SofTech Announces Q3 Fiscal Year 2013 Operating Results

The Balance Sheets as of February 28, 2013 and our fiscal year end May 31, 2012 are presented below.

Balance Sheets
(in thousands)

 

               
 
As of
Feb. 28, May 31,
2013     2012
Cash $ 2 $ 595
Accounts receivable 1,177 757
Other current assets   531       308
Total current assets   1,710       1,660
 
Property and equipment, net 70 42
Goodwill 4,250 4,246
Other non-current assets   682       600
Total assets $ 6,712     $ 6,548
 
Accounts payable $ 191 $ 266
Accrued expenses 484 333
Deferred maintenance revenue 2,007 2,194
Current portion of long term debt 1,645 720
Other current liabilities   321       75
Total current liabilities   4,648       3,588
 
Other non-current liabilities 52 51
Long term debt   -       1,480
Total liabilities   4,700       5,119
 
Redeemable common stock   275       -
 
Stockholders' equity   1,737       1,429

Total liabilities, redeemable common stock and stockholders' equity

$ 6,712     $ 6,548
 
 




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