VCSY Vertical Computer Systems Inc. featured news, full reports, and detailed charts
Vertical Computer Systems Inc. (VCSY/VCSY.OB) Wrap Up:
Vertical Computer Systems, Inc. provides administrative software services, Internet core technologies, and derivative software application products. Its administrative software technology is emPath, a Web-based human resources/payroll software. Its Internet core technologies include SiteFlash, ResponseFlash, and the Emily XML Scripting Language, which can be used to build Web services. The SiteFlash technology utilizes XML and publishes content on the Web, enabling the user to build and operate Web sites with the ability to separate form, function, and content. ResponseFlash is a Web-based emergency communication system used in the homeland security area to various government sectors, exclud...www.vcsy.com
29 Employees
Founded in 1992
Vertical Computer Systems Inc. (VCSY:OTC Bulletin Board Market)
LAST $0.03 USD
CHANGE TODAY -0.003 -10.71%
VOLUME 650.2K
As of 3:58 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Vertical Computer Systems Inc. (VCSY)
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OPEN
$0.03
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PREVIOUS CLOSE
$0.03
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DAY HIGH
$0.03
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DAY LOW
$0.02
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52 WEEK HIGH
04/3/09 - $0.05
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52 WEEK LOW
02/26/09 - $0.02
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MARKET CAP
25.0M
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AVERAGE VOLUME 3 mo
1.1M
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DILUTED EPS TTM
--
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SHARES OUTSTANDING
998.9M
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VCSY Does Not Pay Dividends
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P/E TTM
NM
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| K = Thousands M = Millions B = Billions | ||
VCSY Top Compensated Officers
Mr. Richard Wade
Chief Executive Officer, President, Director ...
Age: 65
Total Annual Compensation: $300.0K
Mr. David Braun
Chief Financial Officer and Chief Financial O...
Age: 51
Total Annual Compensation: $130.0K
Mr. Luiz Valdetaro
Chief Technology Officer and Director of Now ...
Age: 50
Total Annual Compensation: $150.0K
Mr. James Salz
Corporate Counsel
Total Annual Compensation: $107.5K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for Vertical Computer Systems Inc. (VCSY)
Vertical Computer Systems Inc. Reports Earnings Results for the Quarter Ended June 30, 2009
08/20/2009
Vertical Computer Systems Inc. reported earnings results for the quarter ended June 30, 2009. Net loss for the quarter was $198,536, down from $205,676 net income for the same quarter the previous year 2008.
Vertical Computer Systems Seeks Financing
08/19/2009
Vertical Computer Systems Inc. plans to raise funds. The firm said in Form 10-Q filed with Securities and Exchange Commission (SEC), “We have suffered significant operating losses, used substantial funds in our operations, and we need to raise additional funds to accomplish our objectives. Negative stockholders’ equity at June 30, 2009 was $21.3 million. Additionally, at June 30, 2009, we had negative working capital of approximately $9.8 million (although it includes deferred revenue of approximately $2.2 million) and defaulted on several of our debt obligations. These conditions raise substantial doubt about our ability to continue as a going concern. Our management is continuing its efforts to attempt to secure funds through equity and/or debt instruments for our operations, expansion and possible acquisitions, mergers, joint ventures, and/or other business combinations. We will require additional funds for our operations and to pay down our liabilities, as well as finance our expansion plans consistent with the anticipated changes in operations and infrastructure. The consolidated financial statements contain no adjustment for the outcome of this uncertainty.”
Vertical Computer Systems Inc. announced delayed 10-Q filing
08/14/2009
On 08/14/2009, Vertical Computer Systems Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
VCSY Competitors
| Company | Last | Change |
| CA Inc | $21.86 USD | -0.10 |
| Lawson Software Inc | $6.48 USD | -0.05 |
| McAfee Inc | $40.62 USD | -0.39 |
| Symantec Corp | $17.72 USD | -0.15 |
| Ultimate Software Group Inc | $27.98 USD | -0.27 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | VCSY | Industry Range |
| Price/Earnings | 7.7x |
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| Price/Sales | 3.0x |
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| Price/Book | NM | Not Meaningful |
| Price/Cash Flow | 6.3x |
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| TEV/Sales | 1.4x |
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VCSY |
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VCSY transactions
| Type Date |
Target |
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Merger/Acquisition
June 15, 2009 |
Priority Time Systems, Inc. |
More Recent News About Vertical Computer Systems Inc.
More news for VCSY
VERTICAL COMPUTER SYSTEMS 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 is a summary of the key factors management considers necessary or useful in reviewing the Company's results of operations, liquidity and capital resources. The following discussion and analysis should be read together with the accompanying Condensed Consolidated Financial Statements, and the cautionary statements and risk factors included below in the Item 3 of the Report. Critical Accounting Policies Revenue Recognition Our revenue recognition policies are in accordance with FASB ASC985-605, ''Software Revenue Recognition,''FASB ASC605, ''Revenue Recognition, FASB ASC605-25, ''Revenue Arrangements with Multiple Deliverable,'' and FASB ASC985-605-15-3 ,"Application of AICPA Statement of Position 97-2 to Arrangements That Include the Right to Use Software Stored on Another Entity's Hardware." In the case of non-software arrangements, we apply the guidance set out in FASB ASC605-25 that revenues related to arrangements with multiple elements are allocated to each element based on the element's relative fair value. Revenue allocated to separate elements is recognized for each element in accordance with our accounting policies described below. If we cannot account for items included in a multiple-element arrangement as separate units of accounting, they are combined and accounted for as a single unit of accounting and generally recognized as the undelivered items or services are provided to the customer. Consulting. We provide consulting services, primarily training and implementation services, to our clients using a time and materials pricing methodology. The Company prices its delivery of consulting services on a time and material basis where the customer is either charged an agreed-upon daily rate plus out-of-pocket expenses or an hourly rate plus out-of-pocket expenses. In this case, the Company is paid fees and ot...Click here to read the whole Article (external link)
VERTICAL COMPUTER SYSTEMS INC Financials
PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue1,349 1,432 1,164 4,238 Cost of Revenue421 359 1,159 - Gross Profit928 1,073 5 4,238 Operating ExpensesResearch Development - - - - Selling General and Administrative1,239 1,274 412 2,936 Non Recurring - - - - Others - - 72 - Total Operating Expenses - - - - Operating Income or Loss(311)(201)(479)1,302 Income from Continuing OperationsTotal Other Income/Expenses Net226 4,212 829 (911)Earnings Before Interest And Taxes(85)4,011 351 391 Interest Expense113 184 292 197 Income Before Tax(199)3,828 58 194 Income Tax Expense - - - - Minority Interest - - - - Net Income From Continuing Ops(199)3,828 58 194 Non-recurring EventsDiscontinued Operations - - - - Extraordinary Items - - - - Effect Of Accounting Changes - ...Click here to read the whole Article (external link)
VERTICAL COMPUTER SYSTEMS INC Files SEC form 8-K, Other Events
Show all filings for VERTICAL COMPUTER SYSTEMS INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for VERTICAL COMPUTER SYSTEMS INC 22-Sep-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 i...Click here to read the whole Article (external link)
VERTICAL COMPUTER SYSTEMS INC Files SEC form 10-Q/A, Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion is a summary of the key factors management considers necessary or useful in reviewing the Company's results of operations, liquidity and capital resources. The following discussion and analysis should be read together with the accompanying Condensed Consolidated Financial Statements, and the cautionary statements and risk factors included below in the Item 3 of the Report. Critical Accounting Policies Revenue Recognition Our revenue recognition policies are in accordance with Statement of Position (''SOP'') 97-2, ''Software Revenue Recognition,'' as amended by SOP 98-9, ''Modification of SOP 97-2, Software Revenue Recognition with Respect to Certain Transactions,'' Staff Accounting Bulletin (''SAB'') No. 104, ''Revenue Recognition,'' Emerging Issues Task Force (''EITF'') No. 00-21, ''Revenue Arrangements with Multiple Deliverable,'' and EITF No. 00-3 "Application of AICPA Statement of Position 97-2 to Arrangements That Include the Right to Use Software Stored on Another Entity's Hardware." In the case of non-software arrangements, we apply EITF No. 00-21 and revenues related to arrangements with multiple elements are allocated to each element based on the element's relative fair value. Revenue allocated to separate elements is recognized for each element in accordance with our accounting policies described below. If we cannot account for items included in a multiple-element arrangement as separate units of accounting, they are combined and accounted for as a single unit of accounting and generally recognized as the undelivered items or services are provided to the customer. Consulting. We provide consulting services, primarily training and implementation services, to our clients using a time and materials pricing methodology. The Company prices its delivery of consulting services on a time and material basis where ...Click here to read the whole Article (external link)
VERTICAL COMPUTER SYSTEMS INC Files SEC form 10-K/A, Annual Report
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations The following discussion is a summary of the key factors management considers necessary or useful in reviewing our results of operations, liquidity and capital resources. The following discussion and analysis should be read together with the Consolidated Financial Statements and Notes of Vertical and its subsidiaries included in Item 8 of this Report, and the cautionary statements and risk factors included in item 1A of the Report. Critical Accounting Policies Capitalized Software Costs Software costs incurred internally in creating computer software products are expensed until technological feasibility has been established upon completion of a detailed program design. Thereafter, all software development costs are capitalized until the point that the product is ready for sale and subsequently reported at the lower of unamortized cost or net realizable value. The Company considers annual amortization of capitalized software costs based on the ratio of current year revenues by product to the total estimated revenues by the product, subject to an annual minimum based on straight-line amortization over the product's estimated economic useful life, not to exceed five years. The Company periodically reviews capitalized software costs for impairment where the fair value is less than the carrying value. During the year ended December 31, 2008 and 2007, no costs were capitalized. Revenue Recognition Our revenue recognition policies are in accordance with Statement of Position (''SOP'') 97-2, ''Software Revenue Recognition,'' as amended by SOP 98-9, ''Modification of SOP 97-2, Software Revenue Recognition with Respect to Certain Transactions,'' Staff Accounting Bulletin (''SAB'') No. 104, ''Revenue Recognition,'' Emerging Issues Task Force (''EITF'') No. 00-21, ''Revenue Arrangements with Multiple Deliverable,'' and EITF No. 00-3 "Application of...Click here to read the whole Article (external link)
VERTICAL COMPUTER SYSTEMS INC Files SEC form 8-K, Non-Reliance on Previous Financials, Audits or Interim Review
Show all filings for VERTICAL COMPUTER SYSTEMS INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for VERTICAL COMPUTER SYSTEMS INC 21-Aug-2009Non-Reliance on Previous Financials, Audits or Interim Review 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 provid...Click here to read the whole Article (external link)
VERTICAL COMPUTER SYSTEMS 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 is a summary of the key factors management considers necessary or useful in reviewing the Company's results of operations, liquidity and capital resources. The following discussion and analysis should be read together with the accompanying Condensed Consolidated Financial Statements, and the cautionary statements and risk factors included below in the Item 3 of the Report. Critical Accounting Policies Revenue Recognition Our revenue recognition policies are in accordance with Statement of Position (''SOP'') 97-2, ''Software Revenue Recognition,'' as amended by SOP 98-9, ''Modification of SOP 97-2, Software Revenue Recognition with Respect to Certain Transactions,'' Staff Accounting Bulletin (''SAB'') No. 104, ''Revenue Recognition,'' Emerging Issues Task Force (''EITF'') No. 00-21, ''Revenue Arrangements with Multiple Deliverable,'' and EITF No. 00-3 "Application of AICPA Statement of Position 97-2 to Arrangements That Include the Right to Use Software Stored on Another Entity's Hardware." In the case of non-software arrangements, we apply EITF No. 00-21 and revenues related to arrangements with multiple elements are allocated to each element based on the element's relative fair value. Revenue allocated to separate elements is recognized for each element in accordance with our accounting policies described below. If we cannot account for items included in a multiple-element arrangement as separate units of accounting, they are combined and accounted for as a single unit of accounting and generally recognized as the undelivered items or services are provided to the customer. Consulting. We provide consulting services, primarily training and implementation services, to our clients using a time and materials pricing methodology. The Company prices its delivery of consulting services on a time and material basis where ...Click here to read the whole Article (external link)
VERTICAL COMPUTER SYSTEMS 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 is a summary of the key factors management considers necessary or useful in reviewing the Company's results of operations, liquidity and capital resources. The following discussion and analysis should be read together with the accompanying Condensed Consolidated Financial Statements, and the cautionary statements and risk factors included below in the Item 3 of the Report. Critical Accounting Policies Revenue Recognition Our revenue recognition policies are in accordance with Statement of Position (''SOP'') 97-2, ''Software Revenue Recognition,'' as amended by SOP 98-9, ''Modification of SOP 97-2, Software Revenue Recognition with Respect to Certain Transactions,'' Staff Accounting Bulletin (''SAB'') No. 104, ''Revenue Recognition,'' Emerging Issues Task Force (''EITF'') No. 00-21, ''Revenue Arrangements with Multiple Deliverable,'' and EITF No. 00-3 "Application of AICPA Statement of Position 97-2 to Arrangements That Include the Right to Use Software Stored on Another Entity's Hardware." In the case of non-software arrangements, we apply EITF No. 00-21 and revenues related to arrangements with multiple elements are allocated to each element based on the element's relative fair value. Revenue allocated to separate elements is recognized for each element in accordance with our accounting policies described below. If we cannot account for items included in a multiple-element arrangement as separate units of accounting, they are combined and accounted for as a single unit of accounting and generally recognized as the undelivered items or services are provided to the customer. Consulting. We provide consulting services, primarily training and implementation services, to our clients using a time and materials pricing methodology. The Company prices its delivery of consulting services on a time and material basis where ...Click here to read the whole Article (external link)
VERTICAL COMPUTER SYSTEMS INC Files SEC form 8-K, Non-Reliance on Previous Financials, Audits or Interim Review, Othe
Show all filings for VERTICAL COMPUTER SYSTEMS INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for VERTICAL COMPUTER SYSTEMS INC 14-May-2009Non-Reliance on Previous Financials, Audits or Interim Review, Othe 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 inform...Click here to read the whole Article (external link)
VERTICAL COMPUTER SYSTEMS INC Files SEC form 10-K, Annual Report
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations The following discussion is a summary of the key factors management considers necessary or useful in reviewing our results of operations, liquidity and capital resources. The following discussion and analysis should be read together with the Consolidated Financial Statements and Notes of Vertical and its subsidiaries included in Item 8 of this Report, and the cautionary statements and risk factors included in item 1A of the Report. Critical Accounting Policies Capitalized Software Costs Software costs incurred internally in creating computer software products are expensed until technological feasibility has been established upon completion of a detailed program design. Thereafter, all software development costs are capitalized until the point that the product is ready for sale and subsequently reported at the lower of unamortized cost or net realizable value. The Company considers annual amortization of capitalized software costs based on the ratio of current year revenues by product to the total estimated revenues by the product, subject to an annual minimum based on straight-line amortization over the product's estimated economic useful life, not to exceed five years. The Company periodically reviews capitalized software costs for impairment where the fair value is less than the carrying value. During the year ended December 31, 2008 and 2007, no costs were capitalized. Revenue Recognition Our revenue recognition policies are in accordance with Statement of Position (''SOP'') 97-2, ''Software Revenue Recognition,'' as amended by SOP 98-9, ''Modification of SOP 97-2, Software Revenue Recognition with Respect to Certain Transactions,'' Staff Accounting Bulletin (''SAB'') No. 104, ''Revenue Recognition,'' Emerging Issues Task Force (''EITF'') No. 00-21, ''Revenue Arrangements with Multiple Deliverable,'' and EITF No. 00-3 "Application of...Click here to read the whole Article (external link)
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