Research Solutions, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Research Solutions, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial data and stock-related information.</b>

AI Summary

Research Solutions, Inc. (RSSS) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. Research Solutions, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing includes data related to common stock, retained earnings, and additional paid-in capital as of various dates in 2023 and 2024. Specific financial data points such as accumulated other comprehensive income are also detailed. The report references restricted stock plans and publicly announced plans or programs. Key dates include March 19, 2024, for publicly announced plans and March 31, 2024, as the reporting period end.

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 equity structure as of Q1 2024. The detailed breakdown of stock and equity accounts is crucial for understanding the company's capital structure and potential dilution.

Risk Assessment

Risk Level: — Research Solutions, Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, providing routine financial updates without immediate indicators of significant risk or opportunity.

Analyst Insight

Monitor future filings for revenue growth and profitability trends to assess the company's operational performance.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report.)
• 2024-05-13 — Filing Date (Filed as of date.)
• 2023-07-01 — Start Date for Certain Financial Data (Used for reporting periods like restricted stock and common stock data.)

Key Players & Entities

• Research Solutions, Inc. (company) — Filer of the 10-Q report.
• 2024-03-31 (date) — Conformed period of report.
• 2024-05-13 (date) — Filed as of date.
• NV (location) — State of incorporation.
• 7389 (sic_code) — Standard Industrial Classification code for Business Services, NEC.

FAQ

Industry Context

Research Solutions, Inc. operates in the business services sector, providing research and data solutions.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management discussion.
2. Analyze trends in equity accounts (retained earnings, additional paid-in capital) over subsequent filings.
3. Track any disclosures related to stock plans and their potential impact on share count.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-13: Filing Date — Date the 10-Q was officially filed with the SEC.
• 2024-03-19: Publicly Announced Plans/Programs — Date associated with specific company plans or programs mentioned in the filing.

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ending March 31, 2024, providing a snapshot of the company's financial position.

Key Financial Figures

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

Filing Documents

• rsss-20240331x10q.htm (10-Q) — 2577KB
• rsss-20240331xex31d1.htm (EX-31.1) — 13KB
• rsss-20240331xex31d2.htm (EX-31.2) — 13KB
• rsss-20240331xex32d1.htm (EX-32.1) — 6KB
• rsss-20240331xex32d2.htm (EX-32.2) — 6KB
• rsss-20240331x10q001.jpg (GRAPHIC) — 20KB
• rsss-20240331x10q002.jpg (GRAPHIC) — 24KB
• 0001558370-24-007952.txt (&nbsp;) — 7772KB
• rsss-20240331.xsd (EX-101.SCH) — 40KB
• rsss-20240331_cal.xml (EX-101.CAL) — 34KB
• rsss-20240331_def.xml (EX-101.DEF) — 209KB
• rsss-20240331_lab.xml (EX-101.LAB) — 339KB
• rsss-20240331_pre.xml (EX-101.PRE) — 293KB
• rsss-20240331x10q_htm.xml (XML) — 1323KB

— 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 March 31, 2024 June 30, (unaudited) 2023 Assets Current assets: Cash and cash equivalents $ 4,221,424 $ 13,545,333 Accounts receivable, net of allowance of $ 103,319 and $ 85,015 , respectively 7,323,379 6,153,063 Prepaid expenses and other current assets 635,000 400,340 Prepaid royalties 1,004,790 1,202,678 Total current assets 13,184,593 21,301,414 Non-current assets: Property and equipment, net of accumulated depreciation of $ 920,918 and $ 881,908 , respectively 94,078 70,193 Intangible assets, net of accumulated amortization of $ 1,237,311 and $ 747,355 , respectively ($ 10,527,713 provisional) 11,029,679 462,068 Goodwill (provisional) 16,493,763 — Deposits and other assets 1,086 1,052 Total assets $ 40,803,199 $ 21,834,727 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and accrued expenses $ 9,011,868 $ 8,079,516 Deferred revenue 8,870,316 6,424,724 Total current liabilities 17,882,184 14,504,240 Non-current liabilities: Contingent earnout liability 8,792,756 — Total liabilities 26,674,940 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; 32,281,424 and 29,487,508 shares issued and outstanding, respectively 32,281 29,487 Additional paid-in capital 37,695,960 29,941,873 Accumulated deficit ( 23,488,019 ) ( 22,522,649 ) Accumulated other comprehensive loss ( 111,963 ) ( 118,224 ) Total stockholders' equity 14,128,259 7,330,487 Total liabilities and stockholders' equity $ 40,803,199 $ 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