Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.7.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash $ 816 $ 1,790
Accounts receivable, net of allowances of $906 and $914, respectively 11,647 13,952
Inventory, net of reserves of $227 and $84, respectively 65 165
Loans receivable, net of reserves of $891 and $891, respectively 422 382
Other current assets 2,361 2,100
Total current assets 15,311 18,389
Property and equipment, net 462 533
Goodwill 17,068 23,368
Customer lists, net 8,227 8,589
Tradenames 2,491 3,178
Other intangible assets, net 66 256
Other assets 186 256
Total assets 43,811 54,569
Current Liabilities:    
Accounts payable 10,008 10,907
Accrued expenses 11,581 10,721
Deferred revenue 3,510 3,058
Income taxes payable 64 53
Bank debt, current portion 133 121
Notes payable, related parties 15,613 9,531
Contingent consideration 515 515
Derivative financial instruments 2,942 1,749
Term loans, current portion, net of debt discount 18,931 21,147
Total current liabilities 63,297 57,802
Long-term Liabilities:    
Notes payable, related parties, net of current portion 8,632
Deferred income taxes 754 1,002
Term loans, net of current portion, net of debt discount 2,209 1,860
Derivative financial instruments 2,195 1,316
Total long-term liabilities 5,158 12,810
Total Liabilities 68,455 70,612
Commitments and Contingencies
Stockholders' Deficit:    
Common stock; $0.0001 par value; 500,000,000 shares authorized; 488,929,872 and 114,067,218 issued and 487,375,998 and 112,840,013 outstanding as of March 31, 2017 and December 31, 2016, respectively 48 11
Common stock warrants, no par 2 1,727
Treasury stock, at cost - 1,553,874 and 1,227,205 shares at March 31, 2017 and December 31, 2016, respectively (1) (1)
Additional paid-in capital 138,184 130,860
Accumulated deficit (163,203) (148,983)
Total InterCloud Systems, Inc. stockholders' deficit (24,970) (16,386)
Non-controlling interest 326 343
Total stockholders' deficit (24,644) (16,043)
Total liabilities and stockholders' deficit $ 43,811 $ 54,569