OTC Bulletin Board

S & P Company Insight for SMART ONLINE INC
 
 Profile

 
Business Summary: Smart Online, Inc. develops and markets Software-as-a-Service (SaaS) products and services.
 
Address
  2530 Meridian Parkway
  2nd Floor
  Durham , NC 27713
  Phone: 919-765-5000
  Fax: 919-765-5020
  Website: http://www.smartonline.com
Auditor
  CHERRY, BEKAERT & HOLLAND, L.L.P.
Transfer Agent
  Continental Stock Transfer & Trust Co.
Employees:  28
ShareHolders:  198
Founded:  1993
Domicile:  Delaware
 
  
 
 Background

 
Smart Online, Inc. develops and markets Software-as-a-Service (SaaS) products and services. It provides SaaS applications, such as e-commerce applications designed to give customers the ability to conduct their transactions online; and inventory query, shopping cart, financial transactions, shipping, domain name registration, and business to business communication for small businesses, as well as consulting services, such as Website design and launch. The company also offers sales force automation/customer relationship management application to create standardized processes to define their sales approach, create marketing plans, and monitor and guide sales activities; business dashboard application that provides a snapshot of real-time business data in a single view; accounting application, which is targeted for end users to create and maintain their accounting records online in a secure fashion; human resource center application that enables companies to manage their daily human resource needs; calendar application, a full function online calendar; and contacts application that provides users with an online business contact management system. In addition, it provides business consulting, graphics design, Website content syndication, specialized compensation calculations, online order management, domain name registration, personalized e-mail creation, and warehouse order fulfillment. The company sells its products and services primarily through private label marketing partners. Smart Online, Inc. was founded in 1993 and is headquartered in Durham, North Carolina.
History:  INCORPORATED in Delaware Aug. 10, 1993, as American Institute for Financial Research, Inc.; and on Dec. 22, 1995, merged Kinetics Inc., a North Carolina corporation. Name changed to Smart Online, Inc. Dec. 14, 1998.
 
Subsidiaries:
Smart Commerce, Inc.
Smart CRM, Inc.
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2007  77
  2006  8
  2005  379
 
 
  
 
 Management

 

Management
OfficersPosition
 Dror  ZoreffChairman, President & Chief Executive Officer
 Thaddeus J. ShalekChief Financial Officer
 James W. GaytonGeneral Counsel
 Bob  DieterleSR VP
 Scott  WhitakerController
 David K. WaldmanInvestor Relations Contact

Directors
 Amir  Elbaz
 Shlomo  Elia
 Dror  Zoreff
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20092008
REVENUES
License Fees45,00026,250
Hosting Fees156,053259,675
Subscription Fees756,2331,587,942
Professional Services Fees335,0791,859,154
Other Revenues127,137146,158
Total Revenues1,419,5023,879,179
EXPENSES
Cost of Revenues(1,544,861)(2,021,489)
Sales and Marketing(887,999)(1,736,064)
General and Administrative(4,554,435)(4,315,901)
Research and Development(586,254)(1,951,562)
Loss on Impairment of Intangible Assets(626,685)(3,702,141)
Interest Income/expense-net(643,349)(633,014)
Other Income/expense-17,133
Gain on Disposal of Assets-net22,574-
Loss on Legal Settlement(2,139,364)-
Gain on Legal Settlement, Net-411,710
Earnings before Taxes(9,540,871)(10,052,150)
TAXES AND OTHER EXPENSES
Net Income (Loss)(9,540,871)(10,052,150)
SUPPLEMENTARY INFO
Gross Profit/loss(125,359)1,857,690
Operating Income (Loss)(8,897,522)(9,847,978)
Basic & Diluted EPS - Continuing Operations(0.52)(0.55)
 
Balance Sheet
  20092008
CURRENT ASSETS
Cash and Cash Equivalents119,79618,602
Unbilled Receivables-60,000
Accounts Receivable, Net13,056184,930
Prepaid Expenses240,840289,372
Total Current Assets373,692552,904
NON CURRENT ASSETS
Property, Plant and Equipment, Net258,450365,993
Unbilled Receivables-non-current-372,317
Intangible Assets, Net150,0001,180,245
Capitalized Software-net450,782261,221
Other Assets2,4961,736
Prepaid Expenses, Non-current110,700258,301
Total Assets1,346,1202,992,717
CURRENT LIABILITIES
Accounts Payable518,309398,237
Accrued Liabilities -nouri1,802,379-
Accrued Liabilities2,623,959478,917
Current Portion of Notes Payable1,964,2812,341,177
Deferred Revenue40,115323,976
Total Current Liabilities6,949,0433,542,307
NON CURRENT LIABILITIES
Notes Payable9,785,2555,327,211
Deferred Revenue5,60167,353
SHAREHOLDERS' EQUITY
Common Stock - Par Value18,33318,334
Additional Paid in Capital67,036,84066,945,590
Accumulated Deficit(82,448,940)(72,908,080)
Total Shareholders Equity(15,393,780)(5,944,154)
Total Liabilities & Shareholders Equity1,346,1202,992,717
 
  
 
 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   1360,000
  2009   1710,000
  2009   2830,000
  2009   31,040,000
  2009   4(1,170,000)
  2009   Full Year 1,420,000
  2008   11,420,000
  2008   21,730,000
  2008   31,590,000
  2008   4140,000
  2008   Full Year 4,870,000
  2007   1940,000
  2007   21,200,000
  2007   31,430,000
  2007   41,360,000
  2007   Full Year 4,940,000
  2006   11,900,000
  2006   21,330,000
  2006   3750,000
  2006   4700,000
  2006   Full Year 3,650,000
  2005   1250,000
  2005   2410,000
  2005   3340,000
  2005   41,700,000
  2005   Full Year 2,700,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2010   1(920,000)
  2009   1(1,590,000)
  2009   2(1,730,000)
  2009   3(2,870,000)
  2009   4(3,350,000)
  2009   Full Year (9,540,000)
  2008   1(1,830,000)
  2008   2(1,300,000)
  2008   3(1,390,000)
  2008   4(5,300,000)
  2008   Full Year (9,820,000)
  2007   1(1,290,000)
  2007   2(1,210,000)
  2007   3(1,560,000)
  2007   4(1,420,000)
  2007   Full Year (5,510,000)
  2006   1(1,600,000)
  2006   2(30,000)
  2006   3430,000
  2006   Full Year (2,498,100)
  2005   1(290,000)
  2005   2(860,000)
  2005   3(2,180,000)
  2005   4(12,250,000)
  2005   Full Year (15,590,600)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1(.05)
  2009   1(.09)
  2009   2(.09)
  2009   3(.16)
  2009   4(.18)
  2009   Full Year (.52)
  2008   1(.10)
  2008   2(.07)
  2008   3(.08)
  2008   4(.29)
  2008   Full Year (.54)
  2007   1(.08)
  2007   2(.07)
  2007   3(.09)
  2007   4(.08)
  2007   Full Year (.32)
  2006   1(.11)
  2006   2Nil
  2006   3.03
  2006   4(.10)
  2006   Full Year (.16)
  2005   1(.02)
  2005   2(.07)
  2005   3(.17)
  2005   4(.84)
  2005   Full Year (1.20)
 
  
 
 Stock Data

 
 
Capitalization as of 03/31/2010:
 
 Authorized SharesOutstanding Shares
Common $0.001 par45,000,00018,342,542
Preferred $0.001 par5,000,000None
 
LONG TERM DEBT: $10,279,790.
 
Common $0.001 par
 
Stockholders:  04/14/2010, 198.
PRINCIPAL STOCKHOLDER: April 20, 2010, Atlas Capital SA owned or controlled 39.6% of the Common and Doron Roethler 13.2%.
 
Transfer Agent:  Continental Stock Transfer & Trust Co.   New York , NY
 
OTC Bulletin Board( Primary): SOLN
 
ExchangeYearHighLow
OTC Bulletin Board20092.60000.4000
OTC Bulletin Board20083.40001.3200
OTC Bulletin Board20073.00000.5500
OTC Bulletin Board200610.00000.9000
OTC Bulletin Board200511.50000.0500
 
DIVIDENDS: Common $0.001 par: No cash.