2012 Form 10-K Financial Statement

#000135448813001671 Filed on April 01, 2013

View on sec.gov

Income Statement

Concept 2012 2011 Q4 2011
Revenue $16.40M $3.370M $15.52M
YoY Change 5.68% 29.62% 35.04%
Cost Of Revenue $11.13M $2.130M $9.663M
YoY Change 15.16% 22.41% 37.68%
Gross Profit $5.272M $1.240M $5.855M
YoY Change -9.96% 44.19% 30.9%
Gross Profit Margin 32.15% 36.8% 37.73%
Selling, General & Admin $5.120M $1.200M $4.370M
YoY Change 17.16% 15.38% 14.4%
% of Gross Profit 97.11% 96.77% 74.63%
Research & Development $68.25K $20.00K $73.20K
YoY Change -6.76% 3.11%
% of Gross Profit 1.29% 1.61% 1.25%
Depreciation & Amortization $1.245M $80.00K $330.9K
YoY Change 276.24% -11.11% -7.25%
% of Gross Profit 23.62% 6.45% 5.65%
Operating Expenses $5.306M $1.220M $4.547M
YoY Change 16.7% 17.31% 14.45%
Operating Profit -$34.07K $20.00K $1.308M
YoY Change -102.6% -111.11% 161.64%
Interest Expense $128.4K -$10.00K $95.75K
YoY Change 34.11% -66.67% 24.0%
% of Operating Profit -50.0% 7.32%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$31.09K $10.00K $1.309M
YoY Change -102.38% -104.55% 161.67%
Income Tax $1.126M $260.0K $1.146M
% Of Pretax Income 2600.0% 87.54%
Net Earnings -$1.084M -$260.0K $183.0K
YoY Change -692.63% -38.1% -196.27%
Net Earnings / Revenue -6.61% -7.72% 1.18%
Basic Earnings Per Share -$0.08 $0.01
Diluted Earnings Per Share -$0.08 -$19.76K $0.01
COMMON SHARES
Basic Shares Outstanding 13.17M shares 13.17M shares 13.27M shares
Diluted Shares Outstanding 13.17M shares 13.48M shares

Balance Sheet

Concept 2012 2011 Q4 2011
SHORT-TERM ASSETS
Cash & Short-Term Investments $360.0K $510.0K $510.0K
YoY Change -29.41% -81.52% -81.52%
Cash & Equivalents $360.0K $506.9K $510.0K
Short-Term Investments
Other Short-Term Assets $130.0K $140.0K $140.0K
YoY Change -7.14% -26.32% -26.32%
Inventory $3.360M $2.891M $2.890M
Prepaid Expenses $135.4K
Receivables $2.200M $2.332M $2.330M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.050M $5.865M $5.860M
YoY Change 3.24% -12.38% -12.41%
LONG-TERM ASSETS
Property, Plant & Equipment $7.190M $8.206M $8.210M
YoY Change -12.42% 4.29% 4.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.00K $10.00K $10.00K
YoY Change 0.0% 0.0% 0.0%
Other Assets $290.0K $220.0K $220.0K
YoY Change 31.82% 10.0% 10.0%
Total Long-Term Assets $7.690M $8.640M $8.650M
YoY Change -11.1% 4.11% 4.22%
TOTAL ASSETS
Total Short-Term Assets $6.050M $5.865M $5.860M
Total Long-Term Assets $7.690M $8.640M $8.650M
Total Assets $13.74M $14.51M $14.51M
YoY Change -5.31% -3.26% -3.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $680.0K $510.0K $510.0K
YoY Change 33.33% 0.0% 0.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.210M $650.0K $650.0K
YoY Change 86.15%
Long-Term Debt Due $320.0K $329.4K $330.0K
YoY Change -3.03% 168.39% 175.0%
Total Short-Term Liabilities $2.560M $2.245M $2.240M
YoY Change 14.29% 49.14% 48.34%
LONG-TERM LIABILITIES
Long-Term Debt $1.410M $1.650M $1.650M
YoY Change -14.55% -25.34% -25.34%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.410M $1.650M $1.650M
YoY Change -14.55% -25.34% -25.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.560M $2.245M $2.240M
Total Long-Term Liabilities $1.410M $1.650M $1.650M
Total Liabilities $3.970M $3.892M $3.890M
YoY Change 2.06% 4.88% 4.85%
SHAREHOLDERS EQUITY
Retained Earnings -$5.742M
YoY Change -3.09%
Common Stock $15.88M
YoY Change -4.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.770M $10.61M $10.61M
YoY Change
Total Liabilities & Shareholders Equity $13.74M $14.51M $14.51M
YoY Change -5.31% -3.26% -3.2%

Cashflow Statement

Concept 2012 2011 Q4 2011
OPERATING ACTIVITIES
Net Income -$1.084M -$260.0K $183.0K
YoY Change -692.63% -38.1% -196.27%
Depreciation, Depletion And Amortization $1.245M $80.00K $330.9K
YoY Change 276.24% -11.11% -7.25%
Cash From Operating Activities -$307.2K $1.280M -$798.8K
YoY Change -61.54% 13.27% -160.55%
INVESTING ACTIVITIES
Capital Expenditures -$96.72K -$50.00K $794.8K
YoY Change -112.17% -72.22% 29.47%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $96.72K -$50.00K -$794.8K
YoY Change -112.17% -72.22% 29.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $2.061M
YoY Change -100.0%
Debt Paid & Issued, Net $293.4K $309.1K
YoY Change -5.07% 272.38%
Cash From Financing Activities $261.6K -1.070M -$689.4K
YoY Change -137.95% 3466.67% 730.66%
NET CHANGE
Cash From Operating Activities -$307.2K 1.280M -$798.8K
Cash From Investing Activities $96.72K -50.00K -$794.8K
Cash From Financing Activities $261.6K -1.070M -$689.4K
Net Change In Cash $51.08K 160.0K -$2.283M
YoY Change -102.24% -82.61% -466.9%
FREE CASH FLOW
Cash From Operating Activities -$307.2K $1.280M -$798.8K
Capital Expenditures -$96.72K -$50.00K $794.8K
Free Cash Flow -$210.5K $1.330M -$1.594M
YoY Change -86.79% 1.53% -325.97%

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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
9768668 usd
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10612975 usd
CY2010Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11282384 usd
CY2012 us-gaap Reclassifications
Reclassifications
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Certain of the comparative figures have been reclassified to conform with the current year&#146;s presentation.</p>
CY2012 FSI Representation In Accounts Receivable By Primary Customers
RepresentationInAccountsReceivableByPrimaryCustomers
1648428 usd
CY2011 FSI Representation In Accounts Receivable By Primary Customers
RepresentationInAccountsReceivableByPrimaryCustomers
1696526 usd
CY2012 FSI Percentage Representation In Accounts Receivable By Primary Customers
PercentageRepresentationInAccountsReceivableByPrimaryCustomers
0.75
CY2011Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
2345211 usd
CY2012Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
-13089 usd
CY2012 FSI Interest Loan Repayment Table Textblock
InterestLoanRepaymentTableTextblock
<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has committed to the following repayments:</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 8pt Calibri, Helvetica, Sans-Serif; width: 100%"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="width: 83%; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">2013</font></td> <td style="width: 1%; line-height: 115%">&#160;</td> <td style="width: 1%; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="width: 14%; text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">190,911</font></td> <td nowrap="nowrap" style="width: 1%; line-height: 115%">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">2014</font></td> <td style="line-height: 115%">&#160;</td> <td style="line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">$</font></td> <td style="text-align: right; line-height: 115%"><font style="font: 8pt Times New Roman, Times, Serif">79,546</font></td> <td nowrap="nowrap" style="line-height: 115%">&#160;</td></tr> </table>
CY2011 FSI Percentage Representation In Accounts Receivable By Primary Customers
PercentageRepresentationInAccountsReceivableByPrimaryCustomers
0.73
CY2012Q4 us-gaap Accounts Receivable From Securitization
AccountsReceivableFromSecuritization
69410 usd
CY2011Q4 us-gaap Accounts Receivable From Securitization
AccountsReceivableFromSecuritization
210923 usd
CY2012Q4 FSI Inventory From Securitization
InventoryFromSecuritization
487903 usd
CY2011Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
-13192 usd
CY2012Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2199359 usd
CY2011Q4 FSI Inventory From Securitization
InventoryFromSecuritization
558747 usd
CY2012 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P17Y
CY2012 FSI Patent Depreciation Expense
PatentDepreciationExpense
11124 usd
CY2011 FSI Patent Depreciation Expense
PatentDepreciationExpense
11124 usd
CY2012Q4 FSI Future Year Income Tax Total
FutureYearIncomeTaxTotal
8435655 usd
CY2012Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
2212448 usd
CY2011Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2332019 usd
CY2012Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1740186 usd
CY2011Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1702842 usd
CY2012Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
31593 usd
CY2011Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
20317 usd
CY2012Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1589981 usd
CY2011Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1167352 usd
CY2012Q4 us-gaap Inventory Net
InventoryNet
3361760 usd
CY2011Q4 us-gaap Inventory Net
InventoryNet
2890511 usd
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12216114 usd
CY2011Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11986265 usd
CY2012Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5030384 usd
CY2011Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3780751 usd
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7185730 usd
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8205514 usd
CY2011Q4 FSI Building
Building
1040078 usd
CY2011Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
1068606 usd
CY2011Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
3411914 usd
CY2011Q4 us-gaap Public Utilities Property Plant And Equipment Construction Work In Progress
PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress
5520598 usd
CY2012Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
266451 usd
CY2011Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
260680 usd
CY2012Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
65939 usd
CY2011Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
52474 usd
CY2012Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
200512 usd
CY2011Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
208206 usd
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
12300 usd
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
12300 usd
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
12300 usd
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
12300 usd
CY2012Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
12300 usd
CY2012Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
7893 usd
CY2011Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
7733 usd
CY2012Q4 us-gaap Long Term Debt
LongTermDebt
1976992 usd
CY2011Q4 us-gaap Long Term Debt
LongTermDebt
2328801 usd
CY2012Q4 FSI Payments On Loan
PaymentsOnLoan
310384 usd
CY2011Q4 FSI Payments On Loan
PaymentsOnLoan
309055 usd
CY2012Q4 FSI Effect Of Exchange Rate
EffectOfExchangeRate
59512 usd
CY2011Q4 FSI Effect Of Exchange Rate
EffectOfExchangeRate
-42754 usd
CY2012Q4 FSI Long Term Debt1
LongTermDebt1
1726050 usd
CY2011Q4 FSI Long Term Debt1
LongTermDebt1
1976992 usd
CY2012Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
318644 usd
CY2011Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
329389 usd
CY2012Q4 us-gaap Debt Current
DebtCurrent
1407406 usd
CY2011Q4 us-gaap Debt Current
DebtCurrent
1647603 usd
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2012 FSI Expected Income Tax Recovery
ExpectedIncomeTaxRecovery
-10571 usd
CY2011 FSI Expected Income Tax Recovery
ExpectedIncomeTaxRecovery
444931 usd
CY2012 FSI Nondeductible Items
NondeductibleItems
-71650 usd
CY2011 FSI Nondeductible Items
NondeductibleItems
82340 usd
CY2012 FSI Change In Estimates
ChangeInEstimates
758 usd
CY2012 FSI Functional Currency Adjustments
FunctionalCurrencyAdjustments
-40925 usd
CY2011 FSI Functional Currency Adjustments
FunctionalCurrencyAdjustments
-116981 usd
CY2012 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
217576 usd
CY2011 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
114131 usd
CY2012 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
752948 usd
CY2011 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
311357 usd
CY2012 FSI Total Income Taxes Recovery
TotalIncomeTaxesRecovery
848136 usd
CY2011 FSI Total Income Taxes Recovery
TotalIncomeTaxesRecovery
835778 usd
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1126468 usd
CY2011 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1146166 usd
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-73111 usd
CY2011 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-20000 usd
CY2012 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1053357 usd
CY2011 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1126166 usd
CY2012Q4 FSI Future Year Income Tax
FutureYearIncomeTax
455480 usd
CY2012Q4 FSI Future Year Income Tax1
FutureYearIncomeTax1
723880 usd
CY2012Q4 FSI Future Year Income Tax2
FutureYearIncomeTax2
934586 usd
CY2012Q4 FSI Future Year Income Tax3
FutureYearIncomeTax3
839285 usd
CY2012Q4 FSI Future Year Income Tax4
FutureYearIncomeTax4
752034 usd
CY2012Q4 FSI Future Year Income Tax5
FutureYearIncomeTax5
1035876 usd
CY2012Q4 FSI Future Year Income Tax6
FutureYearIncomeTax6
1081844 usd
CY2012Q4 FSI Future Year Income Tax7
FutureYearIncomeTax7
1245677 usd
CY2012Q4 FSI Future Year Income Tax8
FutureYearIncomeTax8
1366993 usd
CY2012 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
shares
CY2011 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
205960 shares
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2011 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2011 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2012 FSI Antidilutive Options
AntidilutiveOptions
999000 shares
CY2011 FSI Antidilutive Options
AntidilutiveOptions
180700 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
999000 shares
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1193700 shares
CY2010Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1836700 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
94000 shares
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
663000 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
-288700 shares
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
-1306000 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
782000 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.96
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.04
CY2010Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.03
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.14
CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.63
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
2.35
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
3.23
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.04
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2011 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.38
CY2012 us-gaap Revenues
Revenues
16400107 usd
CY2011 us-gaap Revenues
Revenues
15518365 usd
CY2012 us-gaap Investment Income Interest
InvestmentIncomeInterest
759 usd
CY2011 us-gaap Investment Income Interest
InvestmentIncomeInterest
159 usd
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1256238 usd
CY2011 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
330939 usd
CY2012 us-gaap Interest Expense
InterestExpense
128407 usd
CY2011 us-gaap Interest Expense
InterestExpense
95749 usd
CY2012 FSI Segment Reporting Information Net Assets1
SegmentReportingInformationNetAssets1
7185730 usd
CY2011 FSI Segment Reporting Information Net Assets1
SegmentReportingInformationNetAssets1
8205514 usd
CY2012 us-gaap Additions To Noncurrent Assets
AdditionsToNoncurrentAssets
96721 usd
CY2011 us-gaap Additions To Noncurrent Assets
AdditionsToNoncurrentAssets
794848 usd
CY2012 FSI Property Equipment Leasehold And Patents
PropertyEquipmentLeaseholdAndPatents
7386242 usd
CY2011 FSI Property Equipment Leasehold And Patents
PropertyEquipmentLeaseholdAndPatents
8413720 usd
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
155295 usd
CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
47964 usd
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P2Y10M24D
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
776430 usd
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P2Y
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
301500 usd
CY2012 FSI Stock Option Granted To Consultant2
StockOptionGrantedToConsultant2
33000 shares
CY2011 FSI Stock Option Granted To Consultant2
StockOptionGrantedToConsultant2
231000 shares
CY2012 FSI Additional Expense In Option Grant To Consultant
AdditionalExpenseInOptionGrantToConsultant
21939 usd
CY2011 FSI Additional Expense In Option Grant To Consultant
AdditionalExpenseInOptionGrantToConsultant
51874 usd
CY2012 FSI Additional Expense Options Granted In Other Years
AdditionalExpenseOptionsGrantedInOtherYears
27159 usd
CY2011 FSI Additional Expense Options Granted In Other Years
AdditionalExpenseOptionsGrantedInOtherYears
5016 usd
CY2012 FSI Stock Option Granted To Employee
StockOptionGrantedToEmployee
61000 shares
CY2011 FSI Stock Option Granted To Employee
StockOptionGrantedToEmployee
432000 shares
CY2012 FSI Additional Expense In Option Grant To Employee
AdditionalExpenseInOptionGrantToEmployee
39586 usd
CY2011 FSI Additional Expense In Option Grant To Employee
AdditionalExpenseInOptionGrantToEmployee
69777 usd
CY2012 FSI Additional Expense Options Granted To Employee In Other Years
AdditionalExpenseOptionsGrantedToEmployeeInOtherYears
53766 usd
CY2011 FSI Additional Expense Options Granted To Employee In Other Years
AdditionalExpenseOptionsGrantedToEmployeeInOtherYears
129106 usd
CY2012Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
67888 usd
CY2012 us-gaap Entity Wide Revenue Major Customer Amount
EntityWideRevenueMajorCustomerAmount
9712657 usd
CY2011 us-gaap Entity Wide Revenue Major Customer Amount
EntityWideRevenueMajorCustomerAmount
9702119 usd
CY2012 us-gaap Entity Wide Revenue Major Customer Percentage
EntityWideRevenueMajorCustomerPercentage
0.59
CY2011 us-gaap Entity Wide Revenue Major Customer Percentage
EntityWideRevenueMajorCustomerPercentage
0.63
CY2012 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.&#160;&#160;Actual results could differ from those estimates and would impact the results of operations and cash flows.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Estimates and underlying assumptions are reviewed at each period end. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Significant areas requiring the use of management estimates include assumptions and estimates relating to the asset impairment analysis, share-based payments and warrants, valuation allowances for deferred income tax assets, determination of useful lives of property, plant and equipment, and the valuation of inventory.</p>
CY2012 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#146;s credit risk is primarily attributable to its account receivables. The amounts presented in the accompanying consolidated balance sheets are net of allowances for doubtful accounts, estimated by the Company&#146;s management based on prior experience and the current economic environment.&#160;The Company is exposed to credit-related losses in the event of non-performance by counterparties to the financial instruments. Credit exposure is minimized by dealing with only credit worthy counterparties. Accounts receivable for the Company&#146;s three primary customers totaled $1,648,428 (75%) at December 31, 2012 (2011 - $1,696,526 or 73%).&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The credit risk on cash and cash equivalents is limited because the Company limits its exposure to credit loss by placing its cash and cash equivalents with major financial institutions.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is not exposed to significant interest rate risk to the extent that the long term debt maintained from the foreign government agencies is subject to a fixed rate of interest.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In order to manage its exposure to foreign exchange risks, the Company is closely monitoring the fluctuations in the foreign currency exchange rates and the impact on the value of cash and cash equivalents, accounts receivable, and accounts payable.</p>
CY2012Q4 FSI Long Term Debt Aafc
LongTermDebtAafc
549268 usd
CY2011Q4 FSI Long Term Debt Aafc
LongTermDebtAafc
716461 usd
CY2012Q4 FSI Long Term Debt Afsc
LongTermDebtAfsc
1176782 usd
CY2011Q4 FSI Long Term Debt Afsc
LongTermDebtAfsc
1260531 usd
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
921247 usd
CY2011 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
852316 usd
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
205221 usd
CY2011 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
293850 usd
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
usd
CY2011 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
usd
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-73111 usd
CY2011 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-20000 usd
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
usd
CY2011 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
usd
CY2012 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
usd
CY2011 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
usd
CY2012Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
8435655 usd
CY2011Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
7068662 usd

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