Description of Business

3 Months Ended

Mar. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business

Description of Business

Textura Corporation (the ‘‘Company’’) was originally formed as a Wisconsin limited liability company (Textura, LLC) in 2004 and converted to a Delaware corporation in 2007. The Company provides on-demand business collaboration software solutions to the commercial construction industry. The Company’s solutions increase efficiency, permit better risk management, provide better visibility and control of construction activities to clients and address several mission-critical business processes at various stages of the construction project life cycle.

The Company is subject to a number of risks similar to other companies in a comparable stage of growth including, but not limited to, reliance on key personnel, the ability to access capital to support future growth, successful marketing of its solutions in an emerging market, and competition from other companies with potentially greater technical, financial and marketing resources. The Company has incurred significant losses and negative cash flows from operations and continues to devote the majority of its resources to the growth of the Company’s business. The Company has an accumulated deficit of $191,998 as of March 31, 2014.

To date, the Company’s activities have been financed primarily through the issuance of debentures, commercial debt, and the sale of equity securities.

On May 1, 2014, the Company's Board of Directors approved a change in fiscal year end from September 30 to December 31. The decision to change the fiscal year end to coincide with the calendar year end is intended to improve comparability with industry peers and better align the Company's reporting and planning cycle with the construction industry. This change is effective for the current fiscal year end. Accordingly, the Company's next Annual Report on Form 10-K will be for the fiscal year ending December 31, 2014. The Company filed a Transition Report on Form 10-Q for the three months ended December 31, 2013 with the Securities and Exchange Commission on May 9, 2014.