10-Q Filing

RESEARCH SOLUTIONS, INC. CIK: 1386301 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001144204-12-061184`
Period End Date	20120930
Filing Date	20121113
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	dysc-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 34 Cash Flow Statement 66 Stockholders Equity 10

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Trade receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$193.83K	USD	Point-in-time
Trade receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$163.46K	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.37M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.48M	USD	Point-in-time
Intangible Assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$189.78K	USD	Point-in-time
Intangible Assets, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$254.22K	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.18M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.15M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.05M	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Trade receivables, net of allowance of $193,831 and $163,455 , respectively	`AccountsReceivableNetCurrent`	$5.81M	USD	Point-in-time
Trade receivables, net of allowance of $193,831 and $163,455 , respectively	`AccountsReceivableNetCurrent`	$6.10M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.09M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.07M	shares	Point-in-time
Due from factor	`OtherReceivablesNetCurrent`	$197.04K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17,844.00	shares	Point-in-time
Due from factor	`OtherReceivablesNetCurrent`	$53.33K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.09M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.07M	shares	Point-in-time
Inventory	`InventoryNet`	$292.59K	USD	Point-in-time
Inventory	`InventoryNet`	$363.64K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$157.14K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$336.64K	USD	Point-in-time
Prepaid royalties	`PrepaidRoyalties`	$415.34K	USD	Point-in-time
Prepaid royalties	`PrepaidRoyalties`	$72.88K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$18.08K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$25.56K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.76M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $1,477,432 and $1,369,782 , respectively	`PropertyPlantAndEquipmentNet`	$1.29M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $1,477,432 and $1,369,782 , respectively	`PropertyPlantAndEquipmentNet`	$1.20M	USD	Point-in-time
Intangible Assets, net of accumulated amortization of $254,217 and $189,783 , respectively	`FiniteLivedIntangibleAssetsNet`	$65.51K	USD	Point-in-time
Intangible Assets, net of accumulated amortization of $254,217 and $189,783 , respectively	`FiniteLivedIntangibleAssetsNet`	$1.08K	USD	Point-in-time
Deposits and other assets	`DepositsAndOtherAssetsNoncurrent`	$238.67K	USD	Point-in-time
Deposits and other assets	`DepositsAndOtherAssetsNoncurrent`	$244.20K	USD	Point-in-time
Total assets	`Assets`	$10.21M	USD	Point-in-time
Total assets	`Assets`	$12.01M	USD	Point-in-time
Accounts payable and accrued expenses	`AccuredExpensesOtherCurrentLiablities`	$8.76M	USD	Point-in-time
Accounts payable and accrued expenses	`AccuredExpensesOtherCurrentLiablities`	$9.55M	USD	Point-in-time
Capital lease obligation, current	`CapitalLeaseObligationsCurrent`	$655.19K	USD	Point-in-time
Capital lease obligation, current	`CapitalLeaseObligationsCurrent`	$640.12K	USD	Point-in-time
Notes payable, current	`NotesPayableCurrent`	$54.65K	USD	Point-in-time
Notes payable, current	`NotesPayableCurrent`	$53.45K	USD	Point-in-time
Due to factor	`DueToFactorCurrent`	$256.64K	USD	Point-in-time
Due to factor	`DueToFactorCurrent`	$197.09K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$250.00K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$1.00M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$68.90K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$59.05K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.97M	USD	Point-in-time
Notes payable, long term	`LongTermNotesPayable`	$53.45K	USD	Point-in-time
Notes payable, long term	`LongTermNotesPayable`	$43.72K	USD	Point-in-time
Capital lease obligation, long term	`CapitalLeaseObligationsNoncurrent`	$665.27K	USD	Point-in-time
Capital lease obligation, long term	`CapitalLeaseObligationsNoncurrent`	$813.17K	USD	Point-in-time
Total liabilities	`Liabilities`	$12.44M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.68M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock; $0.001 par value; 20,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; $0.001 par value; 20,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.001 par value; 100,000,000 shares authorized; 17,087,281 and 17,069,437 shares issued and outstanding, respectively	`CommonStockValue`	$17.09K	USD	Point-in-time
Common stock; $0.001 par value; 100,000,000 shares authorized; 17,087,281 and 17,069,437 shares issued and outstanding, respectively	`CommonStockValue`	$17.07K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$33.01K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$60.65K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$13.71M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$13.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-14.24M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-474.07K	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-434.56K	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$12.01M	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$10.21M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$9.54M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$9.86M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$8.39M	USD	1 Quarter
Cost of revenue	`CostOfGoodsSold`	$7.39M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.47M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.16M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.63M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.99M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$486.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$186.66K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.18M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.11M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-20.52K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.64M	USD	1 Quarter
Gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$6.88K	USD	1 Quarter
Gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$-36.84K	USD	1 Quarter
Interest expense	`InterestExpense`	$-51.69K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$1.10K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-2.96K	USD	1 Quarter
Loss before provision for income taxes	`NetIncomeLossBeofeTaxIncludingPortionAttributableToNoncontrollingInterest`	$-1.69M	USD	1 Quarter
Loss before provision for income taxes	`NetIncomeLossBeofeTaxIncludingPortionAttributableToNoncontrollingInterest`	$-53.44K	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	$-593.00	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.69M	USD	1 Quarter
Net loss	`ProfitLoss`	$-54.03K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$19.60K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-27.65K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.67M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-81.68K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.98M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.08M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-54.03K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$199.60K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$505.11K	USD	1 Quarter
Fair value of vested stock options	`StockOptionPlanExpense`	$42.17K	USD	1 Quarter
Fair value of vested stock options	`StockOptionPlanExpense`	$37.08K	USD	1 Quarter
Fair value of warrants issued for services, net of adjustment	`OtherNoncashIncomeExpense`	$398.90K	USD	1 Quarter
Fair value of warrants issued for services, net of adjustment	`OtherNoncashIncomeExpense`	-	USD	1 Quarter
Fair value of warrant extensions	`AdjustmentOfWarrantsGrantedForServices`	$264.71K	USD	1 Quarter
Fair value of warrant extensions	`AdjustmentOfWarrantsGrantedForServices`	-	USD	1 Quarter
Gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$6.88K	USD	1 Quarter
Gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$163.79K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-291.16K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-71.05K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-201.94K	USD	1 Quarter
Due from factor	`IncreaseDecreaseInOtherReceivables`	$-143.71K	USD	1 Quarter
Due from factor	`IncreaseDecreaseInOtherReceivables`	$-215.30K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$179.50K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-55.31K	USD	1 Quarter
Prepaid royalties	`IncreaseDecreaseInPrepaidRoyalties`	$-342.46K	USD	1 Quarter
Prepaid royalties	`IncreaseDecreaseInPrepaidRoyalties`	$-524.29K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-27.16K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.94K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-796.20K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.39M	USD	1 Quarter
Deferred revenue and other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-141.43K	USD	1 Quarter
Deferred revenue and other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-9.85K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$41.75K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$821.60K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.68K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$35.46K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$27.84K	USD	1 Quarter
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$16.36K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.11K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-58.52K	USD	1 Quarter
Advances (payments) to factor	`PaymentsToFactor`	$-7.00K	USD	1 Quarter
Advances (payments) to factor	`PaymentsToFactor`	$59.55K	USD	1 Quarter
Payment of notes payable	`RepaymentsOfNotesPayable`	$13.09K	USD	1 Quarter
Payment of notes payable	`RepaymentsOfNotesPayable`	$8.54K	USD	1 Quarter
Payment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$132.84K	USD	1 Quarter
Payment of capital lease obligation	`RepaymentsOfLongTermCapitalLeaseObligations`	$258.20K	USD	1 Quarter
Payment of related parties	`RepaymentsOfRelatedPartyDebt`	$51.53K	USD	1 Quarter
Payment of related parties	`RepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Payments under line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-750.00K	USD	1 Quarter
Payments under line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-354.23K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-670.03K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-950.92K	USD	1 Quarter
Effect of exchange rate changes	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-47.26K	USD	1 Quarter
Effect of exchange rate changes	`EffectOfExchangeRateOnCashAndCashEquivalents`	$83.96K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$177.01K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-975.54K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.18M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.87M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.15M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.05M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.18M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.87M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.15M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.05M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$593.00	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$51.69K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$36.84K	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-474.07K	USD	Point-in-time
Balance	`StockholdersEquity`	$-434.56K	USD	Point-in-time
Fair value of options issued to employees	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$42.17K	USD	1 Quarter
Common shares issued upon exercise of stock options	`SharesIssuedDuringPeriodExerciseOfWarrants`	-	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-1.69M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-54.03K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$19.60K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-27.65K	USD	1 Quarter
Balance	`StockholdersEquity`	$-474.07K	USD	Point-in-time
Balance	`StockholdersEquity`	$-434.56K	USD	Point-in-time

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