St. Bernard Software, Inc.
Condensed Consolidated Balance Sheets
June 30, 2010
December 31, 2009
(Unaudited)
Assets
Current Assets
Cash and cash equivalents
$ 2,621,000 $ 2,454,000
Accounts receivable - net of allowance for doubtful accounts of $12,000 and $13,000 at June 30, 2010 and December 31, 2009, respectively
3,461,000 2,534,000
Inventories - net
471,000 242,000
Prepaid expenses and other current assets
297,000 335,000
Total current assets
6,850,000 5,565,000
Fixed Assets - Net
444,000 564,000
Other Assets
406,000 148,000
Goodwill
7,568,000 7,568,000
Total Assets
$ 15,268,000 $ 13,845,000
Liabilities and Stockholders’ Deficit
Current Liabilities
Short-term borrowings
$ 2,550,000 $ 2,250,000
Accounts payable
1,170,000 817,000
Accrued compensation
1,012,000 834,000
Accrued expenses and other current liabilities
604,000 597,000
Warranty liability
191,000 192,000
Capitalized lease obligations
- 22,000
Deferred revenue
10,111,000 10,209,000
Total current liabilities
15,638,000 14,921,000
Deferred Revenue
8,889,000 7,708,000
Total liabilities
24,527,000 22,629,000
Stockholders’ Deficit
Preferred stock, $0.01 par value; 5,000,000 shares authorized; no shares issued and outstanding
- -
Common stock, $0.01 par value; 50,000,000 shares authorized; 13,432,605 and 13,319,991 shares issued and outstanding at June 30, 2010 and December 31, 2009, respectively
133,000 132,000
Additional paid-in capital
40,879,000 40,774,000
Accumulated deficit
(50,271,000 ) (49,690,000 )
Total stockholders’ deficit
(9,259,000 ) (8,784,000 )
Total Liabilities and Stockholders’ Deficit
$ 15,268,000 $ 13,845,000
