10-Q Filing

SURFACE COATINGS, INC. CIK: 1393356 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001121781-11-000346`
Period End Date	20110930
Filing Date	20111114
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	sctz-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 56 Cash Flow Statement 56 Stockholders Equity 13

Balance Sheet 70 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`	$114.49K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.48K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	5.43M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$119.04K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$134.96K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	5.43M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$88.46K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	5.43M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$129.28K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	5.43M	shares	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
Allowance for Estimated Returns	`CustomerRefundLiabilityCurrent`	$6.84K	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`	$9.79K	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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
Inventory	`InventoriesPropertyHeldForSaleCurrent`	$60.85K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$317.56K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$253.58K	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`	$-13.73K	USD	Point-in-time
Less: Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$-10.64K	USD	Point-in-time
Total Fixed Assets	`PropertyPlantAndEquipmentNet`	$9.09K	USD	Point-in-time
Total Fixed Assets	`PropertyPlantAndEquipmentNet`	$6.00K	USD	Point-in-time
Total Assets	`Assets`	$262.66K	USD	Point-in-time
Total Assets	`Assets`	$323.56K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$33.03K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$68.15K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$73.05K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$37.95K	USD	Point-in-time
Due to Related Parties	`AccountsPayableRelatedPartiesCurrent`	$21.21K	USD	Point-in-time
Due to Related Parties	`AccountsPayableRelatedPartiesCurrent`	$22.05K	USD	Point-in-time
Customer Deposits	`CustomerAdvancesAndDeposits`	-	USD	Point-in-time
Customer Deposits	`CustomerAdvancesAndDeposits`	$33.46K	USD	Point-in-time
Current Portion of Notes Payable to Shareholders	`DueToOfficersOrStockholdersCurrent`	$21.45K	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`	$1.95K	USD	Point-in-time
Current Portion of Capital Lease Obligation	`CapitalLeaseObligationsCurrent`	$3.34K	USD	Point-in-time
Line-of-Credit	`LinesOfCreditCurrent`	$9.79K	USD	Point-in-time
Line-of-Credit	`LinesOfCreditCurrent`	$29.50K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$211.90K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$160.50K	USD	Point-in-time
Capital Lease Obligation - Equipment	`CapitalLeaseObligationsNoncurrent`	-	USD	Point-in-time
Capital Lease Obligation - Equipment	`CapitalLeaseObligationsNoncurrent`	$1.12K	USD	Point-in-time
Notes Payable to Related Parties (net of current portion)	`DueToRelatedPartiesNoncurrent`	$30.65K	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`	$30.65K	USD	Point-in-time
Total Liabilities	`Liabilities`	$248.79K	USD	Point-in-time
Total Liabilities	`Liabilities`	$191.15K	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
Paid In Capital	`AdditionalPaidInCapital`	$265.56K	USD	Point-in-time
Paid In Capital	`AdditionalPaidInCapital`	$265.56K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-138.57K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$132.42K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$13.87K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$323.56K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$262.66K	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$595.05K	USD	3 Qtrs
Revenue	`Revenues`	$340.63K	USD	1 Quarter
Revenue	`Revenues`	$1.13M	USD	3 Qtrs
Revenue	`Revenues`	$282.72K	USD	1 Quarter
Cost of Sales	`CostOfGoodsSold`	$178.79K	USD	1 Quarter
Cost of Sales	`CostOfGoodsSold`	$690.14K	USD	3 Qtrs
Cost of Sales	`CostOfGoodsSold`	$350.76K	USD	3 Qtrs
Cost of Sales	`CostOfGoodsSold`	$192.93K	USD	1 Quarter
Gross Profit	`GrossProfit`	$147.70K	USD	1 Quarter
Gross Profit	`GrossProfit`	$103.93K	USD	1 Quarter
Gross Profit	`GrossProfit`	$443.58K	USD	3 Qtrs
Gross Profit	`GrossProfit`	$244.29K	USD	3 Qtrs
Depreciation Expense	`DepreciationExpense`	$1.73K	USD	1 Quarter
Depreciation Expense	`DepreciationExpense`	$3.23K	USD	3 Qtrs
Depreciation Expense	`DepreciationExpense`	$3.09K	USD	3 Qtrs
Depreciation Expense	`DepreciationExpense`	$1.08K	USD	1 Quarter
Advertising Expense	`AdvertisingExpense`	$28.10K	USD	3 Qtrs
Advertising Expense	`AdvertisingExpense`	$41.93K	USD	3 Qtrs
Advertising Expense	`AdvertisingExpense`	$17.15K	USD	1 Quarter
Advertising Expense	`AdvertisingExpense`	$8.17K	USD	1 Quarter
General and Administrative	`GeneralAndAdministrativeExpense`	$277.57K	USD	3 Qtrs
General and Administrative	`GeneralAndAdministrativeExpense`	$88.35K	USD	1 Quarter
General and Administrative	`GeneralAndAdministrativeExpense`	$88.88K	USD	1 Quarter
General and Administrative	`GeneralAndAdministrativeExpense`	$235.52K	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$98.13K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$322.58K	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$266.85K	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$107.23K	USD	1 Quarter
Net Operating Income (Loss)	`OperatingIncomeLoss`	$121.00K	USD	3 Qtrs
Net Operating Income (Loss)	`OperatingIncomeLoss`	$40.47K	USD	1 Quarter
Net Operating Income (Loss)	`OperatingIncomeLoss`	$-22.56K	USD	3 Qtrs
Net Operating Income (Loss)	`OperatingIncomeLoss`	$5.81K	USD	1 Quarter
Loss on Sale of Asset	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Loss on Sale of Asset	`GainLossOnDispositionOfAssets`	-	USD	3 Qtrs
Loss on Sale of Asset	`GainLossOnDispositionOfAssets`	-	USD	3 Qtrs
Loss on Sale of Asset	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Interest Expense	`InterestExpense`	$-4.11K	USD	3 Qtrs
Interest Expense	`InterestExpense`	$-1.30K	USD	1 Quarter
Interest Expense	`InterestExpense`	$-2.46K	USD	3 Qtrs
Interest Expense	`InterestExpense`	$-944.00	USD	1 Quarter
Total Other Income (Expense)	`OtherIncome`	$-1.30K	USD	1 Quarter
Total Other Income (Expense)	`OtherIncome`	$-2.46K	USD	3 Qtrs
Total Other Income (Expense)	`OtherIncome`	$-4.11K	USD	3 Qtrs
Total Other Income (Expense)	`OtherIncome`	$-944.00	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$4.51K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$118.54K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-26.68K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$39.53K	USD	1 Quarter
Basic and Diluted Earnings (Loss) per share	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Basic and Diluted Earnings (Loss) per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Basic and Diluted Earnings (Loss) per share	`EarningsPerShareBasicAndDiluted`	$0.02	USD	3 Qtrs
Basic and Diluted Earnings (Loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	5.43M	shares	1 Quarter
Basic and Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	5.43M	shares	3 Qtrs
Basic and Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	5.43M	shares	1 Quarter
Basic and Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	5.43M	shares	3 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$4.51K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$118.54K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-26.68K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$39.53K	USD	1 Quarter
Depreciation	`Depreciation`	$3.09K	USD	3 Qtrs
Depreciation	`Depreciation`	$3.23K	USD	3 Qtrs
Bad Debt Expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$-13.41K	USD	3 Qtrs
Bad Debt Expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$4.92K	USD	3 Qtrs
Allowance for Estimated Returns	`SalesReturnsAndAllowancesGoods`	-	USD	3 Qtrs
Allowance for Estimated Returns	`SalesReturnsAndAllowancesGoods`	-	USD	3 Qtrs
(Increase) Decrease in Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-27.41K	USD	3 Qtrs
(Increase) Decrease in Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-99.50K	USD	3 Qtrs
(Increase) in Inventory	`IncreaseDecreaseInInventories`	$-5.46K	USD	3 Qtrs
(Increase) in Inventory	`IncreaseDecreaseInInventories`	$-3.39K	USD	3 Qtrs
Decrease in Other Assets	`IncreaseDecreaseInOtherCurrentAssets`	$-14.95K	USD	3 Qtrs
Decrease in Other Assets	`IncreaseDecreaseInOtherCurrentAssets`	$-1.77K	USD	3 Qtrs
Increase in Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$46.47K	USD	3 Qtrs
Increase in Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$35.12K	USD	3 Qtrs
(Increase) in Prepaid Expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	3 Qtrs
(Increase) in Prepaid Expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	3 Qtrs
Increase in Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$-35.10K	USD	3 Qtrs
Increase in Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$31.60K	USD	3 Qtrs
Increase (Decrease) in Other Liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	-	USD	3 Qtrs
Increase (Decrease) in Other Liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-33.46K	USD	3 Qtrs
Increase (Decrease) in Line-of-Credit	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$7.29K	USD	3 Qtrs
Increase (Decrease) in Line-of-Credit	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$-19.72K	USD	3 Qtrs
CASH FLOWS PROVIDED BY (USED) IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-39.89K	USD	3 Qtrs
CASH FLOWS PROVIDED BY (USED) IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$9.32K	USD	3 Qtrs
NetCashProvidedByUsedInInvestingActivities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
NetCashProvidedByUsedInInvestingActivities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Payments on Shareholder Note	`RepaymentsOfOtherDebt`	-	USD	3 Qtrs
Payments on Shareholder Note	`RepaymentsOfOtherDebt`	$-3.15K	USD	3 Qtrs
Note Payable from Shareholder	`ProceedsFromRelatedPartyDebt`	$20.00K	USD	3 Qtrs
Note Payable from Shareholder	`ProceedsFromRelatedPartyDebt`	-	USD	3 Qtrs
Payments on Capitalized Lease Commitment	`ReductionOfShortTermCapitalLeaseObligations`	$-2.50K	USD	3 Qtrs
Payments on Capitalized Lease Commitment	`ReductionOfShortTermCapitalLeaseObligations`	$-2.50K	USD	3 Qtrs
Payments on Note to Related Parties	`RepaymentsOfNotesPayable`	$-19.95K	USD	3 Qtrs
Payments on Note to Related Parties	`RepaymentsOfNotesPayable`	$-22.27K	USD	3 Qtrs
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-4.78K	USD	3 Qtrs
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-25.59K	USD	3 Qtrs
NET (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$4.55K	USD	3 Qtrs
NET (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$-65.48K	USD	3 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$114.49K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$69.48K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$119.04K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$134.96K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$114.49K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$69.48K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$119.04K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$134.96K	USD	Point-in-time
Interest paid	`InterestPaid`	$4.11K	USD	3 Qtrs
Interest paid	`InterestPaid`	$2.46K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs

Stockholders Equity 13 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
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`	$-138.57K	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
Net (Loss)	`NetIncomeLoss`	$4.51K	USD	1 Quarter
Net (Loss)	`NetIncomeLoss`	$118.54K	USD	3 Qtrs
Net (Loss)	`NetIncomeLoss`	$-26.68K	USD	3 Qtrs
Net (Loss)	`NetIncomeLoss`	$39.53K	USD	1 Quarter

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