Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.19.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents (Amounts related to variable interest entity of $109.373 and $683,043 as of September 30, 2019 and December 31, 2018, respectively) $ 4,861,607 $ 1,441,607
Accounts receivable, net 550,885 816,698
Incremental direct costs 31,274 20,797
Prepaid expenses and other current assets 360,069 350,906
Current assets from discontinued operations 1,151 126,270
Total current assets 5,804,986 2,756,278
Property and equipment, net 47,946 83,608
Capitalized technology, net 121,298 194,833
Goodwill 1,823,320 339,451
Intangible assets, net 471,437 1,020,942
Right-of-use assets 179,589
Merchant reserve 760,849 760,849
Security deposits 87,271 82,139
Total assets 9,296,696 5,238,100
Current Liabilities:    
Accounts payable 832,974 1,843,688
Accrued expenses 1,019,459 989,626
Deferred revenue 1,550,405 2,460,436
Customer deposits 79
Short-term loan 279,916
Note Payable - related party 500,000
Lease liability, current portion 189,547
Stocks to be issued liability 1,153,988
Other current liabilities 421,895
Current liabilities from discontinued operations 207,905 346,528
Total current liabilities 5,656,168 6,140,278
Deferred tax liability 82,081 194,786
Deferred rent 13,742
Other liabilities 82
Lease liability, non-current portion 536
Total liabilities 5,738,785 6,348,888
Commitments and contingencies
Stockholders' Equity    
Common stock, $0.01 par value; 45,000,000 shares authorized; 8,920,573 shares and 4,856,213 shares issued as of September 30, 2019 and December 31, 2018, respectively; and 8,919,525 shares and 4,855,165 shares outstanding as of September 30, 2019 and December 31, 2018, respectively 89,206 48,562
Additional paid in capital 91,082,200 83,728,903
Accumulated other comprehensive loss (38,246) (24,340)
Accumulated deficit (87,534,409) (84,826,796)
Treasury stock, at cost; 1,048 shares at September 30, 2019 and December 31, 2018 (37,117) (37,117)
Total stockholders' equity - Professional Diversity Network, Inc. 3,561,634 (1,110,788)
Non-controlling interest (3,723)
Total stockholders' equity 3,557,911 (1,110,788)
Total liabilities and stockholders' equity $ 9,296,696 $ 5,238,100