10-Q/A Filing

SURFACE COATINGS, INC. CIK: 1393356 Q2 2012

Filing Information

Form Type	10-Q/A
Accession Number	`0001121781-12-000304`
Period End Date	20120630
Filing Date	20120905
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	sctz-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 32 Income Statement 48 Cash Flow Statement 52 Stockholders Equity 23

Balance Sheet 32 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
Common Stock, shares issued	`CommonStockSharesIssued`	5.58M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	3.78M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	5.58M	shares	Point-in-time
Assets Held for Sale	`AssetsHeldForSaleCurrent`	$354.88K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	3.78M	shares	Point-in-time
Assets Held for Sale	`AssetsHeldForSaleCurrent`	-	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
TOTAL ASSETS	`Assets`	$2.45K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$366.57K	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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 Payable	`AccountsPayableCurrent`	$265.00	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$263.00	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$750.00	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$500.00	USD	Point-in-time
Due to Related Parties	`AccountsPayableRelatedPartiesCurrent`	$22.05K	USD	Point-in-time
Due to Related Parties	`AccountsPayableRelatedPartiesCurrent`	$36.45K	USD	Point-in-time
Liabilities Held for Sale	`LiabilitiesOfAssetsHeldForSale`	$204.45K	USD	Point-in-time
Liabilities Held for Sale	`LiabilitiesOfAssetsHeldForSale`	-	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, 3,779,000 and 5,429,000 shares issued and outstanding, respectively	`CommonStockValue`	$3.78K	USD	Point-in-time
Common stock, $.001 par value, 50,000,000 shares authorized, 3,779,000 and 5,429,000 shares issued and outstanding, respectively	`CommonStockValue`	$5.58K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-205.16K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-154.18K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$139.31K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-35.02K	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	2 Qtrs
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	2 Qtrs
Revenue	`Revenues`	-	USD	1 Quarter
Cost of Sales	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of Sales	`CostOfGoodsSold`	-	USD	2 Qtrs
Cost of Sales	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of Sales	`CostOfGoodsSold`	-	USD	2 Qtrs
Gross Profit	`GrossProfit`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	2 Qtrs
Gross Profit	`GrossProfit`	-	USD	2 Qtrs
General and Administrative	`GeneralAndAdministrativeExpense`	$5.21K	USD	1 Quarter
General and Administrative	`GeneralAndAdministrativeExpense`	$23.90K	USD	2 Qtrs
General and Administrative	`GeneralAndAdministrativeExpense`	$9.65K	USD	1 Quarter
General and Administrative	`GeneralAndAdministrativeExpense`	$22.07K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$5.21K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$9.65K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$23.90K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$22.07K	USD	2 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-9.65K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-22.07K	USD	2 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-23.90K	USD	2 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-5.21K	USD	1 Quarter
Net income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-27.08K	USD	2 Qtrs
Net income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$59.23K	USD	1 Quarter
Net income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$21.33K	USD	1 Quarter
Net income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$101.08K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-50.98K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$79.02K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$16.12K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$49.58K	USD	1 Quarter
Basic and diluted average weighted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.58M	shares	2 Qtrs
Basic and diluted average weighted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.43M	shares	1 Quarter
Basic and diluted average weighted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.43M	shares	2 Qtrs
Basic and diluted average weighted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.58M	shares	1 Quarter
Basic and diluted net loss per share from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	2 Qtrs
Basic and diluted net loss per share from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	2 Qtrs
Basic and diluted net loss per share from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
Basic and diluted net loss per share from continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
Basic and diluted net loss per share from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$0.02	USD	2 Qtrs
Basic and diluted net loss per share from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$0.01	USD	1 Quarter
Basic and diluted net loss per share from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Basic and diluted net loss per share from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	2 Qtrs
Basic and diluted net income (loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted net income (loss) per share	`EarningsPerShareBasicAndDiluted`	$0.01	USD	2 Qtrs
Basic and diluted net income (loss) per share	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Basic and diluted net income (loss) per share	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-50.98K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$79.02K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$16.12K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$49.58K	USD	1 Quarter
Depreciation	`Depreciation`	$8.34K	USD	2 Qtrs
Depreciation	`Depreciation`	$2.08K	USD	2 Qtrs
Bad Debt Expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$4.30K	USD	2 Qtrs
Bad Debt Expense	`AllowanceForLoanAndLeaseLossesRecoveriesOfBadDebts`	$-13.41K	USD	2 Qtrs
Allowance for Estimated Returns	`SalesReturnsAndAllowancesGoods`	$-5.45K	USD	2 Qtrs
Allowance for Estimated Returns	`SalesReturnsAndAllowancesGoods`	-	USD	2 Qtrs
Change in Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-59.49K	USD	2 Qtrs
Change in Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-7.28K	USD	2 Qtrs
Change in Inventory	`IncreaseDecreaseInInventories`	$-14.32K	USD	2 Qtrs
Change in Inventory	`IncreaseDecreaseInInventories`	$-6.79K	USD	2 Qtrs
Change in Other Assets	`IncreaseDecreaseInOtherCurrentAssets`	$-16.54K	USD	2 Qtrs
Change in Other Assets	`IncreaseDecreaseInOtherCurrentAssets`	$-6.29K	USD	2 Qtrs
Change in Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$14.87K	USD	2 Qtrs
Change in Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$20.18K	USD	2 Qtrs
Change in Accounts Payable - Related Party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$19.04K	USD	2 Qtrs
Change in Accounts Payable - Related Party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	2 Qtrs
Change in Other Liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	-	USD	2 Qtrs
Change in Other Liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-33.46K	USD	2 Qtrs
Change in Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$3.91K	USD	2 Qtrs
Change in Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$-15.92K	USD	2 Qtrs
CASH FLOWS PROVIDED BY (USED) IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-83.34K	USD	2 Qtrs
CASH FLOWS PROVIDED BY (USED) IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$5.14K	USD	2 Qtrs
Transfer of cash in sale of subsidiary	`ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries`	-	USD	2 Qtrs
Transfer of cash in sale of subsidiary	`ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries`	$-22.27K	USD	2 Qtrs
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-22.27K	USD	2 Qtrs
CASH FLOWS PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Proceeds from (Payments on) Line-of-Credit	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$15.74K	USD	2 Qtrs
Proceeds from (Payments on) Line-of-Credit	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$-10.00K	USD	2 Qtrs
Proceds on Note Payable from shareholder	`ProceedsFromRelatedPartyDebt`	$20.00K	USD	2 Qtrs
Proceds on 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`	$-1.11K	USD	2 Qtrs
Payments on Notes to Related Parties	`RepaymentsOfRelatedPartyDebt`	$23.02K	USD	2 Qtrs
Payments on Notes to Related Parties	`RepaymentsOfRelatedPartyDebt`	$6.92K	USD	2 Qtrs
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$1.41K	USD	2 Qtrs
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-8.39K	USD	2 Qtrs
NET (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$6.55K	USD	2 Qtrs
NET (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$-114.00K	USD	2 Qtrs
Cash, beginning of period	`Cash`	$116.45K	USD	Point-in-time
Cash, beginning of period	`Cash`	$121.04K	USD	Point-in-time
Cash, end of period	`Cash`	$116.45K	USD	Point-in-time
Cash, end of period	`Cash`	$121.04K	USD	Point-in-time
Interest paid	`InterestPaid`	$1.51K	USD	2 Qtrs
Interest paid	`InterestPaid`	$4.20K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Stock Issued for Services	`StockIssuedDuringPeriodSharesOther`	0.00	shares	2 Qtrs
Stock Issued for Services	`StockIssuedDuringPeriodSharesOther`	0.00	shares	2 Qtrs

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Beginning Balance (Shares)	`CommonStockSharesOutstanding`	5.58M	shares	Point-in-time
Common Stock, Beginning Balance (Shares)	`CommonStockSharesOutstanding`	3.78M	shares	Point-in-time
Common Stock, Beginning Balance (Value)	`CommonStockValue`	$3.78K	USD	Point-in-time
Common Stock, Beginning Balance (Value)	`CommonStockValue`	$5.58K	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$287.91K	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$166.36K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-205.16K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-154.18K	USD	Point-in-time
Shares Issued for Services, Shares	`StockIssuedDuringPeriodSharesOther`	0.00	shares	2 Qtrs
Shares Issued for Services, Shares	`StockIssuedDuringPeriodSharesOther`	0.00	shares	2 Qtrs
Gain on sale of subsidiary	`GainLossOnDispositionOfAssets`	$56.65K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$49.58K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$16.12K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-50.98K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$79.02K	USD	2 Qtrs
Common Stock, Ending Balance (Shares)	`CommonStockSharesOutstanding`	5.58M	shares	Point-in-time
Common Stock, Ending Balance (Shares)	`CommonStockSharesOutstanding`	3.78M	shares	Point-in-time
Common Stock, Ending Balance (Value)	`CommonStockValue`	$3.78K	USD	Point-in-time
Common Stock, Ending Balance (Value)	`CommonStockValue`	$5.58K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-205.16K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-154.18K	USD	Point-in-time
Stockholders' equity (deficit)	`StockholdersEquity`	$139.31K	USD	Point-in-time
Stockholders' equity (deficit)	`StockholdersEquity`	$-35.02K	USD	Point-in-time

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