Company: ACCS
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001683168-25-008214
Chunk: 10

Company: ACCESS Newswire Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 10
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of the entity.

Performance obligations of
contracts included in discontinued operations include providing subscriptions to certain modules of our compliance software or other stand-ready
obligations to deliver services and annual report printing and distribution.  Additionally, services are provided on a per project
basis. Set up fees for disclosure services are considered a separate performance obligation and are satisfied upfront. Set up fees for
the transfer agent module and investor relations content management module are immaterial. For service contracts that include stand ready
obligations, revenue is recognized evenly over the contract period. For all other services delivered on a per project or event basis,
the revenue is recognized at the completion of the event. The Company believes recognizing revenue for subscriptions and stand ready obligations
using a time-based measure of progress, best reflects the Company’s performance in satisfying the obligations.

As
of the Closing Date, there was $1,227,000 of gross accounts receivable that did not transfer to the Buyer as a result of the Purchase
Agreement. The following table sets forth the assets and liabilities included in discontinued operations as of September 30, 2025 and
December 31, 2024 as presented in the Consolidated Balance Sheets (in thousands):

    Schedule of discontinued operations of assets and liabilities 

    September 30, 2025  
    December 31, 2024 
  
    Accounts Receivable (net of provision for credit losses of $1,016 and $559 as of September 30, 2025 and December 31, 2024 
    $–  
    $1,321 
  
    Other current assets 
     –  
     17 
  
    Total current assets 
     –  
     1,338 
  
    Goodwill 
     –  
     2,885 
  
    Intangible Assets (net of accumulated amortization $5,265 as of December 31, 2024) 
     –  
     637 
  
    Other non-current assets 
     –  
     55 
  
    Total assets 
    $–  
    $4,915 

    Accounts Payable 
    $–  
    $107 
  
    Accrued Expenses 
     –  
     168 
  
    Deferred Revenue 
     –  
     618 
  
    Total liabilities 
    $–  
    $893 

     14 

The
following table sets forth the