S-1/A Filing

INFINITE GROUP INC CIK: 884650

Filing Information

Form Type	S-1/A
Accession Number	`0001654954-22-006127`
Period End Date	20211231
Filing Date	20220505
Fiscal Year	N/A
Fiscal Period	N/A
XBRL Instance	imci_s1a_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 35 Cash Flow Statement 64 Stockholders Equity 13

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Allowances For Accounts Receivable	`AllowanceForDoubtfulAccountsReceivable`	$10.09K	USD	Point-in-time
Allowances For Accounts Receivable	`AllowanceForDoubtfulAccountsReceivable`	$9.71K	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash	`Cash`	$99.43K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Cash	`Cash`	$32.31K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	32.70M	shares	Point-in-time
Accounts Receivable, Net Of Allowances Of $9,710 And $10,089 As Of December 31, 2021 And 2020, Respectively	`AccountsReceivableNetCurrent`	$727.30K	USD	Point-in-time
Accounts Receivable, Net Of Allowances Of $9,710 And $10,089 As Of December 31, 2021 And 2020, Respectively	`AccountsReceivableNetCurrent`	$953.83K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	32.70M	shares	Point-in-time
Prepaid Expenses And Other Current Assets	`PrepaidExpenseAndOtherAssetsCurrent`	$96.48K	USD	Point-in-time
Prepaid Expenses And Other Current Assets	`PrepaidExpenseAndOtherAssetsCurrent`	$218.82K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	29.06M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	29.06M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.08M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.05M	USD	Point-in-time
Right Of Use Asset Operating Lease, Net	`OperatingLeaseRightOfUseAsset`	$120.78K	USD	Point-in-time
Right Of Use Asset Operating Lease, Net	`OperatingLeaseRightOfUseAsset`	$41.49K	USD	Point-in-time
Property And Equipment, Net	`PropertyPlantAndEquipmentNet`	$48.20K	USD	Point-in-time
Property And Equipment, Net	`PropertyPlantAndEquipmentNet`	$41.14K	USD	Point-in-time
Software, Net	`IndefiniteLivedLicenseAgreements`	$354.90K	USD	Point-in-time
Software, Net	`IndefiniteLivedLicenseAgreements`	$417.65K	USD	Point-in-time
Deposits	`DepositsAssets`	$6.94K	USD	Point-in-time
Deposits	`DepositsAssets`	$6.94K	USD	Point-in-time
Total Assets	`Assets`	$1.55M	USD	Point-in-time
Total Assets	`Assets`	$1.61M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$536.86K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$343.07K	USD	Point-in-time
Accrued Payroll	`EmployeeRelatedLiabilitiesCurrent`	$425.84K	USD	Point-in-time
Accrued Payroll	`EmployeeRelatedLiabilitiesCurrent`	$353.27K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrent`	$531.41K	USD	Point-in-time
Accrued Interest Payable	`InterestPayableCurrent`	$594.24K	USD	Point-in-time
Accrued Retirement	`PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities`	$275.42K	USD	Point-in-time
Accrued Retirement	`PensionAndOtherPostretirementDefinedBenefitPlansCurrentLiabilities`	$264.68K	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$497.73K	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$320.04K	USD	Point-in-time
Accrued Expenses Other And Other Current Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$74.58K	USD	Point-in-time
Accrued Expenses Other And Other Current Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$167.31K	USD	Point-in-time
Current Maturities Of Long-term Obligations	`LongTermDebtCurrent`	$765.00K	USD	Point-in-time
Current Maturities Of Long-term Obligations	`LongTermDebtCurrent`	$1.00M	USD	Point-in-time
Operating Lease Liability - Short-term	`OperatingLeaseLiabilityCurrent`	$80.26K	USD	Point-in-time
Operating Lease Liability - Short-term	`OperatingLeaseLiabilityCurrent`	$42.35K	USD	Point-in-time
Current Maturities Of Long-term Obligations - Related Parties	`RelatedPartyLongTermDebtCurrent`	-	USD	Point-in-time
Current Maturities Of Long-term Obligations - Related Parties	`RelatedPartyLongTermDebtCurrent`	$190.00K	USD	Point-in-time
Notes Payable, Net	`NotesPayable`	$383.82K	USD	Point-in-time
Notes Payable, Net	`NotesPayable`	$162.50K	USD	Point-in-time
Notes Payable - Related Parties	`NotesReceivableRelatedParties`	-	USD	Point-in-time
Notes Payable - Related Parties	`NotesReceivableRelatedParties`	$229.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.11M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.13M	USD	Point-in-time
Other	`OtherLongTermNotesPayable`	$458.31K	USD	Point-in-time
Other	`OtherLongTermNotesPayable`	$457.77K	USD	Point-in-time
Related Parties	`NotesPayableRelatedPartiesNoncurrent`	$1.08M	USD	Point-in-time
Related Parties	`NotesPayableRelatedPartiesNoncurrent`	$1.02M	USD	Point-in-time
Payroll Taxes Due 2022	`AccruedPayrollTaxesCurrent`	$69.03K	USD	Point-in-time
Payroll Taxes Due 2022	`AccruedPayrollTaxesCurrent`	-	USD	Point-in-time
Operating Lease Liability - Long-term	`OperatingLeaseLiabilityNoncurrent`	$42.35K	USD	Point-in-time
Operating Lease Liability - Long-term	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.72M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.65M	USD	Point-in-time
Common Stock, $.001 Par Value, 60,000,000 Shares Authorized; Issued And Outstanding: 32,700,883 And 29,061,883 Shares As Of December 31, 2021 And 2020, Respectively.	`CommonStockValue`	$29.06K	USD	Point-in-time
Common Stock, $.001 Par Value, 60,000,000 Shares Authorized; Issued And Outstanding: 32,700,883 And 29,061,883 Shares As Of December 31, 2021 And 2020, Respectively.	`CommonStockValue`	$32.70K	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapitalCommonStock`	$31.34M	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapitalCommonStock`	$30.76M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-33.90M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-35.47M	USD	Point-in-time
Total Stockholders' Deficiency	`StockholdersEquity`	$-3.91M	USD	Point-in-time
Total Stockholders' Deficiency	`StockholdersEquity`	$-4.10M	USD	Point-in-time
Total Stockholders' Deficiency	`StockholdersEquity`	$-3.11M	USD	Point-in-time
Total Liabilities And Stockholders' Deficiency	`LiabilitiesAndStockholdersEquity`	$1.61M	USD	Point-in-time
Total Liabilities And Stockholders' Deficiency	`LiabilitiesAndStockholdersEquity`	$1.55M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$7.22M	USD	Annual
Sales	`Revenues`	$7.22M	USD	Annual
Cost Of Sales	`CostOfRevenue`	$4.49M	USD	Annual
Cost Of Sales	`CostOfRevenue`	$4.18M	USD	Annual
Gross Profit	`GrossProfit`	$2.73M	USD	Annual
Gross Profit	`GrossProfit`	$3.04M	USD	Annual
General And Administrative	`GeneralAndAdministrativeExpense`	$1.70M	USD	Annual
General And Administrative	`GeneralAndAdministrativeExpense`	$2.16M	USD	Annual
Selling	`SellingExpense`	$1.98M	USD	Annual
Selling	`SellingExpense`	$1.34M	USD	Annual
Total Costs And Expenses	`OperatingExpenses`	$3.04M	USD	Annual
Total Costs And Expenses	`OperatingExpenses`	$4.14M	USD	Annual
Operating Income (loss)	`OperatingIncomeLoss`	$-1.41M	USD	Annual
Operating Income (loss)	`OperatingIncomeLoss`	$1.29K	USD	Annual
Other Income - (see Note 6 & Note 7)	`OtherIncome`	$120.50K	USD	Annual
Other Income - (see Note 6 & Note 7)	`OtherIncome`	$967.01K	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$786.00	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$37.00	USD	Annual
Related Parties	`InterestExpenseRelatedParty`	$72.45K	USD	Annual
Related Parties	`InterestExpenseRelatedParty`	$62.79K	USD	Annual
Other	`InterestExpenseOther`	$209.33K	USD	Annual
Other	`InterestExpenseOther`	$230.30K	USD	Annual
Total Interest Expense	`InterestExpense`	$293.09K	USD	Annual
Total Interest Expense	`InterestExpense`	$52.90K	USD	Point-in-time
Total Interest Expense	`InterestExpense`	$281.79K	USD	Annual
Total Interest Expense	`InterestExpense`	$15.45K	USD	Point-in-time
Total Interest Expense	`InterestExpense`	$14.25K	USD	Annual
Net Income (loss)	`NetIncomeLoss`	$676.00K	USD	Annual
Net Income (loss)	`NetIncomeLoss`	$-1.57M	USD	Annual
Net Income (loss) Per Share Basic And Diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	Annual
Net Income (loss) Per Share Basic And Diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	Annual
Weighted Average Shares Outstanding Basic	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.06M	shares	Annual
Weighted Average Shares Outstanding Basic	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.12M	shares	Annual
Weighted Average Shares Outstanding Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	30.12M	shares	Annual
Weighted Average Shares Outstanding Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	43.45M	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss`	$676.00K	USD	Annual
Net Income (loss)	`NetIncomeLoss`	$-1.57M	USD	Annual
Stock Based Compensation	`ShareBasedCompensation`	$117.59K	USD	Annual
Stock Based Compensation	`ShareBasedCompensation`	$125.54K	USD	Annual
Depreciation And Amortization	`DepreciationAndAmortization`	$97.87K	USD	Annual
Depreciation And Amortization	`DepreciationAndAmortization`	$186.38K	USD	Annual
Amortization Of Debt Discount	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Amortization Of Debt Discount	`AmortizationOfDebtDiscountPremium`	$51.89K	USD	Annual
Bad Debt Expense	`AllowanceForLoanAndLeaseLossRecoveryOfBadDebts`	$7.00K	USD	Annual
Bad Debt Expense	`AllowanceForLoanAndLeaseLossRecoveryOfBadDebts`	$9.00K	USD	Annual
Forgiveness Of Note Payable And Interest	`ForgivenessOfNotePayableAndInterest`	$-120.50K	USD	Annual
Forgiveness Of Note Payable And Interest	`ForgivenessOfNotePayableAndInterest`	$-963.52K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$217.53K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-528.54K	USD	Annual
Prepaid Expenses And Other Current Assets	`IncreaseDecreaseInPrepaidExpensesOther`	$-31.20K	USD	Annual
Prepaid Expenses And Other Current Assets	`IncreaseDecreaseInPrepaidExpensesOther`	$-64.21K	USD	Annual
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$125.30K	USD	Annual
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$193.79K	USD	Annual
Deferred Revenue	`IncreaseDecreaseInDeferredRevenue`	$177.69K	USD	Annual
Deferred Revenue	`IncreaseDecreaseInDeferredRevenue`	$141.22K	USD	Annual
Accrued Expenses And Other Current Liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-63.43K	USD	Annual
Accrued Expenses And Other Current Liabilities	`IncreaseDecreaseInAccruedLiabilities`	$254.85K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-544.82K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-413.75K	USD	Annual
Purchases Of Property And Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$48.31K	USD	Annual
Purchases Of Property And Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.51K	USD	Annual
Capitalization Of Software Development Costs	`PaymentsToDevelopSoftware`	$229.53K	USD	Annual
Capitalization Of Software Development Costs	`PaymentsToDevelopSoftware`	$255.23K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-303.54K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-243.03K	USD	Annual
Proceeds From Note Payable	`ProceedsFromNotesPayable`	$403.20K	USD	Annual
Proceeds From Note Payable	`ProceedsFromNotesPayable`	$957.37K	USD	Annual
Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	$25.16K	USD	Annual
Proceeds From Notes Payable - Related Parties	`ProceedsFromRelatedPartyDebt`	$578.00K	USD	Annual
Proceeds From Notes Payable - Related Parties	`ProceedsFromRelatedPartyDebt`	$50.00K	USD	Annual
Repayments Of Notes Payable - Related Parties	`RepaymentsOfRelatedPartyDebt`	$96.64K	USD	Annual
Repayments Of Notes Payable - Related Parties	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Repayments Of Note Payable - Short-term	`RepaymentsOfNotesPayable`	-	USD	Annual
Repayments Of Note Payable - Short-term	`RepaymentsOfNotesPayable`	$167.53K	USD	Annual
Repayment Of Long-term Obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$200.00K	USD	Annual
Repayment Of Long-term Obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	Annual
Proceeds From The Exercise Of Common Stock Options	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Proceeds From The Exercise Of Common Stock Options	`ProceedsFromStockOptionsExercised`	$98.93K	USD	Annual
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$743.21K	USD	Annual
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$854.97K	USD	Annual
Net Increase In Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$25.91K	USD	Annual
Net Increase In Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$67.12K	USD	Annual
Cash - Beginning Of Year	`CashAndCashEquivalentsAtCarryingValue`	$6.40K	USD	Point-in-time
Cash - Beginning Of Year	`CashAndCashEquivalentsAtCarryingValue`	$99.43K	USD	Point-in-time
Cash - Beginning Of Year	`CashAndCashEquivalentsAtCarryingValue`	$32.31K	USD	Point-in-time
Cash - End Of Year	`CashAndCashEquivalentsAtCarryingValue`	$6.40K	USD	Point-in-time
Cash - End Of Year	`CashAndCashEquivalentsAtCarryingValue`	$99.43K	USD	Point-in-time
Cash - End Of Year	`CashAndCashEquivalentsAtCarryingValue`	$32.31K	USD	Point-in-time
Interest	`InterestIncomeExpenseNet`	$346.33K	USD	Annual
Interest	`InterestIncomeExpenseNet`	$84.20K	USD	Annual
Income Taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income Taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Warrant Issued In Conjunction With Debts	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	-	USD	Annual
Warrant Issued In Conjunction With Debts	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$202.05K	USD	Annual
Common Stock Issued To Extinguish Debt	`StockIssuedDuringPeriodSharesShareBasedCompensation`	100,000.00	shares	Annual
Common Stock Issued To Extinguish Debt	`StockIssuedDuringPeriodSharesShareBasedCompensation`	0.00	shares	Annual
Common Stock Issued For Prepaid Consulting Agreement	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	Annual
Common Stock Issued For Prepaid Consulting Agreement	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$58.12K	USD	Annual

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance, Amount	`StockholdersEquity`	$-3.91M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-4.10M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-3.11M	USD	Point-in-time
Stock Based Compensation, Amount	`ShareBasedCompensation`	$117.59K	USD	Annual
Stock Based Compensation, Amount	`ShareBasedCompensation`	$125.54K	USD	Annual
Net Income, Amount	`NetIncomeLoss`	$676.00K	USD	Annual
Net Income, Amount	`NetIncomeLoss`	$-1.57M	USD	Annual
Issuance Of Common Stock, Amount	`IssuanceOfCommonStockAmount`	$158.12K	USD	Annual
Exercise Of Stock Options, Amount	`ExerciseOfStockOptionsAmount`	$98.93K	USD	Annual
Warrants Issued, Amount	`ProceedsFromIssuanceOfWarrants`	$202.05K	USD	Annual
Balance, Amount	`StockholdersEquity`	$-3.91M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-4.10M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-3.11M	USD	Point-in-time

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