10-Q Filing

EROOMSYSTEM TECHNOLOGIES INC CIK: 1110361 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001185185-11-001324`
Period End Date	20110630
Filing Date	20110815
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	erms-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 68 Cash Flow Statement 48 Comprehensive Income 4

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$7.67K	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$18.24K	USD	Point-in-time
Accumulated depreciation (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$34.77K	USD	Point-in-time
Accumulated depreciation (in Dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$23.98K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.15M	USD	Point-in-time
Accumulated amortization (in Dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$3.38K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.02M	USD	Point-in-time
Accumulated amortization (in Dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$5.06K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.30M	USD	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Investment in equity securities available for sale	`AvailableForSaleSecuritiesEquitySecuritiesCurrent`	$14.17K	USD	Point-in-time
Investment in equity securities available for sale	`AvailableForSaleSecuritiesEquitySecuritiesCurrent`	$42.50K	USD	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Investment in real property tax liens	`OtherShortTermInvestments`	$60.30K	USD	Point-in-time
Investment in real property tax liens	`OtherShortTermInvestments`	$39.10K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $7,667 at June 30, 2011 and $18,240 at December 31, 2010	`AccountsReceivableNetCurrent`	$43.44K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $7,667 at June 30, 2011 and $18,240 at December 31, 2010	`AccountsReceivableNetCurrent`	$103.80K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	$147.07K	USD	Point-in-time
Inventory	`InventoryNet`	$120.19K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Advance to supplier	`AdvancesOnInventoryPurchases`	$48.68K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Note receivable	`NotesAndLoansReceivableNetCurrent`	$522.68K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.91M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.98M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$34.66K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.04K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	23.98M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	23.91M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.49M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.08M	USD	Point-in-time
NOTE RECEIVABLE	`NotesAndLoansReceivableNetNoncurrent`	$522.44K	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $34,773at June 30, 2011 and $23,975 at December 31, 2010	`PropertyPlantAndEquipmentNet`	$120.71K	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $34,773at June 30, 2011 and $23,975 at December 31, 2010	`PropertyPlantAndEquipmentNet`	$115.87K	USD	Point-in-time
INTANGIBLE ASSETS, net of accumulated amortization of $5,064 at June 30, 2011 and $3,376 at December 31, 2010	`IntangibleAssetsNetExcludingGoodwill`	$1.69K	USD	Point-in-time
DEPOSITS	`DepositsAssetsNoncurrent`	$2.25K	USD	Point-in-time
DEPOSITS	`DepositsAssetsNoncurrent`	$2.25K	USD	Point-in-time
Total Assets	`Assets`	$3.20M	USD	Point-in-time
Total Assets	`Assets`	$3.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$21.40K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.54K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$38.94K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$81.01K	USD	Point-in-time
Customer deposits	`CustomerAdvancesCurrent`	$2.00K	USD	Point-in-time
Customer deposits	`CustomerAdvancesCurrent`	$2.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$54.48K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$104.41K	USD	Point-in-time
Total Liabilities	`Liabilities`	$54.48K	USD	Point-in-time
Total Liabilities	`Liabilities`	$104.41K	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized; none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized; none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; shares outstanding 23,982,865 at June 30, 2011 and 23,907,865 at December 31, 2010	`CommonStockValue`	$23.98K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; shares outstanding 23,982,865 at June 30, 2011 and 23,907,865 at December 31, 2010	`CommonStockValue`	$23.91K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$34.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$34.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-31.13M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-31.13M	USD	Point-in-time
Accumulated other comprehensive gain	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$14.17K	USD	Point-in-time
Accumulated other comprehensive gain	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$42.50K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$3.08M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$3.10M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.20M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.13M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Product sales	`SalesRevenueGoodsNet`	$149.07K	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$295.19K	USD	2 Qtrs
Product sales	`SalesRevenueGoodsNet`	$219.11K	USD	1 Quarter
Product sales	`SalesRevenueGoodsNet`	$409.99K	USD	2 Qtrs
Maintenance fees	`LicenseAndMaintenanceRevenue`	$87.86K	USD	2 Qtrs
Maintenance fees	`LicenseAndMaintenanceRevenue`	$43.48K	USD	1 Quarter
Maintenance fees	`LicenseAndMaintenanceRevenue`	$99.55K	USD	2 Qtrs
Maintenance fees	`LicenseAndMaintenanceRevenue`	$49.67K	USD	1 Quarter
Interest income	`InvestmentIncomeInterestAndDividend`	$28.10K	USD	1 Quarter
Interest income	`InvestmentIncomeInterestAndDividend`	$53.05K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterestAndDividend`	$22.64K	USD	1 Quarter
Interest income	`InvestmentIncomeInterestAndDividend`	$55.84K	USD	2 Qtrs
Loss on other than temporary decline in marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-50.00K	USD	1 Quarter
Loss on other than temporary decline in marketable securities	`MarketableSecuritiesUnrealizedGainLoss`	$-50.00K	USD	2 Qtrs
Total Revenue	`Revenues`	$512.59K	USD	2 Qtrs
Total Revenue	`Revenues`	$220.65K	USD	1 Quarter
Total Revenue	`Revenues`	$438.89K	USD	2 Qtrs
Total Revenue	`Revenues`	$241.41K	USD	1 Quarter
Product sales	`CostOfGoodsSold`	$82.35K	USD	1 Quarter
Product sales	`CostOfGoodsSold`	$117.70K	USD	1 Quarter
Product sales	`CostOfGoodsSold`	$251.77K	USD	2 Qtrs
Product sales	`CostOfGoodsSold`	$163.86K	USD	2 Qtrs
Maintenance	`CostOfServicesLicensesAndMaintenanceAgreements`	$4.78K	USD	1 Quarter
Maintenance	`CostOfServicesLicensesAndMaintenanceAgreements`	$7.52K	USD	2 Qtrs
Maintenance	`CostOfServicesLicensesAndMaintenanceAgreements`	$7.38K	USD	1 Quarter
Maintenance	`CostOfServicesLicensesAndMaintenanceAgreements`	$23.14K	USD	2 Qtrs
Total Cost of Revenue	`CostOfRevenue`	$171.38K	USD	2 Qtrs
Total Cost of Revenue	`CostOfRevenue`	$87.13K	USD	1 Quarter
Total Cost of Revenue	`CostOfRevenue`	$125.08K	USD	1 Quarter
Total Cost of Revenue	`CostOfRevenue`	$274.90K	USD	2 Qtrs
GROSS MARGIN	`GrossProfit`	$133.53K	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$237.69K	USD	2 Qtrs
GROSS MARGIN	`GrossProfit`	$267.51K	USD	2 Qtrs
GROSS MARGIN	`GrossProfit`	$116.33K	USD	1 Quarter
Selling, general and administrative expense, including non-cash compensation of $10,500, $11,250, $10,500 and $12,351, respectively	`SellingGeneralAndAdministrativeExpense`	$117.42K	USD	1 Quarter
Selling, general and administrative expense, including non-cash compensation of $10,500, $11,250, $10,500 and $12,351, respectively	`SellingGeneralAndAdministrativeExpense`	$221.50K	USD	2 Qtrs
Selling, general and administrative expense, including non-cash compensation of $10,500, $11,250, $10,500 and $12,351, respectively	`SellingGeneralAndAdministrativeExpense`	$236.37K	USD	2 Qtrs
Selling, general and administrative expense, including non-cash compensation of $10,500, $11,250, $10,500 and $12,351, respectively	`SellingGeneralAndAdministrativeExpense`	$124.07K	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$21.48K	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$47.23K	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$33.02K	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$31.30K	USD	1 Quarter
Net Operating Expenses	`OperatingExpenses`	$148.72K	USD	1 Quarter
Net Operating Expenses	`OperatingExpenses`	$145.55K	USD	1 Quarter
Net Operating Expenses	`OperatingExpenses`	$268.73K	USD	2 Qtrs
Net Operating Expenses	`OperatingExpenses`	$269.39K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-12.03K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-31.70K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-1.22K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-32.38K	USD	1 Quarter
Unrealized gain (loss) on investment in equity securities available for sale	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-9.63K	USD	1 Quarter
Unrealized gain (loss) on investment in equity securities available for sale	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$85.00K	USD	2 Qtrs
Unrealized gain (loss) on investment in equity securities available for sale	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-28.33K	USD	2 Qtrs
Unrealized gain (loss) on investment in equity securities available for sale	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$85.00K	USD	1 Quarter
Reclassification adjustment for losses included in operations	`OtherComprehensiveIncomeReclassificationAdjustmentForWriteDownOfSecuritiesIncludedInNetIncomeNetOfTax`	$-50.00K	USD	2 Qtrs
Reclassification adjustment for losses included in operations	`OtherComprehensiveIncomeReclassificationAdjustmentForWriteDownOfSecuritiesIncludedInNetIncomeNetOfTax`	$-50.00K	USD	1 Quarter
Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTax`	$102.61K	USD	1 Quarter
Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTax`	$103.30K	USD	2 Qtrs
Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTax`	$-29.55K	USD	2 Qtrs
Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTax`	$-21.66K	USD	1 Quarter
Basic Loss Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic Loss Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic Loss Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	-	USD	2 Qtrs
Basic Loss Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	-	USD	2 Qtrs
Diluted Loss Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted Loss Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Diluted Loss Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Diluted Loss Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-12.03K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-31.70K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.22K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-32.38K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.49K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.98K	USD	2 Qtrs
Loss allowance on investment in real property tax liens	`LossAllowanceOnInvestmentInRealPropertyTaxLiens`	$5.00K	USD	2 Qtrs
Loss for other than temporary decline in marketable securities	`MarketableSecuritiesRealizedGainLoss`	$-50.00K	USD	2 Qtrs
Non-cash compensation expense	`ShareBasedCompensation`	$12.35K	USD	2 Qtrs
Non-cash compensation expense	`ShareBasedCompensation`	$10.50K	USD	2 Qtrs
Non-cash compensation expense	`ShareBasedCompensation`	$11.25K	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$10.50K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$60.36K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-11.84K	USD	2 Qtrs
Accrued interest receivable	`IncreaseDecreaseInOtherReceivables`	$247.00	USD	2 Qtrs
Accrued interest receivable	`IncreaseDecreaseInOtherReceivables`	$246.00	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$20.91K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-10.22K	USD	2 Qtrs
Advance to supplier	`IncreaseDecreaseInDepositOtherAssets`	$1.99K	USD	2 Qtrs
Advance to supplier	`IncreaseDecreaseInDepositOtherAssets`	$48.68K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$7.31K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-29.61K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-14.59K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-7.86K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-42.07K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-30.74K	USD	2 Qtrs
Net Cash Provided By (Used In) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$72.42K	USD	2 Qtrs
Net Cash Provided By (Used In) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-14.22K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$74.90K	USD	2 Qtrs
Purchase of investments in real property tax liens	`PaymentsToAcquireInvestments`	$709.00	USD	2 Qtrs
Purchase of investments in real property tax liens	`PaymentsToAcquireInvestments`	$107.86K	USD	2 Qtrs
Proceeds from collections of real property tax liens	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$20.58K	USD	2 Qtrs
Proceeds from collections of real property tax liens	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$21.91K	USD	2 Qtrs
Purchase of short-term investment	`PaymentsToAcquireShortTermInvestments`	$104.40K	USD	2 Qtrs
Net Cash Provided by (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$21.20K	USD	2 Qtrs
Net Cash Provided by (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-266.58K	USD	2 Qtrs
CASH FLOWS FROM FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
CASH FLOWS FROM FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net Increase (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-280.80K	USD	2 Qtrs
Net Increase (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$93.62K	USD	2 Qtrs
Cash and cash equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.15M	USD	Point-in-time
Cash and cash equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.02M	USD	Point-in-time
Cash and cash equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
Cash and cash equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.30M	USD	Point-in-time
Cash and cash equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.15M	USD	Point-in-time
Cash and cash equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.02M	USD	Point-in-time
Cash and cash equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
Cash and cash equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.30M	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Selling, general and administrative expense, non-cash compensation	`ShareBasedCompensation`	$12.35K	USD	2 Qtrs
Selling, general and administrative expense, non-cash compensation	`ShareBasedCompensation`	$10.50K	USD	2 Qtrs
Selling, general and administrative expense, non-cash compensation	`ShareBasedCompensation`	$11.25K	USD	1 Quarter
Selling, general and administrative expense, non-cash compensation	`ShareBasedCompensation`	$10.50K	USD	1 Quarter

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