10-K Filing

ACCESS Newswire Inc. CIK: 843006 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001354488-12-000920`
Period End Date	20111231
Filing Date	20120301
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	isdr-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 36 Cash Flow Statement 52 Stockholders Equity 16

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$125.99K	USD	Point-in-time
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$56.02K	USD	Point-in-time
Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$79.17K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$862.39K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$146.04K	USD	Point-in-time
Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$55.17K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $125,987 and $56,024, respectively)	`AccountsReceivableNet`	$175.34K	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $125,987 and $56,024, respectively)	`AccountsReceivableNet`	$361.19K	USD	Point-in-time
Preferred Stock shares par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Deferred project costs	`DeferredProjectCosts`	-	USD	Point-in-time
Deferred project costs	`DeferredProjectCosts`	$76.11K	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
Deferred income tax asset - current	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$135.00K	USD	Point-in-time
Preferred Stock shares Authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Deferred income tax asset - current	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$102.40K	USD	Point-in-time
Preferred Stock shares Issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$35.09K	USD	Point-in-time
Preferred Stock shares Issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$16.58K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$799.03K	USD	Point-in-time
Preferred Stock shares Outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred Stock shares Outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.47M	USD	Point-in-time
Furniture, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$66.61K	USD	Point-in-time
Series A shares designated	`SeriesASharesDesignated`	60.00	shares	Point-in-time
Furniture, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$53.38K	USD	Point-in-time
Series A shares designated	`SeriesASharesDesignated`	60.00	shares	Point-in-time
Deferred income tax asset - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$64.00K	USD	Point-in-time
Deferred income tax asset - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$118.40K	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
Other long-term assets	`OtherAssetsNoncurrent`	$22.07K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$15.58K	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
Common Stock shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Intangible assets (net of accumulated amortization of $79,166 and $55,166, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$109.03K	USD	Point-in-time
Intangible assets (net of accumulated amortization of $79,166 and $55,166, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$93.03K	USD	Point-in-time
Common Stock shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total assets	`Assets`	$1.73M	USD	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	1.75M	shares	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	1.75M	shares	Point-in-time
Total assets	`Assets`	$1.08M	USD	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	1.77M	shares	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	1.77M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$103.57K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$65.57K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$34.92K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$39.32K	USD	Point-in-time
Accrued litigation	`AccruedLitigation`	-	USD	Point-in-time
Accrued litigation	`AccruedLitigation`	$130.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$51.38K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$177.71K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$450.60K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$151.87K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$69.29K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$19.81K	USD	Point-in-time
Total liabilities	`Liabilities`	$519.88K	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, 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	`PreferredStockValue`	-	USD	Point-in-time
Series B, 476,200 shares designated; no shares issued and outstanding	`SeriesB476200SharesDesignatedNoSharesIssuedAndOutstanding`	-	USD	Point-in-time
Series B, 476,200 shares designated; no shares issued and outstanding	`SeriesB476200SharesDesignatedNoSharesIssuedAndOutstanding`	-	USD	Point-in-time
Common stock $0.001 par value, 100,000,000 shares authorized, 1,752,175 and 1,768,531 shares issued and outstanding, respectively	`CommonStockValue`	$1.75K	USD	Point-in-time
Common stock $0.001 par value, 100,000,000 shares authorized, 1,752,175 and 1,768,531 shares issued and outstanding, respectively	`CommonStockValue`	$1.77K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.68M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-771.17K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-531.89K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$279.95K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$907.73K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.21M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.73M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.08M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.23M	USD	Annual
Revenues	`Revenues`	$3.86M	USD	Annual
Cost of services	`CostOfServices`	$2.51M	USD	Annual
Cost of services	`CostOfServices`	$1.39M	USD	Annual
Gross profit	`GrossProfit`	$1.35M	USD	Annual
Gross profit	`GrossProfit`	$1.84M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$742.17K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$965.16K	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$337.85K	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$361.64K	USD	Annual
Impairment charges	`AssetImpairmentCharges`	$4.00K	USD	Annual
Impairment charges	`AssetImpairmentCharges`	-	USD	Annual
Litigation	`Litigation`	-	USD	Annual
Litigation	`Litigation`	$206.26K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$54.70K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$39.17K	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$1.12M	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$1.59M	USD	Annual
Operating income	`OperatingIncomeLoss`	$248.37K	USD	Annual
Operating income	`OperatingIncomeLoss`	$227.90K	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$-19.30K	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$12.71K	USD	Annual
Net income before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$208.61K	USD	Annual
Net income before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$261.08K	USD	Annual
Income tax (expense) benefit	`IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems`	$220.80K	USD	Annual
Income tax (expense) benefit	`IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems`	$-21.80K	USD	Annual
Net income	`NetIncomeLoss`	$429.41K	USD	Annual
Net income	`NetIncomeLoss`	$239.28K	USD	Annual
Income per share - basic	`EarningsPerShareBasic`	$0.14	USD	Annual
Income per share - basic	`EarningsPerShareBasic`	$0.25	USD	Annual
Income per share - diluted	`EarningsPerShareDiluted`	$0.24	USD	Annual
Income per share - diluted	`EarningsPerShareDiluted`	$0.14	USD	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.76M	shares	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.74M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.76M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.77M	shares	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$429.41K	USD	Annual
Net income	`NetIncomeLoss`	$239.28K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$51.45K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$121.95K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$54.70K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$39.17K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-220.80K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$21.80K	USD	Annual
Impairment charges	`AssetImpairmentCharges`	$4.00K	USD	Annual
Impairment charges	`AssetImpairmentCharges`	-	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	-	USD	Annual
Non-cash interest expense	`OtherNoncashExpense`	$34.18K	USD	Annual
Stock-based expenses	`ShareBasedCompensation`	$101.14K	USD	Annual
Stock-based expenses	`ShareBasedCompensation`	$116.25K	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-307.80K	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-74.71K	USD	Annual
Decrease (increase) in deferred project costs and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-6.71K	USD	Annual
Decrease (increase) in deferred project costs and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-101.12K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$13.86K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$38.00K	USD	Annual
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$51.38K	USD	Annual
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$126.33K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$8.84K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$183.88K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$478.16K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$446.30K	USD	Annual
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$40.00K	USD	Annual
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	Annual
Purchase of furniture, equipment, and improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.94K	USD	Annual
Purchase of furniture, equipment, and improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$48.13K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-48.13K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-83.94K	USD	Annual
Repurchase of common and preferred stock	`PaymentsForRepurchaseOfCommonStock`	$-39.50K	USD	Annual
Repurchase of common and preferred stock	`PaymentsForRepurchaseOfCommonStock`	$-36.55K	USD	Annual
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-36.55K	USD	Annual
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-39.50K	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$357.67K	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$358.67K	USD	Annual
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$862.39K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$146.04K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$862.39K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$146.04K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$518.00	USD	Annual
Cash paid for interest	`InterestPaid`	$28.00	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual
Related party notes payable and accrued interest converted to common shares	`StockIssued1`	$59.67K	USD	Annual
Related party notes payable and accrued interest converted to common shares	`StockIssued1`	-	USD	Annual
Related party notes payable and accrued interest converted to preferred shares	`RelatedPartyNotesPayableAndAccruedInterestConvertedToPreferredShares`	$27.78K	USD	Annual
Related party notes payable and accrued interest converted to preferred shares	`RelatedPartyNotesPayableAndAccruedInterestConvertedToPreferredShares`	-	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$279.95K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$907.73K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$1.21M	USD	Point-in-time
Conversion of notes payable for common stock, Amount	`ConversionOfNotesPayableForCommonStockAmount`	$59.67K	USD	Annual
Conversion of note payable for preferred stock, Amount	`ConversionOfNotePayableForPreferredStockAmount`	$27.78K	USD	Annual
Non-cash interest expense on notes payable	`NoncashInterestExpenseOnNotesPayable`	$34.18K	USD	Annual
Repurchase and retirement of treasury shares, Amount	`RepurchaseAndRetirementOfTreasurySharesAmount`	$-36.55K	USD	Annual
Repurchase and retirement of treasury shares, Amount	`RepurchaseAndRetirementOfTreasurySharesAmount`	$-39.50K	USD	Annual
Issuance of common stock for services, Amount	`IssuanceOfCommonStockForServicesAmount`	$84.00K	USD	Annual
Stock-based compensation expense	`StockbasedCompensationExpense`	$32.24K	USD	Annual
Stock-based compensation expense	`StockbasedCompensationExpense`	$101.14K	USD	Annual
Net loss	`NetIncomeLoss`	$429.41K	USD	Annual
Net loss	`NetIncomeLoss`	$239.28K	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$279.95K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$907.73K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$1.21M	USD	Point-in-time

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