v3.20.1

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 3,863,000	$ 4,781,000
Restricted cash	100,000	100,000
Accounts receivable, net	2,366,000	1,809,000
Inventories, net	2,540,000	2,897,000
Prepaid expenses and other current assets	211,000	180,000
Total current assets	9,080,000	9,767,000
Property and equipment, net	122,000	112,000
Right-of-use	676,000
Other assets	160,000	119,000
Total assets	10,038,000	9,998,000
Current liabilities:
Accounts payable	1,029,000	1,023,000
Accrued payroll and related liabilities	192,000	185,000
Deferred service revenue	702,000	736,000
Lease liabilities, short term	252,000
Other accrued liabilities	368,000	559,000
Total current liabilities	2,543,000	2,503,000
Other long-term liabilities	52,000	40,000
Lease liabilities, long term	453,000
Deferred service revenue, long term	247,000	127,000
Total long-term liabilities	752,000	167,000
Total liabilities	3,295,000	2,670,000
Commitments and contingencies (Note 10)
Shareholders’ equity:
Preferred stock, no par value; 5,000,000 shares authorized; no shares issued	0	0
Common stock, no par value; 50,000,000 shares authorized; 1,925,025 and 2,030,017 shares issued and outstanding as of December 31, 2019 and 2018, respectively	18,848,000	19,426,000
Accumulated deficit	(12,105,000)	(12,098,000)
Total shareholders’ equity	6,743,000	7,328,000
Total liabilities and shareholders’ equity	$ 10,038,000	$ 9,998,000

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

QUALSTAR CORP 10-K