BOOMERANG SYSTEMS, INC. Files SEC form 8-K, Unregistered Sale of Equity Securities, Other Events, Financial Statement

Item 8.01. Other Events. 1. Our Private Offering (a) Securities Offered and Sold. Commencing in May 2009 and ending November 13, 2009, we have undertaken a private offering of our securities in three tranches including the issuance and sale through September 30, 2009 of an aggregate of 44,703,247 shares of Common Stock and we have commenced a private offering of an additional 8,905,753 shares to be completed before November 13, 2009. The private offering includes the following: 1. On June 12, 2009, we completed the sale of an aggregate of 33,609 shares of our Series A Convertible Preferred Stock ("Preferred Stock"). We refer to the sale of the Preferred Stock as the First Tranche. As a consequence of filing in the State of Delaware a Certificate of Amendment to increase our authorized shares of Common Stock to 100,000,000 shares, under the terms of the Preferred Stock as described in paragraph (d)(1) below, effective September 3, 2009, the 33,609 shares of Preferred Stock were converted into 33,609,000 shares of our Common Stock. 2. On September 30, 2009, we completed the sale of an aggregate of 11,094,247 additional shares of Common Stock. We refer to the sale of these shares of Common Stock as the Second Tranche. 3. As of October 23, 2009, we commenced a private offering and sale of an additional 8,905,753 shares of Common Stock which offering is intended to be completed by November 13, 2009. We refer to this offering of shares of Common Stock as the Third Tranche. (b) Purchasers. The purchasers of the securities sold in the First Tranche and Second Tranche were all "accredited investors" as defined in paragraph 501(a) of Regulation D under the Securities Act of 1933, as amended. The shares of Common Stock offered in the Third Tranche are intended to be offered and sold only to "accredited investors," as defined. (c) Consideration. (1) The aggregate offering price for the Preferred Stock sold in the First Tranche was $...
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BOOMERANG SYSTEMS, INC. Files SEC form 8-K, Unregistered Sale of Equity Securities

Show all filings for BOOMERANG SYSTEMS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for BOOMERANG SYSTEMS, INC. 6-Oct-2009Unregistered Sale of Equity Securities Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purpose...
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BOOMERANG SYSTEMS, INC. Financials

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BOOMERANG SYSTEMS, INC. Files SEC form 8-K, Unregistered Sale of Equity Securities, Amendments to Articles of Inc. or

Show all filings for BOOMERANG SYSTEMS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for BOOMERANG SYSTEMS, INC. 14-Sep-2009Unregistered Sale of Equity Securities, Amendments to Articles of Inc. or Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All informat...
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BOOMERANG SYSTEMS, INC. Files SEC form 10-Q, Quarterly Report

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS ITEM. 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION INTRODUCTION The following discussion and analysis of financial condition and results of operations should be read in conjunction with the Company's consolidated financial statements and accompanying notes appearing elsewhere in this report. This discussion and analysis contains forward looking statements that involve risks, uncertainties and assumptions. The actual results may differ materially from those anticipated in these forward looking statements as a result of certain factors, including but not limited to the risks discussed in this report. The Company, through its wholly owned subsidiary, Boomerang, which it acquired in February 2008, is engaged in the design, development, and marketing of automated racking and retrieval systems for automobile parking and automated racking and retrieval of containerized self-storage units. The Company's revenues from manufacturing contracts are recognized using the percentage-of-completion method of accounting. Under this method, revenues earned are primarily recorded based on the contract. Contract costs include all direct material, labor, freight, and equipment costs, and those indirect costs related to contract performance such as indirect labor, overhead, supplies, shop, and tool costs. Selling, general, and administrative costs are charged to expense when incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, and estimated profitability, inclusive of those arising from contract penalty provisions and final contract settlements, may result in revisions to costs and income and will be recognized in the period in which the changes are determined. The asset "Costs and estimated earned profits in excess of billings on uncompleted co...
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BOOMERANG SYSTEMS, INC. Files SEC form 10-Q/A, Quarterly Report

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS ITEM. 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION INTRODUCTION The following discussion and analysis of financial condition and results of operations should be read in conjunction with the Company's condensed consolidated financial statements and accompanying notes appearing elsewhere in this report. This discussion and analysis contains forward looking statements that involve risks, uncertainties and assumptions. The actual results may differ materially from those anticipated in these forward looking statements as a result of certain factors, including but not limited to the risks discussed in this report. The Company, through its wholly owned subsidiary, Boomerang, which it acquired in February 2008, is engaged in the design, development, and marketing of automated racking and retrieval systems for automobile parking and automated racking and retrieval of containerized self-storage units. The Company's revenues from manufacturing contracts are recognized using the percentage-of-completion method of accounting. Under this method, revenues earned are primarily recorded based on the contract. Contract costs include all direct material, labor, freight, and equipment costs, and those indirect costs related to contract performance such as indirect labor, overhead, supplies, shop, and tool costs. Selling, general, and administrative costs are charged to expense when incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, and estimated profitability, inclusive of those arising from contract penalty provisions and final contract settlements, may result in revisions to costs and income and will be recognized in the period in which the changes are determined. The asset "Costs and estimated earned profits in excess of billings on unco...
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BOOMERANG SYSTEMS, INC. Files SEC form 10-Q/A, Quarterly Report

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS ITEM. 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION INTRODUCTION The following discussion and analysis of financial condition and results of operations should be read in conjunction with the Company's condensed consolidated financial statements and accompanying notes appearing elsewhere in this report. This discussion and analysis contains forward looking statements that involve risks, uncertainties and assumptions. The actual results may differ materially from those anticipated in these forward looking statements as a result of certain factors, including but not limited to the risks discussed in this report. CRITICAL ACCOUNTING POLICIES AND ESTIMATES: Our financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires our management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. We continually evaluate the accounting policies and estimates we use to prepare the consolidated financial statements. We base our estimates on historical experiences and assumptions believed to be reasonable under current facts and circumstances. Actual amounts and results could differ from these estimates made by management. We do not participate in, nor have we created, any off-balance sheet special purpose entities or other off-balance sheet financing. We have identified the accounting policies below as critical to our business operations and the understanding of our results of operations. Principles of consolidation - The accompanying consolidated financial statements include the accounts of Boomerang Systems Inc. and its wholly owned subsidiaries (collectively, the "Company"). All significant inter company tr...
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BOOMERANG SYSTEMS, INC. Files SEC form 8-K, Unregistered Sale of Equity Securities

Show all filings for BOOMERANG SYSTEMS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for BOOMERANG SYSTEMS, INC. 1-Jul-2009Unregistered Sale of Equity Securities Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purpose...
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BOOMERANG SYSTEMS, INC. Files SEC form 10-Q, Quarterly Report

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS ITEM. 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION INTRODUCTION The following discussion and analysis of financial condition and results of operations should be read in conjunction with the Company's consolidated financial statements and accompanying notes appearing elsewhere in this report. This discussion and analysis contains forward looking statements that involve risks, uncertainties and assumptions. The actual results may differ materially from those anticipated in these forward looking statements as a result of certain factors, including but not limited to the risks discussed in this report. The Company, through its wholly owned subsidiary, Boomerang, which it acquired in February 2008, is engaged in the design, development, and marketing of automated racking and retrieval systems for automobile parking and automated racking and retrieval of containerized self-storage units. The Company's revenues from manufacturing contracts are recognized using the percentage-of-completion method of accounting. Under this method, revenues earned are primarily recorded based on the contract. Contract costs include all direct material, labor, freight, and equipment costs, and those indirect costs related to contract performance such as indirect labor, overhead, supplies, shop, and tool costs. Selling, general, and administrative costs are charged to expense when incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, and estimated profitability, inclusive of those arising from contract penalty provisions and final contract settlements, may result in revisions to costs and income and will be recognized in the period in which the changes are determined. The asset "Costs and estimated earned profits in excess of billings on uncompleted co...
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BOOMERANG SYSTEMS, INC. Files SEC form 10-Q/A, Quarterly Report

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS ITEM. 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION INTRODUCTION The following discussion and analysis of financial condition and results of operations should be read in conjunction with the Company's consolidated financial statements and accompanying notes appearing elsewhere in this report. This discussion and analysis contains forward looking statements that involve risks, uncertainties and assumptions. The actual results may differ materially from those anticipated in these forward looking statements as a result of certain factors, including but not limited to the risks discussed in this report. The Company, through its wholly owned subsidiary, Boomerang, which it acquired in February 2008, is engaged in the design, development, and marketing of automated racking and retrieval systems for automobile parking and automated racking and retrieval of containerized self-storage units. The Company's revenues from manufacturing contracts are recognized using the percentage-of-completion method of accounting. Under this method, revenues earned are primarily recorded based on the contract. Contract costs include all direct material, labor, freight, and equipment costs, and those indirect costs related to contract performance such as indirect labor, overhead, supplies, shop, and tool costs. Selling, general, and administrative costs are charged to expense when incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, and estimated profitability, inclusive of those arising from contract penalty provisions and final contract settlements, may result in revisions to costs and income and will be recognized in the period in which the changes are determined. The asset "Costs and estimated earned profits in excess of billings on uncompleted co...
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