SofTech Announces Q4 and FY 2012 Operating Results
The Balance Sheets as of May 31, 2012 and 2011 are presented below.
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As of
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May 31,
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May 31,
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(000's)
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2012
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2011
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Cash
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$
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595
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$
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1,586
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Accounts receivable
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757
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907
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Other current assets
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308
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521
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Total current assets
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1,660
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3,014
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Property and equipment, net
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42
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58
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Goodwill
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4,246
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4,256
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Capitalized software development costs, net
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172
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-
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Capitalized patent costs
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82
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-
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Debt issuance costs, net
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210
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312
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Other non-current assets
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136
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136
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Total assets
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$
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6,548
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$
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7,776
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Accounts payable
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$
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266
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$
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239
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Accrued expenses
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333
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838
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Deferred maintenance revenue
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2,194
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2,301
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Current portion of long term debt
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720
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720
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Other current liabilities
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75
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173
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Total current liabilities
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3,588
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4,271
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Other non-current liabilities
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51
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144
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Long term debt
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1,480
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2,250
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Total liabilities
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5,119
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6,665
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Stockholders' equity
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1,429
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1,111
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Total liabilities and stockholders' equity
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$
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6,548
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$
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7,776
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