Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.6.0.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Current Assets:    
Cash $ 1,790 $ 7,944
Accounts receivable, net of allowances of $914 and $1,290, respectively 13,952 16,616
Inventory, net of reserves of $84 and $0, respectively 165 1,181
Loans receivable, net of reserves of $891 and $0, respectively 382 400
Other current assets 2,100 2,321
Current assets of discontinued operations 91
Total current assets 18,389 28,553
Property and equipment, net 533 659
Goodwill by Segment 23,368 23,658
Customer lists, net 8,589 9,744
Tradenames 3,178 3,178
Other intangible assets, net 256 3,791
Investment 800
Other assets 256 96
Non-current assets of discontinued operations 21,752
Total assets 54,569 92,231
Current Liabilities:    
Accounts payable 10,907 7,932
Accrued expenses 10,721 10,787
Deferred revenue 3,058 5,145
Income taxes payable 53 653
Bank debt, current portion 121 131
Notes payable, related parties 9,531 11,103
Contingent consideration 515
Derivative financial instruments 1,749 408
Term loans, current portion, net of debt discount 21,147 3,787
Current liabilities of discontinued operations 5
Total current liabilities 57,802 39,951
Long-term Liabilities:    
Notes payable, related parties, net of current portion 8,632 8,183
Deferred income taxes 1,002 909
Term loans, net of current portion, net of debt discount 1,860 30,258
Derivative financial instruments 1,316 17,130
Total long-term liabilities 12,810 56,480
Total Liabilities 70,612 96,431
Commitments and Contingencies (Note 15)
Stockholders' Deficit:    
Common stock; $0.0001 par value; 500,000,000 shares authorized; 114,067,218 and 29,461,377 issued and 112,840,013 and 29,032,622 outstanding as of December 31, 2016 and2015, respectively 11 3
Common stock warrants, no par 1,727 259
Treasury stock, at cost - 1,227,205 and 428,755 shares at December 31, 2016 and 2015, respectively (1)
Additional paid-in capital 130,860 117,706
Accumulated deficit (148,983) (122,500)
Total InterCloud Systems, Inc. stockholders' deficit (16,386) (4,532)
Non-controlling interest 343 332
Total stockholders' deficit (16,043) (4,200)
Total liabilities and stockholders' deficit $ 54,569 $ 92,231