10-Q Filing

ACCESS Newswire Inc. CIK: 843006 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001354488-12-002103`
Period End Date	20120331
Filing Date	20120502
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	isdr-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 28 Cash Flow Statement 48

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$134.19K	USD	Point-in-time
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$125.99K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$501.89K	USD	Point-in-time
Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$107.25K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$752.02K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$79.17K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$862.39K	USD	Point-in-time
Accounts receivable, (net of allowance for doubtful accounts of $134,189 and $125,987, respectively)	`AccountsReceivableNet`	$361.19K	USD	Point-in-time
Accounts receivable, (net of allowance for doubtful accounts of $134,189 and $125,987, respectively)	`AccountsReceivableNet`	$402.95K	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
Deferred project costs	`DeferredProjectCosts`	$49.12K	USD	Point-in-time
Preferred Stock shares par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Deferred income tax asset - current	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$135.00K	USD	Point-in-time
Deferred income tax asset - current	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$172.50K	USD	Point-in-time
Preferred Stock shares Authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred Stock shares Authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$25.80K	USD	Point-in-time
Preferred Stock shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$35.09K	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
Preferred Stock shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.47M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.40M	USD	Point-in-time
Common Stock shares par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Furniture, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$66.61K	USD	Point-in-time
Common Stock shares par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Furniture, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$60.84K	USD	Point-in-time
Deferred income tax - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$64.00K	USD	Point-in-time
Deferred income tax - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$64.00K	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
Intangible assets (net of accumulated amortization of $107,250 and $79,166, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$109.03K	USD	Point-in-time
Intangible assets (net of accumulated amortization of $107,250 and $79,166, respectively)	`IntangibleAssetsNetExcludingGoodwill`	$505.95K	USD	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	1.75M	shares	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	1.82M	shares	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	1.82M	shares	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$12.07K	USD	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	1.75M	shares	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$22.07K	USD	Point-in-time
Total assets	`Assets`	$1.73M	USD	Point-in-time
Total assets	`Assets`	$2.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$106.41K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$103.57K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$39.32K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$59.27K	USD	Point-in-time
Accrued litigation	`AccruedLitigation`	$130.00K	USD	Point-in-time
Accrued litigation	`AccruedLitigation`	-	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$177.71K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$146.73K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$275.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$587.41K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$450.60K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$81.26K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$69.29K	USD	Point-in-time
Total liabilities	`Liabilities`	$668.67K	USD	Point-in-time
Total liabilities	`Liabilities`	$519.88K	USD	Point-in-time
Preferred stock, $1.00 par value, 30,000,000 shares authorized, no shares issued and outstanding as of March 31, 2012 and December 31, 2011	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $1.00 par value, 30,000,000 shares authorized, no shares issued and outstanding as of March 31, 2012 and December 31, 2011	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 100,000,000 shares authorized, 1,822,175 and 1,752,175 shares issued and outstanding as of March 31, 2012 and December 31, 2011, respectively.	`CommonStockValue`	$1.82K	USD	Point-in-time
Common stock $0.001 par value, 100,000,000 shares authorized, 1,822,175 and 1,752,175 shares issued and outstanding as of March 31, 2012 and December 31, 2011, respectively.	`CommonStockValue`	$1.75K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.74M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.96M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-588.83K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-531.89K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.38M	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`	$2.05M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$796.59K	USD	1 Quarter
Revenues	`Revenues`	$513.56K	USD	1 Quarter
Cost of services	`CostOfServices`	$356.69K	USD	1 Quarter
Cost of services	`CostOfServices`	$232.10K	USD	1 Quarter
Gross profit	`GrossProfit`	$281.46K	USD	1 Quarter
Gross profit	`GrossProfit`	$439.90K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$289.30K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$233.74K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$212.54K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$64.55K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$36.07K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.82K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$310.10K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$537.91K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-98.01K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-28.64K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$2.86K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$3.57K	USD	1 Quarter
Net loss before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-94.44K	USD	1 Quarter
Net loss before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-25.78K	USD	1 Quarter
Income tax benefit	`CurrentIncomeTaxExpenseBenefit`	$-37.50K	USD	1 Quarter
Income tax benefit	`CurrentIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-25.78K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-56.94K	USD	1 Quarter
Loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Loss per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfCommonSharesOutstandingBasicAndFullyDiluted`	1.82M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfCommonSharesOutstandingBasicAndFullyDiluted`	1.77M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-25.78K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-56.94K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$36.07K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.82K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$8.20K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$21.18K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-37.50K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Stock-based expense	`ShareBasedCompensation`	$81.91K	USD	1 Quarter
Stock-based expense	`ShareBasedCompensation`	$19.35K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$68.50K	USD	1 Quarter
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$49.96K	USD	1 Quarter
Decrease (increase) in deposits and prepaids	`IncreaseDecreaseInOtherOperatingAssets`	$4.46K	USD	1 Quarter
Decrease (increase) in deposits and prepaids	`IncreaseDecreaseInOtherOperatingAssets`	$-36.28K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.85K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$23.80K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$11.76K	USD	1 Quarter
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-98.09K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-30.98K	USD	1 Quarter
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$37.22K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$26.39K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-108.15K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.21K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.22K	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$275.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-29.21K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-277.22K	USD	1 Quarter
Advance from line of credit	`ProceedsFromLinesOfCredit`	$275.00K	USD	1 Quarter
Advance from line of credit	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$275.00K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-110.37K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.82K	USD	1 Quarter
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$501.89K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$752.02K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$862.39K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$501.89K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$752.02K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$862.39K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$2.59K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Common stock issued for acquisition of customer list	`CommonStockIssuedForAcquisitionOfCustomerList`	$140.00K	USD	1 Quarter
Common stock issued for acquisition of customer list	`CommonStockIssuedForAcquisitionOfCustomerList`	-	USD	1 Quarter

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