10-Q Filing

EROOMSYSTEM TECHNOLOGIES INC CIK: 1110361 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001437749-15-014332`
Period End Date	20150630
Filing Date	20150730
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	erms-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 52 Cash Flow Statement 68 Comprehensive Income 4

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$6.55K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.10K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$15.41K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$19.88K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.38M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$61.35K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Investment in available for sale securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$24.45K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Investment in available for sale securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$57.60K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Notes receivable	`NotesAndLoansReceivableNetCurrent`	$1.08M	USD	Point-in-time
Notes receivable	`NotesAndLoansReceivableNetCurrent`	$702.50K	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $6,555 and $5,101	`AccountsReceivableNetCurrent`	$67.77K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $6,555 and $5,101	`AccountsReceivableNetCurrent`	$87.08K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Inventory	`InventoryNet`	$114.16K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Inventory	`InventoryNet`	$79.19K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	24.22M	shares	Point-in-time
Advance to hotels	`OtherReceivablesNetCurrent`	$74.37K	USD	Point-in-time
Advance to hotels	`OtherReceivablesNetCurrent`	$77.73K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	24.17M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$111.06K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$6.79K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.51M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.57M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $19,877 and $15,409	`PropertyPlantAndEquipmentNet`	$63.29K	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $19,877 and $15,409	`PropertyPlantAndEquipmentNet`	$56.97K	USD	Point-in-time
INVESTMENT IN REAL PROPERTY TAX LIENS	`OtherLongTermInvestments`	$26.39K	USD	Point-in-time
INVESTMENT IN REAL PROPERTY TAX LIENS	`OtherLongTermInvestments`	$22.69K	USD	Point-in-time
DEPOSITS	`DepositsAssetsNoncurrent`	$2.93K	USD	Point-in-time
DEPOSITS	`DepositsAssetsNoncurrent`	$2.93K	USD	Point-in-time
Total Assets	`Assets`	$2.60M	USD	Point-in-time
Total Assets	`Assets`	$2.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.74K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$22.78K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$42.51K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$88.00K	USD	Point-in-time
Securities borrowed	`SecuritiesBorrowedLiability`	-	USD	Point-in-time
Securities borrowed	`SecuritiesBorrowedLiability`	$60.96K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$171.74K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$56.24K	USD	Point-in-time
Total Liabilities	`Liabilities`	$171.74K	USD	Point-in-time
Total Liabilities	`Liabilities`	$56.24K	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized; none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000,000 shares authorized; none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; shares outstanding 24,217,865 and 24,167,865	`CommonStockValue`	$24.17K	USD	Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; shares outstanding 24,217,865 and 24,167,865	`CommonStockValue`	$24.22K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$34.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$34.21M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-31.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-31.69M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.72K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.08K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.54M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.49M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.60M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.66M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
REVENUE	`Revenues`	$414.29K	USD	2 Qtrs
REVENUE	`Revenues`	$379.58K	USD	2 Qtrs
REVENUE	`Revenues`	$214.50K	USD	1 Quarter
REVENUE	`Revenues`	$197.02K	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	$123.67K	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	$205.53K	USD	2 Qtrs
COST OF REVENUE	`CostOfRevenue`	$103.21K	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	$234.37K	USD	2 Qtrs
GROSS MARGIN	`GrossProfit`	$179.92K	USD	2 Qtrs
GROSS MARGIN	`GrossProfit`	$174.06K	USD	2 Qtrs
GROSS MARGIN	`GrossProfit`	$90.82K	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$93.81K	USD	1 Quarter
Selling, general and administrative expense, including non-cash compensation of $6,435, $5,000, $6,435 and $8,069	`SellingGeneralAndAdministrativeExpense`	$101.48K	USD	1 Quarter
Selling, general and administrative expense, including non-cash compensation of $6,435, $5,000, $6,435 and $8,069	`SellingGeneralAndAdministrativeExpense`	$195.27K	USD	2 Qtrs
Selling, general and administrative expense, including non-cash compensation of $6,435, $5,000, $6,435 and $8,069	`SellingGeneralAndAdministrativeExpense`	$225.96K	USD	2 Qtrs
Selling, general and administrative expense, including non-cash compensation of $6,435, $5,000, $6,435 and $8,069	`SellingGeneralAndAdministrativeExpense`	$146.27K	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$24.44K	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$22.57K	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$10.07K	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$12.07K	USD	1 Quarter
Net Operating Expenses	`OperatingExpenses`	$217.84K	USD	2 Qtrs
Net Operating Expenses	`OperatingExpenses`	$250.40K	USD	2 Qtrs
Net Operating Expenses	`OperatingExpenses`	$111.55K	USD	1 Quarter
Net Operating Expenses	`OperatingExpenses`	$158.35K	USD	1 Quarter
Investment Income	`InvestmentIncomeInterestAndDividend`	$52.70K	USD	1 Quarter
Investment Income	`InvestmentIncomeInterestAndDividend`	$155.97K	USD	1 Quarter
Investment Income	`InvestmentIncomeInterestAndDividend`	$170.31K	USD	2 Qtrs
Investment Income	`InvestmentIncomeInterestAndDividend`	$80.94K	USD	2 Qtrs
Net Income	`NetIncomeLoss`	$31.97K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$91.44K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$93.97K	USD	2 Qtrs
Net Income	`NetIncomeLoss`	$43.03K	USD	2 Qtrs
Unrealized holding gain (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$364.00	USD	2 Qtrs
Unrealized holding gain (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-114.00	USD	1 Quarter
Unrealized holding gain (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$15.96K	USD	2 Qtrs
Unrealized holding gain (loss)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$15.73K	USD	1 Quarter
Reclassification to realized gain (included in net income)	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	-	USD	1 Quarter
Reclassification to realized gain (included in net income)	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	-	USD	2 Qtrs
Reclassification to realized gain (included in net income)	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	$14.86K	USD	2 Qtrs
Reclassification to realized gain (included in net income)	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	$14.86K	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$43.39K	USD	2 Qtrs
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$92.31K	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$31.86K	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$95.07K	USD	2 Qtrs
Basic Income Per Common Share (in dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic Income Per Common Share (in dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic Income Per Common Share (in dollars per share)	`EarningsPerShareBasic`	-	USD	2 Qtrs
Basic Income Per Common Share (in dollars per share)	`EarningsPerShareBasic`	-	USD	2 Qtrs
Diluted Income Per Common Share (in dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted Income Per Common Share (in dollars per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Diluted Income Per Common Share (in dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted Income Per Common Share (in dollars per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$31.97K	USD	1 Quarter
Net income	`NetIncomeLoss`	$91.44K	USD	1 Quarter
Net income	`NetIncomeLoss`	$93.97K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$43.03K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.32K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.84K	USD	2 Qtrs
Accrued interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$5.09K	USD	2 Qtrs
Accrued interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$3.67K	USD	2 Qtrs
Gain on sale of marketable securities	`GainLossOnSaleOfSecuritiesNet`	$14.86K	USD	2 Qtrs
Gain on sale of marketable securities	`GainLossOnSaleOfSecuritiesNet`	$35.90K	USD	2 Qtrs
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$850.00	USD	2 Qtrs
Loss on writedown of equipment	`AssetImpairmentCharges`	-	USD	2 Qtrs
Loss on writedown of equipment	`AssetImpairmentCharges`	$33.65K	USD	2 Qtrs
Loss on writedown of note receivable	`AllowanceForLoanAndLeaseLossesWriteOffs`	$22.50K	USD	2 Qtrs
Loss on writedown of note receivable	`AllowanceForLoanAndLeaseLossesWriteOffs`	-	USD	2 Qtrs
Non-cash compensation expense	`ShareBasedCompensation`	$6.43K	USD	2 Qtrs
Non-cash compensation expense	`ShareBasedCompensation`	$8.07K	USD	2 Qtrs
Non-cash compensation expense	`ShareBasedCompensation`	$6.43K	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$5.00K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-61.35K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-619.00	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$19.31K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$5.33K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$34.97K	USD	2 Qtrs
Advance to hotels	`IncreaseDecreaseInOtherReceivables`	$10.82K	USD	2 Qtrs
Advance to hotels	`IncreaseDecreaseInOtherReceivables`	$3.36K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-4.27K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$4.02K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.83K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.04K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-45.49K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-43.38K	USD	2 Qtrs
Borrowed shares	`IncreaseDecreaseInSecuritiesBorrowedLiability`	$-60.96K	USD	2 Qtrs
Borrowed shares	`IncreaseDecreaseInSecuritiesBorrowedLiability`	-	USD	2 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	-	USD	2 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-4.31K	USD	2 Qtrs
Net Cash Provided by (Used In) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$72.58K	USD	2 Qtrs
Net Cash Provided by (Used In) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-92.72K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.33K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchases of investments in real property tax liens	`PaymentsToAcquireInvestments`	$3.70K	USD	2 Qtrs
Purchases of investments in real property tax liens	`PaymentsToAcquireInvestments`	$9.27K	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$850.00	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	2 Qtrs
Advances made under notes receivable	`PaymentsToAcquireNotesReceivable`	$250.00K	USD	2 Qtrs
Advances made under notes receivable	`PaymentsToAcquireNotesReceivable`	$390.00K	USD	2 Qtrs
Proceeds from collection of note receivable	`ProceedsFromCollectionOfNotesReceivable`	-	USD	2 Qtrs
Proceeds from collection of note receivable	`ProceedsFromCollectionOfNotesReceivable`	$13.83K	USD	2 Qtrs
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$25.00K	USD	2 Qtrs
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$415.32K	USD	2 Qtrs
Proceeds from sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$39.86K	USD	2 Qtrs
Proceeds from sale of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$518.45K	USD	2 Qtrs
Proceeds from collection of note receivable, non-performing	`ProceedsFromSaleAndCollectionOfNotesReceivable`	-	USD	2 Qtrs
Proceeds from collection of note receivable, non-performing	`ProceedsFromSaleAndCollectionOfNotesReceivable`	$399.86K	USD	2 Qtrs
Net Cash Provided by (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-276.75K	USD	2 Qtrs
Net Cash Provided by (Used In) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$151.98K	USD	2 Qtrs
Net Increase (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$224.56K	USD	2 Qtrs
Net Increase (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-369.47K	USD	2 Qtrs
Cash and cash equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.45M	USD	Point-in-time
Cash and cash equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash and cash equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.38M	USD	Point-in-time
Cash and cash equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	USD	Point-in-time
Cash and cash equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.45M	USD	Point-in-time
Cash and cash equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash and cash equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.38M	USD	Point-in-time
Cash and cash equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Selling, general and administrative expense, non-cash compensation	`ShareBasedCompensation`	$6.43K	USD	2 Qtrs
Selling, general and administrative expense, non-cash compensation	`ShareBasedCompensation`	$8.07K	USD	2 Qtrs
Selling, general and administrative expense, non-cash compensation	`ShareBasedCompensation`	$6.43K	USD	1 Quarter
Selling, general and administrative expense, non-cash compensation	`ShareBasedCompensation`	$5.00K	USD	1 Quarter

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