10-Q/A Filing

SURFACE COATINGS, INC. CIK: 1393356 Q2 2011

Filing Information

Form Type	10-Q/A
Accession Number	`0001121781-11-000263`
Period End Date	20110630
Filing Date	20110915
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	sctz-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 56 Cash Flow Statement 58 Stockholders Equity 16

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$121.04K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$114.49K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$115.72K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	5.43M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	5.43M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$134.96K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	5.43M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$109.16K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	5.43M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$88.46K	USD	Point-in-time
Allowance for Estimated Returns	`CustomerRefundLiabilityCurrent`	$6.84K	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Allowance for Estimated Returns	`CustomerRefundLiabilityCurrent`	$1.40K	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid Expenses	`PrepaidExpense`	-	USD	Point-in-time
Prepaid Expenses	`PrepaidExpense`	$6.29K	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventory	`InventoriesPropertyHeldForSaleCurrent`	$71.79K	USD	Point-in-time
Inventory	`InventoriesPropertyHeldForSaleCurrent`	$57.46K	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
Total Current Assets	`AssetsCurrent`	$253.58K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$306.88K	USD	Point-in-time
Machinery and Equipment	`MachineryAndEquipmentGross`	$18.33K	USD	Point-in-time
Machinery and Equipment	`MachineryAndEquipmentGross`	$18.33K	USD	Point-in-time
Leasehold Improvements	`LeaseholdImprovementsGross`	$1.41K	USD	Point-in-time
Leasehold Improvements	`LeaseholdImprovementsGross`	$1.41K	USD	Point-in-time
Less: Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$-12.73K	USD	Point-in-time
Less: Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$-10.64K	USD	Point-in-time
Total Fixed Assets	`PropertyPlantAndEquipmentNet`	$7.01K	USD	Point-in-time
Total Fixed Assets	`PropertyPlantAndEquipmentNet`	$9.09K	USD	Point-in-time
Total Assets	`Assets`	$262.66K	USD	Point-in-time
Total Assets	`Assets`	$313.88K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$33.03K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$53.21K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$57.13K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$73.05K	USD	Point-in-time
Due to Related Parties	`AccountsPayableRelatedPartiesCurrent`	$22.05K	USD	Point-in-time
Due to Related Parties	`AccountsPayableRelatedPartiesCurrent`	$22.05K	USD	Point-in-time
Customer Deposits	`CustomerAdvancesAndDeposits`	$33.46K	USD	Point-in-time
Customer Deposits	`CustomerAdvancesAndDeposits`	-	USD	Point-in-time
Current Portion of Notes Payable to Shareholders	`DueToOfficersOrStockholdersCurrent`	$20.27K	USD	Point-in-time
Current Portion of Notes Payable to Shareholders	`DueToOfficersOrStockholdersCurrent`	$17.47K	USD	Point-in-time
Current Portion of Capital Lease Obligation	`CapitalLeaseObligationsCurrent`	$2.78K	USD	Point-in-time
Current Portion of Capital Lease Obligation	`CapitalLeaseObligationsCurrent`	$3.34K	USD	Point-in-time
Line-of-Credit	`LinesOfCreditCurrent`	$29.50K	USD	Point-in-time
Line-of-Credit	`LinesOfCreditCurrent`	$19.51K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$211.90K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$174.95K	USD	Point-in-time
Capital Lease Obligation - Equipment	`CapitalLeaseObligationsNoncurrent`	$1.12K	USD	Point-in-time
Capital Lease Obligation - Equipment	`CapitalLeaseObligationsNoncurrent`	-	USD	Point-in-time
Notes Payable to Related Parties (net of current portion)	`DueToRelatedPartiesNoncurrent`	$46.05K	USD	Point-in-time
Notes Payable to Related Parties (net of current portion)	`DueToRelatedPartiesNoncurrent`	$35.78K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$36.90K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$46.05K	USD	Point-in-time
Total Liabilities	`Liabilities`	$248.79K	USD	Point-in-time
Total Liabilities	`Liabilities`	$221.00K	USD	Point-in-time
Preferred stock, $.001 par value, 20,000,000 shares authorized, -0- shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.001 par value, 20,000,000 shares authorized, -0- shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.001 par value, 50,000,000 shares authorized, 5,429,000 and 5,429,000 shares issued and outstanding, respectively	`CommonStockValue`	$5.43K	USD	Point-in-time
Common stock, $.001 par value, 50,000,000 shares authorized, 5,429,000 and 5,429,000 shares issued and outstanding, respectively	`CommonStockValue`	$5.43K	USD	Point-in-time
Paid In Capital	`AdditionalPaidInCapital`	$265.56K	USD	Point-in-time
Paid In Capital	`AdditionalPaidInCapital`	$265.56K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-257.12K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-257.12K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$13.87K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$92.89K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$262.66K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$313.88K	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$312.32K	USD	2 Qtrs
Revenue	`Revenues`	$176.93K	USD	1 Quarter
Revenue	`Revenues`	$793.09K	USD	2 Qtrs
Revenue	`Revenues`	$400.08K	USD	1 Quarter
Cost of Sales	`CostOfGoodsSold`	$497.21K	USD	2 Qtrs
Cost of Sales	`CostOfGoodsSold`	$238.48K	USD	1 Quarter
Cost of Sales	`CostOfGoodsSold`	$171.97K	USD	2 Qtrs
Cost of Sales	`CostOfGoodsSold`	$101.78K	USD	1 Quarter
Gross Profit	`GrossProfit`	$295.88K	USD	2 Qtrs
Gross Profit	`GrossProfit`	$75.14K	USD	1 Quarter
Gross Profit	`GrossProfit`	$140.35K	USD	2 Qtrs
Gross Profit	`GrossProfit`	$161.61K	USD	1 Quarter
Depreciation Expense	`DepreciationExpense`	$1.36K	USD	2 Qtrs
Depreciation Expense	`DepreciationExpense`	$2.15K	USD	2 Qtrs
Depreciation Expense	`DepreciationExpense`	$1.07K	USD	1 Quarter
Depreciation Expense	`DepreciationExpense`	$1.00K	USD	1 Quarter
Advertising Expense	`AdvertisingExpense`	$7.30K	USD	1 Quarter
Advertising Expense	`AdvertisingExpense`	$19.93K	USD	2 Qtrs
Advertising Expense	`AdvertisingExpense`	$15.44K	USD	1 Quarter
Advertising Expense	`AdvertisingExpense`	$24.78K	USD	2 Qtrs
General and Administrative	`GeneralAndAdministrativeExpense`	$146.64K	USD	2 Qtrs
General and Administrative	`GeneralAndAdministrativeExpense`	$189.22K	USD	2 Qtrs
General and Administrative	`GeneralAndAdministrativeExpense`	$66.14K	USD	1 Quarter
General and Administrative	`GeneralAndAdministrativeExpense`	$94.87K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$214.35K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$111.31K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$74.51K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$168.72K	USD	2 Qtrs
Net Operating Income (Loss)	`OperatingIncomeLoss`	$50.93K	USD	1 Quarter
Net Operating Income (Loss)	`OperatingIncomeLoss`	$-28.37K	USD	2 Qtrs
Net Operating Income (Loss)	`OperatingIncomeLoss`	$631.00	USD	1 Quarter
Net Operating Income (Loss)	`OperatingIncomeLoss`	$80.53K	USD	2 Qtrs
Loss on Sale of Asset	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Loss on Sale of Asset	`GainLossOnDispositionOfAssets`	-	USD	2 Qtrs
Loss on Sale of Asset	`GainLossOnDispositionOfAssets`	-	USD	2 Qtrs
Loss on Sale of Asset	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Interest Expense	`InterestExpense`	$-1.51K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$-712.00	USD	1 Quarter
Interest Expense	`InterestExpense`	$-1.81K	USD	1 Quarter
Interest Expense	`InterestExpense`	$-2.81K	USD	2 Qtrs
Total Other Income (Expense)	`OtherIncome`	$-1.51K	USD	2 Qtrs
Total Other Income (Expense)	`OtherIncome`	$-2.81K	USD	2 Qtrs
Total Other Income (Expense)	`OtherIncome`	$-712.00	USD	1 Quarter
Total Other Income (Expense)	`OtherIncome`	$-1.81K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-1.18K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-31.18K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$92.89K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$49.58K	USD	1 Quarter
Basic and Diluted Earnings (Loss) per share	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Basic and Diluted Earnings (Loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and Diluted Earnings (Loss) per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Basic and Diluted Earnings (Loss) per share	`EarningsPerShareBasicAndDiluted`	$0.01	USD	2 Qtrs
Basic and Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	5.24M	shares	1 Quarter
Basic and Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	5.08M	shares	2 Qtrs
Basic and Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	5.43M	shares	1 Quarter
Basic and Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	5.43M	shares	2 Qtrs

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-1.18K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-31.18K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$92.89K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$49.58K	USD	1 Quarter
Depreciation	`Depreciation`	$2.15K	USD	2 Qtrs
Depreciation	`Depreciation`	$2.08K	USD	2 Qtrs
Bad Debt Expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	-	USD	2 Qtrs
Bad Debt Expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$-13.41K	USD	2 Qtrs
Allowance for Estimated Returns	`SalesReturnsAndAllowancesGoods`	$1.91K	USD	2 Qtrs
Allowance for Estimated Returns	`SalesReturnsAndAllowancesGoods`	$-5.45K	USD	2 Qtrs
(Increase) Decrease in Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-7.28K	USD	2 Qtrs
(Increase) Decrease in Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-24.32K	USD	2 Qtrs
(Increase) in Inventory	`IncreaseDecreaseInInventories`	$-14.32K	USD	2 Qtrs
(Increase) in Inventory	`IncreaseDecreaseInInventories`	$-2.31K	USD	2 Qtrs
Decrease in Other Assets	`IncreaseDecreaseInOtherCurrentAssets`	$1.63K	USD	2 Qtrs
Decrease in Other Assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	2 Qtrs
Increase in Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$20.18K	USD	2 Qtrs
Increase in Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$25.68K	USD	2 Qtrs
(Increase) in Prepaid Expense	`IncreaseDecreaseInPrepaidExpense`	$-6.29K	USD	2 Qtrs
(Increase) in Prepaid Expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Increase in Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$7.82K	USD	2 Qtrs
Increase in Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$-15.92K	USD	2 Qtrs
Increase (Decrease) in Other Liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-33.46K	USD	2 Qtrs
Increase (Decrease) in Other Liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$5.90K	USD	2 Qtrs
Increase (Decrease) in Line-of-Credit	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$4.86K	USD	2 Qtrs
Increase (Decrease) in Line-of-Credit	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$-10.00K	USD	2 Qtrs
CASH FLOWS PROVIDED BY (USED) IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-7.86K	USD	2 Qtrs
CASH FLOWS PROVIDED BY (USED) IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-4.86K	USD	2 Qtrs
NetCashProvidedByUsedInInvestingActivities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
NetCashProvidedByUsedInInvestingActivities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Payments on Shareholder Note	`RepaymentsOfOtherDebt`	$-3.15K	USD	2 Qtrs
Payments on Shareholder Note	`RepaymentsOfOtherDebt`	-	USD	2 Qtrs
Note Payable from Shareholder	`ProceedsFromRelatedPartyDebt`	$20.00K	USD	2 Qtrs
Note Payable from Shareholder	`ProceedsFromRelatedPartyDebt`	-	USD	2 Qtrs
Payments on Capitalized Lease Commitment	`ReductionOfShortTermCapitalLeaseObligations`	$-1.67K	USD	2 Qtrs
Payments on Capitalized Lease Commitment	`ReductionOfShortTermCapitalLeaseObligations`	$-1.67K	USD	2 Qtrs
Payments on Note to President	`RepaymentsOfRelatedPartyDebt`	$-2.94K	USD	2 Qtrs
Payments on Note to President	`RepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Payments on Note to Related Parties	`RepaymentsOfNotesPayable`	$-3.63K	USD	2 Qtrs
Payments on Note to Related Parties	`RepaymentsOfNotesPayable`	$-6.92K	USD	2 Qtrs
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$11.41K	USD	2 Qtrs
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-11.39K	USD	2 Qtrs
NET (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$-19.24K	USD	2 Qtrs
NET (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$6.55K	USD	2 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$121.04K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$114.49K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$115.72K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$134.96K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$121.04K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$114.49K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$115.72K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$134.96K	USD	Point-in-time
Interest paid	`InterestPaid`	$1.51K	USD	2 Qtrs
Interest paid	`InterestPaid`	$2.81K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Beginning Balance (Shares)	`CommonStockSharesOutstanding`	5.43M	shares	Point-in-time
Common Stock, Beginning Balance (Shares)	`CommonStockSharesOutstanding`	5.43M	shares	Point-in-time
Common Stock, Beginning Balance (Value)	`CommonStockValue`	$5.43K	USD	Point-in-time
Common Stock, Beginning Balance (Value)	`CommonStockValue`	$5.43K	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$265.56K	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$265.56K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-257.12K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-257.12K	USD	Point-in-time
Common Stock, Ending Balance (Shares)	`CommonStockSharesOutstanding`	5.43M	shares	Point-in-time
Common Stock, Ending Balance (Shares)	`CommonStockSharesOutstanding`	5.43M	shares	Point-in-time
Common Stock, Ending Balance (Value)	`CommonStockValue`	$5.43K	USD	Point-in-time
Common Stock, Ending Balance (Value)	`CommonStockValue`	$5.43K	USD	Point-in-time
Net (Loss)	`NetIncomeLoss`	$-1.18K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$-31.18K	USD	2 Qtrs
Net (Loss)	`NetIncomeLoss`	$92.89K	USD	2 Qtrs
Net (Loss)	`NetIncomeLoss`	$49.58K	USD	1 Quarter

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