Research Solutions Inc
For the period ended May 9, 2024. Filed May 9, 2024.
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May 9, 2024 · Filed May 9, 2024
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RSSS$1.820.0%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · (Unaudited)
(Unaudited)
| Nine Months Ended | ||
|---|---|---|
| March 31, | ||
| 2024 | 2023 | |
| Cash flow from operating activities: | ||
| Net income (loss) | $(965,370) | $195,877 |
| Adjustment to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 525,267 | 30,486 |
| Fair value of vested stock options | 104,502 | 338,973 |
| Fair value of vested restricted common stock | 1,603,820 | 925,550 |
| Fair value of vested unrestricted common stock | — | 68,272 |
| Modification cost of accelerated vesting of restricted common stock | 20,949 | — |
| Adjustment to contingent earnout liability | (268,287) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (739,883) | (1,545,695) |
| Prepaid expenses and other current assets | (156,026) | (122,700) |
| Prepaid royalties | 197,888 | 47,760 |
| Accounts payable and accrued expenses | 498,584 | 947,789 |
| Deferred revenue | 768,347 | 986,044 |
| Net cash provided by operating activities | 1,589,791 | 1,872,356 |
| Cash flow from investing activities: | ||
| Purchase of property and equipment | (57,761) | (29,976) |
| Payment for acquisition of Resolute, net of cash acquired | (2,718,253) | — |
| Payment for acquisition of Scite, net of cash acquired | (7,305,493) | — |
| Payment for non-refundable deposit for asset acquisition | — | (297,450) |
| Net cash used in investing activities | (10,081,507) | (327,426) |
| Cash flow from financing activities: | ||
| Proceeds from the exercise of stock options | — | 57,500 |
| Common stock repurchase | (522,024) | (74,556) |
| Payment of contingent acquisition consideration | (314,960) | — |
| Net cash used in financing activities | (836,984) | (17,056) |
| Effect of exchange rate changes | 4,791 | 1,850 |
| Net increase (decrease) in cash and cash equivalents | (9,323,909) | 1,529,724 |
| Cash and cash equivalents, beginning of period | 13,545,333 | 10,603,175 |
| Cash and cash equivalents, end of period | $4,221,424 | $12,132,899 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for income taxes | $82,049 | $5,543 |
| Non-cash investing and financing activities: | ||
| Contingent consideration accrual on asset acquisition | $36,130 | $144,384 |
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