RECONCILIATION OF STOCKHOLDERS' EQUITY (DEFICIT) AND NON-CONTROLLING INTEREST

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

RECONCILIATION OF STOCKHOLDERS' EQUITY (DEFICIT) AND NON-CONTROLLING INTEREST

RECONCILIATION OF STOCKHOLDERS' DEFICIT AND NON-CONTROLLING INTEREST

The Company is authorized to issue 100,000,000 shares of preferred stock with such designations, voting and other rights and preferences as may be determined from time to time by the board of directors. As of March 31, 2020 and December 31, 2019, the Company has not issued any shares of preferred stock.

The following tables provide a reconciliation of the beginning and ending carrying amounts for the periods presented for the components of the deficit attributable to stockholders of the Company and equity attributable to non-controlling interest:

(in thousands)											Additional Paid-In Capital		Accumulated (Deficit)			Total Priority Technology Holdings, Inc. Stockholders' (Deficit)			Non-Controlling Interest (c)
	Preferred Stock			Common Stock			Treasury Stock (a)
	Shares	Amount		Shares	Amount		Shares	Amount
January 1, 2020	—	$	—	67,061	$	68	451	$	(2,388	)	$	3,651	$	(127,674	)	$	(126,343	)	$	5,654
Stock-based compensation	—	—		—	—		—	—			338		—			338			—
Net loss	—	—		—	—		—	—			—		(5,869		)	(5,869		)	—
March 31, 2020	—	$	—	67,061	$	68	451	$	(2,388	)	$	3,989	$	(133,543	)	$	(131,874	)	$	5,654

January 1, 2019	—	$	—	67,038	$	67	—	$	—	$	—	$	(94,085	)	$	(94,018	)	$	—
Stock-based compensation	—	—		—	—		—	—		1,160		—			1,160			—
Warrant redemptions (b)	—	—		420	(b)		—	—		(b)		—			—			—
Net loss	—	—		—	—		—	—		—		(6,446		)	(6,446		)	—
Issuance of non-controlling interest (c)	—	—		—	—		—	—		—		—			—			5,654
March 31, 2019	—	$	—	67,458	$	67	—	$	—	$	1,160	$	(100,531	)	$	(99,304	)	$	5,654

(a) At cost

(b) Par value of the common shares issued in connection with the warrant exchange rounds to less than one thousand dollars. In August 2018, the Company was informed by Nasdaq that it intended to delist the Company's outstanding warrants and units due to an insufficient number of round lot holders for the public warrants. The Company subsequently filed a Registration Statement on Form S-4 with the SEC for the purpose of offering holders of the Company's outstanding 5,310,109 public warrants and 421,107 private warrants the opportunity to exchange each warrant for 0.192 shares of the Company's common stock. The exchange offer expired in February 2019 resulting in a portion of the warrants being tendered in exchange for approximately 420,000 shares of the Company's common stock plus cash in lieu of fractional shares. Nasdaq proceeded to delist the remaining outstanding warrants and units, which were comprised of one share of common stock and one warrant, from The Nasdaq Global Market at the open of business on March 6, 2019. The delisting of the remaining outstanding warrants and units had no impact on the Company's financial statements.

(c) Related to the acquisition of certain assets from YapStone, Inc. See Note 3, Asset Acquisitions. During the three months ended March 31, 2020 and 2019, no earnings or losses were attributable to the non-controlling interest.