10-Q Filing

INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC CIK: 354813 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0000354813-14-000008`
Period End Date	20140731
Filing Date	20140912
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	itsi-20140731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 34 Cash Flow Statement 44

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.44M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.63M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.79M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$75.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$712.00K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $75	`AccountsReceivableNetCurrent`	$1.79M	USD	Point-in-time
Deferred cost of revenues	`DeferredCostsCurrent`	$19.00K	USD	Point-in-time
Deferred cost of revenues	`DeferredCostsCurrent`	$3.00K	USD	Point-in-time
Preferred shares, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Inventories	`InventoryNet`	$1.25M	USD	Point-in-time
Inventories	`InventoryNet`	$1.40M	USD	Point-in-time
Preferred shares, par value (in dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$217.00K	USD	Point-in-time
Preferred shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$208.00K	USD	Point-in-time
Preferred shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred shares, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred shares, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$13.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.77M	USD	Point-in-time
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$589.00K	USD	Point-in-time
Equipment, furniture and fixtures, net	`PropertyPlantAndEquipmentNet`	$612.00K	USD	Point-in-time
Preferred shares, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred shares, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$49.00K	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$49.00K	USD	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total assets	`Assets`	$13.44M	USD	Point-in-time
Total assets	`Assets`	$13.69M	USD	Point-in-time
Total assets	`Assets`	$14.87M	USD	Point-in-time
Common shares, shares issued (in shares)	`CommonStockSharesIssued`	12.96M	shares	Point-in-time
Common shares, shares issued (in shares)	`CommonStockSharesIssued`	12.96M	shares	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	12.96M	shares	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	12.96M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$397.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$646.00K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$640.00K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$499.00K	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$200.00K	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$188.00K	USD	Point-in-time
Payable to Parent	`AccountsPayableRelatedPartiesCurrent`	$152.00K	USD	Point-in-time
Payable to Parent	`AccountsPayableRelatedPartiesCurrent`	$152.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$41.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$40.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$540.00K	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$470.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.08M	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$11.00K	USD	Point-in-time
Long-term liabilities	`LiabilitiesNoncurrent`	$11.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.90M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred shares, no par value; 20,000 shares authorized; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares, no par value; 20,000 shares authorized; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common shares, no par value; 50,000 shares authorized; 12,963 shares issued and outstanding	`CommonStockValue`	$56.37M	USD	Point-in-time
Common shares, no par value; 50,000 shares authorized; 12,963 shares issued and outstanding	`CommonStockValue`	$56.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-44.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-44.83M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$11.61M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$11.54M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$13.44M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$13.69M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Sales of products	`SalesRevenueGoodsNet`	$2.56M	USD	1 Quarter
Sales of products	`SalesRevenueGoodsNet`	$7.31M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$456.00K	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$316.00K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$2.87M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$7.77M	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$5.93M	USD	1 Quarter
Cost of product sales	`CostOfGoodsSold`	$1.89M	USD	1 Quarter
Cost of services	`CostOfServices`	$103.00K	USD	1 Quarter
Cost of services	`CostOfServices`	$131.00K	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$1.99M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$6.06M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.71M	USD	1 Quarter
Gross profit	`GrossProfit`	$882.00K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$150.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$588.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$657.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$75.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.12M	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$1.00K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	-	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$1.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$76.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.12M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$452.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$670.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$70.00K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.96M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	12.96M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$670.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$70.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$59.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$46.00K	USD	1 Quarter
Warranty reserve expense	`ProductWarrantyExpense`	$23.00K	USD	1 Quarter
Warranty reserve expense	`ProductWarrantyExpense`	$171.00K	USD	1 Quarter
Loss on disposal of equipment	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Loss on disposal of equipment	`GainLossOnDispositionOfAssets`	$-25.00K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-405.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.08M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-276.00K	USD	1 Quarter
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$59.00K	USD	1 Quarter
Deferred cost of revenues	`IncreaseDecreaseInDeferredCharges`	$16.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-149.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-621.00K	USD	1 Quarter
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$-9.00K	USD	1 Quarter
Other current and noncurrent assets	`IncreaseDecreaseInOtherOperatingAssets`	$-101.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-1.11M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$249.00K	USD	1 Quarter
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$57.00K	USD	1 Quarter
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-141.00K	USD	1 Quarter
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-11.00K	USD	1 Quarter
Warranty reserves	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-54.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-1.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$30.00K	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$70.00K	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-1.72M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-546.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-616.00K	USD	1 Quarter
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$79.00K	USD	1 Quarter
Additions to equipment, furniture and fixtures	`PaymentsToAcquirePropertyPlantAndEquipment`	$36.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-36.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-79.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-625.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-652.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.26M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.44M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.63M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.79M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.26M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.44M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.63M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.79M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.