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AXCESS International, Inc.
Symbol:  AXSI


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Business Summary: Axcess International, Inc. provides dual-active radio frequency identification (RFID) and real time location systems (RTLS) that locate, identify, track, monitor, count, and protect people, property, and vehicles in the United States.
 
Address
  3208 Commander Drive
  Carrollton , TX 75006
  Phone: 972-407-6080
  Fax: 972-407-9085
  Website: http://www.axcessinc.com
Transfer Agent
  American Stock Transfer & Trust Co.
Employees:  19
ShareHolders:  684
Founded:  1981
Domicile:  Delaware
 
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AXCESS International, Inc.
Symbol:  AXSI


Click here for a printable version
Axcess International, Inc. provides dual-active radio frequency identification (RFID) and real time location systems (RTLS) that locate, identify, track, monitor, count, and protect people, property, and vehicles in the United States. The company offers ActiveTag, a multi-use, single-system solution that supports automatic monitoring and tracking applications, including electronic asset protection and asset management, automatic personnel and vehicle access control, and wireless sensing; and Onlinesupervisor software that provides management solutions through reporting, display, and decision and control functions. Its products have applications in automated workforce management solutions, automated fleet access control and data capture solutions, electronic asset protection and tracking, electronic inventory control and tracking, and automatic personnel identification. The company also engages in the development, design, manufacture, and marketing of video security technology and video storage products; and packaging, sale, and marketing of high technology security products. It provides its solutions for homeland security markets, such as air and ground transportation, water treatment facilities, oil and gas, power plants, as well as for data centers, retail/convenience stores, education, healthcare, and enterprise corporate offices. The company sells its products through system integrators, distributors, specialty dealers, catalog sales organizations, and original equipment manufacturers. Axcess International, Inc. was founded in 1981. The company was formerly known as Axcess, Inc. and changed its name to Axcess International, Inc. in 2003. Axcess International, Inc. is based in Carrollton, Texas.
History:  INCORPORATED in Delaware in December 1982, as successor to a company incorporated in New Mexico June 7, 1982; business founded Oct. 26, 1981. Name changed from Lasertechnics, Inc. to AXCESS Inc. Apr. 2, 1998; and to AXCESS International, Inc. in April 2003.
 
Subsidiaries:
Sandia Imaging Systems Corporation
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2007  9
  2006  8
  2005  7
 
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2007  3,168
  2006  1,381
  2005  935
 
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AXCESS International, Inc.
Symbol:  AXSI


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Management
OfficersPosition
 Richard C.E. MorganChairman
 Allan  GriebenowPresident & Chief Executive Officer
 Allan L. FrankSecretary, Chief Accounting Officer & Chief Financial Officer
 Jordan  DarrowInvestor Relations Contact

Directors
 Robert J. Bertoldi
 Paul J. Coleman, Jr.
 Allan  Griebenow
 Robert F. Hussey
 David  Illingworth
 Richard C.E. Morgan
 
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AXCESS International, Inc.
Symbol:  AXSI


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Capitalization as of 03/31/2008:
 
 Authorized SharesOutstanding Shares
Common $0.01 par70,000,00029,489,927
Convertible Preferred $0.01 par10,000,0006,750,111so2
Non-Voting Convertible Common $0.01 par2,250,000None
 
LONG TERM DEBT: $2,858,346.
 
Common $0.01 par
 
Stockholders:  12/31/2007, 684.
Transfer Agent:  American Stock Transfer & Trust Co.   New York , NY
 
OTC Bulletin Board( Primary): AXSI
 
ExchangeYearHighLow
OTC Bulletin Board20071.96001.0100
OTC Bulletin Board20061.47000.8200
OTC Bulletin Board20051.95000.7700
OTC Bulletin Board20043.90001.4000
OTC Bulletin Board20033.00000.3000
OTC Bulletin Board20024.39000.2500
NASDAQ Small Cap20018.45003.1900
NASDAQ Small Cap200011.63003.5000
NASDAQ Small Cap19996.00001.2500
NASDAQ Small Cap19985.00001.2500
 
DIVIDENDS: Common $0.01 par: No cash. Common reverse split 1-for-20, Apr. 2, 1998.
 
 
  so2Consists of shares of Series 2003B, shares of Series 2004 and shares of Series 2005. All series are convertible into Common on a share-for-share basis.
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AXCESS International, Inc.
Symbol:  AXSI


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Annual Report
 
Income Statement
  20072006
Sales$3,412,484$1,501,296
Cost of sales1,478,959837,789
Inventory impairment8,4196,664
Gross profit1,925,106656,843
Expenses:
Research and development3,167,7361,380,875
General and administrative1,773,6781,795,479
Selling and marketing1,609,6101,171,023
Depreciation, amortization and impairment15,66518,805
Operating expenses6,566,6894,366,182
Loss from operations(4,641,583)(3,709,339)
Other income (expense):
Interest expense(330,898)(351,791)
Gain on vendor settlements, statuary write-off and other25,799102,516
Gain on sale of intellectual property----------600,000
Other income (expense), net(305,099)350,725
Net loss(4,946,682)(3,358,614)
Preferred stock dividend requirements
Recurring(318,357)(325,163)
2005 Preferred equity offering----------(1,489,245)
2006 Preferred equity offering----------(645,020)
2006B Preferred equity offering----------(750,000)
2006C Preferred equity offering(2,000,000)----------
2007 Preferred equity offering(2,050,000)----------
Preferred stock dividend requirements(4,368,357)(3,209,428)
Net loss applicable to common stock $(9,315,039)$(6,568,042)
Basic and diluted net loss per share $(0.32)$(0.23)
Weighted average shares of common stock outstanding28,851,32828,329,221
See accompanying notes.
Operating Income As Calculated
Depr. and Amort.
Fixed Charges Coverage:
Available for Fixed Charges
Gross Fixed Charges
Fixed Charges Times Earnings
Fixed Charges Coverages and Preferred Dividends Times Earnings
Capital Expenditures
Research & Development Expenditures
 
Balance Sheet
  20072006
ASSETS
Current assets:
Cash and cash equivalents$59,089$347,361
Accounts receivable -- trade, net of allowance for doubtful accounts of $32,363 and
$16,868 for 2007 and 2006, respectively.257,957252,230
Inventory, net193,405396,305
Prepaid expenses and other77,50692,090
Total current assets587,9571,087,986
Property, plant and equipment, net12,00318,369
Deferred debt issuance costs30,421168,963
Other assets56,4382,934
Total assets$686,819$1,278,252
LIABILITIES AND STOCKHOLDERS DEFICIT
Current liabilities:
Accounts payable$172,278$101,261
Accrued liabilities1,309,9791,121,350
Deferred revenue42,06025,665
Notes payable:
Notes payable (includes $150,000 and $393,787 with a related party in 2007 and 2006,
respectively)150,0003,365,500
Dividends payable125,991138,594
Total current liabilities1,800,3084,752,370
Notes payable to stockholders (includes $393,787 with a related party in 2007)2,858,346------------
Total liabilities4,658,6544,752,370
Commitments and contingencies (Notes 2, 8 and 13)
Stockholders deficit:
Convertible preferred stock, 10,000,000 shares authorized in 2007 and 2006. Without
liquidation preferences; $0.01 par value, 6,860,116 and 7,073,550 shares issued and
outstanding in 2007 and 2006, respectively68,60170,735
Common stock, $.01 par value, 70,000,000 shares authorized in 2007 and 2006; 29,304,927
shares issued and outstanding in 2007 and 28,657,313 shares issued and outstanding in
2006.293,050286,573
Shares of common stock to be issued, 25,000 shares as of December 31, 2007250------------
Additional paid-in capital162,947,266158,184,537
Accumulated deficit(167,281,002)(162,015,963)
Total stockholders deficit(3,971,835)(3,474,118)
Total liabilities and stockholders deficit$686,819$1,278,252
See accompanying notes.
Net Working Capital
Equity per Share
Depr. and Amort. Reserve
Preferred Shares Issued
Common Shares Issued
Treasury Shares - Preferred
Treasury Shares - Common
 
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AXCESS International, Inc.
Symbol:  AXSI


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Interim Report   
 
Data Not Available
 
 
 
 
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AXCESS International, Inc.
Symbol:  AXSI


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Pro Forma Report   
 
Data Not Available
 
 
 
 
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AXCESS International, Inc.
Symbol:  AXSI


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Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2008   1180,000
  2008   2490,000
  2007   11,020,000
  2007   21,660,000
  2007   3280,000
  2007   4450,000
  2007   Full Year 3,410,000
  2006   1450,000
  2006   2350,000
  2006   3370,000
  2006   Full Year 1,500,000
  2005   1240,000
  2005   2210,000
  2005   3210,000
  2005   Full Year 1,080,000
  2004   1210,000
  2004   2230,000
  2004   3300,000
  2004   Full Year 910,000
  2003   1290,000
  2003   2250,000
  2003   3180,000
  2003   4200,000
  2003   Full Year 920,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2008   1(1,640,000)
  2008   2(1,160,000)
  2007   1(1,810,000)
  2007   2(860,000)
  2007   3(1,080,000)
  2007   4(1,200,000)
  2007   Full Year (4,950,000)
  2006   1(630,000)
  2006   2(970,000)
  2006   3(870,000)
  2006   Full Year (3,358,600)
  2005   1(740,000)
  2005   2(940,000)
  2005   3(790,000)
  2005   Full Year (3,256,100)
  2004   1(980,000)
  2004   2(1,060,000)
  2004   3(740,000)
  2004   40
  2004   Full Year (3,416,600)
  2003   1(700,000)
  2003   2(740,000)
  2003   3(1,010,000)
  2003   4(7,120,000)
  2003   Full Year (9,571,700)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   1(.06)
  2008   2(.06)
  2007   1(.14)
  2007   2(.03)
  2007   3(.11)
  2007   4(.04)
  2007   Full Year (.32)
  2006   1(.08)
  2006   2(.06)
  2006   3(.03)
  2006   Full Year (.23)
  2005   1(.11)
  2005   2(.04)
  2005   3(.03)
  2005   Full Year (.24)
  2004   1(.05)
  2004   2(.05)
  2004   3(.03)
  2004   4.00
  2004   Full Year (.16)
  2003   1(.05)
  2003   2(.07)
  2003   3(.06)
  2003   4(.70)
  2003   Full Year (.62)
 
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