Research Solutions, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Research Solutions, Inc. filed its quarterly report (10-Q) for the period ending December 31, 2023, detailing financial data and corporate history.</b>

AI Summary

Research Solutions, Inc. (RSSS) filed a Quarterly Report (10-Q) with the SEC on February 12, 2024. Research Solutions, Inc. filed a 10-Q for the period ending December 31, 2023. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on June 30. The company was formerly known as Derycz Scientific Inc, with a name change on January 12, 2007. The filing includes data related to common stock, retained earnings, and additional paid-in capital as of various dates in 2022 and 2023.

Why It Matters

For investors and stakeholders tracking Research Solutions, Inc., this filing contains several important signals. This 10-Q filing provides investors with an updated view of Research Solutions, Inc.'s financial health and operational status for the second quarter of fiscal year 2024. Understanding the details within this report is crucial for assessing the company's performance, identifying trends, and making informed investment decisions regarding Research Solutions, Inc. (RSSS).

Risk Assessment

Risk Level: low — Research Solutions, Inc. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not indicate any unusual or high-risk events.

Analyst Insight

Monitor future 10-Q filings for trends in financial performance and compare key metrics against industry benchmarks.

Key Numbers

• 2023-12-31 — Period End Date (Conformed period of report)
• 2024-02-12 — Filing Date (Filed as of date)
• 06-30 — Fiscal Year End (Fiscal year end)
• 2007-01-12 — Name Change Date (Date of former company name change)

Key Players & Entities

• Research Solutions, Inc. (company) — Filer name
• Derycz Scientific Inc (company) — Former company name
• 2023-12-31 (date) — Period of report
• 2024-02-12 (date) — Filed as of date
• NV (location) — State of incorporation
• 7389 (industry_code) — Standard Industrial Classification

Forward-Looking Statements

• Research Solutions, Inc. will continue to report net losses in the next fiscal quarter. (Research Solutions, Inc.) — medium confidence, target: 2024-03-31

FAQ

Industry Context

Research Solutions, Inc. operates within the business services sector, specifically classified under 'SERVICES-BUSINESS SERVICES, NEC'.

Regulatory Implications

The filing is a 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the detailed financial statements within the 10-Q for the period ending December 31, 2023.
2. Analyze any disclosed risk factors or management discussions that may impact future performance.
3. Compare the reported financial metrics with previous quarters and the same period in the prior year.

Year-Over-Year Comparison

This filing is a 10-Q for the period ending December 31, 2023, providing an update from previous filings.

Key Financial Figures

• $0.001 — nge on which registered Common stock, $0.001 par value RSSS The Nasdaq Stock Mar

Filing Documents

• rsss-20231231x10q.htm (10-Q) — 2498KB
• rsss-20231231xex31d1.htm (EX-31.1) — 13KB
• rsss-20231231xex31d2.htm (EX-31.2) — 13KB
• rsss-20231231xex32d1.htm (EX-32.1) — 6KB
• rsss-20231231xex32d2.htm (EX-32.2) — 6KB
• rsss-20231231x10q001.jpg (GRAPHIC) — 20KB
• rsss-20231231x10q002.jpg (GRAPHIC) — 24KB
• 0001558370-24-000977.txt (&nbsp;) — 7652KB
• rsss-20231231.xsd (EX-101.SCH) — 40KB
• rsss-20231231_cal.xml (EX-101.CAL) — 33KB
• rsss-20231231_def.xml (EX-101.DEF) — 213KB
• rsss-20231231_lab.xml (EX-101.LAB) — 328KB
• rsss-20231231_pre.xml (EX-101.PRE) — 296KB
• rsss-20231231x10q_htm.xml (XML) — 1308KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 3

Condensed Consolidated Financial Statements (unaudited)

Item 1. Condensed Consolidated Financial Statements (unaudited) 3

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 34

Controls and Procedures

Item 4. Controls and Procedures 34

— OTHER INFORMATION

PART II — OTHER INFORMATION 35

Risk Factors

Item 1A. Risk Factors 35

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35

Exhibits

Item 6. Exhibits 36

SIGNATURES

SIGNATURES 37 2 Table of Contents PART 1 — FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements Research Solutions, Inc. and Subsidiaries Condensed Consolidated Balance Sheets December 31, 2023 June 30, (unaudited) 2023 Assets Current assets: Cash and cash equivalents $ 2,697,659 $ 13,545,333 Accounts receivable, net of allowance of $ 94,991 and $ 85,015 , respectively 7,289,248 6,153,063 Prepaid expenses and other current assets 547,786 400,340 Prepaid royalties 1,081,578 1,202,678 Total current assets 11,616,271 21,301,414 Non-current assets: Property and equipment, net of accumulated depreciation of $ 905,411 and $ 881,908 , respectively 103,195 70,193 Intangible assets, net of accumulated amortization of $ 940,234 and $ 747,355 , respectively ($ 10,806,487 provisional) 11,290,225 462,068 Goodwill (provisional) 16,451,937 — Deposits and other assets 1,060 1,052 Total assets $ 39,462,688 $ 21,834,727 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and accrued expenses $ 8,862,829 $ 8,079,516 Deferred revenue 7,843,674 6,424,724 Total current liabilities 16,706,503 14,504,240 Non-current liabilities: Contingent earnout liability 8,792,811 — Total liabilities 25,499,314 14,504,240 Commitments and contingencies Stockholders' equity: Preferred stock; $ 0.001 par value; 20,000,000 shares authorized; no shares issued and outstanding — — Common stock; $ 0.001 par value; 100,000,000 shares authorized; 32,619,598 and 29,487,508 shares issued and outstanding, respectively 32,620 29,487 Additional paid-in capital 37,607,895 29,941,873 Accumulated deficit ( 23,564,320 ) ( 22,522,649 ) Accumulated other comprehensive loss ( 112,821 ) ( 118,224 ) Total stockholders' equity 13,963,374 7,330,487 Total liabilities and stockholders' equity $ 39,462,688 $ 21,834,727 See notes to condensed consolidated financial statements 3 Table of Contents Research

View Full Filing

View this 10-Q filing on SEC EDGAR