OTC Bulletin Board

S & P Company Insight for BROADCAST INTL INC
 
 Profile

 
Business Summary: Broadcast International, Inc. engages in the installation, management, and support of private communication networks for large organizations in the United States.
 
Address
  7050 Union Park Avenue
  Suite 600
  Salt Lake City , UT 84047
  Phone: 801-562-2252
  Fax: 801-562-1773
  Website: http://www.brin.com
Auditor
  HJ & Associates, LLC
  Salt Lake City , UT
Transfer Agent
  Interwest Transfer Co. Inc.
Employees:  49
ShareHolders:  1400
Founded:  1983
Domicile:  Utah
 
  
 
 Background

 
Broadcast International, Inc. engages in the installation, management, and support of private communication networks for large organizations in the United States. The company provides network-based services, such as network design and engineering, equipment and installation, network management, help desk services, on-site maintenance and service, full-time or occasional satellite transponder purchases, and uplink facilities or remote SNG uplink trucks. It also offers streamed video hosting services, which comprise dedicated server space, high-speed and redundant Internet connection, secure access, seamless links from client's Website, customized link pages and media viewers, testing or self-checks, interactive discussion threads, participation/performance reports for managers/administrators, notification of participants through email, pay-per-view or other e-commerce applications, live events, and technical support. In addition, the company provides production and content development services, including in-studio or on-location video/audio production, editing/post-production, instructional design, video/audio encoding for Internet delivery, conversion of text or PowerPoint to HTML, alternative language conversion, and access to off-the-shelf video training content. Further, it owns CodecSys, a video compression technology that converts video content into digital data stream for transmission over satellite, cable, Internet, or wireless networks; sells network products; and offers audio and video production services. The company's enterprise clients use its networks to deliver training programs, product announcements, entertainment, and other communications to their employees and customers. Broadcast International, Inc. was founded in 1999 and is based in Salt Lake City, Utah.
History:  INCORPORATED in Utah Jan. 12, 1983, as Laser Corp. Name changed to Broadcast International, Inc. Jan. 13, 2004, in connection with the acquisition of BI Acquisitions, Inc. for 17,210,268 (post split) Common shares. BI Acquisitions was organized in December 1999 and began operations in January 2000.
 
Subsidiaries:
BI Acquisitions, Inc.
Interact Devices, Inc.
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2009  2,544
  2008  1,899
  2007  455
 
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2009  3,584
  2008  5,083
  2007  1,275
 
  
 
 Management

 

Management
OfficersPosition
 William A. BoydChairman
 Rodney M. TiedePresident & Chief Executive Officer
 James E. SolomonSecretary, Chief Financial Officer & Chief Accounting Officer
 Ron  BellChief Technology Officer
 David  Van EppsSR VP
 Steven G. JonesSR VP

Directors
 William A. Boyd
 James E. Solomon
 Mark F. Spagnolo
 Rodney M. Tiede
 Ray Phillip Zobrist
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20092008
REVENUES
Net Sales3,627,5713,401,847
EXPENSES
Cost of Sales(3,180,284)(3,378,361)
Selling and Marketing(651,322)(1,348,179)
Administrative and General(5,991,317)(7,974,204)
Depreciation and Amortization(756,481)(500,577)
Research and Development In-process(3,584,019)(5,083,056)
Impairments of Assets-(2,504)
Interest Expense(6,605,988)(5,980,318)
Interest Income19,055351,229
Gains on Sale of Securities208,029-
Unrealized Loss on Long-term Investment-(233,765)
Derivative Liability Valuation Gain3,579,6008,256,623
Other Income/expense(45,533)17,115
Net Income (Loss)(13,380,689)(12,474,150)
SUPPLEMENTARY INFO
Gross Profit/loss447,28723,486
Operating Income (Loss)(10,535,850)(14,885,030)
Loss per share basic and diluted(0.34)(0.32)
 
Balance Sheet
  20092008
ASSETS:
CURRENT ASSETS
Cash and Cash Equivalents263,4923,558,336
Accounts Receivable, Net1,187,660357,221
Inventory105,41028,118
Prepaid Expenses128,042209,636
Total Current Assets1,684,6044,153,311
NON CURRENT ASSETS
Leasehold Improvements382,695377,724
Furniture and Fixtures171,031171,031
Machinery, Equipment6,362,1304,247,575
Accumulated Depreciation(3,104,479)(2,417,715)
Long-term Investments274,2642,416,235
Patents-net177,413185,190
Debt offering Costs447,525906,525
Deposits and Other Assets422,9749,058
Total Assets6,818,15710,048,934
LIABILITIES:
CURRENT LIABILITIES
Accounts Payable2,023,378893,130
Other Accrued Expenses180,695541,435
Payroll and Related Expenses385,349380,162
Current Debt Obligations13,354,170725,812
Unearned Revenue91,729428
Derivative Valuation969,9004,549,500
Other Current Obligations1,238,7793,236
Total Current Liabilities18,243,9967,093,703
NON CURRENT LIABILITIES
Convertible Debt162,5006,730,069
Other Long-term Obligations2,494,5126,937
SHAREHOLDERS' EQUITY
Common Stock - Par Value1,984,5321,938,088
Additional Paid in Capital77,760,81074,727,640
Retained Earnings (Deficit)(93,828,190)(80,447,500)
Total Shareholders Equity(14,082,850)(3,781,775)
Total Liabilities & Shareholders Equity6,818,15710,048,934
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2010   11,790,000
  2009   1380,000
  2009   2330,000
  2009   3810,000
  2009   42,110,000
  2009   Full Year 3,630,000
  2008   11,190,000
  2008   2810,000
  2008   3760,000
  2008   4640,000
  2008   Full Year 3,400,000
  2007   11,600,000
  2007   24,280,000
  2007   3830,000
  2007   41,100,000
  2007   Full Year 4,300,000
  2006   12,780,000
  2006   24,280,000
  2006   33,910,000
  2006   42,920,000
  2006   Full Year 13,890,000
  2005   1980,000
  2005   21,030,000
  2005   31,070,000
  2005   42,340,000
  2005   Full Year 5,380,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2010   1(2,900,000)
  2009   1(650,000)
  2009   2(4,780,000)
  2009   3(3,850,000)
  2009   4(4,110,000)
  2009   Full Year (13,380,000)
  2008   12,160,000
  2008   2(5,560,000)
  2008   3(9,030,000)
  2008   4(40,000)
  2008   Full Year (12,470,000)
  2007   1(4,310,000)
  2007   2(480,000)
  2007   3(6,980,000)
  2007   4(13,770,000)
  2007   Full Year (26,290,000)
  2006   1(4,350,000)
  2006   2(480,000)
  2006   3(2,120,000)
  2006   4(8,640,000)
  2006   Full Year (15,597,900)
  2005   1(790,000)
  2005   2(1,500,000)
  2005   3310,000
  2005   Full Year (5,581,700)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1(.07)
  2009   1(.02)
  2009   2(.12)
  2009   3(.10)
  2009   4(.10)
  2009   Full Year (.34)
  2008   1.05
  2008   2(.14)
  2008   3(.23)
  2008   4Nil
  2008   Full Year (.32)
  2007   1.15
  2007   2(.02)
  2007   3(.23)
  2007   4(.39)
  2007   Full Year (.85)
  2006   1(.19)
  2006   2(.02)
  2006   3(.07)
  2006   4(.28)
  2006   Full Year (.56)
  2005   1(.04)
  2005   2(.07)
  2005   3.01
  2005   4(.03)
  2005   Full Year (.26)
 
  
 
 Stock Data

 
 
Capitalization as of 12/31/2009:
 
 Authorized SharesOutstanding Shares
Common $0.05 par180,000,00039,690,634
Preferred no par10,000,000None
 
LONG TERM DEBT: $162,500.
 
Common $0.05 par
 
Stockholders:  03/20/2010, 1400.
Transfer Agent:  Interwest Transfer Co. Inc.   Salt Lake City , UT
 
OTC Bulletin Board( Primary): BCST
 
ExchangeYearHighLow
OTC Bulletin Board20092.35000.8000
OTC Bulletin Board20084.90001.3000
OTC Bulletin Board20074.90000.8100
OTC Bulletin Board20063.40001.1500
OTC Bulletin Board20054.40002.0000
OTC Bulletin Board200410.25002.2000
OTC Bulletin Board20031.10000.0300
OTC Bulletin Board20021.20000.6600
OTC Bulletin Board20018.56300.7500
OTC Bulletin Board200011.50004.8750
 
RECENT DIVIDENDS: Common $0.05 par: No cash. Common split 5-for-4, Jan. 30, 1998. Common reverse split 1-for-10, Jan. 23, 2004.