Agent Information Software : AIFS 2nd Qtr 2022 Financial Results

AGENT INFORMATION SOFTWARE, INC.

Quarterly Reports

Quarter Ended June 30, 2022

Trading Symbol: AIFS

Agent Information Software, Inc. ● 10535 Foothill Blvd., Suite 200 ● Rancho Cucamonga, CA 91730 ● [phone]

AGENT INFORMATION SOFTWARE, INC.

Quarterly Report

June 30, 2022 and 2021

TABLE OF CONTENTS

	Page
	Reference
Financial Statements
Unaudited Consolidated Balance Sheets	3
June 30, 2022 and 2021
Unaudited Consolidated Statements of Operations	4
For the Six Months Ended June 30, 2022 and 2021
Unaudited Consolidated Statements of Cash Flow	5
For the Six Months Ended June 30, 2022 and 2021
Unaudited Consolidated Statements of Retained Earnings	6
For the Six Months Ended June 30, 2022 and 2021
Notes to Unaudited Consolidated Financial Statements	7-8

AGENT INFORMATION SOFTWARE, INC.

Quarterly Report

Unaudited Consolidated Balance Sheets

June 30, 2022 and 2021

			June 30
			2022
	ASSETS
Current assets:
Cash and cash equivalents	$	2,136,066
Restricted cash			-
Accounts receivable, trade			1,072,722
Deferred income taxes, current			-
Other current assets			261,227
Total current assets			3,470,015
Capitalized software, net			2,144,455
Equipment, net			362,854
Total assets		$	5,977,324

LIABILITIES & STOCKHOLDERS' EQUITY

	June 30
	2021
$	2,484,135
	-
	1,352,069
	-
	251,936
	4,088,140
	2,375,341
	334,586
$	6,798,067

Current liabilities:

Current maturities on long-term debt Accounts payable, trade

Deferred revenue

Accrued payroll and related liabilities Other accrued liabilities

Total current liabilities

Long-term debt Accrued income taxes Deferred income taxes

Total liabilities

Stockholders' equity:

Common stock, $0.001 par value, 12,000,000 shares authorized, 4,682,910 shares issued

and outstanding

Accumulated other comprehensive income (loss) Accumulated deficit

Total stockholders' equity

Total liabilities and stockholders' equity

$ - 61,609

1,894,801

190,104

51,986

2,198,500

-

(26,116)

122,000

2,294,384

3,542,099

(128,133)

268,974

3,682,940 $ 5,977,324

$	-
	29,751
	2,267,211
	171,280
	95,971
	2,564,213
	-
	64,588
	257,000
	2,885,801
	3,408,883
	(215,533)
	718,916
	3,912,266
$	6,798,067

- 3 -

AGENT INFORMATION SOFTWARE, INC.

Quarterly Report

Unaudited Consolidated Statements of Operations

For the Six Months Ended June 30, 2022 and 2021

		June 30			June 30
		2022			2021
Revenues:
Recurring Revenue	$	2,595,287	$	2,577,263
Non-recurring Revenue		49,045			17,160
Total Net Revenue		2,644,332			2,594,423
Cost and expenses:
Cost of sales		661,143			598,254
Research and development		63,176			135,695
Sales, marketing and customer service		980,513			975,928
General and administrative		811,127			601,544
Total costs and expenses		2,515,959			2,311,421
Income from operations		128,373			283,002
Other income (expense):
Other income (expense), net		3,276			28,852
Total other income (expense):		3,276			28,852
Income before provision for income taxes		131,649			311,854
Provision for income taxes		43,253			93,455
Net income (loss)	$	88,396	$	218,399
Earnings per share - Basic	$	0.02	$	0.05
Weighted average shares outstanding - Basic		4,682,910			4,494,577
Earnings per share - Diluted	$	0.02	$	0.04
Weighted average shares outstanding - Diluted		5,282,276			5,205,244

- 4 -

AGENT INFORMATION SOFTWARE, INC.

Quarterly Report

Unaudited Consolidated Statements of Cash Flow

For the Six Months Ended June 30, 2022 and 2021

		June 30			June 30
		2022			2021
Cash Flows from Operating Activities:
Net Income (Loss)	$	88,396	$	218,399
Adjustments to reconcile net income (loss)		-			-
to net cash provided by operations:
Depreciation and Amortization		392,552			338,442
Stock Option Expense		3,000			5,188
Gain on Sales of Assets		-			28,000
Deferred Income Tax Benefit		-			-
Changes in operating assets & liabilities		(440,612)			(269,708)
Net Cash Provided by Operating Activities		43,336			320,321
Cash Flows from Investing Activities:
Proceeds from Sale of Assets		-			-
Acquisition of Property & Eqpt		(2,540)			(5,614)
Capitalized Software Development		(521,429)			(438,136)
Net Cash Used in Investing Activities	$	(523,969)		$	(443,750)
Cash Flows from Financing Activities:
Dividend Payments		(163,902)			(157,310)
Proceeds (Payments) from (of) Long-Term Debt		-			-
Net Cash Used in Financing Activities		(163,902)			(157,310)
Effect of exchange rate changes on cash		(36,268)			16,715
Net Increase (Decrease) in Cash		(680,803)			(264,024)
Cash and Cash Equivalents, Beginning of Year		2,816,869			2,748,159
Cash and Cash Equivalents, June 30, 2022 and 2021		2,136,066		$	2,484,135

- 5 -