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DISCONTINUED OPERATIONS
 6 Months Ended
Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

NOTE 10 – DISCONTINUED OPERATIONS

 

In December 2019, we sold our Workspace Management business to FM:Systems for approximately $121,500 in cash, of which $1,685 is held in escrow and is included in prepaid expenses and other current assets in the condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019. The purchase price is subject to a working capital adjustment. This transaction enables us to focus on and continue to deliver our HCM solutions to small and mid-size businesses.

 

The table below reflects the operating results of the Workspace Management business reported as discontinued operations during the three and six months ended June 30, 2019.

 

   

Three Months Ended

    

Six Months Ended

  
   

June 30, 2019

    

June 30, 2019

  

Revenue

   $ 7,567     $ 13,917  
                 

Income from discontinued operations

   $ 1,303     $ 1,904  

Income tax (benefit) expense

     (28 )     30  

Income from discontinued operations, net of taxes

   $ 1,331     $ 1,874  

 

The table below reflects the depreciation, amortization, capital expenditures, and significant operating and investing non-cash items of the Workspace Management business reported as discontinued operations during the three and six months ended June 30, 2019:

 

   

Three Months Ended

    

Six Months Ended

  
   

June 30, 2019

    

June 30, 2019

  
                 

Depreciation and amortization

   $ 604     $ 1,233  

Provision for doubtful accounts

     8       (134 )

Share based compensation

     70       177  

Capital expenditures

     (42 )     (339 )

Software capitalization

     (214 )     (416 )