We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Insignia Systems Inc | NASDAQ:ISIG | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7.73 | 6.80 | 8.70 | 0 | 01:00:00 |
For the fiscal year ended December
31, 2018
|
Commission File Number
1-13471
|
INSIGNIA
SYSTEMS, INC.
|
(Exact name of registrant as
specified in its charter)
|
Minnesota
|
41-1656308
|
(State or other jurisdiction of
incorporation or organization)
|
(IRS Employer Identification
No.)
|
8799 Brooklyn
Blvd., Minneapolis, MN 55445
|
(Address of principal executive
offices; zip code)
|
(763)
392-6200
|
(Registrant’s telephone
number, including area code)
|
Title of each
class:
|
Name of each exchange on which
registered:
|
Common Stock, $.01 par
value
|
The Nasdaq Stock
Market
|
PART
I.
|
Page
|
|
1
|
||
5
|
||
8
|
||
8
|
||
8
|
||
8
|
||
|
|
|
PART
II.
|
|
|
9
|
||
10
|
||
10
|
||
14
|
||
15
|
||
34
|
||
34
|
||
34
|
||
|
|
|
PART
III.
|
|
|
35
|
||
36
|
||
36
|
||
36
|
||
36
|
||
|
|
|
PART
IV.
|
|
|
37
|
||
38
|
||
39
|
|
Total Number
of Shares
Repurchased
|
Average
Price Paid
Per Share
|
Total Number of
Shares Purchased As
Part of Publicly
Announced Plans
or Programs
|
Approximate Dollar
Value of Shares That
May Yet Be Purchased
under the Plans
or Programs
|
October
1-31, 2018
|
18,272
(a)
|
$
1.77
|
14,768
|
$
2,710,384
|
November
1-30, 2018
|
1,750
|
1.79
|
1,750
|
$
2,707,252
|
December
1-31, 2018
|
-
|
-
|
-
|
$
2,707,252
|
For the Years Ended December 31
|
2018
|
2017
|
Net
sales
|
100.0
%
|
100.0
%
|
Cost
of sales
|
62.2
|
68.2
|
Gross
profit
|
37.8
|
31.8
|
Operating
expenses:
|
|
|
Selling
|
10.3
|
13.4
|
Marketing
|
8.0
|
6.5
|
General
and administrative
|
14.0
|
15.3
|
Total
operating expenses
|
32.3
|
35.2
|
Operating
income (loss)
|
5.5
|
(3.4
)
|
Other
income
|
0.2
|
0.0
|
Income
(loss) before taxes
|
5.7
|
(3.4
)
|
Income
tax expense (benefit)
|
1.5
|
(1.0
)
|
Net
income (loss)
|
4.2
%
|
(2.4
)%
|
16
|
|
|
|
17
|
|
|
|
18
|
|
|
|
19
|
|
|
|
20
|
|
|
|
21
|
I
nsignia Systems, Inc.
|
||
BALANCE SHEETS
|
||
|
|
|
As of December 31
|
2018
|
2017
|
ASSETS
|
|
|
Current Assets:
|
|
|
Cash
and cash equivalents
|
$
10,160,000
|
$
4,695,000
|
Accounts
receivable, net
|
8,763,000
|
11,864,000
|
Inventories
|
353,000
|
301,000
|
Income
tax receivable
|
127,000
|
360,000
|
Prepaid
expenses and other
|
306,000
|
415,000
|
Total
Current Assets
|
19,709,000
|
17,635,000
|
|
|
|
Other Assets:
|
|
|
Property
and equipment, net
|
3,268,000
|
2,670,000
|
Other,
net
|
976,000
|
1,383,000
|
|
|
|
Total Assets
|
$
23,953,000
|
$
21,688,000
|
|
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY
|
|
|
Current Liabilities:
|
|
|
Accounts
payable:
|
|
|
Other
|
3,334,000
|
3,232,000
|
Accrued
liabilities:
|
|
|
Compensation
|
2,021,000
|
1,531,000
|
Other
|
701,000
|
667,000
|
Deferred
revenue
|
302,000
|
372,000
|
Total
Current Liabilities
|
6,358,000
|
5,802,000
|
|
|
|
Long-Term Liabilities:
|
|
|
Deferred
tax liabilities
|
504,000
|
245,000
|
Accrued
income taxes
|
613,000
|
581,000
|
Deferred
rent
|
158,000
|
219,000
|
Total
Long-Term Liabilities
|
1,275,000
|
1,045,000
|
|
|
|
Commitments and Contingencies
|
—
|
—
|
|
|
|
Shareholders' Equity:
|
|
|
Common
stock, par value $.01:
|
|
|
Authorized
shares - 40,000,000
|
|
|
Issued
and outstanding shares - 11,840,000 in 2018 and 11,914,000 in
2017
|
118,000
|
119,000
|
Additional
paid-in capital
|
15,442,000
|
15,361,000
|
Retained
earnings (Accumulated deficit)
|
760,000
|
(639,000
)
|
Total
Shareholders' Equity
|
16,320,000
|
14,841,000
|
|
|
|
Total Liabilities and Shareholders' Equity
|
$
23,953,000
|
$
21,688,000
|
|
|
|
See accompanying notes to financial statements.
|
Insignia Systems, Inc.
|
||
S
TATEMENTS OF OPERATIONS
|
||
|
|
|
Year Ended December 31
|
2018
|
2017
|
Services
revenues
|
$
31,623,000
|
$
24,911,000
|
Products
revenues
|
1,613,000
|
1,519,000
|
Total
Net Sales
|
33,236,000
|
26,430,000
|
|
|
|
Cost
of services
|
19,467,000
|
16,935,000
|
Cost
of goods sold
|
1,208,000
|
1,094,000
|
Total
Cost of Sales
|
20,675,000
|
18,029,000
|
Gross
Profit
|
12,561,000
|
8,401,000
|
|
|
|
Operating Expenses:
|
|
|
Selling
|
3,429,000
|
3,539,000
|
Marketing
|
2,674,000
|
1,716,000
|
General
and administrative
|
4,626,000
|
4,054,000
|
Total
Operating Expenses
|
10,729,000
|
9,309,000
|
Operating
Income (Loss)
|
1,832,000
|
(908,000
)
|
|
|
|
Other
income (loss)
|
51,000
|
(1,000
)
|
Income
(Loss) Before Taxes
|
1,883,000
|
(909,000
)
|
|
|
|
Income
tax expense (benefit)
|
484,000
|
(270,000
)
|
Net
Income (Loss)
|
$
1,399,000
|
$
(639,000
)
|
|
|
|
Net
income (loss) per share:
|
|
|
Basic
|
$
0.12
|
$
(0.06
)
|
Diluted
|
$
0.12
|
$
(0.06
)
|
|
|
|
Shares
used in calculation of net income (loss) per share:
|
|
|
Basic
|
11,776,000
|
11,717,000
|
Diluted
|
12,007,000
|
11,717,000
|
|
|
|
See accompanying notes to financial statements.
|
Insignia Systems, Inc.
|
|||||
S
TATEMENTS OF SHAREHOLDERS'
EQUITY
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Common
|
|
Additional
|
Retained Earnings
|
|
|
Stock
Shares
|
Amount
|
Paid-In
Capital
|
(Accumulated Deficit)
|
Total
|
Balance at January 1, 2017
|
11,761,000
|
$
118,000
|
$
14,991,000
|
$
-
|
$
15,109,000
|
Repurchase of
common stock upon vesting of restricted stock awards and vesting of
restricted stock units, net
|
21,000
|
-
|
(16,000
)
|
-
|
(16,000
)
|
Value of
stock-based compensation
|
72,000
|
1,000
|
386,000
|
-
|
387,000
|
Restricted
stock award issuance
|
60,000
|
-
|
-
|
-
|
-
|
Net
loss
|
-
|
-
|
-
|
(639,000
)
|
(639,000
)
|
|
|
|
|
|
|
Balance at December 31, 2017
|
11,914,000
|
$
119,000
|
$
15,361,000
|
$
(639,000
)
|
$
14,841,000
|
Issuance of
common stock, net
|
49,000
|
1,000
|
48,000
|
-
|
49,000
|
Repurchase of
common stock, net
|
(164,000
)
|
(2,000
)
|
(296,000
)
|
-
|
(298,000
)
|
Repurchase of
common stock upon vesting of restricted stock awards and vesting of
restricted stock units, net
|
(22,000
)
|
-
|
(81,000
)
|
-
|
(81,000
)
|
Value of
stock-based compensation
|
-
|
-
|
410,000
|
-
|
410,000
|
Restricted
stock award issuance
|
63,000
|
-
|
-
|
-
|
-
|
Net
income
|
-
|
-
|
-
|
1,399,000
|
1,399,000
|
Balance at December 31, 2018
|
11,840,000
|
$
118,000
|
$
15,442,000
|
$
760,000
|
$
16,320,000
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to financial
statements.
|
Insignia Systems, Inc.
|
||
S
TATEMENTS OF CASH FLOWS
|
||
|
|
|
|
|
|
Year Ended December 31
|
2018
|
2017
|
Operating activities:
|
|
|
Net
income (loss)
|
$
1,399,000
|
$
(639,000
)
|
Adjustments
to reconcile net income (loss) to net cash provided by operating
activities:
|
|
|
Depreciation
and amortization
|
1,167,000
|
1,348,000
|
Changes
in allowance for doubtful accounts
|
(191,000
)
|
72,000
|
Deferred
income tax expense
|
259,000
|
40,000
|
Stock-based
compensation
|
410,000
|
387,000
|
Gain
on sale of property and equipment
|
(35,000
)
|
-
|
Changes
in operating assets and liabilities:
|
|
|
Accounts
receivable
|
3,292,000
|
(2,057,000
)
|
Inventories
|
(52,000
)
|
24,000
|
Income
tax receivable
|
233,000
|
415,000
|
Prepaid
expenses and other
|
109,000
|
274,000
|
Accounts
payable
|
95,000
|
697,000
|
Accrued
liabilities and deferred rent
|
463,000
|
882,000
|
Accrued
income taxes
|
32,000
|
27,000
|
Deferred
revenue
|
(70,000
)
|
310,000
|
Net
cash provided by operating activities
|
7,111,000
|
1,780,000
|
|
|
|
Investing activities:
|
|
|
Purchases
of property and equipment
|
(1,337,000
)
|
(1,159,000
)
|
Proceeds
from sale of property and equipment
|
35,000
|
-
|
Net
cash used in investing activities
|
(1,302,000
)
|
(1,159,000
)
|
|
|
|
Financing activities:
|
|
|
Cash
dividends paid ($0.70 per share)
|
(14,000
)
|
(8,177,000
)
|
Proceeds
from issuance of common stock, net
|
49,000
|
-
|
Repurchase
of common stock upon vesting of restricted stock awards and vesting
of restricted stock units
|
(81,000
)
|
(16,000
)
|
Repurchase
of common stock, net
|
(298,000
)
|
-
|
Net
cash used in financing activities
|
(344,000
)
|
(8,193,000
)
|
|
|
|
Increase
(decrease) in cash and cash equivalents
|
5,465,000
|
(7,572,000
)
|
|
|
|
Cash
and cash equivalents at beginning of year
|
4,695,000
|
12,267,000
|
Cash
and cash equivalents at end of year
|
$
10,160,000
|
$
4,695,000
|
|
|
|
Supplemental disclosures for cash flow information:
|
|
|
Cash
refunded during the year for income taxes
|
$
(39,000
)
|
$
(743,000
)
|
|
|
|
Non-cash investing and financing activities:
|
|
|
Cash
dividends declared included in accounts payable
|
$
42,000
|
$
56,000
|
Purchases
of property and equipment included in accounts payable
|
$
60,000
|
$
39,000
|
|
|
|
See accompanying notes to financial statements.
|
December 31
|
2018
|
2017
|
Beginning
balance
|
$
213,000
|
$
141,000
|
Bad
debt provision
|
6,000
|
72,000
|
Accounts
written-off
|
(197,000
)
|
-
|
Ending
balance
|
$
22,000
|
$
213,000
|
December 31
|
2018
|
2017
|
Raw
materials
|
$
80,000
|
$
68,000
|
Work-in-process
|
12,000
|
10,000
|
Finished
goods
|
261,000
|
223,000
|
|
$
353,000
|
$
301,000
|
Production
tooling, machinery and equipment
|
1 - 6
years
|
Office
furniture and fixtures
|
3
years
|
Computer
equipment and software
|
3 - 5
years
|
Year ended December 31
|
2018
|
2017
|
Denominator
for basic net income (loss) per share - weighted average
shares
|
11,776,000
|
11,717,000
|
Effect
of dilutive securities:
|
|
|
Stock
options, restricted stock units and restricted stock
awards
|
231,000
|
-
|
Denominator
for diluted net income (loss) per share - weighted average
shares
|
12,007,000
|
11,717,000
|
|
Year ended December 31, 2018
|
||
|
Services Revenues
|
Products Revenue
|
Total Revenue
|
Timing of revenue recognition:
|
|
|
|
Products
and services transferred over time
|
$
28,598,000
|
—
|
$
28,598,000
|
Products
and services transferred at a point in time
|
$
3,025,000
|
$
1,613,000
|
$
4,638,000
|
Total
|
$
31,623,000
|
$
1,613,000
|
$
33,236,000
|
Balance
at December 31, 2017
|
$
372,000
|
Reclassification
of beginning deferred revenue to revenue, as a result of
performance obligations satisfied
|
( 372,000
)
|
Cash
received in advance and not recognized as revenue
|
302,000
|
Balance
at December 31, 2018
|
$
302,000
|
|
2018
|
2017
|
Gross
cost
|
$
4,000,000
|
$
4,000,000
|
Accumulated
amortization
|
(3,083,000
)
|
(2,683,000
)
|
Net
carrying amount
|
$
917,000
|
$
1,317,000
|
Year ended December 31
|
2018
|
2017
|
Property and Equipment:
|
|
|
Production
tooling, machinery and equipment
|
$
3,694,000
|
$
4,003,000
|
Office
furniture and fixtures
|
385,000
|
325,000
|
Computer
equipment and software
|
2,743,000
|
2,680,000
|
Leasehold
improvements
|
577,000
|
577,000
|
Construction
in-progress
|
1,179,000
|
206,000
|
|
8,578,000
|
7,791,000
|
Accumulated
depreciation and amortization
|
(5,310,000
)
|
(5,121,000
)
|
Net
Property and Equipment
|
$
3,268,000
|
$
2,670,000
|
2019
|
$
217,000
|
2020
|
222,000
|
2021
|
57,000
|
2019
|
$
2,907,000
|
2020
|
2,614,000
|
2021
|
1,871,000
|
2022
|
525,000
|
2023
|
279,000
|
Year ended December 31
|
2018
|
2017
|
Cost
of sales
|
$
11,000
|
$
52,000
|
Selling
|
102,000
|
75,000
|
Marketing
|
71,000
|
51,000
|
General
and administrative
|
226,000
|
209,000
|
|
$
410,000
|
$
387,000
|
|
2018
|
2017
|
Stock Options:
|
|
|
Expected
life (years)
|
6.5
|
2.0
|
Expected
volatility
|
51
%
|
46
%
|
Dividend
yield
|
0
%
|
0
%
|
Risk-free
interest rate
|
2.8
%
|
1.0
%
|
|
2018
|
2017
|
Stock Purchase Plan Options:
|
|
|
Expected
life (years)
|
1.0
|
1.0
|
Expected
volatility
|
66
%
|
51
%
|
Dividend
yield
|
0
%
|
0
%
|
Risk-free
interest rate
|
1.8
%
|
0.9
%
|
December
31, 2018
|
253,412
|
December
31, 2017
|
366,346
|
|
Options Outstanding
|
Options Exercisable
|
|||
Ranges of Exercise Prices
|
Number Outstanding
|
Weighted Average Remaining Contractual Life
|
Weighted Average Exercise Price Per Share
|
Number Exercisable
|
Weighted Average Exercise Price Per Share
|
$
1.18 - $2.04
|
179,620
|
7.73 years
|
$
1.77
|
60,105
|
$
1.40
|
$
2.05 - $3.09
|
144,125
|
3.43 years
|
2.52
|
144,125
|
2.52
|
$
4.02
|
49,182
|
1.4 years
|
4.02
|
49,182
|
4.02
|
|
372,927
|
5.23 years
|
$
2.36
|
253,412
|
$
2.55
|
|
Number of Shares
|
Weighted average
grant date fair value
|
Unvested
shares at January 1, 2017
|
204,875
|
$
2.16
|
Granted
|
203,424
|
1.12
|
Vested
|
(56,438
)
|
1.05
|
Forfeited
or surrendered
|
(29,382
)
|
2.01
|
Unvested
shares at December 31, 2017
|
322,479
|
$
1.69
|
Granted
|
343,667
|
1.86
|
Vested
|
(132,940
)
|
1.47
|
Forfeited
or surrendered
|
(39,884
)
|
1.22
|
Unvested
shares at December 31, 2018
|
493,322
|
$
1.90
|
Year Ended December 31
|
2018
|
2017
|
Current
taxes - Federal
|
$
177,000
|
$
(316,000
)
|
Current
taxes - State
|
48,000
|
6,000
|
Deferred
taxes - Federal
|
227,000
|
(23,000
)
|
Deferred
taxes - State
|
32,000
|
63,000
|
|
|
|
Income
tax expense (benefit)
|
$
484,000
|
$
(270,000
)
|
Year Ended December 31
|
2018
|
2017
|
Federal
statutory rate
|
21.0
%
|
(34.0
)%
|
|
|
|
Stock-based
awards
|
0.6
|
7.0
|
State
taxes
|
2.8
|
(1.5
)
|
Other
permanent differences
|
0.7
|
1.8
|
Impact
of uncertain tax positions
|
1.7
|
3.0
|
Valuation
allowance
|
(1.6
)
|
8.5
|
Tax
rate change
|
0.0
|
(14.7
)
|
Other
|
0.5
|
0.2
|
|
|
|
Effective
federal income tax rate
|
25.7
%
|
(29.7
)%
|
As of December 31
|
2018
|
2017
|
Deferred tax assets
|
|
|
Accrued
expenses
|
$
129,000
|
$
183,000
|
Inventory
reserve
|
3,000
|
42,000
|
Stock-based
awards
|
78,000
|
52,000
|
Reserve
for bad debts
|
5,000
|
50,000
|
Net
operating loss and credit carryforwards
|
39,000
|
61,000
|
Other
|
23,000
|
25,000
|
Valuation
allowance
|
(79,000
)
|
(108,000
)
|
|
|
|
Total
deferred tax assets
|
$
198,000
|
$
305,000
|
|
|
|
Deferred tax liabilities
|
|
|
Depreciation
|
$
(635,000
)
|
$
(465,000
)
|
Prepaid
expenses
|
(67,000
)
|
(85,000
)
|
|
|
|
Total
deferred tax liabilities
|
(702,000
)
|
(550,000
)
|
|
|
|
Net
deferred income tax liabilities
|
$
(504,000
)
|
$
(245,000
)
|
Balance
at January 1, 2017
|
$
554,000
|
Increases
due to interest
|
27,000
|
Balance
at December 31, 2017
|
581,000
|
Increases
due to interest and state tax
|
32,000
|
Balance
at December 31, 2018
|
$
613,000
|
Year Ended December 31, 2018
|
1st Quarter
|
2nd Quarter
|
3rd Quarter
|
4th Quarter
|
Net
sales
|
$
7,419,000
|
$
8,245,000
|
$
9,455,000
|
$
8,117,000
|
Gross
profit
|
2,746,000
|
3,005,000
|
3,563,000
|
3,247,000
|
Net
income
|
164,000
|
184,000
|
645,000
|
406,000
|
Net
income per share:
|
|
|
|
|
Basic
|
$
0.01
|
$
0.02
|
$
0.05
|
$
0.04
|
Diluted
|
$
0.01
|
$
0.02
|
$
0.05
|
$
0.04
|
Year Ended December 31, 2017
|
1st Quarter
|
2nd Quarter
|
3rd Quarter
|
4th Quarter
|
Net
sales
|
$
4,767,000
|
$
5,849,000
|
$
7,723,000
|
$
8,091,000
|
Gross
profit
|
629,000
|
1,498,000
|
2,743,000
|
3,531,000
|
Net
income (loss)
|
(1,191,000
)
|
(534,000
)
|
451,000
|
635,000
|
Net
income (loss) per share:
|
|
|
|
|
Basic
|
$
(0.10
)
|
$
(0.05
)
|
$
0.04
|
$
0.05
|
Diluted
|
$
(0.10
)
|
$
(0.05
)
|
$
0.04
|
$
0.05
|
Name
|
|
Age
|
|
Position
|
Kristine
A. Glancy
|
|
41
|
|
President,
Chief Executive Officer and Secretary
|
Jeffrey
A. Jagerson
|
|
52
|
|
Vice
President of Finance, Chief Financial Officer and
Treasurer
|
Exhibit
Number
|
|
Description
|
|
Incorporated by Reference To
|
|
|
|
|
|
|
Composite
Articles of Incorporation of Registrant, as amended through July
31, 2008
|
|
Exhibit
3.1 of the Registrant’s Annual Report on Form 10-K for the
year ended December 31, 2015
|
|
|
|
|
|
|
|
Composite
stated Bylaws of Registrant, as amended through December 5,
2015
|
|
Exhibit
3.2 of the Registrant’s Annual Report on Form 10-K for the
year ended December 31, 2015
|
|
|
|
|
|
|
*
10.1
|
|
2003
Incentive Stock Option Plan, as amended
|
|
Exhibit
10.1 of the Registrant’s Form 8-K filed December 2,
2016
|
|
|
|
|
|
*
10.2
|
|
Form of
Incentive Stock Option Agreement under 2003 Incentive Stock Option
Plan
|
|
Exhibit
10.1 of the Registrant’s Form 8-K filed January 16,
2013
|
|
|
|
|
|
*
10.3
|
|
2013
Omnibus Stock and Incentive Plan, as amended
|
|
Exhibit
10.2 of the Registrant’s Form 8-K filed December 2,
2016
|
|
|
|
|
|
*
10.4
|
|
Form of
Incentive Stock Option Agreement under 2013 Omnibus Stock and
Incentive Plan
|
|
Exhibit
10.1 of the Registrant’s Form 8-K filed August 23,
2013
|
|
|
|
|
|
*
10.5
|
|
Form of
Non-Qualified Stock Option Agreement for Non-Employee Directors
under 2013 Omnibus Stock and Incentive Plan
|
|
Exhibit
10.2 of the Registrant’s Form 8-K filed August 23,
2013
|
|
|
|
|
|
*
10.6
|
|
Form of
Stock Grant Agreement for Non-Employee Directors under 2013 Omnibus
Stock and Incentive Plan
|
|
Exhibit
10.1 of the Registrant’s Form 8-K filed December 16,
2013
|
|
|
|
|
|
*
10.7
|
|
Form of
Restricted Stock Unit Agreement for Employees under 2013 Omnibus
Stock and Incentive Plan
|
|
Exhibit
10.1 of the Registrant’s Form 8-K filed May 28,
2014
|
|
|
|
|
|
*
10.8
|
|
Form of
Restricted Stock Award Agreement for Employees under the 2013
Omnibus Stock and Incentive Plan
|
|
Exhibit
10.1 of the Registrant’s Form 10-Q for the quarterly period
ended September 30, 2017
|
|
|
|
|
|
Exhibit
Number
|
|
Description
|
|
Incorporated By
Reference To
|
*
10.9
|
|
2018
Equity Incentive Plan
|
|
Exhibit
99.1 of the Registrant’s Registration Statement on Form S-8,
Reg. No. 333-226670
|
|
|
|
|
|
*
10.10
|
|
Form of
Non-Qualified Stock Option Agreement under 2018 Equity Incentive
Plan
|
|
Exhibit
10.1 of the Registrant’s Form 8-K filed August 14,
2018
|
|
|
|
|
|
*
10.11
|
|
Form of
Restricted Stock Unit Agreement under 2018 Equity Incentive
Plan
|
|
Exhibit
10.2 of the Registrant’s Form 8-K filed August 14,
2018
|
|
|
|
|
|
*
10.12
|
|
Employee
Stock Purchase Plan, as amended
|
|
Exhibit
99.2 of the Registrant’s Registration Statement on Form S-8,
Reg. No. 333-226670
|
|
|
|
|
|
*10.13
|
|
Deferred
Compensation Plan for Directors
|
|
Exhibit
10.1 of the Registrant’s Form 10-Q for the quarterly period
ended March 31, 2018
|
|
|
|
|
|
*
10.14
|
|
Employment
Agreement with Kristine Glancy dated April 8, 2016
|
|
Exhibit
10.1 of the Registrant’s Form 8-K filed April 13,
2016
|
|
|
|
|
|
*
10.15
|
|
Change
in Control Severance Agreement with Kristine Glancy dated April 8,
2016
|
|
Exhibit
10.2 of the Registrant’s Form 8-K filed April 13,
2016
|
|
|
|
|
|
*
10.16
|
|
Employment
Agreement with Jeffrey Jagerson dated July 17, 2017
|
|
Exhibit
10.1 of the Registrant’s Form 8-K filed June 30,
2017
|
|
|
|
|
|
*
10.17
|
|
Change
in Control Agreement with Jeffrey Jagerson dated July 17,
2017
|
|
Exhibit
10.2 of the Registrant’s Form 8-K filed June 30,
2017
|
|
|
|
|
|
|
Industrial/Warehouse
Lease Agreement with James Campbell Company LLC dated September 14,
2015
|
|
Exhibit
10.1 of the Registrant’s Form 10-Q for the quarterly period
ended September 30, 2015
|
|
|
|
|
|
|
^
10.19
|
|
Exclusive
Agreement for Sale and Implementation of Specified Signs with Price
approved June 6, 2011
|
|
Exhibit
10.2 of the Registrant’s Form 10-Q for the quarterly period
ended June 30, 2011
|
|
|
|
|
|
^
10.20
|
|
Settlement
Agreement and Release with News America Marketing In-Store, LLC,
dated February 9, 2011, including exhibits
|
|
Exhibit
10.1 of the Registrant’s Form 10-Q/A for the quarterly period
ended March 31, 2011
|
|
|
|
|
|
^
10.21
|
|
Retail
Access and Distribution Agreement with Valassis Sales and Marketing
Services, Inc. dated February 21, 2014
|
|
Exhibit
10.1 of the Registrant’s Form 10-Q for the quarterly period
ended March 31, 2014
|
|
|
|
|
|
|
Registration
and Standstill Agreement with Sardar Biglari, The Lion Fund II,
L.P. and Biglari Capital Corp. dated November 9, 2017
|
|
Exhibit
10.1 of the Registrant’s Form 8-K dated November 13,
2017
|
|
|
|
|
|
|
|
Cooperation
Agreement with Nick Swenson, Air T, and Groveland Capital LLC,
dated May 17, 2018
|
|
Exhibit
10.1 of the Registrant’s Form 8-K filed May 18,
2018
|
|
|
|
|
|
|
+
23.1
|
|
Consent
of Independent Registered Public Accounting Firm
|
|
|
|
|
|
|
|
+
24.1
|
|
Powers
of Attorney
|
|
|
|
|
|
|
|
+
31.1
|
|
Certification
of Principal Executive Officer pursuant to Section 302 of the
Sarbanes Oxley Act of 2002
|
|
|
|
|
|
|
|
+
31.2
|
|
Certification
of Principal Financial Officer pursuant to Section 302 of the
Sarbanes Oxley Act of 2002
|
|
|
|
|
|
|
|
++
32
|
|
Section
1350 Certifications
|
|
|
|
|
|
|
|
+101.1
|
|
The
following materials from Insignia Systems, Inc.’s Annual
Report on Form 10-K for the year ending December 31, 2018 are filed
herewith, formatted in XBRL (Extensible Business
Reporting
Language):
(i) Balance Sheets, (ii) Statements of Operations, (iii) Statements
of Shareholders’ Equity (iv) Statements of Cash Flows, and
(v) Notes to Financial Statements
|
|
|
|
Insignia Systems,
Inc.
|
|
|
|
|
|
|
Dated: March 7,
2019
|
By:
|
/s/
Kristine A.
Glancy
|
|
|
|
Kristine A. Glancy |
|
|
|
President and Chief Executive Officer |
|
|
|
|
|
|
Signature
|
|
Title
|
|
Date
|
|
|
|
|
|
/s/
Kristine A. Glancy
|
|
President,
Chief Executive Officer, Secretary and Director
|
|
March
7, 2019
|
Kristine A.
Glancy
|
|
(principal
executive officer)
|
|
|
|
|
|
|
|
/s/
Jeffrey A. Jagerson
|
|
Vice
President of Finance, Chief Financial Officer and
Treasurer
|
|
March
7, 2019
|
Jeffrey A.
Jagerson
|
|
(principal
financial and accounting officer)
|
|
|
|
|
|
|
|
*
|
|
Chairman
of the Board, Director
|
|
March
7, 2019
|
Jacob J.
Berning
|
|
|
|
|
|
|
|
|
|
*
|
|
Director
|
|
March
7, 2019
|
Suzanne
L. Clarridge
|
|
|
|
|
|
|
|
|
|
*
|
|
Director
|
|
March
7, 2019
|
Loren
A. Unterseher
|
|
|
|
|
|
|
|
|
|
*
|
|
Director
|
|
March
7, 2019
|
Rachael
B. Vegas
|
|
|
|
|
|
|
|
|
|
*
|
|
Director
|
|
March
7, 2019
|
Steven
R. Zenz
|
|
|
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/
Kristine A.
Glancy
|
|
|
|
Kristine A. Glancy |
|
|
|
|
|
1 Year Insignia Systems Chart |
1 Month Insignia Systems Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions