%HZZR M9NW!-.#"V_)S(W7_-IH=FOP'T%WI9'ZMFO^N5?](TWTY_"S:0]D([X5+U?.: MSG3/N62*9'BGZ!W5Q\HPJ-A>ZM=4O;==Q]X-)#_U7R/!\$FT^@]02P,$% M @ #8&/3B:Z(?3E 0 4@4 !D !X;"]W;W)K&ULC53M;ILP%'T5Y >HP0E?$4%:.E6;M$E1IVV_';@$5(.I[83N[>\ZY-G8Q,3UL4H4OBN3NV MRB1P68ST"+] _1[W0D=X8:F['@;9\2$0T&S1EVBSRPW> OYT,,FK>6 Z.7#^ M8H+O]1:%QA PJ)1AH'HXPR,P9HBTC=>9$RV2IO!Z?F%_LKWK7@Y4PB-G?[M: MM5N4H:"&AIZ8>N;3-YC[B5$P-_\#SL TW#C1&A5GTGZ#ZB05[V<6;:6G;V[L M!CM.;B6]E/D+R%Q E@+B>G%"UOE7JFA9"#X%PNW]2,T11QNB]Z8R2;L5=DV; MESI[+E=97."S(9HQ.X^,SB//:K9%Z5S&/SD_/(O03Y'3;SFV-/2)I]4,%7U\&\-C^I.':## Y< MZ9ME__^&&UL?97;CILP$(9?!7'?Y7Q(!$B;5%4KM5*T5=MKATP"6AM3VPG;MZ]M"$N, MVYM@#__\\XT#0S%0]LH; .&\$=SQTFV$Z+>>Q^L&".)/M(=.WCE31I"06W;Q M>,\ G702P5[H^ZE'4-NY5:%C!U85]"IPV\&!.?Q*"&)_=H#I4+J!>P^\M)=& MJ(!7%3VZP'<0/_H#DSMO=CFU!#K>TLYA<"[=YV"[SY5>"WZV,/#%VE&='"E] M59LOI]+U%1!@J(5R0/)R@SU@K(PDQN_)TYU+JL3E^N[^2?SDB#GN*?[4G MT91N[CHG.*,K%B]T^ Q3/XGK3,U_A1M@*5_3GWE@I+)1:(0]#9> MVTY?A\G_GF9/"*>$<$X(TO\F1%-"])X0Z^9',MWJ1R1053 Z.&S\LWJDGHE@ M&\G#K%50GYV^)[OE,GJKHDU8>#=E-&EVHR9<:()9X4GWN41H*[$+5^E&@?U: M$:7V"I&UB4CG1TO ++,;Q%:#6!O$#Z<0&:5NF? 52]X(*')T5-T*%.+=X!?/4QJ=0]L)6^[.:=:_TK8)\4R( M%T*T^R\AF0G)&\%U$_O,7*F?B"9%)L442/]8 [$S$1T2T\S*.EWOW#=3K3+> M2Y$\[C-\L4(SYN@Q\0H3+0ALU)<0\5:(8WQ'C]\'*.\1R6X[0K)91.+XZ;LB M'K<%TDV!]$X@#<.;+GC,SF&X+R/9W[2JO >E<9C>I()7C\- MFZ.55")D6O; MAI5W696GV#[NC?]H5LA/_)N,W[_O1+8]5\%9:#,Z[H$;(328',,',]2=6?G% MH-!H>_UH[M(/OC>T&.:=QLL?2_$/4$L#!!0 ( V!CT[,[M1=>@( ! ( M 9 >&PO=V]R:W-H965T=O'.@K,5";MDQX#TC>*^=VB9 "1!B^O. M+PMMV["RH&?1U!W9,(^?VQ:SOQ5IZ'7E0_]F>*V/)Z$,05GT^$A^$O'6;YC< M!5.4?=V2CM>T\Q@YK/P7N%Q#[: 5OVIRY;.UITK94OJN-M_V*Q\H(M*0G5 A ML+QO9"PH]KVQ^N_D0AHI5R0RQXXV7'][NS,7M!VC2)06?PS7NM/7ZQC_YN9V M0*,#FAQ@\E^'<'0([PZ1+GX@TZ5^Q@*7!:-7CPU/J\?JI8#+4![F3AGUV>E[ MLEHNK9*"EGNZ#'!VE:$B3M#Z"PBU/[A M'#!-W0$B9X!(!X@>3L& K 9-HC7=F 2HCU&,K"Y[X(F=/+&#)S1X!DT\ MRQ-FL<%B:Z+DR<$D3I#$ 1(9((,FG24!"Y 8)"X11&Z4U(F2.E",>JO4/A-H MG-O:UL0P] M^$"I()(1+"3=28[G:=.0@U#+5*[9,*.&C:#].'^#Z4] ^0]02P,$% @ M#8&/3K%RLBPN! +10 !D !X;"]W;W)K&UL MC9A;C]LV$(7_BJ#WC<0A)4H+V\#:0= "+;!(T?99:].V$%U<25ZG_[ZZQ9$Y MAVE>;(D^0QY2,Y\IKFYU\Z4]&]-Y7\NB:M?^N>LNST'0[L^FS-H/]<54_2_' MNBFSKK]M3D%[:4QV&(/*(J PC(,RRRM_LQK;7IO-JKYV15Z9U\9KKV69-?]N M35'?UK[POS5\SD_G;F@(-JM+=C)_F.[/RVO3WP7W7@YY::HVKRNO,<>U_R*> M=U(- :/BK]S_'M9^.#@RA=EW0Q=9__5N=J8HAIYZ'__, MG?KW,8? Y?6WWC^-D^\G\Y:U9E<7?^>'[KSV$]\[F&-V+;K/]>T7,T\H\KUY M]K^9=U/T\L%)/\:^+MKQT]M?VZXNYUYZ*V7V=?K.J_'[-OT2R3D,!] <0/< M$?\P0,X!\GO N)K!Y&RLRS:KIKYYS?2T+MF0%.)9]HNY'QK'M1M_ZV?; M]JWO&Q6FJ^!]Z&C6;"<-+33BK@CZWN]#$!IB2RR<'@?8<86,\0@23D*.\6H1 MGTIK#I,D&B75*-$R34++"%"13A+L14$OBGE1PAIF.VGBQ3!*"%*6&: *M70L M?03-1,",L,Q$;)@GJ9D9I$HD83,Q-!,S,T)9F;"-V3 4D9TN0*3(D3 :6M%@ M76PK&EA)8LL*$$FML)4$6DF %3MY$S9*%"IM/R*@BK5V)&\*S:3 C&,V(L0\ M"?^_%F?-0V8KHL2:#Y+UC\!1 ,+!-_$3]3B+EB.)1.K4-@1D.B;I, 1I^"+H M)VIR%EE%J=@*(9G4D<,0AJ?@].1U.8L>II[&S ]0)>2 A,#\% B@S YG(ZG4 M+DZD$HEK=3!!!4(H2VA.1TKT8J39#Y))"AV&,$4%QZB,7"F(Z2A)1S\X\R9'VU+_7V5.",JD>Y%!C;[P_DCP:<;Q[(^8Q M(WQC:/\? (E('4XP.B7:.;)S ,5>\:E_F;+-<)5*M;TPP>*0I33-:3R/:KU] M?:VZX3ACT7H_\WJAX9#&:M^*Y]UTL.>55Z[W575>7XT'-L:X[ MTYL,/_3VSB8[W&\*<^R&2]U?-],!UG33U9?Y<"ZXGQ!N_@-02P,$% @ M#8&/3FG?5I,2 @ O 4 !D !X;"]W;W)K&UL MA53M;ML@%'T5RP]0_$U2.9::3-,F;5+4:=UOXMS$5L%X0.+N[<>'ZWH.7?\$ MN)QS.(>86PY&IAD+-Y8)(<.'\VBZ_' M31@90T"A5D:!Z.$*.Z#4"&D;OT?-<#K2$.?S5_7/-KO.N3#%QCSY&$PAO\&5Z :;ISH,VI.I?T-ZHM4G(TJV@HC+VYL.SL. M;B?/1YJ?D(R$9"+$Q7\)Z4A(WPB9#>^JVR&)?H:H1&S-9ADADFGA!(JT]')+XCMLD-/?GW@-TM(BW\ M)Z3>$*GE9S/^.EUD<)#<0CH+P>EZ%2V,>% )7JW\7C*OE^S&2Q:_(Y![!?*/ MPSA(,;<9)WB]".-!13A>^[T47B^%)\P[ M@K@#\.@V_N/,%1O,CB 47%T@F: M??0,Q-GV!QG4_-(I\WG-JE,+>DC,HUG4M[HUN4[R)N/ZVGXUNI=."PDF9*=9SX1J*6RC>C[T230V[^@M02P,$% @ M#8&/3MG@])(A @ 1 8 !D !X;"]W;W)K&UL MC57M;ILP%'T5Q /48#Y"(X+49)HV:9.B3NM^.^0FH-J8V4[HWG[^H)01=^J? MV+X^]]QSC'U3#EP\RP9 !2^,=G(3-DKU:X1DW0 C\H[WT.F=$Q>,*+T49R1[ M >1HDQA%.(IRQ$C;A55I8WM1E?RB:-O!7@3RPA@1?[9 ^; )X_ U\-B>&V4" MJ"I[Z%7:&(YM@PZV?(N$'#:A _Q>E<8O 4\M3#(V3PP3@Z^? %1C]9&(SFO\$5J(8;);I&S:FTOT%]D8JSD45+8>3%C6UG MQ\'MY-F8YD_ 8P*>$N+\OPG)F)"\):36O%-FK7XBBE2EX$,@W,?JB;D3\3K1 MAUF;H#T[NZ?=2AV]5BF.2G0U1"-FZS!XAHDG!-+L4PGL*['%-^GXWP*[6T22 M^RLD7A.)S4_G M/[A0F'R2RF58)SYQ:1>,>F-F!2_0>@G>.8N4E6'W B0^3+YSX,"N_D,(KI/C !2EN M/OU*-\.%DEM0<3\#.2EH]O@8B+/M4S*H^:53YIK/HE,K?,#F\2[B6]TB74=[ MHW']]3L1Y[:3P8$KW1KL SYQKD!KC.ZTO$:W]&E!X:3,=*7GPC4VMU"\'WLV MFOXXJK]02P,$% @ #8&/3OD0APC] 0 = 4 !D !X;"]W;W)K&UL?53!CILP%/P5Q+UKL($E$2 U5%4KM5*TU;9G)WD$ MM 93VPG;OZ]M6,2"VTML/\^,9QSSLH&+%UD#*.^U99W,_5JI?H^0/-?04OG M>^CT3L5%2Y5>BBN2O0!ZL:26(1P$"6IIT_E%9FM'463\IEC3P5%X\M:V5/PY M .-#[H?^6^&IN=;*%%"1]?0*/T ]]T>A5VA6N30M=++AG2>@ROV/X;Y,#-X" M?C8PR,7<,TE.G+^8Q==+[@?&$# X*Z- ]7"'$A@S0MK&[TG3GX\TQ.7\3?VS MS:ZSG*B$DK-?S475N9_ZW@4J>F/JB0]?8,H3^]X4_AO<@6FX<:+/.',F[:]W MODG%VTE%6VGIZS@VG1V'<2=))IJ;@"<"G@EA]%\"F0AD14"C,QOU$U6TR 0? M/#'^63TU;R+<$WV99U.T=V?W=%JIJ_Q=BM8HR8V&*Z\9 X")-5% )_I(F< M9J*M&1*LS(R89'',VL@6$85N%['31>QP$:Y*8!ROS*#%^S?]Z#L5UZ:3WHDK_2G9!U]QKD K M!@]:K-8M<%XPJ)29/NJY&!O!N%"\GWH&UL?93M;ILP M&(5O!7$!-6 @-")(*].T29L4==KVVX&7@&HPLYW0W?UL0Q$S[O[$7^<R+5D%^1&#F0VIAZBJ(@ M2%%/NL$O2Z:];:N.V_Y;^R=2N:KD0 26CO[I:MB<_\[T:&G*C M\IE-GV&I)_&]I?BO< >JY)I$[5$Q*LRO5]V$9/V2HE!Z\CJWW6#::5Y)HL7F M-D2+(5H-8?Q? UX,V#*@FY30(DEWYQX^9M8%EGM1A)/$(D&;+U^_ M1-\(OW:#\"Y,JC^1^=0;QB2HP.!!9;7J\5L'%!JINP?5Y_,3, \D&Y?7#:U/ M;/$74$L#!!0 ( V!CTX 3X4(L $ - # 9 >&PO=V]R:W-H965T MGW-\CK'SP=AGUP%X\JJD=@7MO.]WC+FZ \7=C>E! MXTIKK.(>2WMDKK? FTA2DJ6KU88I+C0M\]C;VS(W)R^%AKTE[J04MW_O09JA MH E];SR*8^=#@Y5YSX_P!/Y7O[=8L5FE$0JT$T83"VU!OR2[*@OX"/@M8'"+ M.0E)#L8\A^)[4]!5, 02:A\4. YGJ$#*((0V7B9-.F\9B,OYN_JWF!VS'+B# MRL@_HO%=0>\H::#E)^D?S? 4YY;2J;P/^ ,$N'!">Y1&^GBE]0GYXV:5-"* MXJ_C*'0I7[GF96S,0._ZLGH<[ MD>PR/,PZ-./9Q35,Z[![+M?9)F?G(#1A[D=,NL"D'Q'59\1"A*&!V45ZU44: M^=F"G]S]0R"[*I!%@?6'&-N+&"/F-F)TQ&PNHU:?,=OUI1&V.-MPUW]R>Q3: MD8/Q^)OB8;;&>$"]U0U*=?B\YD)"Z\-TBW,[7K*Q\*:?W@^;'W'Y!E!+ P04 M " -@8].I<'(3H0" ! "0 &0 'AL+W=O^,U(<)Y[]J>;]U:B&'C>?Q0DP[S)SJ07OXY4=9A M(8?L[/&!$7S41EWK!;Z?>!UN>K!V>F1QYBY=CTY&>-[1W&#EMW<]H4Z%(&6C%[X:, M_*;OJ%#VE+ZIP??CUO45$6G)02@76#974I&V59XDQ]_9J;NLJ0QO^Q_>O^K@ M93![S$E%VS_-4=1;-W.=(SGA2RM>Z/B-S '%KC-'_X-<22OEBD2N<: MUU_G M<.&"=K,7B=+A]ZEM>MV.TY\XG\U@@V V"!:#*3FK!N%L$!H&WD2F0_V"!2X+ M1D>'3;LU8'4HT":4R3RH29T[_4]&R^7LM8S"K/"NRM&LV4V:X$83W"LJ6Q$F MB\23 M% %($VCZZH\@-BDD3:TVO-2A J:&J;%6>Y#G,$H(LH%C\Q.S<]=_94R%M1WUTG2@61#OTGZ:J6SYEET)*3 M4-U4]METIT\#08?YO>(MCZ;R/U!+ P04 " -@8]."P@+V=X! !D! M&0 'AL+W=OV&X*+X0VRSIW]<70L@&]05[QN>9])U5D M _XW<&H%WOD*CE+^>R,;U6.(Y<0,"B-4Z!VN< 1&'-"-HV7 M21//(1UQN7]3?_2UVUK.5,-1LC]=9=H<[S"JH*8#,T]R_ I3/;<83<5_APLP M"W>9V!BE9-I_43EH(_FD8E/A]#6LG?#K&$ZVNXFV3H@G0CP3-MO_$I*)D+P3 M?#=)R,R7^H4:6F1*CDB%R^JI>Q.;?6*;63JG[YT_L]5JZ[T4:7J7D8L3FC"' M@(D7F,V,(%9]#A&OA3C$G^CQQP#'SXADNQXA62TB\?QDF>#N?ET@715(O4#Z MH0N[JRX$S*W'B! D740)E:R XOOH*A6RN!P.JO'O6*-2#L*X-BR\\Z@\Q.YR MK_P'.T+AQ;_+A/G[0573"8W.TMBGXR^XEM* S3&ZL>FU=N1G@T%MW/;.[E5X M^,$PLI]FFLP_EN(?4$L#!!0 ( V!CTYD9 [ #P( 'T% 9 >&PO M=V]R:W-H965T",[X0^BV29)>AJR::,*7%1 M, M.".08I]#1*X0973C'OT;H+I%Q*D[0NQ,(C;^\5+@+G(3)$Z"Q! DRRIL@E45 M+&9C,+T-LDVVX2H5%RJZ#]QB-DXQ&X>859C28M)%F$]ANB[K+2C2 MU*%D%:1,'0G'P:J%*A=J63PK!BVZE@)OS ,77LTNO=3]L;#.,^0ATEV_LI=J MMMA1\$YC!],/S)NN%]Z12?6F3.>?&9.@1 9W2E^K9N%\('"6>KM5>VXG@CU( M-DS##LT3M_@+4$L#!!0 ( V!CTX#C:D8B0( $T) 9 >&PO=V]R M:W-H965TJK*66S]7JED' M@3SEK*+RB3>LUD\N7%14Z:&X!K(1C)Z[H*H,HC D046+VM]MNKF#V&WX395% MS0["D[>JHN+O,RMYN_61_S[Q4EQS92:"W::A5_:#J9_-0>A1,+JO_N_KE+7B=SI)+M>?F[.*M\ZV>^=V87>BO5"V^_L"&AQ/>& M[+^Q.RNUW)#H-4Z\E-VO=[I)Q:O!1:-4]*V_%G5W;?LG)!O"X(!H"(C&@'YS M%@/P$("M@* GZU+]1!7=;01O/=%7JZ'FI4!KK#?S9":[O>N>Z6REGKWOX@1O M@KLQ&C3/O2:::**Y8N\J,!DE@088*2*0(NKBXQE%;%'TFJ33U+TFC4,+Q!4E MT<1IAH)!% R@)+!!#!K$@ &Q5#SC, MK%=@#ZBB)%R (2 ,>:#&Q%DF2N/,8G%%&.,01DE!E!1 R6"###3('JAQYN:" MB;VOD&BIQBL09?5 C5=N]5""[3\QI(K(PL:B$&XGX0-5'D33E=RW'Q"A,%W8 M&K30W!! LUJP@#L3@EJ37>I!-"]C3.R,7!7*T!(.W)T0U)[L<@^B>251EM@\ M@&Q%%OHV@IL=@KJ=4^_8Z&UL?93=CILP$(5?!?$ :S!@2$20&JJJE5HIVJKMM9,, :W!U';"]NUK&Q91 M\/8&_YTYWXR-G0]ODP:^5ZO<(R4L-+95/O(=.KU1A/0H_0[')M6NADPSM/0'7P/X3[,C-Z*_C9P" 7?<]4&(\K)Z:?R+< M1WHS+V;2[IU=T]5*/?LH8A+DZ&&,)LUQU."%!O^K*+>*B,P2I!.8L\#.++"- MCQ;QX0Z[#2*G060-XF4"6;HJ8]0D5M.-D"!,W93828D=E-V*,FK(@K*+8C2.B&I [+ZY$JSA5H MP^!)>]7Z:9T'#"IENJGNB_&!&0>*]]/;B>8'O/@+4$L#!!0 ( V!CT[& MLZ5%VP$ &0$ 9 >&PO=V]R:W-H965T!JZWC@'*?.1=O #S,_Q MJ*Q%%I5FX"#T( 52T!;X,=Y7F<-[P*\!)KW:(U?)2 GIB.O]J_IG7[NMY40U5)+]'AK3%_@#1@VT],S,DYR^ MP%S//49S\=_@ LS"728V1BV9]E]4G[61?%:QJ7#Z$M9!^'4*)P^[F;9-2&9" MLA#B_Q/2F9"^$7PW2 MRFR7YN3BA&;,(6"2%29>$,2J+R&2K1"'Y(:>O ]0W2+2W7:$=+.(U//3=8(? MDVV!;%,@\P+9NRYD5UT(F'N/$2%(E%ZUJMH Q3>UD-7E<%"=?\<:U?(LC&O# MRKN,RF/B+O?*?[ C%%[\FTR8O^]4=8/0Z"2-?3K^@ELI#=@A8:;)\F,I_P%02P,$% @ #8&/3FZ?4G3X 0 < 4 M !D !X;"]W;W)K&UL?53;CILP%/P5Q >LN3H7 M 5)#M6JE5HJVZO;9@4- :S!K.V'[][4-02Q8?8GMP\R<&=MQ,C#^)FH Z7RT MM!.I6TO9'Q$210TM$4^LATY]J1AOB51+?D6BYT!*0VHI"CP/HY8TG9LEIG;F M6<)NDC8=G+DC;FU+^-\34#:DKN\^"B_-M9:Z@+*D)U?X!?)W?^9JA6:5LFFA M$PWK' Y5ZG[QCSG6> -X;6 0B[FCDUP8>].+[V7J>MH04"BD5B!JN$,.E&HA M9>-]TG3GEIJXG#_4GTUVE>5"!.2,_FE*6:?NWG5*J,B-RAJX-J)ZE$P*LRO4]R$9.VDHJRTY&,5D_TG?"/H=K,0A?-WIEO*JU0U7L6X3A!=RTT84XC M)EA@@L^(?(L(\0Q!RL#L(K"Z" P_7/#]0VP7"*T"H1&(/L7 JQ@C)C:8;FJR MVZ^26$![O+-;B:Q6(HN5WVXW$5B.QQ<@J[BG>-(GB MP\K(%N-[?F!W@JU.\,:)'ZQ/!V\V/O36^Y9;0/MH?3IH?" MI/H;F,29!"7I/2JM6S]^\H%!)/=VI.1\?@7$A63^];VA^9+-_4$L#!!0 M ( V!CTYDP+S&!0, $\, 9 >&PO=V]R:W-H965TV0-E;>\8ZV^L^>B MH4I?BD,D.\'HS@8U=400RJ*&5FVX6MBU![%:\).JJY8]B$">FH:*?VM6\\LR MQ.';PF-U."JS$*T6'3VP7TP]=0]"7T5CEEW5L%96O T$VR_#>WRW(<@$6,7O MBEWDY#PPI3QS_F(NON^6(3)$K&9;95)0?3BS#:MKDTES_!V2AN.>)G!Z_I;] MJRU>%_-,)=OP^D^U4\=E6(3!CNWIJ5:/_/*-#06E83!4_X.=6:WEAD3OL>6U MM)_!]B05;X8L&J6AK_VQ:NWQTM])R1 &!Y A@(P!./LP(!X"XO> Q!;?D]E2 MOU!%5PO!+X'HGU9'S4N![V+=S*U9M+VS]W2U4J^>5TE6+J*S231HUKV&3#1X M5$0Z^[@%@;98$R^<7&^P\15Q!N\0@T7$-CZ9%I$CIXA>DUI-VU/$*,L<$E^% MRP0E,$P"PB0 #'9@?(W;],V'DBN,%,1( 0RG[VM?XV%\*+G"R$",#,"('8Q> MDTV;7J#"?32^ZOH!7L'D($P.P"0.3.[#H+APWUA E:8)@F$*$*8 8%('IO"V MR7/D$&\ 44IF^E*"*"6 ,I, (]A&T"?>^D$T)8 #CY3 K8X##D<%Y[8X_5*\>7D)F7%L/NAB%[ M\WJ;^%U+711 ,\L"6QR&/*Z820';$X;\R6LL8%!>.;XFB6=08'/"D#MYG?6- MYR;&+@L@2N:^0K Y8&PO M=V]R:W-H965TVY:*/R=@?,A0@-X6GIM;KWN [J!_]1>@(SRYETT(G&]YY JH, M?0B.Y\3HK>!G X-5/Q7> #3&<$/P_@4P)9)6 1S); MZD>J:)X*/GAB_+-Z:NY$<"2ZF859M+VS>[I:J5;3W4_PP1I/F-&K"A29\ MKSAO%229)5@#S!2ADR*T^61Y@A^X#8C3@%B#Z%T9P:J,41-;36*4T#^L>^H0A?[.C1([46('"EFAQ-M3#D&\0MF* M@D-T<*,D3I1D@Q)'*Y)DT_HXB=4WC]$W*FY-)[TK5_H[LK>] MXER!-O2?M%>MW[\Y8% I,]WIN1A?@3%0O)\>.#R_LOE?4$L#!!0 ( V! MCTX5&7%/BP( 'T) 9 >&PO=V]R:W-H965TP#:S MX]G%'KNX4?;*:T*$\]:U/=^ZM1##QO/XH28=YD]T(+W\BQ'2L+>A%MTY,=<_BEZS#[^TQ:>MNZR'T?>&G.M5 # M7ED,^$Q^$/%SV#'9\R:68].1GC>T=Q@Y;=V/:%.A1 5HQ*^&W/BL[:A4]I2^ MJL[7X];UE2+2DH-0%%B^KJ0B;:N8I(X_AM2=YE2!\_8[^V>=O$QFCSFI:/N[ M.8IZZV:N*,RG>HG+'!9,'ISV/BW!JP6 M!=J$LI@'-:AKI[_);+D51$9S/.("6:8X!Y1V8@PF2">%#"I"$ 5 M@8Z/[E3$"Q4C)M:87F.0'X=HH<1&95D\_ MD(T!S95F0;IT !L4SE;AO9@5*T*VF'SEYR+81] C1F) =Y5'Z=)( %08KFT9 M!%L) KPD1RL4L $@VP& C.SMC2P+@$!KSHA@#T" ">3!"@7L N@1&S"@N8O' MLUUJ\K%!@;_.WLJY)&J#[X3I8)(0O])4M7R+C1U6G(2 MJIG*-ALO!&-'T,%<=KSIQE7^ U!+ P04 " -@8].0*K/NAX" "(!@ M&0 'AL+W=OEP/C;Z(&D-Y[ M2SNQ]6LI^TT0B&,-+1$/K(=.G9P9;XE42WX)1,^!G(Q32P,4#5L?^1\;+\VEEGHCJ,J>7. 'R-=^S]4JF%1. M30N=:%CG<3AO_4>TV2'C8"Q^-C"(V=S3J1P8>].+KZ>M'^J(@,)1:@FBAAL\ M :5:2<7Q>Q3U)Z9VG,\_U#^;Y%4R!R+@B=%?S4G66S_WO1.\2HD:T<5%4I+WNW8=&8<[$D2CVYN!SPZX,D! MVUPLR$3^3"2I2LX&C]OB]T3_8[3!JC9'O6E*8D6$"L33J#H/A.*1(G)%E#BG !2?X?DCHAZ0H2IV@!2=<0'+HAF1.2.2!X M 0(H5Y%.>N"$H=%^TT(%) MECGRJOU!+ P04 " -@8]. M&GDS[)X" !Q"@ &0 'AL+W=OVY>KOHVCD=1V3^&/CN3Z> MC-M(-JN>'\5/87[U6V57R>1E7[>BT[7L(B4.Z_@363Y2?\!;O-3BJF?OD4OE M5IBT@T8F><"VX?%_$DFL9YLG'\&9W&$],=G+]_>/_BD[?)O'(M MGF3SN]Z;TSJNXF@O#OS8N$LO8R4;[O]'NK(UL M1R\VE):_#\^Z\\_K\"7/QF/X 3H>H-.!H3C) /*1?^:&;U9*7B,U%+_G[G], MEM369NYM.F_#6)KBE 5*62 4=D,9;(H995$0')*AD Q"6'H#R0"$T$"]TZ&@T!]%0.4A U.2.+AV-YIR W BN:@)E M#=MT-+J'@JN:0%G#/B50UR$*+FL"=0T[E4!A,Y:7 1 N;8)HFX6Z"!I%N1>1+ G<$P=5+H'R1;JWNOU0)+G("58[T*Y1Y\%ZE MN,HI5#GL6 I5'KI:*2YR"D4.6W8TFO^LYJ -DMFPX(:Q'UP=ZTY'K]+8N<-/ M!P&PO=V]R:W-H965TW'A[4MW9$QXKU59=TO_*$1S'P3=]LBJO+OC#:OEESUOJUS( M9GL(NJ9E^4X;565 $(J#*B]J?[70?8_M:L%/HBQJ]MAZW:FJ\O;?FI7\LO2Q M_];Q5!R.0G4$JT63']A/)GXUCZUL!8.775&QNBMX[;5LO_0?\/V&4&6@$;\+ M=NE&[YY*Y9GS%]7XMEOZ2#%B)=L*Y2*7CS/;L+)4GB2/O\:I/\14AN/W-^]? M=/(RF>>\8QM>_BEVXKCT4]_;L7U^*L43OWQE)J'(]TSVW]F9E1*NF,@86UYV M^M_;GCK!*^-%4JGRU_Y9U/IYZ;_0S)C!!L08D,$ QU<-J#&@[P:A3KYGIE/] MG(M\M6CYQ6O[V6IRM2CP/96#N56=>NST-YEM)WO/JS#+%L%9.3*8=8\A(PP> M$('T/H0@4(@U<YAIB0R$ 2V0U+)'-"?,() M4C^+"P#,DFB,FS#""*Y=!' *[>)%[E1E&(?8H@3@<$03.D=I1DXP0"FR*6$W M5(9PBA.;DPNTE]F4%"A #Y@ )3'G E883&\H"@.:K':":!:E=EXN4.9$,8EF M2,&JA6^1+0.:##:X)@'@U34)RQ=V]2M"B_RIZZ*P!"TA2%-)FA!8LB MCF\IE1@(!M8* +Q:++#08DAIG6)Q)930-'$F>@, [=4W)06++4YOWTPQ+)48 MTDJG6#)HJ[3WCX]0T^,'+),$DDF[3 PHN[Z]@ZBY_9W $DD@B;0KQ("L0*%- M!T3-B B!Q9&0&RK#@++KD_41:DH'%EH"":U=$P8T>\PR=$"432<8G90KUA[T MI:+SMOQ4"W4F'?4.%Y<'HD[:5O]:7FCZZ\>[F_XV]"-O#T7=><]]M?POI&X(WYH85#->\U7]02P,$% @ M#8&/3I\<&XH1 @ ?@4 !D !X;"]W;W)K&UL M?53;CILP$/T5Q'O7F-MF(X*T256U4BM%6[5]=LAPT=J8VD[8_GU]85F6N'W! M]G#FS#F#F6+DXEFV "IX8;27N[!5:M@B)*L6&)%W?(!>OZFY8$3IHVB0' 20 MLTUB%,51E"-&NCXL"QL[BK+@%T6['HXBD!?&B/BS!\K'78C#U\!3U[3*!%!9 M#*2![Z!^#$>A3VAF.7<,>MGQ/A!0[\)'O#WD!F\!/SL8Y6(?&"KG" 2@U1%K&[XDSG$N:Q.7^E?V3]:Z]G(B$ Z>_NK-J=^$F M#,Y0DPM53WS\#).?+ PF\U_A"E3#C1)=H^)4VF=07:3B;&+14AAY<6O7VW5T M;]+-E.9/B*>$>$[ ^7\3DBDA>4M(K7FGS%K]2!0I"\''0+B/-1!S)_ VT<2L:_$/KY)C]\7.-PBDMQ? M(?&:2&Q^LJR ,S]!ZB5(+4'ZK@L/JRXX3&8QO<5\2![R^Y45#RK%^3_ZE7G% M9+=B<+02XS#YL@S.UFWU@.(T]4O)O5+R&RDX6CG>YS['>-6]@P^51NN/A!;7 MEH%H[!\N@XI?>F4NR"(Z#Y''V%S[57ROAXN;!6\T;C)](Z+I>AF<*M,CH3NMK]3"<#Q1J9;;W>B_<2' 'Q8=IVJ%YY)9_ 5!+ P04 " - M@8].T*'-#J0" """0 &0 'AL+W=O_,V>?IF8LW>6!,!>]UU%"J?8HBN3FPFLI'WK)&?]EQ45.EAV(? MR58PNK5&=17A.,ZBFI9-.)_:N;683_E1567#UB*0Q[JFXM^25?P\"U%XF7@N M]P=E)J+YM*5[]HNIEW8M]"@:O&S+FC6RY$T@V&X6+M#3"B7&P"I^E^PL1^^! M2>65\S)K5A5&4^:XV_O-!QB&L/Q^\7[5YN\3N:5 M2K;BU9]RJPZSL B#+=O18Z6>^?D;ZQ-*PZ#/_@<[L4K+#8F.L>&5M+_!YB@5 MKWLO&J6F[]VS;.SSW'U)+V:P >X-\&" L@\-2&] K@9V-:..S*;ZA2HZGPI^ M#D3W;[74% 5Z(GHQ-V;2KIW]IK.5>O8T3Q&:1B?CJ-::Z*2'L?0F H MQ!)[YO@VP,I7D R.0, DB+4G-TE@V$$".DBL@^3& 7%6H=.D5M-83>RDX2L> M4)K '"G(D0(JHP Y"J"\[M3G!'0P^41Y37Q*DF=.*KX(905, M@F)XO\>?*+%>= .#XMR! 53)/9@[AP_Z1*'UHNR#C?>AY!8$/*(6" ,@N0N" M_55)"G?O 2I\KUH0?)PA M 4+@WQ3QM2N%L04"%RYTA"\-F(H,-QXM( (NS] M39#(;271J'/53.QMDY?!AA\;97K$:':X2"RPZ7S._-)<,&Q'O+KI;B<_J=B7 MC0Q>N=)]U7:_'>>*:<;X42_505^(AD'%=LJ\YOI==+>";J!XV]]XHN':-?\/ M4$L#!!0 ( V!CTX>RI:UBP( -$) 9 >&PO=V]R:W-H965T:-7+OETJU6X1D4=*:R"?>TD;_ MN7)1$Z67XH9D*RBY6*.:H3 (4E23JO&SG=T[B6S'[XI5#3T)3][KFHB_.66\ MV_O8?]MXKFZE,ALHV[7D1G]0];,]";U"(\NEJFDC*]YX@E[W_@%OCS@V!A;Q MJZ*=G,P]$\J9\Q>S^'K9^X%11!DME*$@>GC0(V7,,&D=?P92?_1I#*?S-_;/ M-G@=S)E(>N3L=W51Y=Y?^]Z%7LF=J6?>?:%#0(GO#=%_HP_*--PHT3X*SJ3] M>L5=*EX/+%I*35[[L6KLV/5_TF@P@PW"P2 <#7#Z7X-H,(C>#>QIHEZ9#?43 M423;"=YYHK^MEIA'@;>1/LS";-JSL_]TM%+O/K(D#'?H88@&3-YCP@D&CPBD MV4<7(>0B#V?FCH/C'!&EL(<(#"*R]M'4 TY@@A@DB"U!_.$4(N<4($SL!#+' MQ!.>#T(24$@".$D<(1 F=81 F!4L) 6%I #!VA$"83:.$ 3!;"0%2AD!1!@ M1PB$<=\8A%FXFC4H9 T0./>?0QA7"(19>*P;4,@&('#N/XP>^-,B5GLCOV)8?0%%)G/S?]BBVP[S1]L_.=B%O52._,E2[3MIA>.5=4 M:PR>="(N=7\U+AB]*C-=Z;GHFXQ^H7@[-%!H[.*R?U!+ P04 " -@8]. MD?A&K(@# #9#P &0 'AL+W=O]"0_Y MW_GOX_@9+T^V_=D=C.F#U[IJNE5XZ/OC311UVX.IB^Z=/9K&_;.W;5WT[K)] MBKIC:XK=&%17D8AC'=5%V83KY7COOETO[7-?E8VY;X/NN:Z+]O>MJ>QI%4+X M=N.A?#KTPXUHO3P63^:KZ;\=[UMW%9VS[,K:-%UIFZ U^U7X'F[NA!H"1L7W MTIRZB_-@F,JCM3^'BT^[51@/CDQEMOV0HG"'%[,Q535D/9IZ0"H-Y]I_-BZFUPS4%C"LJBCU6/-0$8@7(6S.++D?)$T).*LIR#TF !R,( MIBZ$X8+6)TP,@G@:5W@00L,:56DRT@)$G*;8$:>#%.>[ PKE!2B= M^ZSS6 :.RWB1 :Z>8R)R*A *L^2!SR<0=%%3_M:E0,FNM@R#9O>+T7[5#9= M\&A[M_L:]TA[:WOC,L;O7*Z#VV>?+RJS[X?3U)VWTV9SNNCM<=Y(1^?=_/H/ M4$L#!!0 ( V!CTZEPO;?$0( 'X% 9 >&PO=V]R:W-H965TS\S.;LP6/1>OL@90P1NCK5R'M5+="B%9U<"(?. =M/KF MR 4C2A_%";3.#MX!?#?1R ML@],)7O.7\WAZV$=1L804*B442!ZN< 6*#5"VL:?03,<4QKB=']5_VQKU[7L MB80MI[^;@ZK7X6,8'.!(SE2]\/X+#/6D83 4_PTN0#7<.-$Y*DZE_0VJLU2< M#2K:"B-O;FU:N_;N)KW2_(1D("0C(Z6JECE[*-(\*=#%" V;C,,D$$X\(I-7'%(DOQ2:Y MHR>W";;W")SY,V!O$=CR\31#G/H%%EZ!A158W'0AGG7!85*+:5T7XCQ]G)7B M0:79\C]F4J^9U&-FUK&-PV23-#A>SJS<8S[A)<[]5C*OE MS\QX4#?=A!^ZOU,!P/%([*;'.]%VXDN(/BW3#MT#ARRW]0 M2P,$% @ #8&/3M_ZO=5O @ ^P< !D !X;"]W;W)K&ULC55=CYLP$/PKB/<[,-]$!.D@JEJIE:*KKGUV$B>@ TQM)[G^ M^]J&XXC9G/H2V\O,[*P=[697REYY18BPWMJFXVN[$J)?.0[?5Z3%_)'VI)-? MCI2U6,@C.SF\9P0?-*EM',]U(Z?%=6?GF8YM69[1LVCJCFR9Q<]MB]G?@C3T MNK:1_1YXKD^54 $GSWI\(C^)>.FW3)Z<2>50MZ3C->TL1HYK^PFM-D@3-.)7 M3:Y\MK=4*3M*7]7AVV%MN\H1:* DLEPLI2=,H)>GCSRAJ3SD5<;Y_5_^B MBY?%[# G)6U^UP=1K>W$M@[DB,^->*;7KV0L*+2ML?KOY$(:"5=.9(X];;C^ MM?9G+F@[JD@K+7X;UKK3ZW7X$B8C#29X(\&;""CZE."/!/^#$'Q*"$9"8!"< MH11]-QLL<)XQ>K78\+P]5O\BM KD[>]54%^V_B:OA\OH)0_C(',N2FC$% /& MFV'0A'"D^I3"@U(4WH+NW28HEP@_NH5L (@?PRY\L%!?"P0WA89&H0,FU)A. M8Q[\Q "52Q#R ]A) #H) "=&N<6 B>9)@C3Q#2L RD$8>9]8!6\).>KIP:T_/G5"-9!:=)MB3ISJH$2_0JASFT(?,,!9_ M8':J.V[MJ)#]67?1(Z6"2(_NHWSP2D[BZ="0HU#;6.[9,(Z&@Z#].&J=:=[G M_P!02P,$% @ #8&/3NQDE)EV @ . D !D !X;"]W;W)K&ULC9;;CILP$(9?!?$ "S8GLR)(S595*[52M%7;:R=Q EK MU';"]NUK&Q8E>)!R$VPS,]^,,S]V,7#Q)BO&E/?>-IW<^)52_7,0R$/%6BJ? M>,\Z_>;$14N5GHIS('O!Z-$ZM4V PS -6EIW?EG8M9TH"WY13=VQG?#DI6VI M^+=E#1\V/O(_%E[KPY?S.3;\>-'YJ,6,,.RH2@^G%E+ZQI3"2=Q]\IJ#\S MC>/M^"/Z%UN\+F9/)7OAS9_ZJ*J-3WSOR$[TTJA7/GQE4T&)[TW5?V=7UFAS MDXEF''@C[:]WN$C%VRF*3J6E[^.S[NQS&-\DR>0&.^#) <\.>*QE!-G,/U-% MRT+PP1/CYO?4_,?H&>N].9A%NQ7VG4Y>ZM5KF9"H"*XFT&2S'6WPC4U$TMDF MT/%G" 8AV :([P)D"\AHDUB;SMJD:0Y#(A 2 9!\ 1EMTAM(C!,8$H.0V(7D MX0(2.Q"$5RI)0$CB0.(4+2") TE6"DE!1NHP$$X7C!0H)",P)0,IF4-)2 P' M(& \D#G$"=-3%;V.P_1BN8%4&C![H' M,%H3&X(EC5Q-NPTT&=U7DZUP8%4C5]8)6=MX6+,($*W31,A5;43"%0XL6^3J MUNTCY H71VL<6+K(U2[02*YXLY5O-H*UBUSQ HV4/?P=0K#"D2MQH)&(B_$L M'R>*]],])9@O2^5_4$L#!!0 ( V!CTXW.Z9#W0$ &($ 9 >&PO M=V]R:W-H965TMSSEU\+\D@U:MN QZXTSH%#?&=$=" M=-$ I_I!=B#L3245I\8>54UTIX"6GL09B8)@1SAM!';IB,O] MN_JSS]WFSU=9ZS;:'74*N3FC"G$9,M,"$,X)8 M]=E%M.;B%-W1H\\.\GM$O%OW$*\F$7M^O/00'M8%-JL"&R^P^52%_4T51LS6 M8X3'',*;2N7WF/T^N F$+)Z&@ZI]%VM4R%X85X2%=1Z4Q\@][8W]9 =H[/U#8K4V/;CPX4T-*3."/Q:K4AG+8"YYGWG52>R=ZP5L!)(=US3M6? S Y M['&$WQS/;=T8YR!YUM$:OH/YT9V4M8:()0:SZ%")>"G&( M;^CQQP#'6T2R68Z0+!:1>'XRCQ#_(\5T42#U NF'+MQ?=2%@UAXC/.9^&UL M['WK4R-)DN?GB[\BK9?> ;-$K?>C>W;,5*"J9H8"#JCJ;5N[#XF40$Y+2DVF M5!3[UY\_XY&9 JJG;]?N[.YVJ@$I(R,\/#S\^?,_E^4V^KI:KLM_^^YQN]W\ M^,,/Y?PQ725E*]^D:_CD/B]6R19^+1Y^*#=%FBS*QS3=KI8_=-OMX0^K)%M_ M%^W6V3]VZ4F^6V__[;O!I/W=7_Y<9G_Y\_8OI_E\MTK7VRA9+Z+9>IMMGZ.S M-8^9Y>OH./ITT ?3JH?_G6W;D7=2?.3KTWW/Z9WY;9(YMO_57U2OGR= M/F3X#1CB(EFEU6]]GMY<1B=YL=GS^ F\NTB6\,Y%^C7Z6_I<_5X;_M^X-VF/ M1]5/3G9%@3-_GY5S&.'7-"F0=-%ILJU-X_BXTSWN=?9,XI=TN3S^;9T_K:.; M-"GS=;J(SLIREQ;5!R[R/4-\SI? "DGQ#--9ID6Y;[DRY^MTDQ?;;/T0W6R3 M[:[V]5_3?2/0\-$)K/$A+VK4NLC7Q\E\GL)WX!L+_O:>D6:KM'C *7PH\J?M M(^S2:I.L:T/>)\NR1D\9XF:5+)?1NUV9K=.R-N-ML=O[X".0?-\;Y3M7N[ME M-H_>+_-DNX^<^6H%3'JSS>>_Q3!H4J1E=+G;EEM@9UC:7F[W>>8]_+$V]Q?/ MBCQ]E199OFA^_OVO>Y^^?=[4R-)I'_^M=JCAVPM^WS+9OQ29Q3[.5[EA_L?_ M:%K3R>7%S>7YV>GT=G8:O9N>3R].9M'-S[/9[8T35=%!E*VCV\=\5P)=:VOU M15/]E'ZZOIY=W$;3FQL8L_9I4CZ2Z)GC#^D_=MF79 FKJKUC.I^CK"WIR_GV M$/HV (_.G9#U/(Y!BT2+?W6WO=\LH\0>8 ]]D M98D"+EG\?5=ND9(E#G#0BR>3?I1L(UA5NKJ#]ZC0I2_ M:+&#Z13Y"B:]I(.Y2>#XUP_YV?H+S"0O,EE3G=3W*4B08 7I5[BWZD?TJD@W M2;;0CWW*S44*)669UDE]FV^!N5_^SM7UY=7L^O;7:'IQ&LW^YZ>SJX^PR6X; MYL"<.U[I(H4[=)[Q=8(4'L:]4?M%"D_&C9_7*/SA\O+TE[/S\QH5+VZG%Q_. MWIW/;AJI>'G[\^Q:.+*9S+/W,V#;T^AV^N\O?8])-6TDD3+^^=GTW=GYV>W9 MK,;]EJDWR3/R29LE=MLR:V.PF0:;<)E_WO=GR69$" M0P+S'EN&H(LK7]=OGFUJ%R)'>I,A>99PI:91#L+\@9B@_-;!CJNGYO4!3F'* MVSQXKG;-A'S^ K7.+R\^'-_.KC^^M)??L/YO7*T]5:^MN;)GW_P<\H.2H4:M M2^:I?/UPO$V+U4OT8L*^Z:LGEQ\_GMVB[+@A40+7T>W9Q8?9Q0F0.#J\N+R= M15=551G5]Q_+33)/_^T[D"UE6GQ)O_M+5&/RV\N3O_U\>7XZN[[Y$PFIV]JE M#$)2%E^R#G'0:G>0\!'<0[OTIZ@3@_Z)_XM*UBZ2W?81Y/-_IHN?HG6VU#]G MJ"XN^/0Y_6._E&N\*EF;<3,)I](=M%^:3&'MP)UU??46 M;+UR!RJ\[ "L99Z7VSCJM.->>QR##6()_RW[RN>!!GW,EPNP#OY$JLX^D>2= M%QKS+4^^I,<=7B5X_A_3;09JZ]&;];K7=*[?KVF]59W8IT>\>HSML7GUF[63 M]-8G^#"]]=OY?J,D//9[9QY^[=5I-WZ]>7,+_V$Y?_D^ MPMV>WI[!%T3J?[RZGOT\N[@Y^SR+SB]O@&<_K9,=R(-T\79^O>9[;\]]5.SY M] 2FCK?DOL]%37CE6V!#EW"'%_E]719=;M :1^FH6EKMJ@)K&#Z/HX=TG:([ M!(].LEAE:_*MH+RL+[8$XW7.UM,"9K7,-WBVFJ>?OSH%-\E#E(U'0&DXN[77 MLAK GT6',EC-EW6VAHL_+=FK=)^M04C@R$C$!I/'^V[N#=^H<7](@ .064&# MQ?W(P&!BH8*L\?FF9D7+^FEX?WYA,]K 6!6[^'*&?K5RR*27;] $:3C0KXQ\>.[M<;3A MV9 0P--?\YY%=TF9S9G5LN4.Q?$AD'N1+Y=)4=+S]&"- K_ _!_QZ\D78*^' M-'C-BT*FX9W5KWQ,UC#D(CJ[CW[ MZ@SN6#I-\KV7AGU!S)W\#&8HZ+%G%U&3,OIFP>:[N:+_^$AJ1\T?:Z7RRU_S MM*PKT;).Q%#9]\AUN@4F T+/DF(-6U7N']R[KYG)0U:4PR/8/.]RY9 MDJK!FI?U-PWW?0_YD[GLZ-5GR'%X#/S&MC8>YD8U8]_W_)U-Z2W7GN7DW0 MJFFT<:>>AY%\$O,!?\6?R@1[ND+NR]1$J$U^R!?QR]_RF]YSZ MCC92(%9H\/]G(RM;H_^ENX[N1%IGII,#(5_UIJ8>NO&]R_2.SE\S1K(R6.R?D#M>.W3 MF9QZ]%;/'OOQVVRDYHN?AW[9ORMZ9M/)_B?9I,K"K$&]_,S5#C3-!-V+0$Z[ M@WPMYO?;IP:= ;9SGJ8+>ID\:]\#6+]^968D47^_FS%\Y:$N%U9[5!FVYH+SDZN9].;V1&H7/P3ZEXDY\G. MQ!]0]_H\/<=+X,W1**#(7?J0K5'[P2D_@^GU+0^G*!R:'[OY='5U3G?2]#PZ M/;LY ?/WT_7,WD]G%^\OKS^2L;S73V[//C4YPIS S9M!YON3FY M/KO"1>(,WGVZ.;N8W;!SX,,EOA.N\9/9]04%8VYN<-8UV5H\)&N1^C'HG>LR M7V8+=QM>H:=XO;6WPGMF4I@2AN!3/@O[TQT^)V5.B0QYP4,\)25=GOR7=&% M6)W"L4%AB(+KK[OE<]29C$>M"/2X:"4.A S>\@A6?5X\QT"<5(/@-%X2EX>9K@KY-?BMQ3EHW%&"G(IO@<^!8,CJW*)3C 0,^6.5NC%M:&U^.)2=:HVRQ ]2_*[/Z9)G4G MV0)Z6<%&M4#AED(,]HD+S(<'%+G@U.Y2-MZ--ZB6_$,?%%Z=B

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

#'#1XWD/Y)I)S4>3-HR!_2]9)_!RD 98GZ^NVMLRS:B$)UW"859J@AF>+ M!2D257JVID]!C@I@^E&D-]_$.P#8[,R10$[/B UX5MJVJATGL$[0',+V*Z#W$H5FW][>A%73*)6+%?>[LNDV] MMLQ#H-G.(!EP]9S8EGTGK5%O<0I+:MYR-T#:B1@"EB[&R,X=9TP#\R SII5!TAE3RXD5CE9:H]XOM=P4FK+AQ?Y[R7X9*!]<-+,- MZGXJC-#ZF T>O(ZD7%'YILEW\AF/?E1G-26H1E._:1C&K:Q)37F'E/W *XD' M7 ;)H%-QS ?CQ8+.L^!Y=T1XSY9-V6Y%T2PN OJ<(]P-JV+2GAO-O.&LF,(/>22SRT=#% M%L4&F*0%TXF-$?F62EDN8C^1V$:%R7C7X:"2=U+CP&"$=&-],JY,W=3+)TB8 MG42%D\V(1FE*LQ1R7\6D$(;Q"R2Z[M&@3E_!-D0Z-)'KJ''XQ$D-)'>[6EE+ M7 (;7/R2.6SS#5/"8#B*F",D,\2>/O,FV;1V)8^V\9P701-<@8V4 M4$%[0F$%8_:"JQ!LP-9G-KA)."D0&[,>/@51L-JLN )?'A*ZG00 M+!NLT^R))@>> '*9V/!M-/\0LS<7>%+H-UG1' S\;P/E^_26;H&N*F 'W:6I M0CAFJ\MXM8XCYA"GTT4KX&.Z9&_'V^OM*A=S:I>L;!C1S"8NVBJOF3 &(CAP M0+%E2#Z2HB44O+CTDF2[$$_-F;)6K20,D<#J8)HLE]6"'0U$W75N;5-H5IQZ M1DL2,BXRK[(A1>W'./9?@C <1?XDRIA!L)J+/]DVE5;$H+BU,$X+7 T_7N2: ME6Y"=[2*DRSX.W<#D,*4_5#\+GV!JV#P$$A[&RX%M#6TO#" MV]6$=GY8//_MG%=UG%S%F\=LL0G9 MW^)-M,^ 3Z)EM M6.)D:]M\%89!QT%+<2V>2VJ\N&RJV#H$$RCEZ(H?4R:?Y__F3$CA58:..VT4 M5=Q#3\ :DTRSJH05+R2U^K;"9V7P'^M<9S7S'W09&1ZJ]@;O[P^@!K*U^JT+ M>8(!%G).=JPDU]7P*I6>E=NJ>:=G#@6"K8A@9PL$58 ML)Q$(*Q^L=UV #6Y!IW6Y"9HYZ\Z"[;#*SMUE4<&"65.():W$-MQNB1.[6.L M@GC8:&I587W<%"AQU4?0ZB@OCK $BEW-B@S/7<+N]P/1W?GK>(\/S=T\^R?) MNU^[^X+UND'+I%MJJA-5)QT4:15EM=!B=,CGLIV&LE/)Z@Q&/$1'Z(J\@)O M>PS"( MHQY0.J0 $>1T:PRR2.R3<@^\/.JNL3?.HL!UI4RG7L?@MLV85I*FD MK) K#RNVG-2>6];23UDJ\S7>D."9%N66:0_WB3^;%PE7>0*MS-[,5 M2[B;,"P8/Y0AK;>9\S]CAGHE)FD;B]%S#P]CI4EFT+983P.B*K5;\W!^)71. M(5Q(LF"5/V>?QV[8?^?Q,@I09FA4[+U+(/5%X&J%AG: HYRZ!U=27*:VOJ5NB' -S, M=E^O4=A05Q=V^.'A=D_'G#&=1AZ&^<]^FD,-KJZP$H$C\J8"K[?'WYWG=T0B MOZ(S7$-+?.HK@D/=1 RQ4W(DFS? VA53TJ.H,_( M(UT&490';(021_((%:];2*K^W;%&"+SPGH90>'.Z,&9&'$%^;[[D,9JE=#0/ M*7QPO^!8%C7'2/X3@/GW?PS6$]+D@Y#7%[=?\ M@UGD5$W\Z_,)/@S@$XRCO5/2/KAX!#3R[7R!/L9U][>]^NTJW3[6I&&KB/'N M;:2\4AZ6@>2:/=RO"^T42Z@KJ$PM&3QR@':%P].W!S1&,A1Y\7_RIG@&X"VL M=2@#2X=>ZWY T\$NVIY,WK5SJ2DLE:7<"DDAJ1ME<5'I*ZT6I3:+N2.!J!MX MI7XCQYX=!P;E1MDALLZ+9OIS5-@5IN!DYE*(C^:=P9W1L.JFUYMLD]"\%N^= MMX6,'3ARI,$SU.&]U)[6=90U#* [F"M'MX,@O%.QNQ%-^#-\_72*D)Y$LY?X MS]1+S/Z JSB\P&X;W1W;.UFG#>^6'6V$?__N1!'./DX/BO&*0-0H;QF^%\Y+ M:2>/]*8E$JR_/TVL7[/V/234*_(P([UE]CY +X6=.LZ;ADA@_OV)PCQX/NB, M7I&'&N9-L_>">2'LY&'>,$0"\P^G"/.#- ]F0.^/8ES5%CKICO@-C88]]TS_ M_'!17;W#P#,@&.7J:[!79T 8J%-KV4^"""&_A1E@2/&X@, MPG6Y\6H=QEN:7 7I/*'P6R_95HE&*Z@&K#[$V4MHSRGU!VB QH';'A+1(/P@ M9K1RB.+5VHNVOTN)7^4G7A1MV-"85^0-Q)L"W1!- \W/B4,222*,Q(&JR"#,_R8$[[_Z:>?"%>!"!T( M*'%&F T_U'_O17[^BTF:;GA5](+T_3LK4OY[^"CC^&#%\6W/^05%GR@+Q8^B M2H66D?_739IQ+VH&#M2,OF87;/S])D/CGB+1P?8P]K0K3C]N0B_A4V(8I\Q= M!41+DBSY&$C@$3]:U..'@@NY*\O_&E'XE1<&?X=?<2'T+!\/<"88^#!*%L%< MB,Y'CDS8*F9ZA,%O-&1#ZHD!&082%"/A/SQ2PLQG?Q(?@TM^.<[G<<*:?QU' M_'L>7PV*[TAL0H?VRF'3DYGBIU=$]R+.CHJ#T]%B*O?#5JV>I6 +M!W9;)E M44[HD6T-D@22.^&#<$U'I+:PE:Z"@)QZF+[KHY0?JMYU55L]B*7W?UF/9V(3 MR#T8UM,E6:7XG[:K]ZEE$;#Y@Q%?><^!?Q-0AMJ5%ZDWB'KZ_JI46*B]PYV& M&!G4S)JVTOF!E)2TY.4I)N*)#.*E? 'X$K"YG[DO ?][[IE>Q%["[\(4GTS) M&V"=QV$H'F1FONZ3]PP5SL"Y38,&QL'/SKDT-]1UM$2OZ77K^-"ZA"FMRZSBK]Z2UJ@VB_+];$- M6_9"*:R5ZSB!6$C0NGI$WCR*ZTIO^68.?CLW4L*;C!N@@J5ZO0ZWQ3#P&4^: M!7.RH#Y-/ C<>-D&WOBJ"DQ8*_&-ZSJA\._\3V\@=_4M 63SH*!X_+S(;67# MK[5(S'DKBJJ$\IVF\/GUU?#5).GO;1RYL(4I?:(^VX)=LFT2&US)-+ED],'< M"S^GZFYUE8"LXSNJWX[-B7*]<$>6881U]#JO*@FPH,57R*+X#._]>?XA C_G MGR(;]JUOR?C58YCD$Q6/49_Q(#6@KAZH/F-35?I;>@836Y"P__*9COT7\/<8 MQ[_-X=QQ6' ]T"7\QX2@&AE2F,ATE!U>\:KYO$Q$5$P(T.$O3\'\"08]Z\< M%H\BG@"K5@(P2<0.E@=P805F3NG:@]6/+(*(+4]0A2*(%C"9B,@LS"Y>QM=7 M\=%\OA%?_5U:X8.5E8L?" ^O&8U\ZC\P-YOYUOPPT)MGRIE%2XX,'S:Z'B:> M0?-/\=T*;%'FQ<<&Z=2/](_4"[.G.9N:%!W9)L'5>4K]FAWVR?LK&\/0 0G, M\.7LS0=@$1CDX_S].U@(YGP.2,012=$)MAMME2K#E,ZXR@MG3"+^%K'^],.&"1U,;#5N;2-%I[<*C/B;I(B7 MB2),T/N>D&I]W-%?MU;& V5C8=O,'W=@P]ZU&IWWZER^X(L3,'\CB4E6"JV2 M1R;&+Z)18ML( DM7DWK\U"$%7[09#ZWYI/E\D]-#"(,_^/SF<9,&$?RT9JT* M8>*WY"7(G@"#9!FPI8_\E=F0^L$<&FX@$)9[XAF=/T5Q&"^W^L"#F04;^"SU M52\J\SY#$R*^&>1+TISGKJ5"W5,*6Q0OI#/W< K-([R W 60@$I#C0U/9E5E M<]@N5Z]\"3Z?.,"QC4%4>3Z3NRUOBP>?( .P-=]]2R8BR)G/? PRS'GA. DJ MS\W[C/@9(J=PVA-$S[3(YN&>T"/@<>Y1Z)K;A9)F:GAREP0LE-6AHIH XX'P"+E#&Q& @Z^/X$N/>=]RF8E/O^4OTC+[W!/ M9)?5A;%OVW>X[+E.JI]K*FOG@!XZ>X_8]PU;Q*:+2S8I!=EUD# 79YE0VMX* MU)O&Q--;!-Q6_0H2]0S80&BEK0Q_"R!G^(DX".=^9YZSG= C9:Z5SWRY-;]=1M(UG?:]"U0ZC1W(3;FGV2QRR MG?K-S:7:+Y!1]>8(J%4L<=TFP051I7Z'RAK9!P%Q-%VP)9PF%EGJ&N+^\&!2 M> <+%24R=!C4-&6S0U[Q03/:1?PN2TFZ>4P#/_"28:([,'_GT_<5#)'&Z 4*;4BA5J#P:)8UC]1?W>D.MF="FG6"A=N M?"!Q57T K-14(Q7="%-N<,34740+D,@8\.)"H^T 4&CXR(-T/C\BSQ\=+[>@ MO*9)F=/73EZS8<(% @>-U7NB@U=4"]5Z" MUPK--Q.Y!UC!V%@H2SB)/'<:+".( M^9>?$"?@Y*'Y*_+D03H)&X-LF[AF0SL)1+T4)ENDTL.4'P9L\?!K=8C+%4!$ M%P:9\XM+P[O\%U444$F)#1MZ-0]S#;J\ UWYS##]!QFL%W!S#KP:MIZ(^[D[ MM2ZV.Y+\09@1O(XKJK*GHTWVQ #[=^I/HCN^+HV>O2"$.9HM?^(YF:)>^XZV M#8Y!U$"&O"';H GKCPD\A]Q(:\_?$4C)FSC)?[.)@BQ]2[Q2GN1>TRGB^B-$ M]5)S0_)V.CB(X'X=R+V-^1DAU;3=/?.-K\4CYP>'KMOG MOR[L=K*][5#PI)/\$7J1:IS4*J.*ZR,YCL31(+^U2)=!Q&^L\[_GN\3R@KQ?^>S=%*Y"MG+0M1PF(;<6'%UC-E5I)U5"KYOY< SLB%$AZW.FE>I*O?FVU5 X Z=[P?\ MI;.0K+V 7ZLKK=BL*)ZZRN^#\SR^_%X>!*EH MKFJ]>/[10D.[![M&D<__52 ?WJR"Y[ TP2%[YO["0ZX&[9!NRXD,[(YJMW(% M_K9A^#H7-6F*,$[MEA _(X#4]:(T8@'1(CA*B^NEX,%R;+\1#NM9]9]OBXGP M# 2)E!+*/TZ"W4GE69$;GW^$EUK8)&GU&FKI*A1#)2B"LHW:.NLDF.\J.>8" M?Y?6M!IN9'W89V1]0#BR/G0>61].S(@GZ0]\V['ZQ&EXV (4:8 MO6&R46;F1CO2K%7_[]'F,-J.>$D+;IB8;F;(J' A4*=B>X<@*D'GY]-94>(J M$C**(Y.!CDGB1<8VNI2GBL! $CG>JCE#1XVKAVQ4M>VI-)=%4A#&TP;R7/B! MGPDTOP^(K[TO/6OXH**I#Z!E.#7[W\-'\/>NJ:F=]XE M>KU:)R&2DO9Z2D2M;U"PV04%.<<] M,!1=,5!/L FS+-JE?%_ 2(RH/\PZME)=*AQDDC\?D#.]'6R @!HW<9I>L]]? ME@],3\N+1A<4+CR4#T/1=/R:)9ZXYI!L)QE=I?;NR1$_AP@:?5C9'N\"3S>[ MY\)W'R:[+Y-'_ND"?_SC9\C<&S/J,\TXKQG[7T#ISPC M%=JO+U-Q^([IHJV\J^QR!U$LQF*S\HEF3[%?J0UF7E85C(CF0C=]+98Z(8(( M&=5*:@/UY$K^7=:&> U'?62K:NK<#Y<_R+HLC M4N&%14QP#S?LVJ]9%E?Z>;6P^]UU=\7PLQ> J"N[Z2T9CGFJ]U4UU7M4+3' MA9&*-#1=?;6A, ?5JP%J#H/<)*#N;"O%+7O[:I,_[99+([FXH0^:VE97WA*S MZ]\* ^KNE.EIV7L55C3]5#P[>\E+H%CV58,)=7^I=+4=<45)@IP?3!S$B@@TG5AY MOIA/_?PP)I\L;#TDM034'6NEN+5'5'F26:RA7%PQ[^*8< LG4-7)#FQX)UVM MMJX;FR$[T=K3O9I+-X M)-Z**Q(<)M&_PPNL7]@?-XETS;5D1=2SKAJW:IKG_)!'D$LH$T)@_'(A))>" M:\"*@[^N U;"C:A;.RCM.&!+47@&;'Z:,(N9+_!+D#U!VB]3\#I.Y/6L="/8 M51:BOM_;!.48+XYKV%AG,DE%*$^/X&+S"@%5P0/!XKZHFIQ.%_HWE&5 L.=& MU/4=E&[?>2Q$P%'[5?%0="Z&<#FD(@C7G)Z_I=AQ3I=P(^K<#DH[SNFEJ.'G M=-"2HS=]@G2=9R\$2(I:L,W]AJR'7?@1]7$GM5N)H-##8M"R'RIRSHB01"2; M+327VZ#L_E60SL,X92[CC+YF%R&CD76R-3.B'G;7V>86&@$A9">%_ 7D$"[H MOP:+AH@\@>U=' ;SK;8G5;2(.LZH8CNBD3.P8<=9R%_R_P[?-T44%$H_@9=0 MED70]I*9"U%_.2@K>:B+L[*. ^;R-J"H]?"7&4^<'[X3XB=BF0LFZT MXT00_N^H<*L*2.UUJD+ [N!\)V*(,QP[XT3ZU72Q2/EU'O8'>"4VD%0DWU,> M@FX_J!EJ,%P;P)"GO!&07MZ#VGUAH&%_!<]%S449?[8XC590.N#ORK"4AAS1 M3&VC9;,CJSQGA/TKI#S/'];T#2E],(+ 87^/D$M[X9H#!,\0TLF8E0&;NH3J%4U-TX2[ M%$1PV4/Y)C*$J',NB^R$D:*06+7SJP(1=GY%NSR)]Y9M/&8O-'RFGYAS^R0- M<.XG\41 X6"(,T JLHOD:7 >V)9/R"?B R!=3>J';R(1HC-GK:NJQL[+K M=MQ#Q&YNXF@YH\D*3KOK%USA6*5(354?IDMBK8>4BV!L'L6<5@$^)O\\8Q_@ M:0=GS=O!_(RK3/'59R4,'=6M;7W%BW>?V%*RVJR*9)JK#=6%Z!WX$4T-G=0V M;>N%')(+(F4VTM4&DTMN9?HD8GXB> ?239NCB%/K=XGF>W0]))=S7PM[G MX GNW>NED!/L][;N^_8\2#R%OK]F[;UOUYT8]^[W M0L8)]GM+]7W['6H:HN_WSIU]:CU\B&Y%VY&[*S!0V!TB2<5?NO6O6MY)=;N% M&1W1<+:[,E0(YU=U\S^C!&02E/,(%(NAV MPQT1_!="7&]_8+OF40TY??(8;OB=A.HUE[LDB.;!V@LGDPP M1>!VDB$:5[T85$J'B1I-$,:I533'HEWDG"HX3(>B'3$Q\*FH>Q.H#D6[23II M-&B/1/?"PX!GHL[- *&&@P "!)TR'FKZ'Q(.(/ADT! \'V9Z $$GC8:J_@=% M Q., VF3D;:=Y9=,N0K'ZV* Z,D89I2P,3%=D>2[PA'+U[BWV[@?=[I0CS( M,'KV@A!.?Z_CY"/CE;]J>*1O(3B&[\U$Z7L8DM(.I/)-2+&NTN7?)?S#9T1\ M&H9^_KA&^75^GX=_?[#G4+JTY73-=\9<\702B:O5U285@0YX@ 3RT3\F<=J^ MYM/KUQ$@>$"CCX#I7)\S@=Z4!RW%#?LZN/.05Z$7T#/-AIR+'\VM_ZAH_=N8 ME_ZACU;QC(O++UP7' M_1F?!WNBCH;SF/A3ZD%PA.,I-YD%*(:C">;ENY:O@UOVEX,#7729% M5;VU>ZP<36<5%]^NJ<^&?NC0:7:]9);67_+WXA M=-5UHX(%8?^9-%5V'/144=2@_*5@QM)?MU0[UJITF'NFJIY5=^0EZV!WD&], MBMIW0QR75NRI/,53/D^K>2'0FA-!Q*:CPMK^K,BHO,<[^'.!;A52*/QD&HYLPG".VHPVV,#@C!2NJOF?_;-;?O:&UA\(&[O/39#8\,ZN@1=J9638>)=L"$&SDN[<<> M G_(4D'[_F!.[4"]4;XT>,,0<>DER781)Q#'E_:(FAK16+%0LMDSN_<6@8?4 MF ;O&/65TTK)<'7QI$Z"4'9G%_TU/6VXD[^3.73Y++<6T%=5ZBKK9 %A46>I M&R805%QR;@EMZ:7NTDX9'.9B3-WA,7A9)M?6T-9GZBSLA.%AKMC4&1V#UVYR M;@M=$:?.PDX9',:R3MW!,72!)[>VV!\1)PN#@_:]I+.KO[IA/[%?%[]B_P,) M6.PW_Q=02P,$% @ #8&/3G(WO$^?1@ OML$ !4 !V87-O+3(P,3@Q M,C,Q7W!R92YX;6SM??^3XCB2[^\OXOT/W%R\N-V(Z^FNZB\S/;?[+BAPU7!# M 0MTS\[[9<(% KQC;-8V5<7^]4_R%S#^(J6,A=(T%Q<[U562K,Q/II1*I3+_ M\M^O:[OU3#S?CO9H'U3.AOHZ_^U/KP_>TGL_7F#6#0B;OU9F0_ MXM?V9-BZN7U_<_ONYL?6S;M?OG]=T.]US8#^D?[N\_^Y[;[[0/_GYN/TYM-/ MMS<_O?O\_X!?"LQ@Z^^_].[U7?Q_4?>_V);SQT_L?YY,G[0H%QW_IU??^NMW MJR#8_/3V[7;VW?O;M[^_;$_F:W(VGQC.8R;,_)=THN-4M3O MYO/GSV_#OR9-.IPOI2$<<.61Q5^_8]W?,*%@ MPL&^^N^0OL%N0^7;M]8;F_+D;?6)=ES'=VUK3N5P?F?:C,>3%2&!+YJEL*/Z M*8Y,C[)I10+6OO)\"T=1,GFFJ(0AZP\7PPU;V^5(8G M-T!M4^X2?^99&P;]<'&W]2V'^$P&'ERZ/=+IS(CGM'V?_I)-1;@"51JM-F(F MV_7:]';#Q<1:.M:"_I$NAK.9NZ6KH;,<4<[.+"($06Z4^B9/EHPI8[)Q/?8A MX31+VMF,R(]6P^V6(6 KK6-LV>\TS9X'H4DP$12FAQZ]HF M,_)JOF4^6;85 -8T M^ BU37I,;+:-O=F85+:GGNGX[%1$-SC17(4=:YOBP T(->-V;&%B=H^YL0+3 M[A-JT0^?;&MI@N8K-TI]^X6TB70&"V@8[OTC:B6+]3??M,8]@?Y(IN:K6#,* MFM9H#Z[75A#:<*%9'1H0Q($8(8"NM4WS%Q!>OZB!:K)]\LD_MY10@^W, .NL MN/V9CI!0V; MGKCG.:QIV%S! ZBPK&%3+.V@RLJ&38O;Z8P6-UBQI<8YLVD+(Z+*6"HL2J#< MEG5085U"%\Z2#N>P-&%3! ^@R?/8)8%IV?[ ])B?^AEP)*]C]#/;8?$TZC'$ M,H/I(>6F5EIN]!)S6RLQMWJ)>5\K,>_U$O.A5F(^Z"7F8ZW$?-1+S*=:B?FD MEQCP[G/:J,H.S=#]A=]-]?3$>X:@G^H)PL4 V/\82@5OD*@9)?W4.4M!$Z,W^N,_D+X_BLW4(W\?6*1HUFW'IC/D-YGFJQP M20-V/]-TA4L9L+L*GRM4_TM[J/"Z@FW$LAX*)R64/4X7A=,2RABGB\)I";U0 MG"X*IR7T)W&Z*)R6Q,E#V/4<5P] /86/<,9)@WE=8:B:(W> ;"YLS)O*QB,^ M)2O<;/KT%T==R&M G#F9)P.Q^9S^M(7^F@T3OT.Z:;UI);W2/YK.O!4-T4J/ M$4\^F;[MSHYF;+-G/ZXG8A/[S>^\N;:?_("]\$H&LLTG8H?#_\[ZPKJ^K3)9 MQEV?LC=\B>23V?=+]_GMG%AO&0'LAY"2-^]NXG=(_TY_]7LTB3%96NS;3L#> M?A5,G38M;IF=:5HJVMZLY7ISXE'(DC%-;W8D"_FG4W&+MYOP TM9Z.WN+9MX/@^77%,@'A_PX5%"M: 0GE)(.75"7KL?=VS,-@5!\P@=%(<4: M$3#6Q%M2D7CPW)=@Q5XQFPX7B9(.0$1^P(<(EP,:D9FL3=M.HO!XB&0: I'X M$1\2A13K1&!%K0N 2ARW _+_,T+^%]"KD?VC[9-MS>YMURQR&^QG?=0,?.3# MQ_T"YZ[4;Y'R8K2K@_W 9AMI_4J_E"XXG;#PH/QB,Y@"%:\$JH.AQ2 M[^EO2G:,TL909% =SP6D(X!C1#S+G8,!.6H.A035L5Q(OE90IG1_4'E_)T[<=G1Y=]MZT]KGL*(_=X:#R;#?Z[:G1K=UU^ZW!QVC M-?G9,*:32C=W\51#G!:F_Q2"M?7?+$US$TD8L0,_^4U6U.)?_[Z?X7!Q;SF4 M)HNN]*YO"2[ZXNZPWI65YW3RHI \,2'9=KHN_:3X>JQ$)934MY35A4;LP82" MDFNN[2J0S^$B&$I(Q8$&2ZH7/F?V5RR(_-FT"8OA"#JFY^WH22A,BUJ.#K"[ MMJM"$!!N%9(P@81.FZE[=ZQ AI%].'@?/*HH>/Z>V+*$2AN MK>W:L0(2/'IQ(#+RR,:TDF<;R=)[1&,Y0*#.VBXE*^ EP0T<\ &!J@9)_;>3 M5;86 ?/IW",=ZT=4E\XPG%[@L@1 K*5FK8N>@;+ YB#]%I2[(_%[:;ORK*1G M8OIQ*%CRFK$>%2#($H:#W?>68P6D;SV3^>'=:$065S5$_?3=>5: M!L8$'("E-LB!Z\Q$&U%)IU:*?DTY&)7.'P$?=>OI]]=R/()AP*F9@V^ MVN#UT7=_6Q6&4A11WW\DWL8XLRO85YYM#\5+F6L"P/!B/VLQY6C088E )J9- MJ6)/C'U621 "$J\;%"ME/HLJ6(GY@ JRX^6CK,Y**72B[E (E7DHJD((XPL. M*$-Q8QZ5UYGE,^,7ND@*.X+O@]' !^0%#N R^9[ ER/9]E"8E'DZI&'B4XX# MG;[K+*?$6\<)C4HRR0M!DQP&BJ4RMX@TEI7XA /B=+& X]OKCFW2O7MAD;D0 M8*E!H/ J\ZI(PUN!1SC S1C.F;E+'B!*>D/A5.:G.?4XP>4*#ASS),H$8 M*7.RR*^HI11?D'/MX$>7\L 4=8,BW G3#E73E7&DN11L-V;>\_#QI$?!@K: M.3PQ'*Z[I]"(:1DMW\)T M(D3G\+^ (8*BT\@S Z"Z=,&#)UXG*,;G<,* ,087V=:MA_GC3\^9V=MY6$S* M"WDLT!8QB$< M^+7G\S XS+1'IC7O.;$3A.-'+^L 15.9_^"P!H4=6Q/&M9Q(% M4O==G\50#Q?TN,Z]*I,;""H/RCQ.YU']:OS%(1Q3CYC^UMM!=NJBMN"7[(V& MN)Q+\H?NS]&AVR%+)C'ZC]WU,%#U\0TN:1M'K1:+I+2'12!GG]2GI" MY4F9 _ L\@3E8*V2@BD/W"B$8D4"UGY/[5%2N/?PI'"M/QV-]^=KDKAKDKBZ M'EI=D\1=D\0!T;!M]X4MNUW6W3\%B:^?3-(E#'^6&:5+2N$H<0@)NVIU M>4Q7$,9A^K--0E8[\_::V0?_"G]?FFX#=(X_\0L-2T%7*U]Q2 O"5\S71\RX MCN9H;UBQANE^.Q>L]# S]$*UFH=>K1'QPMH;T#O7\OZZ,\-IN(45,1.C $25 M5MK;8.5ZUK\.!VX1\/E^NO/.:0"\C'EX@0Z+=TJ"G/31G8-.&\#'3,,++K^ M%(? 2A6DFGVA ^0?#K!3D2+R&S:HL_8<;>>.N&G&7ITKB0;9J+F=M"=[.S?0 MN/?HW$1%&W1I!^V)Y/0 BW%OEJSL6$9:I5VYV5&MYRH!67/83#178-Q,TEA[ M@K+S!\X<\PE?_;"]?]$?+H8;XD7O?,-'&*F(+A;+57R/_(%WCSR9TO\\&H/I MI#6\;PU'QK@][=$&K?:@2UL^CL;&S\9@TOMJM/K#R:3UIR^.2<&@T])YR1R% MK^V)$KL22SMH=:/&LYDR20;BJ (.>[/*8A?5S# %56=*C M/W*6RZ*V.* H%J0R!%+33^=/PX!"4@-^0I;10[-7"P)(<;TOE,P+0K2CTS\MP%"3.DFG:8MQ'$>6$OW?$H M0KX#Z5;$]7W 0I(J$\1U82_=(1]"K@/IQG&.C-.: .(<\RVQ1#KF3+K<>ZEB M&E$A<$_)8V_MV01_M8)59^L'U.SVC-?X3,Q"C>C_S[DOI"H-IGO_*,6G$,8J MC,*!-"O4-URPVDCI56'BVG.Q]D'Z:M^/H H)9P1VX*H IG\+D^ _%#A<@#UX MKN\SZX?WH/BH$?@9(39("DC%@4'LP'26<<%+@(G!Z8(F]%.TM@G)QH'.A(1> M] ?BT.G:+/1XOK8X1_67W/2H,'( J3ECV8 MEC-TF#][N.@YSW32X9T:YVQ=UD%[_&=5/1.P =.I<15V+P0A'16Q4K(AJ8; M*P?S*_&&6\Z6$GL(&KLC"]*<KO0 )#-HZ3TH]KC2ZOO MO\JAN QII:3''+TC#N%Z9DL[0*5$F3OI-"DI94'SD[@-2 Y!6>::8]!KKS# M%)';=#V%)(\<$<]RY_3W+*Z:=$GT7X!KOX:QH=*B\(DO]!*@-D[BL"MY]-S3 MSK)/UU\G16O F5]X *@L+ M$ JSPG?B%152DFE\]#KU(_QU:N?G]N#!F+1Z _J'8>>7 MGX?]KC&>_$?+^-N7WO0W'$F/J^0Z!';'\$2OD6]5I>"YOES%^CJRC_?E:B1* M['CE.A(O5XN[-1&;8DIPO%S-S$WT@K6D.3)4>!*7M46+"4H%V>)(2U/Z O#@ MO<@VU?U(J0HLQI:!7"QSL"^NI^VBM&1($8G&-5@T/^$M18 <*UY M _(2UY=C2NRY#OUQ%EV%>-%57<])-["V.Z.L,#TO;"7Z#2T MNLJ04]7^Q1:?_ZU%\.H/U#M;1*[R9>$^N3_1+I-H7(_K]**(G(KK/1^A] M9K_?(GB">F:W&:.Y%I>+X2#8=$YQF\F@C\!C4C1]14!BB@$T_=6][;Z4U*/X M)!'QUY[\W+KO#W^=X CNVU,F%=-7T$OO#LLF1$\GSQ:%^V[WQ2?SGK-/XM.F M%L=S5*16G..FPEA8\@-ST,SOV14YAF-C5VM3*7N$6YWK*E_EHK&4#Z< ?^J. M"34;9I9-CHB=NK5INIJOZ;[^K$W&5(*!8Q'I$@K.S JAH3_;)#Z7MM?,COV7 MP#$(ZZW[2E0IBFX%AN 2@&B5E,[;(>RH.[KIK+"#F(@#\>,D-M'Q]9$$*_;L M&)#M"]A=]_WW&=&78FCSO/]W7]V>6$3$+$6;Y#$EGE:?N7:_K;I^"Q=:.[T/C@J9K*ZQ, ME6)FR3\9$VA(>+>\LQ*:N<):N(P=E!^+UTQQ&<<8F ML \'T-*1=Z<%UZD+,3@CNN 0O(;ZMM++5]\UV<&XS](;,1[RZB*(^FF/$SBC MC,!XB&,-R*:Q2M$;O^X"E?@&CZ$]7J VQZ,\Y[ BGC)/PB 9JAW$>F;7XGP? M@\PPVO.,5X!+A#> ;\T_-.;)[D8U'\Z2) H&! M<.X2)89Y4QSZ-4MN03GJICWV1($\%/#E$N%/7.\=:CLOY40@UU5[QG$5RT(Q M?RY1%$8>V9C6/*$X2>X=;Z"1&TU&/F#C:4]KKD!H9#AYB9(4DLF"-J/M4UYT M2@;0GM1<@:QP>76)PI%8YB-S%T;W>N:<6X,,UE][MG*%9Y@B3NGT9I46*RL@ MP-N2E%^][-H"UE5[!O+J&,.)U ^O0L5GU"8/QB0/'$6]M6:RD3+!+;*.PYE.\WLG9FKQQM.=!5V)CBCEWB1*3&-5C0L_G6RDAR775GCA= MX8$UPQ]%SZ3+OR_0Y.(-L;BS]D3G=>_[/!Y=HLYFSC@5+0#>*% 1:9('4LRU MYLL*_,:O7%)DQH#*"5X7I3S'FEZ[J(3B* RTGJ=YW+&@,J,^ \_)C_, /,-Q M$4XWQ3@P.15:9+^,$F'*1M'!^(8$XGF0:,4'>X7G?E^VP@3RP,NW>!#@#,M(EH"I3FD+/QW M_T@ZK,02A[6ZJ>#T?;C)<4F'?;Q:Z"OTBY?$*'JVSD] P59WKI9&SE7%"TPJ M7^(X[D7!KYR%6=@1BKBZ$W55Q*$4*M5P/!4F/ZH[SYZBDU4K3]81L*VANDF7 M^#//VD0)].ZV/KOL9TEV'MPPCYXS(Y[#WC#[_E&(X5&IDQ]:;UI=RY_9KK_U M"/N',>F,>Z-I;SA@]4WNODQZ V,R:;4'W=;#L#=X8-50.L9XT&I/)O0/K!** MQM(G0V]I.G$6P4.UERA3^2C%[GV&0=,^%((1VRXU#:_3@#-9Z.!P$>\ZW+O3 MHK::BZ'4BF_6?:_3'DQ;[4YG^&4P97H]&O9[G9ZALY!1GCI MW0].'XUZ=V?ZEC]>1L0P) ,]G:0^=_MS,I [\ M!J@?J+/N\F$"G+(>7#@_<*@2))MD6JMNWF6U*M[S(IMV./W9&%,%ZQB]K^V[ MOM;M+T6*6+L*&VM4+);!UP]C"\/D. 7P2*E:Q>$T*Q\'P8S>G<0N')J835;[>X"O=T89C:FC^9VM@Z#P[)O/?'28(2>+,Z:3U^B0W+X"6\7MI M5B8 /KFK%#$3<.A.D9NX6(-NLQHT&@]'QGCZ6[A]&7_[TAMI]L&4OFH5:Q.@ MJ]X(X^+92>F8W"B:=0Z,93[<6)I5.#3QP77G+Y9M)SMPCP[M+*UR>_)]5B$? MAL/NK[U^/V5/]@;3]N"AI]F>3)%VH"K*:BFSY4D.H[-R%V2F )65'4>STE;" M.5NQJQ+K<*AP42K?(Y7]D%792$O9#<94IX*F)@ZXBRAJK%'94O.14BY1/]TW M#N689%0&Q@ <*E*6BNY(33[F+P/OC?'8Z+;&!CVU?3$TJDJ& )G]"] 50=7B MW.P J@3IJUF=P+B5U"$6LP6'@L6Y8N/\\GOO9%&FN".=^U3@G1Q_H2IG_'UD M#"9&VDO9[[7O>OW>5.\E7?QTF)$8$FW:@,V+VTEG$QCH<:AL_C7VS86]CPT ^2O!1*,"1MN;"9<9&OSTUNF]&;>:1 MF8[;@TF[PX)G]-XC'-[[IFF"7"J(>FI-#U \.2G]E!I$^VT"#,=<,@!I/N%0 MQG1F"D &@R/-S 6\#(93NGF.VK^Q6[UP$^VT1[UIN]_J&^V)T1K>]7L/;=VJ MRD_6 +%M8?VU&KBY*:9$$1+U A]!N[$K@V;.XI7C$PZ=G01T2BR]$/%\YO0- M=L7ZF8]MF0X[O_P\['>-\>0_PGN,Z6\:%3&:NUCALNUTAK+D6,\64+F %O@0 MFE6K&)]L,(LL1YH?!#X,X[_9M4OQQGB;"W\91L'=HWY;[\ZWG]-PD4Y%%ELO M81WX,'K_B24K2Q*; 7;$$\?5N5-"IWZ7GCID SUU8-W[:BVRDMUOZ^$VCFTX M]8BT>!DH",3I#!^-UK3]=ZW>I/W$Y8)P.)TPO&&6#,+A]=(>A"/$I^P],_KS M9ECL+8C6"FIXNV$D.7%*7U7WG>D<JCZA?5V5Q MSP;9G1?=[YX$F.0R5PEHQZ(LD#? W+? M[FP'OA;X-:?DJ'_ M?'T67,_FGWK#'LYL![)*>;V:]JP7P@,DJ7#2,_UJ>A:[F4RRJ!F4YF 7S1\( M'7\((([*\B&=!B2$/3A0_>*3X<+P VMM!KRDXMEVX)KW6/ I)A0'"'%L.Q%59RF-YJU2&+3B0 M/$H!D<15'U)!B/05V!V(I+(TR=)(2K$%!Y)AVD4GB/+)C2W_CZCV(ON)>T8L M[P1$35FUHBJG0A$+<&"USQ8!7C++>X#/[FA@$E%?4.#IWE/%-/_B3:+26&@***Q^4CS1\)0_5(5[ 7%!T;WKD>LI=-A%0J_M..WB>!03QA2"C*>-Q$ M)_,/AQ@8IN=0HEG5Q]#Q!09;V!$**1X/$9 7.( ;>9;K1;4ZZ;9@F[X?AH&$ MW)W_8^N'D9NI4A"\TXSL2%!H\;B,JG(+!]8#\I*BV',=^N,LJF40R2A8:^5' M@F*-Q]%4E5M-BNR:EB>VOLVECI&)ZXH&OD9UU7/[-EN1^=8FPT5A% RLMH/4 M($V+^:K (1Q+\F'BG.6&73>%%=7]GI-N8SDS:V-+HE_/=QH73*:&T3B$B*[2 MYG+ID655BLJSMBV;?>%S>W>];KN]BE8 M;.U4J9+PD9WO'QU#?*$LL)'K&+@Y871U48QIS3CL;+\2:[FBTMI^)IZY)(/M M^HEX5&C#(I70E:'B<(V+P3N);=B0;U/*YY:]90%E$S+;>J'-:[S.["T]-=Y3 M9K$@M&U2S##KH9(2B_J^U;R8/F4,1^(TR%3KXKD'#:K?GF':'VBA4 MDSUFNV3NYN]V#\1=>N9FQ=2\[1&S@A50_S=U^PXJRY J]N-8_#F5#WG[0"XS M*K_^(89-H=&%$%,V2 Q8F-<=2<_J/8TQM"BB#6P#H>J'I=& MY&EG+B]JMD B!GV\J$J)!R';SS *[@CD]U[1"-J3M\E64)1E#@YU*ZJFR%&Z M][F*X;] MO-&%6P_K4A8.J=6[MN>Q MP,7CA+_R-5[% ^FNU5%/P5CO116#/;I^R%0R ME=\?Q6/H=E%)EWR59Q .]805EN2I:"Z'LD1Y20QZ^@W4F3P()YMLSZ%3VD(+ M9$'Z:M]73Z@M"><-+L_#V*X1' M\6*BJ@M/A4&U&PUJQ:8RFW%L)ZD*JKSM)/>J(EU'%<-VN0P6_H?/[!F+#8T2M-4)82OTL#:(_MDR[+6Q$ILBSM;9ER'+50)8928V \; ME\23EXD*@^I>W$\1B,H\Q"8,QF)!V%9S$.LQW=E8-D5G9MF6*?, _[11=9\+ M3Q&'ZES$)@_)G1(E(;X.=D[SZ4L.J#OGPBE24(EW2 0@2:WUU;2W$;.3E *@ M$I>0WKI3*E2 5H(K.$QR3F5JGHF>>_#&K=*.P6;_YLJUE[B@QTQX[)0/>K@A MK(Z$LZS%Q2\[O/Z"T2<7=Z^5T3A6A53VSN'B;NM;#O$9@Q[R;%2T;N%5[7F'3&O! &)4XFT7.A^&.M_=>TQBAZ2].)0T./*G527HU2D(3AR>Q=I6E/Z&\( MT+U63VLA^_.^>4!.5TT1WS6"?:V42K(D;A6!A@&55C'2UM=E23$Y)T&I47! >XJ09TL02I%_L,RPJ?ANY%G,I(F< M\-1F\W:/A-EBDLK-&4?WO445>8>HNY!U.%R5Q<5JVT&'GB!WU'I@OCJ.\0/L MKCLG7*D1 2K=6\(-' 6"]_A!$;FR>3;:V811KYT6?T5CZ=;C\$8G\:P9H*> MNC>I#_FC077?-RJ#OX!U.&0@R358#NBAA>[+(C Z6:)PL'I @NBZJ^_Z/.?< M<3/=":_!3"\DKX$NM9MBGUHN74\%GUKK1F\ZRE KHJ313NC%^=4*5DEF44B* M2N &#P]C?2W24)T=;XA<]D@=K[MIY;<-2:W'WPOFZ!;$[$II@2'WRR>D\@Q MEFF&# 6>A&5!.2;D1!]625&;D>@ =*MJ)10V=?C:5?B?::O[L#$R@@4\@#'*:7'"K:;=GNSL6-O9E2' MMK-=;^TP&B0*K U+1H>UW?D;2-7QD*UIO)VE*HDI;T:C !?M3M5'Q 'Z:2IP MLG"@NM#IF/9L&SZL^T+/W%Y\0'G86G,6<=MSHLE'KW"F[L::?7KW272Y<\J8 MNC?=4[4E=U5P*GMQ[!I=BTZ4LF]&[DCP0HC#I82EZED$Q(,*3#VCZW8NURPZ M=;(WYVG(L-M5P5X\FS_/FP?KKOG\5PY%U M[LGP!0>6>QHA5[6%C75?V,JBQ*$8!R30!.6BW.3G+OL+7N9**B6AQ,8-V!4/V@K$(S),NZ%"N:;W,D+^?#A$I"H(M; W']42NN/$)Q*&$J MJ__ =68B+$J: \'XK!4,+JG-5ZI4'"!=1L)D="O7IGSW6:1PL!/OE[RJ4$8N>[)O!N^SN%ZK,5]H: J<\R<""J6\ZV?E,)YG- XD,!O33?8TMC$P%TW[FZ.#SQ&0KA;VT'UR$; <2KN2R^M&EQ2V1+ M?>&&6SIY)8'0,FQ/2T3I'GN8?E%SS0"4\K8,@B(:U&RS Q*\N-X?H*6FI*VV M[93/K_PZPZ55T:(^<1?!"Z5BO[1M-QO7XS^P$?31%NLERV\0[8KX'B:V#;=R MODP7M-,6@27+WU(:%?'T,?+1'6_7?&.'[<1UL$ MU,E<+Z(=R]U#0R*SM5\FUQ.:7<<-)/8KC??%5QKO:[G2>'^]TKA>:5RO-*Y7 M&MN5QO5*XWJE<;W24'JEH2[KXO5*HYSK^BZ2=-YH2*_U4VM-CQ_#1?BT M?<&*L#RX[EQTV1'W!G5&MB_P=F<0/3ARPPBF*MJ[@=UQ8"]^FUK.)O'LC(F;"]G MRQCQ%JZW9MG)AD^VM30YZ4/9 !+]FX" )$E(W+0SXIB>Y7YQ_ V9T9V)S(4N MV_(NFF&21*!8@1%_$W8GKT MMY^YS,TVTGV$DN)J,85*V7G[#L#.0R/M:;3Q&/_V*0]_\?6#Y@AI%UD1=9-:DUE:2Y96]9EOL)F6V],*5>%,! YM'5Z7JSC=@Z7"3Y M\D;$FU#CCMSMB@?@ATDJ_6B#Y$(I'W#DY1%&!)<^VN#: Y[S.'.*1''-.$]SVFIDARA;Y9/BF M7#/4RLT&7D,,3"^JE5-\ /JAC@/0_AO7@U MI$2IDA])L'+G/>>91,X8CN%6 MVJ%I%P\"RG$LT)%]8/JLWL>:%4B*V>F9SC)ZTKD[-!F9._:K]HOIS2/J>@YE MP3:D*RQ5,5V9SG##AO ?Z!"!WXNK>G+.76>;@?9M7OI4?69P+ETDOU(=)/.$ MZJD;F/:]:7E?37O+<]%HFD]S;FLT,^HBA+=0,7\EUG)%*6\_$\]X(B1__%4]YX(8V)94X)I-^ MN"BF_\[JMPWKCZ%^%880H_J;L"J+SAKIK].*2L8_JK+X[EL,/R M7.1I*6RLNZ2H-+()'C1+DC G+]\QF'+DSBQVE M/^8'XU$K:JQ]=X>BQR&U^5K7)73B,\N, M'7;M-?-)_$MP=41N@Q1>0YV(YO%A3KS MO655#K?,&-K-%BCZ\HS!8>N5FQI:N\FC>G>1,PX%.@Q+T/0R'2 MXO24>'6].'LU_N%Y22J,L2(@V M+&K7!*Z73%W?.8&EG!@NCN;$.R=PFNL_)Y0+3XK]' K4Q $]D)^):0>K&9T^ M-_BAJ*'.0X%0--(!$.54XC!5.ZXS(ZQ:#^/V6IO>'_Q81''/ M)BP\8&)PU-W,SS.9I2A(4=P3!UQ0@10"F"4/19:F,-HL/DH-B##.J*2Y[@ * MJ!1F;2H>\3B6PWQV51%$Y3UT7ZA71$G$ AQ Y8@;$8_]PER2&XE%\*A74UPQ M$-IQH)3(4MN9A^_0#C+%/:.[=9>Z58_HK,'UQW+@TBK[-N&^D$$,4\008B-RG7<2O=-LL)L!1GW+H<$T40_/0> M;*O@B'VZ3*N%)5&-?+_P9;*@3W.ME%(&X'B%E+Q(2S]&XQX!/F35:C0>CHSQ M]+?0Y6G\[4MO%(888C@(E#ZW$RL6H"N&X+9&!AB"8;E&&B(+/4&E4V41%@4*@SCAPDY!/*)AI(E%$##V:E <.\8ZL M"5%0"K>3;M>&A'1F4 /P0G6VKONM%QW,[P_1GT.O0T=@-N 7GY0_MSK*AP4? M1[<3HP)<%2G%Y-<(9QVP,XDSO[=>V4_"AW2\/KI]'M653LP)'(B54AAF<:JP MW\7]FA(5!J,?!U;MV6R[WMKLHC:=S8?^;)."M#X5 MI=\G=)KDSK19&-!D14@0S?MN%SVCLDW?SRU?@F1VM7V@,:G/:F9IS>L[+D>[ MX"+KHZ3''<=UUL7ZWM/V2CD-QZUTVV55/>Y%M.*XMV*Q!B^6;2<1>CTZM+.T MA!'[G[+*]# <=G_M]?NIB/W>8-H>//301.RG:#V0&:V@,G?%DL/H3-,6K36)=M3@][<G/5?G,;:[/C1NK0 MVVL,B>[8!,0Q)"R0.2!]>G+."=B1JX(;2R(U2(-PDZ(+1VP)9\J'";,42:(X M$^F!<.!:09[AH!<3CB(.);FZ'Y/(:/97UD9X(\[MI/MP45&2LTY9,5\4Q:2, MZ (3O:<\5!+DE^_C=-!]?C@1#!%YF YVV2KN&7K%M>= W75?9]6D73*\P@$O MAW#!W:2X9U-B4: \0(]8Z@8-5F*KREBZ-\(Z8!4PJOFQ)!S:N=$DHGZZ-]XZ MP+^@5Y%B;]W!.7GDK?NQJK?N]NJMPZ'&Z77+>-T0QR<#*D#3%V(_DT?7"5;5 M]F[0N!=PY58/:VNN*X%>Q'XCIC=]<>N2K/UPNHV*\TM4AI/?I"#1SW.N("H/ MJ-M(T21,:6Y^B^)T[VYYSUTJCJ?;,Z%'F-*\Q'_L+:$A%4]9BSR$X^F.O]4D M#^G85.SR<(X3[L>&XEO'X1=-333Q\5<06)VKJ0P]!J,(L/[FCL/IQ6FXR$ZV MG$)1OPLXSL)8@R-R.]35F#Y.I/:G7/'"2"';DXDQQ1&7G:)$K&>%C;4^8XC6 M_+#02<==KRW?%[QH*.F@67\X*.1>,W!)QF'9%"9Y'[C.K%*2^W1'W5X6.%! M'BB*54C-\_#-,*WE/CMXT6[#^L*ZZO90 (" $X-)=PIG#%J2*^B)LC,_7$^X M]#;]=BM9K>,B7%Q;(5>'I6O<&^.QT6V-C:_&X(N!PE[(4B1AI0.Z8HA>;F18 M.1B6:R@YLI!DQ*'D&:%J>QX]DI$DB1$_@AS2MT$H0M S%!T1.HY\6=9 M +-'9V@Y2RX*O ZZCT-5$1 S01'WD\\>)LI7 4Y[W6>=JKP7LD 1ZP]>HWC& M?,Z7-]=]D5B5\2(&X' $9*@#[]G:G9G@"-<2"B\C=416..=S*WRN!+>]#CUT M[^]5$9!TT1WU5!78&B\]$"7A:<]F MWI;,X_B[?0W:OF4^63:U"?@9[C[E:K2V.YWQ%Z/;,OX^,@83(UV;OM]KW_7Z MO6D/2::[D;F+RO,Z\Y +I@V(K.!VTJBC227P\+4]%<,#?L(5&-!5\T$%@%1& M=\'LP&'H1G>KD2K*0"?JI_L\(@\6!;B,#GX\,FVEE$V&JY9DROGVC7NIJ$ITS?:$Z,U MO.OW'MK3WG" PY2):4SG04^1"HGX@/7'$&G0T+ /&8"NL1_(H@H0QW[T76<9 M$&_-)$P<[5'QQP\ 1+ JJ_'Q,98>+#K5:+&$* ML:*VNL]0?*G*(E%*+ Z+_(OCDQDUJ>:,&A$:A8UU'Y6DX."0BP./$H-$F&J/ MWPV(T2<4&(%8@ ,M1D_/H;;B-BRG(HCKS+?%L;$ XSCSTT^I-AH0( E]RWO@ M *1DQ M[QX8G>)NNB]QJP+"8P*>/;[<4U35A:?]"D_BUAU"OR)]88;C-#86/)L^W;DA:50K4EB4D/IWOK/(C,Y MUGTS4L-RI=8C-*F1,#C 5,M,CG'?CLA8SS6M,ZF1,/CCE(M,EG'?B,B<*">@Y :'P!3UG9F_G+,=O\I=3Q(0WJNZ[8\72(V9H\_U<8BX8 MKV2VI5_?=5S_-%'*C@04GQ\:*C[%C+LLD0'Y0D]U?OZ(7@#X'M +#,4OKA_V MZ6,5WZG6VF'?@._T&HU_C<97>G5TC<9O A+7:/QK-+XL*J9SB(X21.,7M-5] M*2(7C5]*+(Y8(ZW1WS@B]!L4_9V.EG@TZ>$P?*8[)IOX;#AP%!N$)5BKC:9[#5>GZ1U:KCZ=Y/%(K+ M9=51E::?7T:UXG"ZK[/5B4M)I=1O1EJX158K#J?[)ENAM!374;T :8$)@?Z+ MZ$K87HJO?[AA XUL4Y!JYU.N\N*(^?);HWX;2W*=_>R&BXZ[9HD20R;%;QK" MF[C)B@K$$SU#SI.;.H";_\1Q,3B;F^G^KP70Z[4 ,F)]9N8X;@!"';YC.IS6\G09C[O=H4VLYR$E!W*<.=O"(*_\U7P-APP4RF]6 M_930C^+28DSHTF_-Z-XP"=S9'R+_>$ES[6XOA>J0D04NPQ2]W1625T9=9*FR MHJ;L?3Z9MY^IQKZ_915HQZYMTU^R3@7HAZ6"SCP)]-YW'4S! M=&E3F?;!ENG,]R):%8^]-=444G1TMK> M!BO78Z5J>LXHG&DY"(>VBI;8JI/1=@VA7_IULAVUS1 JKR\FZ,%S_:)S7QV, ME9R#MNN1RQ#C2HCKC,]7;2TGZEW*"?J+!;%HR^,]4+4!77U>VJZ$+D-#:I., MJP%?[QTM$0< ZY@+5#WT/WC0AU3S7TNJ>>N@35EU:<_7'E!_J3U6; MZ\!3P"J+.HNCE IR_DPOPS/:*EG 8.=56%. M4'7 ?\FE6QU.EXSK-M*L4XN,LPK_)1H:_0'Q79$_2\,S^YY#?R13\Y7PG]G_ MD'UFWQMTAH]&:]K^NX'CF?V>DL,TQ2XT;B>-2UDTK[[K^_=4Y3JN$UC.UG*6 M0RHZ48:Y.[)P/9*&C_[@!]9,1&S%036_% .@FUD1:F A#J.Q B%T]Z?+&.>Q M\2ECZGZ'>A91R'"PL9)@O%+&4$0LQ_1VH;N<[G0SVI/RF\YOF=23J%54X!_5 MG9OM++(DBT'34_?D;8J2LJ8_@HP*O85,+\JLB*MKWA.J5:8=7J6Q>@KT@S:= MK/'*#&=R1QRRL (QE=5&:YPA<0K3<.P;QQ3D)@U%N*"C;EO@)&QX,)6: 6M+>VH.\6I JT5,*GYSLV8T/WV)2D,I?UT M)S"M7Q8$+&IZT<5N/.<2,HM.))"242<,JCM/JKQ)5P,/<>P1"2&Q^DBO#M#^ M^JMJG@Y8L0C .-?\_2.A]VB%K2POL%%TOY)5)S4R7+PO M"E<9$.J5]Q3]X-1==(AXA8.6T-:[4_57/L-L< MK:65+^HVIUBBQF3F.C/+MB)E27M6PLKO1XUEM55R\,;=]=3(4AR;-H2@XL,, M[_WM::/JOC12(Q8B+C9''CHK%C39G1P)VFK3M9;QMKT;5H1X:$ M9=JGK4#BT9MW(58G5YLC)P.7'86WM-F33>(#_IA"1>>^HGK3)<_$=C?KXE5* M@G,RW]%]TZ9&=N0YW6PIJE]>]-^FG4\RFB<#D!L.V7%TWX:IP1OK[49561T& M*UXMMQ.'U7WG=3Z=/^(C9I'0?^FA[%JL+K2!EQIUW'&CN!!Y7W@A\L,[V(7( M^^N%2%TQLNYZXSHDK&:?.]\"WK/ NC?N4D.*+3B6WMPTXX7$6;*7=QW3\W:+ M*)DE(*0$-(CN2PDYD(KC2"2XA13F!]>=OUBV3<^$/>S;RM:?M[]_2]ZW7=[5.PV-KT;^[6.5%6I+^E^]) L0Q5Y#U2V>HYSY13 MKK>3D)%4']TN_5JQSO$"*69[7U%5@Z]L -U.]KHUE\,EO-"*EYNZEW/]/O3S M+]FJ8P5>9\3WDPPF(CT-[ZYY/73[O"OA(Z0*M28>1SI+J%RVHVY?=:VZ5X2J=(YOCVDS^!EG+9(;47=*DN M/Z<3?]DBE?(82!SW^ -H+VFB2%Q*>76IPC'RW WQ@MW(-IV *HGQSZTE"'Z6 M'DA[P0]%PB+DW>4(S=X(2Y$OEI#B7MKK5]0F#CRNG(K]%,=QHY@_LHL#/ #C MW-Z#4]< -'"+CR#QT=F9IZ;/0G0IY^><,V/&/(>- H4;P\O,2@2B]NX/2,"2 MS4>9,>4\/^E^4!#K/_J? HG8%93G#3H<4X1*(EG2$XIE_?X!)5AR^7,Y9M=I MNZY$L;#;^L_UJG$_I207%V\4KPL^[(D[>EUP WM=\.'ZNN#2[M40&$KGN$NK MM\QWB5%>=CV38JOP M%F85[D>Y6H_ZGY9/,*1&?:B90P)\M(5#%+1SK@#P,,5/E(6&L1 M $6J+0XXBH6I#('4]/>;>JTH^%Z00H#^*\M]^JO?QVR7;K]:10RG?T_]N0D\ M/IYQRJC6P=5'LGXJ3#*2S#)IH)FSQTPK9F@RU<-9]LP69SF.%M*BY'@$8ZWY*F3M<1-M#['$K"VB!=G)\UR%&%0= ,HWZ\K5%3 = MV50_K="-"O@9!09=N7II:E+!"\E?C<:;K\R]4EV/L6-7)1E0#;E_E+UK ",E ME=>GH2\4RVFDF[\599/KFW2_RD<6]0YP;A!*)'B8^U M/MS81+ONVK2<"KBE.^/ 34(^H6"FB53AW97&\BM963.;^*7^R+AAMIUN!XR$ M#&:P*:88QZ%MLMUL7"_8$T,)NS=G<02G"")09]V^E.JX2? &!YB'\P@+UO+O MMP&UE^+;B)&Y"PVK,9D1ZYEM"QU1T'K%X9KBOCZ)6Y=THH>0WW.F+^YOQ/1 MSAS9$76O[8ID)L^T;U!LZ,=)W8*3&E/W]J).='*,^_:$Y][=>C7+3FK(QEP% MG,RV;U!RK.>Z5YW4D V\FJC(MF]-8L@PJ-8T;2AO000QW1^J78?@ M"/+^YBY&,D(^IE..HY:XN1<%W30?=>NX+P$Q!L?%Y2_,A<._H_R85?6Z-^>X#F2C)= V1, LL+EVE)O8,/HC>L^(5W$B?D\;5K[>R,I /#JJ!L5)J'?^%_<\372GH;_X_ M4$L! A0#% @ #8&/3K9S1U'$60$ W T: !$ ( ! M '9A&UL4$L! A0#% @ #8&/3HT/(:'!$0 %\ M !$ ( !\UD! '9A'-D4$L! A0#% M @ #8&/3H/'6E=4&@ A7X! !4 ( !XVL! '9A&UL4$L! A0#% @ #8&/3G(WO$^?1@ OML$ !4 M ( !!1P" '9A

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how.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 90 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 91 FilingSummary.xml IDEA: XBRL DOCUMENT 3.19.1 html 176 316 1 false 54 0 false 5 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://vasomedical.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - CONSOLIDATED BALANCE SHEETS Sheet http://vasomedical.com/role/ConsolidatedBalanceSheets CONSOLIDATED BALANCE SHEETS Statements 2 false false R3.htm 00000003 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical) Sheet http://vasomedical.com/role/ConsolidatedBalanceSheetsParenthetical CONSOLIDATED BALANCE SHEETS (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) Sheet http://vasomedical.com/role/ConsolidatedStatementsOfOperationsAndComprehensiveLoss CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) Statements 4 false false R5.htm 00000005 - Statement - CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY Sheet http://vasomedical.com/role/ConsolidatedStatementsOfChangesInStockholdersEquity CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY Statements 5 false false R6.htm 00000006 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS Sheet http://vasomedical.com/role/ConsolidatedStatementsOfCashFlows CONSOLIDATED STATEMENTS OF CASH FLOWS Statements 6 false false R7.htm 00000007 - Disclosure - DESCRIPTION OF BUSINESS AND GOING CONCERN ASSESSMENT Sheet http://vasomedical.com/role/DescriptionOfBusinessAndGoingConcernAssessment DESCRIPTION OF BUSINESS AND GOING CONCERN ASSESSMENT Notes 7 false false R8.htm 00000008 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Sheet http://vasomedical.com/role/SummaryOfSignificantAccountingPolicies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Notes 8 false false R9.htm 00000009 - Disclosure - SEGMENT REPORTING Sheet http://vasomedical.com/role/SegmentReporting SEGMENT REPORTING Notes 9 false false R10.htm 00000010 - Disclosure - ACCOUNTS AND OTHER RECEIVABLES Sheet http://vasomedical.com/role/AccountsAndOtherReceivables ACCOUNTS AND OTHER RECEIVABLES Notes 10 false false R11.htm 00000011 - Disclosure - INVENTORIES, NET Sheet http://vasomedical.com/role/InventoriesNet INVENTORIES, NET Notes 11 false false R12.htm 00000012 - Disclosure - PROPERTY AND EQUIPMENT Sheet http://vasomedical.com/role/PropertyAndEquipment PROPERTY AND EQUIPMENT Notes 12 false false R13.htm 00000013 - Disclosure - GOODWILL AND OTHER INTANGIBLES Sheet http://vasomedical.com/role/GoodwillAndOtherIntangibles GOODWILL AND OTHER INTANGIBLES Notes 13 false false R14.htm 00000014 - Disclosure - OTHER ASSETS Sheet http://vasomedical.com/role/OtherAssets OTHER ASSETS Notes 14 false false R15.htm 00000015 - Disclosure - DEFERRED REVENUE Sheet http://vasomedical.com/role/DeferredRevenue DEFERRED REVENUE Notes 15 false false R16.htm 00000016 - Disclosure - ACCRUED EXPENSES AND OTHER LIABILITIES Sheet http://vasomedical.com/role/AccruedExpensesAndOtherLiabilities ACCRUED EXPENSES AND OTHER LIABILITIES Notes 16 false false R17.htm 00000017 - Disclosure - RELATED-PARTY TRANSACTIONS Sheet http://vasomedical.com/role/Related-partyTransactions RELATED-PARTY TRANSACTIONS Notes 17 false false R18.htm 00000018 - Disclosure - NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS Notes http://vasomedical.com/role/NotesPayableAndCapitalLeaseObligations NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS Notes 18 false false R19.htm 00000019 - Disclosure - STOCKHOLDERS' EQUITY Sheet http://vasomedical.com/role/StockholdersEquity STOCKHOLDERS' EQUITY Notes 19 false false R20.htm 00000020 - Disclosure - OPTION PLANS Sheet http://vasomedical.com/role/OptionPlans OPTION PLANS Notes 20 false false R21.htm 00000021 - Disclosure - INCOME TAXES Sheet http://vasomedical.com/role/IncomeTaxes INCOME TAXES Notes 21 false false R22.htm 00000022 - Disclosure - COMMITMENTS AND CONTINGENCIES Sheet http://vasomedical.com/role/CommitmentsAndContingencies COMMITMENTS AND CONTINGENCIES Notes 22 false false R23.htm 00000023 - Disclosure - 401(k) PLANS Sheet http://vasomedical.com/role/KPlans 401(k) PLANS Notes 23 false false R24.htm 00000024 - Disclosure - SUBSEQUENT EVENTS Sheet http://vasomedical.com/role/SubsequentEvents SUBSEQUENT EVENTS Notes 24 false false R25.htm 00000025 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) Sheet http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesPolicies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) Policies 25 false false R26.htm 00000026 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) Sheet http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesTables SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) Tables http://vasomedical.com/role/SummaryOfSignificantAccountingPolicies 26 false false R27.htm 00000027 - Disclosure - SEGMENT REPORTING (Tables) Sheet http://vasomedical.com/role/SegmentReportingTables SEGMENT REPORTING (Tables) Tables http://vasomedical.com/role/SegmentReporting 27 false false R28.htm 00000028 - Disclosure - ACCOUNTS AND OTHER RECEIVABLES (Tables) Sheet http://vasomedical.com/role/AccountsAndOtherReceivablesTables ACCOUNTS AND OTHER RECEIVABLES (Tables) Tables http://vasomedical.com/role/AccountsAndOtherReceivables 28 false false R29.htm 00000029 - Disclosure - INVENTORIES, NET (Tables) Sheet http://vasomedical.com/role/InventoriesNetTables INVENTORIES, NET (Tables) Tables http://vasomedical.com/role/InventoriesNet 29 false false R30.htm 00000030 - Disclosure - PROPERTY AND EQUIPMENT (Tables) Sheet http://vasomedical.com/role/PropertyAndEquipmentTables PROPERTY AND EQUIPMENT (Tables) Tables http://vasomedical.com/role/PropertyAndEquipment 30 false false R31.htm 00000031 - Disclosure - GOODWILL AND OTHER INTANGIBLES (Tables) Sheet http://vasomedical.com/role/GoodwillAndOtherIntangiblesTables GOODWILL AND OTHER INTANGIBLES (Tables) Tables http://vasomedical.com/role/GoodwillAndOtherIntangibles 31 false false R32.htm 00000032 - Disclosure - OTHER ASSETS (Tables) Sheet http://vasomedical.com/role/OtherAssetsTables OTHER ASSETS (Tables) Tables http://vasomedical.com/role/OtherAssets 32 false false R33.htm 00000033 - Disclosure - DEFERRED REVENUE (Tables) Sheet http://vasomedical.com/role/DeferredRevenueTables DEFERRED REVENUE (Tables) Tables http://vasomedical.com/role/DeferredRevenue 33 false false R34.htm 00000034 - Disclosure - ACCRUED EXPENSES AND OTHER LIABILITIES (Tables) Sheet http://vasomedical.com/role/AccruedExpensesAndOtherLiabilitiesTables ACCRUED EXPENSES AND OTHER LIABILITIES (Tables) Tables http://vasomedical.com/role/AccruedExpensesAndOtherLiabilities 34 false false R35.htm 00000035 - Disclosure - NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS (Tables) Notes http://vasomedical.com/role/NotesPayableAndCapitalLeaseObligationsTables NOTES PAYABLE AND CAPITAL LEASE OBLIGATIONS (Tables) Tables http://vasomedical.com/role/NotesPayableAndCapitalLeaseObligations 35 false false R36.htm 00000036 - Disclosure - OPTION PLANS (Tables) Sheet http://vasomedical.com/role/OptionPlansTables OPTION PLANS (Tables) Tables http://vasomedical.com/role/OptionPlans 36 false false R37.htm 00000037 - Disclosure - INCOME TAXES (Tables) Sheet http://vasomedical.com/role/IncomeTaxesTables INCOME TAXES (Tables) Tables http://vasomedical.com/role/IncomeTaxes 37 false false R38.htm 00000038 - Disclosure - COMMITMENTS AND CONTINGENCIES (Tables) Sheet http://vasomedical.com/role/CommitmentsAndContingenciesTables COMMITMENTS AND CONTINGENCIES (Tables) Tables http://vasomedical.com/role/CommitmentsAndContingencies 38 false false R39.htm 00000039 - Disclosure - DESCRIPTION OF BUSINESS AND GOING CONCERN ASSESSMENT (Details Narrative) Sheet http://vasomedical.com/role/DescriptionOfBusinessAndGoingConcernAssessmentDetailsNarrative DESCRIPTION OF BUSINESS AND GOING CONCERN ASSESSMENT (Details Narrative) Details http://vasomedical.com/role/DescriptionOfBusinessAndGoingConcernAssessment 39 false false R40.htm 00000040 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) Sheet http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesDetails SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) Details http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesTables 40 false false R41.htm 00000041 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) Sheet http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesDetails1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) Details http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesTables 41 false false R42.htm 00000042 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) Sheet http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesDetails2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) Details http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesTables 42 false false R43.htm 00000043 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) Sheet http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesDetails3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) Details http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesTables 43 false false R44.htm 00000044 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) Sheet http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesDetails4 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) Details http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesTables 44 false false R45.htm 00000045 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) Sheet http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesDetails5 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) Details http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesTables 45 false false R46.htm 00000046 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 6) Sheet http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesDetails6 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 6) Details http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesTables 46 false false R47.htm 00000047 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) Sheet http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesDetailsNarrative SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) Details http://vasomedical.com/role/SummaryOfSignificantAccountingPoliciesTables 47 false false R48.htm 00000048 - Disclosure - SEGMENT REPORTING (Details) Sheet http://vasomedical.com/role/SegmentReportingDetails SEGMENT REPORTING (Details) Details http://vasomedical.com/role/SegmentReportingTables 48 false false R49.htm 00000049 - Disclosure - SEGMENT REPORTING (Details 1) Sheet http://vasomedical.com/role/SegmentReportingDetails1 SEGMENT REPORTING (Details 1) Details http://vasomedical.com/role/SegmentReportingTables 49 false false R50.htm 00000050 - Disclosure - SEGMENT REPORTING (Details Narrative) Sheet http://vasomedical.com/role/SegmentReportingDetailsNarrative SEGMENT REPORTING (Details Narrative) Details http://vasomedical.com/role/SegmentReportingTables 50 false false R51.htm 00000051 - Disclosure - ACCOUNTS AND OTHER RECEIVABLES (Details) Sheet http://vasomedical.com/role/AccountsAndOtherReceivablesDetails ACCOUNTS AND OTHER RECEIVABLES (Details) Details http://vasomedical.com/role/AccountsAndOtherReceivablesTables 51 false false R52.htm 00000052 - Disclosure - INVENTORIES, NET (Details) Sheet http://vasomedical.com/role/InventoriesNetDetails INVENTORIES, NET (Details) Details http://vasomedical.com/role/InventoriesNetTables 52 false false R53.htm 00000053 - Disclosure - INVENTORIES, NET (Details Narrative) Sheet http://vasomedical.com/role/InventoriesNetDetailsNarrative INVENTORIES, NET (Details Narrative) Details http://vasomedical.com/role/InventoriesNetTables 53 false false R54.htm 00000054 - Disclosure - PROPERTY AND EQUIPMENT (Details) Sheet http://vasomedical.com/role/PropertyAndEquipmentDetails PROPERTY AND EQUIPMENT (Details) Details http://vasomedical.com/role/PropertyAndEquipmentTables 54 false false R55.htm 00000055 - Disclosure - PROPERTY AND EQUIPMENT (Details Narrative) Sheet http://vasomedical.com/role/PropertyAndEquipmentDetailsNarrative PROPERTY AND EQUIPMENT (Details Narrative) Details http://vasomedical.com/role/PropertyAndEquipmentTables 55 false false R56.htm 00000056 - Disclosure - GOODWILL AND OTHER INTANGIBLES (Details) Sheet http://vasomedical.com/role/GoodwillAndOtherIntangiblesDetails GOODWILL AND OTHER INTANGIBLES (Details) Details http://vasomedical.com/role/GoodwillAndOtherIntangiblesTables 56 false false R57.htm 00000057 - Disclosure - GOODWILL AND OTHER INTANGIBLES (Details 1) Sheet http://vasomedical.com/role/GoodwillAndOtherIntangiblesDetails1 GOODWILL AND OTHER INTANGIBLES (Details 1) Details http://vasomedical.com/role/GoodwillAndOtherIntangiblesTables 57 false false R58.htm 00000058 - Disclosure - GOODWILL AND OTHER INTANGIBLES (Details 2) Sheet http://vasomedical.com/role/GoodwillAndOtherIntangiblesDetails2 GOODWILL AND OTHER INTANGIBLES (Details 2) Details http://vasomedical.com/role/GoodwillAndOtherIntangiblesTables 58 false false R59.htm 00000059 - Disclosure - GOODWILL AND OTHER INTANGIBLES (Details Narrative) Sheet http://vasomedical.com/role/GoodwillAndOtherIntangiblesDetailsNarrative GOODWILL AND OTHER INTANGIBLES (Details Narrative) Details http://vasomedical.com/role/GoodwillAndOtherIntangiblesTables 59 false false R60.htm 00000060 - Disclosure - OTHER ASSETS (Details) Sheet http://vasomedical.com/role/OtherAssetsDetails OTHER ASSETS (Details) Details http://vasomedical.com/role/OtherAssetsTables 60 false false R61.htm 00000061 - Disclosure - DEFERRED REVENUE (Details) Sheet http://vasomedical.com/role/DeferredRevenueDetails DEFERRED REVENUE (Details) Details http://vasomedical.com/role/DeferredRevenueTables 61 false false R62.htm 00000062 - Disclosure - ACCRUED EXPENSES AND OTHER LIABILITIES (Details) Sheet http://vasomedical.com/role/AccruedExpensesAndOtherLiabilitiesDetails ACCRUED EXPENSES AND OTHER LIABILITIES (Details) Details http://vasomedical.com/role/AccruedExpensesAndOtherLiabilitiesTables 62 false false R63.htm 00000063 - Disclosure - DEBT AND LEASE OBLIGATIONS (Details) Sheet http://vasomedical.com/role/DebtAndLeaseObligationsDetails DEBT AND LEASE OBLIGATIONS (Details) Details 63 false false R64.htm 00000064 - Disclosure - DEBT AND LEASE OBLIGATIONS (Details 1) Sheet http://vasomedical.com/role/DebtAndLeaseObligationsDetails1 DEBT AND LEASE OBLIGATIONS (Details 1) Details 64 false false R65.htm 00000065 - Disclosure - DEBT AND LEASE OBLIGATIONS (Details 2) Sheet http://vasomedical.com/role/DebtAndLeaseObligationsDetails2 DEBT AND LEASE OBLIGATIONS (Details 2) Details 65 false false R66.htm 00000066 - Disclosure - OPTION PLANS (Details) Sheet http://vasomedical.com/role/OptionPlansDetails OPTION PLANS (Details) Details http://vasomedical.com/role/OptionPlansTables 66 false false R67.htm 00000067 - Disclosure - INCOME TAXES (Details) Sheet http://vasomedical.com/role/IncomeTaxesDetails INCOME TAXES (Details) Details http://vasomedical.com/role/IncomeTaxesTables 67 false false R68.htm 00000068 - Disclosure - INCOME TAXES (Details 1) Sheet http://vasomedical.com/role/IncomeTaxesDetails1 INCOME TAXES (Details 1) Details http://vasomedical.com/role/IncomeTaxesTables 68 false false R69.htm 00000069 - Disclosure - INCOME TAXES (Details 2) Sheet http://vasomedical.com/role/IncomeTaxesDetails2 INCOME TAXES (Details 2) Details http://vasomedical.com/role/IncomeTaxesTables 69 false false R70.htm 00000070 - Disclosure - INCOME TAXES (Details 3) Sheet http://vasomedical.com/role/IncomeTaxesDetails3 INCOME TAXES (Details 3) Details http://vasomedical.com/role/IncomeTaxesTables 70 false false R71.htm 00000071 - Disclosure - INCOME TAXES (Details 4) Sheet http://vasomedical.com/role/IncomeTaxesDetails4 INCOME TAXES (Details 4) Details http://vasomedical.com/role/IncomeTaxesTables 71 false false R72.htm 00000072 - Disclosure - INCOME TAXES (Details Narrative) Sheet http://vasomedical.com/role/IncomeTaxesDetailsNarrative INCOME TAXES (Details Narrative) Details http://vasomedical.com/role/IncomeTaxesTables 72 false false R73.htm 00000073 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details) Sheet http://vasomedical.com/role/CommitmentsAndContingenciesDetails COMMITMENTS AND CONTINGENCIES (Details) Details http://vasomedical.com/role/CommitmentsAndContingenciesTables 73 false false R74.htm 00000074 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details Narrative) Sheet http://vasomedical.com/role/CommitmentsAndContingenciesDetailsNarrative COMMITMENTS AND CONTINGENCIES (Details Narrative) Details http://vasomedical.com/role/CommitmentsAndContingenciesTables 74 false false R75.htm 00000075 - Disclosure - 401(k) PLANS (Details) Sheet http://vasomedical.com/role/KPlansDetails 401(k) PLANS (Details) Details http://vasomedical.com/role/KPlans 75 false false All Reports Book All Reports vaso-20181231.xml vaso-20181231.xsd vaso-20181231_cal.xml vaso-20181231_def.xml vaso-20181231_lab.xml vaso-20181231_pre.xml http://xbrl.sec.gov/country/2017-01-31 http://xbrl.sec.gov/dei/2018-01-31 http://fasb.org/srt/2018-01-31 http://fasb.org/us-gaap/2018-01-31 true true ZIP 93 0001654954-19-004395-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001654954-19-004395-xbrl.zip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�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