Note 4 - Accrued Expenses and Other Current Liabilities

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

Note 4 - Accrued Expenses and Other Current Liabilities

Consolidated accrued expenses and other current liabilities were $1,131,000 and $1,038,000 as of December 31, 2024, and 2023, respectively, consisting primarily of compensation, taxes and fees, and rent expenses. The 9% year-over-year increase was primarily due to increases in tax and accrued compensation.

Our consolidated balances for the years ended December 31, 2024, and 2023 consisted of the following (in thousands):

	December 31,
	2024		2023
Compensation costs	$	560	$	448
Customer deposits		77		118
Professional fees		86		104
Taxes and regulatory fees		201		22
Accrued rent		170		202
Accrued dividends on Series F Preferred Stock		29		136
Other accrued expenses and liabilities		8		8
	$	1,131	$	1,038

As of December 31, 2024, and 2023, respectively, our Managed Services segment had accrued expenses and other current liabilities of $18,000 and $19,000, respectively. These expenses consisted primarily of taxes and regulatory fees. The 5% year-over-year decrease was primarily related to a reduction in regulatory fees.

As of December 31, 2024, and 2023, respectively, accrued expenses and other current liabilities for our Collaboration Products segment were $252,000 and $320,000, respectively. These amounts primarily consist of rent expenses and customer deposits. The 21% year-over-year decrease was related to reductions in both of these categories.

Unallocated accrued expenses were $861,000 and $699,000 as of December 31, 2024, and 2023, respectively. For 2024, unallocated accrued expenses consisted primarily of compensation expenses, professional service expenses, and corporate franchise taxes. For 2023, unallocated accrued expenses consisted primarily of compensation expenses and accrued dividends on our Series F Preferred Stock. The 23% year-over-year increase is primarily related primarily to an increase in corporate taxes and compensation expenses, partially offset by a reduction in accrued dividends.