HYDROMER INC

CIK:0000704432|SEC Filings

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
Condensed Consolidated Statements of Operations (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011
Revenues
Sales of Products	$ 681,321	$ 744,189	$ 1,277,403	$ 1,501,239
Service Revenues	335,167	371,248	656,938	721,647
Royalties and contract revenues	315,140	277,271	663,777	618,419
Total Revenues	1,331,628	1,392,708	2,598,118	2,841,305
Expenses
Cost of Sales	405,097	422,119	765,246	838,131
Operating Expenses	938,745	1,037,556	1,900,213	2,142,881
Other (Income) Expenses	(67,665)	54,981	(17,344)	106,240
Provision for (Benefit from) Income Taxes	22,078	(46,862)	(5,548)	(84,672)
Total Expenses	1,298,255	1,467,794	2,642,567	3,002,580
Net Income (Loss)	$ 33,373	$ (75,086)	$ (44,449)	$ (161,275)
Income (Loss) Per Common Share	$ 0.01	$ (0.02)	$ (0.01)	$ (0.03)
Weighted Average Number ofCommon Shares Outstanding	4,772,318	4,772,318	4,772,318	4,772,318

Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended
Condensed Consolidated Statements of Cash Flows (USD $)	Dec. 31, 2012	Dec. 31, 2011
Cash Flows from Operating Activities:
Net Loss	$ (44,449)	$ (161,275)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Depreciation and Amortization	197,967	209,654
Deferred income taxes	(7,548)	(86,672)
Changes in Assets and Liabilities
Trade receivables	179,154	(42,490)
Inventory	(36,962)	135,578
Prepaid expenses	33,884	44,669
Other assets	(142,867)	7,305
Accounts payable and accrued liabilities	9,215	(73,545)
Deferred income	(33,158)	(106,291)
Income taxes payable	(2,000)	(2,000)
Net Cash Provided by (Used in) Operating Activities	153,236	(75,067)
Cash Flows from Investing Activities:
Cash purchases of property and equipment	(28,667)	(31,880)
Cash payments on patents and trademarks	(81,977)	(57,756)
Redemption of matured short-term investments		50,000
Net Cash Used in Investing Activities	(110,644)	(39,636)
Cash Flows from Financing Activities:
Repayment of long-term borrowings	(28,628)	(26,733)
Net Cash Used in Financing Activities	(28,628)	(26,733)
Net Increase (Decrease) in Cash and Cash equivalents	13,964	(141,436)
Cash and Cash equivalents, Beginning of Period	280,878	502,597
Cash and Cash equivalents, End of Period	$ 294,842	$ 361,161

Condensed Consoldiated Balance Sheets (USD $)	Dec. 31, 2012	Jun. 30, 2012
ASSETS
Cash and cash equivalents	$ 294,842	$ 280,878
Trade Receivables less allowance for doubtful accounts of $7,255 and $5,622 as of December 31, 2012 and June 30, 2012, respectively	814,224	993,378
Inventory	346,331	309,369
Prepaid Assets	170,472	207,207
Other	117,603	3,485
Total Current Assets	1,743,472	1,794,317
Property and Equipment, net	2,601,900	2,682,221
Deferred tax asset, non-current	1,274,859	1,267,311
Intangible assets, net	746,917	761,519
Other	49,107	20,358
Total Assets	6,416,255	6,525,726
Current Liabilities
Accounts Payable	497,224	385,113
Accrued Expenses	237,626	342,361
Current portion of capital lease	5,887	16,499
Current portion of deferred revenue	126,399	135,323
Current portion of mortgage payable	57,855	55,899
Total Current Liabilities	924,991	935,195
Deferred Tax Liability	251,758	251,758
Long term portion of deferred revenue	121,359	145,593
Long term portion of mortgage payable	2,625,655	2,656,239
Total Liabilities	3,923,763	3,988,785
Common Stock - no par value, authorized 15,000,00 shares; 4,783,235 shares issued and 4,772,318 shares outstanding as of December 31, 2012 and June 30, 2012	3,721,815	3,721,815
Contributed capital	633,150	633,150
Accumulated deficit	(1,856,333)	(1,811,884)
Treasury stock, 10,917 common shares at cost	(6,140)	(6,140)
Total Stockholders' Equity	2,492,492	2,536,941
Total Liabilities and Stockholders' Equity	$ 6,416,255	$ 6,525,726