OTC Bulletin Board

S & P Company Insight for ELECTRONIC CTL SEC I
 
 Profile

 
Business Summary: Electronic Control Security, Inc., together with its subsidiaries, engages in the design, manufacture, and marketing of electronic security and lighting systems for high threat environments worldwide.
 
Address
  790 Bloomfield Avenue
  Building C
Suite 1
  Clifton , NJ 07012-0677
  Phone: 973-574-8555
  Website: http://www.anti-terrorism.com
Transfer Agent
  Continental Stock Transfer & Trust Co.
Employees:  21
ShareHolders:  195
Founded:  1976
Domicile:  New Jersey
 
  
 
 Background

 
Electronic Control Security, Inc., together with its subsidiaries, engages in the design, manufacture, and marketing of electronic security and lighting systems for high threat environments worldwide. It offers integrated security systems, including computer-based command, control, and communications networks; intrusion detection systems; video motion detection and assessment systems; electronic surveillance systems; ordnance flash detection systems; environmental monitoring systems; and computer intrusion detection equipment. The company also provides consulting services, which consist of risk assessment and vulnerability studies to ascertain a customer's security requirements in developing risk management and mitigation program; product design and engineering services; and support systems integrators and dealer installers. It serves national and local government, chemical and petro-chemical, and energy facilities, as well as commercial transportation centers, border security and border crossing inspection stations, and water and agricultural resources. The company was founded in 1976 and is headquartered in Clifton, New Jersey.
History:  INCORPORATED in New Jersey June 28, 1976 as Environmental Conservation Systems, Inc. Name changed to Electronic Control Security, Inc. June 24, 1986.
 
Subsidiaries:
ECSI International, Inc.
ECSI-DSA, Inc.
ECSI-FOIDS, Inc.
SEM Consultants III, Inc.
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2007  128
  2006  94
  2005  96
 
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2007  141
  2006  207
  2005  286
 
  
 
 Management

 

Management
OfficersPosition
 Arthur  BarchenkoChairman, President, Chief Accounting Officer, Chief Financial Officer & Chief Executive Officer
 Mark R. BarchenkoChief Operating Officer
 Natalie  BarchenkoSecretary, Treasurer & Investor Relations Contact
 Lil  TsipourasController

Directors
 Arthur  Barchenko
 Natalie  Barchenko
 Gordon E. Fornell
 Stephen O. Rossetti
 Edward  Snow
 Ron  Thomas
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20072006
Revenues$5,600,598$8,822,090
Cost of revenues4,092,4507,638,097
Gross profit1,508,1481,183,993
Research and development141,256207,048
Selling, general and administrative expenses1,848,2972,373,729
Stock based compensation123,705150,337
Loss from operations (605,110)(1,547,121)
Other (income) expense
Interest expense432,505211,238
Interest income --(2,638)
Minority interest in subsidiary loss (4,464)(37,802)
Amortization of beneficial conversion feature on convertible debt71,71418,186
Total other (income) expense499,755188,984
Net loss before dividends(1,104,865)(1,736,105)
Dividends related to convertible preferred stock100,050285,903
Net loss attributable to common shareholders $(1,204,915)$(2,022,008)
Net loss per share:
Basic ($0.14)($0.24)
Diluted ($0.14)($0.24)
Weighted average number of common shares8,820,4508,384,312
 
Balance Sheet
  20072006
ASSETS
Current assets
Cash and cash equivalents$58,107$25,013
Accounts receivable, current portion, net of allowance919,6711,360,309
Accounts receivable, retainage797,888973,967
Inventories2,161,5492,303,889
Other current assets358,122231,980
Total current assets4,295,3374,895,158
Property, equipment and software development costs - net448,470396,827
Intangible assets - net1,281,6121,364,857
Accounts receivables, non-current portion73,923308,148
Goodwill50,00050,000
Deferred income taxes442,300478,300
Other assets156,614180,627
Total assets$6,748,256$7,673,917
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Accounts payable and accrued expenses$1,982,336$1,958,123
Short-term debt--518,866
Current maturities of long-term debt100,84133,000
Payroll taxes payable79921,314
Total current liabilities2,083,9762,531,303
Noncurrent liabilities
Long-term debt35,83121,160
8% Convertible debentures369,983546,770
Due to officers and shareholders622,655616,423
Deferred income taxes48,50084,500
Total liabilities3,160,9453,800,156
Shareholders' equity
Series A Convertible Preferred stock, cumulative, $.01 par value, 325,000 shares 3,2503,250
Series B 10% Convertible Preferred stock, cumulative, $.001 par value, 791 shares 11
Common Stock, $.001 par value, 9,640,267 and 8,723,601 shares9,7408,823
Additional paid-in capital12,118,26011,200,712
Accumulated deficit(8,538,730)(7,333,815)
Accumulated other comprehensive income4,7904,790
Treasury stock, at cost, 100,000 shares (10,000)(10,000)
Total shareholders' equity3,587,3113,873,761
Total liabilities$6,748,256$7,673,917
 
  
 
 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
  2008   2330,000
  2008   3440,000
  2007   12,720,000
  2007   21,050,000
  2007   3700,000
  2007   Full Year 5,600,000
  2006   11,520,000
  2006   22,540,000
  2006   3980,000
  2006   Full Year 8,820,000
  2005   1960,000
  2005   21,000,000
  2005   33,350,000
  2005   Full Year 5,970,000
  2004   1630,000
  2004   2380,000
  2004   3450,000
  2004   Full Year 2,060,000
  2003   1810,000
  2003   21,170,000
  2003   33,230,000
  2003   Full Year 4,350,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2008   2(410,000)
  2008   30
  2007   1(200,000)
  2007   2(20,000)
  2007   3(210,000)
  2007   Full Year (1,100,000)
  2006   1(360,000)
  2006   2(70,000)
  2006   3(610,000)
  2006   Full Year (1,736,100)
  2005   1(190,000)
  2005   2(220,000)
  2005   3(310,000)
  2005   Full Year (122,200)
  2004   1(100,000)
  2004   2(380,000)
  2004   3(160,000)
  2004   Full Year (1,118,700)
  2003   1(80,000)
  2003   20
  2003   3(330,000)
  2003   Full Year (559,300)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   2(.04)
  2008   3Nil
  2007   1(.03)
  2007   2(.01)
  2007   3(.03)
  2007   Full Year (.14)
  2006   1(.07)
  2006   2(.01)
  2006   3(.07)
  2006   Full Year (.24)
  2005   1(.04)
  2005   2(.04)
  2005   3(.07)
  2005   Full Year (.05)
  2004   1(.02)
  2004   2(.09)
  2004   3(.03)
  2004   Full Year (.49)
  2003   1(.05)
  2003   2Nil
  2003   3(.08)
  2003   Full Year (.16)
 
  
 
 Stock Data

 
 
Capitalization as of 06/30/2007:
 
 Authorized SharesOutstanding Shares
Series A Conv. Preferred $0.01 par5,000,000325,000so1
Series B Conv. Preferred $0.001 par2,000791so2
Common $0.001 par30,000,0009,640,267so3
 
LONG TERM DEBT: $405,814.
 
Common $0.001 par
 
Stockholders:  09/25/2007, 195.
Transfer Agent:  Continental Stock Transfer & Trust Co.   New York , NY
 
OTC Bulletin Board( Primary): EKCS
 
ExchangeYearHighLow
OTC Bulletin Board20071.13000.3300
OTC Bulletin Board20061.15000.3300
OTC Bulletin Board20052.50000.8500
OTC Bulletin Board20043.20000.5900
OTC Bulletin Board20031.80000.2600
OTC Bulletin Board20023.10000.4200
OTC Bulletin Board20013.00000.2500
OTC Bulletin Board20002.25000.3700
OTC Bulletin Board19990.50000.0620
OTC Bulletin Board19980.37500.0100
 
DIVIDENDS: Common $0.001 par: No cash. 5% stock Oct. 15, 2001.
 
 
  so1Closely held. Liquidation preference, $2 per share plus dividends. Each 0.88 share is convertible into one Common share.
  so2Closely held. Liquidation preference, $1,000 per share plus dividends. Each share is convertible into 1,000 Common shares.
  so3Excl. 100,000 in treas.