OP TECH ENVIRONMENTAL SERVICES INC

CIK:0000858748|SEC Filings

Earnings per Share (Details Narrative) (USD $)	1 Months Ended
Earnings per Share (Details Narrative) (USD $)	May 31, 2002	Mar. 31, 2013	Dec. 31, 2012
Earnings (loss) per common share:
Options issued to financial advisor to purchase common stock	480,000
Options issued to financial advisor to purchase common stock, per share	$ 0.066
Face value of convertible notes payable	$ 2,000,000	$ 2,000,000	$ 2,000,000
Convertible Notes, per share	$ 0.06

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Operating activities:
Net loss	$ (54,191)	$ (324,048)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Bad debt recovery	(65,235)	(61,348)
Depreciation and amortization	99,043	136,920
Amortization of discount on convertible notes		41,667
Benefit from deferred income taxes		(233,000)
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:
Accounts receivable	3,451,406	3,289,796
Costs on uncompleted projects applicable to future billings	(18,351)	1,301,238
Billings and estimated profit in excess of costs on uncompleted contracts	210,236	(415,882)
Prepaid expenses, inventory and other assets	421,424	189,887
Other long term assets	3,786	1,842
Accounts payable and accrued expenses	(3,617,278)	(2,469,491)
Accrued future project losses	(12,912)	(813,701)
Net cash provided by operating activities	417,928	643,880
Investing activities:
Purchase of property and equipment	(99,913)	(2,000)
Net cash used in investing activities	(99,913)	(2,000)
Financing activities:
Principal payments on current and long-term borrowings	(507,025)	(514,876)
Net cash used in financing activities	(507,025)	(514,876)
Increase (decrease) in cash	(189,010)	127,004
Cash at beginning of period	1,241,052	412,141
Cash at end of period	1,052,042	539,145
Non-cash item
Non-cash refinancing of insurance	$ 352,218	$ 436,979

CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Current Assets:
Cash	$ 1,052,042	$ 1,241,052
Accounts receivable, net	5,404,439	8,790,610
Costs on uncompleted projects applicable to future billings	352,530	334,179
Inventory	389,345	440,514
Prepaid expenses and other current assets	364,474	382,511
Total Current Assets	7,562,831	11,188,866
Property and equipment, net	1,121,987	1,121,117
Deferred tax asset (Note 8)	200,000	200,000
Other long term assets	112,946	116,732
Total Assets	8,997,764	12,626,715
Current Liabilities:
Accounts payable	1,368,647	4,587,827
Billings in excess of costs and estimated profit on uncompleted projects	1,099,148	888,912
Accrued future losses	3,400	16,312
Accrued expenses and other current liabilities	1,354,666	1,752,764
Note payable to bank under line of credit	4,980,000	5,000,000
Convertible notes payable (Note 5)	2,000,000	2,000,000
Current portion of long-term debt (Note 7)	1,990,379	2,125,186
Total Liabilities	12,796,241	16,371,001
Shareholders' Deficit:
Common stock, par value $.01 per share; authorized 120,000,000 shares; 11,940,373 shares issued and outstanding	119,404	119,404
Additional paid-in capital	7,360,558	7,360,558
Accumulated deficit	(11,278,439)	(11,224,248)
Total Shareholders' Deficit	(3,798,477)	(3,744,286)
Total Liabilities and Shareholders' Equity	$ 8,997,764	$ 12,626,715