Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 592

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 2
Chunk 592
---
 non-performance risk. Inputs to the derivative pricing model are generally observable and do not contain a high level of subjectivity, and accordingly, the Company’s derivative is classified within Level 2 of the fair value hierarchy. While the Company believes its estimate results in a reasonable reflection of the fair value of the instrument, the estimated value may not be representative of actual value that could have been realized or that will be realized in the near future. 

 F-21Table of Contents

In accounting for the interest rate swap, the Company has determined it does not qualify for hedge accounting. The fair value of the swap agreement as of December 31, 2024 and 2023 was an asset of $60,000 and liability of $21,000, respectively and is included in Other long-term assets and liabilities, in the Consolidated balance sheets. The fair value of the interest rate swap agreement excludes accrued interest and takes into consideration current interest rates and current likelihood of the swap counterparty’s compliance with its contractual obligations. As a result of the interest rate swap, the Company recognized a net unrealized gain of $81,000 during the year ended December 31, 2024, and a net unrealized loss of $21,000 during the year ended December 31, 2023, which are included in Other expense in the Consolidated statements of operations.

Note 8: Equity Dividends The Company did not pay any dividends during the years ended December 31, 2024 and 2023. Preferred stock and common stock During the year ended December 31, 2024, there was 4,532 shares of common stock issued to a consultant in exchange for services. There were no issuances of preferred stock or common stock during the years ended December 31, 2024 and 2023 other than stock awarded to employees and the Board of Directors. 

Note 9: Stock Options and Restricted Stock Units On June 7, 2023, the shareholders of the Company approved the 2023 Equity Incentive Plan (the “2023 Plan”).  Under the terms of the 2023 Plan, the Company is authorized to issue incentive awards for common stock up to 300,000 shares to employees and other personnel. The awards may be in the form of incentive stock options, nonqualified stock options, restricted stock, restricted stock units and performance awards. The 2023 Plan is effective through April 1, 2033. As of December 31