Past performance is not necessarily indicative of future results. 8226;Messaging: White label consumer email solutions. We offer learning and development programs for all employees. The contents of these websites are not incorporated into this filing. The risks that we have highlighted here are not the only ones that we face. 8226;A limited number of customers account for a substantial portion of our revenues. &# 8226;We make investments in new products and services that may not be profitable. &# We are exposed to our customers' credit risk. As such, our growth depends in part on our increasing sales into emerging countries. A failure to accomplish these objectives could materially harm our business. Like all software solutions, our software is vulnerable to these types of attacks. We may not be able to offset the effects of any price reductions. We depend on these companies to maintain the operational integrity of our services. For example, we are currently subletting some of our office space. The industry also demands frequent and, at times, significant technology upgrades. In addition, any efforts to develop non-infringing technology could be unsuccessful. However, several aspects of the legislation remain unclear and subject to interpretation. MINE SAFETY DISCLOSURESNot Applicable.36Table of ContentsPART IIITEM 5. We do not anticipate paying any cash dividends in the foreseeable future. The comparisons shown in the graph below are based upon historical data. Contracts with these customers typically run for three to five years. The year over year change to STIN revenue was in excess of $34.6 million. Our cash and cash equivalents balance was $33.7 million at December 31, 2020. The Preferred Dividends are due on each Series A Dividend Payment Date. The Company generates all of its revenue from contracts with customers. Many of the Company's contracts guarantee minimum volume transactions from the customer. Revenues are presented net of discounts, which are volume level driven. Software revenue is typically recognized when the software is delivered to the customer. The Company's professional services include software development and customization. The contracts generally include project deliverables specified by each customer. The average expected life was determined using historical stock option exercise activity. Amortization begins when the software is substantially completed for its intended use. These investments are denominated in United States dollars. As a result, we are subject to foreign currency transaction risk. We believe that our audits provide a reasonable basis for our opinion. We have also evaluated the adequacy of the Company's disclosures included in Note 3. All material intercompany transactions and accounts are eliminated in consolidation. The Company reviews and update these estimates on a quarterly basis. Estimates of potential credit losses are used to determine the allowance. For further details, see Note 9. However, the Company has elected to not separate lease and non-lease components. Changes in the allowance were not material for the year ended December 31, 2020. As part of the arrangement, APC acquired a majority stake of STIN. No dividends have ever been declared or paid by the Company. The PBCU can be settled in cash or in equity as determined by the Compensation Committee. The 401(k) Plan allows for a discretionary employer match. On December 4, 2020, co-lead plaintiffs filed a consolidated amended comp
