10-Q Filing

ACCESS Newswire Inc. CIK: 843006 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001354488-11-002412`
Period End Date	20110630
Filing Date	20110802
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	isdr-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 68 Cash Flow Statement 56

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$118.67K	USD	Point-in-time
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$56.02K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$616.43K	USD	Point-in-time
Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$65.50K	USD	Point-in-time
Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$55.17K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$146.04K	USD	Point-in-time
Accounts receivable, (net of allowance for doubtful accounts of $118,673 and $56,024, respectively)	`AccountsReceivableNetCurrent`	$175.34K	USD	Point-in-time
Accounts receivable, (net of allowance for doubtful accounts of $118,673 and $56,024, respectively)	`AccountsReceivableNetCurrent`	$369.45K	USD	Point-in-time
Deferred income tax asset current	`DeferredTaxAssetsNetCurrent`	$102.40K	USD	Point-in-time
Deferred income tax asset current	`DeferredTaxAssetsNetCurrent`	$168.18K	USD	Point-in-time
Preferred Stock shares par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred Stock shares par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred Stock shares Authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$52.44K	USD	Point-in-time
Preferred Stock shares Authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$16.58K	USD	Point-in-time
Preferred Stock shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$799.03K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.21M	USD	Point-in-time
Preferred Stock shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Furniture, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$69.14K	USD	Point-in-time
Furniture, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$53.38K	USD	Point-in-time
Preferred Stock shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred income tax noncurrent	`DeferredTaxAssetsNetNoncurrent`	$118.40K	USD	Point-in-time
Series A shares designated	`SeriesASharesDesignated`	60.00	shares	Point-in-time
Series A shares designated	`SeriesASharesDesignated`	60.00	shares	Point-in-time
Deferred income tax noncurrent	`DeferredTaxAssetsNetNoncurrent`	$40.00K	USD	Point-in-time
Series B shares designated	`SeriesBSharesDesignated`	476,200.00	shares	Point-in-time
Series B shares designated	`SeriesBSharesDesignated`	476,200.00	shares	Point-in-time
Intangible assets (net of accumulated amortization of $65,500 and $55,166, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$93.03K	USD	Point-in-time
Intangible assets (net of accumulated amortization of $65,500 and $55,166, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$122.70K	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$15.58K	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$16.11K	USD	Point-in-time
Common Stock shares par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock shares par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$1.08M	USD	Point-in-time
Total assets	`Assets`	$1.45M	USD	Point-in-time
Common Stock shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	17.69M	shares	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	17.52M	shares	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	17.69M	shares	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	17.52M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$65.57K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$139.71K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$43.78K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$34.92K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$51.38K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$35.83K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$219.31K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$151.87K	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$44.71K	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$19.81K	USD	Point-in-time
Total liabilities	`Liabilities`	$171.68K	USD	Point-in-time
Total liabilities	`Liabilities`	$264.02K	USD	Point-in-time
Preferred stock, $1.00 par value, 30,000,000 shares authorized Series A, 60 shares designated, no shares issued and outstanding; Series B, 476,200 shares designated, no shares issued and outstanding.	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $1.00 par value, 30,000,000 shares authorized Series A, 60 shares designated, no shares issued and outstanding; Series B, 476,200 shares designated, no shares issued and outstanding.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $.001 par value, 100,000,000 shares authorized,17,524,297 and 17,685,312 shares issued and outstanding as of June 30, 2011 and December 31, 2010, respectively.	`CommonStockValue`	$17.52K	USD	Point-in-time
Common stock $.001 par value, 100,000,000 shares authorized,17,524,297 and 17,685,312 shares issued and outstanding as of June 30, 2011 and December 31, 2010, respectively.	`CommonStockValue`	$17.68K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.67M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.66M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-496.73K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-771.17K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$907.73K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.19M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.08M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.45M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$2.36M	USD	1 Quarter
Revenues	`Revenues`	$1.62M	USD	2 Qtrs
Revenues	`Revenues`	$1.10M	USD	1 Quarter
Revenues	`Revenues`	$2.96M	USD	2 Qtrs
Cost of services	`CostOfServices`	$1.91M	USD	1 Quarter
Cost of services	`CostOfServices`	$437.12K	USD	1 Quarter
Cost of services	`CostOfServices`	$669.21K	USD	2 Qtrs
Cost of services	`CostOfServices`	$2.11M	USD	2 Qtrs
Gross profit	`GrossProfit`	$852.38K	USD	2 Qtrs
Gross profit	`GrossProfit`	$948.22K	USD	2 Qtrs
Gross profit	`GrossProfit`	$446.55K	USD	1 Quarter
Gross profit	`GrossProfit`	$666.76K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$490.17K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$205.68K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$256.43K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$365.98K	USD	2 Qtrs
Sales and marketing expenses	`SellingAndMarketingExpense`	$86.30K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$103.32K	USD	1 Quarter
Sales and marketing expenses	`SellingAndMarketingExpense`	$150.85K	USD	2 Qtrs
Sales and marketing expenses	`SellingAndMarketingExpense`	$167.51K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$21.58K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$13.18K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$25.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$10.18K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$666.02K	USD	2 Qtrs
Total operating costs and expenses	`OperatingExpenses`	$355.91K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$319.18K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$555.07K	USD	2 Qtrs
Net operating income	`OperatingIncomeLoss`	$310.84K	USD	1 Quarter
Net operating income	`OperatingIncomeLoss`	$127.37K	USD	1 Quarter
Net operating income	`OperatingIncomeLoss`	$297.31K	USD	2 Qtrs
Net operating income	`OperatingIncomeLoss`	$282.20K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$4.86K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$-33.80K	USD	2 Qtrs
Interest income (expense), net	`InterestIncomeExpenseNet`	$1.47K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$2.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-33.80K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$4.86K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$1.47K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$2.00K	USD	1 Quarter
Net income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$263.51K	USD	2 Qtrs
Net income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$287.06K	USD	2 Qtrs
Net income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$128.84K	USD	1 Quarter
Net income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$312.84K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$-12.62K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$-12.62K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$300.22K	USD	1 Quarter
Net income	`NetIncomeLoss`	$263.51K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$274.44K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$128.84K	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.02	USD	2 Qtrs
Income per share - basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Income per share - basic	`EarningsPerShareBasic`	$0.02	USD	2 Qtrs
Income per share - basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.02	USD	2 Qtrs
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.02	USD	2 Qtrs
Income per share - fully diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.63M	shares	2 Qtrs
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.49M	shares	1 Quarter
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.17M	shares	2 Qtrs
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.57M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.32M	shares	2 Qtrs
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.73M	shares	2 Qtrs
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.63M	shares	1 Quarter
Weighted average number of common shares outstanding - fully diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.75M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$300.22K	USD	1 Quarter
Net income	`NetIncomeLoss`	$263.51K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$274.44K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$128.84K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$21.58K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$13.18K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$25.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$10.18K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$85.34K	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$47.78K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$12.62K	USD	2 Qtrs
Non-cash interest expense	`OtherNoncashExpense`	$34.18K	USD	2 Qtrs
Non-cash interest expense	`OtherNoncashExpense`	-	USD	2 Qtrs
Stock-based expenses	`ShareBasedCompensation`	$43.59K	USD	2 Qtrs
Stock-based expenses	`ShareBasedCompensation`	$45.00K	USD	2 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-731.73K	USD	2 Qtrs
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-279.46K	USD	2 Qtrs
Decrease (increase) in deposits and prepaids	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-36.39K	USD	2 Qtrs
Decrease (increase) in deposits and prepaids	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-14.73K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$74.14K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.67M	USD	2 Qtrs
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$33.76K	USD	2 Qtrs
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$149.17K	USD	2 Qtrs
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	2 Qtrs
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-15.55K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$217.49K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.48M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-30.43K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-7.21K	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$-40.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-70.43K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.21K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$-35.34K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-35.34K	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.48M	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$111.72K	USD	2 Qtrs
Cash beginning	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash beginning	`CashAndCashEquivalentsAtCarryingValue`	$616.43K	USD	Point-in-time
Cash beginning	`CashAndCashEquivalentsAtCarryingValue`	$146.04K	USD	Point-in-time
Cash ending	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash ending	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash ending	`CashAndCashEquivalentsAtCarryingValue`	$616.43K	USD	Point-in-time
Cash ending	`CashAndCashEquivalentsAtCarryingValue`	$146.04K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$518.00	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$29.00	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Related party notes payable and accrued interest converted to common shares	`StockIssued1`	$59.67K	USD	2 Qtrs
Related party notes payable and accrued interest converted to common shares	`StockIssued1`	-	USD	2 Qtrs
Related party notes payable and accrued interest converted to preferred shares	`RelatedPartyNotesPayableAndAccruedInterestConvertedToPreferredShares`	-	USD	2 Qtrs
Related party notes payable and accrued interest converted to preferred shares	`RelatedPartyNotesPayableAndAccruedInterestConvertedToPreferredShares`	$27.78K	USD	2 Qtrs

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