 |
| | Business Summary: CopSync, Inc. engages in the development of software designed to enhance productivity and quality, and to create safer work environment for the work of the public safety community through real-time, in-car, public safety offense and incident data collection and sharing. | | | Address
2010 FM 2673
Canyon Lake
, TX 78133
Phone: 830-964-3838
Fax: 830-964-3873
Website: http://www.copsync.com
| | Auditor |
|---|
Chisholm Bierwolf Nilson & Morrill
| | Transfer Agent |
|---|
Nevada Agency & Trust Co.
| Employees: 20
ShareHolders: 102 | Founded: 2006
Domicile: Delaware | | | |
| | CopSync, Inc. engages in the development of software designed to enhance productivity and quality, and to create safer work environment for the work of the public safety community through real-time, in-car, public safety offense and incident data collection and sharing. The company offers COPsync, an integrated data collection and sharing software product that provides real-time in-car information sharing for various law enforcement officers using its product. CopSync, Inc. was founded in 2005 and is headquartered in Canyon Lake, Texas. | | History: INCORPORATED in Delaware Oct. 23, 2006, as Global Advance Corp.; name changed to Copsync, Inc. Apr. 8, 2008. On Apr. 25, 2008, the company acquired 100% of the ownership interests in PostInk Technology, LP for 25,000,005 Common shares (post split), 100,000 Series A Preferred shares and warrants to purchase 74,423,069 Common shares (post split). The acquisition agreement also called for the cancellation of 29,388,750 Common shares held by the company's existing stockholders, but only 26,638,750 shares were actually turned over for cancellation. In 2009, an additional 1,000,000 of the remaining shares were recovered by the company and were cancelled.
PostInk Technology, LP was formed as a Texas limited partnership on Jan. 5, 2005. | | | | Subsidiaries: |
|---|
PostInk Technology, LP
| | | | | | | | | |
|
Management
|
|---|
| Officers | Position |
|---|
| Russell D. Chaney | Chairman, Chief Financial Officer & Chief Executive Officer | | Jason Shane Rapp | President, Chief Technology Officer, Treasurer & Secretary | | David Zazoff | Investor Relations Contact |
| | Directors |
|---|
| Russell D. Chaney | | Joel Hochberg | | Jason Shane Rapp | | | |
| | | | Capitalization as of 12/31/2009: | | | | | Authorized Shares | Outstanding Shares |
|---|
| Series A Preferred $0.0001 par | 100,000 | 100,000so1 | | Series B Preferred $0.0001 par | 400,000 | 362,500so2 | | Common $0.0001 par | 500,000,000 | 126,086,967 |
| | | | LONG TERM DEBT: $47,692. | | | | Common $0.0001 par | | | |
Stockholders:
03/03/2010,
102.
| | PRINCIPAL STOCKHOLDERS: March 15, 2010, the company's management controlled over 68.5% of the voting power. | | | |
Transfer Agent: Nevada Agency & Trust Co.
Reno
, NV | | | | OTC Bulletin Board( Primary): COYN | | | | Exchange | Year | High | Low |
|---|
| OTC Bulletin Board | 2009 | 0.7600 | 0.0600 | | OTC Bulletin Board | 2008 | 1.3500 | 0.2500 |
|
| | | | DIVIDENDS: Common $0.0001 par: No cash.
Common split 15-for-1, Apr. 28, 2008. | | | | | |
so1Closely held. | |
so2Each Ser. B share is convertible into 40 Common shares. | |
| | Annual Report |
|---|
| | | Income Statement | |
| 2009 | 2008 |
|---|
| Revenues | 278 | 4 | | Cost of revenues | 696 | 64 | | Gross profit | (418) | (60) | | Operating exps. | 1,747 | 527 | | Depr. & amort. | 31 | 18 | | Interest income | 3 | 1 | | Interest exp. | 284 | 26 | | Induced conversion exp. | 107 | -- | | Net income | (2,584) | (630) | | Share earns. basic | (0.03) | (0.01) | | Share earns. diluted | (0.03) | (0.01) | | Avge. com. shs. | 121,494 | 112,670 |
| | | | Balance Sheet | |
| 2009 | 2008 |
|---|
| Assets: |
|
| | Cash & equiv. | 1,142 | 209 | | Accts. rec., net | 40 | -- | | Prepaid exps. | 15 | -- | | Tot. curr. assets | 1,197 | 209 | | Lease deposit | 1 | 1 | | Net property | 95 | 89 | | Debt issuance costs | 17 | -- | | Software costs | 2,345 | 2,127 | | Investments | 50 | -- | | Total assets | 3,705 | 2,426 | | Liabilities: |
|
| | Notes pay. | 485 | 427 | | Pfd. divds. pay. | 22 | -- | | Accts. pay. & accruals | 509 | 78 | | Defr. revenues | 169 | -- | | Tot. curr. liabs. | 1,184 | 505 | | Defr. revenues | 364 | -- | | Long-term debt | 48 | 25 | | Pfd. stk. | Nil | Nil | | Com. stk. to be issued | 20 | -- | | Com. stk. | 13 | 12 | | Paid-in cap. | 6,778 | 3,528 | | Accumulated deficit | (4,702) | (1,642) | | Total liabs. and equity | 3,705 | 2,426 |
| | | |
| | Interim Report
|
|---|
| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
|
|---|
| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
|
|---|
| | | Quarterly Revenue, US$ |
|---|
| Year | Quarter | Revenue | | 2010 |
1 | 310,000 | | 2009 |
1 | Nil | | 2009 |
2 | 60,000 | | 2009 |
3 | 8,000 | | 2009 |
4 | 260,000 | | 2009 |
Full Year
| 280,000 | | 2008 |
1 | Nil | | 2008 |
2 | Nil | | 2008 |
3 | Nil | | 2008 |
Full Year
| 4,000 | | 2007 |
1 | Nil | | 2007 |
2 | Nil | | 2007 |
3 | Nil | | 2007 |
Full Year
| Nil |
| | | | | | Quarterly Net Income, US$ |
|---|
| Year | Quarter | Revenue | | 2010 |
1 | (620,000) | | 2009 |
4 | (1,170,000) | | 2009 |
Full Year
| (2,580,000) | | 2008 |
Full Year
| (630,000) | | 2007 |
Full Year
| (570,000) | | 2006 |
Full Year
| N/A |
| | | | | | Quarterly EPS, US$ |
|---|
| Year | Quarter | Revenue | | 2010 |
1 | (.01) | | 2009 |
1 | Nil | | 2009 |
2 | Nil | | 2009 |
3 | Nil | | 2009 |
4 | (.01) | | 2009 |
Full Year
| (.03) | | 2008 |
1 | Nil | | 2008 |
2 | (.01) | | 2008 |
3 | (.01) | | 2008 |
4 | Nil | | 2008 |
Full Year
| (.01) | | 2007 |
1 | Nil | | 2007 |
2 | (.01) | | 2007 |
3 | (.01) | | 2007 |
4 | Nil | | 2007 |
Full Year
| (.01) |
| | | |
| |
|
