10-K Filing

INFINITE GROUP INC CIK: 884650 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001144204-13-018513`
Period End Date	20121231
Filing Date	20130329
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	imci-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 34 Cash Flow Statement 48 Stockholders Equity 13

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowances for accounts receivable (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$70.00K	USD	Point-in-time
Allowances for accounts receivable (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$70.00K	USD	Point-in-time
Cash	`Cash`	$56.16K	USD	Point-in-time
Cash	`Cash`	$33.16K	USD	Point-in-time
Cash	`Cash`	$36.89K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Accounts receivable, net of allowances of $70,000	`AccountsReceivableNetCurrent`	$585.32K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Accounts receivable, net of allowances of $70,000	`AccountsReceivableNetCurrent`	$1.02M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$22.13K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.96M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$21.20K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.96M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$663.61K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.96M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.96M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.08M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$46.70K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$38.06K	USD	Point-in-time
Deposits and other assets	`DepositsAndOtherAssetsNoncurrent`	$4.32K	USD	Point-in-time
Deposits and other assets	`DepositsAndOtherAssetsNoncurrent`	$15.92K	USD	Point-in-time
Total assets	`Assets`	$1.14M	USD	Point-in-time
Total assets	`Assets`	$705.99K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$281.02K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$566.98K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$356.16K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$379.67K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$408.80K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$403.39K	USD	Point-in-time
Accrued retirement and pension	`PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities`	$659.65K	USD	Point-in-time
Accrued retirement and pension	`PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities`	$220.78K	USD	Point-in-time
Accrued expenses - other	`OtherAccruedLiabilitiesCurrent`	$60.02K	USD	Point-in-time
Accrued expenses - other	`OtherAccruedLiabilitiesCurrent`	$39.97K	USD	Point-in-time
Current maturities of long-term obligations	`LongTermDebtCurrent`	$22.87K	USD	Point-in-time
Current maturities of long-term obligations	`LongTermDebtCurrent`	$32.36K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$30.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$30.00K	USD	Point-in-time
Notes payable - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$149.00K	USD	Point-in-time
Notes payable - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$197.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.53M	USD	Point-in-time
Banks and other	`OtherLongTermNotesPayable`	$1.56M	USD	Point-in-time
Banks and other	`OtherLongTermNotesPayable`	$1.54M	USD	Point-in-time
Related parties	`NotesPayableRelatedPartiesNoncurrent`	$501.32K	USD	Point-in-time
Related parties	`NotesPayableRelatedPartiesNoncurrent`	$501.32K	USD	Point-in-time
Total liabilities	`Liabilities`	$4.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.57M	USD	Point-in-time
Commitments and contingencies (Notes 10 and 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 10 and 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.001 par value, 60,000,000 shares authorized; 25,961,883 (25,961,883 - 2011) shares issued and outstanding	`CommonStockValue`	$25.96K	USD	Point-in-time
Common stock, $.001 par value, 60,000,000 shares authorized; 25,961,883 (25,961,883 - 2011) shares issued and outstanding	`CommonStockValue`	$25.96K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$30.08M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$30.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-33.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-33.06M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.87M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-3.23M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-6.24M	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$705.99K	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$1.14M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$8.73M	USD	Annual
Sales	`SalesRevenueNet`	$9.16M	USD	Annual
Cost of services	`CostOfServices`	$6.38M	USD	Annual
Cost of services	`CostOfServices`	$6.60M	USD	Annual
Gross profit	`GrossProfit`	$2.35M	USD	Annual
Gross profit	`GrossProfit`	$2.56M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.12M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$897.29K	USD	Annual
Defined benefit pension plan	`PensionExpense`	$-480.00K	USD	Annual
Defined benefit pension plan	`PensionExpense`	$103.82K	USD	Annual
Selling	`SellingExpense`	$1.12M	USD	Annual
Selling	`SellingExpense`	$1.25M	USD	Annual
Total costs and expenses	`OperatingExpenses`	$2.25M	USD	Annual
Total costs and expenses	`OperatingExpenses`	$1.76M	USD	Annual
Operating income	`OperatingIncomeLoss`	$311.19K	USD	Annual
Operating income	`OperatingIncomeLoss`	$591.85K	USD	Annual
Related parties	`InterestExpenseRelatedParty`	$52.38K	USD	Annual
Related parties	`InterestExpenseRelatedParty`	$52.82K	USD	Annual
Other	`InterestExpenseOther`	$268.27K	USD	Annual
Other	`InterestExpenseOther`	$238.79K	USD	Annual
Total interest expense	`InterestExpense`	$320.66K	USD	Annual
Total interest expense	`InterestExpense`	$291.61K	USD	Annual
Net income	`NetIncomeLoss`	$271.20K	USD	Annual
Net income	`NetIncomeLoss`	$19.58K	USD	Annual
Retirement benefit adjustment	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$2.96M	USD	Annual
Retirement benefit adjustment	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	-	USD	Annual
Comprehensive income	`OtherComprehensiveIncomeLossTax`	$271.20K	USD	Annual
Comprehensive income	`OtherComprehensiveIncomeLossTax`	$2.98M	USD	Annual
Net income per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.01	USD	Annual
Net income per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	25.96M	shares	Annual
Weighted average shares outstanding - basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	26.36M	shares	Annual
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.56M	shares	Annual
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.09M	shares	Annual

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$271.20K	USD	Annual
Net income	`NetIncomeLoss`	$19.58K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$103.91K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$85.62K	USD	Annual
Reduction of accrued retirement and pension	`PensionAndOtherPostretirementBenefitExpense`	$-294.44K	USD	Annual
Reduction of accrued retirement and pension	`PensionAndOtherPostretirementBenefitExpense`	$-480.00K	USD	Annual
Depreciation	`Depreciation`	$28.34K	USD	Annual
Depreciation	`Depreciation`	$31.52K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-314.02K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$438.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$10.68K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-3.31K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-285.96K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-85.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$171.93K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.96K	USD	Annual
Accrued pension obligations	`IncreaseDecreaseInPensionAndPostretirementObligations`	$41.13K	USD	Annual
Accrued pension obligations	`IncreaseDecreaseInPensionAndPostretirementObligations`	$364.53K	USD	Annual
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.29K	USD	Annual
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$110.97K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.02K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.52K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.02K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.52K	USD	Annual
Repayments of notes payable	`RepaymentsOfNotesPayable`	$33.19K	USD	Annual
Repayments of notes payable	`RepaymentsOfNotesPayable`	$28.95K	USD	Annual
Repayments of notes payable - related parties	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Repayments of notes payable - related parties	`RepaymentsOfRelatedPartyDebt`	$48.00K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$100.00K	USD	Annual
Proceeds from notes payable - related parties	`ProceedsFromRelatedPartyDebt`	$23.00K	USD	Annual
Proceeds from notes payable - related parties	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Repurchase of shares of common stock	`PaymentsForRepurchaseOfCommonStock`	$75.00K	USD	Annual
Repurchase of shares of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$19.05K	USD	Annual
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-81.19K	USD	Annual
Net increase in cash	`CashPeriodIncreaseDecrease`	$3.74K	USD	Annual
Net increase in cash	`CashPeriodIncreaseDecrease`	$19.26K	USD	Annual
Cash - beginning of year	`Cash`	$56.16K	USD	Point-in-time
Cash - beginning of year	`Cash`	$33.16K	USD	Point-in-time
Cash - beginning of year	`Cash`	$36.89K	USD	Point-in-time
Cash - end of year	`Cash`	$56.16K	USD	Point-in-time
Cash - end of year	`Cash`	$33.16K	USD	Point-in-time
Cash - end of year	`Cash`	$36.89K	USD	Point-in-time
Interest	`InterestPaid`	$198.86K	USD	Annual
Interest	`InterestPaid`	$315.17K	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	Annual

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-2.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$-6.24M	USD	Point-in-time
Shares of common stock repurchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$75.00K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$103.91K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$85.62K	USD	Annual
Net income	`NetIncomeLoss`	$271.20K	USD	Annual
Net income	`NetIncomeLoss`	$19.58K	USD	Annual
Retirement benefit adjustment	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$2.96M	USD	Annual
Retirement benefit adjustment	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	-	USD	Annual
Balance	`StockholdersEquity`	$-2.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$-6.24M	USD	Point-in-time

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