| Statement of Financial Position, Consolidated | ||
| Jun. 30, 2009
USD ($) USD / shares | Dec. 31, 2008
USD ($) USD / shares | |
| Current Assets | ||
| Cash and Cash Equivalents | $185,380 | $50,367 |
| Accounts receivable net of allowance for doubtful accounts | 261,281 | 165,681 |
| Security deposits | 6,242 | 6,242 |
| Other current assets | 26,766 | 2,855 |
| Total current assets | 479,669 | 225,145 |
| non Current Assets | ||
| Furniture and Fixtures, Gross | 22,051 | 15,987 |
| Intangible Assets, Net (Excluding Goodwill) Modified | 134,029 | 147,695 |
| Other long-term assets | 0 | 2,000 |
| Total assets | 635,749 | 390,827 |
| Current Liabilities | ||
| Accounts payable | 80,255 | 143,560 |
| Accrued expenses | 97,663 | 128,050 |
| Notes payable related party | 73,525 | 73,525 |
| Notes payable other | 25,000 | 64,828 |
| Liabilities, Total | 276,443 | 409,963 |
| Stockholders Equity Attributable to Parent | ||
| Preferred stock, $1.00 par value, 10,000,000 shares authorized - Series A, 60 shares designated, 5 and 7 shares issued and outstanding as September 30, 2009 and December 31, 2009 | 5 | 7 |
| Common stock $.001 par value, 100,000,000 shares authorized, 16,854,717 and 18,834,717 shares issued and outstanding as of September 30, 2009 and December 31, 2008, respectively. | 16,754 | 18,834 |
| Additional Paid in Capital | ||
| Additional Paid in Capital, Total | 1,461,338 | 1,441,006 |
| Treasury stock at cost 4495 shares | 4,236 | 4,236 |
| Retained Earnings (Accumulated Deficit) | ||
| Retained Earnings (Accumulated Deficit), Total | ($1,114,555) | ($1,474,747) |
| Preferred Stock, Number of Shares, Par Value and Other Disclosures | ||
| Preferred Stock, Par or Stated Value Per Share | $1 | $1 |
| Common Stock, Number of Shares, Par Value and Other Disclosures | ||
| Common stock $001 par value 100000000 shares authorized 16754717 and 18834717 shares issued and outstanding as of June 30 2009 and December 31 2008 respectively | $100,000,000 | |
| Common Stock, Shares Authorized | 100,000,000 | |
| Common Stock, Shares, Issued | 16,754,717 | 18,834,717 |
| Treasury Stock, Number of Shares and Restriction Disclosures | ||
| Treasury Stock, Shares | 4,495 | 4,495 |
| Statement of Income (Including Gross Margin) | ||||
| 3 Months Ended
Jun. 30, 2009 USD ($) USD / shares | 3 Months Ended
Jun. 30, 2008 USD ($) USD / shares | 6 Months Ended
Jun. 30, 2009 USD ($) USD / shares | 6 Months Ended
Jun. 30, 2008 USD ($) USD / shares | |
| Compliance and reporting services | $198,160 | $185,610 | $394,020 | $367,074 |
| Printing and financial communication | 189,520 | 169,898 | 294,607 | 239,661 |
| Fulfillment and distribution | 144,935 | 80,391 | 285,039 | 114,614 |
| Software licensing | 63,487 | 14,900 | 80,919 | 22,800 |
| Transfer agent services | 169,706 | 0 | 183,756 | 0 |
| Cost of Services | ||||
| Cost of Services, Total | 271,041 | 284,195 | 485,041 | 421,917 |
| Depreciation, Depletion and Amortization, Nonproduction | ||||
| Depreciation and Amortization Total | 9,932 | 4,831 | 19,264 | 9,674 |
| Selling and Marketing Expense | ||||
| Selling and Marketing Expense, Total | 77,391 | 112,768 | 132,381 | 163,543 |
| General and Administrative Expense | ||||
| General and Administrative Expense, Total | 138,527 | 403,881 | 240,125 | 864,756 |
| Interest Expense | ||||
| Interest income (expense), net | 65 | (22,051) | 1,336 | 5,624 |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | $268,852 | ($332,826) | $360,194 | ($721,365) |
| Income (Loss) before Extraordinary Items and Cumulative Effect of Change in Accounting Principle, Per Basic Share | ||||
| Income (loss) per share - basic | 0.02 | -0.02 | 0.02 | -0.04 |
| Earnings Per Share, Basic, Other Disclosures | ||||
| Income (loss) per share - basic | 0.02 | -0.02 | 0.02 | -0.04 |
| Weighted average number of common shares outstanding - basic | 16,748,783 | 17,243,658 | 16,187,857 | 17,028,250 |
| Income (Loss) before Extraordinary Items and Cumulative Effect of Change in Accounting Principle, Per Diluted Share | ||||
| Income (loss) per share - fully diluted | 0.02 | -0.02 | 0.02 | -0.04 |
| Earnings Per Share, Diluted, Other Disclosures | ||||
| Weighted average number of common shares outstanding - fully diluted | 17,243,658 | 17,028,250 |
| Statement of Cash Flows(USD ($) USD / shares) | ||
| 6 Months Ended
Jun. 30, 2009 | 6 Months Ended
Jun. 30, 2008 | |
| Net Cash Provided by (Used in) Operating Activities, Continuing Operations | ||
| Net income (loss) | $360,194 | ($721,365) |
| Depreciation | ||
| Cost of Services, Depreciation | 19,264 | 9,674 |
| Bad debt expense | 26,963 | 0 |
| Stock-based expenses | 0 | 630,899 |
| Increase (Decrease) in Receivables | ||
| Decrease (increase) in deposits and prepaids | 21,911 | 1,076 |
| Decrease (increase) in accounts receivable | 122,564 | 98,424 |
| Increase (Decrease) in Accounts Payable | ||
| Increase (decrease) in accounts payable | (63,305) | 120,626 |
| Increase (Decrease) in Accrued Liabilities | ||
| Increase (Decrease) in Interest Payable, Net | 1,192 | 1,515 |
| Increase (decrease) in accrued expenses | (5,389) | 18,045 |
| Payments to Acquire Property, Plant, and Equipment | ||
| Purchase of property and equipment | 11,661 | 0 |
| Repayments of Short-term Debt | ||
| Repayments of notes payable | 39,828 | 10,355 |
| Proceeds from Issuance or Sale of Equity | ||
| Proceeds from sale of common stock | 0 | 50,000 |
| Payments for Repurchase of Equity | ||
| Repurchase of common stock | 6,750 | 0 |
| Cash and Cash Equivalents, at Carrying Value, Ending Balance | $185,380 |
| Accounting Policies | |
| 3 Months Ended
Jun. 30, 2009 USD / shares | |
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | |
| Basis of Accounting | The unaudited interim balance sheet as of June 30, 2009 and statement of operations and cash flows for the periods ended June 30, 2009 and 2008 included herein, have been prepared in accordance with the instructions for Form 10-Q under the Securities Exchange Act of 1934, as amended the Exchange Act, and Article 10 of Regulation S-X under the Exchange Act. In the opinion of the management, they include all normal recurring adjustments necessary for a fair presentation of the financial statements. Results of operations reported for the interim periods are not necessarily indicative of results for the entire year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations relating to interim financial statements. The interim financial information should be read in conjunction with Issuer Direct Corporations the Companys 2008 audited financial statements filed on Form 10-K. Certain reclassifications have been made to prior period amounts to conform to the current period presentation. All reclassifications have been applied consistently for the periods presented. Earnings per Share Use of Estimates Recent Accounting Pronouncements On January 28, 2009, we entered into a settlement and release agreement Agreement with the holder of the note payable that we issued in March 2007. Pursuant to the terms of the agreement, the holder agreed to accept $35,000 in full payment of principal and interest, which was paid in full on January 28, 2009. We recognized a gain on settlement of debt of approximately $16,900 as of December 31, 2008, when we reduced the carrying value of the debt pursuant to the settlement agreement. Note 4: Notes payable related party As of June 30, 2009 and December 31, 2008, we had three unsecured related party notes payable outstanding, totaling $73,525 as follows: Note 5: Preferred stock and common stock During the six months ended June 30, 2009, we issued 150,000 shares of our common stock to an employee under the terms of an employment agreement, paid $6,750 to repurchase 2,250,000 shares from our former President shortly after his resignation, and issued 20,000 shares of common stock to redeem all obligations pursuant to two shares of preferred stock, as follows: In February 2009, we issued 150,000 shares of our common stock in connection with an employment agreement with a former officer of Bassett Press. The fair market value of the shares totaled $25,000, or $0.17 per share, which represents the closing price on the date of the agreement. These shares were issued pursuant to the employment agreement. At June 30, 2009, we had five outstanding shares of Series A Preferred Stock. Although the Certificate of Designation of the rights, preferences and limitations of the Preferred Stock provides for dividends equal to eleven percent 11.0% per year on the liquidation preference of $25,000 per share, we have not declared or accrued such dividends. These shares were issued by our predecessor company and the original documentation which |
| Going Concern Note | Since inception and through December 31, 2008, we have incurred losses and at June 30, 2009, we have an accumulated deficit of $1,114,555, which raises substantial doubt about our ability to continue as a going concern. We have funded our operations and marketing efforts since inception through the issuance of debt and equity securities. Should we require additional funds and if we are unable to acquire such funds, our ability to continue as a going concern will be severely impacted. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
| Document Information | |
| 3 Months Ended
Jun. 30, 2009 USD / shares | |
| Document Information [Line Items] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Effective Date | 2009-06-30 |
| Document Period Start Date | 2009-01-01 |
| Document Period End Date | 2009-06-30 |
| Entity Information | |
| 3 Months Ended
Jun. 30, 2009 USD ($) USD / shares | |
| Entity Information [Line Items] | |
| Entity Registrant Name | Issuer Direct Corp |
| Entity Central Index Key | 0000843006 |
| Entity Tax Identification Number | 261331503 |
| Entity Reporting Currency ISO Code | USD |
| Entity Incorporation, State Country Name | Delaware |
| Current Fiscal Year End Date | --12-31 |
| Former Fiscal Year End Date | --12-31 |
| Entity Well-known Seasoned Issuer | No |
| Entity Voluntary Filers | Yes |
| Entity Current Reporting Status | Yes |
| Entity Filer Category | Non-accelerated Filer |
| Entity Public Float | $359,606 |
| Entity Addresses [Line Items] | |
| Entity Address, Address Line One | 201 Shannon Oaks Circle Suite 105 |
| Entity Address, City or Town | Cary |
| Entity Address, State or Province | North Carolina |
| Entity Address, Country | USA |
| Entity Address, Postal Zip Code | 27511 |
| Entity Listings [Line Items] | |
| Entity Common Stock, Shares Outstanding | 16,754,717 |
