10-K Filing

BIOMERICA INC CIK: 73290 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001513162-12-000654`
Period End Date	20120531
Filing Date	20120829
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	bmra-20120531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 42 Cash Flow Statement 57 Stockholders Equity 14

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivable`	$32.20K	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivable`	$113.19K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$989.27K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Preferred Stock, Par Value Per Share (in Dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred Stock, Par Value Per Share (in Dollars per share)	`PreferredStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.20M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$747.08K	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.79M	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
Inventories, net	`InventoryNet`	$1.82M	USD	Point-in-time
Deferred tax assets, current portion	`DeferredTaxAssetsNetCurrent`	$177.00K	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
Deferred tax assets, current portion	`DeferredTaxAssetsNetCurrent`	$127.00K	USD	Point-in-time
Common Stock, Par Value Per Share (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.08	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$210.70K	USD	Point-in-time
Common Stock, Par Value Per Share (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.08	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$237.56K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.89M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.49M	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	6.87M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	6.95M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	6.95M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	6.87M	shares	Point-in-time
Equipment	`EquipmentGross`	$1.19M	USD	Point-in-time
Equipment	`EquipmentGross`	$1.07M	USD	Point-in-time
Furniture, fixtures and leasehold improvements	`FurnitureFixturesAndLeaseholdImprovementsGross`	$244.41K	USD	Point-in-time
Furniture, fixtures and leasehold improvements	`FurnitureFixturesAndLeaseholdImprovementsGross`	$214.35K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$1.28M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$1.43M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$844.68K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$712.17K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$567.32K	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$584.82K	USD	Point-in-time
DEFERRED TAX ASSETS, net of current portion	`DeferredTaxAssetsNetNoncurrent`	$61.00K	USD	Point-in-time
DEFERRED TAX ASSETS, net of current portion	`DeferredTaxAssetsNetNoncurrent`	$111.00K	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$194.58K	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$177.41K	USD	Point-in-time
INVESTMENTS	`Investments`	$165.32K	USD	Point-in-time
INVESTMENTS	`Investments`	$165.32K	USD	Point-in-time
OTHER ASSETS	`OtherAssets`	$47.89K	USD	Point-in-time
OTHER ASSETS	`OtherAssets`	$78.56K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.57M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.96M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$362.45K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$451.57K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$186.84K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$138.06K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$43.00K	USD	Point-in-time
Loan for equipment purchase	`LoansPayableToBankCurrent`	$35.39K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$592.29K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$625.01K	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$556.19K	USD	Point-in-time
Common stock	`CommonStockValue`	$549.47K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$17.64M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$17.74M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.46K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.03K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.31M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.33M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.06M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.98M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$4.96M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$5.57M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$6.08M	USD	Annual
Net sales	`SalesRevenueNet`	$4.90M	USD	Annual
Cost of sales	`CostOfRevenue`	$3.37M	USD	Annual
Cost of sales	`CostOfRevenue`	$3.78M	USD	Annual
GROSS PROFIT	`GrossProfit`	$1.53M	USD	Annual
GROSS PROFIT	`GrossProfit`	$2.30M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.24M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.45M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$347.13K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$420.57K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.79M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.66M	USD	Annual
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-132.26K	USD	Annual
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$505.00K	USD	Annual
Interest expense	`InterestExpense`	$1.58K	USD	Annual
Interest expense	`InterestExpense`	$5.83K	USD	Annual
Interest and dividend income	`OtherInterestAndDividendIncome`	$8.35K	USD	Annual
Interest and dividend income	`OtherInterestAndDividendIncome`	$7.37K	USD	Annual
Other income	`OtherIncome`	$290.17K	USD	Annual
Other income	`OtherIncome`	$101.69K	USD	Annual
Total other income	`OtherNonoperatingIncomeExpense`	$108.45K	USD	Annual
Total other income	`OtherNonoperatingIncomeExpense`	$291.71K	USD	Annual
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$159.45K	USD	Annual
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$613.45K	USD	Annual
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$2.00K	USD	Annual
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$65.01K	USD	Annual
NET INCOME	`NetIncomeLoss`	$548.43K	USD	Annual
NET INCOME	`NetIncomeLoss`	$157.45K	USD	Annual
BASIC NET INCOME PER COMMON SHARE (in Dollars per share)	`EarningsPerShareBasic`	$0.08	USD	Annual
BASIC NET INCOME PER COMMON SHARE (in Dollars per share)	`EarningsPerShareBasic`	$0.02	USD	Annual
DILUTED NET INCOME PER COMMON SHARE (in Dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	Annual
DILUTED NET INCOME PER COMMON SHARE (in Dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesIssuedBasic`	6.89M	shares	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesIssuedBasic`	6.67M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.70M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.11M	shares	Annual
NET INCOME	`ProfitLoss`	$157.45K	USD	Annual
NET INCOME	`ProfitLoss`	$548.43K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-1.57K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-947.00	USD	Annual
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$546.87K	USD	Annual
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$156.50K	USD	Annual

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$548.43K	USD	Annual
Net income	`NetIncomeLoss`	$157.45K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$147.81K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$180.12K	USD	Annual
Change in provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$9.00K	USD	Annual
Change in provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$80.99K	USD	Annual
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$-7.84K	USD	Annual
Inventory reserve	`InventoryLIFOReservePeriodCharge`	$1.23K	USD	Annual
(Gain) loss on disposal of property and equipment	`GainsLossesOnSalesOfAssets`	$5.94K	USD	Annual
(Gain) loss on disposal of property and equipment	`GainsLossesOnSalesOfAssets`	$-101.63K	USD	Annual
Stock option expense	`StockOptionPlanExpense`	$53.62K	USD	Annual
Stock option expense	`StockOptionPlanExpense`	$27.97K	USD	Annual
Write off of license-related intangible asset	`ImpairmentOfIntangibleAssetsExcludingGoodwill`	$13.98K	USD	Annual
Increase in deferred rent liability	`IncreaseInDeferredRentLiability`	$8.24K	USD	Annual
Increase in deferred rent liability	`IncreaseInDeferredRentLiability`	$1.34K	USD	Annual
Gain on settlement of vacation accrual	`GainOnSettlementOfVacationAccrual`	$-80.61K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-534.43K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$261.77K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$3.81K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-27.71K	USD	Annual
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$26.86K	USD	Annual
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-49.86K	USD	Annual
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-30.67K	USD	Annual
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$31.89K	USD	Annual
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-121.76K	USD	Annual
Accounts payable and other accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-90.46K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-88.06K	USD	Annual
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$48.78K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$147.41K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$328.80K	USD	Annual
Investment in distributor	`PaymentsToAcquireInvestments`	$165.32K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$164.80K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$141.08K	USD	Annual
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$125.28K	USD	Annual
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$50.00K	USD	Annual
Proceeds from insurance claim	`ProceedsFromInsuranceSettlementInvestingActivities`	$101.63K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-431.68K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-113.17K	USD	Annual
Net borrowings on line of credit	`ProceedsFromLinesOfCredit`	$43.00K	USD	Annual
Proceeds from exercise of stock options and warrants	`ProceedsFromStockOptionsAndWarrantsExercised`	$47.79K	USD	Annual
Proceeds from exercise of stock options and warrants	`ProceedsFromStockOptionsAndWarrantsExercised`	$83.00K	USD	Annual
Payments on loan for equipment purchase	`RepaymentsOfBankDebt`	$45.11K	USD	Annual
Payments on loan for equipment purchase	`RepaymentsOfBankDebt`	$35.39K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$37.89K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$55.40K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.57K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-947.00	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$88.07K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-65.94K	USD	Annual
CASH AND CASH EQUIVALENTS, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$989.27K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of year	`CashAndCashEquivalentsAtCarryingValue`	$989.27K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	USD	Point-in-time
Cash paid during year for Interest	`InterestPaid`	$5.64K	USD	Annual
Cash paid during year for Interest	`InterestPaid`	$1.58K	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balances,	`StockholdersEquity`	$4.33M	USD	Point-in-time
Balances,	`StockholdersEquity`	$4.06M	USD	Point-in-time
Balances,	`StockholdersEquity`	$4.98M	USD	Point-in-time
Exercise of stock options and warrants	`StockIssuedDuringPeriodValueStockOptionsAndWarrantsExercisedNetOfTaxBenefitExpense`	$47.79K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$83.00K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-947.00	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-1.57K	USD	Annual
Compensation expense in connection with options granted	`StockIssuedDuringPeriodValueShareBasedCompensation`	$53.62K	USD	Annual
Compensation expense in connection with options granted	`StockIssuedDuringPeriodValueShareBasedCompensation`	$27.97K	USD	Annual
Net income	`NetIncomeLoss`	$548.43K	USD	Annual
Net income	`NetIncomeLoss`	$157.45K	USD	Annual
Balances,	`StockholdersEquity`	$4.33M	USD	Point-in-time
Balances,	`StockholdersEquity`	$4.06M	USD	Point-in-time
Balances,	`StockholdersEquity`	$4.98M	USD	Point-in-time

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