10-K Filing

ACCESS Newswire Inc. CIK: 843006 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001354488-13-000935`
Period End Date	20121231
Filing Date	20130228
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	isdr-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 36 Cash Flow Statement 56 Stockholders Equity 14

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$56.02K	USD	Point-in-time
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$125.99K	USD	Point-in-time
Allowance for Accounts Receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$117.03K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$862.39K	USD	Point-in-time
Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$79.17K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$187.67K	USD	Point-in-time
Accounts receivable, (net of allowance for doubtful accounts of $117,030 and $125,987, respectively)	`AccountsReceivableNet`	$544.68K	USD	Point-in-time
Accounts receivable, (net of allowance for doubtful accounts of $117,030 and $125,987, respectively)	`AccountsReceivableNet`	$361.19K	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`	$0.00	USD	Point-in-time
Preferred Stock shares par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred income tax asset - current	`DeferredTaxAssetsNetCurrent`	$135.00K	USD	Point-in-time
Preferred Stock shares Authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Deferred income tax asset - current	`DeferredTaxAssetsNetCurrent`	$49.00K	USD	Point-in-time
Preferred Stock shares Authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$38.71K	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
Other current assets	`OtherAssetsCurrent`	$35.09K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.47M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.88M	USD	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
Furniture, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$55.61K	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
Furniture, equipment and improvements, net	`PropertyPlantAndEquipmentNet`	$66.61K	USD	Point-in-time
Common Stock shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	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
Deferred income tax - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$159.00K	USD	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	1.94M	shares	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	1.75M	shares	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$22.07K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$12.07K	USD	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	1.75M	shares	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	1.94M	shares	Point-in-time
Intangible assets (net of accumulated amortization of $187,666 and $79,166, respectively)	`IntangibleAssetsNetIncludingGoodwill`	$431.53K	USD	Point-in-time
Intangible assets (net of accumulated amortization of $187,666 and $79,166, respectively)	`IntangibleAssetsNetIncludingGoodwill`	$109.03K	USD	Point-in-time
Total assets	`Assets`	$1.73M	USD	Point-in-time
Total assets	`Assets`	$2.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$103.57K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$62.89K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$39.32K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$37.35K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$226.41K	USD	Point-in-time
Accrued litigation	`AccruedLitigation`	-	USD	Point-in-time
Accrued litigation	`AccruedLitigation`	$130.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$177.71K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$112.91K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$150.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$589.54K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$450.60K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$69.29K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$105.55K	USD	Point-in-time
Total liabilities	`Liabilities`	$695.10K	USD	Point-in-time
Total liabilities	`Liabilities`	$519.88K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 30,000,000 shares authorized, no shares issued and outstanding as of December 31, 2012 and 2011	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 30,000,000 shares authorized, no shares issued and outstanding as of December 31, 2012 and 2011	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.001 par value, 100,000,000 shares authorized, 1,937,329 and 1,752,175 shares issued and outstanding as of December 31, 2012 and 2011, respectively	`CommonStockValue`	$1.94K	USD	Point-in-time
Common stock $0.001 par value, 100,000,000 shares authorized, 1,937,329 and 1,752,175 shares issued and outstanding as of December 31, 2012 and 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`	$2.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-531.89K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-226.16K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.85M	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`	$2.54M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.23M	USD	Annual
Revenues	`Revenues`	$4.31M	USD	Annual
Cost of services	`CostOfServices`	$1.50M	USD	Annual
Cost of services	`CostOfServices`	$1.39M	USD	Annual
Gross profit	`GrossProfit`	$1.84M	USD	Annual
Gross profit	`GrossProfit`	$2.80M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$965.16K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.31M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$361.64K	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$799.76K	USD	Annual
Litigation	`Litigation`	-	USD	Annual
Litigation	`Litigation`	$206.26K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$138.35K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$54.70K	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$1.59M	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$2.25M	USD	Annual
Operating income	`OperatingIncomeLoss`	$557.13K	USD	Annual
Operating income	`OperatingIncomeLoss`	$248.37K	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$-401.00	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$12.71K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$12.71K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-401.00	USD	Annual
Net income before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$261.08K	USD	Annual
Net income before taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$556.73K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$251.00K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$21.80K	USD	Annual
Net income	`NetIncomeLoss`	$305.73K	USD	Annual
Net income	`NetIncomeLoss`	$239.28K	USD	Annual
Income per share - basic	`EarningsPerShareBasic`	$0.16	USD	Annual
Income per share - basic	`EarningsPerShareBasic`	$0.14	USD	Annual
Income per share - diluted	`EarningsPerShareDiluted`	$0.15	USD	Annual
Income per share - diluted	`EarningsPerShareDiluted`	$0.14	USD	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.90M	shares	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	1.76M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.77M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.98M	shares	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$305.73K	USD	Annual
Net income	`NetIncomeLoss`	$239.28K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$65.33K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$121.95K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$54.70K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$138.35K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-9.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$21.80K	USD	Annual
Excess tax benefit from share based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	Annual
Excess tax benefit from share based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$11.00K	USD	Annual
Stock-based expense	`ShareBasedCompensation`	$101.14K	USD	Annual
Stock-based expense	`ShareBasedCompensation`	$415.88K	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$248.82K	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$307.80K	USD	Annual
Decrease (increase) in deferred project costs and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$101.12K	USD	Annual
Decrease (increase) in deferred project costs and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-72.49K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$38.00K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-40.68K	USD	Annual
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-64.80K	USD	Annual
Increase (decrease) in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$126.33K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$183.88K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$130.70K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$754.17K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$478.16K	USD	Annual
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$281.00K	USD	Annual
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$40.00K	USD	Annual
Purchase of furniture, equipment, and improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.85K	USD	Annual
Purchase of furniture, equipment, and improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.94K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-83.94K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-299.85K	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$36.55K	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Proceeds from exercise of stock options, net of taxes	`ProceedsFromStockOptionsExercised`	$43.52K	USD	Annual
Proceeds from exercise of stock options, net of taxes	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Payment of dividend	`PaymentsOfDividends`	$270.59K	USD	Annual
Payment of dividend	`PaymentsOfDividends`	-	USD	Annual
Excess tax benefit from share based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	Annual
Excess tax benefit from share based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$11.00K	USD	Annual
Advance from line of credit	`ProceedsFromLinesOfCredit`	-	USD	Annual
Advance from line of credit	`ProceedsFromLinesOfCredit`	$275.00K	USD	Annual
Repayment on line of credit	`RepaymentsOfLinesOfCredit`	-	USD	Annual
Repayment on line of credit	`RepaymentsOfLinesOfCredit`	$125.00K	USD	Annual
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-36.55K	USD	Annual
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-66.06K	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$388.26K	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$357.67K	USD	Annual
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$862.39K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$504.71K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$862.39K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$12.03K	USD	Annual
Cash paid for interest	`InterestPaid`	$28.00	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$22.59K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$1.85M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$907.73K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$1.21M	USD	Point-in-time
Repurchase and retirement of treasury shares, Amount	`StockRepurchasedAndRetiredDuringPeriodValue`	$-36.55K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$101.14K	USD	Annual
Issuance of shares for acquisition of customer list from SEC Compliance Services, Inc. ("SECCS"), amount	`StockIssuedDuringPeriodValueAcquisitions`	$140.00K	USD	Annual
Stock-based compensation expense, amount	`StockIssuedDuringPeriodValueShareBasedCompensation`	$415.88K	USD	Annual
Exercise of stock options, net of tax, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$43.52K	USD	Annual
Dividends	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$-270.59K	USD	Annual
Net income	`NetIncomeLoss`	$305.73K	USD	Annual
Net income	`NetIncomeLoss`	$239.28K	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$1.85M	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.