10-K Filing

INUVO, INC. CIK: 829323 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0000829323-15-000014`
Period End Date	20141231
Filing Date	20150209
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	inuv-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 42 Cash Flow Statement 62 Stockholders Equity 16

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$86.72K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$62.84K	USD	Point-in-time
Cash	`Cash`	$3.71M	USD	Point-in-time
Cash	`Cash`	$3.14M	USD	Point-in-time
Preferred stock par value (usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $86,722 and $62,845, respectively	`AccountsReceivableNetCurrent`	$5.11M	USD	Point-in-time
Preferred stock par value (usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $86,722 and $62,845, respectively	`AccountsReceivableNetCurrent`	$3.61M	USD	Point-in-time
Preferred stock shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Unbilled revenue	`UnbilledContractsReceivable`	$24.47K	USD	Point-in-time
Unbilled revenue	`UnbilledContractsReceivable`	$23.54K	USD	Point-in-time
Preferred stock shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Preferred stock shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$510.97K	USD	Point-in-time
Preferred stock shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$299.87K	USD	Point-in-time
Preferred stock shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$7.28M	USD	Point-in-time
Preferred stock shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$9.14M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.19M	USD	Point-in-time
Common stock, par value (usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$959.48K	USD	Point-in-time
Common stock, par value (usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Goodwill	`Goodwill`	$5.76M	USD	Point-in-time
Goodwill	`Goodwill`	$5.76M	USD	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	24.09M	shares	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	23.76M	shares	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$9.53M	USD	Point-in-time
Common stock shares Outstanding (in shares)	`CommonStockSharesOutstanding`	20.00M	shares	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$10.32M	USD	Point-in-time
Common stock shares Outstanding (in shares)	`CommonStockSharesOutstanding`	23.39M	shares	Point-in-time
Common stock shares Outstanding (in shares)	`CommonStockSharesOutstanding`	23.71M	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	376,527.00	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$211.83K	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	376,527.00	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$379.51K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$16.46M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$15.50M	USD	Point-in-time
Total assets	`Assets`	$24.94M	USD	Point-in-time
Total assets	`Assets`	$25.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.24M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$3.70M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.39M	USD	Point-in-time
Term and credit notes payable - current portion	`LongTermDebtCurrent`	$959.94K	USD	Point-in-time
Term and credit notes payable - current portion	`LongTermDebtCurrent`	$2.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.38M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	$3.79M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	$3.55M	USD	Point-in-time
Term and credit notes payable - long term	`LongTermDebtNoncurrent`	$3.60M	USD	Point-in-time
Term and credit notes payable - long term	`LongTermDebtNoncurrent`	$2.67M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.04M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$735.21K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$8.42M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$6.95M	USD	Point-in-time
Preferred stock, $.001 par value: Authorized shares - 500,000 - none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.001 par value: Authorized shares - 500,000 - none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.001 par value: Authorized shares - 40,000,000, issued shares 23,763,307and 23,586,186, respectively Outstanding shares - 23,386,780 and 23,209,659 respectively	`CommonStockValue`	$24.09K	USD	Point-in-time
Common stock, $.001 par value: Authorized shares - 40,000,000, issued shares 23,763,307and 23,586,186, respectively Outstanding shares - 23,386,780 and 23,209,659 respectively	`CommonStockValue`	$23.76K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$128.73M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$127.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-119.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-121.19M	USD	Point-in-time
Treasury stock, at cost - 376,527 shares	`TreasuryStockValue`	$1.40M	USD	Point-in-time
Treasury stock, at cost - 376,527 shares	`TreasuryStockValue`	$1.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.27M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.21M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.34M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$25.61M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$24.94M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueNet`	$54.99M	USD	Annual
Net revenue	`SalesRevenueNet`	$49.60M	USD	Annual
Cost of revenue	`CostOfRevenue`	$20.42M	USD	Annual
Cost of revenue	`CostOfRevenue`	$28.78M	USD	Annual
Gross profit	`GrossProfit`	$26.21M	USD	Annual
Gross profit	`GrossProfit`	$29.17M	USD	Annual
Marketing costs	`SearchCosts`	$14.39M	USD	Annual
Marketing costs	`SearchCosts`	$17.45M	USD	Annual
Compensation	`SalariesAndWages`	$4.83M	USD	Annual
Compensation	`SalariesAndWages`	$6.02M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.78M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.40M	USD	Annual
Total operating expenses	`OperatingExpenses`	$26.19M	USD	Annual
Total operating expenses	`OperatingExpenses`	$26.68M	USD	Annual
Operating income	`OperatingIncomeLoss`	$16.91K	USD	Annual
Operating income	`OperatingIncomeLoss`	$2.50M	USD	Annual
Interest expense, net	`NonoperatingIncomeExpense`	$-351.23K	USD	Annual
Interest expense, net	`NonoperatingIncomeExpense`	$-356.96K	USD	Annual
Income (loss) from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.15M	USD	Annual
Income (loss) from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-340.05K	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-313.64K	USD	Annual
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$2.15M	USD	Annual
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-26.41K	USD	Annual
Net income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$503.62K	USD	Annual
Net income (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-40.67K	USD	Annual
Net income	`ProfitLoss`	$477.22K	USD	Annual
Net income	`ProfitLoss`	$2.11M	USD	Annual
Foreign currency revaluation	`ForeignCurrencyRevaluation`	-	USD	Annual
Foreign currency revaluation	`ForeignCurrencyRevaluation`	$418.00	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.11M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$476.80K	USD	Annual
Net loss from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.09	USD	Annual
Net loss from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	-	USD	Annual
Net loss (income) from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.02	USD	Annual
Net loss (income) from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	Annual
Net loss (in usd per share)	`EarningsPerShareBasic`	$0.02	USD	Annual
Net loss (in usd per share)	`EarningsPerShareBasic`	$0.09	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	23.28M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	23.53M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.15M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.28M	shares	Annual

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$477.22K	USD	Annual
Net income	`ProfitLoss`	$2.11M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.75M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.06M	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$310.10K	USD	Annual
Amortization of financing fees	`AmortizationOfFinancingCosts`	$28.86K	USD	Annual
Amortization of financing fees	`AmortizationOfFinancingCosts`	$33.33K	USD	Annual
Adjustment of European liabilities related to discontinued operations	`Litigationsettlementsinstock`	$2.49K	USD	Annual
Adjustment of European liabilities related to discontinued operations	`Litigationsettlementsinstock`	$459.47K	USD	Annual
Provision (Recovery) for doubtful accounts	`ProvisionRecoveryforDoubtfulAccounts`	$-137.36K	USD	Annual
Provision (Recovery) for doubtful accounts	`ProvisionRecoveryforDoubtfulAccounts`	$23.88K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$686.75K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$991.95K	USD	Annual
Accounts receivable and unbilled revenue	`IncreaseDecreaseInAccountsReceivable`	$1.52M	USD	Annual
Accounts receivable and unbilled revenue	`IncreaseDecreaseInAccountsReceivable`	$-1.96M	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-306.02K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-36.59K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-3.50M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-518.88K	USD	Annual
Accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-22.48K	USD	Annual
Accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$944.42K	USD	Annual
Other	`OtherOperatingActivitiesCashFlowStatement`	$-9.68K	USD	Annual
Other	`OtherOperatingActivitiesCashFlowStatement`	$-165.19K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$3.94M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.81M	USD	Annual
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$839.87K	USD	Annual
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$677.53K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-839.87K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-677.53K	USD	Annual
Proceeds from term note	`ProceedsFromTermNote`	$2.00M	USD	Annual
Proceeds from term note	`ProceedsFromTermNote`	-	USD	Annual
Return of deposit to collateralize letter of credit	`ProceedsFromDepositsAppliedToDebtRetirements`	$301.16K	USD	Annual
Return of deposit to collateralize letter of credit	`ProceedsFromDepositsAppliedToDebtRetirements`	-	USD	Annual
Proceeds from revolving line of credit	`AdvancesFromCreditNotePayable`	$7.22M	USD	Annual
Proceeds from revolving line of credit	`AdvancesFromCreditNotePayable`	$2.55M	USD	Annual
Prepaid financing fees	`AmortizationOfFinancingCostsAndDiscounts`	$35.50K	USD	Annual
Prepaid financing fees	`AmortizationOfFinancingCostsAndDiscounts`	$43.90K	USD	Annual
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.10K	USD	Annual
Exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Payments on revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-4.01M	USD	Annual
Payments on revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-7.57M	USD	Annual
Payments on term note payable and capital leases	`PaymentsonTermNotePayableandCapitalLeases`	$1.37M	USD	Annual
Payments on term note payable and capital leases	`PaymentsonTermNotePayableandCapitalLeases`	$3.11M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.53M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.38M	USD	Annual
Effect of exchange rate changes	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-418.00	USD	Annual
Effect of exchange rate changes	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	Annual
Net change cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$577.37K	USD	Annual
Net change cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-243.87K	USD	Annual
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.38M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.14M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.71M	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.38M	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.14M	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.71M	USD	Point-in-time
Interest paid	`InterestPaid`	$327.38K	USD	Annual
Interest paid	`InterestPaid`	$290.24K	USD	Annual
Income taxes refunded	`IncomeTaxesPaidNet`	$-3.55K	USD	Annual
Income taxes refunded	`IncomeTaxesPaidNet`	-	USD	Annual
Purchase of property and equipment under capital lease	`CapitalLeaseObligationsIncurred`	$47.48K	USD	Annual
Purchase of property and equipment under capital lease	`CapitalLeaseObligationsIncurred`	-	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$8.27M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$4.21M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$5.34M	USD	Point-in-time
Net income	`ProfitLoss`	$477.22K	USD	Annual
Net income	`ProfitLoss`	$2.11M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$686.75K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$991.95K	USD	Annual
Refund of stock issuance costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$-35.50K	USD	Annual
Stock options exercised (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	0.00	shares	Annual
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.10K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$418.00	USD	Annual
Taxes withheld on vested restricted stock	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$-165.19K	USD	Annual
Taxes withheld on vested restricted stock	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$-65.63K	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$8.27M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$4.21M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$5.34M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.