2021 Q4 Form 10-Q Financial Statement

#000165495421011856 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021 Q2
Revenue $8.996M $8.810M $5.779M
YoY Change 108.1% 112.65% 42.55%
Cost Of Revenue $1.841M $1.210M $1.347M
YoY Change 41.62% 27.91% 48.35%
Gross Profit $7.155M $7.600M $4.432M
YoY Change 138.5% 137.72% 40.88%
Gross Profit Margin 79.54% 86.27% 76.69%
Selling, General & Admin $6.014M $2.285M $4.305M
YoY Change 140.56% -25.11% 105.0%
% of Gross Profit 84.05% 30.07% 97.13%
Research & Development $300.0K $358.0K $388.0K
YoY Change -14.04% 9.82% 59.02%
% of Gross Profit 4.19% 4.71% 8.75%
Depreciation & Amortization $695.0K $569.0K $262.0K
YoY Change 1058.33% 848.33% 555.0%
% of Gross Profit 9.71% 7.49% 5.91%
Operating Expenses $9.793M $8.757M $7.023M
YoY Change 133.22% 119.58% 99.35%
Operating Profit -$797.0K $53.00K $1.244M
YoY Change -742.74% -65.81% 134.27%
Interest Expense -$20.00K $24.00K $21.00K
YoY Change 4.35% -4.55%
% of Operating Profit 45.28% 1.69%
Other Income/Expense, Net -$23.00K -$41.00K -$19.00K
YoY Change -102.33% 95.24% -5.0%
Pretax Income $820.0K $12.00K $1.263M
YoY Change -26.19% -91.04% 147.16%
Income Tax $218.0K $137.0K $260.0K
% Of Pretax Income 26.59% 1141.67% 20.59%
Net Earnings -$602.0K -$125.0K -$1.003M
YoY Change -108.41% -195.42% -297.44%
Net Earnings / Revenue -6.69% -1.42% -17.36%
Basic Earnings Per Share -$0.03 -$0.01 $0.05
Diluted Earnings Per Share -$0.03 $0.01 $0.05
COMMON SHARES
Basic Shares Outstanding 21.69M shares 21.60M shares 19.44M shares
Diluted Shares Outstanding 21.60M shares 19.44M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.468M $7.701M $7.876M
YoY Change -57.57% -49.99% 57.52%
Cash & Equivalents $7.468M $7.701M $7.876M
Short-Term Investments
Other Short-Term Assets $1.080M $1.169M $319.0K
YoY Change 46.13% -60.13%
Inventory $231.0K $479.0K $311.0K
Prepaid Expenses $358.0K $650.0K $834.0K
Receivables $2.177M $1.280M $1.406M
Other Receivables $343.0K $335.0K $327.0K
Total Short-Term Assets $11.56M $11.17M $12.11M
YoY Change -41.56% -35.79% 70.56%
LONG-TERM ASSETS
Property, Plant & Equipment $2.989M $3.059M $3.072M
YoY Change 9.33% 9.25% 18.15%
Goodwill $34.98M $26.73M $26.73M
YoY Change 12760.66%
Intangibles $22.16M $23.24M $23.74M
YoY Change 8694.05%
Long-Term Investments
YoY Change
Other Assets $313.0K $287.0K $290.0K
YoY Change 100.64% 43.5% 45.0%
Total Long-Term Assets $65.59M $66.14M $66.17M
YoY Change 500.44% 1249.86% 1370.47%
TOTAL ASSETS
Total Short-Term Assets $11.56M $11.17M $12.11M
Total Long-Term Assets $65.59M $66.14M $66.17M
Total Assets $77.15M $77.32M $78.28M
YoY Change 151.27% 246.71% 574.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $476.0K $624.0K $651.0K
YoY Change 750.0% -22.0% 30.2%
Accrued Expenses $4.904M $4.351M $5.455M
YoY Change 201.23% 335.1% 445.5%
Deferred Revenue $2.207M $1.475M $1.475M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.983M $203.0K $220.0K
YoY Change 1883.0% -81.55% -80.0%
Total Short-Term Liabilities $10.57M $8.245M $9.764M
YoY Change 312.49% 122.84% 187.18%
LONG-TERM LIABILITIES
Long-Term Debt $193.0K $2.055M $2.106M
YoY Change -89.84% -10.65% 5.3%
Other Long-Term Liabilities $454.0K $1.322M $1.199M
YoY Change -9.2% 1222.0% 139.8%
Total Long-Term Liabilities $647.0K $3.377M $3.305M
YoY Change -73.04% 40.71% 32.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.57M $8.245M $9.764M
Total Long-Term Liabilities $647.0K $3.377M $3.305M
Total Liabilities $11.22M $11.62M $13.07M
YoY Change 127.06% 90.52% 121.51%
SHAREHOLDERS EQUITY
Retained Earnings -$52.53M -$51.93M -$51.81M
YoY Change 4.88%
Common Stock $22.00K $22.00K $22.00K
YoY Change 22.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $65.93M $65.69M $65.21M
YoY Change
Total Liabilities & Shareholders Equity $77.15M $77.32M $78.28M
YoY Change 151.27% 246.71% 574.84%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income -$602.0K -$125.0K -$1.003M
YoY Change -108.41% -195.42% -297.44%
Depreciation, Depletion And Amortization $695.0K $569.0K $262.0K
YoY Change 1058.33% 848.33% 555.0%
Cash From Operating Activities -$533.0K -$249.0K $26.00K
YoY Change -331.74% -175.45% -93.16%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K $10.46M -$10.52M
YoY Change -4852.27% 6085.88%
Acquisitions
YoY Change
Other Investing Activities $739.0K -$10.51M
YoY Change
Cash From Investing Activities $729.0K -$50.00K -$8.356M
YoY Change -77.27% 4815.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -431.0K 115.0K -4.000K
YoY Change -121.55% -98.88% -100.3%
NET CHANGE
Cash From Operating Activities -533.0K -249.0K 26.00K
Cash From Investing Activities 729.0K -50.00K -8.356M
Cash From Financing Activities -431.0K 115.0K -4.000K
Net Change In Cash -235.0K -184.0K -8.334M
YoY Change -110.54% -101.78% -634.23%
FREE CASH FLOW
Cash From Operating Activities -$533.0K -$249.0K $26.00K
Capital Expenditures -$10.00K $10.46M -$10.52M
Free Cash Flow -$523.0K -$10.70M $10.54M
YoY Change -327.39% -2046.18% 1816.73%

Facts In Submission

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OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
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CY2020Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
131000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
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CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2021Q3 us-gaap Net Income Loss
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CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
131000 USD
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
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779000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
9000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
10000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
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CY2020Q4 us-gaap Stockholders Equity
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CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
282000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
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CY2021Q1 crex Issuance Of Common Stock For Exercise Of Stock Options Amount
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1146000 USD
CY2021Q1 crex Taxes Paid On The Net Settlement Of Stock Options
TaxesPaidOnTheNetSettlementOfStockOptions
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CY2021Q1 crex Issuance Of Common Stock In Connection With A Business Acquisition Amount
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346000 USD
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CY2021Q1 us-gaap Stockholders Equity
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CY2021Q2 us-gaap Share Based Compensation
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CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
0 USD
CY2021Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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1000 USD
CY2021Q2 crex Issuance Of Common Stock For Exercise Of Stock Options Amount
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31000 USD
CY2021Q2 crex Taxes Paid On The Net Settlement Of Stock Options
TaxesPaidOnTheNetSettlementOfStockOptions
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CY2021Q2 crex Issuance Of Common Stock In Connection With A Business Acquisition Amount
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39062000 USD
CY2021Q2 us-gaap Net Income Loss
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CY2021Q2 us-gaap Stockholders Equity
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CY2021Q3 us-gaap Share Based Compensation
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415000 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
0 USD
CY2021Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
9000 USD
CY2021Q3 crex Issuance Of Common Stock For Exercise Of Stock Options Amount
IssuanceOfCommonStockForExerciseOfStockOptionsAmount
188000 USD
CY2021Q3 crex Taxes Paid On The Net Settlement Of Stock Options
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-5000 USD
CY2021Q3 us-gaap Net Income Loss
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CY2021Q3 us-gaap Stockholders Equity
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CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
4387000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
105000 USD
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
0 USD
CY2020Q1 crex Issuance Of Common Stock For Exercise Of Stock Options Amount
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84000 USD
CY2020Q1 us-gaap Net Income Loss
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140000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
4716000 USD
CY2020Q2 us-gaap Share Based Compensation
ShareBasedCompensation
136000 USD
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
0 USD
CY2020Q2 crex Issuance Of Common Stock For Exercise Of Stock Options Amount
IssuanceOfCommonStockForExerciseOfStockOptionsAmount
414000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
508000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
5774000 USD
CY2020Q3 us-gaap Share Based Compensation
ShareBasedCompensation
136000 USD
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
0 USD
CY2020Q3 crex Issuance Of Common Stock For Exercise Of Stock Options Amount
IssuanceOfCommonStockForExerciseOfStockOptionsAmount
1510000 USD
CY2020Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
8633000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
131000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
16184000 USD
us-gaap Profit Loss
ProfitLoss
-1843000 USD
us-gaap Profit Loss
ProfitLoss
779000 USD
crex Non Cash Operating Lease Amortization
NonCashOperatingLeaseAmortization
0 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
119000 USD
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
-245000 USD
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
-100000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-384000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-191000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-263000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
4000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
931000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
197000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1150000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
377000 USD
crex Non Cash Operating Lease Amortization
NonCashOperatingLeaseAmortization
-4000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
199000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-248000 USD
us-gaap Increase Decrease In Commodity Contract Assets And Liabilities
IncreaseDecreaseInCommodityContractAssetsAndLiabilities
-50000 USD
us-gaap Increase Decrease In Commodity Contract Assets And Liabilities
IncreaseDecreaseInCommodityContractAssetsAndLiabilities
-72000 USD
crex Increase Decrease In Equipment Financing Receivables
IncreaseDecreaseInEquipmentFinancingReceivables
31000 USD
crex Increase Decrease In Equipment Financing Receivables
IncreaseDecreaseInEquipmentFinancingReceivables
-395000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
37000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
335000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-46000 USD
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
228000 USD
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-25000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
5000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-595000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
19000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-473000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
423000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
91000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
745000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
10505000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
176000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10596000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-921000 USD
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0 USD
us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
54000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
71000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
22000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1001000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
53000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
39000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1365000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2007000 USD
crex Taxes Paid On The Net Settlement Of Stock Options And Rsus
TaxesPaidOnTheNetSettlementOfStockOptionsAndRsus
-160000 USD
crex Taxes Paid On The Net Settlement Of Stock Options And Rsus
TaxesPaidOnTheNetSettlementOfStockOptionsAndRsus
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
8778000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1081000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11671000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
10000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
0 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-9978000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
11173000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17679000 USD
crex Adjustment To Intangible Assets And Contingent Consideration Of Customer Relationship Asset Acquisition
AdjustmentToIntangibleAssetsAndContingentConsiderationOfCustomerRelationshipAssetAcquisition
-121000 USD
us-gaap Interest Paid Net
InterestPaidNet
64000 USD
CY2021Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
6742000 USD
CY2020Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
17175000 USD
crex Adjustment To Intangible Assets And Contingent Consideration Of Customer Relationship Asset Acquisition
AdjustmentToIntangibleAssetsAndContingentConsiderationOfCustomerRelationshipAssetAcquisition
0 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4280000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7701000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15453000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
15000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
us-gaap Interest Paid Net
InterestPaidNet
54000 USD
crex Stock Issued For The Acquisition Of Centric Telecom
StockIssuedForTheAcquisitionOfCentricTelecom
346000 USD
crex Stock Issued For The Acquisition Of Centric Telecom
StockIssuedForTheAcquisitionOfCentricTelecom
0 USD
crex Contingent Consideration Related To The Acquisition Of Centric Telecom
ContingentConsiderationRelatedToTheAcquisitionOfCentricTelecom
746000 USD
crex Contingent Consideration Related To The Acquisition Of Centric Telecom
ContingentConsiderationRelatedToTheAcquisitionOfCentricTelecom
0 USD
crex Stock Issued In Connection With The Merger With Netsapiens
StockIssuedInConnectionWithTheMergerWithNetsapiens
16942000 USD
crex Stock Issued In Connection With The Merger With Netsapiens
StockIssuedInConnectionWithTheMergerWithNetsapiens
0 USD
crex Stock Options Issued In Connection With The Merger With Netsapiens
StockOptionsIssuedInConnectionWithTheMergerWithNetsapiens
22120000 USD
crex Stock Options Issued In Connection With The Merger With Netsapiens
StockOptionsIssuedInConnectionWithTheMergerWithNetsapiens
0 USD
crex Property And Equipment Financed Through Finance Leases
PropertyAndEquipmentFinancedThroughFinanceLeases
273000 USD
crex Property And Equipment Financed Through Finance Leases
PropertyAndEquipmentFinancedThroughFinanceLeases
0 USD
crex Prepaid Assets Financed Through Finance Leases
PrepaidAssetsFinancedThroughFinanceLeases
14000 USD
crex Prepaid Assets Financed Through Finance Leases
PrepaidAssetsFinancedThroughFinanceLeases
0 USD
crex Property Plant And Equipment Acquired With Note Payable
PropertyPlantAndEquipmentAcquiredWithNotePayable
0 USD
crex Property Plant And Equipment Acquired With Note Payable
PropertyPlantAndEquipmentAcquiredWithNotePayable
2000000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
9000 USD
CY2021Q1 crex Restricted Cash Wavied
RestrictedCashWavied
100000 USD
CY2021Q3 crex Restricted Cash Excess Of Federally Insured Limits
RestrictedCashExcessOfFederallyInsuredLimits
0 USD
CY2020Q4 crex Restricted Cash Excess Of Federally Insured Limits
RestrictedCashExcessOfFederallyInsuredLimits
100000 USD
CY2021Q3 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
0 USD
CY2020Q4 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
100000 USD
CY2021Q3 us-gaap Cash
Cash
7701000 USD
CY2020Q3 us-gaap Cash
Cash
15353000 USD
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
0 USD
CY2020Q3 us-gaap Restricted Cash
RestrictedCash
100000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7701000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15453000 USD
CY2021Q3 crex Capitalized Contract Cost
CapitalizedContractCost
1215000 USD
CY2020Q4 crex Capitalized Contract Cost
CapitalizedContractCost
123000 USD
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
444000 USD
CY2020 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
368000 USD
crex Business Acquisitionpolicytextblock
BusinessAcquisitionpolicytextblock
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:45px"><strong>Business Acquisitions - </strong>We account for business combinations using the acquisition method of accounting. The acquisition method of accounting requires that the purchase price, including the fair value of contingent consideration, of the acquisition be allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions as part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, the Company’s estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill to the extent the Company identifies adjustments to the preliminary purchase price allocation. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations. We include the results of all acquisitions in our consolidated financial statements from the date of acquisition. Acquisition related transaction costs, such as banking, legal, accounting and other costs incurred in connection with an acquisition, are expensed as incurred in general and administrative expenses.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:45px"><strong>Use of Estimates – </strong>In preparing the consolidated financial statements, management makes assumptions, estimates and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of net sales and expenses during the reported periods. Specific estimates and judgments include valuation of goodwill and intangible assets in connection with business acquisitions and asset acquisitions, allowances for doubtful accounts, uncertainties related to certain income tax benefits, valuation of deferred income tax assets, valuations of share-based payments, annual incentive bonuses accrual, recoverability of long-lived assets and product warranty liabilities. Management’s estimates are based on historical experience and on our expectations that are believed to be reasonable. The combination of these factors forms the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from our current estimates and those differences may be material.</p>
us-gaap Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:45px"><strong>Service, Software Solutions and Product Revenue Recognition – </strong>Revenue is recognized upon transfer of control of promised services, software solutions or products to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services and excludes any amounts collected on behalf of third parties. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. We recognize revenue for delivered elements only when we determine there are no uncertainties regarding customer acceptance. Changes in the allocation of the sales price between delivered and undelivered elements can impact the timing of revenue recognized but does not change the total revenue recognized on any agreement. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. For more detailed information about revenue, see Note 2. </p>
crex Cost Of Software Solutions Revenue Policytextblock
CostOfSoftwareSolutionsRevenuePolicytextblock
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:45px"><strong>Cost of Software Solutions Revenue – </strong>Cost of software solutions revenue consists primarily of royalties and other fees paid to third parties whose technology or products are sold as part of the Company’s products, direct costs to manufacture and distribute products, direct costs to provide product support and professional support services, direct costs associated with delivery of the Company’s software offerings, and amortization expense related to developed technology intangible assets.</p>
crex Public Offeringspolicytextblock
PublicOfferingspolicytextblock
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:45px"><strong>Public Offering</strong> – On September 28, 2020, the Company completed a public offering in which it issued and sold 1,750,000 shares of common stock at a price to the public of $5.50 per share. The shares sold and issued in the public offering resulted in an aggregate gross offering price of $9,625,000. The Company received net proceeds of $8,623,000 after deducting underwriting discounts and commissions of $674,000 and offering expenses of $328,000.</p><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:45px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:45px">On October 21, 2020, the underwriters of the Company’s public offering exercised their option to purchase additional shares of the Company’s common stock to cover sales by the underwriters of a greater number of shares than the total set forth in the filed prospectus for the public offering. The underwriters purchased an additional 420,000 shares of common stock from the Company. The gross proceeds to the Company of the issuance were $2,310,000, and the Company received net proceeds of $2,148,000 after deducting underwriting discounts and commissions.</p>
CY2020Q3 crex Shares Of Common Stock Sold
SharesOfCommonStockSold
1750000 shares
CY2020Q3 us-gaap Share Price
SharePrice
5.50
CY2020Q3 crex Offering Price
OfferingPrice
9625000 USD
CY2020Q3 crex Net Proceeds
NetProceeds
8623000 USD
CY2020Q3 crex Underwriting Discounts Comminsssions
UnderwritingDiscountsComminsssions
674000 USD
CY2020Q3 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
328000 USD
CY2020Q4 crex Additional Shares Of Common Stock
AdditionalSharesOfCommonStock
420000 shares
CY2020Q4 crex Additional Shares Of Common Stock Amount
AdditionalSharesOfCommonStockAmount
2310000 USD
CY2020Q4 crex Underwriting Discounts Comminsssions
UnderwritingDiscountsComminsssions
2148000 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
7487000 USD
CY2020Q3 us-gaap Revenues
Revenues
4143000 USD
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.10 pure
CY2020 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.11 pure
CY2021Q3 crex Desktop Services
DesktopServices
701000 USD
CY2021Q3 crex Interest Received On Equipment Financing
InterestReceivedOnEquipmentFinancing
63000 USD
CY2021Q3 crex Telecommunications Services
TelecommunicationsServices
3718000 USD
CY2021Q3 crex Fees Commissions And Other Recognized Over Time
FeesCommissionsAndOtherRecognizedOverTime
419000 USD
CY2021Q3 crex One Time Fees Commissions And Other
OneTimeFeesCommissionsAndOther
125000 USD
CY2021Q3 crex Software Licenses
SoftwareLicenses
0 USD
CY2021Q3 crex Subscription Maintenance And Support
SubscriptionMaintenanceAndSupport
0 USD
CY2021Q3 us-gaap Professional Fees
ProfessionalFees
0 USD
CY2021Q3 crex Service Lines
ServiceLines
5026000 USD
CY2021Q3 crex Products Services And Fees Recognized At A Point In Time
ProductsServicesAndFeesRecognizedAtAPointInTime
775000 USD
CY2021Q3 crex Products Services And Fees Transferred Over Time
ProductsServicesAndFeesTransferredOverTime
4251000 USD
CY2020Q3 crex Desktop Services
DesktopServices
489000 USD
CY2020Q3 crex Interest Received On Equipment Financing
InterestReceivedOnEquipmentFinancing
59000 USD
CY2020Q3 crex Telecommunications Services
TelecommunicationsServices
3182000 USD
CY2020Q3 crex Fees Commissions And Other Recognized Over Time
FeesCommissionsAndOtherRecognizedOverTime
373000 USD
crex Desktop Services
DesktopServices
1509000 USD
crex Interest Received On Equipment Financing
InterestReceivedOnEquipmentFinancing
198000 USD
crex Telecommunications Services
TelecommunicationsServices
10995000 USD
crex Fees Commissions And Other Recognized Over Time
FeesCommissionsAndOtherRecognizedOverTime
1252000 USD
crex One Time Fees Commissions And Other
OneTimeFeesCommissionsAndOther
346000 USD
crex Software Licenses
SoftwareLicenses
0 USD
CY2020Q3 crex One Time Fees Commissions And Other
OneTimeFeesCommissionsAndOther
40000 USD
CY2020Q3 crex Products Services And Fees Recognized At A Point In Time
ProductsServicesAndFeesRecognizedAtAPointInTime
529000 USD
CY2020Q3 crex Products Services And Fees Transferred Over Time
ProductsServicesAndFeesTransferredOverTime
3614000 USD
crex Subscription Maintenance And Support
SubscriptionMaintenanceAndSupport
0 USD
us-gaap Professional Fees
ProfessionalFees
0 USD
crex Service Lines
ServiceLines
14300000 USD
crex Products Services And Fees Recognized At A Point In Time
ProductsServicesAndFeesRecognizedAtAPointInTime
1804000 USD
crex Products Services And Fees Transferred Over Time
ProductsServicesAndFeesTransferredOverTime
12496000 USD
crex Desktop Services
DesktopServices
1317000 USD
crex Interest Received On Equipment Financing
InterestReceivedOnEquipmentFinancing
156000 USD
crex Telecommunications Services
TelecommunicationsServices
9321000 USD
crex Service Lines
ServiceLines
12064000 USD
crex Products Services And Fees Recognized At A Point In Time
ProductsServicesAndFeesRecognizedAtAPointInTime
1440000 USD
crex Products Services And Fees Transferred Over Time
ProductsServicesAndFeesTransferredOverTime
10624000 USD
CY2021Q3 us-gaap Other Receivables
OtherReceivables
1307000 USD
CY2020Q4 us-gaap Other Receivables
OtherReceivables
538000 USD
CY2021Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
209000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
159000 USD
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2884000 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1228000 USD
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
30481000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-125000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
131000 USD
us-gaap Net Income Loss
NetIncomeLoss
-1843000 USD
us-gaap Net Income Loss
NetIncomeLoss
779000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
21596415 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
15244804 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
19757658 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
15058192 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2004231 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1735704 shares
CY2021Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21596415 shares
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
17249035 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
19757658 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16793896 shares
CY2021Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.01
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.01
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.09
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.05
CY2021Q3 us-gaap Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
-0.01
CY2020Q3 us-gaap Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
0.01
us-gaap Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
-0.09
us-gaap Diluted Earnings Per Share Pro Forma
DilutedEarningsPerShareProForma
0.05
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
970631 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
840623 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
91845 shares
CY2021Q3 crex Aggregate Purchase Price
AggregatePurchasePrice
49100000 USD
crex Consideration Amount
ConsiderationAmount
16900000 USD
us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
4482328 shares
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
22100000 USD
CY2021Q3 crex Total Purchase Price
TotalPurchasePrice
49062000 USD
CY2021Q3 crex Cash Un
CashUn
1658000 USD
CY2021Q3 crex Trade Receivables
TradeReceivables
846000 USD
CY2021Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
57000 USD
CY2021Q3 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
319000 USD
CY2021Q3 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
62000 USD
CY2021Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
551000 USD
CY2021Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2829000 USD
CY2021Q3 crex Other Long Term Assets
OtherLongTermAssets
84000 USD
CY2021Q3 us-gaap Finite Lived Trade Names Gross
FiniteLivedTradeNamesGross
5047000 USD
CY2021Q3 crex Intangible Assets Customer Relatonships
IntangibleAssetsCustomerRelatonships
16473000 USD
CY2021Q3 crex Total Identifiable Assets
TotalIdentifiableAssets
27926000 USD
CY2021Q3 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
438000 USD
CY2021Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
2412000 USD
CY2021Q3 crex Finance Leases Current Portion
FinanceLeasesCurrentPortion
-17000 USD
CY2021Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1475000 USD
CY2021Q3 crex Operating Lease Liabilities Current Portion
OperatingLeaseLiabilitiesCurrentPortion
-379000 USD
CY2021Q3 crex Contract Liabilities Net Of Current Portion
ContractLiabilitiesNetOfCurrentPortion
-629000 USD
CY2021Q3 crex Finance Leases Net Of Current Portion
FinanceLeasesNetOfCurrentPortion
-29000 USD
CY2021Q3 crex Operating Lease Liabilities Net Of Current Portion
OperatingLeaseLiabilitiesNetOfCurrentPortion
-219000 USD
CY2021Q3 crex Total Liabilities Assumed
TotalLiabilitiesAssumed
-5598000 USD
CY2021Q3 us-gaap Goodwill
Goodwill
26734000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
26700000 USD
crex Pro Forma Informationtabletextblock
ProFormaInformationtabletextblock
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="6" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>For the Nine Months Ended September 30, (Unaudited)</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td style="vertical-align:bottom;"><p style="font-size:10pt;font-family:times new roman;margin:0px">(In thousands)</p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2021</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>2020</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Revenues</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">24,123</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">20,867</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Net income/(loss)</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(12,671</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">487</td><td style="width:1%;white-space: nowrap;"/></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Earnings per share</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(0.64</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">0.03</td><td style="width:1%;white-space: nowrap;"/></tr></tbody></table>
crex Revenue
Revenue
24123000 USD
crex Revenue
Revenue
20867000 USD
crex Net Income Loss Operations
NetIncomeLossOperations
-12671000 USD
crex Net Income Loss Operations
NetIncomeLossOperations
-487000 USD
crex Earning Per Share Attributiable
EarningPerShareAttributiable
-0.64
crex Earning Per Share Attributiable
EarningPerShareAttributiable
-0.03
CY2021Q1 us-gaap Business Acquisition Description Of Acquired Entity
BusinessAcquisitionDescriptionOfAcquiredEntity
the Company acquired 100% of the issued and outstanding shares of Centric Telecom, Inc., a provider of telecommunications products, services, and solutions in Northern Virginia. The aggregate purchase price of $3,255,000 consisted of $2,163,000 of cash paid at closing, 46,662 shares of our common stock with an estimated fair value of $346,000 issued at closing, and $746,000 of estimated contingent consideration to be paid
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
0 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
50000000 USD
CY2021Q3 crex Prepaid Software Services
PrepaidSoftwareServices
281000 USD
CY2020Q4 crex Prepaid Software Services
PrepaidSoftwareServices
20000 USD
CY2021Q3 crex Prepaid Insurance Premiums
PrepaidInsurancePremiums
78000 USD
CY2020Q4 crex Prepaid Insurance Premiums
PrepaidInsurancePremiums
71000 USD
CY2021Q3 crex Prepaid Nassdaq Listing Fee
PrepaidNassdaqListingFee
15000 USD
CY2020Q4 crex Prepaid Nassdaq Listing Fee
PrepaidNassdaqListingFee
0 USD
CY2021Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
118000 USD
CY2020Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
46000 USD
CY2021Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
650000 USD
us-gaap Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
1123000 USD
CY2021Q3 us-gaap Accounts Receivable Gross
AccountsReceivableGross
1347000 USD
CY2020Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
559000 USD
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
40000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
21000 USD
CY2021Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
1307000 USD
CY2020Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
538000 USD
CY2021Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1280000 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
538000 USD
CY2021Q3 us-gaap Long Term Investments And Receivables Net
LongTermInvestmentsAndReceivablesNet
27000 USD
CY2020Q4 us-gaap Long Term Investments And Receivables Net
LongTermInvestmentsAndReceivablesNet
0 USD
CY2020Q4 crex Trade Receivables
TradeReceivables
538000 USD
CY2021Q3 us-gaap Prepaid Insurance
PrepaidInsurance
158000 USD
CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
53000 USD
CY2020Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
190000 USD
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2084000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1742000 USD
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3059000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2734000 USD
CY2021Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
63000 USD
CY2020Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
34000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
158000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
128000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1171000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
24929000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-1692000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
23237000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-919000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
252000 USD
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P8Y6M
crex Devloped Technologies
DevlopedTechnologies
P5Y8M12D
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
236000 USD
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
16000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
412000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
46000 USD
CY2021Q3 us-gaap Payments For Software
PaymentsForSoftware
270000 USD
CY2020Q3 us-gaap Payments For Software
PaymentsForSoftware
0 USD
us-gaap Payments For Software
PaymentsForSoftware
361000 USD
us-gaap Payments For Software
PaymentsForSoftware
0 USD
CY2021Q2 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
21520000 USD
CY2021Q1 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
2238000 USD
CY2020 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
121000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
507000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2110000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2553000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2849000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
15218000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
23237000 USD
crex Goodwill Carrying Amounttabletextblock
GoodwillCarryingAmounttabletextblock
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Goodwill</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Balance at December 31, 2020</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">272</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 15px">Centric Telecom business acquisition</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,123</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 15px">NetSapiens business acquisition</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">26,734</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Balance at September 30, 2021</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">28,129</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
crex Goodwill Ending
GoodwillEnding
272000 USD
crex Centric Telecom Business Acquisition
CentricTelecomBusinessAcquisition
1123000 USD
crex Business Acquisition
BusinessAcquisition
26734000 USD
crex Goodwill Ending Balance
GoodwillEndingBalance
28129 USD
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
698000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
513000 USD
CY2021Q3 crex Accrued Accounts Payable
AccruedAccountsPayable
915000 USD
CY2020Q4 crex Accrued Accounts Payable
AccruedAccountsPayable
505000 USD
CY2021Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
2616000 USD
CY2020Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
438000 USD
CY2021Q3 crex Product Warranty Liability
ProductWarrantyLiability
34000 USD
CY2020Q4 crex Product Warranty Liability
ProductWarrantyLiability
33000 USD
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
88000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
139000 USD
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4351000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1628000 USD
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
37000 USD
CY2020 us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
33000 USD
CY2020 us-gaap Adjustment Of Warrants Granted For Services
AdjustmentOfWarrantsGrantedForServices
-10000 USD
CY2020 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
27000 USD
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
33000 USD
us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
27000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
26000 USD
CY2021Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
34000 USD
CY2021Q3 us-gaap Product Warranty Expense
ProductWarrantyExpense
15000 USD
CY2020Q3 us-gaap Product Warranty Expense
ProductWarrantyExpense
11000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
27000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
29000 USD
CY2021Q3 us-gaap Notes Payable
NotesPayable
1891000 USD
CY2020Q4 us-gaap Notes Payable
NotesPayable
1944000 USD
CY2021Q3 us-gaap Notes Payable Current
NotesPayableCurrent
73000 USD
CY2021Q3 us-gaap Secured Long Term Debt
SecuredLongTermDebt
1818000 USD
CY2020Q4 us-gaap Secured Long Term Debt
SecuredLongTermDebt
1873000 USD
CY2021Q3 us-gaap Land Under Purchase Options Recorded
LandUnderPurchaseOptionsRecorded
2000000 USD
crex Lessee Leasing Arrangement Operating Leases Term Of Contract
LesseeLeasingArrangementOperatingLeasesTermOfContract
P7Y
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
19000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
74000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
76000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
79000 USD
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1643000 USD
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
1891000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
44 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
0 USD
CY2021Q3 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
746000 USD
CY2020Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
0 USD
crex Continguent Consideration
ContinguentConsideration
746000 USD
CY2020 crex Continguent Consideration
ContinguentConsideration
121000 USD
CY2019Q4 crex Fair Value Level Three
FairValueLevelThree
175000 USD
CY2020 crex Fair Value Adjustments Cash Payments
FairValueAdjustmentsCashPayments
-54000 USD
CY2020 crex Level3 Adjustments
Level3Adjustments
-121000 USD
CY2020Q4 crex Fair Value Level Three
FairValueLevelThree
0 USD
us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
746000 USD
crex Fair Value Adjustments Cash Payments
FairValueAdjustmentsCashPayments
0 USD
crex Level3 Adjustments
Level3Adjustments
0 USD
CY2021Q3 crex Fair Value Level Three
FairValueLevelThree
746000 USD
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
6054000 USD
CY2021Q3 us-gaap Amortization Of Leased Asset
AmortizationOfLeasedAsset
0 USD
CY2020Q3 us-gaap Amortization Of Leased Asset
AmortizationOfLeasedAsset
0 USD
CY2021Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
0 USD
us-gaap Amortization Of Leased Asset
AmortizationOfLeasedAsset
50000000 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
0 USD
CY2020Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
0 USD
us-gaap Amortization Of Leased Asset
AmortizationOfLeasedAsset
0 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
25000000 USD
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0300 pure
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.1509 pure
CY2021Q3 crex Product Expense
ProductExpense
20000000 USD
CY2020Q3 crex Product Expense
ProductExpense
0 USD
crex Product Expense
ProductExpense
48000000 USD
crex Product Expense
ProductExpense
0 USD
CY2021Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
13000000 USD
CY2020Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
0 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
21000000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
0 USD
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The outstanding balance for finance leases was $367,000 and $84,000 as of September 30, 2021 and December 31, 2020, respectively. The Company recorded assets classified as property and equipment under finance lease obligations of $497,000 and $129,000 as of September 30, 2021 and December 31, 2020, respectively. Related accumulated depreciation totaled $165,000 and $60,000 as of September 30, 2021 and 2020, respectively. The $39,000 in support contracts were classified as a prepaid expense and are being amortized over the service period of 3 years
CY2020Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2000000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6000000 USD
CY2021Q3 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0137 pure
CY2020Q3 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.067 pure
CY2021Q3 crex Product Revenue Services
ProductRevenueServices
54000000 USD
CY2020Q3 crex Product Revenue Services
ProductRevenueServices
0 USD
crex Product Revenue Services
ProductRevenueServices
148000000 USD
crex Product Revenue Services
ProductRevenueServices
0 USD

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