☑ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ |
Delaware | 95-4484725 | |
(State or other jurisdiction of incorporation) | (I.R.S. Employer Identification No.) |
100 Canal Pointe Blvd., Suite 108 Princeton, New Jersey | 08540 | |
(Address of principal executive offices) | (Zip Code) |
Large accelerated filer ☐ | Accelerated filer ☐ | Non-accelerated filer ☐ | Smaller reporting company ☑ |
Page | ||||
PART I - FINANCIAL INFORMATION | ||||
Item 1 - Financial Statements | ||||
Unaudited Condensed Consolidated Balance Sheets as of | 3 | |||
Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended | 4 | |||
Unaudited Condensed Consolidated Statements of Cash Flows for the | 5 | |||
Notes to Unaudited Condensed Consolidated Financial Statements | 6 | |||
Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations | ||||
15 | ||||
Item 3 - Quantitative and Qualitative Disclosures About Market Risk | ||||
Item 4 - Controls and Procedures | ||||
PART II - OTHER INFORMATION | ||||
Item 1 - Legal Proceedings | ||||
Item 1A - Risk Factors | ||||
Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds | ||||
Item 3 - Defaults upon Senior Securities | ||||
Item 4 - Mine Safety Disclosures | ||||
Item 5 - Other Information | ||||
Item 6 | ||||
Signatures |
March 31, 2016 | December 31, 2015 | June 30, 2016 | December 31, 2015 | |||||||||||||
Assets | ||||||||||||||||
Cash and cash equivalents | $ | 505,173 | $ | 1,878,034 | $ | 3,603,663 | $ | 1,878,034 | ||||||||
Accounts receivable | 4,929,298 | 4,872,082 | 4,133,570 | 4,872,082 | ||||||||||||
Investments | - | 82,908 | 82,908 | |||||||||||||
Other current assets | 318,826 | 343,809 | 481,221 | 343,809 | ||||||||||||
Total current assets | 5,753,297 | 7,176,833 | 8,218,454 | 7,176,833 | ||||||||||||
Other assets: | ||||||||||||||||
Other assets | ||||||||||||||||
Property and equipment, net | 134,914 | 73,066 | 129,343 | 73,066 | ||||||||||||
Intangible assets, net | 3,072,617 | 3,114,513 | 2,975,617 | 3,114,513 | ||||||||||||
Acquired goodwill | 3,670,522 | 3,470,522 | 3,820,032 | 3,470,522 | ||||||||||||
Total other assets | 6,878,053 | 6,658,101 | 6,924,992 | 6,658,101 | ||||||||||||
Total assets | $ | 12,631,350 | $ | 13,834,934 | $ | 15,143,446 | $ | 13,834,934 | ||||||||
Liabilities and Stockholders' Equity | ||||||||||||||||
Current liabilities: | ||||||||||||||||
Current liabilities | ||||||||||||||||
Accounts payable | $ | 2,587,069 | $ | 2,597,385 | $ | 3,220,206 | $ | 2,597,385 | ||||||||
Other accrued expenses | 2,236,466 | 1,093,814 | 1,417,098 | 1,093,814 | ||||||||||||
Consideration payable | 1,630,490 | 3,649,267 | 1,186,609 | 3,649,267 | ||||||||||||
Short term notes | 1,477,386 | 1,235,935 | 1,407,369 | 1,235,935 | ||||||||||||
Total current liabilities | 7,931,411 | 8,576,401 | 7,231,282 | 8,576,401 | ||||||||||||
Long term liabilities | ||||||||||||||||
Convertible notes | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | ||||||||||||
Long term acquisition consideration | 500,000 | - | 500,000 | - | ||||||||||||
Total long term liabilities | 5,500,000 | 5,000,000 | 5,500,000 | 5,000,000 | ||||||||||||
Total liabilities: | 13,431,411 | 13,576,401 | ||||||||||||||
Total liabilities | 12,731,282 | 13,576,401 | ||||||||||||||
Stockholders' equity: | ||||||||||||||||
Stockholders' equity | ||||||||||||||||
Preferred stock, $0.01 par value; 1,000,000 authorized, none issued and outstanding | - | - | - | |||||||||||||
Common stock, $0.01 par value; 100,000,000 shares authorized, 11,874,361 and 11,874,361 issued and outstanding as of March 31, 2016 and December 31, 2015, respectively | 118,743 | 118,743 | ||||||||||||||
Common stock, $0.01 par value; 100,000,000 shares authorized, 13,485,472 and 11,639,066 issued and outstanding as of June 30, 2016 and December 31, 2015, respectively | 134,854 | 118,743 | ||||||||||||||
Additional paid-in capital | 1,294,369 | 1,192,692 | 5,700,286 | 1,192,692 | ||||||||||||
Retained earnings | (2,213,173 | ) | (1,052,902 | ) | (3,422,976 | ) | (1,052,902 | ) | ||||||||
Total stockholders' equity | (800,061 | ) | 258,533 | 2,412,164 | 258,533 | |||||||||||
Total liabilities and stockholders' equity | $ | 12,631,350 | $ | 13,834,934 | $ | 15,143,446 | $ | 13,834,934 |
Three Months Ended June 30, 2016 | Three Months Ended June 30, 2015 | Six Months Ended June 30, 2016 | Six Months Ended June 30, 2015 | |||||||||||||||||||||
Three Months Ended March 31, 2016 | Three Months Ended March 31, 2015 | |||||||||||||||||||||||
Net revenue | $ | 7,012,964 | $ | 4,284,750 | $ | 6,686,938 | $ | 3,930,938 | $ | 13,699,902 | $ | 8,215,688 | ||||||||||||
Cost of services | 3,865,561 | 3,166,080 | 5,169,538 | 2,948,275 | 10,926,845 | 6,114,355 | ||||||||||||||||||
Gross profit | 3,147,403 | 1,118,670 | 1,517,400 | 982,663 | 2,773,057 | 2,101,333 | ||||||||||||||||||
Operating expenses: | ||||||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||
Selling and marketing | 31,350 | - | 135,329 | - | 264,462 | - | ||||||||||||||||||
General and administration | 3,610,336 | 33,720 | 1,977,510 | 489,719 | 3,598,317 | 523,439 | ||||||||||||||||||
Nonrecurring expenditures | 375,405 | - | 239,815 | 304,924 | 615,220 | 304,924 | ||||||||||||||||||
Depreciation and amortization | 111,628 | 8,267 | 101,385 | 8,048 | 213,013 | 16,315 | ||||||||||||||||||
Operating expenses | 4,128,719 | 41,987 | 2,454,039 | 802,691 | 4,691,012 | 844,678 | ||||||||||||||||||
Operating income (loss) | (936,639 | ) | 179,972 | (1,917,955 | ) | 1,256,655 | ||||||||||||||||||
Operating income (loss): | (981,316 | ) | 1,076,683 | |||||||||||||||||||||
Interest expense | (113,746 | ) | - | (270,514 | ) | (25,542 | ) | (384,260 | ) | (25,542 | ) | |||||||||||||
Interest income/other income | 2,005 | - | - | 28 | 253 | 28 | ||||||||||||||||||
Other expense | (2,304 | ) | - | (1,862 | ) | - | (2,414 | ) | - | |||||||||||||||
Income before income taxes | (1,095,361 | ) | 1,076,683 | (1,209,015 | ) | 154,458 | (2,304,376 | ) | 1,231,141 | |||||||||||||||
Tax provision | (2,020 | ) | - | |||||||||||||||||||||
Tax benefit / (provision) | 2,020 | (43,489 | ) | - | (43,489 | ) | ||||||||||||||||||
Foreign exchange translation | (62,890 | ) | - | (2,808 | ) | - | (65,698 | ) | - | |||||||||||||||
Net income (loss) | $ | (1,160,271 | ) | $ | 1,076,683 | $ | (1,209,803 | ) | $ | 110,969 | $ | (2,370,074 | ) | $ | 1,187,652 | |||||||||
Net and comprehensive income (loss) for the period | $ | (1,160,271 | ) | $ | 1,076,683 | $ | (1,209,803 | ) | $ | 110,969 | $ | (2,370,074 | ) | $ | 1,187,652 | |||||||||
Basic income (loss) per share | (0.10 | ) | $ | 0.11 | (0.09 | ) | $ | 0.01 | (0.19 | ) | $ | 0.10 | ||||||||||||
Diluted income (loss) per share | (0.10 | ) | $ | 0.11 | (0.09 | ) | $ | 0.01 | (0.19 | ) | $ | 0.07 | ||||||||||||
Basic weighted average number of shares | 11,874,361 | 9,992,828 | 12,845,057 | 11,639,066 | 12,359,709 | 11,639,066 | ||||||||||||||||||
Diluted weighted average number of shares | 11,874,361 | 9,992,828 | 12,845,057 | 17,294,620 | 12,359,709 | 17,294,620 |
Three Months Ended March 31, 2016 | Three Months Ended March 31, 2015 | Six Months Ended June 30, 2016 | Six Months Ended June 30, 2015 | |||||||||||||
Cash flow from operating activities | ||||||||||||||||
Net income | $ | (1,160,271 | ) | $ | 1,076,683 | $ | (2,370,074 | ) | $ | 1,187,652 | ||||||
Adjustment to reconcile net income to net cash used in operating activities: | ||||||||||||||||
Adjustment to reconcile net income to net cash used in operating activities | Adjustment to reconcile net income to net cash used in operating activities | |||||||||||||||
Depreciation | 111,628 | 8,343 | 213,013 | 16,391 | ||||||||||||
Stock, option, RSU and warrant expense | 101,677 | - | ||||||||||||||
Stock, option, restricted stock unit and warrant expense | 443,705 | - | ||||||||||||||
Changes in assets and liabilities | ||||||||||||||||
Increase (decrease) in: | ||||||||||||||||
Accounts receivable | (57,216 | ) | (1,247,104 | ) | 738,512 | (2,949,126 | ) | |||||||||
Security deposits | (2,500 | ) | ||||||||||||||
Other current assets | 24,983 | (805 | ) | (137,412 | ) | (86,930 | ) | |||||||||
Increase (decrease) in: | ||||||||||||||||
Accounts payable and accrued expenses | 1,132,336 | (68,123 | ) | 946,105 | 422,261 | |||||||||||
Consideration payable | (1,718,777 | ) | (100,000 | ) | ||||||||||||
Net cash used in operating activities: | (1,565,640 | ) | (331,006 | ) | ||||||||||||
Other current liabilities | - | 295,733 | ||||||||||||||
Taxes payable | - | 43,425 | ||||||||||||||
Net cash used in operating activities | (166,151 | ) | (1,073,094 | ) | ||||||||||||
Cash flow from investing activities | ||||||||||||||||
Purchase of and intangible and fixed assets | (131,580 | ) | (9,431 | ) | (130,394 | ) | (989,959 | ) | ||||||||
Acquisition consideration payable | (3,232,168 | ) | (99,936 | ) | ||||||||||||
Investments | 82,908 | (340,000 | ) | 82,908 | - | |||||||||||
Net cash used in investing activities | (48,672 | ) | (349,431 | ) | (3,279,654 | ) | (1,089,895 | ) | ||||||||
Cash flow from financing activities | ||||||||||||||||
Net proceeds from debt issuance | 241,451 | - | 171,434 | 5,000,000 | ||||||||||||
Additional stock issued | - | 125,000 | 5,000,000 | 159,521 | ||||||||||||
Net cash provided by financing activities | 241,451 | 125,000 | 5,171,434 | 5,159,521 | ||||||||||||
Net decrease in cash and cash equivalents | (1,372,861 | ) | (555,437 | ) | ||||||||||||
Net change in cash and cash equivalents | 1,725,629 | 2,996,532 | ||||||||||||||
Cash and cash equivalents as at beginning of the period | 1,878,034 | 1,381,058 | 1,878,034 | 1,381,058 | ||||||||||||
Cash at the end of the period | $ | 505,173 | $ | 825,621 | $ | 3,603,663 | $ | 4,377,590 |
NOTE 1. | ORGANIZATION: |
NOTE 2. | BASIS OF PRESENTATION: |
NOTE 3. | BUSINESS COMBINATIONS: |
1. | A cash payment in the amount of $3,000,000 at closing, |
2. | 235,295 shares of AMERI's common stock issued at closing, |
3. | $250,000 quarterly cash payments to be paid on the last day of each calendar quarter of 2016, |
4. | A $1,000,000 cash reimbursement to be paid 5 days following closing to compensate Bellsoft for a portion of its approximate cash balance as of September 1, 2015, |
5. | Approximately $2,500,000 to be paid within 30 days of closing in connection with the excess of Bellsoft's accounts receivable over its accounts payable as of September 1, 2015, and |
6. | Earn-out payments of approximately $500,000 a year for 2016 and 2017, if earned through the achievement of annual revenue and EBITDA targets specified in the Bellsoft purchase agreement, subject to downward or upward adjustment depending on actual results. In the first quarter of 2016, the Company adjusted the estimate for the |
1. | $340,000, to be paid at closing; |
2. | Warrants for the purchase of 51,000 shares of the Company's common stock, with such warrants exercisable for two years from the date of closing; and |
3. | $255,000, which may become payable as a commission to the sellers of Bigtech if Bigtech achieves certain revenue targets within the two years following closing. |
NOTE 4. | REVENUE RECOGNITION: |
NOTE 5. | SHARE-BASED COMPENSATION: |
NOTE 6. | INCOME TAXES: |
Amortization Expense | ||||
(in thousands) | ||||
2016 | $ | 388,000 | ||
2017 | $ | 388,000 | ||
2018 | $ | 388,000 | ||
2019 | $ | 363,000 |
Amortization Expense | |||
2016 | $388,000 | ||
2017 | $388,000 | ||
2018 | $388,000 | ||
2019 | $363,000 |
Three Months Ended | Six Months Ended | |||||||||||||||
March 31, | June 30, | |||||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
(in thousands, except per share data) | (in thousands, except per share data) | |||||||||||||||
Basic net income (loss) per share: | ||||||||||||||||
Net income (loss) applicable to common shares | $ | (0.10 | ) | $ | 0.11 | $ | (0.19 | ) | $ | 0.11 | ||||||
Weighted average common shares outstanding | 11,874 | 9,992 | ||||||||||||||
Weighted average and common shares outstanding | 12,359 | 11,639 | ||||||||||||||
Basic net income (loss) per share of common stock | $ | (0.10 | ) | $ | 0.11 | $ | (0.19 | ) | $ | 0.11 | ||||||
Diluted net income (loss) per share: | ||||||||||||||||
Net income (loss) applicable to common shares | $ | (0.10 | ) | $ | 0.11 | $ | (0.19 | ) | $ | 0.11 | ||||||
Weighted average common shares outstanding | 11,874 | 9,992 | ||||||||||||||
Weighted average and common shares outstanding | 12,359 | 11,639 | ||||||||||||||
Dilutive effects of convertible debt, stock options and warrants | - | - | - | 5,656 | ||||||||||||
Weighted average common shares, assuming dilutive effect of stock options | 11,874 | 9,992 | 12,359 | 17,294 | ||||||||||||
Diluted net income (loss) per share of common stock | $ | (0.10 | ) | $ | 0.11 | $ | (0.19 | ) | $ | 0.11 |
Years ending December 31, | (in thousands) | |||
2016 | $ | 90 | ||
2017 | 60 | |||
2018 | 20 | |||
Total | $ | 170 |
Number of Shares | Weighted Avg. Exercise Price | |||||||
Options outstanding at December 31, 2015 | 150,000 | 2.67 | ||||||
Granted | 760,500 | $ | 6.86 | |||||
Exercised | — | — | ||||||
Cancelled / Expired | 55,000 | 4.19 | ||||||
Outstanding at June 30, 2016 | 855,500 | $ | 6.30 |
Number of Shares | Weighted Avg. Exercise Price | |||||||
Options outstanding at December 31, 2015 | 150,000 | 2.67 | ||||||
Granted | 105,000 | $ | 6.02 | |||||
Exercised | — | — | ||||||
Outstanding at March 31, 2016 | 255,000 | $ | 4.05 |
Average Exercise Price | Number of Shares | Remaining Average Contractual Life (in years) | Exercise Price times number of Shares | Weighted Average Exercise Price | Intrinsic Value | ||||||||||||||||||
$ | 4.05 | 255,000 | 4.53 | $ | 1,032,600 | $ | 4.05 | $ | 84,660 |
Average Exercise Price | Number of Shares | Remaining Average Contractual Life (in years) | Exercise Price times number of Shares | Weighted Average Exercise Price | Intrinsic Value | ||||||||||||||||||
$ | 6.30 | 855,500 | 4.53 | $ | 5,389,650 | $ | 6.30 | $ | 451,000 |
Weighted Avg. | ||||||||||||||||
Number of | Weighted Avg. | Remaining | Intrinsic | |||||||||||||
Shares | Exercise Price | Term | Value | |||||||||||||
Outstanding at December 31, 2015 | 2,777,777 | 1.80 | 4.41 | $ | 13,333,330 | |||||||||||
Granted | 1,007,000 | 6.00 | — | — | ||||||||||||
Exercised | 1,111,111 | 1.80 | — | |||||||||||||
Outstanding at June 30, 2016 | 2,673,666 | 1.8 | 3.76 | $ | 7,849,997 |
Weighted Avg. | ||||||||||||||||
Number of | Weighted Avg. | Remaining | Intrinsic | |||||||||||||
Shares | Exercise Price | Term | Value | |||||||||||||
Outstanding at December 31, 2015 | 2,777,777 | 1.8 | 4.41 | $ | 13,333,330 | |||||||||||
Granted | — | — | — | |||||||||||||
Outstanding at March 31, 2016 | 2,777,777 | 1.8 | 4.15 | $13,333,330 |
(a) | in the case of Revolving Loans, a rate per annum equal to the sum of (i) the Wall Street Journal Prime Rate plus (ii) 2.00%; |
(b) | in the case of the Term Loan, a rate per annum equal to the sum of (i) the Wall Street Journal Prime Rate plus (ii) 3.75%; and |
(c) | in the case of other obligations of the Borrowers, a rate per annum equal to the sum of (i) the greater of (A) 3.25% or (B) Wall Street Journal Prime Rate plus (ii) 3.75%. |
Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended June 30, | Three Months Ended June 30, | |||||||||||||
2016 | 2015 | 2016 | 2015 | |||||||||||||
Net Revenue | $ | 7,012,964 | $ | 4,284,750 | $ | 6,686,938 | $ | 3,930,938 | ||||||||
Cost of revenue | 3,865,561 | 3,166,080 | 5,169,538 | 2,948,275 | ||||||||||||
Gross profit | $ | 3,147,403 | $ | 1,118,670 | $ | 1,517,400 | $ | 982,663 | ||||||||
Operating expenses: | ||||||||||||||||
Operating expenses | ||||||||||||||||
Selling and Marketing | $ | 31,350 | $ | - | $ | 135,329 | $ | - | ||||||||
General and administrative | 3,610,336 | 33,720 | 1,977,510 | 489,719 | ||||||||||||
Nonrecurring expenditures | 375,405 | - | 239,815 | 304,924 | ||||||||||||
Depreciation and amortization | 111,628 | 8,267 | 101,385 | 8,048 | ||||||||||||
Operating expenses | $ | 4,128,719 | $ | 41,987 | $ | 2,454,309 | $ | 802,691 | ||||||||
Income from operations | (981,316 | ) | 1,076,683 | (936,639 | ) | 179,972 | ||||||||||
Interest expense | $ | (113,746 | ) | $ | - | $ | (270,514 | ) | $ | (25,542 | ) | |||||
Interest income | 2,005 | - | (1,752 | ) | 28 | |||||||||||
Other expense | (2,304 | ) | - | (110 | ) | - | ||||||||||
Tax benefit/(provision) | (2,020 | ) | - | 2,020 | (43,489 | ) | ||||||||||
Foreign exchange translation | (62,890 | ) | - | (2,808 | ) | - | ||||||||||
Net income | $ | (1,160,271 | ) | $ | 1,076,683 | $ | (1,209,803 | ) | $ | 110,969 |
Six Months Ended June 30, | Six Months Ended June 30, | |||||||
2016 | 2015 | |||||||
Net Revenue | $ | 13,699,902 | $ | 8,215,688 | ||||
Cost of revenue | 10,926,845 | 6,114,355 | ||||||
Gross profit | $ | 2,773,057 | $ | 2,101,333 | ||||
Operating expenses | ||||||||
Selling and Marketing | $ | 264,462 | $ | - | ||||
General and administrative | 3,598,317 | 523,439 | ||||||
Nonrecurring expenditures | 615,220 | 304,924 | ||||||
Depreciation and amortization | 213,013 | 16,315 | ||||||
Operating expenses | $ | 4,691,012 | $ | 844,678 | ||||
Income from operations | (1,917,955 | ) | 1,256,655 | |||||
Interest expense | $ | (384,260 | ) | $ | (25,542 | ) | ||
Interest income | 253 | 28 | ||||||
Other expense | (2,414 | ) | - | |||||
Tax benefit/(provision) | - | (43,489 | ) | |||||
Foreign exchange translation | (65,698 | ) | - | |||||
Net income | $ | (2,370,074 | ) | $ | 1,187,652 |
· | Update 2015-16 - Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments |
· | Update 2015-15 – Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting (SEC Update) |
· | Update 2015-14 - Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date |
· | Update 2015-11 - Inventory (Topic 330): Simplifying the Measurement of Inventory |
· | Update 2015-08 - Business Combinations (Topic 805): Pushdown Accounting - Amendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 (SEC Update) |
· | Update No. 2015-03 – Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs |
· | Update 2015-17 - Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes |
· | Update 2016-01 - Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities |
· | Update No. 2015-02 - Consolidation (Topic 810): Amendments to the Consolidation Analysis |
· | Update 2016-09 - Compensation - Stock Compensation (Topic 718) Improvements to Employee Share-Based Payment Accounting |
ITEM 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
ITEM 4. | CONTROLS AND PROCEDURES |
Exhibit Number | Description | |
3.1 | Amended and Restated Certificate of Incorporation of | |
4.1 | Form of Common Stock Purchase Warrant issued by AMERI Holdings, Inc. to Lone Star Value Investors, LP, dated May 26, 2015. (filed as Exhibit 4.1 to AMERI Holdings, Inc.'s Current Report on Form 8-K filed with the SEC on June 1, 2015 and incorporated herein by reference) | |
4.2 | Form of 5% Convertible Unsecured Promissory Note due May 26, 2017 from AMERI Holdings, Inc. to Lone Star Value Investors, LP, dated May 26, 2015. (filed as Exhibit 4.2 to AMERI Holdings, Inc.'s Current Report on Form 8-K filed with the SEC on June 1, 2015 and incorporated herein by reference) | |
Common Stock Purchase Warrant, dated May 12, 2016, issued by AMERI Holdings, Inc. to Lone Star Value Investors, LP, dated May 12, | ||
Amendment No. 1 of the 5% Convertible Unsecured Promissory Note due May 26, 2017 from AMERI Holdings, Inc. to Lone Star Value Investors, LP, dated May 12, | ||
Securities Purchase Agreement, dated as of April 20, 2016, by and between AMERI Holdings, Inc. and Dhruwa N. Rai (filed as Exhibit 10.1 to AMERI Holdings, Inc.'s Current Report on Form 8-K filed with the SEC on April 21, 2016 and incorporated herein by reference). | ||
Amended and Restated Registration Rights Agreement, dated May 12, 2016, by and between AMERI Holdings, Inc. and Lone Star Value Investors, | ||
31.01* | Certification Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
31.02* | Certification Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |
32.01* | Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | |
101** | Interactive Data Files. |
* | Furnished herewith. |
** | In accordance with Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections. |
AMERI HOLDINGS, INC. | ||||
Date: | /s/ Giri Devanur | |||
Giri Devanur | ||||
President and Chief Executive Officer (Principal Executive Officer) | ||||
Date: | /s/ Edward O'Donnell | |||
Edward O'Donnell | ||||
Chief Financial Officer (Principal Financial and Accounting Officer) |