Inner Systems (ISYE) 10-K/A 5 Jun 14 2011 FY Annual report (amended) Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2011	Apr. 11, 2012	Jun. 30, 2011
Document And Entity Information [Abstract]	'	'	'
Document Type	'10-K	'	'
Amendment Flag	'false	'	'
Document Period End Date	31-Dec-11	'	'
Document Fiscal Year Focus	'2011	'	'
Document Fiscal Period Focus	'FY	'	'
Entity Registrant Name	'INNER SYSTEMS INC	'	'
Entity Central Index Key	'0001271551	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Entity Common Stock, Shares Outstanding	'	1,000,000	'
Entity Public Float	'	'	$0
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'

Balance_Sheets

Balance Sheets (USD $)	Dec. 31, 2011	Dec. 31, 2010
Current assets	'	'
Cash	$403	$403
Prepaid expenses	1,000	1,000
Total current assets	1,403	1,403
TOTAL ASSETS	1,403	1,403
Current liabilities	'	'
Accrued expenses	116,456	85,136
Notes payable	223,902	223,902
Total liabilities	340,358	309,038
Stockholders' deficit	'	'
Preferred stock, par value $0.001, 5,000,000 shares authorized, no shares issued and outstanding at December 31, 2011 and December 31, 2010, respectively	'	'
Common stock, par value $0.001, 20,000,000 shares authorized, 1,000,000 shares issued and outstanding at December 31, 2011 and December 31, 2010, respectively	1,000	1,000
Additional paid-in capital	9,000	9,000
Deficit accumulated during the development stage	-348,955	-317,635
Total stockholders' deficit	-338,955	-307,635
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$1,403	$1,403

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2011	Dec. 31, 2010
Balance Sheets [Abstract]	'	'
Preferred stock, par value per share	$0.00	$0.00
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value per share	$0.00	$0.00
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	1,000,000	1,000,000
Common stock, shares outstanding	1,000,000	1,000,000

Statements_of_Operations

Statements of Operations (USD $)	12 Months Ended		137 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011
Statements of Operations [Abstract]	'	'	'
Revenue	'	'	'
Expenses	'	'	'
General and administrative	17,785	19,394	266,241
Total operating expenses	17,785	19,394	266,241
Other expenses	'	'	'
Interest expense	13,534	13,187	72,714
Impairment of reorganization value	'	'	10,000
Net loss	($31,319)	($32,581)	($348,955)
Net loss per common share	($0.03)	($0.03)	'
Weighted average number of common shares	1,000,000	1,000,000	'

Statement_of_Stockholders_Defi

Statement of Stockholders' Deficit (USD $)	Total	Pref. [Member]	Common Shares [Member]	Additional Paid-in Capital [Member]	Deficit Accum. During Develop. Stage [Member]
Balance at Aug. 08, 2000	$10,000	'	$1,000	$9,000	'
Balance, shares at Aug. 08, 2000	'	'	1,000,000	'	'
Net loss	-10,000	'	'	'	-10,000
Balance at Dec. 31, 2001	'	'	1,000	9,000	-10,000
Balance, shares at Dec. 31, 2001	'	'	1,000,000	'	'
Net loss	'	'	'	'	-10,000
Balance at Dec. 31, 2002	'	'	1,000	9,000	-10,000
Balance, shares at Dec. 31, 2002	'	'	1,000,000	'	'
Net loss	-27,588	'	'	'	-27,588
Balance at Dec. 31, 2003	-27,588	'	1,000	9,000	-37,588
Balance, shares at Dec. 31, 2003	'	'	1,000,000	'	'
Net loss	-43,979	'	'	'	-43,979
Balance at Dec. 31, 2004	-71,567	'	1,000	9,000	-81,567
Balance, shares at Dec. 31, 2004	'	'	1,000,000	'	'
Net loss	-39,458	'	'	'	-39,458
Balance at Dec. 31, 2005	-111,025	'	1,000	9,000	-121,025
Balance, shares at Dec. 31, 2005	'	'	1,000,000	'	'
Net loss	-34,968	'	'	'	-34,968
Balance at Dec. 31, 2006	-145,993	'	1,000	9,000	-155,993
Balance, shares at Dec. 31, 2006	'	'	1,000,000	'	'
Net loss	-51,971	'	'	'	-51,971
Balance at Dec. 31, 2007	-197,964	'	1,000	9,000	-207,964
Balance, shares at Dec. 31, 2007	'	'	1,000,000	'	'
Net loss	-46,581	'	'	'	-46,581
Balance at Dec. 31, 2008	-244,545	'	1,000	9,000	-254,545
Balance, shares at Dec. 31, 2008	'	'	1,000,000	'	'
Net loss	-30,510	'	'	'	-30,510
Balance at Dec. 31, 2009	-275,055	'	1,000	9,000	-285,055
Balance, shares at Dec. 31, 2009	'	'	10,000,000	'	'
Net loss	-32,581	'	'	'	-32,581
Balance at Dec. 31, 2010	-307,635	'	1,000	9,000	-317,636
Balance, shares at Dec. 31, 2010	'	'	1,000,000	'	'
Net loss	-31,319	'	'	'	-31,319
Balance at Dec. 31, 2011	($338,955)	'	$1,000	$9,000	($348,955)
Balance, shares at Dec. 31, 2011	'	'	1,000,000	'	'

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	12 Months Ended		137 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2011
Cash flows relating to operating activities	'	'	'
Net loss	($31,319)	($32,581)	($348,955)
Adjustments to reconcile net loss to net cash used in operating activities	'	'	'
Impairment of reorganization value	'	'	10,000
Change in operating liabilities:	'	'	'
Increase in accrued expenses	31,319	24,678	116,456
Change in prepaid expenses	'	-1,000	-1,000
Net cash used in operating activities	'	-8,903	-223,499
Cash flows relating to financing activities	'	'	'
Proceeds from note payable	'	6,232	223,902
Net cash provided by financing activities	'	6,232	223,902
Increase (decrease) in cash	'	-2,671	403
Cash, beginning of period	403	3,074	'
Cash, end of period	403	403	403
Supplemental disclosure of cash flow information	'	'	'
Cash paid during the period for interest	'	'	'
Cash paid during the period for income taxes	'	'	'

FORMATION_NATURE_OF_BUSINESS_A

FORMATION, NATURE OF BUSINESS AND GOING CONCERN	12 Months Ended
	Dec. 31, 2011
FORMATION, NATURE OF BUSINESS AND GOING CONCERN [Abstract]	'
FORMATION, NATURE OF BUSINESS AND GOING CONCERN	'
	NOTE 1 - FORMATION, NATURE OF BUSINESS AND GOING CONCERN
	Inner Systems, Inc. (the "Company"), a New York company, was organized in 1997. The Company was in the business of providing concession services. On May 21, 1999, the Company filed a voluntary petition for reorganization pursuant to Chapter 11 of the United States Bankruptcy Code. The petition was filed in the United States Bankruptcy Court for the Eastern District of New York and its plan of reorganization was confirmed on August 9, 2000 ("Inception" date).
	Pursuant to the plan of reorganization, the Company sold its operations to an unrelated third party. Effective August 9, 2000, the Company entered the development stage and is seeking to raise capital to fund possible acquisitions. The Company is actively searching for acquisition targets. As of March 15, 2010, the Company had not identified any such targets.
	The Company has not commenced principal operations as of December 31, 2011 and there is no assurance that the Company will have the ability to carry out its business plan without raising sufficient debt or equity financing. Through December 31, 2011, the Company has raised $223,902 from debt financing (Note 4). During 2011, the Company received no additional advances. Additional funds will be necessary to continue operations. Although the Company intends to obtain either additional debt or equity financing, there can be no assurance that they will be successful.
	The accompanying financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. The Company is considered a development stage company, has not begun generating revenue, and has experienced recurring net operating losses. The Company had a net loss of $31,319 and $32,581 for the years ended December 31, 2011 and 2010, respectively, and a working capital deficiency of $338,955 and $306,635 at December 31, 2011 and 2010, respectively. These factors raise substantial doubt about the Company's ability to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.
	The Company is dependent on advances from investors and lenders for continued funding. There are no commitments or guarantees from any third party to provide such funding nor is there any guarantee that the Company will be able to access the funding it requires to continue its operations.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES	12 Months Ended
	Dec. 31, 2011
SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES	'
	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES
	A. BASIS OF ACCOUNTING
	The financial statements have been prepared using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a December 31 year-end.
	B. CASH EQUIVALENTS
	The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents as of December 31, 2011.
	C. USE OF ESTIMATES
	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
	D. DEVELOPMENT STAGE
	The Company continues to devote substantially all of its efforts to exploring potential targets for a business combination through the purchase of assets, share purchase or exchange, merger or similar type of transaction.
	E. BASIC LOSS PER SHARE
	In February, 1997, the FASB issued guidance, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. The relevant guidance supersedes the prior guidance, and requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding. Common stock equivalents consisting of 4,934,444 shares issuable upon conversion of the Company's convertible notes, which may be dilutive in future periods, were excluded from dilute earnings (loss) per share because their effect would be anti-dilutive.
	F. INCOME TAXES
	Income taxes are provided in accordance with the relevant guidance. A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards. Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
	G. SHARE-BASED PAYMENT
	The Company has adopted the relevant guidance, which addresses the accounting for share-based payment transactions. This guidance eliminates the ability to account for share-based compensation transactions and generally requires instead that such transactions be accounted and recognized in the statement of operations based on their fair value.
	During the years ended December 31, 2011 and 2010, there were no stock options granted or outstanding.
	H. SUBSEQUENT EVENTS
	The Company has evaluated all subsequent events through March 15, 2012, the date the financial statements were issued, and no additional items were noted that need to be disclosed.
	I. FAIR VALUE MEASUREMENTS
	The Company adopted the provisions of ASC Topic 820, "Fair Value Measurements and Disclosures", which  defines fair value as used in numerous accounting pronouncements, establishes a framework for measuring fair value and expands disclosure of fair value measurements.
	The estimated fair value of certain financial instruments, including cash and cash equivalents, payables to related parties, and accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.
	ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value:
	Level 1 - quoted prices in active markets for identical assets or
	Level 2 - quoted prices for similar assets and liabilities in active markets or inputs that are observable
	Level 3 - inputs that are unobservable (for example cash flow modeling inputs based on assumptions)
	J. RECENT ACCOUNTING PRONOUNCEMENTS
	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company's accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future either will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations, and cash flows when implemented.

BANKRUPTCY_PROCEEDINGS

BANKRUPTCY PROCEEDINGS	12 Months Ended
	Dec. 31, 2011
BANKRUPTCY PROCEEDINGS [Abstract]	'
BANKRUPTCY PROCEEDINGS	'
	NOTE 3 - BANKRUPTCY PROCEEDINGS
	On August 9, 2000 (as amended on August 9, 2001), the United States Bankruptcy Court of the Eastern District of New York (the "Court") confirmed the Company's plan of reorganization (the "Plan") and all debts of the Company that arose before the confirmation of the Plan were discharged.
	The Plan ratified the approval of an Asset Purchase Agreement (the "Agreement") between the Company and Culinart, Inc. ("Culinart"). Under the Agreement, Culinart is required to make certain payments (the "Culinart Payments") to the bankruptcy estate through September 2003.
	The Plan contained six classes of creditors of which approximately $196,000 were not paid as of the Plan confirmation date. Such claims were to be paid by the Culinart Payments. The Company cannot confirm whether the Culinart Payments have or have not been paid. If the Culinart payments were not made, the Court may deem the Company in default under the terms of the Plan. The Court retained exclusive jurisdiction to deal with items arising from the Plan, including defaults under the Plan. In order for a creditor to proceed on a default, the creditor would have to reopen the case. Management believes that if the Culinart Payments were not made, then Culinart or the disbursing agent under the Plan not the Company would be responsible for defaults occurring under the Plan. In addition Management believes that with the passage of time, the likelihood of relief in favor of a creditor as a result of the Company's default, if any, under the Plan diminishes. However there can be no assurances that the Company will not be deemed in default of the Plan nor that the maximum liability would be capped at $196,000. The Plan stipulated the issuance of 1,000,000 shares of a new class of common stock to be paid and issued to certain secured, administrative and unsecured creditors. In addition, the interests of the existing stockholders were extinguished and 3,198,948 shares of common stock were cancelled. A total of 1,000,000 shares of new common stock were issued on August 9, 2000 of which 735,000 shares were issued to one administrative creditor, 65,000 shares were issued to a second administrative creditor and the remaining shares were issued to the holders of unsecured non-priority claims.
	It was determined that the Company's reorganization value computed immediately before August 9, 2000, the date of plan confirmation, was $10,000. At December 31, 2000, it was determined that the reorganization value was completely impaired and accordingly written down to zero, which is representative of its fair value.
	The Company adopted fresh start reporting because holders of the existing voting shares immediately before filing and confirmation of the Plan received less than 50% of the voting shares of the emerging entity. There were no remaining bankruptcy liabilities at August 9, 2000.

NOTES_PAYABLE

NOTES PAYABLE	12 Months Ended
	Dec. 31, 2011
NOTES PAYABLE [Abstract]	'
NOTES PAYABLE	'
	NOTE 4 - NOTES PAYABLE
	The Company financed operations through loans from various investors. Originally, these loans were evidenced by Demand Promissory Notes bearing interest at the rate of 6% per annum, although it was the intention of management of the Company and the investors to exchange these notes for convertible promissory notes which would be convertible into shares of the Company's common stock. On January 14, 2005, management finalized the specific terms of their agreement and form of documents and exchanged the original Demand Promissory Notes for Senior Convertible Promissory Notes (the "Notes"). The Notes, which represent $223,902 in the aggregate as of December 31, 2011, continue to bear interest at the rate of 6% per annum. The Notes were due at the earlier of December 31, 2007, or a Change of Control Transaction (as defined below); however, the Notes were extended to the earlier of December 31, 2012 or a Change of Control Transaction. Additionally, the Notes are only convertible when the Company consummates a Change of Control Transaction. A Change in Control Transaction shall mean (i) a sale of all or substantially all of the Company's assets, (ii) a transaction (or series of transactions, including merger, consolidation or other reorganization of the Company, or issuance of additional shares of capital stock of the Company other than in connection with capital raising transactions) which results in the holders of the Company's capital stock prior to the transaction owning less than 50% of the voting power, on a fully diluted, as-converted basis for all outstanding classes thereof, of the Company's capital stock after the transaction or (iii) a liquidation, dissolution or winding up of the Company. The Notes are convertible at various rates ranging from $.005 to $.40 per share. Since the conversion feature in the Notes is contingent on a future event outside the control of the investors, the contingent beneficial conversion feature, valued at approximately $98,944, will not be recognized until the contingency is resolved. The holders of the Notes were also granted Registration Rights with respect to the shares of common stock issuable upon conversion of the Notes, if they are converted. These rights are evidenced by a Registration Rights Agreement between the Company and the holders of the Notes; such registration rights do not become effective until a Change in Control Transaction occurs.
	In 2011, the Company received no additional advances. Since December 31, 2011, the Company has not received any additional advances from investors.

RELATED_PARTY_TRANSACTION

RELATED PARTY TRANSACTION	12 Months Ended
	Dec. 31, 2011
RELATED PARTY TRANSACTION [Abstract]	'
RELATED PARTY TRANSACTIONS	'
	NOTE 5 - RELATED PARTY TRANSACTION
	Through an oral agreement with the Company's President, the Company is provided office space, phone usage, equipment rental and other office services. The Company has not been charged for these services as usage has been minimal.

INCOME_TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2011
INCOME TAXES [Abstract]	'
INCOME TAXES	'
	NOTE 6 - INCOME TAXES
	The Company accounts for income taxes using the liability method, which requires the determination of deferred tax assets and liabilities based on the differences between the financial and tax bases of assets and liabilities using enacted tax rates in effect for the year in which differences are expected to reverse. Deferred tax assets are adjusted by a valuation allowance, if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized.
	The Company adopted Financial Accounting Standards Board's Interpretation No. 48, "Accounting for Uncertainly in Income Taxes, an interpretation of FASB Statement No. 109" ("FIN 48"), effective January 1, 2007. FIN 48 clarifies the accounting for uncertainty in income taxes recognized in financial statements and requires the impact of a tax position to be recognized in the financial statements if that position is more likely than not of being sustained by the taxing authority. FIN 48 is effective for fiscal years beginning after December 31, 2006, and is to be applied to all open tax years as of the date of effectiveness. FIN 48 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. There were no unrecognized tax benefits as of December 31, 2011 or December 31, 2010.
	The Company has identified its federal tax return and its state tax return in New York as "major" tax jurisdictions, as defined in FIN 48. Based on the Company's evaluation, it has been concluded that there are no significant uncertain tax positions requiring recognition in the Company's financial statements. The Company's evaluation was performed for tax years ended 2004 through 2008, the only periods subject to examination. The Company believes that its income tax positions and deductions will be sustained upon audit and does not anticipate any adjustments that will result in a material change to its financial position. In addition, the Company did not record a cumulative effect adjustment related to the adoption of FIN 48. The Company has elected to classify interest and penalties incurred on income taxes, if any, as income tax expense. No interest or penalties on income taxes have been recorded during the year ended December 31, 2011. The Company does not expect its unrecognized tax benefit position to change during the next twelve months. Management is currently unaware of any issues under review that could result in significant payments, accruals or material deviations from its position. The adoption of FIN 48 did not have a material effect on our financial positions, results or operations or cash flows.
	At December 31, 2011, the Company had net operating loss carry forwards of approximately $348,955 which expire through 2031. Pursuant to Section 382 of the Internal Revenue Code regarding substantial changes in ownership, utilization of these losses may be limited. Due to the fact that the Company has not generated any taxable income through December 31, 2011, it was determined that it was more likely than not that the Company's deferred tax asset will not be realized. As such, the deferred tax asset of approximately $134,951 and $122,839 at December 31, 2011 and 2010, respectively, has been offset by a valuation allowances of $134,951 and $122,839, respectively.

TRADING_CANCELLATION_OF_OLD_SH

TRADING CANCELLATION OF "OLD SHARES"	12 Months Ended
	Dec. 31, 2011
TRADING CANCELLATION OF "OLD SHARES" [Abstract]	'
TRADING CANCELLATION OF "OLD SHARES"	'
	NOTE 7 - TRADING CANCELLATION OF "OLD SHARES"
	In June 2007, it came to the attention of the Company that the shares trading under the symbol "ISYM" were the shares of common stock held by the pre-petition shareholders of the Company (the "Old Shares"). As previously disclosed in the Company's public filings, these 3,198,948 shares of common stock, comprising the Old Shares issued to the pre-petition shareholders, were cancelled when the Company emerged from bankruptcy on August 9, 2000. Effective August 9, 2000, these Old Shares had no value and should not have been trading. In June 2007, the Company advised The Depository Trust & Clearing Corporation and the CUSIP Service Bureau that these Old Shares were cancelled and should not be trading. The Company obtained a new CUSIP number, or identification number, for the 1,000,000 shares issued to the holders of various claims pursuant to the Plan of Reorganization and the Order of the Bankruptcy Court approving the Plan of Reorganization (the "New Shares") and the Company has obtained the trading symbol "ISYE" for the New Shares.