Form 8-K - Current report
August 23 2023 - 8:01AM
Edgar (US Regulatory)
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0001386301
2023-08-23
2023-08-23
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report:
(Date of earliest event reported)
August 23, 2023
Research Solutions, Inc.
(Exact name of registrant as specified in its charter)
Nevada
(State or other Jurisdiction of Incorporation)
|
1-39256 |
|
11-3797644 |
| (Commission File Number) |
|
(IRS Employer Identification No.) |
N/A
(Address of Principal Executive Offices and zip code)
(310) 477-0354
(Registrant’s telephone number, including
area code)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting
material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of
the Act:
| Title of each Class |
Trading Symbol(s) |
Name of each Exchange on which registered |
| Common stock, $0.001 par value |
RSSS |
The Nasdaq Stock Market LLC |
Indicate by
check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
| Item 7.01 | Regulation FD Disclosure. |
Research Solutions, Inc. (the
“Registrant”) hereby furnishes the Corporate Presentation that the Registrant will present at an investor conference on August
23, 2023, using slides containing the information attached to this Current Report on Form 8-K as Exhibit 99.1 (the “Corporate Presentation”)
and incorporated herein by reference. The Registrant expects to use the Corporate Presentation, in whole or in part, and possibly
with modifications, in connection with presentations to investors, analysts and others during the fiscal year ending June 30, 2024.
By filing this Current Report
on Form 8-K and furnishing the information contained herein, the Registrant makes no admission as to the materiality of any information
in this report that is required to be disclosed solely by reason of Regulation FD.
The information contained in
the Corporate Presentation is summary information that is intended to be considered in the context of the Registrant's Securities and
Exchange Commission (“SEC”) filings and other public announcements that the Registrant may make, by press release or otherwise,
from time to time. The Registrant undertakes no duty or obligation to publicly update or revise the information contained in
this report, although it may do so from time to time as its management believes is warranted. Any such updating may be made
through the filing of other reports or documents with the SEC, through press releases or through other public disclosure.
The information in this Current Report on Form 8-K (including the
exhibits attached hereto) shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in this Current
Report on Form 8-K (including the exhibits attached hereto) shall not be deemed incorporated by reference into any
filing or other document under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set
forth by specific reference in such filing or document.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| |
RESEARCH SOLUTIONS, INC. |
| |
|
|
| |
|
|
| Date: August 23, 2023 |
By: |
/s/ William Nurthen |
| |
|
William Nurthen |
| |
|
Chief Financial Officer |
Exhibit 99.1
| Corporate
Presentation
Aug 2023 |
| Proprietary & Confidential Research Solutions, Inc. 2
Forward-Looking Statements
Certain statements in this press release may contain "forward-looking statements" regarding future
events and our future results. All statements other than statements of historical facts are statements
that could be deemed to be forward-looking statements. These statements are based on current
expectations, estimates, forecasts, and projections about the markets in which we operate and the
beliefs and assumptions of our management. Words such as "expects," "anticipates," "targets,"
"goals," "projects", "intends," "plans," "believes," "seeks," "estimates," "endeavors," "strives," "may,"
or variations of such words, and similar expressions are intended to identify such forward-looking
statements. Readers are cautioned that these forward-looking statements are subject to a number of
risks, uncertainties and assumptions that are difficult to predict, estimate or verify. Therefore, actual
results may differ materially and adversely from those expressed in any forward-looking statements.
Such risks and uncertainties include those factors described in the Company's most recent annual
report on Form 10-K, as such may be amended or supplemented by subsequent quarterly reports on
Form 10-Q, or other reports filed with the Securities and Exchange Commission. Examples of forward-looking statements in this release include statements regarding additional customers, potential
acquisitions and the Company's prospects for growth, profitability, and cash flow. Readers are
cautioned not to place undue reliance on these forward-looking statements. The forward-looking
statements are made only as of the date hereof, and the Company undertakes no obligation to
publicly release the result of any revisions to these forward-looking statements. For more
information, please refer to the Company's filings with the Securities and Exchange Commission. |
| Proprietary & Confidential Research Solutions, Inc. 3
1. Introduction
2. What we do
3. Business Model & Opportunity
4. Knowledge Graphs
5. Opportunity
6. Solutions
7. Financials
Agenda |
| Introduction |
| Proprietary & Confidential Research Solutions, Inc. 5
We Empower Research Intensive Organizations to Accelerate Innovation
Innovation Strategy
R&D
Product Development
Post
Development
• Market Intel
• Competitor Intel
• IP Analysis
• Technology Trends
• Scientific Research &
Development
• Regulatory
• Business Development &
Marketing
• IP Management
• Post Market
• Surveillance |
| What we do |
| Proprietary & Confidential Research Solutions, Inc. 7
Solving Information
Overload
Rapid Exponential Growth in Scientific Journal Publications
Data from https://openalex.org/
• Confidence Nothing Is Missed
• Speed & Ease
• Assistance in Serendipitous Discovery
• Access To A Comprehensive Collection of
Data & Content Sources
• Support Across A Wide Variety of Use
Cases
Researchers need to be able to find all relevant
information with a high level of accuracy. They should
experience: |
| Proprietary & Confidential Research Solutions, Inc. 8
In other words...
Scientific Research Legal Research Financial Research
Articles from
Scientific, Technical
& Medical (STM) Journals,
R&D Efficiency Tools
Laws, Legal Cases
& Opinions
Annual Reports &
Financial Market Data |
| Business Model &
Opportunity |
| Proprietary & Confidential Research Solutions, Inc. 10
10
Growth Through
Organic Growth of Current SaaS Products
• Advanced Discovery Tools
• Advanced reporting and knowledge graphs
• Entitlement Management
• Workflow Solutions For
• Key Opinion Leader Identification
• Clinical Trials
• Competitive Landscape
• Patent Management
• Pharmacovigilance and Device Monitoring
• Information Centers & Libraries
• Document Delivery of STM1 Content
1 “Scientific, Technical and Medical” Research Papers – non-SaaS
2 Total addressable market
Acquisitions that will
• Expand offerings to expand TAM2
• Consolidate Competitors for margin expansion
• Enter new geographic markets to drive growth
In the
• Corporate Markets
• Academic Markets
• Government Markets
• Individuals/Students |
| Proprietary & Confidential Research Solutions, Inc. 11
SaaS Platforms
• Fastest-growing and recurring
• High retention rates (>105%)
• TTM gross margin 88.0%
Document Delivery
• Sticky, scalable, repeat revenue
• TTM gross margin 24.2%
$23.7 $24.8 $26.2 $26.0 $27.2 $26.6 $26.1 $28.0
FY16 FY17 FY18 FY19 FY20 FY21 FY22 TTM 3/31/23
$0.4
$1.0
$1.8
$2.8
$3.9
$5.1
$6.8
$8.3
FY16 FY17 FY18 FY19 FY20 FY21 FY22 TTM 3/31/23
FY2016
Revenue
$24.1M
FY2017
Revenue
$25.8M
FY2018
Revenue
$28.0M
FY2019
Revenue
$28.8M
FY2020
Revenue
$31.1M
FY2021
Revenue
$31.8M
FY2022
Revenue
$32.9M
TTM
Revenue
$36.3M
Acquisitions
• FIZ : +$1.4M DocDel – January 1, 2023
• ResoluteAI : +$1.3M ARR – July 28,
2023
Fiscal Year Start: July 1st
Financials – Through Q3 FY23 ended March 31, 2023 |
| Proprietary & Confidential Research Solutions, Inc. 12
FY23 FY24 Gain
Platform Revenues $ 6.8 $ 8.7 28%
DocDel Revenue $ 26.1 $ 29.0 11%
Total Revenues $ 32.9 $ 37.7 14%
ARR $ 7.9 $ 9.4 19%
Adjusted EBITDA $ (0.4) $ 2.0 636%
Cash Flow $ (0.4) $ 3.4 915%
FY24 Q4 and Full Year Pre-Release |
| Proprietary & Confidential Research Solutions, Inc. 13
Able to Serve All Research-Focused Industries
Data from World Top 2500 R&D Investors 2022 Edition
Number of Companies per Region |
| Proprietary & Confidential Research Solutions, Inc. 14
14
Competitive Intelligence
Patent Management
Clinical Research
Medical Liaisons
R&D
Regulatory
Post Market Surveillance
Business Development
Marketing
R&D
26 |
| Proprietary & Confidential Research Solutions, Inc. 15
15
RSSS
TAM
FY23
< $1B
RSSS
TAM
FY24+
> $4B
27 |
| Proprietary & Confidential Research Solutions, Inc. 16
Innovation Value Chain – Life Sciences
Competitive Intelligence
IP Management
Market Intelligence
Technology Landscape
Literature Search &
Discovery
Target Identification/
Hypothesis Generation
Data Science
Translational Science
Clinical Research
Clinical Operations &
Analysis
Medical Affairs
Regulatory Affairs
Pharmacovigilance/
Device Monitoring
Marketing
Business Development
Strategy R&D Clinical
Development
Post Market &
Commercial
Market Access
Research Solutions Reprints Desk Proprietary & Confidential 19 |
| Knowledge
Graphs |
| Proprietary & Confidential Research Solutions, Inc. 18
Graph Databases
18
A graph database stores relationships in a format known as a
triple, composed of a subject, predicate, and object.
The subject and the object are
called nodes, which store data
entities, and the predicate is called
an edge, which stores relationships
between entities.
NODE NODE
EDGE
Proprietary & Confidential 18 |
| Proprietary & Confidential Research Solutions, Inc. 19
Taxonomies/Ontologies
NLP, ML, & LLM
Knowledge Graphs Specific Use Cases
NLP, ML, & LLM NLP, ML, & LLM
Using AI to Build Knowledge Discovery Systems |
| Knowledge Graphs Link
Concepts to Greatly
Enhance Search &
Discovery
Visualization of a network of connections can
immediately provide context.
At the center of the illustration is Michael Houghton, a
Nobel Prize winner in Physiology or Medicine in 2020
for discovering the Hepatitis C virus. Here we see
some of his network of co
-authors of his research
publications, alongside other topics about which he
has researched and written.
A quick glance relays the context of his research
activities and his potential as a Key Opinion Leader
..
Research Solutions Reprints Desk Proprietary & Confidential 20 |
| Knowledge Graphs Were
Used to Rapidly Shortlist
Therapies for COVID-19
https://pubs.acs.org/doi/10.1021/acs.jproteome.0c00316
Research Solutions Reprints Desk Proprietary & Confidential 17
In early 2020, researchers used a comprehensive
Knowledge Graph that looked at 39 types of
relationships connecting drugs, diseases,
proteins/genes, pathways, and expressions from a
large scientific corpus of 24 million PubMed
publications to shortlist 41 existing drugs that could be
tested to treat COVID-19. |
| Opportunity |
| Proprietary & Confidential Research Solutions, Inc. 23
Innovation Value Chain – Life Sciences
Competitive Intelligence
IP Management
Market Intelligence
Technology Landscape
Literature Search &
Discovery
Target Identification/
Hypothesis Generation
Data Science
Translational Science
Clinical Research
Clinical Operations &
Analysis
Medical Affairs
Regulatory Affairs
Pharmacovigilance/
Device Monitoring
Marketing
Business Development
Strategy R&D Clinical
Development
Post Market &
Commercial
Market Access
Research Solutions Reprints Desk Proprietary & Confidential 19 |
| Proprietary & Confidential Research Solutions, Inc. 24
Innovation Value Chain – Life Sciences – Article Galaxy (“AG”) 2021
Literature Access
Strategy R&D Clinical
Development
Post Market &
Commercial
Research Solutions Reprints Desk Proprietary & Confidential 20 |
| Proprietary & Confidential Research Solutions, Inc. 25
Innovation Value Chain – Life Sciences – AG 2023 + Curedatis + AGR
Literature Search &
Management
Medical Affairs
Regulatory Affairs
Pharmacovigilance/
Device Monitoring
Strategy R&D Clinical
Development
Post Market &
Commercial
Research Solutions Reprints Desk Proprietary & Confidential 21 |
| Proprietary & Confidential Research Solutions, Inc. 26
Innovation Value Chain – Life Sciences – RSSS + ResoluteAI – 2023
Competitive Intelligence
IP Management
Market Intelligence
Technology Landscape
Literature Search &
Discovery
Translational Science
Clinical Research
Clinical Operations &
Analysis
Medical Affairs
Regulatory Affairs
Pharmacovigilance/
Device Monitoring
Marketing
Business Development
Target Identification/
Hypothesis Generation
Data Science Market Access
Strategy R&D Clinical
Development
Post Market &
Commercial
Research Solutions Reprints Desk Proprietary & Confidential 22 |
| Solutions |
| Proprietary & Confidential Research Solutions, Inc. 28
RSSS Product Ecosystem:
Current Solutions Article Galaxy/References & Curedatis Focus of R&D Use Cases
Research &
Development
Systematic
Lit. Review
Document
Delivery
Reference
Manager
Department /
Persona Group
Typical Innovation Workflow
Doc Del Knowledge Management
Current core RSSS users come from R&D, Clinical
Research, and Medical Affairs, and we help them find,
access and organize scientific journal content. |
| Proprietary & Confidential Research Solutions, Inc. 29
RSSS Product Ecosystem:
By Adding ResoluteAI, We More Completely Address R&D Use Cases As Part of A Workflow
Research &
Development
Systematic
Lit. Review Clinical Trial KOL Comp.
Landsc.
Document
Delivery
Reference
Manager
Patents
Search
Department /
Persona Group
Typical Innovation Workflow
Doc Del Knowledge Management
With ResoluteAI, we will increase the number of R&D use
cases and data sets we can leverage and thereby more
completely address R&D information overload needs. |
| Proprietary & Confidential Research Solutions, Inc. 30
Product Roadmap
Innovation User
Journey
Search & Discovery (Document) Delivery Knowledge
Management Creation
Today Resolute.AI
Foundation
Nebula
RSSS
Article Galaxy / References
Curedatis |
| Proprietary & Confidential Research Solutions, Inc. 31
Product Roadmap
GTM 3-6 Months
After Close
Foundation
Clinical Research
Foundation Key
Opinion Leader
DocDel
integrati
on
Search Article Galaxy / References
Post Market Surveillance Curedatis
Innovation User
Journey
Search & Discovery (Document) Delivery Knowledge
Management Creation
Today Resolute.AI
Foundation
Nebula
RSSS
Article Galaxy / References
Curedatis |
| Proprietary & Confidential Research Solutions, Inc. 32
Product Roadmap
GTM 6 – 24 Months
After Closure
“Project Orange”
GTM 3-6 Months
After Closure
Foundation
Clinical Research
Foundation Key
Opinion Leader
DocDel
integrati
on
Search Article Galaxy / References
Post Market Surveillance Curedatis
Innovation User
Journey
Search & Discovery (Document) Delivery Knowledge
Management Creation
Today Resolute.AI
Foundation
Nebula
RSSS
Article Galaxy / References
Curedatis |
| Proprietary & Confidential Research Solutions, Inc. 33
RSSS Product Ecosystem – Long Term:
Competitive
Intelligence
Research &
Development
Clinical Research
& Operations
IP / Patent
Management
Business
Development
Medical Affairs
Clinical Trial (Drug)
Pipeline
Document
Delivery
Reference
Manager
Comp.
Landsc. KOL
Financials &
News
Systematic
Lit. Review Clinical Trial KOL Comp.
Landsc.
Document
Delivery
Reference
Manager
Systematic
Lit. Review Clinical Trial KOL Comp.
Landsc.
Document
Delivery
Reference
Manager
Freedom to
Operate
Comp.
Landsc.
Document
Delivery
Reference
Manager Regulatory Patents
Search
Patents
Search
Patents
Search
Patent
Landsc.
Systematic
Lit. Review Clinical Trial KOL Comp.
Landsc.
Document
Delivery
Reference
Manager Regulatory
Regulatory
Regulatory
Clinical Trial (Drug)
Pipeline
Document
Delivery
Reference
Manager
Comp.
Landsc. KOL
Financials &
News
Patents
Search Regulatory
Department /
Persona Group
Typical Innovation Workflow
DMUs / Admins Cross Module Data Analytics & Administration Portal
Future Workflow Modules with Foundation Current RSSS Products
Adding Resolute.ai Modules Completes Workflows for Specific Use Cases Can Be Created for Users from Throughout
Innovation Management |
| Financials |
| Proprietary & Confidential Research Solutions, Inc. 35
Revenue Profile
Platforms
• Fastest-growing and recurring
• No direct substitute
• High retention rates (>105%)
• TTM gross margin 88.0%
Transactions
• Sticky, scalable, repeat revenue
• TTM gross margin 24.2%
$23.7 $24.8 $26.2 $26.0 $27.2 $26.6 $26.1 $28.0
FY16 FY17 FY18 FY19 FY20 FY21 FY22 TTM 3/31/23
$0.4
$1.0
$1.8
$2.8
$3.9
$5.1
$6.8
$8.3
FY16 FY17 FY18 FY19 FY20 FY21 FY22 TTM 3/31/23
FY2016
Revenue
$24.1M
FY2017
Revenue
$25.8M
FY2018
Revenue
$28.0M
FY2019
Revenue
$28.8M
FY2020
Revenue
$31.1M
FY2021
Revenue
$31.8M
FY2022
Revenue
$32.9M
TTM
Revenue
$36.3M |
| Proprietary & Confidential Research Solutions, Inc. 36
Balance Sheet Supports Growth
| © 2022 Research Solutions, Inc. All Rights Reserved
$ Millions Mar 31, 2023 Jun 30, 2022
Cash and equivalents 12.1 10.6
Accounts receivable 6.8 5.3
Prepaid expenses/royalties 0.4 0.3
Other assets 1.3 0.9
Total Assets $20.6 $17.0
Accounts payable 7.7 6.6
Deferred revenue 6.5 5.5
Lease liability 0.0 0.0
Total Liabilities $14.2 $12.1
Total Stockholders' Equity $6.4 $4.9
$12.1 million in cash
$0 debt
Untapped $2.5 million max line of credit with SVB
Federal net operating losses (NOLs) of ~$15 million, state NOLs
of ~$6 million
We are fully funded to execute our organic growth strategy
• Greater of Prime + 1%, or 5%
• NOLs expire completely in 2040
Select Balance Sheet Items |
| Proprietary & Confidential Research Solutions, Inc. 37
Key Takeaways
Strategic SaaS Transformation Underway: platform interconnects &
extracts highly useful scientific, technical & medical content & data
Information Logistics Backbone: transaction business provides multi-million dollar information backbone for platform growth
Large TAM, Underserved Market:~700,000 SMBs throughout the
world, low penetration
Highly Leverageable Financial Model: platforms business drives
recurring revenue, low churn, ~80%+ gross margin
Strong ROI to Users
High renewal rate & over 105% net retention
$4.1M $4.4M $4.7M $5.0M
$5.6M $5.9M $6.3M $6.8M $7.3M
$7.9M $8.3M $8.8M $9.1M
374 401 432 461 512 553 590 646 680 733 756 790 815
Q3 FY20
Q4 FY20
Q1 FY21
Q2 FY21
Q3 FY21
Q4 FY21
Q1 FY22
Q2 FY22
Q3 FY22
Q4 FY22
Q1 FY23
Q2 FY23
Q3 FY23
Annual Recurring Revenue
Cum ulativ e Deployments
$27.0M $27.2M $27.0M $26.7M $26.7M $26.6M $26.2M $26.3M $26.3M $26.1M $26.6M $26.9M
$28.0M
TTM 3/31/20
TTM 6/30/20
TTM 9/30/20
TTM 12/31/20
TTM 3/31/21
TTM 6/30/21
TTM 9/30/21
TTM 12/31/21
TTM 3/31/22
TTM 6/30/22
TTM 9/30/22
TTM 12/31/22
TTM 03/31/23
TTM Revenue
Stable Transaction Business Continues
Platform Transition Underway |
| Proprietary & Confidential Research Solutions, Inc. 38
Key Stats
Stock Price (5/11/23) $2.10
52 Week Low-High $1.69-$2.40
Avg. Daily Vol. (3 month) 12,737
Shares Out/Diluted* 29.5M/32.4M
Insider Holdings* ~29.3%
Enterprise Value $49.8M
Market Cap $62.0M
Employee Count
(including full time
contractors)
152 Total
35 USA/106 MX
11 Contractors
Total Revenue (ttm as of 3/31/23) $36.3M
Net Income (ttm) $(0.2)M
Adjusted EBITDA (ttm) $1.1M
EV/Revenue 1.4x
Cash and Equiv. (mrq) $12.1M
Total Assets (mrq as of 3/31/23) $20.6M
Total Debt (mrq) –
Total Liabilities (mrq) $14.2M
Total Equity $6.4M
Percentage of Outstanding Shares
Peter Derycz & Family 13.3%
Mgmt, Directors, Employees* 16.0%
Richard Witmer, Jr. 8.8%
Bristol Inv. Fund, Ltd. 8.8%
Cove Street Capital 9.0%
Other ~44.1%
Total 100.0 %
* Includes 2.1 million restricted shares issued pursuant to the Company’s Long-Term Equity Bonus Plan (LTEBP). These shares vest in 20% increments at vesting targets ranging between $3.00 and $6.00 per
share. For more information on the LTEBP see our latest Form 10-Q quarterly filing. |
| Proprietary & Confidential Research Solutions, Inc. 39
Management Team
Michiel van der Heijden
Chief Product Officer
Shane Hunt
Chief Revenue Officer
Rick Salloum
Chief Technology Officer
Roy W. Olivier
CEO & President
William Nurthen
Chief Financial Officer
Scott Ahlberg
Chief Operations Officer
Joseph Tracy
Vice President of Marketing |
| Proprietary & Confidential Research Solutions, Inc. 40
www.researchsolutions.com
For more information, please visit:
Investor Relations Contact
Three Part Advisors, LLC / Phone: 214-872-2710
Steven Hooser
shooser@threepa.com
John Beisler
jbeisler@threepa.com
Contact Us
Research Solutions, Inc. / Email: ir@researchsolutions.com
10624 S. Eastern Ave., Ste. A-614 - Henderson, Nevada 89052
Roy W. Olivier
CEO and President
Bill Nurthen
CFO |
| Appendix |
| Proprietary & Confidential Research Solutions, Inc. 42
Capitalization Table
* Includes 2.1 million restricted shares issued pursuant to the Company’s Long-Term Equity Bonus Plan (LTEBP). These shares vest in 20% increments at vesting targets
ranging between $3.00 and $6.00 per share. For more information on the LTEBP see our latest Form 10-Q quarterly filing.
1 Paul Kessler exercises investment & voting control over the shares held by Bristol Investment Fund, Ltd. and is the brother-in-law of Peter Derycz, Chairman.
Security As Of March 31, 2023 Weighted Average
Exercise Price
Percentage
Fully Diluted
Common Stock Outstanding* 29,500,764 N/A 91.0%
Stock Options 2,925,574 $1.87 9.0%
Warrants 0 N/A 0.0%
Fully Diluted Shares Outstanding* 32,426,338 100.0%
Major Shareholders As Of March 31, 2023 Security Percentage OF COMMON
STOCK OUTSTANDING
Peter Derycz & Family 3,935,986 Common Stock 13.3%
Management, Directors, Employees* 4,708,474 Common Stock 16.0%
Richard Witmer, Jr. 2,608,448 Common Stock 8.8%
Bristol Investment Fund, Ltd.1 2,582,108 Common Stock 8.8%
Cove Street Capital 2,646,564 Common Stock 9.0%
Total 16,481,580 55.9% |
| Proprietary & Confidential Research Solutions, Inc. 43
Research Solutions, Inc. (NASDAQ:RSSS)
researchsolutions.com
Includes Non
-GAAP Financial Data
Quarterly Financial Results |
| Proprietary & Confidential Research Solutions, Inc. 44
Research Solutions, Inc. (NASDAQ:RSSS)
researchsolutions.com
Includes Non
-GAAP Financial Data
Quarterly Financial Results |
| Proprietary & Confidential Research Solutions, Inc. 45
Quarterly Financial Results
1 Annual Recurring Revenue (Non-GAAP Measure) - the value of contracted platform subscription recurring revenue normalized to a one year period.
2 Customers - the sum of the total quantity of customers per month for each month in the period, divided by the respective number of months in the period. The quantity of
customers per month is defined as customers with at least one transaction during the month.
3 Adjusted EBITDA (Non-GAAP Measure) - defined as net income (loss), plus interest expense, other income (expense), foreign currency transaction loss, provision for
income taxes, depreciation and amortization, stock-based compensation, income and gain on sale of discontinued operations, and other potential adjustments that may arise.
Research Solutions, Inc. (NASDAQ:RSSS)
researchsolutions.com
Includes Non-GAAP Financial Data |
| Proprietary & Confidential Research Solutions, Inc. 46
Product Summaries
Article Galaxy/References: Enables the discovery, access and management of Scientific content published by all the most important scientific publishers
Article Galaxy Scholar: does this as well but to address specific needs of Academic Libraries
Foundation: links together key datasets relevant to all stages of Innovation via a proprietary Knowledge Graph leveraging expertise in metadata creation
and application of key taxonomies. Use cases cover Competitive & Business Intelligence, R&D, Clinical Research, Medical Affairs (eg: KOLs), Post Market
Surveillance and IP Management (Patents)
Nebula: Leverages the Foundation technology and applies it to customer internal datasets, allowing for the management of both internal and external
datasets and knowledge
Text & Data Mining: A common request form customers is an easy and copyright compliant way to source content from all scientific publishers for TDM
projects. We are currently working with publishers to create a new solution which meets both customer and publisher needs
API's: All these products are available for integration in customer internal tools via API calls |
| Proprietary & Confidential Research Solutions, Inc. 47
Stock Symbol RSSS |
| X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
| Name: |
dei_AmendmentFlag |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
| Name: |
dei_DocumentPeriodEndDate |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:dateItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
| Name: |
dei_DocumentType |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:submissionTypeItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityCentralIndexKey |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:centralIndexKeyItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionIndicate if registrant meets the emerging growth company criteria. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityEmergingGrowthCompany |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
| Name: |
dei_EntityFileNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:fileNumberItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
| Name: |
dei_EntityIncorporationStateCountryCode |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:edgarStateCountryItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityRegistrantName |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityTaxIdentificationNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:employerIdItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionLocal phone number for entity.
| Name: |
dei_LocalPhoneNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
| Name: |
dei_PreCommencementIssuerTenderOffer |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
| Name: |
dei_PreCommencementTenderOffer |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTitle of a 12(b) registered security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
| Name: |
dei_Security12bTitle |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:securityTitleItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionName of the Exchange on which a security is registered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
| Name: |
dei_SecurityExchangeName |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:edgarExchangeCodeItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Section 14a
-Number 240
-Subsection 12
| Name: |
dei_SolicitingMaterial |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
| Name: |
dei_TradingSymbol |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:tradingSymbolItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
| Name: |
dei_WrittenCommunications |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
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