10-K Filing

TRUCEPT, INC. CIK: 947011 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001062993-13-001899`
Period End Date	20121231
Filing Date	20130415
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	sttk-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 32 Cash Flow Statement 54 Stockholders Equity 9

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`	$781.72K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$132.49K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$546.06K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.63M	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`	$1.06M	USD	Point-in-time
Due from related parties	`OtherReceivablesNetCurrent`	$1.42M	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
Common Stock, Par Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and deposits	`PrepaidExpenseCurrent`	$52.15K	USD	Point-in-time
Prepaid expenses and deposits	`PrepaidExpenseCurrent`	$8.55K	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
Common Stock, Shares, Issued	`CommonStockSharesIssued`	49.21M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.03M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	49.21M	shares	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`	$32.69K	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
Prepaid workers compensation	`PrepaidExpenseOtherNoncurrent`	$3.44M	USD	Point-in-time
Prepaid workers compensation	`PrepaidExpenseOtherNoncurrent`	$4.63M	USD	Point-in-time
Goodwill	`Goodwill`	$476.36K	USD	Point-in-time
Goodwill	`Goodwill`	$476.36K	USD	Point-in-time
Total Assets	`Assets`	$8.17M	USD	Point-in-time
Total Assets	`Assets`	$8.52M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.05M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$441.44K	USD	Point-in-time
Assigned receivables liability	`OtherLiabilitiesCurrent`	$826.94K	USD	Point-in-time
Assigned receivables liability	`OtherLiabilitiesCurrent`	$631.79K	USD	Point-in-time
Accrued payroll taxes	`AccruedPayrollTaxesCurrent`	$9.98M	USD	Point-in-time
Accrued payroll taxes	`AccruedPayrollTaxesCurrent`	$17.64M	USD	Point-in-time
Accrued payroll taxes penalties	`AccruedPayrollTaxesPenalties`	$1.39M	USD	Point-in-time
Accrued payroll taxes penalties	`AccruedPayrollTaxesPenalties`	$1.97M	USD	Point-in-time
Accrued workers compensation	`WorkersCompensationLiabilityCurrent`	$1.06M	USD	Point-in-time
Accrued workers compensation	`WorkersCompensationLiabilityCurrent`	$1.45M	USD	Point-in-time
Payable to related parties	`AccountsPayableRelatedPartiesCurrent`	$609.02K	USD	Point-in-time
Payable to related parties	`AccountsPayableRelatedPartiesCurrent`	$272.67K	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`	$22.93M	USD	Point-in-time
Total current liability	`LiabilitiesCurrent`	$15.39M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$35.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$22.93M	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 issued and outstanding at December 31, 2012 and 2011	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: $0.001 par value, 5,000,000 shares authorized, zero shares issued and outstanding at December 31, 2012 and 2011	`PreferredStockValue`	-	USD	Point-in-time
Common stock: $0.001 par value, 500,000,000 shares authorized, 49,212,123 issued and outstanding at December 31, 2012 and 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 December 31, 2012 and 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`	$-22.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.23M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-14.76M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-6.90M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$774.99K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$8.17M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$8.52M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Gross Billings	`GrossTransactionVolume`	$108,400.00B	USD	Annual
Gross Billings	`GrossTransactionVolume`	$97,400.00B	USD	Annual
Revenue (gross billings of $108.4 and $97.4 million, less worksite employee payroll cost of $80.6 million and $75.6 million respectively)	`Revenues`	$27.73M	USD	Annual
Revenue (gross billings of $108.4 and $97.4 million, less worksite employee payroll cost of $80.6 million and $75.6 million respectively)	`Revenues`	$21.75M	USD	Annual
Employee payroll costs	`EmployeePayrollCosts`	$80.60M	USD	Annual
Cost of revenue and service delivery	`CostOfRevenue`	$20.81M	USD	Annual
Employee payroll costs	`EmployeePayrollCosts`	$75.60M	USD	Annual
Cost of revenue and service delivery	`CostOfRevenue`	$26.63M	USD	Annual
Gross profit	`GrossProfit`	$1.10M	USD	Annual
Gross profit	`GrossProfit`	$943.01K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.95M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$8.40M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-6.01M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-7.30M	USD	Annual
Interest expense	`InterestExpense`	$192.30K	USD	Annual
Interest expense	`InterestExpense`	$162.63K	USD	Annual
Tax penalties	`TaxPenalties`	$1.74M	USD	Annual
Tax penalties	`TaxPenalties`	$391.77K	USD	Annual
Legal settlement	`LegalFees`	-	USD	Annual
Legal settlement	`LegalFees`	$180.00K	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$345.00	USD	Annual
Other income	`OtherNonoperatingIncomeExpense`	$3.75K	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-554.05K	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-2.11M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.12M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.85M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-8.12M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-7.85M	USD	Annual
Net loss per share of common stock, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	Annual
Net loss per share of common stock, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.21	USD	Annual
Weighted average shares of common stock outstanding, basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.21M	shares	Annual
Weighted average shares of common stock outstanding, basic and diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.03M	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.12M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.85M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$22.31K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$20.21K	USD	Annual
Share based compensation expense	`ShareBasedCompensation`	-	USD	Annual
Share based compensation expense	`ShareBasedCompensation`	$443.98K	USD	Annual
Miscellaneous assets	`MiscellaneousAssets`	$-11.36K	USD	Annual
Miscellaneous assets	`MiscellaneousAssets`	-	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$150.00K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$315.12K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$86.60K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-249.98K	USD	Annual
Due from related parties	`IncreaseDecreaseInDueFromRelatedParties`	$2.74M	USD	Annual
Due from related parties	`IncreaseDecreaseInDueFromRelatedParties`	$-1.32M	USD	Annual
Payable to related parties	`IncreaseDecreaseInDueToRelatedParties`	$220.61K	USD	Annual
Payable to related parties	`IncreaseDecreaseInDueToRelatedParties`	$-336.35K	USD	Annual
Prepaid expenses and deposits	`IncreaseDecreaseInPrepaidExpense`	$-16.94K	USD	Annual
Prepaid expenses and deposits	`IncreaseDecreaseInPrepaidExpense`	$-43.60K	USD	Annual
Prepaid worker compensation expense	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.19M	USD	Annual
Prepaid worker compensation expense	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.09M	USD	Annual
Accrued workers compensation	`IncreaseDecreaseInWorkersCompensationLiabilities`	$392.04K	USD	Annual
Accrued workers compensation	`IncreaseDecreaseInWorkersCompensationLiabilities`	$1.06M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-950.36K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$610.64K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.10M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.43M	USD	Annual
Purchase of equipment	`PaymentsToAcquireMachineryAndEquipment`	-	USD	Annual
Purchase of equipment	`PaymentsToAcquireMachineryAndEquipment`	$27.72K	USD	Annual
Cash from Solvis Medical Group assets	`ProceedsFromSaleOfOtherAssets`	$35.00K	USD	Annual
Cash from Solvis Medical Group assets	`ProceedsFromSaleOfOtherAssets`	-	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$7.28K	USD	Annual
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Assignment of accounts receivable	`RepaymentsOfAccountsReceivableSecuritization`	$195.16K	USD	Annual
Assignment of accounts receivable	`RepaymentsOfAccountsReceivableSecuritization`	-	USD	Annual
Payroll taxes payable	`PayrollTaxesPayable`	$7.07M	USD	Annual
Payroll taxes payable	`PayrollTaxesPayable`	$10.44M	USD	Annual
Payments of long-term payable	`RepaymentsOfLongTermDebt`	$35.00K	USD	Annual
Payments of long-term payable	`RepaymentsOfLongTermDebt`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.44M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.84M	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$413.56K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-649.23K	USD	Annual
Cash and cash equivalents, beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$781.72K	USD	Point-in-time
Cash and cash equivalents, beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$132.49K	USD	Point-in-time
Cash and cash equivalents, beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$546.06K	USD	Point-in-time
Cash and cash equivalents, end of the year	`CashAndCashEquivalentsAtCarryingValue`	$781.72K	USD	Point-in-time
Cash and cash equivalents, end of the year	`CashAndCashEquivalentsAtCarryingValue`	$132.49K	USD	Point-in-time
Cash and cash equivalents, end of the year	`CashAndCashEquivalentsAtCarryingValue`	$546.06K	USD	Point-in-time
Interest paid	`InterestPaid`	$143.05K	USD	Annual
Interest paid	`InterestPaid`	$194.30K	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Note payable - purchase of Solvis Medical Group assets	`NotesIssued1`	$500.00K	USD	Annual
Note payable - purchase of Solvis Medical Group assets	`NotesIssued1`	-	USD	Annual

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$-14.76M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-6.90M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$774.99K	USD	Point-in-time
Share-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$443.98K	USD	Annual
Net loss	`NetIncomeLoss`	$-8.12M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.85M	USD	Annual
Ending Balance	`StockholdersEquity`	$-14.76M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-6.90M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$774.99K	USD	Point-in-time

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