2.4.0.8109 - Disclosure - EQUITYtruefalsefalse1false falsefalsefrom-2012-10-01-to-2013-06-30.1650.0.0.0.0.0.0.0http://www.sec.gov/CIK0000314712duration2012-10-01T00:00:002013-06-30T00:00:001true 1us-gaap_StockholdersEquityNoteAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0EQUITY [Abstract]2false 2us-gaap_StockholdersEquityNoteDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div> <div> NOTE 9- EQUITY   On March 1, 2013, an amendment to the Company's Certificate of Incorporation was filed, decreasing our authorized capital stock from 401,000,000 shares to 201,000,000 shares and our authorized common stock from 400,000,000 shares to 200,000,000 shares.   Common Stock:   On June 30, 2013, the Company issued 61,900 shares of common stock in lieu of a cash payment of $173,890 of interest for the quarter ended June 30, 2013. Pursuant to the terms of the 2011 Notes, these shares of stock were issued at $2.81 per share.   On June 30, 2013, the Company issued 33,028 shares of common stock in lieu of a cash payment of $92,745 of interest for the quarter ended June 30, 2013. Pursuant to the terms of the 2012 Notes, these shares of stock were issued at $2.81 per share.   On June 30, 2013, the Company issued 16,386 shares of common stock in lieu of a cash payment of $45,999 of interest for the quarter ended June 30, 2013. Pursuant to the terms of the December 2012 Notes, these shares of stock were issued at $2.81 per share.   At June 30, 2013, the Company reserved shares of common stock for issuance upon exercise as follows:   <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 50%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="COLOR: black; WIDTH: 80%">Options</td> <td style="COLOR: black; WIDTH: 1%"> </td> <td style="COLOR: black; TEXT-ALIGN: left; WIDTH: 1%"> </td> <td style="COLOR: black; TEXT-ALIGN: right; WIDTH: 17%"> 641,385</td> <td style="COLOR: black; TEXT-ALIGN: left; WIDTH: 1%"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="COLOR: black">Warrants</td> <td style="COLOR: black"> </td> <td style="COLOR: black; TEXT-ALIGN: left"> </td> <td style="COLOR: black; TEXT-ALIGN: right">9,893,203</td> <td style="COLOR: black; TEXT-ALIGN: left"> </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="COLOR: black; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"> Convertible Notes</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt"> </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 1pt solid; COLOR: black; TEXT-ALIGN: right"> 4,668,831</td> <td style="COLOR: black; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">  </td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; COLOR: black; PADDING-BOTTOM: 2.5pt"> Total Shares Reserved</td> <td style="FONT-WEIGHT: bold; COLOR: black; PADDING-BOTTOM: 2.5pt">  </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; COLOR: black; TEXT-ALIGN: left">  </td> <td style="BORDER-BOTTOM: black 2.5pt double; FONT-WEIGHT: bold; COLOR: black; TEXT-ALIGN: right"> 15,203,419</td> <td style="FONT-WEIGHT: bold; COLOR: black; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">  </td> </tr> </table>   Warrants:   As a result of the issuance of shares of common stock as payment of interest on the 2011 Notes, 2012 Notes and December 2012 Notes, the exercise prices of the 2011 Warrants, 2012 Warrants and December 2012 Warrants were adjusted to $4.18, $4.90 and $4.94, respectively.   Pursuant to the Loan and Security Agreement described in Note 8, on June 11, 2013, we issued warrants to Lenders to purchase an aggregate of approximately 400,000 shares of Common Stock of the Company. The warrants are exercisable at $5.00 per share, subject to full ratchet adjustment for issuance below the exercise price, subject to certain exceptions. Additionally, the exercise price may not be adjusted below $1.00. Cashless exercise is permitted if the average trading volume of the Company's Common Stock during at least five (5) of the ten (10) consecutive trading days immediately preceding the date of the notice of exercise is at least 10,000 shares, and will be based upon the average of the last sale price of the Common Stock during such five (5) consecutive trading day period. The warrants expire on June 6, 2018. When these warrants were issued, the fair value of each warrant granted was estimated on the date of grant using the Black-Scholes valuation model. The following weighted assumptions were used: (i) risk free interest rate of 1.12%, (ii) expected life of five years, (iii) dividend rate of 0.00% and (iv) expected volatility of 51.20%. The Company valued these warrants at $897,708, recorded as a discount to long-term debt. This discount will be amortized over the life of the June 2013 Notes or until such time as the notes are repaid, or upon exercise of the warrants. During the nine months ended June 30, 2013, the Company amortized $15,956 of the of debt discount. </div> </div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 false0EQUITYfalseEQUITYUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.boomerangsystems.com/role/Equity12