Nevada 83-0401552
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
11101 W. 120th Ave., Suite 200, Broomfield, Colorado 80021
(Address of principal executive offices)
(303) 544-1111
(Issuer’s telephone number)
|
Exhibit
|
|
Number
|
Description of Document
|
101.INS
|
XBRL Instance Document.
|
101.SCH
|
XBRL Taxonomy Extension Schema Document.
|
101.CAL
|
XBRL Taxonomy Calculation Linkbase Document.
|
101.PRE
|
XBRL Taxonomy Presentation Linkbase Document.
|
101.LAB
|
XBRL Taxonomy Label Linkbase Document.
|
101.DEF
|
XBRL Taxonomy Definition Linkbase Document.
|
Roomlinx, Inc. | |||
|
By:
|
/s/ Michael S. Wasik | |
Michael S. Wasik
|
|||
Chief Executive Officer
|
|||
By: | /s/ Anthony DiPaolo | ||
Anthony DiPaolo | |||
Chief Financial Officer | |||
Date: | August 21, 2012 |
Equity (Details 3) - Summary of stock option activity under stock option plan (Stock options, USD $)
|
6 Months Ended |
---|---|
Jun. 30, 2012
|
|
Stock options
|
|
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Outstanding at January 1, 2012 | 404,194 |
Issued | 619,567 |
Exercised | (6,000) |
Expired/Cancelled | (58,890) |
Outstanding at June 30, 2012 | 958,871 |
Vested & Exercisable at June 30, 2012 | 342,296 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |
Outstanding at January 1, 2012 | $ 2.78 |
Issued | $ 3.85 |
Exercised | $ 1.33 |
Expired/Cancelled | $ 3.82 |
Outstanding at June 30, 2012 | $ 3.42 |
Vested & Exercisable at June 30, 2012 | $ 2.70 |
Outstanding at June 30, 2012 | 3 years 8 months |
Vested & Exercisable at June 30, 2012 | 3 years 7 months |
Outstanding at June 30, 2012 | $ 104,750 |
Vested & Exercisable at June 30, 2012 | $ 104,750 |
Subsequent Events (Detail Textuals) (Subsequent Event, USD $)
|
Aug. 14, 2012
|
Jul. 31, 2012
|
Jul. 23, 2012
|
---|---|---|---|
Subsequent Event
|
|||
Subsequent Event [Line Items] | |||
Term note payable | 4 years | ||
Note payable to the Federal Communications Commission ("FCC") | $ 45,000 | ||
Deposit payable | 5,000 | ||
Result of two forfeiture orders issued by the FCC each released assessing fines of | $ 25,000 |
Segment Information (Details) (USD $)
|
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2012
|
Jun. 30, 2011
|
Dec. 31, 2011
|
|
Segment Reporting Information [Line Items] | |||||
Revenue | $ 2,135,386 | $ 1,358,931 | $ 3,672,927 | $ 2,782,103 | |
Operating income (loss) | (1,738,978) | (760,744) | (2,683,629) | (1,299,165) | |
Net loss | (1,811,630) | (757,739) | (2,836,865) | (1,296,917) | |
Total assets | 11,532,880 | 11,532,880 | 8,525,433 | ||
Hospitality
|
|||||
Segment Reporting Information [Line Items] | |||||
Revenue | 1,904,531 | 1,121,785 | 3,203,158 | 2,321,817 | |
Operating income (loss) | (1,226,686) | (404,658) | (1,932,633) | (735,063) | |
Net loss | (1,213,399) | (366,544) | (1,924,388) | (669,494) | |
Total assets | 6,197,470 | 6,197,470 | |||
Residential
|
|||||
Segment Reporting Information [Line Items] | |||||
Revenue | 230,855 | 237,146 | 469,769 | 460,286 | |
Operating income (loss) | (57,966) | (15,956) | (66,515) | (21,812) | |
Net loss | (57,966) | (15,956) | (66,515) | (21,812) | |
Total assets | 231,633 | 231,633 | |||
Corporate
|
|||||
Segment Reporting Information [Line Items] | |||||
Revenue | |||||
Operating income (loss) | (454,326) | (340,130) | (684,481) | (542,290) | |
Net loss | (540,265) | (375,239) | (845,962) | (605,611) | |
Total assets | $ 5,103,777 | $ 5,103,777 |
Line of Credit (Details 3) (Revolving Credit Facility Security and Warrant Purchase Agreement, Cenfin LLC, USD $)
|
0 Months Ended | 6 Months Ended |
---|---|---|
Jul. 15, 2010
|
Jun. 30, 2012
|
|
Revolving Credit Facility Security and Warrant Purchase Agreement | Cenfin LLC
|
||
Line of Credit Facility [Line Items] | ||
Cenfin LLC beneficially owns common stock and warrants percentage | 50.00% | |
Exercise price of the warrants | $ 2.00 | $ 2.00 |
Warrants issued at specified rate | 5,000,000 | 5,000,000 |
Warrants issued at market price | $ 4,712,000 |
Organization and Significant Accounting Policies (Detail Textuals 2) (Customer, Hospitality)
|
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2012
customers
|
Jun. 30, 2011
customers
|
Jun. 30, 2012
customers
|
Jun. 30, 2011
customers
|
|
UNITED STATES
|
||||
Concentration Risk [Line Items] | ||||
Number of customers accounted credit risk | 2 | 2 | 4 | 2 |
Canada
|
||||
Concentration Risk [Line Items] | ||||
Number of customers accounted credit risk | 1 | 2 | 1 | 1 |
Revenue | UNITED STATES
|
||||
Concentration Risk [Line Items] | ||||
Concentrations of credit risk, One | 18.00% | 22.00% | 11.00% | 12.00% |
Concentrations of credit risk, Two | 11.00% | 18.00% | 11.00% | 11.00% |
Concentrations of credit risk, Three | 11.00% | |||
Concentrations of credit risk, Four | 11.00% | |||
Revenue | Canada
|
||||
Concentration Risk [Line Items] | ||||
Concentrations of credit risk, One | 55.00% | 49.00% | 53.00% | 52.00% |
Concentrations of credit risk, Two | 11.00% |
Equity (Details 1) - Outstanding warrants (Warrant, USD $)
|
6 Months Ended |
---|---|
Jun. 30, 2012
|
|
Warrant
|
|
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward] | |
Outstanding at January 1, 2012 | 726,550 |
Granted and Issued | 890,000 |
Expired/Cancelled | (70,000) |
Outstanding and exercisable at June 30, 2012 | 1,546,550 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |
Outstanding at January 1, 2012 | $ 2.21 |
Granted and Issued | $ 3.26 |
Expired/Cancelled | $ 3.00 |
Outstanding and exercisable at June 30, 2012 | $ 2.79 |
Outstanding and exercisable at June 30, 2012 | 2 years 2 months |
Outstanding and exercisable at June 30, 2012 | $ 426,300 |
Inventory
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2012
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventory | 3. Inventory
Inventory, principally large order quantity items which are required for the Company’s media and entertainment installations, is stated at the lower of cost (first-in, first-out) basis or market. The Company maintains only the inventory necessary for contemplated installations. Work in progress represents the cost of equipment and third party installation related to installations which were not completed prior to year-end.
The Company performs an analysis of slow-moving or obsolete inventory periodically and any necessary valuation reserves, which could potentially be significant, are included in the period in which the evaluations are completed. As of June 30, 2012 and December 31, 2011, the inventory impairment was mainly from raw materials, and results in a new cost basis for accounting purposes.
Inventory balances as of June 30, 2012 and December 31 2011 are as follows:
|