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AATC Autoscope Technologies

Document and Entity Information

Document and Entity Information - shares3 Months Ended
Mar. 31, 2020Apr. 30, 2020
Entity Information [Line Items]
Document Type10-Q
Amendment Flagfalse
Document Period End DateMar. 31,
2020
Document Fiscal Year Focus2020
Document Fiscal Period FocusQ1
Entity Registrant NameIMAGE SENSING SYSTEMS INC
Entity Central Index Key0000943034
Current Fiscal Year End Date--12-31
Entity Filer CategoryNon-accelerated Filer
Entity Common Stock, Shares Outstanding5,331,799
Entity Current Reporting StatusYes
Entity Small Businesstrue
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity File Number0-26056
Entity Address, Address Line One500 Spruce Tree Centre
Entity Address, Address Line Two1600 University Avenue West
Entity Address, City or TownSt. Paul
Entity Address, State or ProvinceMN
Entity Address, Postal Zip Code55104
Entity Tax Identification Number41-1519168
City Area Code(651)
Local Phone Number603-7700
Entity Incorporation, State or Country CodeMN
Entity Interactive Data CurrentYes
Document Quarterly Reporttrue
Document Transition Reportfalse
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) SecurityCommon Stock, $0.01 par value
Trading SymbolISNS
Security Exchange NameNASDAQ
Rights [Member]
Entity Information [Line Items]
Title of 12(b) SecurityPreferred Stock Purchase Rights
Trading SymbolISNS
Security Exchange NameNASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in ThousandsMar. 31, 2020Dec. 31, 2019
Current assets:
Cash and cash equivalents $ 5,425 $ 5,118
Accounts receivable, net of allowance for doubtful accounts of $4 and $19 respectively2,898 3,126
Inventories686 781
Prepaid expenses and other current assets571 463
Total current assets9,580 9,488
Property and equipment:
Furniture and fixtures147 163
Leasehold improvements6 6
Equipment1,413 1,339
Property and equipment, Gross1,566 1,508
Accumulated depreciation1,122 1,089
Property and equipment, Net444 419
Operating lease assets, net115 181
Intangible assets, net3,722 3,875
Deferred income taxes5,218 5,220
TOTAL ASSETS19,079 19,183
Current liabilities:
Accounts payable570 373
Deferred revenue18 28
Warranty220 313
Accrued compensation181 105
Operating lease obligations102 0
Other current liabilities200 412
Total current liabilities1,291 1,231
Operating lease obligations13 19
TOTAL LIABILITIES1,304 1,250
Shareholders' equity:
Preferred stock, $0.01 par value; 5,000,000 shares authorized, none issued or outstanding0 0
Common stock, $0.01 par value; 20,000,000 shares authorized, 5,331,799 and 5,322,849 issued and outstanding at March 31, 2020 and December 31, 2019, respectively53 53
Additional paid-in capital24,810 24,751
Accumulated other comprehensive loss(412)(306)
Accumulated deficit(6,676)(6,565)
Total shareholders' equity17,775 17,933
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 19,079 $ 19,183

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in ThousandsMar. 31, 2020Dec. 31, 2019
Condensed Consolidated Balance Sheets [Abstract]
Accounts receivable, allowance for doubtful accounts $ 4 $ 19
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock shares authorized5,000,000 5,000,000
Preferred stock shares issued0 0
Preferred stock shares outstanding0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock shares authorized20,000,000 20,000,000
Common stock shares issued5,331,799 5,322,849
Common stock shares outstanding5,331,799 5,322,849

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands3 Months Ended
Mar. 31, 2020Mar. 31, 2019
Revenue:
Total Revenue $ 3,159 $ 3,372
Cost of revenue:
Total Cost of revenue623 777
Gross profit2,536 2,595
Operating expenses:
Selling, general and administrative1,909 1,665
Research and development902 620
Restructuring charges0 2
Total Operating expenses2,811 2,287
Income (loss) from operations before income taxes(275)308
Income tax benefit(164)0
Net income (loss) $ (111) $ 308
Net income (loss) per share:
Basic (in dollars per share) $ (0.02) $ 0.06
Diluted (in dollars per share) $ (0.02) $ 0.06
Weighted average number of common shares outstanding:
Basic (in shares)5,267 5,224
Diluted (in shares)5,267 5,243
Product sales [Member]
Revenue:
Total Revenue $ 1,050 $ 1,621
Cost of revenue:
Total Cost of revenue531 685
Royalties [Member]
Revenue:
Total Revenue2,109 1,751
Cost of revenue:
Total Cost of revenue $ 92 $ 92

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2020Mar. 31, 2019
Condensed Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net income (loss) $ (111) $ 308
Other comprehensive income (loss):
Foreign currency translation adjustment(106)30
Comprehensive income (loss) $ (217) $ 338

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)3 Months Ended
Mar. 31, 2020Mar. 31, 2019
Operating activities:
Net income (loss) $ (111,000) $ 308,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation50,000 51,000
Software amortization174,000 150,000
Stock-based compensation59,000 50,000
Changes in operating assets and liabilities:
Accounts receivable, net228,000 413,000
Inventories95,000 81,000
Prepaid expenses and other current assets(108,000)57,000
Accounts payable186,000 (626,000)
Accrued expenses and other current liabilities(79,000)(300,000)
Net cash provided by operating activities494,000 184,000
Investing activities:
Capitalized software development costs(22,000)(419,000)
Purchases of property and equipment(75,000)(75,000)
Net cash used for investing activities(97,000)(494,000)
Financing activities:
Stock for tax withholding0 (12,000)
Proceeds from stock options exercised0 4,000
Net cash used for financing activities0 (8,000)
Effect of exchange rate changes on cash(90,000)30,000
Change in cash and cash equivalents307,000 (288,000)
Cash and cash equivalents at beginning of period5,118,000 4,236,000
Cash and cash equivalents at end of period5,425,000 3,948,000
Non-Cash investing and financing activities:
Purchase of property and equipment in accounts payable $ 25,000 $ 9,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in ThousandsTotalCommon StockAdditional Paid-In CaptalAccumulated Other Comprehensive LossAccumulated Deficit
Balance at Mar. 31, 2019 $ 11,050 $ 52 $ 24,592 $ (342) $ (13,252)
Balance (in shares) at Mar. 31, 20195,293,941
Stock-based compensation50 50
Stock-based compensation (in shares)16,818
Stock options exercised4 4
Stock options exercised (in shares)1,000
Stock for tax withholding(12)(12)
Stock for tax withholding (in shares)(2,362)
Comprehensive income (loss):
Foreign currency translation adjustment30 30
Net income (loss)308 308
Cumulative effect from adoption of ASU No. 2016-0233 33
Balance at Dec. 31, 201810,637 $ 52 24,550 (372)(13,593)
Balance (in shares) at Dec. 31, 20185,278,485
Balance at Mar. 31, 202017,775 $ 53 24,810 (412)(6,676)
Balance (in shares) at Mar. 31, 20205,331,799
Stock-based compensation $ 59 59
Stock-based compensation (in shares)8,950
Stock options exercised (in shares)0
Comprehensive income (loss):
Foreign currency translation adjustment $ (106)(106)
Net income (loss)(111)(111)
Balance at Dec. 31, 2019 $ 17,933 $ 53 $ 24,751 $ (306) $ (6,565)
Balance (in shares) at Dec. 31, 20195,322,849

Basis of Presentation

Basis of Presentation3 Months Ended
Mar. 31, 2020
Basis of Presentation [Abstract]
Basis of PresentationNote A: Basis of Presentation Image Sensing Systems, Inc. (referred to in this Quarterly Report on Form 10-Q as "we," "us," "our" and the "Company") develops and markets video and radar processing products for use in applications such as intersection control, highway, bridge and tunnel traffic management and traffic data collection. We sell our products primarily to distributors and also receive royalties under a license agreement with a manufacturer/distributor for certain of our products. Our products are used primarily by governmental entities. The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to the Quarterly Report on Form 10-Q, which require the Company to make estimates and assumptions that affect amounts reported. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. It is the opinion of management that the unaudited condensed consolidated financial statements include all adjustments consisting of normal recurring accruals considered necessary for a fair presentation. All significant intercompany balances and transactions have been eliminated. Operating results for the three March 31, 2020 Summary of Significant Accounting Policies The Company believes that of its significant accounting policies, the following are particularly important to the portrayal of the Company's results of operations and financial position and may require the application of a higher level of judgment by the Company's management and, as a result, are subject to an inherent degree of uncertainty. Revenue Recognition On January 1, 2018, we adopted Accounting Standards Update ("ASU") No. 2014 09 606 2014 09 Under ASU 2014 09
We determine revenue recognition through the following steps:
● Identification of a contract, or contracts, with a customer;
● Identification of performance obligations in the contract;
● Determination of the transaction price;
● Allocation of the transaction price to the performance obligations in the contract; and
● Recognition of revenue when, or as, we satisfy a performance obligation. Revenue disaggregated by revenue source for the three months ended March 31, 2020 and 2019 consists of the following (in thousands); revenue excludes sales and usage-based taxes when or if it has been determined that we are acting as a pass-through agent:
Three Months Ended March 31,
2020 2019
Product sales $ 1,050 $ 1,621
Royalties 2,109 1,751
Total revenue $ 3,159 $ 3,372
Product Sales: Product revenue is generated primarily from the direct sales of our RTMS radar systems worldwide and our Autoscope video systems in Europe and Asia. Revenue is recognized when control of the promised goods or services is transferred to our customers in an amount that reflects the amount we expect to receive in exchange for those goods or services. Certain product sales may contain multiple performance obligations for revenue recognition purposes. Multiple performance obligations may include hardware, software, installation services, training, and support. For performance obligations without observable stand-alone prices charged to customers Revenue for services such as maintenance, repair, and technical support is recognized either as the service is performed or ratably over the defined contractual period for service maintenance contracts. From time to time, our payment terms may vary by the type and location of our customer and the products or services offered. We record deferred revenues when cash payments are received or due in advance of our performance, including amounts which are refundable. We record provisions against sales revenue for estimated returns and allowances in the period when the related revenue is recorded based on historical sales returns and changes in end user demand. Royalties: Econolite Control Products, Inc. (“Econolite”) is our licensee that sells our Autoscope video system products in the United States, Mexico, Canada and the Caribbean. The royalty of approximately 50% of the gross profit on licensed products is recognized when the products are shipped or delivered by Econolite to its customers. Practical Expedients and Exemptions: We generally expense sales commissions when incurred because the amortization periods would have been one year We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year Inventories Inventories are primarily electronic components and finished goods and are valued at the lower of cost or net realizable value determined under the first-in, first-out accounting method. Income Taxes We record a tax provision for the anticipated tax consequences of our reported results of operations. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those deferred tax assets and liabilities are expected to be realized or settled. We record a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. We believe it is more likely than not that forecasted income, including income that may be generated as a result of certain tax planning strategies, together with the tax effects of the deferred tax liabilities, will be sufficient to fully recover the remaining net realizable value of our deferred tax assets. If all or part of the net deferred tax assets are determined not to be realizable in the future, an adjustment to the valuation allowance would be charged to earnings in the period such determination is made. In addition, the calculation of tax liabilities involves significant judgment in estimating the impact of uncertainties in the application of complex tax laws. Resolution of these uncertainties in a manner inconsistent with management’s expectations could have a material impact on our financial condition and operating results. We recognize penalties and interest expense related to unrecognized tax benefits in income tax expense. Intangible Assets We capitalize certain software development costs related to software to be sold, leased, or otherwise marketed. Capitalized software development costs include purchased materials, services, internal labor and other costs associated with the development of new products and services. Software development costs are expensed as incurred until technological feasibility has been established, at which time future costs incurred are capitalized until the product is available for general release to the public. Based on our product development process, technological feasibility is generally established once product and detailed program designs have been completed, uncertainties related to high-risk development issues have been resolved through coding and testing, and we have established that the necessary skills, hardware, and software technology are available for production of the product. Once a software product is available for general release to the public, capitalized development costs associated with that product will begin to be amortized to cost of sales over the product's estimated economic selling life, using the greater of straight-line or a method that results in cost recognition in future periods that is consistent with the anticipated timing of product revenue recognition. Capitalized software development costs are subject to an ongoing assessment of recoverability, which is impacted by estimates and assumptions of future revenues and expenses for these software products, as well as other factors such as changes in product technologies. Any portion of unamortized capitalized software development costs that are determined to be in excess of net realizable value have been expensed in the period in which such a determination is made. Subsequent to reaching technological feasibility for certain software products, we capitalized approximately $22,000 and $419,000 of software development costs during the quarters ended March 31, 2020 Intangible assets with finite lives are amortized on a straight - line basis over the expected period to be benefited by future cash flows and reviewed for impairment. At both March 31, 2020 - lived intangible assets.

Recent Accounting Pronouncement

Recent Accounting Pronouncements3 Months Ended
Mar. 31, 2020
Recent Accounting Pronouncements [Abstract]
Recent Accounting PronouncementsNote B: Recent Accounting Pronouncements Accounting pronouncements recently adopted In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-02, "Leases (Topic 842)". We adopted ASU 2016-02 and its amendments and elected the effective date transition method as of January 1, 2019, which included recognizing a cumulative effect adjustment through opening accumulated deficit as of that date. Prior year amounts were not recast under the transition approach and, therefore, prior year amounts are excluded from the operating leases footnote. See Note E: Operating Leases In June 2018, the FASB issued ASU No. 2018-07 , "Compensation-Stock Compensation (Topic 718)". ASU 2018-07 largely aligns the accounting for share-based payment awards issued to employees and by expanding the scope of Accounting Standards Codification 718 to apply to share-based transactions as long as the transaction is not effectively a form of financing. We adopted ASU No. 2018-07 as of January 1, 2019. There was no impact to the Company's consolidated financial statements. In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, "Disclosure Update and Simplification," amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders' equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders' equity presented in the balance sheet must be provided in a note or separate statement. The analysis must present a reconciliation of the beginning balance to the ending balance for each period for which a statement of comprehensive income is required to be filed. We adopted these changes as of January 1, 2019. In August 2018, the FASB issued ASU No. 2018-13, "Fair Value Measurements (Topic 820)." ASU 2018-13 eliminates, amends and adds disclosure requirements for fair value measurements. The standard is required to be adopted for annual periods beginning after December 15, 2019, including interim periods within that annual period, which is our fiscal year 2020. We adopted these changes as of January 1, 2020; however, there are no required changes that apply to our fair value measurements disclosures.

Fair Value Measurements

Fair Value Measurements3 Months Ended
Mar. 31, 2020
Fair Value Measurements [Abstract]
Fair Value MeasurementsNote C: Fair Value Measurements The guidance for fair value measurements establishes the authoritative definition of fair value, sets out a framework for measuring fair value and outlines the required disclosures regarding fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. We use a three
Level 1:
observable inputs such as quoted prices in active markets;
Level 2:
inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and
Level 3:
unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Nonfinancial Assets Measured at Fair Value on a Nonrecurring Basis Our intangible assets and other long-lived assets are nonfinancial assets that were acquired either as part of a business combination, individually or with a group of other assets. These nonfinancial assets were initially, and have historically been, measured and recognized at amounts equal to the fair value determined as of the date of acquisition. Financial Instruments not Measured at Fair Value Certain of our financial instruments are not measured at fair value and are recorded at carrying amounts approximating fair value, based on their short-term nature or variable interest rate. These financial instruments include cash and cash equivalents, accounts receivable, accounts payable and other current financial assets and liabilities.

Inventories

Inventories3 Months Ended
Mar. 31, 2020
Inventories [Abstract]
InventoriesNote D: Inventories Inventories consisted of the following (in thousands):
March 31, 2020 December 31, 2019
Finished goods $ 534 $ 551
Components 152 230
Total $ 686 $ 781

Operating Leases

Operating Leases3 Months Ended
Mar. 31, 2020
Operating Leases [Abstract]
Operating LeasesNote E: Operating Leases
On January 1, 2019, we adopted ASU No. 2016 02 Leases (Topic 842 The Company is subject to various non-cancelable operating leases for office space and IT equipment expiring at various dates through November 2022. These leases do not have significant rent escalation, holidays, concessions, leasehold improvement incentives, or other build-out clauses. Further, the leases do not contain contingent rent provisions. Most of these leases include an Because most of our leases do not provide an implicit rate, we use our incremental borrowing rate in determining the present value of the lease payments. The incremental borrowing rate represents an estimate of the interest rate we would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease. We used incremental borrowing rates as of January 1, 2019 for operating leases that commenced prior to that date. We have a centrally managed treasury function; therefore, based on the applicable lease terms and the current economic environment, we apply a portfolio approach for determining the incremental borrowing rate. The
Three Periods Ended March 31,
2020 2019
Operating lease costs $ 66 $ 65
Variable lease cost 76 76
Total $ 142 $ 141 Variable lease costs consist primarily of property taxes, insurance, and common area or other maintenance costs for our leased facilities and equipment, which are paid based on actual costs incurred by the lessor. Maturities for our lease liabilities for all operating leases are as follows (in thousands) as of March 31, 2020:
Total
2020 $ 102
2021 8
2022 7
2023 and thereafter —
Total lease payments 117
Less: Interest (2 )
Present value of lease liabilities $ 115 The weighted average remaining lease terms and discount rates for all of our operating leases were as follows as of March 31, 2020:
March 31, 2020
Remaining lease term and discount rate:
Weighted average remaining lease term (years) 0.84
Weighted average discount rate 4.75 % Cash paid for amounts included in the measurement of operating lease liabilities was $67,000 and $65,000 for the three months ended March 31, 2020 and 2019, respectively, and this amount is included in operating activities in the condensed consolidated statements of cash flows. Separate from the initial recognition of the existing leases, there were no operating lease assets obtained in exchange for new operating lease liabilities for the three months ended March 31, 2020 and 2019.

Intangible Assets

Intangible Assets3 Months Ended
Mar. 31, 2020
Intangible Assets [Abstract]
Intangible AssetsNote F: Intangible Assets Intangible assets consisted of the following (dollars in thousands):
March 31, 2020
Weighted
Gross
Net
Average
Carrying
Accumulated
Carrying
Useful Life
Amount
Amortization
Value
(in Years)
Developed technology
$
3,900
$
(3,900 )
$


Vision development costs
2,929
(1,278 )
1,651
8.0
Echo development costs
1,852
(44 )
1,808
7.0
IntellitraffiQ development costs
468
(205 )
263
4.0
Wrong Way development costs
228
(228 )


Total
$
9,377
$
(5,655 )
$
3,722
7.3
December 31, 2019
Weighted
Gross
Net
Average
Carrying
Accumulated
Carrying
Useful Life
Amount
Amortization
Value
(in Years)
Developed technology
$
3,900
$
(3,900
)
$


Vision development costs
2,929
(1,186
)
1,743
8.0
Software development in process costs
1,830

1,830

IntellitraffiQ development costs 468 (176 ) 292 4.0
Wrong Way development costs
228 (218 ) 10 2.0
Total
$
9,355
$
(5,480
)
$
3,875
7.1

Warranties

Warranties3 Months Ended
Mar. 31, 2020
Warranties [Abstract]
WarrantiesNote G: Warranties We generally provide a two three year Warranty liability and related activity consisted of the following (in thousands):
Three-Month Periods Ended March 31,
2020
2019
Beginning balance
$
313
$
656
Warranty provisions
7
30
Warranty claims
(23 )
(33
)
Adjustments to preexisting warranties
(75 )
(81
)
Currency
(2 )
(1
)
Ending balance
$
220
$
573

Stock-Based Compensation

Stock-Based Compensation3 Months Ended
Mar. 31, 2020
Stock-Based Compensation [Abstract]
Stock-Based CompensationNote H: Stock-Based Compensation We compensate officers, directors, key employees and consultants with stock-based compensation under the Image Sensing Systems, Inc. 2014 Stock Option and Incentive Plan (the "2014 Plan"), which was approved by our shareholders and is administered under the supervision of our Board of Directors. The Image Sensing Systems, Inc. 2005 Stock Incentive Plan (the "2005 Plan") expired in 2015, and there are no options or other awards outstanding under the 2005 Plan. Stock option awards are granted at exercise prices equal to the closing price of our stock on the day before the date of grant. Generally, options vest ratably over periods of three one nine Compensation expense, net of estimated forfeitures, is recognized ratably over the vesting period. Stock-based compensation expense included in general and administrative expense for the three-month periods ended March 31, 2020 and 2019 was $59,000 and $ 50,000, At March 31, 2020, 5,331,799 shares were available for grant under the Company's 2014 Plan. Stock Options A summary of the stock option activity for the first three 2020
Number of Shares Weighted Weighted Aggregate
Options outstanding at December 31, 2019 16,000 $ 4.73 3.97 $ 3,505
Granted — $ — — $ —
Exercised — $ — — $ —
Expired — $ — — $ —
Forfeited — $ — — $ —
Options outstanding at March 31, 2020 16,000 $ 4.73 3.72 $ —
Options exercisable at March 31, 2020 16,000 $ 4.73 3.72 $ — There were no stock options exercised during the three-month period ended March 31, 2020 and there were stock options exercised to purchase 1,000 shares in the three-month period ended March 31, 2019. During each of the three-month periods ended March 31, 2020 and 2019, we recognized no stock-based compensation expense related to stock options. As of March 31, 2020, there was no unrecognized compensation cost related to non-vested stock options. Restricted Stock Awards and Stock Awards Restricted stock awards are granted under the 2014 Plan at the discretion of the Compensation Committee of our Board of Directors. We issue restricted stock awards to executive officers and key consultants. These awards may contain certain performance conditions or time-based vesting criteria. The restricted stock awards granted to executive officers vest if the various performance or time-based metrics are met. Stock-based compensation is recognized for the number of awards expected to vest at the end of the period and is expensed beginning on the grant date through the end of the vesting period. At the time of vesting of the restricted stock awards, the recipients of common stock may request to receive a net of the number of shares required for employee withholding taxes, which can be withheld up to the relevant jurisdiction's maximum statutory rate. Compensation expense related to any stock awards issued to employees is determined on the grant date based on the publicly-quoted fair market value of our common stock and is charged to earnings on the grant date. We also issue stock awards as a portion of the annual retainer for each director on a quarterly basis. The stock awards are fully vested at the time of issuance.
The following table summarizes restricted stock award activity for the first three 2020
Number of
Weighted
Awards outstanding December 31, 2019
58,961
$
4.32
Granted
8,950
3.49
Vested
(26,802 )
3.75
Forfeited


Awards outstanding at March 31, 2020
41,109
$
4.52
As of March 31, 2020, the total stock-based compensation expense related to non-vested awards not yet recognized was $152,000, which is expected to be recognized over a weighted average period of 1.8 years. During the three-month periods ended March 31, 2020 and March 31, 2019, we recognized $59,000 and $50,000, respectively, of stock-based compensation expense related to restricted stock awards.

Income (Loss) per Common Share

Income (Loss) per Common Share3 Months Ended
Mar. 31, 2020
Income (Loss) per Common Share [Abstract]
Income (Loss) per Common ShareNote I: Income (Loss) per Common Share Net income (loss) per share is computed by dividing net income (loss) by the daily weighted average number of common shares outstanding during the applicable periods. Diluted net income (loss) per share includes the potentially dilutive effect of common shares subject to outstanding stock options and restricted stock awards using the treasury stock method. Under the treasury stock method, shares subject to certain outstanding stock options and restricted stock awards have been excluded from the calculation of the diluted weighted average shares outstanding because the exercise of those options or the vesting of those restricted stock awards would lead to a net reduction in common shares outstanding. As a result, stock options and restricted stock awards to acquire 27,139 and 23,000 weighted common shares have been excluded from the diluted weighted shares outstanding for the three-month periods ended March 31, 2020 and 2019, respectively . A reconciliation of net income (loss) per share is as follows (in thousands, except per share data):
Three-Month Periods Ended March 31,
2020 2019
Numerator:
Net income (loss) $ (111 ) $ 308
Denominator:
Weighted average common shares outstanding 5,267 5,224
Dilutive potential common shares — 19
Shares used in diluted net income (loss) per common share calculations 5,267 5,243
Basic net income (loss) per common share $ (0.02 ) $ 0.06
Diluted net income (loss) per common share $ (0.02 ) $ 0.06

Segment Information

Segment Information3 Months Ended
Mar. 31, 2020
Segment Information [Abstract]
Segment InformationNote J: Segment Information The Company's Chief Executive Officer and management regularly review financial information for the Company's discrete operating segments. Based on similarities in the economic characteristics, nature of products and services, production processes, type or class of customer served, method of distribution and regulatory environments, the operating segments have been aggregated for financial statement purposes and categorized into two Autoscope video is our machine-vision product line, and revenue consists of royalties (all of which are received from Econolite), as well as a portion of international product sales. Video products are normally sold in the Intersection segment. RTMS is our radar product line, and revenue consists of international and North American product sales. Radar products are normally sold in the Highway segment. All segment revenues are derived from external customers. Operating expenses and total assets are not allocated to the segments for internal reporting purposes. Due to the changes in how we manage our business, we may reevaluate our segment definitions in the future. The following table sets forth selected unaudited financial information for each of our reportable segments (in thousands):
Three Months Ended March 31,
Intersection
Highway
Total
2020
2019
2020
2019
2020
2019
Revenue
$
2,250
$
2,072
$
909
$
1,300
$
3,159
$
3,372
Gross profit
2,069
1,792
467
803
2,536
2,595
Amortization of intangible assets
92
92
82
58
174
150
Intangible assets
1,651
2,018
2,071
1,568
3,722
3,586

Restructuring and Exit Activiti

Restructuring and Exit Activities3 Months Ended
Mar. 31, 2020
Restructuring and Exit Activities [Abstract]
Restructuring and Exit ActivitiesNote K: Restructuring and Exit Activities In the third quarter of 2018 $0 In the third quarter of 2016, in order to streamline our operating and cost structure, we initiated the closure of our wholly-owned subsidiaries, Image Sensing Systems HK Limited (ISS HK) in Hong Kong; Image Sensing Systems (Shenzhen) Limited (ISS WOFE) in China; Image Sensing Systems Europe Limited (ISS Europe) in the United Kingdom; Image Sensing Systems Europe Limited SP.Z.O.O (ISS Poland) in Poland; and Image Sensing Systems Germany, GmbH (ISS Germany) in Germany. At December 31, 2018, Image Sensing Systems Europe Limited and Image Sensing Systems Europe Limited SP.Z.O.O were fully closed. At December 31, 2019, Image Sensing Systems Germany, GmbH was fully closed. During the first quarter of 2020, we initiated closure of Image Sensing Systems EMEA Limited (ISS UK) and Image Sensing Systems Holdings Limited (ISS Holdings). We incurred $30,000 and $0, respectively, for these entity closure costs in the three-month periods ended March 31, 2020 and March 31, 2019.

Commitments and Contingencies

Commitments and Contingencies3 Months Ended
Mar. 31, 2020
Commitments and Contingencies [Abstract]
Commitments and ContingenciesNote L: Commitments and Contingencies Litigation We are involved from time to time in various legal proceedings arising in the ordinary course of our business, including primarily commercial, product liability, employment and intellectual property claims. In accordance with GAAP, we record a liability in our Consolidated Financial Statements with respect to any of these matters when it is both probable t one

Subsequent Events

Subsequent Events3 Months Ended
Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent EventsNote M: Subsequent Events The ramifications of the coronavirus (“COVID-19”) outbreak reported to have started in December 2019 and spread globally are filled with uncertainty and changing quickly. The Company is considered an essential service and has remained operational. On April 13, 2020, Econolite informed the Company that Econolite had agreed to temporarily close its manufacturing facility in Tecate, Mexico, under guidance from the local government due to COVID-19. Based on information obtained by the Company, Econolite has made alternative arrangements to manufacture Autoscope and related products that had been manufactured at its Mexican facility. We do not know whether the plant remains closed. The COVID-19 pandemic began to impact our operations late in the first quarter of 2020 and is likely to continue to adversely affect our business and results of operations, including as a result of government authorities imposing mandatory closures, work-from-home orders and social distancing protocols, or imposing other restrictions. These actions could materially adversely affect our ability to adequately staff and maintain our operations, impair our ability to sustain sufficient financial liquidity, and adversely impact our financial results. At this time, the Company has not experienced any payment interruptions or requests for special terms. The COVID-19 pandemic has resulted, and is likely to continue to result, in significant economic disruption and has and will likely to continue to adversely affect our business and results of operations. Although these disruptions are expected to be temporary, significant uncertainty exists concerning the magnitude of the impact and duration of the COVID-19 pandemic. As we cannot predict the duration or scope of the COVID-19 pandemic, the anticipated negative financial impact to our results of operations cannot be reasonably estimated but could be material and last for an extended period of time. Under the Paycheck Protection Program (the “PPP”), the United States Small Business Administration (the “SBA”) approved the application of the Company to receive a loan in the amount of $ 923,700 Under the terms of the CARES Act, PPP loan recipients can apply for and be granted forgiveness for all or a portion of loans made under the PPP after eight weeks if the recipients use the PPP loan proceeds for eligible purposes, including payroll costs, mortgage interest, rent or utility costs and meet other requirements regarding, among other things, the maintenance of employment and compensation levels. The Company intends to use the entire PPP Loan amount for qualifying expenses and to apply for forgiveness of the loan in accordance with the terms of the CARES Act.

Basis of Presentation (Policies

Basis of Presentation (Policies)3 Months Ended
Mar. 31, 2020
Basis of Presentation [Abstract]
Revenue RecognitionRevenue Recognition On January 1, 2018, we adopted Accounting Standards Update ("ASU") No. 2014 09 606 2014 09 Under ASU 2014 09
We determine revenue recognition through the following steps:
● Identification of a contract, or contracts, with a customer;
● Identification of performance obligations in the contract;
● Determination of the transaction price;
● Allocation of the transaction price to the performance obligations in the contract; and
● Recognition of revenue when, or as, we satisfy a performance obligation. Revenue disaggregated by revenue source for the three months ended March 31, 2020 and 2019 consists of the following (in thousands); revenue excludes sales and usage-based taxes when or if it has been determined that we are acting as a pass-through agent:
Three Months Ended March 31,
2020 2019
Product sales $ 1,050 $ 1,621
Royalties 2,109 1,751
Total revenue $ 3,159 $ 3,372
Product Sales: Product revenue is generated primarily from the direct sales of our RTMS radar systems worldwide and our Autoscope video systems in Europe and Asia. Revenue is recognized when control of the promised goods or services is transferred to our customers in an amount that reflects the amount we expect to receive in exchange for those goods or services. Certain product sales may contain multiple performance obligations for revenue recognition purposes. Multiple performance obligations may include hardware, software, installation services, training, and support. For performance obligations without observable stand-alone prices charged to customers Revenue for services such as maintenance, repair, and technical support is recognized either as the service is performed or ratably over the defined contractual period for service maintenance contracts. From time to time, our payment terms may vary by the type and location of our customer and the products or services offered. We record deferred revenues when cash payments are received or due in advance of our performance, including amounts which are refundable. We record provisions against sales revenue for estimated returns and allowances in the period when the related revenue is recorded based on historical sales returns and changes in end user demand. Royalties: Econolite Control Products, Inc. (“Econolite”) is our licensee that sells our Autoscope video system products in the United States, Mexico, Canada and the Caribbean. The royalty of approximately 50% of the gross profit on licensed products is recognized when the products are shipped or delivered by Econolite to its customers. Practical Expedients and Exemptions: We generally expense sales commissions when incurred because the amortization periods would have been one year We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year
InventoriesInventories Inventories are primarily electronic components and finished goods and are valued at the lower of cost or net realizable value determined under the first-in, first-out accounting method.
Income TaxesIncome Taxes We record a tax provision for the anticipated tax consequences of our reported results of operations. Deferred tax assets and liabilities are measured using the currently enacted tax rates that apply to taxable income in effect for the years in which those deferred tax assets and liabilities are expected to be realized or settled. We record a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. We believe it is more likely than not that forecasted income, including income that may be generated as a result of certain tax planning strategies, together with the tax effects of the deferred tax liabilities, will be sufficient to fully recover the remaining net realizable value of our deferred tax assets. If all or part of the net deferred tax assets are determined not to be realizable in the future, an adjustment to the valuation allowance would be charged to earnings in the period such determination is made. In addition, the calculation of tax liabilities involves significant judgment in estimating the impact of uncertainties in the application of complex tax laws. Resolution of these uncertainties in a manner inconsistent with management’s expectations could have a material impact on our financial condition and operating results. We recognize penalties and interest expense related to unrecognized tax benefits in income tax expense.
Intangible AssetsIntangible Assets We capitalize certain software development costs related to software to be sold, leased, or otherwise marketed. Capitalized software development costs include purchased materials, services, internal labor and other costs associated with the development of new products and services. Software development costs are expensed as incurred until technological feasibility has been established, at which time future costs incurred are capitalized until the product is available for general release to the public. Based on our product development process, technological feasibility is generally established once product and detailed program designs have been completed, uncertainties related to high-risk development issues have been resolved through coding and testing, and we have established that the necessary skills, hardware, and software technology are available for production of the product. Once a software product is available for general release to the public, capitalized development costs associated with that product will begin to be amortized to cost of sales over the product's estimated economic selling life, using the greater of straight-line or a method that results in cost recognition in future periods that is consistent with the anticipated timing of product revenue recognition. Capitalized software development costs are subject to an ongoing assessment of recoverability, which is impacted by estimates and assumptions of future revenues and expenses for these software products, as well as other factors such as changes in product technologies. Any portion of unamortized capitalized software development costs that are determined to be in excess of net realizable value have been expensed in the period in which such a determination is made. Subsequent to reaching technological feasibility for certain software products, we capitalized approximately $22,000 and $419,000 of software development costs during the quarters ended March 31, 2020 Intangible assets with finite lives are amortized on a straight - line basis over the expected period to be benefited by future cash flows and reviewed for impairment. At both March 31, 2020 - lived intangible assets.

Basis of Presentation (Tables)

Basis of Presentation (Tables)3 Months Ended
Mar. 31, 2020
Basis of Presentation [Abstract]
Schedule of revenue disaggregated by revenue sourceRevenue disaggregated by revenue source for the three months ended March 31, 2020 and 2019 consists of the following (in thousands); revenue excludes sales and usage-based taxes when or if it has been determined that we are acting as a pass-through agent:
Three Months Ended March 31,
2020 2019
Product sales $ 1,050 $ 1,621
Royalties 2,109 1,751
Total revenue $ 3,159 $ 3,372

Inventories (Tables)

Inventories (Tables)3 Months Ended
Mar. 31, 2020
Inventories [Abstract]
Schedule of InventoriesInventories consisted of the following (in thousands):
March 31, 2020 December 31, 2019
Finished goods $ 534 $ 551
Components 152 230
Total $ 686 $ 781

Operating Leases (Tables)

Operating Leases (Tables)3 Months Ended
Mar. 31, 2020
Operating Leases [Abstract]
Schedule of components of our costs for operating leasesThe
Three Periods Ended March 31,
2020 2019
Operating lease costs $ 66 $ 65
Variable lease cost 76 76
Total $ 142 $ 141
Schedule of the future maturities of lease liabilitiesMaturities for our lease liabilities for all operating leases are as follows (in thousands) as of March 31, 2020:
Total
2020 $ 102
2021 8
2022 7
2023 and thereafter —
Total lease payments 117
Less: Interest (2 )
Present value of lease liabilities $ 115
Remaining lease term and discount rateThe weighted average remaining lease terms and discount rates for all of our operating leases were as follows as of March 31, 2020:
March 31, 2020
Remaining lease term and discount rate:
Weighted average remaining lease term (years) 0.84
Weighted average discount rate 4.75 %

Intangible Assets (Tables)

Intangible Assets (Tables)3 Months Ended
Mar. 31, 2020
Intangible Assets [Abstract]
Schedule of intangible assetsIntangible assets consisted of the following (dollars in thousands):
March 31, 2020
Weighted
Gross
Net
Average
Carrying
Accumulated
Carrying
Useful Life
Amount
Amortization
Value
(in Years)
Developed technology
$
3,900
$
(3,900 )
$


Vision development costs
2,929
(1,278 )
1,651
8.0
Echo development costs
1,852
(44 )
1,808
7.0
IntellitraffiQ development costs
468
(205 )
263
4.0
Wrong Way development costs
228
(228 )


Total
$
9,377
$
(5,655 )
$
3,722
7.3
December 31, 2019
Weighted
Gross
Net
Average
Carrying
Accumulated
Carrying
Useful Life
Amount
Amortization
Value
(in Years)
Developed technology
$
3,900
$
(3,900
)
$


Vision development costs
2,929
(1,186
)
1,743
8.0
Software development in process costs
1,830

1,830

IntellitraffiQ development costs 468 (176 ) 292 4.0
Wrong Way development costs
228 (218 ) 10 2.0
Total
$
9,355
$
(5,480
)
$
3,875
7.1

Warranties (Tables)

Warranties (Tables)3 Months Ended
Mar. 31, 2020
Warranties [Abstract]
Warranty liability and related activityWarranty liability and related activity consisted of the following (in thousands):
Three-Month Periods Ended March 31,
2020
2019
Beginning balance
$
313
$
656
Warranty provisions
7
30
Warranty claims
(23 )
(33
)
Adjustments to preexisting warranties
(75 )
(81
)
Currency
(2 )
(1
)
Ending balance
$
220
$
573

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)3 Months Ended
Mar. 31, 2020
Stock-Based Compensation [Abstract]
Schedule of stock option activityA summary of the stock option activity for the first three 2020
Number of Shares Weighted Weighted Aggregate
Options outstanding at December 31, 2019 16,000 $ 4.73 3.97 $ 3,505
Granted — $ — — $ —
Exercised — $ — — $ —
Expired — $ — — $ —
Forfeited — $ — — $ —
Options outstanding at March 31, 2020 16,000 $ 4.73 3.72 $ —
Options exercisable at March 31, 2020 16,000 $ 4.73 3.72 $ —
Table summarizes restricted stock award activityThe following table summarizes restricted stock award activity for the first three 2020
Number of
Weighted
Awards outstanding December 31, 2019
58,961
$
4.32
Granted
8,950
3.49
Vested
(26,802 )
3.75
Forfeited


Awards outstanding at March 31, 2020
41,109
$
4.52

Income (Loss) per Common Share

Income (Loss) per Common Share (Tables)3 Months Ended
Mar. 31, 2020
Income (Loss) per Common Share [Abstract]
Schedule of reconciliation of net income (loss) per shareA reconciliation of net income (loss) per share is as follows (in thousands, except per share data):
Three-Month Periods Ended March 31,
2020 2019
Numerator:
Net income (loss) $ (111 ) $ 308
Denominator:
Weighted average common shares outstanding 5,267 5,224
Dilutive potential common shares — 19
Shares used in diluted net income (loss) per common share calculations 5,267 5,243
Basic net income (loss) per common share $ (0.02 ) $ 0.06
Diluted net income (loss) per common share $ (0.02 ) $ 0.06

Segment Information (Tables)

Segment Information (Tables)3 Months Ended
Mar. 31, 2020
Segment Information [Abstract]
Schedule of financial information by reportable segmentThe following table sets forth selected unaudited financial information for each of our reportable segments (in thousands):
Three Months Ended March 31,
Intersection
Highway
Total
2020
2019
2020
2019
2020
2019
Revenue
$
2,250
$
2,072
$
909
$
1,300
$
3,159
$
3,372
Gross profit
2,069
1,792
467
803
2,536
2,595
Amortization of intangible assets
92
92
82
58
174
150
Intangible assets
1,651
2,018
2,071
1,568
3,722
3,586

Basis of Presentation (Details

Basis of Presentation (Details Narrative) - USD ($)3 Months Ended
Mar. 31, 2020Mar. 31, 2019
Royalty percentage of gross profit on licensed products50.00%
Amortization period for expense sales commissions incurred, maximum1 year
Period for the value of unsatisfied performance obligations which are not disclosed1 year
Software development costs capitalized $ 22,000 $ 419,000
Impairment of intangible assets0 0
Indefinite‑lived intangible assets $ 0 $ 0

Basis of Presentation (Detail_2

Basis of Presentation (Details 2) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2020Mar. 31, 2019
Total Revenue $ 3,159 $ 3,372
Product sales [Member]
Total Revenue1,050 1,621
Royalties [Member]
Total Revenue $ 2,109 $ 1,751

Inventories (Details)

Inventories (Details) - USD ($) $ in ThousandsMar. 31, 2020Dec. 31, 2019
Inventories [Abstract]
Finished goods $ 534 $ 551
Components152 230
Total $ 686 $ 781

Operating Leases (Details)

Operating Leases (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2020Mar. 31, 2019
Operating Leases [Abstract]
Operating lease cost $ 66 $ 65
Variable lease cost76 76
Total $ 142 $ 141

Operating Leases (Details 2)

Operating Leases (Details 2) $ in ThousandsMar. 31, 2020USD ($)
Operating Leases [Abstract]
2020 $ 102
20218
20227
2023 and thereafter0
Total lease payments117
Less: Interest(2)
Present value of lease liabilities $ 115

Operating Leases (Details 3)

Operating Leases (Details 3)Mar. 31, 2020
Remaining lease term and discount rate:
Weighted average remaining lease term (years)10 months 2 days
Weighted average discount rate4.75%

Operating Leases (Narrative) (D

Operating Leases (Narrative) (Details) - USD ($)3 Months Ended
Mar. 31, 2020Mar. 31, 2019Dec. 31, 2018
Operating Leases [Abstract]
Operating lease asset $ 431,000
Operating lease obligation $ 431,000
Cash paid operating lease costs $ 67,000 $ 65,000

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands3 Months Ended12 Months Ended
Mar. 31, 2020Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount $ 9,377 $ 9,355
Accumulated Amortization(5,655)(5,480)
Net Carrying Value $ 3,722 $ 3,875
Weighted Average Useful Life7 years 3 months 18 days7 years 1 month 6 days
Developed technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount $ 3,900 $ 3,900
Accumulated Amortization(3,900)(3,900)
Net Carrying Value0 0
Vision development costs [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount2,929 2,929
Accumulated Amortization(1,278)(1,186)
Net Carrying Value $ 1,651 $ 1,743
Weighted Average Useful Life8 years8 years
Echo development costs [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount $ 1,852
Accumulated Amortization(44)
Net Carrying Value $ 1,808
Weighted Average Useful Life7 years
Software development in process costs [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount $ 1,830
Accumulated Amortization0
Net Carrying Value1,830
IntellitraffiQ Development Costs [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount $ 468 468
Accumulated Amortization(205)(176)
Net Carrying Value $ 263 $ 292
Weighted Average Useful Life4 years4 years
Wrong Way Development Costs [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount $ 228 $ 228
Accumulated Amortization(228)(218)
Net Carrying Value $ 0 $ 10
Weighted Average Useful Life2 years

Warranties (Details)

Warranties (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2020Mar. 31, 2019
Product Warranty Liability [Line Items]
Beginning balance $ 313 $ 656
Warranty provisions7 30
Warranty claims(23)(33)
Adjustments to preexisting warranties(75)(81)
Currency(2)(1)
Ending balance $ 220 $ 573
Minimum [Member]
Product Warranty Liability [Line Items]
Product Warranty Period2 years
Maximum [Member]
Product Warranty Liability [Line Items]
Product Warranty Period3 years

Stock-Based Compensation (Detai

Stock-Based Compensation (Details Narrative) - USD ($)3 Months Ended
Mar. 31, 2020Mar. 31, 2019Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options or other awards outstanding16,000 16,000
Stock-based compensation expense $ 59,000 $ 50,000
Shares available for grant5,331,799
Stock option exercised0
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option awards, vesting term3 years
Stock option awards, contractual term9 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option awards, vesting term5 years
Stock option awards, contractual term10 years
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options or other awards outstanding0
Stock-based compensation expense $ 0 $ 0
Unrecognized compensation cost related to non-vested stock awards $ 0
Stock option exercised0 1,000
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense $ 59,000 $ 50,000
Unrecognized compensation cost related to non-vested stock awards $ 152,000
Period for recognition of unrecognized compensation cost related to non-vested stock awards1 year 9 months 18 days
Vesting rights description of stock awards grantedThe restricted stock awards granted to executive officers vest if the various performance or time-based metrics are met.

Stock-Based Compensation (Det_2

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended12 Months Ended
Mar. 31, 2020Dec. 31, 2019
Number of Shares
Outstanding - beginning of period16,000
Granted0
Exercised0
Expired0
Forfeited0
Outstanding - end of period16,000 16,000
Exercisable - end of period16,000
Weighted Average Exercise Price per Share
Outstanding - beginning of period $ 4.73
Granted0
Exercised0
Expired0
Forfeited0
Outstanding - end of period4.73 $ 4.73
Exercisable - end of period $ 4.73
Weighted Average Remaining Contractual Term
Options outstanding3 years 8 months 19 days3 years 11 months 19 days
Options exercisable3 years 8 months 19 days
Aggregate Intrinsic Value
Outstanding - beginning of period $ 3,505
Granted0
Exercised0
Expired0
Forfeited0
Outstanding - end of period0 $ 3,505
Options exercisable $ 0

Stock-Based Compensation (Det_3

Stock-Based Compensation (Details 2)3 Months Ended
Mar. 31, 2020$ / sharesshares
Number of Shares
Awards outstanding at beginning of year | shares58,961
Granted | shares8,950
Vested | shares(26,802)
Forfeited | shares0
Awards outstanding at end of year | shares41,109
Weighted Average grant date fair value
Outstanding at beginning of year | $ / shares $ 4.32
Granted | $ / shares3.49
Vested | $ / shares3.75
Forfeited | $ / shares0
Outstanding at end of year | $ / shares $ 4.52

Income (Loss) per Common Shar_2

Income (Loss) per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended
Mar. 31, 2020Mar. 31, 2019
Numerator:
Net income (loss) $ (111) $ 308
Denominator:
Weighted average common shares outstanding5,267,000 5,224,000
Dilutive potential common shares0 19,000
Shares used in diluted net income (loss) per common share calculations5,267,000 5,243,000
Basic net income (loss) per common share $ (0.02) $ 0.06
Diluted net income (loss) per common share $ (0.02) $ 0.06
Shares excluded from diluted weighted shares outstanding27,139 23,000

Segment Information (Details)

Segment Information (Details) $ in Thousands3 Months Ended
Mar. 31, 2020USD ($)Mar. 31, 2019USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments2
Revenue $ 3,159 $ 3,372
Gross profit2,536 2,595
Amortization of intangible assets174 150
Intangible assets3,722 3,586
Intersection [Member]
Segment Reporting Information [Line Items]
Revenue2,250 2,072
Gross profit2,069 1,792
Amortization of intangible assets92 92
Intangible assets1,651 2,018
Highway [Member]
Segment Reporting Information [Line Items]
Revenue909 1,300
Gross profit467 803
Amortization of intangible assets82 58
Intangible assets $ 2,071 $ 1,568

Restructuring and Exit Activi_2

Restructuring and Exit Activities (Details Narrative) - USD ($)3 Months Ended
Mar. 31, 2020Mar. 31, 2019
Restructuring Cost and Reserve [Line Items]
Costs related to the closure of Entity $ 0 $ 2,000
ISS UK and ISS Holdings [Member]
Restructuring Cost and Reserve [Line Items]
Entity closures cost $ 30,000 $ 0

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - Paycheck Protection Program Loan - BMO Harris Bank, N.A.Apr. 22, 2020wkApr. 17, 2020USD ($)
Subsequent Event [Line Items]
Amount of loan approved by the United States Small Business Administration (the "SBA") | $ $ 923,700
Threshold weeks to apply for forgiveness of the loan in accordance with the terms of the CARES Act | wk8