10-Q Filing

TRUCEPT, INC. CIK: 947011 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001062993-12-001878`
Period End Date	20120331
Filing Date	20120521
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	sttk-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 26 Cash Flow Statement 46

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$781.72	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$132.49K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$728.58K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.75M	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.63M	USD	Point-in-time
Common Stock, Par Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Due from related parties	`OtherReceivablesNetCurrent`	$2.74M	USD	Point-in-time
Common Stock, Par Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Due from related parties	`OtherReceivablesNetCurrent`	$2.57M	USD	Point-in-time
Prepaid expenses and deposits	`PrepaidExpenseCurrent`	$8.59K	USD	Point-in-time
Prepaid expenses and deposits	`PrepaidExpenseCurrent`	$52.15K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.33M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.55M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	49.21M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	49.21M	shares	Point-in-time
Equipment, net of accumulated depreciation	`MachineryAndEquipmentGross`	$49.43K	USD	Point-in-time
Equipment, net of accumulated depreciation	`MachineryAndEquipmentGross`	$55.01K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	49.21M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	49.21M	shares	Point-in-time
Prepaid workers compensation	`PrepaidExpenseOtherNoncurrent`	$3.44M	USD	Point-in-time
Prepaid workers compensation	`PrepaidExpenseOtherNoncurrent`	$3.58M	USD	Point-in-time
Goodwill	`Goodwill`	$476.36K	USD	Point-in-time
Goodwill	`Goodwill`	$476.36K	USD	Point-in-time
Total Assets	`Assets`	$8.43M	USD	Point-in-time
Total Assets	`Assets`	$8.52M	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	-	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$93.83K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.55M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.27M	USD	Point-in-time
Accrued payroll taxes	`AccruedPayrollTaxesCurrent`	$11.96M	USD	Point-in-time
Accrued payroll taxes	`AccruedPayrollTaxesCurrent`	$13.36M	USD	Point-in-time
Accrued workers compensation	`WorkersCompensationLiabilityCurrent`	$835.59K	USD	Point-in-time
Accrued workers compensation	`WorkersCompensationLiabilityCurrent`	$1.06M	USD	Point-in-time
Payable to related parties	`AccountsPayableRelatedPartiesCurrent`	$687.22K	USD	Point-in-time
Payable to related parties	`AccountsPayableRelatedPartiesCurrent`	$609.02K	USD	Point-in-time
Note payable to related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$500.00K	USD	Point-in-time
Note payable to related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$500.00K	USD	Point-in-time
Total current liability	`LiabilitiesCurrent`	$17.02M	USD	Point-in-time
Total current liability	`LiabilitiesCurrent`	$15.39M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$35.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$17.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.43M	USD	Point-in-time
Preferred stock: $0.001 par value, 5,000,000 shares authorized, zero shares of Class A preferred issued and outstanding at March 31, 2012 and December 31,2011	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: $0.001 par value, 5,000,000 shares authorized, zero shares of Class A preferred issued and outstanding at March 31, 2012 and December 31,2011	`PreferredStockValue`	-	USD	Point-in-time
Common stock: $0.001 par value, 500,000,000 shares authorized, 49,212,123 issued and outstanding at March 31, 2012 and December 31, 2011	`CommonStockValue`	$49.21K	USD	Point-in-time
Common stock: $0.001 par value, 500,000,000 shares authorized, 49,212,123 issued and outstanding at March 31, 2012 and December 31, 2011	`CommonStockValue`	$49.21K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$7.27M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$7.27M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.91M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-6.90M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-8.59M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$8.43M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$8.52M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenue (gross billings of $25,763 and $15,661 million, less worksite employee payroll cost of $19,282 million and $11,439 million respectively)	`Revenues`	$4.22M	USD	1 Quarter
Revenue (gross billings of $25,763 and $15,661 million, less worksite employee payroll cost of $19,282 million and $11,439 million respectively)	`Revenues`	$6.48M	USD	1 Quarter
Gross billings	`GrossBillings`	$25.76M	USD	1 Quarter
Gross billings	`GrossBillings`	$15.66M	USD	5 Qtrs
Employee payroll costs	`EmployeePayrollCosts`	$11.44M	USD	5 Qtrs
Employee payroll costs	`EmployeePayrollCosts`	$19.28M	USD	1 Quarter
Cost of revenue and service delivery	`CostOfRevenue`	$2.95M	USD	1 Quarter
Cost of revenue and service delivery	`CostOfRevenue`	$5.55M	USD	1 Quarter
Gross profit	`GrossProfit`	$932.51K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.27M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$898.83K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.55M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-1.62M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$373.68K	USD	1 Quarter
Interest and Tax Penalties	`InterestAndTaxPenalties`	$64.84K	USD	1 Quarter
Interest and Tax Penalties	`InterestAndTaxPenalties`	$10.33K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-10.33K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-64.84K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$363.35K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.69M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-1.69M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$363.35K	USD	1 Quarter
Earnings per share of common stock, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Earnings per share of common stock, basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Weighted average shares of common stock outstanding, basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.31M	shares	1 Quarter
Weighted average shares of common stock outstanding, basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.21M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$363.35K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.70K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.58K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$119.55K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.09M	USD	1 Quarter
Due from related party	`IncreaseDecreaseInDueFromRelatedParties`	$1.04M	USD	1 Quarter
Due from related party	`IncreaseDecreaseInDueFromRelatedParties`	$-167.25K	USD	1 Quarter
Proceeds from related party	`ProceedsFromRelatedPartyDebt`	$78.20K	USD	1 Quarter
Proceeds from related party	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Prepaid expenses and deposits	`IncreaseDecreaseInPrepaidExpense`	$-43.56K	USD	1 Quarter
Prepaid expenses and deposits	`IncreaseDecreaseInPrepaidExpense`	$-170.99K	USD	1 Quarter
Prepaid worker compensation expense	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Prepaid worker compensation expense	`IncreaseDecreaseInOtherNoncurrentAssets`	$140.00K	USD	1 Quarter
Bank overdraft	`IncreaseDecreaseIncreaseDecreaseInBankOverdraft`	-	USD	1 Quarter
Bank overdraft	`IncreaseDecreaseIncreaseDecreaseInBankOverdraft`	$93.83K	USD	1 Quarter
Accrued workers compensation expense	`IncreaseDecreaseInWorkersCompensationLiabilities`	$-220.39K	USD	1 Quarter
Accrued workers compensation expense	`IncreaseDecreaseInWorkersCompensationLiabilities`	-	USD	1 Quarter
Payroll taxes payable	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.40M	USD	1 Quarter
Payroll taxes payable	`IncreaseDecreaseInEmployeeRelatedLiabilities`	-	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$280.74K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-596.56K	USD	1 Quarter
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-14.26K	USD	1 Quarter
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-97.49K	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquireMachineryAndEquipment`	-	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquireMachineryAndEquipment`	$38.88K	USD	1 Quarter
Payment of long-term payable	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Payment of long-term payable	`RepaymentsOfLongTermDebt`	$35.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-35.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-38.88K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net increase (decrease) in cash from continuing operations	`NetCashProvidedByUsedInContinuingOperations`	$-132.49K	USD	1 Quarter
Net increase (decrease) in cash from continuing operations	`NetCashProvidedByUsedInContinuingOperations`	$-53.14K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$781.72	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$132.49K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$728.58K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$781.72	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$132.49K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$728.58K	USD	Point-in-time
Interest paid	`InterestPaid`	$64.85K	USD	1 Quarter
Interest paid	`InterestPaid`	$10.33K	USD	1 Quarter
Income taxes payable	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes payable	`IncomeTaxesPaid`	-	USD	1 Quarter

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