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Name | Symbol | Market | Type |
---|---|---|---|
Rekor Systems Inc (QB) | USOTC:REKRW | OTCMarkets | Equity Warrant |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.695 | 0.695 | 5.00 | 0.00 | 01:00:00 |
|
|
|
|
Delaware
|
|
81-5266334
|
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer Identification No.)
|
|
|
|
|
|
7172 Columbia Gateway Drive, Suite 400
Columbia, MD
|
|
21046
|
|
(Address of Principal Executive Offices)
|
|
(Zip Code)
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common
Stock, $0.0001 par value per share
|
REKR
|
The
Nasdaq Stock Market
|
Large
accelerated filer ☐
|
Accelerated
filer ☐
|
|
Non-accelerated
filer ☒
|
|
Smaller
reporting company ☒
Emerging
growth company ☐
|
|
|
PAGE
|
PART I
|
|
|
|
|
|
PART II
|
|
|
PART
III
|
|
|
Part
IV
|
|
|
|
|
|
|
Year
ended December 31,
|
Change
|
||
(dollars
in thousands)
|
2019
|
2018
|
$
|
%
|
Revenue:
|
|
|
|
|
Technology
|
$5,469
|
$3,522
|
$1,947
|
55%
|
Professional
Services
|
13,851
|
16,532
|
(2,681)
|
-16%
|
Total
revenue from continuing operations
|
$19,320
|
$20,054
|
$(734)
|
-4%
|
|
Year
ended December 31,
|
Change
|
||
(dollars
in thousands)
|
2019
|
2018
|
$ or %
Points
|
%
|
Cost
of revenue:
|
|
|
|
|
Technology
|
$1,652
|
$1,642
|
$10
|
1%
|
Professional
Services
|
7,406
|
8,336
|
(930)
|
-11%
|
Total
cost of revenue
|
9,058
|
9,978
|
(920)
|
-9%
|
Gross
profit:
|
|
|
|
|
Technology
|
3,817
|
1,880
|
1,937
|
103%
|
Professional
Services
|
6,445
|
8,196
|
(1,751)
|
-21%
|
Gross
profit
|
$10,262
|
$10,076
|
$186
|
2%
|
Gross
margin:
|
|
|
|
|
Technology
|
70%
|
53%
|
17%
|
32%
|
Professional
Services
|
47%
|
50%
|
-3%
|
-6%
|
Gross
margin
|
53%
|
50%
|
3%
|
6%
|
|
Year ended December 31,
|
Change
|
||
(dollars
in thousands)
|
2019
|
2018
|
$
|
%
|
Operating
expenses:
|
|
|
|
|
General
and administrative expenses
|
$14,151
|
$13,310
|
$841
|
6%
|
Selling
and marketing expenses
|
2,222
|
1,758
|
464
|
26%
|
Research
and development expenses
|
1,429
|
131
|
1,298
|
991%
|
Impairment
of intangibles
|
1,549
|
-
|
1,549
|
-
|
Operating
expenses
|
$19,351
|
$15,199
|
$4,152
|
27%
|
|
Year
ended December 31,
|
Change
|
||
(dollars
in thousands)
|
2019
|
2018
|
$
|
%
|
Other
expense:
|
|
|
|
|
Loss
on extinguishment of debt
|
$(1,158)
|
$-
|
$(1,158)
|
-
|
Interest
expense
|
(4,098)
|
(492)
|
(3,606)
|
-733%
|
Other
expense
|
(20)
|
(65)
|
45
|
69%
|
Total
other expense
|
$(5,276)
|
$(557)
|
$(4,719)
|
847%
|
|
Year
ended December 31,
|
Change
|
||
|
2019
|
2018
|
$
|
%
|
Per-forma
Technology Segment Revenue
|
|
|
|
|
Automated
traffic safety enforcement
|
$3,403
|
$3,413
|
$(10)
|
0%
|
Licensing
and subscription revenue
|
2,066
|
-
|
2,066
|
100%
|
Other
|
-
|
109
|
(109)
|
-100%
|
Per-forma
Technology Segment Revenue
|
$5,469
|
$3,522
|
$1,947
|
55%
|
|
|
|
|
|
Pro-forma
Technology Segment Revenue
|
|
|
|
|
Automated
traffic safety enforcement
|
$3,403
|
$3,413
|
$(10)
|
0%
|
Licensing
and subscription revenue
|
3,035
|
1,713
|
1,322
|
78%
|
Other
|
-
|
109
|
(109)
|
-100%
|
Pro-forma
Technology Segment Revenue
|
$6,438
|
$5,235
|
$1,203
|
23.0%
|
Financing:
|
|
Notes
payable, includes exit fee
|
$21,000
|
Debt
discount financing costs
|
(2,599)
|
Extinguishment
of debt
|
(1,113)
|
Repayment
of notes payable and interest expense, net of debt
discount
|
(2,515)
|
Investment
in OpenALPR Technology, includes $7,000,000 cash paid and
$5,000,000 note assumed by seller
|
(12,000)
|
Issuance
of warrants in conjunction with notes payable
|
706
|
Accounts
Payable
|
360
|
Net
cash proceeds from notes payable
|
$3,839
|
Reports
of Independent Registered Public Accounting
Firms
|
27
|
||||||||||
Consolidated
Balance Sheets as of December 31, 2019 and 2018
|
29
|
||||||||||
Consolidated
Statements of Operations for the Years Ended December 31, 2019
and 2018
|
30
|
||||||||||
Consolidated
Statements of Changes in Stockholders' Equity for the Years Ended
December 31, 2019 and 2018
|
31
|
||||||||||
Consolidated
Statements of Cash Flows for the Years Ended December 31, 2019 and
2018
|
32
|
||||||||||
Notes
to Consolidated Financial Statements
|
33
|
|
December
31, 2019
|
December
31, 2018
|
ASSETS
|
|
|
Current Assets
|
|
|
Cash
and cash equivalents
|
$1,180
|
$2,069
|
Restricted
cash and cash equivalents
|
461
|
609
|
Accounts
receivable, net
|
4,831
|
2,976
|
Inventory
|
302
|
73
|
Other
current assets, net
|
230
|
167
|
Current
assets held for sale
|
3,226
|
2,636
|
Total current assets
|
10,230
|
8,530
|
Property
and equipment, net
|
483
|
462
|
Right-of-use
lease assets, net
|
782
|
-
|
Goodwill
|
6,336
|
1,402
|
Intangible
assets, net
|
8,244
|
3,456
|
Deposits
and other long-term assets
|
11
|
51
|
Long-term
assets held for sale
|
2,906
|
4,154
|
Total assets
|
$28,992
|
$18,055
|
LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY
|
|
|
Current Liabilities
|
|
|
Accounts
payable and accrued expenses
|
$4,971
|
$3,437
|
Short-term
borrowings
|
1,894
|
566
|
Notes
payable, current portion
|
-
|
2,469
|
Lease
liability, short-term
|
302
|
-
|
Contract
liabilities
|
749
|
207
|
Current
liabilities held for sale
|
2,416
|
1,895
|
Total current liabilities
|
10,332
|
8,574
|
Notes
payable
|
20,409
|
875
|
Lease
liability, long-term
|
667
|
-
|
Deferred
rent
|
-
|
8
|
Contract
liabilities, long-term
|
775
|
-
|
Deferred
tax liability
|
10
|
-
|
Long
term liabilities held for sale
|
30
|
90
|
Total liabilities
|
32,223
|
9,547
|
Series
A Cumulative Convertible Redeemable Preferred stock, $0.0001 par
value, 505,000 shares authorized and 502,327 shares issued and
outstanding as of December 31, 2019 and December 31, 2018,
respectively
|
5,804
|
5,052
|
Commitments and Contingencies
|
|
|
Stockholders' (Deficit) Equity
|
|
|
Common stock,
$0.0001 par value, 30,000,000 shares authorized, 21,595,653 and
18,767,619 shares issued and outstanding as of December 31, 2019
and December 31, 2018, respectively
|
2
|
2
|
Preferred
stock, $0.0001 par value, 2,000,000 authorized, 505,000 shares
designated as Series A and 240,861 shares designated as Series B as
of December 31, 2019 and December 31, 2018,
respectively
|
-
|
-
|
Series
B Cumulative Convertible Preferred stock, $0.0001 par value,
240,861 shares authorized, issued and outstanding as of December
31, 2019 and December 31, 2018, respectively
|
-
|
-
|
Additional
paid-in capital
|
19,371
|
15,518
|
Accumulated
deficit
|
(28,408)
|
(12,064)
|
Total stockholders’ (deficit) equity
|
(9,035)
|
3,456
|
Total liabilities and stockholders’ (deficit)
equity
|
$28,992
|
$18,055
|
|
Year
ended December 31,
|
|
|
2019
|
2018
|
Revenue:
|
|
|
Technology
|
$5,469
|
$3,522
|
Professional
Services
|
13,851
|
16,532
|
Total
revenue
|
19,320
|
20,054
|
|
|
|
Cost
of revenue:
|
|
|
Technology
|
1,652
|
1,642
|
Professional
Services
|
7,406
|
8,336
|
Total
cost of revenue
|
9,058
|
9,978
|
|
|
|
Gross
profit:
|
|
|
Technology
|
3,817
|
1,880
|
Professional
Services
|
6,445
|
8,196
|
Gross
profit
|
10,262
|
10,076
|
|
|
|
Operating
expenses:
|
|
|
General
and administrative expenses
|
14,151
|
13,310
|
Selling
and marketing expenses
|
2,222
|
1,758
|
Research
and development expenses
|
1,429
|
131
|
Impairment
of intangibles
|
1,549
|
-
|
Operating
expenses
|
19,351
|
15,199
|
|
|
|
Loss
from operations
|
(9,089)
|
(5,123)
|
Other
income (expense):
|
|
|
Loss
on extinguishment of debt
|
(1,158)
|
-
|
Interest
expense
|
(4,098)
|
(492)
|
Other
expense
|
(20)
|
(65)
|
Total
other expense
|
(5,276)
|
(557)
|
Loss
before income taxes
|
(14,365)
|
(5,680)
|
Income
tax provision
|
(47)
|
(29)
|
Net
loss from continuing operations
|
$(14,412)
|
$(5,709)
|
Income
(loss) from operations held for sale (including goodwill impairment
of $1,022,000 in 2019)
|
(1,472)
|
6
|
Income
tax provision from operations held for sale
|
-
|
-
|
Net
income (loss) from operations held for sale
|
(1,472)
|
6
|
Net
loss
|
$(15,884)
|
$(5,703)
|
Loss
per common share from continuing operations - basic and
diluted
|
(0.78)
|
(0.44)
|
Income
(loss) per common share from operations held for sale - basic and
diluted
|
(0.07)
|
-
|
Loss
per common share - basic and diluted
|
$(0.85)
|
$(0.44)
|
|
|
|
Weighted
average shares outstanding
|
|
|
Basic
and diluted
|
20,033,023
|
15,409,014
|
|
Shares of Common Stock
|
Common Stock
|
Shares of Series B Preferred Stock
|
Series B Preferred Stock
|
Additional Paid-In Capital
|
Accumulated Deficit
|
Total Stockholders’ Equity (Deficit)
|
Balance as of December 31, 2017
|
14,463,364
|
$1
|
240,861
|
$-
|
$12,343
|
$(5,834)
|
$6,510
|
Cumulative
effect adjustment of adopting ASU 2014-09
|
-
|
-
|
-
|
-
|
-
|
(67)
|
(67)
|
Balance as of January 1, 2018
|
14,463,364
|
1
|
240,861
|
-
|
12,343
|
(5,901)
|
6,443
|
Stock-based
compensation
|
-
|
-
|
-
|
-
|
465
|
-
|
465
|
Issuance of
warrants
|
-
|
-
|
-
|
-
|
123
|
-
|
123
|
Issues of
common stock, net of costs
|
4,125,000
|
1
|
-
|
-
|
2,796
|
-
|
2,797
|
Issuance of
common stock for the extinguishment of warrants
|
96,924
|
-
|
-
|
-
|
134
|
-
|
134
|
Net common
stock issued in Secure Education Consultants
acquisition
|
33,333
|
-
|
-
|
-
|
163
|
-
|
163
|
Issuance
related to note payable
|
35,000
|
-
|
-
|
-
|
126
|
-
|
126
|
Issuance upon
exercise of stock options
|
13,998
|
-
|
-
|
-
|
23
|
-
|
23
|
Preferred
stock dividends
|
-
|
-
|
-
|
-
|
-
|
(460)
|
(460)
|
Accretion of
Series A preferred stock
|
-
|
-
|
-
|
-
|
(655)
|
-
|
(655)
|
Net
loss
|
-
|
-
|
-
|
-
|
-
|
(5,703)
|
(5,703)
|
Balance as of December 31, 2018
|
18,767,619
|
2
|
240,861
|
-
|
15,518
|
(12,064)
|
3,456
|
Stock-based
compensation
|
-
|
-
|
-
|
-
|
446
|
-
|
446
|
Issuance of
warrants in conjunction with notes payable
|
-
|
-
|
-
|
-
|
706
|
-
|
706
|
Exercise of
cashless warrants in exchange for common stock
|
815,290
|
-
|
-
|
-
|
-
|
-
|
-
|
Exercise of
warrants in exchange for common stock
|
116,376
|
-
|
-
|
-
|
103
|
-
|
103
|
Common stock
issued in OpenALPR acquisition
|
600,000
|
-
|
-
|
-
|
397
|
-
|
397
|
Issuance of
common stock pursuant to at the market offering,
net
|
1,292,730
|
-
|
-
|
-
|
2,949
|
-
|
2,949
|
Exercise of
warrants related to series A preferred stock
|
3,638
|
-
|
-
|
-
|
4
|
-
|
4
|
Preferred
stock dividends
|
-
|
-
|
-
|
-
|
-
|
(460)
|
(460)
|
Accretion of
Series A preferred stock
|
-
|
-
|
-
|
-
|
(752)
|
-
|
(752)
|
Net
loss
|
-
|
-
|
-
|
-
|
-
|
(15,884)
|
(15,884)
|
Balance as of December 31, 2019
|
21,595,653
|
$2
|
240,861
|
$-
|
$19,371
|
$(28,408)
|
$(9,035)
|
|
Year
Ended December 31,
|
|
|
2019
|
2018
|
Cash Flows from Operating Activities
|
|
|
Net
loss from continuing operations
|
$(14,412)
|
$(5,709)
|
Net
income (loss) from operations held for sale
|
(1,472)
|
6
|
Net
loss
|
(15,884)
|
(5,703)
|
Adjustments
to reconcile net loss to net cash used in operating
activities:
|
|
|
Depreciation
|
348
|
309
|
Amortization
of right-of-use lease asset
|
211
|
-
|
Share-based
compensation
|
446
|
465
|
Amortization
of financing costs
|
1,101
|
94
|
Warrant
expense
|
-
|
134
|
Deferred
rent
|
-
|
(11)
|
Change
in fair value of derivative liability
|
-
|
(78)
|
Amortization
of intangible assets
|
1,308
|
738
|
Impairment
of intangible assets
|
1,549
|
-
|
Impairment
of investment
|
-
|
262
|
Allowance
for other receivables
|
-
|
135
|
Loss
on extinguishment of debt
|
1,158
|
-
|
Loss
on abandonment of lease
|
70
|
-
|
Provision
for deferred taxes
|
10
|
-
|
Loss
on sale of Secure Education Consultants
|
3
|
-
|
Changes
in operating assets and liabilities:
|
|
|
Accounts
receivable
|
(5,101)
|
733
|
Inventory
|
(229)
|
83
|
Deposits
and other long-term assets
|
40
|
(16)
|
Other
current assets, net
|
(50)
|
52
|
Accounts
payable and accrued expenses
|
954
|
(289)
|
Contract
liabilities
|
929
|
22
|
Lease
liability
|
(102)
|
-
|
Net
cash used in operating activities - continuing
operations
|
(11,767)
|
(3,076)
|
Net
cash (used in) provided by operating activities - held for sale
operations
|
(9,565)
|
1,025
|
Net
cash used in operating activities
|
(21,332)
|
(2,051)
|
Cash Flows from Investing Activities
|
|
|
Proceeds
from sale of note receivable
|
-
|
1,475
|
Proceeds
from sale of Secure Education Consultants
|
250
|
-
|
Capital
expenditures
|
(806)
|
(1,003)
|
Net
cash (used in) provided by investing activities - continuing
operations
|
(556)
|
472
|
Net
cash used in investing activities - held for sale
operations
|
(7)
|
(77)
|
Net
cash (used in) provided by investing activities
|
(563)
|
395
|
Cash Flows from Financing Activities
|
|
|
Proceeds
from short-term borrowings
|
5,463
|
41,168
|
Repayments
of short-term borrowings
|
(611)
|
(43,171)
|
Net
proceeds from notes payable
|
3,839
|
2,000
|
Net
proceeds from exercise of options
|
-
|
23
|
Net
proceeds from exercise of warrants
|
103
|
-
|
Net
proceeds from exercise of warrants associated to series A preferred
stock
|
4
|
-
|
Net
proceeds from issuance of common stock
|
-
|
2,797
|
Net
proceeds from at-the-market agreement
|
2,949
|
-
|
Payment
of preferred dividends
|
(108)
|
(345)
|
Payment
of financing costs
|
-
|
(63)
|
Net
cash provided by financing activities - continuing
operations
|
11,639
|
2,409
|
Net
cash provided by financing activities - held for sale
operations
|
9,354
|
58
|
Net
cash provided by financing activities
|
20,993
|
2,467
|
Net
decrease in cash, cash equivalents and restricted cash and cash
equivalents - continuing operations
|
(684)
|
(195)
|
Net
increase in cash, cash equivalents and restricted cash and cash
equivalents - held for sale operations
|
(218)
|
1,006
|
Net
(decrease) increase in cash, cash equivalents and restricted cash
and cash equivalents
|
(902)
|
811
|
Cash,
cash equivalents and restricted cash and cash equivalents at
beginning of period
|
2,768
|
1,957
|
Cash,
cash equivalents and restricted cash and cash equivalents at end of
period
|
$1,866
|
$2,768
|
|
|
|
Reconciliation of cash, cash equivalents and restricted
cash:
|
|
|
Cash
and cash equivalents at end of period - continuing
operations
|
$1,180
|
$2,069
|
Restricted
cash and cash equivalents at end of period - continuing
operations
|
461
|
609
|
Cash
and cash equivalents at end of period - held for sale
operations
|
225
|
90
|
Cash,
cash equivalents and restricted cash at end of period
|
$1,866
|
$2,768
|
Class of assets
|
Useful life
|
Furniture and fixtures
|
2 - 10 years
|
Office equipment
|
2 - 5 years
|
Leasehold improvements
|
Shorter of asset life or lease term
|
Automobiles
|
3 - 5 years
|
Camera systems
|
3 years
|
2020
|
$774
|
2021
|
243
|
2022
|
219
|
2023
|
191
|
2024
|
97
|
Total
|
$1,524
|
Cash
paid
|
$100
|
Common
stock issued
|
163
|
Warrants
issued, at $5.44
|
66
|
Warrants
issued, at $6.53
|
57
|
Total
consideration
|
386
|
Less
intangible and intellectual property
|
(386)
|
Net
goodwill recorded
|
$-
|
Accounts
receivable, net
|
$381
|
Other current
assets, net
|
13
|
Property and
equipment, net
|
21
|
Contract
liabilities
|
(388)
|
Net assets
acquired
|
27
|
Less intangible
assets
|
7,436
|
Consideration
paid
|
(12,397)
|
Net goodwill
recorded
|
$4,934
|
|
|
Cash
consideration
|
$7,000
|
Note
payable
|
5,000
|
Common stock
consideration
|
397
|
Total acquisition
consideration
|
$12,397
|
|
Year
Ended December 31,
|
|
|
2019
|
2018
|
Cash
paid for interest - continuing operations
|
$2,331
|
$362
|
Cash
paid for interest - held for sale operations
|
325
|
117
|
Cash
paid for taxes - continuing operations
|
-
|
-
|
Cash
paid for taxes - held for sale operations
|
12
|
14
|
Notes
payable for equipment purchase - held for sale
operations
|
-
|
32
|
Proceeds
from short-term borrowing arrangement transfer to settle line of
credit
|
312
|
-
|
Issuance
of common stock for the extinguishment of warrants
|
-
|
134
|
Common
stock issued in connection with note payable
|
-
|
126
|
Business
combinations, net of cash:
|
|
|
Current
assets
|
415
|
-
|
Intangible
assets
|
7,436
|
386
|
Goodwill
|
4,934
|
-
|
Current
liabilities
|
(388)
|
-
|
Cash
paid acquisition of OpenALPR Technology
|
(7,000)
|
-
|
Note
issued acquisition of OpenALPR Technology
|
(5,000)
|
|
Issuance
of common stock
|
(397)
|
(163)
|
Issuance
of common stock warrants
|
-
|
(123)
|
Sale
of Secure Education Consultants:
|
|
|
Current
assets
|
(58)
|
-
|
Intangible
assets sold
|
(249)
|
-
|
Current
liabilities
|
54
|
-
|
Loss
on sale
|
3
|
-
|
Financing:
|
|
|
Notes
payable - continuing operations
|
21,000
|
-
|
Debt
discount financing costs
|
(2,599)
|
-
|
Extinguishment
of debt
|
(1,113)
|
-
|
Repayment
of notes payable and interest expense, net of debt
discount
|
(2,515)
|
-
|
Investment
in OpenALPR Technology
|
(12,000)
|
-
|
Issuance
of warrants in conjunction with notes payable
|
706
|
-
|
Accounts
Payable
|
360
|
-
|
Proceeds
from notes payable
|
3,839
|
-
|
Adoption
of ASC-842 Lease Accounting:
|
|
|
Right-of-use
lease asset
|
1,286
|
-
|
Deferred
rent
|
31
|
-
|
Lease
liability
|
$(1,317)
|
$-
|
|
December
31,
|
|
|
2019
|
2018
|
Furniture
and fixtures
|
$62
|
$158
|
Office
equipment
|
300
|
545
|
Camera
systems
|
772
|
635
|
Vehicles
|
36
|
36
|
Leasehold
improvements
|
120
|
16
|
Total
|
1,290
|
1,390
|
Less:
accumulated depreciation and amortization
|
(807)
|
(928)
|
Property
and equipment, net from continuing operations
|
483
|
462
|
Property
and equipment, net from operation held for sale
|
113
|
176
|
Property
and equipment, net
|
$596
|
$638
|
Operating
lease right-of-use lease assets from continuing
operations
|
$782
|
Operating
lease right-of-use lease assets from operations held for
sale
|
130
|
Total
operating lease right-of-use assets
|
$912
|
|
|
Lease
liability, short-term
|
$302
|
Lease
liability, long-term
|
667
|
Lease
liability from operations held for sale
|
143
|
Total
operating lease liabilities
|
$1,112
|
|
|
Weighted
Average Remaining Lease Term - operating leases from continuing
operations
|
3.4
|
|
|
Weighted
Average Discount Rate - operating leases
|
9%
|
2020
|
$498
|
2021
|
337
|
2022
|
177
|
2023
|
178
|
2024
|
100
|
Total
lease payments
|
1,290
|
Less
imputed interest
|
(178)
|
Maturities
of lease liabilities
|
$1,112
|
|
Segment
|
December 31, 2018
|
OpenALPR
Technology Acquisition
|
Impairment
|
December 31, 2019
|
Goodwill
from continuing operations
|
Technology
|
$1,402
|
$4,934
|
$-
|
$6,336
|
Goodwill
from held for sale operations
|
Professional
Services
|
1,691
|
-
|
(1,022)
|
669
|
Total
goodwill
|
|
$3,093
|
$4,934
|
$(1,022)
|
$7,005
|
|
December 31, 2018
|
Additions
|
Amortization
|
Impairment
|
Sale of Secure Education Consultants
|
December 31, 2019
|
Intangible
assets subject to amortization from continuing
operations
|
|
|
|
|
|
|
Customer
relationships
|
$2,475
|
$90
|
$(371)
|
$(1,549)
|
$(249)
|
$396
|
Marketing
related
|
69
|
223
|
(62)
|
-
|
-
|
230
|
Technology
based
|
83
|
7,123
|
(811)
|
-
|
-
|
6,395
|
Internally
developed capitalized software
|
829
|
458
|
(64)
|
-
|
-
|
1,223
|
Intangible
assets subject to amortization from continuing
operations
|
3,456
|
7,894
|
(1,308)
|
(1,549)
|
(249)
|
8,244
|
Intangible
assets subject to amortization from held for sale
operations
|
2,208
|
-
|
(214)
|
-
|
-
|
1,994
|
Total
intangible assets subject to amortization
|
$5,664
|
$7,894
|
$(1,522)
|
$(1,549)
|
$(249)
|
$10,238
|
|
Customer
Relationships
|
Marketing
Related
|
Technology
Based
|
Internally
Developed Capitalized Software
|
Total
|
Identifiable
intangible assets
|
$461
|
$327
|
$7,206
|
$1,290
|
$9,284
|
Accumulated
amortization
|
(65)
|
(97)
|
(811)
|
(67)
|
(1,040)
|
Identifiable
intangible assets from continuing operations, net
|
396
|
230
|
6,395
|
1,223
|
8,244
|
Identifiable
intangible assets from operations held for sale, net
|
1,685
|
309
|
-
|
-
|
1,994
|
Identifiable
intangible assets, net
|
$2,081
|
$539
|
$6,395
|
$1,223
|
$10,238
|
2020
|
$1,265
|
2021
|
1,254
|
2022
|
1,173
|
2023
|
1,096
|
2024
|
1,060
|
Thereafter
|
1,450
|
Capitalized
software not yet placed in service
|
946
|
Total
|
$8,244
|
2020
|
$-
|
2021
|
21,000
|
2022
|
1,000
|
2023
|
-
|
2024
|
-
|
Thereafter
|
-
|
Total
|
22,000
|
|
|
Less
unamortized interest
|
(39)
|
Less
unamortized financing costs
|
(1,552)
|
Notes
payable
|
$20,409
|
|
Year
Ended December 31,
|
|
|
2019
|
2018
|
Current:
|
|
|
State
|
$37
|
$29
|
Deferred:
|
|
|
Federal
|
10
|
83
|
State
|
-
|
(83)
|
Expense
from income taxes
|
$47
|
$29
|
|
Number of Shares
Subject to Option
|
Weighted Average
Exercise Price
|
Weighted Average
Remaining Contractual Term (Years)
|
Aggregate
Intrinsic Value
|
Outstanding
Balance at January 1, 2018
|
1,695,375
|
$2.19
|
9.26
|
|
Granted
|
48,499
|
0.73
|
9.85
|
|
Exercised
|
(13,998)
|
1.68
|
9.50
|
|
Forfeited
|
(450,633)
|
1.82
|
-
|
|
Expired
|
(51,686)
|
1.36
|
-
|
|
Outstanding
Balance at December 31, 2018
|
1,227,557
|
2.13
|
8.39
|
-
|
Granted
|
870,549
|
1.03
|
8.76
|
|
Forfeited
|
(111,537)
|
1.95
|
-
|
|
Canceled
|
(331,186)
|
2.05
|
-
|
|
Outstanding
Balance at December 31, 2019
|
1,655,383
|
$1.68
|
8.33
|
$3,256
|
Exercisable
at December 31, 2019
|
999,831
|
$1.84
|
6.66
|
$1,684
|
|
Year Ended December
31, 2019
|
|
|
2019
|
2018
|
Basic and diluted
loss per share
|
|
|
Net
loss from continuing operations
|
$(14,412)
|
$(5,709)
|
Less:
preferred stock accretion
|
(752)
|
(655)
|
Less:
preferred stock dividends
|
(460)
|
(460)
|
Net
loss attributable to shareholders from continuing
operations
|
(15,624)
|
(6,824)
|
Net income (loss)
from operations held for sale
|
(1,472)
|
6
|
Net loss
attributable to shareholders
|
$(17,096)
|
$(6,818)
|
Weighted
average common shares outstanding - basic and diluted
|
20,033,023
|
15,409,014
|
Basic
and diluted loss per share from continuing operations
|
$(0.78)
|
$(0.44)
|
Basic
and diluted (loss) earnings per share from operations held for
sale
|
(0.07)
|
-
|
Basic and diluted
loss per share
|
$(0.85)
|
$(0.44)
|
Common stock
equivalents excluded due to anti-dilutive effect
|
5,602,841
|
3,898,257
|
|
Technology
|
Professional Services
|
Corporate Services
|
Elimination
|
Consolidated
|
Year Ended December 31, 2019
|
|
|
|
|
|
Revenues
|
$5,469
|
$13,874
|
$-
|
$(23)
|
$19,320
|
Gross
profit
|
3,817
|
6,468
|
-
|
(23)
|
10,262
|
Loss
from operations*
|
(2,259)
|
(1,560)
|
(5,293)
|
23
|
(9,089)
|
Loss
from operations held for sale (including impairment of goodwill of
$1,022,000)
|
-
|
(1,146)
|
-
|
-
|
(1,146)
|
*
Including intangible assets impairment
|
-
|
1,549
|
-
|
-
|
1,549
|
|
|
|
|
|
|
Year Ended December 31, 2018
|
|
|
|
|
|
Revenues
|
$3,522
|
$16,532
|
$-
|
$-
|
$20,054
|
Gross
profit
|
1,880
|
8,196
|
-
|
-
|
10,076
|
Loss
from operations
|
(832)
|
(381)
|
(3,910)
|
-
|
(5,123)
|
Income
from operations held for sale
|
-
|
86
|
-
|
-
|
86
|
|
December
31,
|
|
|
2019
|
2018
|
United
States
|
$1,220
|
$1,320
|
Canada
|
70
|
70
|
Accumulated
Depreciation
|
(807)
|
(928)
|
Total
property and equipment, net
|
$483
|
$462
|
|
December
31,
|
|
|
2019
|
2018
|
Technology
|
$14,875
|
$3,122
|
Professional
Services
|
540
|
2,195
|
Corporate
|
430
|
3
|
Consolidated
|
$15,845
|
$5,320
|
|
Year ended
December 31,
|
|
|
2019
|
2018
|
Technology
|
$12,998
|
$1,013
|
Professional
Services
|
701
|
376
|
Corporate
|
564
|
-
|
Consolidated
|
$14,263
|
$1,389
|
|
Year ended
December 31,
|
|
|
2019
|
2018
|
Technology
|
$1,245
|
$322
|
Professional
Services
|
485
|
725
|
Corporate
|
137
|
-
|
Consolidated
|
$1,867
|
$1,047
|
Name
|
|
Age
|
|
Position
|
Executive Officers:
|
|
|
|
|
Robert A. Berman
|
|
60
|
|
President and Chief Executive Officer and
Director
|
Eyal Hen
|
|
47
|
|
Chief Financial Officer
|
Riaz Latifullah
|
|
63
|
|
Executive Vice President, Corporate Development
|
|
|
|
|
|
Directors:
|
|
|
|
|
James K. McCarthy
|
|
68
|
|
Chairman of the Board and Strategic Advisor
|
Paul A. de Bary
|
|
73
|
|
Lead Director
|
Glenn Goord
|
|
68
|
|
Director
|
David Hanlon
|
|
75
|
|
Director
|
Christine J. Harada
|
|
47
|
|
Director
|
Richard Nathan, Ph. D.
|
|
75
|
|
Director
|
Steven D. Croxton
|
|
57
|
|
Director
|
Name
|
|
Audit Committee
|
|
Compensation Committee
|
|
Corporate Governance Committee
|
|
|
|
|
|
|
|
Paul A. de Bary - (Independent)
|
|
Chair
|
|
-
|
|
Member
|
Glenn Goord - (Independent)
|
|
Member
|
|
Chair
|
|
-
|
David Hanlon - (Independent)
|
|
-
|
|
Member
|
|
Member
|
Christine J. Harada - (Independent)
|
|
Member
|
|
Member
|
|
Chair
|
Steven D. Croxton - (Independent)
|
|
Member
|
|
Member
|
|
-
|
Name/Capacities in which compensation was
received
|
Year
|
Base Salary
|
|
Bonus
|
Equity incentive awards
|
|
All other compensation
|
|
Total
|
Robert
Berman
|
2019
|
$453,205
|
(1)
|
$-
|
$46,605
|
(2)
|
$18,194
|
(3)
|
$518,004
|
Chief
Executive Officer
|
2018
|
395,000
|
|
-
|
-
|
|
-
|
|
395,000
|
Eyal
Hen
|
2019
|
202,074
|
(4)
|
-
|
26,415
|
(5)
|
2,488
|
(3)
|
230,977
|
Chief Financial
Officer
|
2018
|
-
|
|
-
|
-
|
|
-
|
|
-
|
Riaz
Latifullah
|
2019
|
289,680
|
(6)
|
-
|
10,566
|
(7)
|
17,700
|
(3)
|
317,946
|
EVP
Corporate Development
|
2018
|
271,667
|
|
100,000(8)
|
-
|
|
-
|
|
371,667
|
|
Option Awards
|
Stock Awards
|
|||||
Name
|
Number of Securities Underlying Unexercised Option -
Exercisable
|
Number of Securities Underlying Unexercised Options -
Unexercisable
|
|
Option Exercise Price
|
Option Expiration
Date
|
Number of Shares that Have Not Vested
|
Market Value of Shares of Stock that Have not
Vested
|
Robert
Berman
|
-
|
50,000
|
(1)
|
$1.00
|
5/8/2029
|
-
|
-
|
Robert
Berman
|
-
|
50,000
|
(1)
|
1.50
|
5/8/2029
|
-
|
-
|
Eyal
Hen
|
-
|
50,000
|
(1)
|
0.78
|
5/15/2029
|
-
|
-
|
Riaz
Latifullah
|
174,595
|
-
|
|
1.42
|
12/31/2026
|
-
|
-
|
Riaz
Latifullah
|
-
|
20,000
|
(1)
|
0.80
|
5/8/2029
|
-
|
-
|
|
Number of securities to be issued upon exercise of outstanding
options, warrants and rights
|
Weighted-average exercise price of outstanding options, warrants
and rights
|
Number of securities remaining available for future issuance under
equity compensation plans (excluding securities reflected in column
(a))
|
|
(a)
|
(b)
|
(c)
|
Equity
compensation plans approved by security holders
|
1,655,383
|
$1.68
|
1,330,619
|
Total
|
1,655,383
|
$1.68
|
1,330,619
|
|
Shares Beneficially Owned
|
||
Name and
address of beneficial owner (1)
|
Number of Shares beneficially owned (2)
|
|
Percent of class
|
Directors and Named Executive Officers
|
|
|
|
Robert
A. Berman
|
4,495,438
|
(3)
|
19.7%
|
James
McCarthy
|
2,725,835
|
|
12.0%
|
Richard
Nathan
|
1,614,666
|
(4)
|
7.1%
|
Matthew
Hill
|
1,155,000
|
(5)
|
4.9%
|
Paul
de Bary
|
118,499
|
(6)
|
*
|
Glenn
Goord
|
150,999
|
(7)
|
*
|
Christine
Harada
|
70,999
|
(8)
|
*
|
David
Hanlon
|
70,999
|
(8)
|
*
|
Steven
Croxton
|
48,499
|
(9)
|
*
|
Eyal
Hen
|
16,667
|
(10)
|
*
|
Riaz
Latifullah
|
187,929
|
(11)
|
*
|
All
directors and named executive officers as a group (11
persons)
|
10,655,530
|
|
44.3%
|
5% or Greater Shareholders
|
|
|
|
Avon
Road Partners, L.P.
|
4,473,438
|
(3)
|
19.5%
|
Superius
Securities Group Inc Profit Sharing Plan
|
1,090,639
|
(12)
|
4.8%
|
|
For the Year
Ended December 31,
|
|
|
2019
|
2018
|
|
(Dollars in
thousands)
|
|
|
|
|
Audit
fees
|
$168
|
$-
|
Audit-related
fees
|
-
|
-
|
Tax
fees
|
-
|
-
|
All other
fees
|
13
|
-
|
Total
|
$181
|
$-
|
|
For the Year
Ended December 31,
|
|
|
2019
|
2018
|
|
(Dollars in
thousands)
|
|
|
|
|
Audit
fees
|
$110
|
$205
|
Audit-related
fees
|
-
|
104
|
Tax
fees
|
18
|
40
|
All other
fees
|
73
|
-
|
Total
|
$201
|
$349
|
|
|
|
|
Incorporated by Reference
|
|
|
|
||||||
Exhibit
Number
|
|
Exhibit Description
|
|
Form
|
|
File No.
|
|
Exhibit
|
|
FilingDate
|
|
Filed/
FurnishedHerewith
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Second
Amended and Restated Agreement and Plan of Merger dated July 12,
2017, by and among Novume Solutions, Inc., KeyStone Solutions,
Inc., Brekford Traffic Safety, Inc., KeyStone Merger Sub, LLC, and
Brekford Merger Sub, Inc.
|
|
S-4/A
|
|
333-216014
|
|
2.1
|
|
7/13/17
|
|
|
|
|
|
|
Agreement
and Plan of Merger, dated as of September 21, 2017, by and among
Novume Solutions, Inc., Global Technical Services Merger Sub, Inc.,
Global Contract Professionals Merger Sub, Inc., Global Technical
Services, Inc., Global Contract Professionals, Inc. and Paul
Milligan
|
|
8-K
|
|
000-55833
|
|
2.1
|
|
9/22/17
|
|
|
|
|
|
Agreement
and Plan of Merger, dated as of November 16, 2017, by and among
Novume Solutions, Inc., NeoSystems Holding, LLC, NeoSystems HoldCo,
Inc., NeoSystems LLC, Robert W. Wilson, Jr., in his personal
capacity, Michael Tinsley, in his personal capacity and Michael
Tinsley as the Stockholders’ Agent
|
|
8-K
|
|
000-55833
|
|
2.1
|
|
11/20/17
|
|
|
|
|
|
Amended
and Restated Certificate of Incorporation of Novume Solutions, Inc.
as filed with the Secretary of State of Delaware on August 21,
2017
|
|
8-K
|
|
333-216014
|
|
3.1
|
|
8/25/17
|
|
|
|
|
|
Certificate of Amendment to Certificate of Incorporation of Novume
Solutions, Inc. as filed with the Secretary of State of Delaware on
April 30, 2019
|
|
8-K
|
|
001-38338
|
|
3.1
|
|
4/30/19
|
|
|
|
|
|
Second Certificate of Amendment to the Amended and Restated
Certificate of Incorporation of Rekor Systems, Inc., dated March
18, 2020
|
|
8-K
|
|
001-38338
|
|
3.1
|
|
3/18/20
|
|
|
|
|
|
Certificate
of Designations of Series A Cumulative Convertible Redeemable
Preferred Stock as filed with the Secretary of State of Delaware on
August 25, 2017
|
|
8-K
|
|
333-216014
|
|
4.1
|
|
8/25/17
|
|
|
|
|
|
Certificate
of Designations of Novume Series B Cumulative Convertible Preferred
Stock as filed with the Secretary of State of Delaware on August
21, 2017
|
|
8-K
|
|
000-55833
|
|
4.2
|
|
10/4/17
|
|
|
|
|
Amended
and Restated Bylaws of Rekor, Inc.
|
|
8-K
|
|
001-38338
|
|
3.2
|
|
4/30/19
|
|
|
|
|
|
Form of
Common Stock Purchase Warrant issued by Novume Solutions, Inc. on
January 25, 2017
|
|
S-4/A
|
|
333-216014
|
|
4.3
|
|
6/9/17
|
|
|
|
|
|
Form of
Common Stock Purchase Warrant issued by Novume Solutions, Inc. on
January 25, 2017
|
|
S-4/A
|
|
333-216014
|
|
4.4
|
|
6/9/17
|
|
|
|
|
|
Form of
Warrant issued by Novume Solutions, Inc. on March 12,
2019
|
|
8-K
|
|
001-38338
|
|
4.1
|
|
3/18/19
|
|
|
|
|
|
Unsecured
Subordinated Promissory Note issued to Harry Rhulen by Novume
Solutions, Inc. on September 29, 2017
|
|
8-K
|
|
000-55833
|
|
10.2
|
|
10/3/17
|
|
|
|
|
|
|
Unsecured
Subordinated Promissory Note issued to Suzanne Loughlin by Novume
Solutions, Inc. on September 29, 2017
|
|
8-K
|
|
000-55833
|
|
10.3
|
|
10/3/17
|
|
|
|
|
|
Unsecured
Subordinated Promissory Note issued to James Satterfield by Novume
Solutions, Inc. on September 29, 2017
|
|
8-K
|
|
000-55833
|
|
10.4
|
|
10/3/17
|
|
|
|
|
Unsecured
Subordinated Promissory Note issued to Lancer Financial Group, Inc.
by Novume Solutions, Inc. on September 29, 2017
|
|
8-K
|
|
000-55833
|
|
10.5
|
|
10/3/17
|
|
|
|
Form of
Senior Secured Note issued by Novume Solutions, Inc. on March 12,
2019
|
|
8-K
|
|
001-38338
|
|
4.2
|
|
3/18/19
|
|
|
|
|
|
Note
Purchase Agreement, dated as of March 12, 2019, by and among Novume
Solutions, Inc., Cedarview Capital Management, LP, the Guarantors
from time to time party thereto, U.S. Bank National Association,
and the Purchasers from time to time party thereto
|
|
8-K
|
|
001-38338
|
|
4.3
|
|
3/18/19
|
|
|
|
|
Registration
Rights Agreement, dated as of October 1, 2017, by and among Novume
Solutions, Inc., G&W Ventures Inc. and Paul
Milligan
|
|
8-K
|
|
000-55833
|
|
4.1
|
|
10/4/17
|
|
|
|
2017
Equity Award Plan of Novume Solutions, Inc.
|
|
S-8
|
|
333-220864
|
|
4.7
|
|
10/6/17
|
|
|
|
|
Employment
Agreement, dated as of March 16, 2016, by and between KeyStone
Solutions, Inc. and Robert A. Berman
|
|
1-A
|
|
024-10551
|
|
6.1
|
|
5/12/16
|
|
|
|
|
Employment
Agreement, dated August 1, 2016, by and between KeyStone Solutions,
Inc. and Riaz Latifullah
|
|
1-A/A
|
|
024-10551
|
|
6.11
|
|
9/2/16
|
|
|
|
|
|
Restated,
Amended and Supplemental Employment Agreement, dated as of August
28, 2017, by and between Novume Solutions, Inc. and Riaz
Latifullah
|
|
8-K
|
|
333-216014
|
|
10.2
|
|
8/29/17
|
|
|
|
|
Second
Restated, Amended and Supplemental Employment Agreement, dated as
of March 29, 2018, by and between Novume Solutions, Inc. and Riaz
Latifullah
|
|
10-K
|
|
001-38338
|
|
10.24
|
|
4/12/18
|
|
|
|
|
Amended
and Restated Offer Letter, dated as of January 8, 2018, by and
between AOC Key Solutions, Inc. and James McCarthy
|
|
S-1/A
|
|
333-221789
|
|
10.6
|
|
1/10/18
|
|
|
|
Employment
Agreement, dated as of November 14, 2018, by and between Novume
Solutions, Inc. and Matthew Hill
|
|
8-K
|
|
001-38338
|
|
10.2
|
|
11/15/18
|
|
|
|
|
|
Assignment
and Assumption Agreement, dated as of October 1, 2017, by and
between KeyStone Solutions LLC and Novume Solutions,
Inc.
|
|
8-K
|
|
000-55833
|
|
10.1
|
|
10/3/17
|
|
|
|
|
General
Continuing Guaranty, dated as of October 4, 2017, by and between
Wells Fargo Bank, National Association and Novume Solutions, Inc.
for Global Technical Services, Inc.
|
|
8-K
|
|
000-55833
|
|
10.1
|
|
10/4/17
|
|
|
|
|
General
Continuing Guaranty, dated as of October 4, 2017, by and between
Wells Fargo Bank, National Association and Novume Solutions, Inc.
for Global Contract Professionals, Inc.
|
|
8-K
|
|
000-55833
|
|
10.2
|
|
10/4/17
|
|
|
|
|
Security
Agreement, dated as of April 3, 2018, by and between Brekford
Traffic Safety, Inc. and Cedarview Opportunities Master Fund,
LP
|
|
8-K
|
|
001-38338
|
|
10.2
|
|
4/9/18
|
|
|
|
|
Letter
of Intent, dated as of September 17, 2018, by and between Novume
Solutions, Inc. and OpenALPR Technology, Inc.
|
|
8-K
|
|
001-38338
|
|
99.2
|
|
9/20/18
|
|
|
|
|
Asset
Purchase Agreement, dated as of November 14, 2018, by and among
Novume Solutions, Inc., OpenALPR Technology, Inc. and Matthew
Hill
|
|
8-K
|
|
001-38338
|
|
10.1
|
|
11/15/18
|
|
|
|
|
Amendment
No. 1 to Purchase Agreement, dated as of February 15, 2019, by and
among Novume Solutions, Inc., OpenALPR Technology, Inc. and Matthew
Hill
|
|
8-K
|
|
001-38338
|
|
10.1
|
|
3/18/19
|
|
|
|
|
Amendment
No. 2 to Purchase Agreement, dated as of March 12, 2019, by and
among Novume Solutions, Inc., OpenALPR Technology, Inc. and Matthew
Hill
|
|
8-K
|
|
001-38338
|
|
10.2
|
|
3/18/19
|
|
|
|
|
Management
Services Agreement, dated as of October 9, 2018, by and between
Novume Solutions, Inc. and OpenALPR Technologies, Inc.
|
|
10-Q
|
|
001-38338
|
|
10.2
|
|
11/13/18
|
|
|
10.17
|
|
Sublease
effective January 1, 2019 by and between BlueWater Federal
Solutions, Inc and AOC Key Solutions, Inc.
|
|
|
|
|
|
|
|
|
|
*
|
10.18#
|
|
Form of
Novume Solutions, Inc. Incentive Stock Option Award
Agreement
|
|
|
|
|
|
|
|
|
|
*
|
10.19#
|
|
Form of
Novume Solutions, Inc. Non-Qualified Stock Option Award
Agreement
|
|
|
|
|
|
|
|
|
|
*
|
|
Employment
Agreement with Eyal Hen effective May 15, 2019
|
|
8-K
|
|
001-38338
|
|
10.1
|
|
5/21/19
|
|
|
|
|
Employment
Agreement with Robert Berman effective May 15, 2019
|
|
8-K
|
|
001-38338
|
|
10.2
|
|
5/21/19
|
|
|
|
|
Employment
Agreement with Riaz Latifullah effective May 15, 2019
|
|
8-K
|
|
001-38338
|
|
10.3
|
|
5/21/19
|
|
|
|
|
At
Market Issuance Sales Agreement, dated August 14, 2019, between
Rekor Systems, Inc. and B. Riley FBR, Inc.
|
|
8-K
|
|
001-38338
|
|
10.1
|
|
8/15/19
|
|
|
|
|
Form of
Rekor Systems, Inc. Restricted Stock Unit Agreement
|
|
|
|
|
|
|
|
|
|
*
|
|
|
First
Amendment to Note Purchase Agreement, dated March 26, 2020, by and
among the Company, the Purchasers from time to time party thereto
and the Agent.
|
|
8-K
|
|
001-38338
|
|
10.25
|
|
3/26/20
|
|
*
|
|
|
Limited
Waiver, dated as of March 26, 2020, by and among the Company and
the undersigned Purchasers.
|
|
8-K
|
|
001-38338
|
|
10.26
|
|
3/26/20
|
|
*
|
|
|
BD & Co Letter on Change in Certifying Accountant dated
June 28, 2019
|
|
8-K
|
|
001-38338
|
|
16.1
|
|
6/28/19
|
|
|
|
|
Subsidiaries
of Rekor Systems, Inc.
|
|
|
|
|
|
|
|
|
|
*
|
|
|
Consent
of Friedman LLP., Independent Registered Public Accounting
Firm
|
|
|
|
|
|
|
|
|
|
*
|
|
|
Consent
of BD & Co, Independent Registered Public Accounting
Firm
|
|
|
|
|
|
|
|
|
|
*
|
|
|
Rule
13a-14(a)/15d-14(a) Certification of Chief Executive
Officer
|
|
|
|
|
|
|
|
|
|
*
|
|
|
Rule
13a-14(a)/15d-14(a) Certification of Chief Financial
Officer
|
|
|
|
|
|
|
|
|
|
*
|
|
|
Section
1350 Certification of Chief Executive Officer
|
|
|
|
|
|
|
|
|
|
**
|
|
|
Section
1350 Certification of Chief Financial Officer
|
|
|
|
|
|
|
|
|
|
**
|
|
101.INS
|
|
XBRL
Instance Document
|
|
|
|
|
|
|
|
|
|
*
|
101.SCH
|
|
XBRL
Taxonomy Extension Schema Document
|
|
|
|
|
|
|
|
|
|
*
|
101.CAL
|
|
XBRL
Taxonomy Extension Calculation Linkbase Document
|
|
|
|
|
|
|
|
|
|
*
|
101.LAB
|
|
XBRL
Taxonomy Extension Label Linkbase Document
|
|
|
|
|
|
|
|
|
|
*
|
101.PRE
|
|
XBRL
Taxonomy Extension Presentation Linkbase Document
|
|
|
|
|
|
|
|
|
|
*
|
101.DEF
|
|
XBRL
Taxonomy Extension Definition Linkbase Document
|
|
|
|
|
|
|
|
|
|
*
|
*
|
Filed
herewith.
|
**
|
Furnished
herewith.
|
#
|
Indicates
management contract or compensatory plan.
|
^
|
Confidential
treatment has been granted with respect to redacted portions of
this exhibit. Redacted portions of this exhibit have been filed
separately with the SEC.
|
|
|
Rekor
Systems, Inc.
|
|
|
|
|
|
/s/
Robert A. Berman
|
|
Name:
|
Robert
A. Berman
|
|
Title:
|
President
and Chief Executive Officer
Principal
Executive Officer
|
Date: March 30,
2020
|
|
|
Signature
|
Title
|
Date
|
|
|
|
/s/
Robert A. Berman
Robert A. Berman
|
Chief
Executive Officer
(Principal
Executive Officer) and Director
|
March 30, 2020
|
|
|
|
/s/
Eyal Hen
Eyal Hen
|
Chief
Financial Officer
(Principal
Financial and Accounting Officer)
|
March 30, 2020
|
|
|
|
/s/
James K. McCarthy
James K. McCarthy
|
Chairman
of the Board and Director
|
March 30, 2020
|
|
|
|
/s/
Richard Nathan
Dr. Richard Nathan
|
Director
|
March 30, 2020
|
|
|
|
/s/
Glenn Goord
Glenn Goord
|
Director
|
March 30, 2020
|
|
|
|
/s/
Paul de Bary
Paul de Bary
|
Director
|
March 30, 2020
|
|
|
|
/s/
Christine J. Harada
Christine J. Harada
|
Director
|
March 30, 2020
|
/s/
David Hanlon
David Hanlon
|
Director
|
March 30, 2020
|
/s/
Steven D. Croxton
Steven D. Croxton
|
Director
|
March 30, 2020
|
1 Year Rekor Systems (QB) Chart |
1 Month Rekor Systems (QB) Chart |
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