10-K Filing

INFINITE GROUP INC CIK: 884650 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001654954-16-000251`
Period End Date	20151231
Filing Date	20160414
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	imci-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 30 Cash Flow Statement 50 Stockholders Equity 12

Balance Sheet 68 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`	$13.51K	USD	Point-in-time
Cash	`Cash`	$7.77K	USD	Point-in-time
Cash	`Cash`	$16.95K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.56M	shares	Point-in-time
Accounts receivable, net of allowances of $70,000	`AccountsReceivableNetCurrent`	$117.01K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.56M	shares	Point-in-time
Accounts receivable, net of allowances of $70,000	`AccountsReceivableNetCurrent`	$359.60K	USD	Point-in-time
Prepaid expenses and deferred charges, net	`PrepaidExpenseAndOtherAssetsCurrent`	$34.95K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.56M	shares	Point-in-time
Prepaid expenses and deferred charges, net	`PrepaidExpenseAndOtherAssetsCurrent`	$43.65K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.56M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$165.47K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$411.02K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$39.27K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$60.04K	USD	Point-in-time
Software, net	`CapitalizedComputerSoftwareGross`	$153.00K	USD	Point-in-time
Software, net	`CapitalizedComputerSoftwareGross`	-	USD	Point-in-time
Investment	`OtherInvestments`	-	USD	Point-in-time
Investment	`OtherInvestments`	$109.00K	USD	Point-in-time
Deposits and deferred charges, net	`DepositsAndOtherAssetsNoncurrent`	$36.96K	USD	Point-in-time
Deposits and deferred charges, net	`DepositsAndOtherAssetsNoncurrent`	$19.64K	USD	Point-in-time
Total assets	`Assets`	$617.02K	USD	Point-in-time
Total assets	`Assets`	$377.38K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$501.59K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$341.98K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$148.92K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$192.25K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$503.01K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$583.00K	USD	Point-in-time
Accrued retirement	`PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities`	$208.45K	USD	Point-in-time
Accrued retirement	`PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities`	$216.91K	USD	Point-in-time
Accrued expenses - other	`OtherAccruedLiabilitiesCurrent`	$101.39K	USD	Point-in-time
Accrued expenses - other	`OtherAccruedLiabilitiesCurrent`	$58.89K	USD	Point-in-time
Current maturities of long-term obligations	`LongTermDebtCurrent`	$14.39K	USD	Point-in-time
Current maturities of long-term obligations	`LongTermDebtCurrent`	$262.00K	USD	Point-in-time
Current maturities of long-term obligations- related party	`CurrentMaturitiesOfLongtermObligationsRelatedParty`	$8.17K	USD	Point-in-time
Current maturities of long-term obligations- related party	`CurrentMaturitiesOfLongtermObligationsRelatedParty`	$16.98K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$30.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$72.00K	USD	Point-in-time
Notes payable - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$129.00K	USD	Point-in-time
Notes payable - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$119.78K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.07M	USD	Point-in-time
Banks and other	`OtherLongTermNotesPayable`	$1.51M	USD	Point-in-time
Banks and other	`OtherLongTermNotesPayable`	$1.25M	USD	Point-in-time
Related parties	`NotesPayableRelatedPartiesNoncurrent`	$664.83K	USD	Point-in-time
Related parties	`NotesPayableRelatedPartiesNoncurrent`	$821.35K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.13M	USD	Point-in-time
Commitments (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.001 par value, 60,000,000 shares authorized; 26,561,883 shares issued and outstanding	`CommonStockValue`	$26.56K	USD	Point-in-time
Common stock, $.001 par value, 60,000,000 shares authorized; 26,561,883 shares issued and outstanding	`CommonStockValue`	$26.56K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$30.42M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$30.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-33.45M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.26M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-3.76M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-2.67M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-3.00M	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$377.38K	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$617.02K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$8.57M	USD	Annual
Sales	`SalesRevenueNet`	$7.95M	USD	Annual
Cost of sales	`CostOfServices`	$6.39M	USD	Annual
Cost of sales	`CostOfServices`	$5.99M	USD	Annual
Gross profit	`GrossProfit`	$2.18M	USD	Annual
Gross profit	`GrossProfit`	$1.95M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.52M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.30M	USD	Annual
Selling	`SellingExpense`	$887.45K	USD	Annual
Selling	`SellingExpense`	$930.90K	USD	Annual
Total costs and expenses	`OperatingExpenses`	$2.41M	USD	Annual
Total costs and expenses	`OperatingExpenses`	$2.23M	USD	Annual
Operating(loss) income	`OperatingIncomeLoss`	$-455.34K	USD	Annual
Operating(loss) income	`OperatingIncomeLoss`	$-51.67K	USD	Annual
Loss on investment	`GainLossOnSaleOfEquityInvestments`	$-109.00K	USD	Annual
Loss on investment	`GainLossOnSaleOfEquityInvestments`	$-168.00K	USD	Annual
Related parties	`InterestExpenseRelatedParty`	$48.73K	USD	Annual
Related parties	`InterestExpenseRelatedParty`	$78.40K	USD	Annual
Other	`InterestExpenseOther`	$229.59K	USD	Annual
Other	`InterestExpenseOther`	$168.34K	USD	Annual
Total interest expense	`InterestExpense`	$278.33K	USD	Annual
Total interest expense	`InterestExpense`	$246.74K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-498.00K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-811.08K	USD	Annual
Net (loss) income per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	Annual
Net (loss) income per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	Annual
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.56M	shares	Annual
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.01M	shares	Annual
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.01M	shares	Annual
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.56M	shares	Annual

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-498.00K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-811.08K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$110.34K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$53.85K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$68.90K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$26.49K	USD	Annual
Bad debt expense on note receivable	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Bad debt expense on note receivable	`AmortizationOfDebtDiscountPremium`	$110.00K	USD	Annual
Loss on investment	`GainLossOnSaleOfEquityInvestments`	$-109.00K	USD	Annual
Loss on investment	`GainLossOnSaleOfEquityInvestments`	$-168.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-132.59K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-232.45K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.82K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-8.71K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$159.61K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$25.10K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-146.39K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$165.82K	USD	Annual
Accrued retirement	`IncreaseDecreaseInPensionAndPostretirementObligations`	$8.46K	USD	Annual
Accrued retirement	`IncreaseDecreaseInPensionAndPostretirementObligations`	$8.13K	USD	Annual
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.86K	USD	Annual
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-77.70K	USD	Annual
Purchase of software	`PaymentsToAcquireProductiveAssets`	-	USD	Annual
Purchase of software	`PaymentsToAcquireProductiveAssets`	$100.00K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.81K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.97K	USD	Annual
Investment in equity securities	`PaymentsToAcquireMarketableSecurities`	$30.00K	USD	Annual
Investment in equity securities	`PaymentsToAcquireMarketableSecurities`	-	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-68.97K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-103.81K	USD	Annual
Repayments of notes payable	`RepaymentsOfNotesPayable`	$21.19K	USD	Annual
Repayments of notes payable	`RepaymentsOfNotesPayable`	$52.41K	USD	Annual
Proceeds from note payable - related parties	`ProceedsFromRelatedPartyDebt`	$200.00K	USD	Annual
Proceeds from note payable - related parties	`ProceedsFromRelatedPartyDebt`	$225.00K	USD	Annual
Repayments of notes payable - related parties	`RepaymentsOfRelatedPartyDebt`	$68.90K	USD	Annual
Repayments of notes payable - related parties	`RepaymentsOfRelatedPartyDebt`	$41.32K	USD	Annual
Net cash provided(used)by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$103.70K	USD	Annual
Net cash provided(used)by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$137.49K	USD	Annual
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$5.74K	USD	Annual
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-9.18K	USD	Annual
Cash - beginning of year	`Cash`	$13.51K	USD	Point-in-time
Cash - beginning of year	`Cash`	$7.77K	USD	Point-in-time
Cash - beginning of year	`Cash`	$16.95K	USD	Point-in-time
Cash - end of year	`Cash`	$13.51K	USD	Point-in-time
Cash - end of year	`Cash`	$7.77K	USD	Point-in-time
Cash - end of year	`Cash`	$16.95K	USD	Point-in-time
Interest	`InterestPaid`	$151.59K	USD	Annual
Interest	`InterestPaid`	$234.27K	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	Annual

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-3.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.00M	USD	Point-in-time
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$110.34K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$53.85K	USD	Annual
Shares issued as origination fee	`SharesIssuedAsOriginationFee`	$30.00K	USD	Annual
Stock options issued as origination fee	`StockOptionsIssuedAsOriginationFee`	$23.40K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-498.00K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-811.08K	USD	Annual
Balance	`StockholdersEquity`	$-3.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.00M	USD	Point-in-time

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