SIMTROL INC Financials

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Simtrol Announces Deal with Partner Strike Industries

NORCROSS, Ga., Nov. 12 /PRNewswire-FirstCall/ -- Simtrol, Inc. (OTC Bulletin Board: SMRL - News), an innovative developer of enterprise-class software solutions that manage the extended network of connected devices, today announced the sale of its Visitor(TM) and Scheduler(TM) products to its partner Strike Industries, Inc. In the transaction, the Company assigned ownership of its Simtrol Visitor(TM) and Simtrol Scheduler(TM) software, granting Strike Industries the right to modify, advertise, promote, market, and license the software in exchange for a cash payment, a secured note, plus a royalty stream from future sales of the software. The products support and enable software-based management and delivery of prisoner visitation in a truly scalable and cost-effective way."We are excited to leverage Strike's deep industry expertise and sterling reputation with their clients to bring our technology solutions to the large and growing corrections market," stated Oliver Cooper, Simtrol President and CEO. "Strike has made a substantial investment into this product and we have entered into an ongoing financial relationship which is consistent with our strategy of working with our partners to maximize the value of our assets.""Simtrol's Device Manager(TM) represents state of the art technology which has been applied to solve major problems in the corrections market. We have demonstrated its value through the mutual successes we have had with customers utilizing the Visitor(TM) and Scheduler(TM) products," said Pat Sell...
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Simtrol to Attend Police Central Users Group

NORCROSS, Ga., Nov. 11 /PRNewswire-FirstCall/ -- Simtrol, Inc. (OTC Bulletin Board: SMRL - News), an innovative developer of enterprise-class software solutions that manage the extended network of connected devices, today announced that its CEO, Oliver Cooper, will attend the Police Central, Inc. Users Group Conference November 15-18, 2009. Police Central is a leading developer of software solutions for law enforcement agencies. "We are delighted to have the opportunity to get to know Police Central and its nationwide customer base of Law Enforcement and Corrections providers," commented Mr. Cooper. "We are anxious to explore both tactical and strategic opportunities to add value for PCI and its clients. This activity is consistent with our strategic direction.""We are always looking for ways to provide greater value to customers and are excited to introduce Simtrol's capabilities to our users. Simtrol's skill, experience and approach to business are quite compatible with our own and we look forward to interacting at the conference and understanding how to accelerate value creation for our customers," commented Bruce Taylor, President and COO of Police Central.About SimtrolSimtrol enables enterprises to manage an increasingly complex world. Simtrol's flagship Device Manager(TM) software powers enterprise-wide solutions that manage, control, maintain, and diagnose non-traditional connected assets. For more information about Simtrol, please visit ...
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SIMTROL INC Files SEC form 10-Q, Quarterly Report

Show all filings for SIMTROL INC | Request a Trial to NEW EDGAR Online Pro Form 10-Q for SIMTROL INC 10-Nov-2009Quarterly Report 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 purposes only, not intended for trading purposes or...
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Simtrol, Inc. Releases Business Update Letter to Shareholders

NORCROSS, Ga., Nov. 4 /PRNewswire-FirstCall/ -- Simtrol, Inc. (OTC Bulletin Board: SMRL - News), an innovative developer of enterprise-class software solutions that manage the extended network of connected devices, today issued a business update letter to shareholders from Mr. Oliver Cooper, President and Chief Executive Officer, on its public website. A copy of the letter is available here.About SimtrolSimtrol enables enterprises to manage an increasingly complex world. Simtrol's flagship Device Manager(TM) software powers enterprise-wide solutions that manage, control, maintain, and diagnose non-traditional connected assets. For more information about Simtrol, please visit www.simtrol.com.This announcement may contain forward-looking statements pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements involve risks and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, development difficulties, foreign currency risks, costs of ...
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SIMTROL INC Files SEC form 8-K, Other Events

Show all filings for SIMTROL INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for SIMTROL INC 29-Oct-2009Other Events 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 purposes only, not intended for trading purposes or advic...
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SIMTROL INC Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion highlights the material factors affecting our results of operations and the significant changes in the balance sheet items. The notes to our condensed consolidated financial statements included in this report and the notes to our consolidated financial statements included in our Form 10-K for the year ended December 31, 2008 should be read in conjunction with this discussion and our consolidated financial statements. CRITICAL ACCOUNTING POLICIES AND ESTIMATES We prepare our unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America. As such, we are required to make certain estimates, judgments and assumptions that we believe are reasonable based upon the information available. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the periods presented. The significant accounting policies which we believe are the most critical to aid in fully understanding and evaluating our reported financial results include the following: · Revenue recognition. We follow the guidance of the Securities and Exchange Commission's Staff Accounting Bulletin 104 ("SAB 104") for revenue recognition. We adhere strictly to the criteria outlined in SAB 104, which provides for revenue to be recognized when (i) persuasive evidence of an arrangement exists, (ii) delivery or installation has been completed, (iii) the customer accepts and verifies receipt, and (iv) collectability is reasonably assured. Certain judgments affect the application of our revenue policy. Revenue consists of the sale of device control software and related maintenance contracts on these systems. Revenue on the sale of hardware is recognized upon shipment. We recogni...
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SIMTROL INC Files SEC form 8-K, Other Events

Show all filings for SIMTROL INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for SIMTROL INC 1-Jul-2009Other Events 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 purposes only, not intended for trading purposes or advice...
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SIMTROL INC Files SEC form 8-K, Change in Directors or Principal Officers, Other Events

Show all filings for SIMTROL INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for SIMTROL INC 15-Jun-2009Change in Directors or Principal Officers, Other Events 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 purposes...
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SIMTROL INC Files SEC form 8-K/A, Unregistered Sale of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. On May 29, 2009, the Company completed the sale of $562,250 of Participation Interests ("Participation Interests") in a secured master promissory note ("Master Note") and five-year warrants to purchase 3,000,000 shares of common stock at an exercise price of $0.375 per share to accredited private investors. The net proceeds of this offering will be used for working capital and general corporate purposes. Important terms of the Master Note include: · The Master Note bears interest at the rate of 22% per annum, is payable six months from the issue date ("Maturity Date") and can be pre-paid at any time. Accrued interest is payable in cash on the Maturity Date. · The Maturity Date of the Master Note may be extended by the Company for two 30-day periods. If the Company elects to extend the Maturity Date, the Company will pay a 5% Extension Fee at the conclusion of each such 30-day Extension Period, payable at the option of the Company in cash or the Company's common stock. By way of example, if the outstanding balance of the Master Note is $22,500, the Company would pay an Extension Fee of $1,125. If the Extension fee is paid in common stock, the common stock will be deemed to have a value per share equal to the greater of $0.375 or the 10-day simple average of closing prices on the Over The Counter Bulletin Board ("OTCBB") for the 10 trading days preceding the date the payment is due. · The Master Note is secured by all of the Company's cash and cash equivalents, accounts receivable, prepaid assets, and equipment. The Master Note and Participation Interests will be convertible into equity securities on the following terms: o If the Company closes a "Qualifying Next Equity Financing" before the Maturity Date, the then-outstanding balance of principal and accrued interest on the Master Note will automatically convert into shares of the "Next Equity Financing Securiti...
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