Consolidated Financial Statements Details |
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Organization Consolidation And Presentation Of Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated Financial Statements Details |
NOTE 7. CONSOLIDATED FINANCIAL STATEMENTS DETAILS Consolidated Balance Sheets Details Cash, cash equivalents, and restricted cash Cash, cash equivalents, and restricted cash consisted of the following:
The Company’s restricted cash is held as collateral for the Company’s stand-by letter of credit and credit cards. Accounts Receivable, Net Accounts receivable consisted of the following:
The amount that the Company invoices and collects from advertising clients includes the cost of the advertisement placed for them with media vendors and the amount of the commission earned by the Company. The average commission earned by the Company is less than 15% of the total amount invoiced and collected from the advertising clients. Property, equipment and improvements, net Property, equipment and improvements, net consisted of the following:
Depreciation expense was $271 and $822 for the three and nine months ended September 30, 2019, respectively. Depreciation expense was $236 and $451 for the three and nine months ended September 30, 2018, respectively.
Accounts Payable
Accounts payable consisted of the following:
Accounts payable – Advertising reflects the cost of advertisements placed with media vendors on behalf of the Company’s advertising clients. Consolidated Statement of Operations and Comprehensive Loss Details Net Revenues Net revenues for the periods presented were comprised of the following:
During the three and nine months ended September 30, 2019, the Company made $55,799 and $158,370, respectively, in gross media placements, of which $51,429 and $147,989 respectively, were billed directly to clients. Of the amounts billed directly to clients, $45,668 and $131,345 represented media-related costs netted against billings during the three and nine months ended September 30, 2019, respectively.
During the three and nine months ended September 30, 2018, the Company made $42,087 and $102,959, respectively, in gross media placements, of which $34,521 and $86,416, respectively, were billed directly to clients. Of the amounts billed directly to clients, $30,225 and $75,690 represented media-related costs netted against billings during the three and nine months ended September 30, 2018, respectively. Other Income, Net Other income, net for the periods presented was comprised of the following:
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