10-K Filing

ACCESS Newswire Inc. CIK: 843006 FY 2010

Filing Information

Form Type	10-K
Accession Number	`0001354488-11-000682`
Period End Date	20101231
Filing Date	20110301
Fiscal Year	2010
Fiscal Period	FY
XBRL Instance	isdr-20101231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 41 Income Statement 34 Cash Flow Statement 39 Stockholders Equity 17

Balance Sheet 41 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$146.04K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.37K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $56,024 and $16,785, respectively)	`AccountsReceivableNetCurrent`	$152.07K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $56,024 and $16,785, respectively)	`AccountsReceivableNetCurrent`	$175.34K	USD	Point-in-time
Security deposits - current	`OtherRestrictedAssetsCurrent`	$6.24K	USD	Point-in-time
Deferred income tax asset - current	`DeferredTaxAssetsNetCurrent`	$102.40K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$16.58K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$19.20K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$799.03K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$323.56K	USD	Point-in-time
Furniture, equipment and improvements, net	`FurnitureAndFixturesGross`	$21.09K	USD	Point-in-time
Furniture, equipment and improvements, net	`FurnitureAndFixturesGross`	$53.38K	USD	Point-in-time
Deferred income tax asset - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$118.40K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$15.58K	USD	Point-in-time
Intangible assets (net of accumulated amortization of $55,166 and $67,833, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$120.36K	USD	Point-in-time
Intangible assets (net of accumulated amortization of $55,166 and $67,833, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$93.03K	USD	Point-in-time
Total assets	`Assets`	$465.00K	USD	Point-in-time
Total assets	`Assets`	$1.08M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$65.57K	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$51.72K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$59.81K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$34.92K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$51.38K	USD	Point-in-time
Notes payable- related party	`NotesPayableRelatedPartiesCurrent`	$73.53K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$151.87K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$185.05K	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$19.81K	USD	Point-in-time
Total liabilities	`Liabilities`	$185.05K	USD	Point-in-time
Total liabilities	`Liabilities`	$171.68K	USD	Point-in-time
Preferred stock, $1.00 par value, 30,000,000 shares authorized Series A, 60 shares designated, 0 and 5 shares issued and outstanding, respectively	`PreferredStockValue`	$5.00	USD	Point-in-time
Common stock $0.001 par value, 100,000,000 shares authorized, 17,685,312 and 16,826,342 shares issued and outstanding, respectively	`CommonStockValue`	$17.68K	USD	Point-in-time
Common stock $0.001 par value, 100,000,000 shares authorized, 17,685,312 and 16,826,342 shares issued and outstanding, respectively	`CommonStockValue`	$16.83K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-771.17K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$279.95K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$907.73K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.08M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$465.00K	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$1.89M	USD	Annual
Revenues	`Revenues`	$3.86M	USD	Annual
Cost of services	`CostOfServices`	$2.51M	USD	Annual
Cost of services	`CostOfServices`	$786.63K	USD	Annual
Gross profit	`GrossProfit`	$1.35M	USD	Annual
Gross profit	`GrossProfit`	$1.10M	USD	Annual
Gereral and administrative	`GeneralAndAdministrativeExpense`	$537.60K	USD	Annual
Gereral and administrative	`GeneralAndAdministrativeExpense`	$742.17K	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$247.89K	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$337.85K	USD	Annual
Impairment charges	`AssetImpairmentCharges`	$4.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$39.17K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$38.25K	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$823.74K	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$1.12M	USD	Annual
Operating income	`OperatingIncomeLoss`	$227.90K	USD	Annual
Operating income	`OperatingIncomeLoss`	$274.86K	USD	Annual
Interest expense, net	`InterestExpense`	$688.00	USD	Annual
Interest expense, net	`InterestExpense`	$19.30K	USD	Annual
Total other income (expense)	`OtherIncomeTotal`	$-19.30K	USD	Annual
Total other income (expense)	`OtherIncomeTotal`	$-688.00	USD	Annual
Net income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$208.61K	USD	Annual
Net income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$274.17K	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-220.80K	USD	Annual
Net income	`NetIncomeLoss`	$274.17K	USD	Annual
Net income	`NetIncomeLoss`	$429.41K	USD	Annual
Income (loss) per share - basic	`EarningsPerShareBasic`	$0.02	USD	Annual
Income (loss) per share - basic	`EarningsPerShareBasic`	$0.02	USD	Annual
Income (loss) per share - diluted	`EarningsPerShareDiluted`	$0.02	USD	Annual
Income (loss) per share - diluted	`EarningsPerShareDiluted`	$0.02	USD	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.01M	shares	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.41M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.06M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.60M	shares	Annual

Cash Flow Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$274.17K	USD	Annual
Net income	`NetIncomeLoss`	$429.41K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$51.45K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$61.34K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$39.17K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$38.25K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-220.80K	USD	Annual
Impairment charges	`AssetImpairmentCharges`	$4.00K	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	$34.18K	USD	Annual
Stock-based expenses	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$10.00K	USD	Annual
Stock-based expenses	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$116.25K	USD	Annual
Increase (decrease) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$74.71K	USD	Annual
Increase (decrease) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$47.73K	USD	Annual
Increase (decrease) in deposits and prepaids	`IncreaseDecreaseInDeposits`	$6.71K	USD	Annual
Increase (decrease) in deposits and prepaids	`IncreaseDecreaseInDeposits`	$14.35K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$13.86K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-91.84K	USD	Annual
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$51.38K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$8.84K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-43.24K	USD	Annual
Total net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$446.30K	USD	Annual
Total net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$186.60K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquireMachineryAndEquipment`	$16.01K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquireMachineryAndEquipment`	$48.13K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-16.01K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-48.13K	USD	Annual
Repurchase of common and preferred stock	`PaymentsForRepurchaseOfCommonStock`	$10.08K	USD	Annual
Repurchase of common and preferred stock	`PaymentsForRepurchaseOfCommonStock`	$39.50K	USD	Annual
Repayments of notes payable	`RepaymentsOfNotesPayable`	$64.83K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-74.91K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-39.50K	USD	Annual
Total net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$358.67K	USD	Annual
Total net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$95.68K	USD	Annual
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$146.04K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$50.37K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$146.04K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$50.37K	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance(Beginning)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$907.73K	USD	Point-in-time
Balance(Beginning)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-19.14K	USD	Point-in-time
Balance(Beginning)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$279.95K	USD	Point-in-time
Conversion of notes payable for common stock	`ConversionOfNotePayableForCommonStock`	$59.67K	USD	Annual
Conversion of note payable for preferred stock	`ConversionOfNotePayableForPreferredStock`	$27.78K	USD	Annual
Non-cash interest expense on notes payable	`NonCashInterestExpenseOnNotesPayable`	$34.18K	USD	Annual
Repurchase and retirement of treasury shares	`StockRepurchasedAndRetiredDuringPeriodValue`	$-10.08K	USD	Annual
Repurchase and retirement of treasury shares	`StockRepurchasedAndRetiredDuringPeriodValue`	$-39.50K	USD	Annual
Issuance of common stock for employee incentives	`StockIssuedDuringPeriodValueShareBasedCompensation`	$25.00K	USD	Annual
Issuance of common stock for services	`StockIssuedDuringPeriodValueNewIssues`	$10.00K	USD	Annual
Issuance of common stock for services	`StockIssuedDuringPeriodValueNewIssues`	$84.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$32.24K	USD	Annual
Net income	`NetIncomeLoss`	$274.17K	USD	Annual
Net income	`NetIncomeLoss`	$429.41K	USD	Annual
Balance(Ending)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$907.73K	USD	Point-in-time
Balance(Ending)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-19.14K	USD	Point-in-time
Balance(Ending)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$279.95K	USD	Point-in-time

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