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Insignia Systems Inc./MN – ‘10-Q’ for 3/31/21 – ‘EX-101.INS’

On:  Friday, 5/7/21, at 9:28am ET   ·   For:  3/31/21   ·   Accession #:  1654954-21-5262   ·   File #:  1-13471

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/07/21  Insignia Systems Inc./MN          10-Q        3/31/21   39:1.7M                                   Blueprint/FA

Quarterly Report   —   Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    212K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     18K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     18K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     15K 
11: R1          Document and Entity Information                     HTML     44K 
12: R2          Condensed Balance Sheets                            HTML     98K 
13: R3          Condensed Balance Sheets (Parenthetical)            HTML     21K 
14: R4          Condensed Statements of Operations                  HTML     90K 
15: R5          Condensed Statements of Shareholders' Equity        HTML     39K 
16: R6          Condensed Statements of Cash Flows                  HTML     86K 
17: R7          Summary of Significant Accounting Policies          HTML     31K 
18: R8          Revenue Recognition                                 HTML     31K 
19: R9          Selling Arrangement                                 HTML     15K 
20: R10         Income Taxes                                        HTML     21K 
21: R11         Concentrations                                      HTML     15K 
22: R12         Legal Proceedings                                   HTML     16K 
23: R13         Loan                                                HTML     16K 
24: R14         Subsequent Event                                    HTML     15K 
25: R15         Summary of Significant Accounting Policies          HTML     48K 
                (Policies)                                                       
26: R16         Summary of Significant Accounting Policies          HTML     29K 
                (Tables)                                                         
27: R17         Revenue Recognition (Tables)                        HTML     25K 
28: R18         Summary of Significant Accounting Policies          HTML     22K 
                (Details)                                                        
29: R19         Summary of Significant Accounting Policies          HTML     26K 
                (Details 1)                                                      
30: R20         Summary of Significant Accounting Policies          HTML     21K 
                (Details 2)                                                      
31: R21         Summary of Significant Accounting Policies          HTML     30K 
                (Details Narrative)                                              
32: R22         Revenue Recognition (Details)                       HTML     26K 
33: R23         Revenue Recognition (Details 1)                     HTML     18K 
34: R24         Selling Arrangement (Details Narrative)             HTML     18K 
35: R25         Income Taxes (Details Narrative)                    HTML     23K 
36: R26         Concentrations (Details Narrative)                  HTML     21K 
38: XML         IDEA XML File -- Filing Summary                      XML     63K 
37: EXCEL       IDEA Workbook of Financial Reports                  XLSX     36K 
 5: EX-101.INS  XBRL Instance -- isig-20210331                       XML    341K 
 7: EX-101.CAL  XBRL Calculations -- isig-20210331_cal               XML    105K 
 8: EX-101.DEF  XBRL Definitions -- isig-20210331_def                XML    120K 
 9: EX-101.LAB  XBRL Labels -- isig-20210331_lab                     XML    360K 
10: EX-101.PRE  XBRL Presentations -- isig-20210331_pre              XML    274K 
 6: EX-101.SCH  XBRL Schema -- isig-20210331                         XSD     55K 
39: ZIP         XBRL Zipped Folder -- 0001654954-21-005262-xbrl      Zip     45K

‘EX-101.INS’   —   XBRL Instance — isig-20210331

This Exhibit is an XBRL XML File.

                                                                                                                                                                                
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<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i>Description of Business</i></b><i>.<b> </b></i>Insignia (the “Company”) is a leading provider of in-store and digital advertising solutions to consumer-packaged goods (“CPG”) manufacturers, retailers, shopper marketing agencies and brokerages. The Company operates in a single reportable segment. The Company’s leadership and employees have extensive industry knowledge with direct experience in both CPG manufacturers and retailers. The Company provides marketing solutions to CPG manufacturers spanning from some of the largest multinationals to new and emerging brands.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify"><b><i>Reverse Stock Split.</i></b> Effective December 31, 2020, the Company implemented a seven-for-one reverse stock split. All share and per-share information, including for stock options and restricted stock units, in the financial statements gives retroactive effect to the reverse stock split for all periods presented including the value of Common Stock and Additional Paid-In Capital as of December 31, 2020.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i>Sale of Custom Print Business.</i></b> In August 2020, the Company sold its custom print business to an existing strategic partner. This divestiture allowed the Company to focus on its core business, selling product solutions to CPGs. The custom print business was not material to operations as a whole and did not represent a strategic shift and therefore is not presented as a discontinued operation. The sale price was $300,000 resulting in a gain on the sale of $195,000. On the date of the sale, the Company received $200,000 of cash and recorded a short-term receivable of $75,000 and a long-term receivable of $25,000.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i>Basis of Presentation</i></b><i>.</i> The accompanying unaudited financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. They do not include all information and footnotes required by U.S. GAAP for complete financial statements. However, except as described herein, there has been no material change in the information disclosed in the notes to financial statements included in the Company’s financial statements as of and for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i>Inventories</i></b><i>.</i> Inventories are primarily comprised of sign cards and hardware. Inventory is valued at the lower of cost or net realizable value using the first-in, first-out (“FIFO”) method, and consisted of the following as of the dates indicated:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">March 31, 2021</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">December 31, 2020</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%"><font style="font-size: 8pt">Raw materials</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">32,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Work-in-process</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">2,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">2,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Finished goods</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">100,000</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">51,000</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">102,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">85,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i>Property and Equipment</i></b><i>.</i> Property and equipment consisted of the following as of the dates indicated:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">March 31, 2021</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">December 31, 2020</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt"><b>Property and Equipment:</b></font></td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%; text-indent: 0.25in"><font style="font-size: 8pt">Production tooling, machinery and equipment</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">27,000</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">2,349,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Office furniture and fixtures</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">88,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">425,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Computer equipment and software</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">704,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">1,447,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Construction in-progress</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">—</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">17,000</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">819,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">4,238,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Accumulated depreciation and amortization</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">( 745,000</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">( 4,163,000</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.5in"><font style="font-size: 8pt">Net Property and Equipment</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">74,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">75,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Depreciation expense was approximately $21,000 and $85,000 in the three months ended March 31, 2021 and 2020, respectively.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i> </i></b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i>Stock-Based Compensation</i></b>. The Company measures and recognizes compensation expense for all stock-based payments at fair value. Restricted stock units and awards are valued at the closing market price of the Company’s stock as of the date of the grant. The Company uses the Black-Scholes option pricing model to determine the weighted average fair value of options and employee stock purchase plan rights. The determination of the fair value of share-based payment awards on the date of grant using an option-pricing model is affected by the Company’s stock price as well as by assumptions regarding a number of complex and subjective variables. These variables include, but are not limited to, the expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">During the three months ended March 31, 2021 and 2020, no equity awards were issued by the Company.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">The Company estimated the fair value of stock-based awards granted during the three months ended March 31, 2021, under the Company’s employee stock purchase plan using the following weighted average assumptions: expected life of 1.0 year, expected volatility of 142.2%, dividend yield of 0% and risk-free interest rate of 0.1%.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">The Company recorded total stock-based compensation expense of $56,000 and $49,000 for the three months ended March 31, 2021 and 2020, respectively.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i>Net Loss per Share</i></b><i>.</i> Basic net loss per share is computed by dividing net loss by the weighted average shares outstanding and excludes any potential dilutive effects of stock options and restricted stock units and awards. Diluted net loss per share gives effect to all dilutive potential common shares outstanding during the period.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Due to the net loss incurred during the three months ended March 31, 2021 and 2020 all outstanding stock options were anti-dilutive for the periods.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Weighted average common shares outstanding for the three months ended March 31, 2021 and 2020 were as follows:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Three months ended March 31</font></td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2021</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2020</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%"><font style="font-size: 8pt">Denominator for basic net loss per share - weighted average shares</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">1,751,000</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">1,724,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Effect of dilutive securities:</font></td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 9pt"><font style="font-size: 8pt">Stock options, restricted stock and restricted stock units</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">—</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">—</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Denominator for diluted net loss per share - weighted average shares</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,751,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,724,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
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<us-gaap:RevenueRecognitionPolicyTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><font style="font: 8pt Times New Roman, Times, Serif">Under Accounting Standards Update (“ASU”) 2014-09 <i>Revenue from Contracts with Customers </i>(“Topic 606”), revenue is measured based on consideration specified in the contract with a customer, adjusted for any applicable estimates of variable consideration and other factors affecting the transaction price, including noncash consideration, consideration paid or payable to a customer and significant financing components. Revenue from all customers is recognized when a performance obligation is satisfied by transferring control of a distinct good or service to a customer, as further described below under “<i>Performance Obligations</i>.”</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font: 8pt Times New Roman, Times, Serif"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Taxes collected from customers and remitted to governmental authorities are excluded from revenue on the net basis of accounting.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">The Company includes shipping and handling fees in revenues. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of goods sold.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-indent: 0pt"><b><i>Performance Obligations</i></b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account under Topic 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The following is a description of the Company’s performance obligations included in its primary revenue streams and the timing or method of revenue recognition for each:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i> </i></b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i>In-Store Signage Solution Services.</i></b> The Company provides a service of displaying promotional signs in close proximity to the CPG manufacturer’s product in participating stores, which the Company maintains in two-to-four-week cycle increments.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Each of the individual activities under the Company’s services, including production activities, are inputs to an integrated sign display service. Customers receive and consume the benefits from the promotional displays over the duration of the contracted display cycle. Additionally, the display of the signs does not have an alternative use to the Company and the Company has an enforceable right to payment for services performed to date. As a result, the Company recognizes the transaction price for service performance obligations as revenue over time. Given the nature of the Company’s performance obligations is to provide a display service over the duration of a specified period or periods, the Company recognizes revenue on a straight-line basis over the display service period as it best reflects the timing of transfer of its sign solutions.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i>Non-POPS Solutions</i></b>. The Company also supplies CPG manufacturers with other retailer approved promotional services, such as signage, on-pack, merchandising and digital solutions. These services are more customized than POPS, consisting of variable durations and variable specifications. Due to the variable nature of these services, revenue recognition is a mix of over-time and point in time recognition.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i>Products</i></b><i>.</i> Prior to the August 2020 sale of the Company’s custom print business, the Company also sold custom print solutions directly to its customers. Each such product was a distinct performance obligation. Revenue was recognized at a point-in-time upon shipment when control of the goods transferred to the customer.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"><b><i>Disaggregation of Revenue</i></b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 20pt 0 0pt">In the following table, revenue is disaggregated by major revenue stream and timing of revenue recognition.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Three months ended March 31, 2021</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Services Revenues</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Products Revenue</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Total Revenue</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt"><b>Timing of revenue recognition:</b></font></td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 62%; text-indent: 0.25in"><font style="font-size: 8pt">Products and services transferred over time</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">2,028,000</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">2,028,000</font></td> <td style="width: 3%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Products and services transferred at a point in time</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">3,391,000</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">3,391,000</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.5in"><font style="font-size: 8pt">Total</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">5,419,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">5,419,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Three months ended March 31, 2020</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Services Revenues</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Products Revenue</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Total Revenue</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt"><b>Timing of revenue recognition:</b></font></td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 62%; text-indent: 0.25in"><font style="font-size: 8pt">Products and services transferred over time</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">3,344,000</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">3,344,000</font></td> <td style="width: 3%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Products and services transferred at a point in time</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">1,092,000</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">246,000</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">1,338,000</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.5in"><font style="font-size: 8pt">Total</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">4,436,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">246,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">4,682,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i>Contract Costs</i></b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Sales commissions that are paid to internal or external sales representatives are eligible for capitalization as they are incremental costs that would not have been incurred without entering into a specific sales arrangement and are recoverable through the expected margin on the transaction. The Company is applying the practical expedient in Accounting Standards Codification 340-40-25-4 that allows the incremental costs of obtaining a contract to be recorded as an expense when incurred when the amortization period of the asset that would have otherwise been recognized is one year or less. These costs are included in selling expenses.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i> </i></b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i>Deferred Revenue</i></b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Significant changes in deferred revenue during the period are as follows:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="width: 88%"><font style="font-size: 8pt">Balance at December 31, 2020</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">180,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Reclassification of beginning deferred revenue to revenue, as a result of performance obligations satisfied</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">( 132,000</font></td> <td><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Cash received in advance and not recognized as revenue</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">652,000</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Balance at March 31, 2021</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">700,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><b><i>Transaction Price Allocated to Remaining Performance Obligations</i></b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">The Company applies the practical expedient in paragraph 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less, which reflect the majority of its performance obligations. This practical expedient is being applied to arrangements for certain incomplete services and unshipped custom signage materials. Among our contracts with an expected duration of greater than one year, we estimate that revenue of $38,000, $116,000 and $60,000 related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2021 will be recognized during the remainder of fiscal 2021, 2022 and 2023, respectively.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
</us-gaap:RevenueRecognitionPolicyTextBlock>
<ISIG:SellingArrangementTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In 2011, the Company paid to News America Marketing In-Store, L.L.C. (“News America”) $4,000,000 in exchange for a 10-year arrangement to sell signs with price into News America’s network of retailers as News America’s exclusive agent. The $4,000,000 was being amortized over the 10-year term of the arrangement. In 2019, the Company accelerated the amortization based on the anticipated recovery period over the remaining term of the contract due to the loss of a significant retailer. During the three months ended March 31, 2020, the impact of COVID-19 was determined to be a triggering event requiring an impairment review of long-lived assets. As of March 31, 2020, the Company determined the asset was impaired based upon continued revenue declines driven by changes in market conditions due to COVID-19 within the stores covered by the agreement. As a result, an impairment of $159,000 was recognized as of March 31, 2020. The Company also shortened the remaining useful life of the underlying asset from March 31, 2021 to December 31, 2020 and recorded remaining amortization expense on a straight-line basis over the remainder of 2020. Amortization expense without the impairment was $61,000 in the three months ended March 31, 2020. The selling arrangement was fully amortized as of March 31, 2021 and December 31, 2020.</p>
</ISIG:SellingArrangementTextBlock>
<us-gaap:IncomeTaxDisclosureTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><font style="font-size: 8pt">For the three months ended March 31, 2021, the Company recorded income tax expense of $13,000, or (2.0%) of loss before taxes. For the three months ended March 31, 2020, the Company recorded income tax benefit of $222,000, or 20.5% of loss before taxes. The income tax expense (benefit) for the three months ended March 31, 2021 and 2020 is comprised of federal and state taxes. The primary differences between the Company’s March 31, 2021 and 2020 effective tax rates and the statutory federal rate are nondeductible stock-based compensation, nondeductible meals and entertainment and increases in the Company’s valuation allowance against its deferred tax assets. For the three months ended March 31, 2020, the Company recognized a decrease in its valuation allowance against certain federal net operating losses (“NOLs”), which the Company was able to carry back to prior periods. The Company reassesses its effective rate each reporting period and adjusts the annual effective rate if deemed necessary, based on projected annual taxable income (loss).</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt; text-align: justify"><font style="font-size: 8pt">Deferred income taxes are determined based on the estimated future tax effects of differences between the financial statements and tax basis of assets and liabilities given the provisions of enacted tax laws. In providing for deferred taxes, the Company considers tax regulations of the jurisdictions in which it operates, estimates of future taxable income and available tax planning strategies. If tax regulations, operating results or the ability to implement tax-planning strategies vary, adjustment to the carrying value of deferred tax assets and liabilities may be required. Valuation allowances are recorded related to deferred tax assets based on the “more likely than not” criteria. At March 31, 2021 and December 31, 2020, the Company had a valuation allowance of approximately $1,881,000 and $1,723,000, respectively, against its entire deferred tax asset because the Company does not believe it is more likely than not that it will realize its deferred tax asset.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><font style="font-size: 8pt"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><font style="font-size: 8pt">As of March 31, 2021, and December 31, 2020, the Company had unrecognized tax benefits totaling $685,000 and $677,000, respectively, including interest, which relates to state nexus issues. The amount of the unrecognized tax benefits, if recognized, that would affect the effective income tax rates of future periods is $685,000. Due to the current statute of limitations regarding the unrecognized tax benefits, the unrecognized tax benefits and associated interest are not expected to change significantly in 2021.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"><font style="font-size: 8pt"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><font style="font-size: 8pt">In March 2020, Congress passed the Coronavirus Aid, Relief and Economic Security (“CARES”) Act. The CARES Act, among other provisions, allows for companies to carry back federal NOLs generated in 2018, 2019 and 2020 for up to five years for refunds of federal taxes paid. This provision created an opportunity for the Company to utilize NOLs not previously expected to be utilized. Thus, in 2020 the Company reversed approximately $215,000 of its valuation allowance against the NOLs in its deferred tax assets which the Company carried back to claim a refund of federal taxes paid. As the Company expects to receive the tax refund from the ability to carry back the NOLs within the next 12 months, this discrete benefit has been recorded within income taxes receivable on the balance sheet. In addition to the $215,000 recognized, $17,000 was included as a discrete tax benefit for 2020 and included in income taxes receivable related to the NOL carry back due to differences in the federal tax rate utilized for the deferred tax asset compared to the rates in effect for the years in which the NOL is being carried back.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><font style="font-size: 8pt"> </font></p>
</us-gaap:IncomeTaxDisclosureTextBlock>
<us-gaap:ConcentrationRiskDisclosureTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">During the three months ended March 31, 2021, two customers accounted for 17% and 14%, respectively of the Company’s total net sales. During the three months ended March 31, 2020, one customer accounted for 16% of the Company’s total net sales. At March 31, 2021, two customers accounted for 19% and 10%, respectively of the Company’s total accounts receivable. At December 31, 2020, two customers represented 18% and 11%, respectively of the Company’s total accounts receivable.</p>
</us-gaap:ConcentrationRiskDisclosureTextBlock>
<us-gaap:LegalMattersAndContingenciesTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><font style="font-size: 8pt">In July 2019, the Company brought suit against News America in the U.S. District Court in Minnesota, alleging violations of federal and state antitrust and tort laws by News America. The complaint alleges that News America has monopolized the national market for third-party in-store advertising and promotion products and services through various wrongful acts designed to harm the Company, its last significant competitor. The suit seeks, among other relief, an injunction sufficient to prevent further antitrust injury and an award of treble damages to be determined at trial for the harm caused to our Company.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><font style="font-size: 8pt">In August 2019, News America filed an answer and counterclaim. In October 2019, News America moved for a judgment on the pleadings. Management believes that the counterclaim is without merit, and the Company filed a response brief on November 11, 2019. The Company also moved to dismiss the counterclaim against it. The court heard oral arguments from both parties on January 14, 2020, and subsequently denied both motions. On July 10, 2020 the parties cross-moved for summary judgment on the counterclaim. On December 7, 2020, the Court granted News America’s motion for summary judgment on the counterclaim in part, requiring Insignia to strike certain allegations from its complaint and finding News America’s request for attorneys’ fees and costs premature.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-align: justify"><font style="font-size: 8pt"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><font style="font-size: 8pt">Discovery is underway and trial has been scheduled for December 2021. At this stage of the proceedings, the Company is unable to determine the likelihood of an unfavorable outcome or estimate any potential resulting liability.</font></p>
</us-gaap:LegalMattersAndContingenciesTextBlock>
<us-gaap:LoanCommitmentsPolicy contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><font style="font-size: 8pt">In April 2020, the Company entered into a promissory note (the “Note”) with Alerus Financial, N.A. The Note evidenced a loan to the Company in the amount of $1,054,000 pursuant to the Paycheck Protection Program (the “PPP”) of the CARES Act administered by the U.S. Small Business Administration (the “SBA”).</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><font style="font-size: 8pt">In accordance with the requirements of the CARES Act, the Company used the proceeds from the loan exclusively for qualified expenses under the PPP, including payroll costs, rent and utility costs, as further detailed in the CARES Act and applicable guidance issued by the SBA. Interest was accrued on the outstanding balance of the Note at a rate of 1.00% per annum. The Note was scheduled to mature on April 22, 2022 and required 18 equal monthly payments of principal and interest.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-align: justify"><font style="font-size: 8pt"> </font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt"><font style="font-size: 8pt">The Company’s application for forgiveness of the entire principal amount and all accrued interest under the Note was approved by the SBA on January 29, 2021. Accordingly, for the quarter ended March 31, 2021 the debt of $1,054,000, plus accrued interest of $8,000, was eliminated with a gain on debt forgiveness and accrued interest included in other income.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-size: 8pt"> </font></p>
</us-gaap:LoanCommitmentsPolicy>
<us-gaap:SubsequentEventsTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In April 2021, the Company signed a lease for its headquarters space in Minneapolis for a three-year term commencing in July 2021 with monthly payments of approximately $8,300, inclusive of common area maintenance costs. A right-of-use asset and lease liability of approximately $183,000 will be recorded during the second quarter of 2021.</p>
</us-gaap:SubsequentEventsTextBlock>
<us-gaap:NatureOfOperations contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Insignia (the “Company”) is a leading provider of in-store and digital advertising solutions to consumer-packaged goods (“CPG”) manufacturers, retailers, shopper marketing agencies and brokerages. The Company operates in a single reportable segment. The Company’s leadership and employees have extensive industry knowledge with direct experience in both CPG manufacturers and retailers. The Company provides marketing solutions to CPG manufacturers spanning from some of the largest multinationals to new and emerging brands.</p>
</us-gaap:NatureOfOperations>
<ISIG:ReverseStockSplitPolicyTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Effective December 31, 2020, the Company implemented a seven-for-one reverse stock split. All share and per-share information, including for stock options and restricted stock units, in the financial statements gives retroactive effect to the reverse stock split for all periods presented including the value of Common Stock and Additional Paid-In Capital as of December 31, 2020.</p>
</ISIG:ReverseStockSplitPolicyTextBlock>
<ISIG:SaleOfBusinessPolicyTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">In August 2020, the Company sold its custom print business to an existing strategic partner. This divestiture allowed the Company to focus on its core business, selling product solutions to CPGs. The custom print business was not material to operations as a whole and did not represent a strategic shift and therefore is not presented as a discontinued operation. The sale price was $300,000 resulting in a gain on the sale of $195,000. On the date of the sale, the Company received $200,000 of cash and recorded a short-term receivable of $75,000 and a long-term receivable of $25,000.</p>
</ISIG:SaleOfBusinessPolicyTextBlock>
<us-gaap:BasisOfAccountingPolicyPolicyTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The accompanying unaudited financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. They do not include all information and footnotes required by U.S. GAAP for complete financial statements. However, except as described herein, there has been no material change in the information disclosed in the notes to financial statements included in the Company’s financial statements as of and for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. </p>
</us-gaap:BasisOfAccountingPolicyPolicyTextBlock>
<us-gaap:InventoryPolicyTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Inventories are primarily comprised of sign cards and hardware. Inventory is valued at the lower of cost or net realizable value using the first-in, first-out (“FIFO”) method, and consisted of the following as of the dates indicated:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">March 31, 2021</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">December 31, 2020</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%"><font style="font-size: 8pt">Raw materials</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">32,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Work-in-process</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">2,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">2,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Finished goods</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">100,000</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">51,000</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">102,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">85,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</us-gaap:InventoryPolicyTextBlock>
<us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Property and equipment consisted of the following as of the dates indicated:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">March 31, 2021</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">December 31, 2020</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt"><b>Property and Equipment:</b></font></td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%; text-indent: 0.25in"><font style="font-size: 8pt">Production tooling, machinery and equipment</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">27,000</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">2,349,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Office furniture and fixtures</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">88,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">425,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Computer equipment and software</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">704,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">1,447,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Construction in-progress</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">—</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">17,000</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">819,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">4,238,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Accumulated depreciation and amortization</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">( 745,000</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">( 4,163,000</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.5in"><font style="font-size: 8pt">Net Property and Equipment</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">74,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">75,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Depreciation expense was approximately $21,000 and $85,000 in the three months ended March 31, 2021 and 2020, respectively.</p>
</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
<us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">The Company measures and recognizes compensation expense for all stock-based payments at fair value. Restricted stock units and awards are valued at the closing market price of the Company’s stock as of the date of the grant. The Company uses the Black-Scholes option pricing model to determine the weighted average fair value of options and employee stock purchase plan rights. The determination of the fair value of share-based payment awards on the date of grant using an option-pricing model is affected by the Company’s stock price as well as by assumptions regarding a number of complex and subjective variables. These variables include, but are not limited to, the expected stock price volatility over the term of the awards, and actual and projected employee stock option exercise behaviors.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">During the three months ended March 31, 2021 and 2020, no equity awards were issued by the Company.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">The Company estimated the fair value of stock-based awards granted during the three months ended March 31, 2021, under the Company’s employee stock purchase plan using the following weighted average assumptions: expected life of 1.0 year, expected volatility of 142.2%, dividend yield of 0% and risk-free interest rate of 0.1%.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">The Company recorded total stock-based compensation expense of $56,000 and $49,000 for the three months ended March 31, 2021 and 2020, respectively.</p>
</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
<us-gaap:EarningsPerSharePolicyTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Basic net loss per share is computed by dividing net loss by the weighted average shares outstanding and excludes any potential dilutive effects of stock options and restricted stock units and awards. Diluted net loss per share gives effect to all dilutive potential common shares outstanding during the period.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Due to the net loss incurred during the three months ended March 31, 2021 and 2020 all outstanding stock options were anti-dilutive for the periods.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-align: justify"> </p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0pt">Weighted average common shares outstanding for the three months ended March 31, 2021 and 2020 were as follows:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Three months ended March 31</font></td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2021</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2020</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%"><font style="font-size: 8pt">Denominator for basic net loss per share - weighted average shares</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">1,751,000</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">1,724,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Effect of dilutive securities:</font></td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 9pt"><font style="font-size: 8pt">Stock options, restricted stock and restricted stock units</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">—</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">—</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Denominator for diluted net loss per share - weighted average shares</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,751,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,724,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table>
</us-gaap:EarningsPerSharePolicyTextBlock>
<us-gaap:ScheduleOfInventoryCurrentTableTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">March 31, 2021</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">December 31, 2020</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%"><font style="font-size: 8pt">Raw materials</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">32,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Work-in-process</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">2,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">2,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Finished goods</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">100,000</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">51,000</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">102,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">85,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table>
</us-gaap:ScheduleOfInventoryCurrentTableTextBlock>
<us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">March 31, 2021</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">December 31, 2020</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt"><b>Property and Equipment:</b></font></td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%; text-indent: 0.25in"><font style="font-size: 8pt">Production tooling, machinery and equipment</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">27,000</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">2,349,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Office furniture and fixtures</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">88,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">425,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Computer equipment and software</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">704,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">1,447,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Construction in-progress</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">—</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">17,000</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">819,000</font></td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">4,238,000</font></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Accumulated depreciation and amortization</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">( 745,000</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">( 4,163,000</font></td> <td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.5in"><font style="font-size: 8pt">Net Property and Equipment</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">74,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">75,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table>
</us-gaap:PropertyPlantAndEquipmentTextBlock>
<us-gaap:ScheduleOfWeightedAverageNumberOfSharesTableTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Three months ended March 31</font></td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2021</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">2020</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 76%"><font style="font-size: 8pt">Denominator for basic net loss per share - weighted average shares</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">1,751,000</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">1,724,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Effect of dilutive securities:</font></td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 9pt"><font style="font-size: 8pt">Stock options, restricted stock and restricted stock units</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">—</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">—</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Denominator for diluted net loss per share - weighted average shares</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,751,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"> </td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">1,724,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table>
</us-gaap:ScheduleOfWeightedAverageNumberOfSharesTableTextBlock>
<us-gaap:DisaggregationOfRevenueTableTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Three months ended March 31, 2021</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Services Revenues</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Products Revenue</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Total Revenue</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt"><b>Timing of revenue recognition:</b></font></td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 62%; text-indent: 0.25in"><font style="font-size: 8pt">Products and services transferred over time</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">2,028,000</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">2,028,000</font></td> <td style="width: 3%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Products and services transferred at a point in time</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">3,391,000</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">3,391,000</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.5in"><font style="font-size: 8pt">Total</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">5,419,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">5,419,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Three months ended March 31, 2020</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Services Revenues</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Products Revenue</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 8pt">Total Revenue</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt"><b>Timing of revenue recognition:</b></font></td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 62%; text-indent: 0.25in"><font style="font-size: 8pt">Products and services transferred over time</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">3,344,000</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">-</font></td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">3,344,000</font></td> <td style="width: 3%"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.25in"><font style="font-size: 8pt">Products and services transferred at a point in time</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">1,092,000</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">246,000</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">1,338,000</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: 0.5in"><font style="font-size: 8pt">Total</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">4,436,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">246,000</font></td> <td style="padding-bottom: 3pt"> </td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">4,682,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
</us-gaap:DisaggregationOfRevenueTableTextBlock>
<ISIG:ScheduleOfChangesInDeferredRevenueTableTextBlock contextRef="Duration_1_1_2016_To_6_30_2016">
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="width: 88%"><font style="font-size: 8pt">Balance at December 31, 2020</font></td> <td style="width: 1%"> </td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">180,000</font></td> <td style="width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Reclassification of beginning deferred revenue to revenue, as a result of performance obligations satisfied</font></td> <td> </td> <td> </td> <td style="text-align: right"><font style="font-size: 8pt">( 132,000</font></td> <td><font style="font-size: 8pt">)</font></td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Cash received in advance and not recognized as revenue</font></td> <td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right"><font style="font-size: 8pt">652,000</font></td> <td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><font style="font-size: 8pt">Balance at March 31, 2021</font></td> <td style="padding-bottom: 3pt"> </td> <td style="border-bottom: black 1pt double"><font style="font-size: 8pt">$</font></td> <td style="border-bottom: black 1pt double; text-align: right"><font style="font-size: 8pt">700,000</font></td> <td style="padding-bottom: 3pt"> </td></tr> </table>
</ISIG:ScheduleOfChangesInDeferredRevenueTableTextBlock>
<us-gaap:InventoryRawMaterialsNetOfReserves contextRef="As_Of_6_30_2016" unitRef="USD" decimals="0"> 0 </us-gaap:InventoryRawMaterialsNetOfReserves>
<us-gaap:InventoryRawMaterialsNetOfReserves contextRef="AsOf2020-12-31" unitRef="USD" decimals="0"> 32000 </us-gaap:InventoryRawMaterialsNetOfReserves>
<us-gaap:InventoryWorkInProcessNetOfReserves contextRef="As_Of_6_30_2016" unitRef="USD" decimals="0"> 2000 </us-gaap:InventoryWorkInProcessNetOfReserves>
<us-gaap:InventoryWorkInProcessNetOfReserves contextRef="AsOf2020-12-31" unitRef="USD" decimals="0"> 2000 </us-gaap:InventoryWorkInProcessNetOfReserves>
<us-gaap:InventoryFinishedGoodsNetOfReserves contextRef="As_Of_6_30_2016" unitRef="USD" decimals="0"> 100000 </us-gaap:InventoryFinishedGoodsNetOfReserves>
<us-gaap:InventoryFinishedGoodsNetOfReserves contextRef="AsOf2020-12-31" unitRef="USD" decimals="0"> 51000 </us-gaap:InventoryFinishedGoodsNetOfReserves>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="As_Of_6_30_2016" unitRef="USD" decimals="0"> 819000 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="AsOf2021-03-31_us-gaap_ComputerEquipmentMember" unitRef="USD" decimals="0"> 704000 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="AsOf2021-03-31_us-gaap_FurnitureAndFixturesMember" unitRef="USD" decimals="0"> 88000 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="AsOf2021-03-31_us-gaap_MachineryAndEquipmentMember" unitRef="USD" decimals="0"> 27000 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="AsOf2020-12-31" unitRef="USD" decimals="0"> 4238000 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="AsOf2020-12-31_us-gaap_MachineryAndEquipmentMember" unitRef="USD" decimals="0"> 2349000 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="AsOf2020-12-31_us-gaap_FurnitureAndFixturesMember" unitRef="USD" decimals="0"> 425000 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="AsOf2020-12-31_us-gaap_ComputerEquipmentMember" unitRef="USD" decimals="0"> 1447000 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="AsOf2021-03-31_us-gaap_ConstructionInProgressMember" unitRef="USD" decimals="0"> 0 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="AsOf2020-12-31_us-gaap_ConstructionInProgressMember" unitRef="USD" decimals="0"> 17000 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="As_Of_6_30_2016" unitRef="USD" decimals="0"> 745000 </us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
<us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="AsOf2020-12-31" unitRef="USD" decimals="0"> 4163000 </us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
<us-gaap:Depreciation contextRef="Duration_1_1_2016_To_6_30_2016" unitRef="USD" decimals="0"> 21000 </us-gaap:Depreciation>
<us-gaap:Depreciation contextRef="From2020-01-01to2020-03-31" unitRef="USD" decimals="0"> 85000 </us-gaap:Depreciation>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod contextRef="Duration_1_1_2016_To_6_30_2016" unitRef="Shares" decimals="INF"> 0 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod contextRef="From2020-01-01to2020-03-31" unitRef="Shares" decimals="INF"> 0 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="Duration_1_1_2016_To_6_30_2016"> P1Y </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate contextRef="Duration_1_1_2016_To_6_30_2016" unitRef="Percent" decimals="INF"> 1.4220 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate contextRef="Duration_1_1_2016_To_6_30_2016" unitRef="Percent" decimals="INF"> .0000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate contextRef="Duration_1_1_2016_To_6_30_2016" unitRef="Percent" decimals="INF"> .0010 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
<us-gaap:AllocatedShareBasedCompensationExpense contextRef="Duration_1_1_2016_To_6_30_2016" unitRef="USD" decimals="0"> 56000 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense contextRef="From2020-01-01to2020-03-31" unitRef="USD" decimals="0"> 49000 </us-gaap:AllocatedShareBasedCompensationExpense>
<ISIG:ReclassificationOfDeferredRevenue contextRef="Duration_1_1_2016_To_6_30_2016" unitRef="USD" decimals="0"> -132000 </ISIG:ReclassificationOfDeferredRevenue>
<ISIG:CashReceivedInAdvanceNotRecognizedAsRevenue contextRef="Duration_1_1_2016_To_6_30_2016" unitRef="USD" decimals="0"> 652000 </ISIG:CashReceivedInAdvanceNotRecognizedAsRevenue>
<us-gaap:AmortizationOfIntangibleAssets contextRef="From2020-01-01to2020-03-31" unitRef="USD" decimals="0"> 61000 </us-gaap:AmortizationOfIntangibleAssets>
<us-gaap:EffectiveIncomeTaxRateContinuingOperations contextRef="Duration_1_1_2016_To_6_30_2016" unitRef="Percent" decimals="INF"> -.0200 </us-gaap:EffectiveIncomeTaxRateContinuingOperations>
<us-gaap:EffectiveIncomeTaxRateContinuingOperations contextRef="From2020-01-01to2020-03-31" unitRef="Percent" decimals="INF"> .2050 </us-gaap:EffectiveIncomeTaxRateContinuingOperations>
<us-gaap:DeferredTaxAssetsValuationAllowance contextRef="As_Of_6_30_2016" unitRef="USD" decimals="0"> 1881000 </us-gaap:DeferredTaxAssetsValuationAllowance>
<us-gaap:DeferredTaxAssetsValuationAllowance contextRef="AsOf2020-12-31" unitRef="USD" decimals="0"> 1723000 </us-gaap:DeferredTaxAssetsValuationAllowance>
<us-gaap:ConcentrationRiskPercentage1 contextRef="Duration_1_1_2015_To_6_30_2015_us-gaap_ConcentrationRiskByBenchmarkAxis_us-gaap_SalesRevenueNetMember_us-gaap_MajorCustomersAxis_isig_CustomerOneMember" unitRef="Percent" decimals="INF"> .1600 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:ConcentrationRiskPercentage1 contextRef="Duration_1_1_2016_To_6_30_2016_us-gaap_ConcentrationRiskByBenchmarkAxis_us-gaap_AccountsReceivableMember_us-gaap_MajorCustomersAxis_isig_CustomerOneMember" unitRef="Percent" decimals="INF"> .1900 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:ConcentrationRiskPercentage1 contextRef="From2021-01-01to2021-03-31_us-gaap_SalesRevenueNetMember_custom_CustomerOneMember" unitRef="Percent" decimals="INF"> .1700 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:ConcentrationRiskPercentage1 contextRef="Duration_1_1_2016_To_6_30_2016_us-gaap_ConcentrationRiskByBenchmarkAxis_us-gaap_SalesRevenueNetMember_us-gaap_MajorCustomersAxis_isig_CustomerTwoMember" unitRef="Percent" decimals="INF"> .1400 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:ConcentrationRiskPercentage1 contextRef="From2021-01-01to2021-03-31_us-gaap_AccountsReceivableMember_custom_CustomerTwoMember" unitRef="Percent" decimals="INF"> .1000 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:ConcentrationRiskPercentage1 contextRef="From2020-01-01to2020-12-31_us-gaap_AccountsReceivableMember_custom_CustomerOneMember" unitRef="Percent" decimals="INF"> .1800 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:ConcentrationRiskPercentage1 contextRef="From2020-01-01to2020-12-31_us-gaap_AccountsReceivableMember_custom_CustomerTwoMember" unitRef="Percent" decimals="INF"> .1100 </us-gaap:ConcentrationRiskPercentage1>
<us-gaap:IncrementalCommonSharesAttributableToCallOptionsAndWarrants contextRef="Duration_1_1_2016_To_6_30_2016" unitRef="Shares" decimals="INF"> 0 </us-gaap:IncrementalCommonSharesAttributableToCallOptionsAndWarrants>
<us-gaap:IncrementalCommonSharesAttributableToCallOptionsAndWarrants contextRef="From2020-01-01to2020-03-31" unitRef="Shares" decimals="INF"> 0 </us-gaap:IncrementalCommonSharesAttributableToCallOptionsAndWarrants>
</xbrli:xbrl>

2 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 1/06/21  Lendway, Inc.                     8-K:5,7,8,912/31/20    4:80K                                    Blueprint/FA
 3/18/16  Lendway, Inc.                     10-K       12/31/15   68:5.6M                                   Toppan Merrill/FA
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