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Note 17 - Other Income

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Other Income and Other Expense Disclosure [Text Block]

17. Other income:

On August 1, 2020, the Company entered into an Asset Purchase Agreement (the “DISH Purchase Agreement”), by and between the Company and DISH Wireless L.L.C.(“DISH”). Under the DISH Purchase Agreement and in accordance with the terms and conditions set forth therein, the Company sold to DISH its mobile customer accounts that are marketed and sold under the Ting brand (other than certain customer accounts associated with one network operator) (“Transferred Assets”). For a period of 10 years following the execution of the DISH Purchase Agreement, DISH will pay a monthly fee to the Company generally equal to an amount of net revenue received by DISH in connection with the transferred customer accounts minus certain fees and expenses, as further set forth in the DISH Purchase Agreement. The Company earned $4.8 million and $10.2 million under the DISH Purchase Agreement during the three and six months ended June 30, 2021, respectively. The Company earned did not earn any amount under the DISH Purchase Agreement during both the  three and six months ended June 30, 2020.

		Three Months Ended June 30,								Six Months Ended June 30,
		2021				2020				2021				2020
Income earned on sale of Transferred Assets		$	4,808			$	-			$	10,203			$	-
Gain on sale of Ting Customer Assets		$	4,808			$	-			$	10,203			$	-

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- Definition

The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 720
-URI http://asc.fasb.org/topic&trid=2122503

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 610
-URI http://asc.fasb.org/topic&trid=49130413

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