XML 47 R2.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 4,280 $ 12,801
Restricted cash 1,793 3,116
Accounts receivable, net 54,319 44,826
Income tax receivable 273 1,511
Prepaid expenses and other current assets 3,776 4,965
Total current assets 64,441 67,219
Deferred tax assets, net 292 436
Investments 289 255
Property and equipment, net 4,654 4,263
Operate lease right of use assets, net 11,129
Goodwill 692 695
Other assets 955 914
Total assets 82,452 73,782
CURRENT LIABILITIES:    
Bank overdrafts 1,778 845
Notes payable - banks 22,609 11,889
Accounts payable 6,071 5,886
Accrued expenses and other current liabilities 32,110 42,673
Income tax payable 3,359 1,958
Value added tax (VAT) payable 6,988 11,439
Operating lease liabilities, current 2,909
Loan payable to related party, including accrued interest 375 368
Convertible notes payable to a related party, including accrued interest 27,079
Total current liabilities 103,278 75,058
Convertible notes payable to a related party, including accrued interest 30,932
Loan payable 2,279 2,288
Operating lease liabilities, non current 8,228
Other liabilities 87 360
Total liabilities 113,872 108,638
SHAREHOLDERS' DEFICIT:    
Common stock, 0.45 Euro par value; 33,333,334 shares authorized as of June 30, 2019 and December 31, 2018; 31,952,364 and 25,100,000 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively 16,379 12,896
Additional paid-in capital 24,063 23,457
Accumulated deficit (65,621) (64,964)
Accumulated other comprehensive loss (6,241) (6,245)
Total shareholders' deficit (31,420) (34,856)
Total liabilities and shareholders' deficit $ 82,452 $ 73,782