OTC Bulletin Board

S & P Company Insight for EROOMSYSTEM TECH INC
 
 Profile

 
Business Summary: eRoomSystem Technologies, Inc. and its subsidiaries engage in the development and installation of eRoomSystem, an in-room computerized platform and communications network for the lodging industry.
 
Address
  1072 Madison Avenue
  Lakewood , NJ 08701-2650
  Phone: 732-730-0116
  Fax: 732-810-0380
  Website: http://www.eroomsystem.com
Transfer Agent
  American Stock Transfer & Trust Co.
Employees:  2
ShareHolders:  400
Founded:  1993
Domicile:  Nevada
 
  
 
 Background

 
eRoomSystem Technologies, Inc. and its subsidiaries engage in the development and installation of eRoomSystem, an in-room computerized platform and communications network for the lodging industry. The company's eRoomSystem is a computerized platform and processor-based system, which is installed within its eRoomServ refreshment centers, and is designed to collect and control data. Its eRoomServ refreshment centers consist of the eRoomSystem, a refrigeration unit, electronic controls, LCD display, and vending racks. The company offers eRoomSafe, an electronic in-room safe; eRoomTray, an in-room ambient tray for dry goods; and eRoomEnergy, an in-room digital thermostat that is designed to control fan coil unit or packaged-terminal air conditioner found in hotel rooms. It also provides eRoomData Management that collects information regarding the usage of eRoomServ refreshment centers on a real-time basis. As of December 31, 2007, eRoomSystem Technologies had approximately 10,000 eRoomServ refreshment centers and approximately 6,000 eRoomSafes installed at approximately 30 hotel properties. The company, formerly known as InnSyst! Corporation, was founded in 1993 and is headquartered in Lakewood, New Jersey.
History:  INCORPORATED in Nevada Aug. 31, 1999 as RoomSystems International Corp. (RSIC), a wholly owned subsidiary of RoomSystems, Inc. (RSI; originally incorporated in North Carolina Mar. 17, 1993 as InnSyst! Corp. and reincorporated in Nevada Apr. 17, 1996). On Apr. 29, 1996, RSI and RoomSystems Finance Corp. (RSF) entered into a Reorganization Plan and Merger Agreement whereby RSF became a wholly owned subsidiary of RSI. On Oct. 15, 1997, the operations of RSF were effectively transferred to RSI and RSF was dissolved. As of Dec. 31, 1999, RSI, RSIC and their shareholders entered into an Agreement and Plan of Reorganization whereby RSI became a wholly owned subsidiary of RSIC. On Mar. 29, 2000, RSIC changed its name to eRoomSystem Technologies, Inc.
 
Subsidiaries:
eRoomSystem Services, Inc.
eRoomSystem SPE, Inc.
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2007  0
  2006  4
  2005  2
 
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2007  9
  2006  0
  2005  2
 
  
 
 Management

 

Management
OfficersPosition
 David A. GestetnerChairman, President, Secretary, Chief Accounting Officer, Investor Relations Contact, Chief Executive Officer & Chief Financial Officer
 Daniel  BirdChief Operating Officer

Directors
 David A. Gestetner
 Herbert  Hardt
 James C. Savas
 Lawrence K. Wein
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20082007
REVENUES
Product Sales134,368127,441
Maintenance Fees222,816254,428
Revenue-sharing Arrangements555,571792,281
Total Revenues912,7551,174,150
EXPENSES
Revenue-sharing Arrangements(240,871)(382,820)
Maintenance(79,493)(58,349)
Product Sales(31,858)(28,431)
Selling, General and Administrative Expenses(468,700)(412,919)
Research and Development(81,673)(8,678)
Loss on Impairment of Refreshment Centers(64,835)-
Interest and Other Income126,906110,768
Gain on Forgiveness of Liabilities and Debt-8,500
Earnings before Taxes72,231402,221
TAXES AND OTHER EXPENSES
Net Income (Loss)72,231402,221
SUPPLEMENTARY INFO
Gross Profit/loss495,698.00704,550.00
Operating Income (Loss)72,231.00393,721.00
Basic Eps-continuing Operations-0.02
Diluted Eps-continuing Operations-0.02
 
Balance Sheet
  20082007
CURRENT ASSETS
Cash and Cash Equivalents2,135,814355,970
Marketable Securities, Available-for-sale-1,998,002
Accounts Receivables124,897182,416
Notes Receivable512,603-
Prepaid Expenses114,51210,831
Total Current Assets2,887,8262,547,219
NON CURRENT ASSETS
Computer Equipment and office Equipment9,5913,261
Refreshment Centers in Service98,389434,609
Investment in Marketable Securities14,07514,075
Notes Receivable183,159159,166
Deposits2,2502,432
Total Assets3,195,2903,160,762
CURRENT LIABILITIES
Accounts Payable51,68749,070
Accrued Liabilities52,53471,289
Deferred Revenue7,34610,462
Customer Deposits2,004-
Total Current Liabilities113,571130,821
SHAREHOLDERS' EQUITY
Common Stock-par Value24,04823,973
Additional Paid in Capital34,042,24833,792,008
Treasury Stock-common(38,453)-
Accumulated Deficit(31,010,396)(31,082,628)
Accumulated Other Comprehensive Loss(50,000)(50,000)
Warrants and Options Outstanding114,273346,585
Total Shareholders Equity3,081,7193,029,941
Total Liabilities & Shareholders Equity3,195,2903,160,762
 
  
 
 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   1260,000
  2008   2280,000
  2008   3170,000
  2008   4200,000
  2008   Full Year 910,000
  2007   1290,000
  2007   2340,000
  2007   3320,000
  2007   4230,000
  2007   Full Year 1,170,000
  2006   1410,000
  2006   2310,000
  2006   3310,000
  2006   4310,000
  2006   Full Year 1,340,000
  2005   1360,000
  2005   2390,000
  2005   3410,000
  2005   4400,000
  2005   Full Year 1,560,000
  2004   1360,000
  2004   2370,000
  2004   3410,000
  2004   4460,000
  2004   Full Year 1,590,000
  2003   1390,000
  2003   2390,000
  2003   3330,000
  2003   4420,000
  2003   Full Year 1,500,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2008   10
  2008   220,000
  2008   310,000
  2008   440,000
  2008   Full Year 70,000
  2007   190,000
  2007   2120,000
  2007   3150,000
  2007   440,000
  2007   Full Year 400,000
  2006   120,000
  2006   270,000
  2006   330,000
  2006   Full Year 162,100
  2005   17,320,000
  2005   270,000
  2005   3(40,000)
  2005   Full Year 160,500
  2004   1410,000
  2004   2250,000
  2004   370,000
  2004   Full Year 900,100
  2003   1(490,000)
  2003   2(440,000)
  2003   3(570,000)
  2003   Full Year (1,721,800)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2008   4Nil
  2008   Full Year Nil
  2007   1Nil
  2007   2.01
  2007   3.01
  2007   4Nil
  2007   Full Year .02
  2006   1Nil
  2006   2Nil
  2006   3Nil
  2006   4Nil
  2006   Full Year .01
  2005   1Nil
  2005   2Nil
  2005   3Nil
  2005   4.01
  2005   Full Year .01
  2004   1.02
  2004   2.01
  2004   3Nil
  2004   4.01
  2004   Full Year .04
  2003   1(.04)
  2003   2(.04)
  2003   3(.05)
  2003   4(.02)
  2003   Full Year (.16)
 
  
 
 Stock Data

 
 
Capitalization as of 03/31/2008:
 
 Authorized SharesOutstanding Shares
Common $0.001 par50,000,00023,973,165
Preferred $0.001 par5,000,000None
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
COMMON OFFERED: August 2, 2000, the company, through underwriters led by Donald & Co. Securities Inc., offered 1,800,000 Common shares at $6.50 a share; comm., $0.504 a share. An additional 270,000 were available to cover over-allotments.
 
Stockholders:  02/01/2008, 400.
PRINCIPAL STOCKHOLDERS: February 1, 2008, David A. Gestetner owned or controlled 21.5% of the Common, James C. Savas 16.8%, and Ash Capital, LLC 16.1%.
 
Transfer Agent:  American Stock Transfer & Trust Co.   New York , NY
 
OTC Bulletin Board( Primary): ERMS
 
ExchangeYearHighLow
OTC Bulletin Board20080.27000.1000
OTC Bulletin Board20070.25000.0900
OTC Bulletin Board20060.29500.1100
OTC Bulletin Board20050.48000.1700
OTC Bulletin Board20040.44000.1500
OTC Bulletin Board20030.34000.0600
NASDAQ Small Cap20022.45000.0800
NASDAQ Small Cap20012.93750.0700
NASDAQ Small Cap20006.50001.0000
 
DIVIDENDS: Common $0.001 par: No cash. Common reverse split 3-for-4, Mar. 29, 2000.