10-K Filing

SURFACE COATINGS, INC. CIK: 1393356 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001121781-12-000103`
Period End Date	20111231
Filing Date	20120330
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	sctz-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 26 Cash Flow Statement 54 Stockholders Equity 18

Balance Sheet 65 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`	$134.96K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$116.45K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	5.43M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$114.49K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	5.58M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	5.58M	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`	$91.79K	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	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
Allowance for Estimated Returns	`CustomerRefundLiabilityCurrent`	$6.84K	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid Expenses	`PrepaidExpense`	$5.85K	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid Expenses	`PrepaidExpense`	-	USD	Point-in-time
Inventory	`InventoriesPropertyHeldForSaleCurrent`	$57.46K	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventory	`InventoriesPropertyHeldForSaleCurrent`	$88.75K	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$301.44K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$253.58K	USD	Point-in-time
Machinery and Equipment	`MachineryAndEquipmentGross`	$81.63K	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`	$-17.90K	USD	Point-in-time
Less: Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$-10.64K	USD	Point-in-time
Total Fixed Assets	`PropertyPlantAndEquipmentNet`	$65.13K	USD	Point-in-time
Total Fixed Assets	`PropertyPlantAndEquipmentNet`	$9.09K	USD	Point-in-time
Total Assets	`Assets`	$366.57K	USD	Point-in-time
Total Assets	`Assets`	$262.66K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$53.05K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$33.03K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$37.88K	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`	-	USD	Point-in-time
Customer Deposits	`CustomerAdvancesAndDeposits`	$33.46K	USD	Point-in-time
Current Portion of Notes Payable to Shareholders	`DueToOfficersOrStockholdersCurrent`	$40.88K	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`	$1.12K	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`	$6.98K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$211.90K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$161.95K	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`	$35.78K	USD	Point-in-time
Notes Payable to Related Parties (net of current portion)	`DueToRelatedPartiesNoncurrent`	$65.32K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$36.90K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$65.32K	USD	Point-in-time
Total Liabilities	`Liabilities`	$227.26K	USD	Point-in-time
Total Liabilities	`Liabilities`	$248.79K	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`	$5.58K	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`	$287.91K	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`	$-154.18K	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$870.86K	USD	Annual
Revenue	`Revenues`	$1.45M	USD	Annual
Cost of Sales	`CostOfGoodsSold`	$863.27K	USD	Annual
Cost of Sales	`CostOfGoodsSold`	$527.15K	USD	Annual
Gross Profit	`GrossProfit`	$589.41K	USD	Annual
Gross Profit	`GrossProfit`	$343.71K	USD	Annual
Depreciation Expense	`DepreciationExpense`	$7.26K	USD	Annual
Depreciation Expense	`DepreciationExpense`	$4.81K	USD	Annual
Advertising Expense	`AdvertisingExpense`	$37.01K	USD	Annual
Advertising Expense	`AdvertisingExpense`	$71.71K	USD	Annual
General and Administrative	`GeneralAndAdministrativeExpense`	$319.56K	USD	Annual
General and Administrative	`GeneralAndAdministrativeExpense`	$402.22K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$361.38K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$481.19K	USD	Annual
Net Operating Income (Loss)	`OperatingIncomeLoss`	$-17.67K	USD	Annual
Net Operating Income (Loss)	`OperatingIncomeLoss`	$108.22K	USD	Annual
Interest Expense	`InterestExpense`	$-5.29K	USD	Annual
Interest Expense	`InterestExpense`	$-4.40K	USD	Annual
Total Other Income (Expense)	`OtherIncome`	$-5.29K	USD	Annual
Total Other Income (Expense)	`OtherIncome`	$-4.40K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$102.94K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-22.07K	USD	Annual
Basic and Diluted Earnings (Loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Basic and Diluted Earnings (Loss) per share	`EarningsPerShareBasicAndDiluted`	$0.02	USD	Annual
Basic and Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	5.49M	shares	Annual
Basic and Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	5.43M	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$102.94K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-22.07K	USD	Annual
Depreciation	`Depreciation`	$4.30K	USD	Annual
Depreciation	`Depreciation`	$7.26K	USD	Annual
Bad Debt Expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	-	USD	Annual
Bad Debt Expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$-11.17K	USD	Annual
Allowance for Estimated Returns	`SalesReturnsAndAllowancesGoods`	$-5.45K	USD	Annual
Allowance for Estimated Returns	`SalesReturnsAndAllowancesGoods`	$4.74K	USD	Annual
Stock Issued For Services	`StockIssuedDuringPeriodValueOther`	-	USD	Annual
Stock Issued For Services	`StockIssuedDuringPeriodValueOther`	$22.50K	USD	Annual
(Increase) Decrease in Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-38.69K	USD	Annual
(Increase) Decrease in Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.33K	USD	Annual
(Increase) in Inventory	`IncreaseDecreaseInInventories`	$-31.29K	USD	Annual
(Increase) in Inventory	`IncreaseDecreaseInInventories`	$-1.78K	USD	Annual
Decrease in Other Assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	Annual
Decrease in Other Assets	`IncreaseDecreaseInOtherCurrentAssets`	$-5.85K	USD	Annual
Increase in Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$20.02K	USD	Annual
Increase in Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$16.38K	USD	Annual
(Increase) in Prepaid Expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
(Increase) in Prepaid Expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
Increase in Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$35.17K	USD	Annual
Increase in Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$13.64K	USD	Annual
Increase (Decrease) in Other Liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$33.46K	USD	Annual
Increase (Decrease) in Other Liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-33.46K	USD	Annual
Increase (Decrease) in Line-of-Credit	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$10.57K	USD	Annual
Increase (Decrease) in Line-of-Credit	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$-22.52K	USD	Annual
CASH FLOWS PROVIDED BY (USED) IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$15.64K	USD	Annual
CASH FLOWS PROVIDED BY (USED) IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$9.39K	USD	Annual
Purchase of Fixed Assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Purchase of Fixed Assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$-63.30K	USD	Annual
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-63.30K	USD	Annual
Note Payable from Shareholder	`ProceedsFromRelatedPartyDebt`	$20.00K	USD	Annual
Note Payable from Shareholder	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Proceeds From Capital Lease Financing	`ProceedsFromLongTermCapitalLeaseObligations`	-	USD	Annual
Proceeds From Capital Lease Financing	`ProceedsFromLongTermCapitalLeaseObligations`	$63.30K	USD	Annual
Payments on Capitalized Lease Commitment	`ReductionOfShortTermCapitalLeaseObligations`	$-3.34K	USD	Annual
Payments on Capitalized Lease Commitment	`ReductionOfShortTermCapitalLeaseObligations`	$-7.67K	USD	Annual
Payments on Note to Related Parties	`RepaymentsOfNotesPayable`	$-26.52K	USD	Annual
Payments on Note to Related Parties	`RepaymentsOfNotesPayable`	$-26.02K	USD	Annual
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-29.85K	USD	Annual
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$49.62K	USD	Annual
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$134.96K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$116.45K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$114.49K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$134.96K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$116.45K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$114.49K	USD	Point-in-time
Interest paid	`InterestPaid`	$4.40K	USD	Annual
Interest paid	`InterestPaid`	$5.29K	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Stock Issued for Services	`StockIssuedDuringPeriodSharesOther`	0.00	shares	Annual
Stock Issued for Services	`StockIssuedDuringPeriodSharesOther`	22,500.00	shares	Annual

Stockholders Equity 18 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`	5.58M	shares	Point-in-time
Common Stock, Beginning Balance (Value)	`CommonStockValue`	$5.58K	USD	Point-in-time
Common Stock, Beginning Balance (Value)	`CommonStockValue`	$5.43K	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$287.91K	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`	$-154.18K	USD	Point-in-time
Shares Issued for Services, Shares	`StockIssuedDuringPeriodSharesOther`	22,500.00	shares	Annual
Shares Issued for Services, Shares	`StockIssuedDuringPeriodSharesOther`	0.00	shares	Annual
Shares Issued for Services, Value	`StockIssuedDuringPeriodValueOther`	-	USD	Annual
Shares Issued for Services, Value	`StockIssuedDuringPeriodValueOther`	$22.50K	USD	Annual
Common Stock, Ending Balance (Shares)	`CommonStockSharesOutstanding`	5.43M	shares	Point-in-time
Common Stock, Ending Balance (Shares)	`CommonStockSharesOutstanding`	5.58M	shares	Point-in-time
Common Stock, Ending Balance (Value)	`CommonStockValue`	$5.58K	USD	Point-in-time
Common Stock, Ending Balance (Value)	`CommonStockValue`	$5.43K	USD	Point-in-time
Net (Loss)	`NetIncomeLoss`	$102.94K	USD	Annual
Net (Loss)	`NetIncomeLoss`	$-22.07K	USD	Annual

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