10-K Filing

INFINITE GROUP INC CIK: 884650 FY 2013

Filing Information

Form Type	10-K
Accession Number	`0001144204-14-019206`
Period End Date	20131231
Filing Date	20140331
Fiscal Year	2013
Fiscal Period	FY
XBRL Instance	imci-20131231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 32 Cash Flow Statement 46 Stockholders Equity 10

Balance Sheet 64 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
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
Cash	`Cash`	$16.95K	USD	Point-in-time
Cash	`Cash`	$36.89K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Cash	`Cash`	$56.16K	USD	Point-in-time
Accounts receivable, net of allowances of $70,000	`AccountsReceivableNetCurrent`	$585.32K	USD	Point-in-time
Accounts receivable, net of allowances of $70,000	`AccountsReceivableNetCurrent`	$592.04K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.96M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.96M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.96M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$22.51K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.96M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$22.13K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$631.50K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$663.61K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$38.06K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$46.12K	USD	Point-in-time
Investment in equity securities	`OtherInvestments`	-	USD	Point-in-time
Investment in equity securities	`OtherInvestments`	$247.00K	USD	Point-in-time
Deposits and other assets	`DepositsAndOtherAssetsNoncurrent`	$2.32K	USD	Point-in-time
Deposits and other assets	`DepositsAndOtherAssetsNoncurrent`	$4.32K	USD	Point-in-time
Total assets	`Assets`	$926.94K	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`	$316.87K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$356.16K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$364.12K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$451.16K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$408.80K	USD	Point-in-time
Accrued retirement and pension	`PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities`	$200.32K	USD	Point-in-time
Accrued retirement and pension	`PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities`	$220.78K	USD	Point-in-time
Accrued expenses - other	`OtherAccruedLiabilitiesCurrent`	$41.93K	USD	Point-in-time
Accrued expenses - other	`OtherAccruedLiabilitiesCurrent`	$60.02K	USD	Point-in-time
Current maturities of long-term obligations	`LongTermDebtCurrent`	$22.87K	USD	Point-in-time
Current maturities of long-term obligations	`LongTermDebtCurrent`	$21.19K	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`	$142.00K	USD	Point-in-time
Notes payable - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$149.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.57M	USD	Point-in-time
Banks and other	`OtherLongTermNotesPayable`	$1.54M	USD	Point-in-time
Banks and other	`OtherLongTermNotesPayable`	$1.52M	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`	$3.57M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.59M	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 shares issued and outstanding	`CommonStockValue`	$25.96K	USD	Point-in-time
Common stock, $.001 par value, 60,000,000 shares authorized; 25,961,883 shares issued and outstanding	`CommonStockValue`	$25.96K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$30.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$30.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-33.06M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-32.95M	USD	Point-in-time
Total stockholders deficiency	`StockholdersEquity`	$-3.23M	USD	Point-in-time
Total stockholders deficiency	`StockholdersEquity`	$-2.67M	USD	Point-in-time
Total stockholders deficiency	`StockholdersEquity`	$-2.87M	USD	Point-in-time
Total liabilities and stockholders deficiency	`LiabilitiesAndStockholdersEquity`	$926.94K	USD	Point-in-time
Total liabilities and stockholders deficiency	`LiabilitiesAndStockholdersEquity`	$705.99K	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$8.73M	USD	Annual
Sales	`SalesRevenueNet`	$8.71M	USD	Annual
Cost of services	`CostOfServices`	$6.38M	USD	Annual
Cost of services	`CostOfServices`	$6.38M	USD	Annual
Gross profit	`GrossProfit`	$2.33M	USD	Annual
Gross profit	`GrossProfit`	$2.35M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.12M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.02M	USD	Annual
Selling	`SellingExpense`	$1.12M	USD	Annual
Selling	`SellingExpense`	$865.66K	USD	Annual
Defined benefit pension plan	`PensionExpense`	-	USD	Annual
Defined benefit pension plan	`PensionExpense`	$-480.00K	USD	Annual
Total costs and expenses	`OperatingExpenses`	$1.89M	USD	Annual
Total costs and expenses	`OperatingExpenses`	$1.76M	USD	Annual
Operating income	`OperatingIncomeLoss`	$440.63K	USD	Annual
Operating income	`OperatingIncomeLoss`	$591.85K	USD	Annual
Loss on equity investment	`GainLossOnSaleOfEquityInvestments`	-	USD	Annual
Loss on equity investment	`GainLossOnSaleOfEquityInvestments`	$-23.00K	USD	Annual
Related parties	`InterestExpenseRelatedParty`	$52.38K	USD	Annual
Related parties	`InterestExpenseRelatedParty`	$46.82K	USD	Annual
Other	`InterestExpenseOther`	$268.27K	USD	Annual
Other	`InterestExpenseOther`	$262.31K	USD	Annual
Total interest expense	`InterestExpense`	$320.66K	USD	Annual
Total interest expense	`InterestExpense`	$309.13K	USD	Annual
Net income	`NetIncomeLoss`	$271.20K	USD	Annual
Net income	`NetIncomeLoss`	$108.50K	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`	25.96M	shares	Annual
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	46.36M	shares	Annual
Weighted average shares outstanding - diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	47.56M	shares	Annual

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$271.20K	USD	Annual
Net income	`NetIncomeLoss`	$108.50K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$94.70K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$85.62K	USD	Annual
Reduction of accrued retirement and pension	`PensionAndOtherPostretirementBenefitExpense`	$-480.00K	USD	Annual
Reduction of accrued retirement and pension	`PensionAndOtherPostretirementBenefitExpense`	-	USD	Annual
Depreciation	`Depreciation`	$28.34K	USD	Annual
Depreciation	`Depreciation`	$21.07K	USD	Annual
Loss on equity investment	`GainLossOnSaleOfEquityInvestments`	-	USD	Annual
Loss on equity investment	`GainLossOnSaleOfEquityInvestments`	$-23.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$120.89K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-438.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.61K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-10.68K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-285.96K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$35.86K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.96K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$32.23K	USD	Annual
Accrued pension obligations	`IncreaseDecreaseInPensionAndPostretirementObligations`	$-20.47K	USD	Annual
Accrued pension obligations	`IncreaseDecreaseInPensionAndPostretirementObligations`	$41.13K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$175.62K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$110.97K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.52K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.13K	USD	Annual
Investment in equity securities	`PaymentsToAcquireMarketableSecurities`	-	USD	Annual
Investment in equity securities	`PaymentsToAcquireMarketableSecurities`	$155.83K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.52K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-184.97K	USD	Annual
Repayments of notes payable	`RepaymentsOfNotesPayable`	$33.19K	USD	Annual
Repayments of notes payable	`RepaymentsOfNotesPayable`	$22.87K	USD	Annual
Repayments of notes payable - related parties	`RepaymentsOfRelatedPartyDebt`	$48.00K	USD	Annual
Repayments of notes payable - related parties	`RepaymentsOfRelatedPartyDebt`	$7.00K	USD	Annual
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-29.87K	USD	Annual
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-81.19K	USD	Annual
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$19.26K	USD	Annual
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-39.21K	USD	Annual
Cash - beginning of year	`Cash`	$16.95K	USD	Point-in-time
Cash - beginning of year	`Cash`	$36.89K	USD	Point-in-time
Cash - beginning of year	`Cash`	$56.16K	USD	Point-in-time
Cash - end of year	`Cash`	$16.95K	USD	Point-in-time
Cash - end of year	`Cash`	$36.89K	USD	Point-in-time
Cash - end of year	`Cash`	$56.16K	USD	Point-in-time
Interest	`InterestPaid`	$264.42K	USD	Annual
Interest	`InterestPaid`	$315.17K	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	Annual

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-3.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.87M	USD	Point-in-time
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$94.70K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$85.62K	USD	Annual
Net income	`NetIncomeLoss`	$271.20K	USD	Annual
Net income	`NetIncomeLoss`	$108.50K	USD	Annual
Balance	`StockholdersEquity`	$-3.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.87M	USD	Point-in-time

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