OTC Bulletin Board

S & P Company Insight for VIVID LEARNING SYSTM
 
 Profile

 
Business Summary: Vivid Learning Systems, Inc. develops and delivers computer-based compliance training products and services, and interactive communications programs in the United States and internationally. It offers online training programs through its Web site learnatvivid.
 
Address
  723 The Parkway
  Richland , WA 99352
  Phone: 509-943-5319
  Website: http://www.learnatvivid.com
Auditor
  Williams & Webster
Transfer Agent
  Continental Stock Transfer & Trust Co.
Employees:  45
ShareHolders:  326
Founded:  1995
Domicile:  Delaware
 
  
 
 Background

 
Vivid Learning Systems, Inc. develops and delivers computer-based compliance training products and services, and interactive communications programs in the United States and internationally. It offers online training programs through its Web site learnatvivid.com for the general manufacturing, utility, healthcare, mining, food safety, government, and education industries. It markets its products and services directly through an in-house sales team, as well as through channel sales partners, including independent resellers, value-added resellers, associations, and consultants. The company also offers a suite of marketing, advertising, and custom training programs in health care, food processing, science and technology, manufacturing, and mining. As of September 30, 2007, Vivid Learning Systems produced approximately 300 online lessons. The company was incorporated in 1995 and is based in Pasco, Washington.
History:  INCORPORATED in Delaware Dec. 24, 2003; and in December 2003 acquired Vivid Learning Systems, Inc., a Washington corporation (Vivid WA), from Nuvotec, Inc. for 8,100,000 Common shares. Vivid WA was incorporated in Washington Mar. 2, 1995, as Applied Tecknowledgey, Inc.; name changed to Vivid Concepts, Inc. Apr. 3, 1997, and to Vivid Learning Systems, Inc. Feb. 23, 2000.
 
Subsidiaries:
ImageWorks Media Group, Inc.
Vivid Learning Systems, Inc. (Washington)
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2008  71
  2007  54
  2006  37
 
 
  
 
 Management

 

Management
OfficersPosition
 Andrew A. ThoresenChairman
 Matthew J. HammerPresident & Chief Executive Officer
 Robert M. BlodgettSecretary, Treasurer, Chief Financial Officer & Chief Accounting Officer
 Sandra I. MullerGeneral Counsel & Investor Relations Contact

Directors
 Robert L. Ferguson
 William N. Lampson
 Edward C. Reinhart
 Diehl R. Rettig
 Andrew A. Thoresen
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20082007
REVENUES
Custom Products and Services, Fluor Hanford107,796506,972
Training Subscriptions2,614,7662,516,291
Training Subscriptions, Fluor Hanford554,197569,456
Custom Products and Services1,950,4772,463,483
Total Revenues5,227,2366,056,202
EXPENSES
Custom Products and Services(1,283,002)(1,766,757)
Training Subscriptions(902,989)(672,740)
Wages and Contract Labor(382,101)(896,969)
Reseller Commissions(382,897)(394,711)
Marketing and Related Labor Expenses(1,275,948)(1,401,739)
Bad Debts Expenses(14,799)(12,426)
Other Operating Expenses(345,329)(1,100,695)
Depreciation and Amortization(100,315)(738,769)
Interest Expense(35,887)(49,105)
Interest Income4,0991,307
Other Miscellaneous Income175
Gain <loss> on Sale of Equipment and Intangible Assets100(1,733)
Earnings before Taxes508,343(978,135)
TAXES AND OTHER EXPENSES
Provision for Income Tax172,837(332,566)
Net Income (Loss)335,506(645,569)
Basic and Diluted Eps-0.03(0.05)
 
Balance Sheet
  20082007
Assets-
CURRENT ASSETS
Cash132,39180,331
Accounts and Contract Receivables972,1511,157,418
Accounts and Contracts Receivable, Fluor Hanford24,99428,822
Prepaid Expenses185,793120,073
Other Current Assets138,214186,534
Total Current Assets1,453,5431,573,178
NON CURRENT ASSETS
Total Property, Plant and Equipment335,954365,611
Deferred Tax Assets665,596838,433
Long-term Contract Receivables1,32185,202
Goodwill375,000375,000
Software, Net of Amortization1,229,7221,328,424
Total Assets4,061,1364,565,848
CURRENT LIABILITIES
Accounts Payable120,807295,376
Accrued Contract Labor100,933221,374
Note Payable-related Parties25,000350,000
Line of Credit Payable 57,072
Current Portion of Long-term Liabilities108,341106,638
Unearned Revenue100,518118,654
Other Current Liabilities46,811114,667
Total Current Liabilities502,4101,263,781
NON CURRENT LIABILITIES
Long-term Debt134,095182,786
Other Long-term Liabilities116,709170,954
SHAREHOLDERS' EQUITY
Common Stock-par Value1,3371,337
Additional Paid in Capital4,408,5644,384,475
Accumulated Deficit(1,101,979)(1,437,485)
Total Shareholders Equity3,307,9222,948,327
Total Liabilities &amp; Shareholders Equity4,061,1364,565,848
 
  
 
 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   11,300,000
  2008   21,330,000
  2008   31,280,000
  2008   41,310,000
  2008   Full Year 5,230,000
  2007   11,490,000
  2007   21,420,000
  2007   31,500,000
  2007   41,650,000
  2007   Full Year 6,060,000
  2006   11,050,000
  2006   2890,000
  2006   3990,000
  2006   Full Year 4,140,000
  2005   3770,000
  2005   Full Year 3,590,000
  2004   Full Year 4,600,000
  2003   Full Year 3,900,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2008   1130,000
  2008   260,000
  2008   340,000
  2008   4110,000
  2008   Full Year 340,000
  2007   1(50,000)
  2007   2(130,000)
  2007   3(130,000)
  2007   4(340,000)
  2007   Full Year (650,000)
  2006   140,000
  2006   2(160,000)
  2006   3(50,000)
  2006   Full Year (147,021,000)
  2005   3(260,000)
  2005   Full Year (976,800)
  2004   Full Year 290,000
  2003   Full Year 540,000
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   1.01
  2008   2Nil
  2008   3Nil
  2008   4.01
  2008   Full Year .03
  2007   1Nil
  2007   2(.01)
  2007   3(.01)
  2007   4(.03)
  2007   Full Year (.05)
  2006   1Nil
  2006   2(.01)
  2006   3Nil
  2006   Full Year (.01)
  2005   3(.03)
  2005   Full Year (.10)
  2004   Full Year .03
  2003   Full Year .07
 
  
 
 Stock Data

 
 
Capitalization as of 09/30/2008:
 
 Authorized SharesOutstanding Shares
Preferred $0.0001 par5,000,000None
Common $0.0001 par200,000,00013,372,165
 
LONG TERM DEBT: $134,095,000.
 
Common $0.0001 par
 
Stockholders:  10/07/2008, 326.
Transfer Agent:  Continental Stock Transfer &amp; Trust Co.   New York , NY
 
OTC Bulletin Board( Primary): VVDL
 
ExchangeYearHighLow
OTC Bulletin Board20080.35000.0500
OTC Bulletin Board20070.50000.1300
OTC Bulletin Board20061.51000.1700
OTC Bulletin Board20051.25000.2000
 
RECENT DIVIDENDS: Common $0.0001 par: None.