10-Q/A Filing

TRUCEPT, INC. CIK: 947011 Q2 2012

Filing Information

Form Type	10-Q/A
Accession Number	`0001062993-12-003348`
Period End Date	20120630
Filing Date	20120830
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	sttk-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 56 Cash Flow Statement 50

Balance Sheet 68 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
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$882.07K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$132.49K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$781.72K	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.31M	USD	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`	$2.23M	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
Prepaid expenses and deposits	`PrepaidExpenseCurrent`	$5.35K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	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
Total current assets	`AssetsCurrent`	$3.54M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.55M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	49.21M	shares	Point-in-time
Equipment, net of accumulated depreciation	`MachineryAndEquipmentGross`	$43.85K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	49.21M	shares	Point-in-time
Equipment, net of accumulated depreciation	`MachineryAndEquipmentGross`	$55.01K	USD	Point-in-time
Prepaid workers compensation	`PrepaidExpenseOtherNoncurrent`	$3.44M	USD	Point-in-time
Prepaid workers compensation	`PrepaidExpenseOtherNoncurrent`	$4.53M	USD	Point-in-time
Goodwill	`Goodwill`	$476.36K	USD	Point-in-time
Goodwill	`Goodwill`	$476.36K	USD	Point-in-time
Total Assets	`Assets`	$8.59M	USD	Point-in-time
Total Assets	`Assets`	$8.52M	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	-	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$17.52K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$446.35K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$441.44K	USD	Point-in-time
Assigned receivables liability	`OtherLiabilitiesCurrent`	$801.04K	USD	Point-in-time
Assigned receivables liability	`OtherLiabilitiesCurrent`	$826.94K	USD	Point-in-time
Accrued payroll taxes	`AccruedPayrollTaxesCurrent`	$15.73M	USD	Point-in-time
Accrued payroll taxes	`AccruedPayrollTaxesCurrent`	$11.96M	USD	Point-in-time
Accrued workers compensation	`WorkersCompensationLiabilityCurrent`	$1.10M	USD	Point-in-time
Accrued workers compensation	`WorkersCompensationLiabilityCurrent`	$1.06M	USD	Point-in-time
Payable to related parties	`AccountsPayableRelatedPartiesCurrent`	$609.02K	USD	Point-in-time
Payable to related parties	`AccountsPayableRelatedPartiesCurrent`	$516.69K	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`	$15.39M	USD	Point-in-time
Total current liability	`LiabilitiesCurrent`	$19.10M	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`	$19.10M	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 June 30, 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 June 30, 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 June 30, 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 June 30, 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`	$-17.84M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.23M	USD	Point-in-time
Total stockholders' (deficit)	`StockholdersEquity`	$-6.90M	USD	Point-in-time
Total stockholders' (deficit)	`StockholdersEquity`	$-10.51M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$8.52M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$8.59M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenue: (For the three months ending June 30, 2012 and June 30, 2011 gross billings of $24,586 and $20,876 million, less worksite employee payroll cost of $18,452 and $14,475 million respectively) (For the six months ending June 30, 2012 and June 30, 2011 gross billings of $50,349 and $36,537 million, less worksite employee payroll cost of $37,734 million and $25,914 million respectively)	`Revenues`	$12.61M	USD	2 Qtrs
Gross Billings	`GrossTransactionVolume`	$36.54K	USD	2 Qtrs
Gross Billings	`GrossTransactionVolume`	$50.35K	USD	2 Qtrs
Gross Billings	`GrossTransactionVolume`	$20.88K	USD	1 Quarter
Revenue: (For the three months ending June 30, 2012 and June 30, 2011 gross billings of $24,586 and $20,876 million, less worksite employee payroll cost of $18,452 and $14,475 million respectively) (For the six months ending June 30, 2012 and June 30, 2011 gross billings of $50,349 and $36,537 million, less worksite employee payroll cost of $37,734 million and $25,914 million respectively)	`Revenues`	$6.13M	USD	1 Quarter
Revenue: (For the three months ending June 30, 2012 and June 30, 2011 gross billings of $24,586 and $20,876 million, less worksite employee payroll cost of $18,452 and $14,475 million respectively) (For the six months ending June 30, 2012 and June 30, 2011 gross billings of $50,349 and $36,537 million, less worksite employee payroll cost of $37,734 million and $25,914 million respectively)	`Revenues`	$6.40M	USD	1 Quarter
Gross Billings	`GrossTransactionVolume`	$24.59K	USD	1 Quarter
Revenue: (For the three months ending June 30, 2012 and June 30, 2011 gross billings of $24,586 and $20,876 million, less worksite employee payroll cost of $18,452 and $14,475 million respectively) (For the six months ending June 30, 2012 and June 30, 2011 gross billings of $50,349 and $36,537 million, less worksite employee payroll cost of $37,734 million and $25,914 million respectively)	`Revenues`	$10.62M	USD	2 Qtrs
Employee payroll costs	`EmployeePayrollCosts`	$37.73K	USD	2 Qtrs
Cost of revenue and service delivery	`CostOfRevenue`	$7.67M	USD	2 Qtrs
Employee payroll costs	`EmployeePayrollCosts`	$14.47K	USD	1 Quarter
Cost of revenue and service delivery	`CostOfRevenue`	$4.72M	USD	1 Quarter
Cost of revenue and service delivery	`CostOfRevenue`	$11.31M	USD	2 Qtrs
Cost of revenue and service delivery	`CostOfRevenue`	$5.76M	USD	1 Quarter
Employee payroll costs	`EmployeePayrollCosts`	$25.91K	USD	2 Qtrs
Employee payroll costs	`EmployeePayrollCosts`	$18.45K	USD	1 Quarter
Gross profit	`GrossProfit`	$375.20K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.69M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.31M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.96M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.91M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.17M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.27M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.46M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-1.53M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-585.61K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-3.15M	USD	2 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-211.93K	USD	2 Qtrs
Other Income	`OtherNonoperatingIncomeExpense`	$27.00	USD	2 Qtrs
Other Income	`OtherNonoperatingIncomeExpense`	$12.00	USD	1 Quarter
Other Income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other Income	`OtherNonoperatingIncomeExpense`	-	USD	2 Qtrs
Interest	`InterestExpense`	$7.99K	USD	1 Quarter
Interest	`InterestExpense`	$23.88K	USD	2 Qtrs
Interest	`InterestExpense`	$13.55K	USD	1 Quarter
Interest	`InterestExpense`	$16.31K	USD	2 Qtrs
Tax Penalties	`TaxPenalties`	$385.21K	USD	1 Quarter
Tax Penalties	`TaxPenalties`	$441.74K	USD	2 Qtrs
Tax Penalties	`TaxPenalties`	-	USD	2 Qtrs
Tax Penalties	`TaxPenalties`	-	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.92M	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-599.16K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-235.81K	USD	2 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.61M	USD	2 Qtrs
Comprehensive (loss) for the period	`ComprehensiveIncomeNetOfTax`	$-599.16K	USD	1 Quarter
Comprehensive (loss) for the period	`ComprehensiveIncomeNetOfTax`	$-3.61M	USD	2 Qtrs
Comprehensive (loss) for the period	`ComprehensiveIncomeNetOfTax`	$-1.92M	USD	1 Quarter
Comprehensive (loss) for the period	`ComprehensiveIncomeNetOfTax`	$-235.81K	USD	2 Qtrs
Loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	2 Qtrs
Loss per share, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Weighted average shares outstanding basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.80M	shares	1 Quarter
Weighted average shares outstanding basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.21M	shares	1 Quarter
Weighted average shares outstanding basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.07M	shares	2 Qtrs
Weighted average shares outstanding basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.21M	shares	2 Qtrs

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-3.61M	USD	2 Qtrs
Net (loss)	`NetIncomeLoss`	$-235.81K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$12.31K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$11.16K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.32M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-317.41K	USD	2 Qtrs
Due from related party	`IncreaseDecreaseInDueFromRelatedParties`	$-511.12K	USD	2 Qtrs
Due from related party	`IncreaseDecreaseInDueFromRelatedParties`	$275.00K	USD	2 Qtrs
Prepaid expenses and deposits	`IncreaseDecreaseInPrepaidExpense`	$-46.81K	USD	2 Qtrs
Prepaid expenses and deposits	`IncreaseDecreaseInPrepaidExpense`	$424.01K	USD	2 Qtrs
Prepaid worker compensation expense	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	2 Qtrs
Prepaid worker compensation expense	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.09M	USD	2 Qtrs
Bank overdraft	`IncreaseDecreaseIncreaseDecreaseInBankOverdraft`	-	USD	2 Qtrs
Bank overdraft	`IncreaseDecreaseIncreaseDecreaseInBankOverdraft`	$17.52K	USD	2 Qtrs
Accrued workers compensation expense	`IncreaseDecreaseInWorkersCompensationLiabilities`	-	USD	2 Qtrs
Accrued workers compensation expense	`IncreaseDecreaseInWorkersCompensationLiabilities`	$39.15K	USD	2 Qtrs
Payroll taxes payable	`IncreaseDecreaseInEmployeeRelatedLiabilities`	-	USD	2 Qtrs
Payroll taxes payable	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$3.77M	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-696.86K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.92K	USD	2 Qtrs
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-297.50K	USD	2 Qtrs
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$20.74K	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquireMachineryAndEquipment`	-	USD	2 Qtrs
Purchase of equipment	`PaymentsToAcquireMachineryAndEquipment`	$46.12K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-46.12K	USD	2 Qtrs
Payments to related party	`RepaymentsOfRelatedPartyDebt`	$92.33K	USD	2 Qtrs
Payments to related party	`RepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Payments of long-term payable	`RepaymentsOfLongTermDebt`	-	USD	2 Qtrs
Payments of long-term payable	`RepaymentsOfLongTermDebt`	$35.00K	USD	2 Qtrs
Issuance of shares	`ProceedsFromIssuanceOfCommonStock`	$443.98K	USD	2 Qtrs
Issuance of shares	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-153.23K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$443.98K	USD	2 Qtrs
Assignment of accounts receivable	`RepaymentsOfAccountsReceivableSecuritization`	$25.90K	USD	2 Qtrs
Assignment of accounts receivable	`RepaymentsOfAccountsReceivableSecuritization`	-	USD	2 Qtrs
Net increase (decrease) in cash from continuing operations	`NetCashProvidedByUsedInContinuingOperations`	$-132.49K	USD	2 Qtrs
Net increase (decrease) in cash from continuing operations	`NetCashProvidedByUsedInContinuingOperations`	$100.35K	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$882.07K	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`	$781.72K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$882.07K	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`	$781.72K	USD	Point-in-time
Interest paid	`InterestPaid`	$23.88K	USD	2 Qtrs
Interest paid	`InterestPaid`	$16.31K	USD	2 Qtrs
Income taxes payable	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes payable	`IncomeTaxesPaid`	-	USD	2 Qtrs

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