10-K Filing

INUVO, INC. CIK: 829323 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0000829323-17-000010`
Period End Date	20161231
Filing Date	20170216
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	inuv-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 38 Cash Flow Statement 68 Stockholders Equity 16

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$23.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$17.20K	USD	Point-in-time
Cash	`Cash`	$4.26M	USD	Point-in-time
Cash	`Cash`	$3.95M	USD	Point-in-time
Preferred stock par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $23,000 and $17,200, respectively	`AccountsReceivableNetCurrent`	$7.00M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $23,000 and $17,200, respectively	`AccountsReceivableNetCurrent`	$7.59M	USD	Point-in-time
Preferred stock par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Unbilled revenue	`UnbilledContractsReceivable`	$16.15K	USD	Point-in-time
Preferred stock shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Unbilled revenue	`UnbilledContractsReceivable`	$8.64K	USD	Point-in-time
Preferred stock shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$345.75K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$284.47K	USD	Point-in-time
Preferred stock shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$11.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.62M	USD	Point-in-time
Preferred stock shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.81M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.62M	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
Common stock shares issued (in shares)	`CommonStockSharesIssued`	25.30M	shares	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	24.75M	shares	Point-in-time
Goodwill	`Goodwill`	$5.76M	USD	Point-in-time
Common stock shares Outstanding (in shares)	`CommonStockSharesOutstanding`	24.38M	shares	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$8.34M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$9.32M	USD	Point-in-time
Common stock shares Outstanding (in shares)	`CommonStockSharesOutstanding`	20.00M	shares	Point-in-time
Common stock shares Outstanding (in shares)	`CommonStockSharesOutstanding`	24.92M	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	376,527.00	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$224.76K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$15.19K	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	376,527.00	shares	Point-in-time
Total other assets	`AssetsNoncurrent`	$15.31M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$14.12M	USD	Point-in-time
Total assets	`Assets`	$28.73M	USD	Point-in-time
Total assets	`Assets`	$27.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.08M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.69M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$3.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.25M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$3.74M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$3.80M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$326.43K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$722.72K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$4.52M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$4.06M	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 25,300,189 and 24,752,408, respectively; outstanding shares 24,923,6627 and 24,375,881, respectively	`CommonStockValue`	$24.75K	USD	Point-in-time
Common stock, $.001 par value: Authorized shares - 40,000,000, issued shares 25,300,189 and 24,752,408, respectively; outstanding shares 24,923,6627 and 24,375,881, respectively	`CommonStockValue`	$25.30K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$130.42M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$129.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-117.52M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-116.75M	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`	$10.96M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$8.27M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$27.56M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$28.73M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueNet`	$71.53M	USD	Annual
Net revenue	`SalesRevenueNet`	$70.44M	USD	Annual
Cost of revenue	`CostOfRevenue`	$23.72M	USD	Annual
Cost of revenue	`CostOfRevenue`	$21.36M	USD	Annual
Gross profit	`GrossProfit`	$46.72M	USD	Annual
Gross profit	`GrossProfit`	$50.17M	USD	Annual
Marketing costs	`SearchCosts`	$39.20M	USD	Annual
Marketing costs	`SearchCosts`	$34.32M	USD	Annual
Compensation	`SalariesAndWages`	$5.60M	USD	Annual
Compensation	`SalariesAndWages`	$6.83M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.00M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.65M	USD	Annual
Total operating expenses	`OperatingExpenses`	$51.02M	USD	Annual
Total operating expenses	`OperatingExpenses`	$44.57M	USD	Annual
Operating (loss) income	`OperatingIncomeLoss`	$2.15M	USD	Annual
Operating (loss) income	`OperatingIncomeLoss`	$-857.17K	USD	Annual
Interest expense, net	`NonoperatingIncomeExpense`	$-141.31K	USD	Annual
Interest expense, net	`NonoperatingIncomeExpense`	$-99.97K	USD	Annual
(Loss) income from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.01M	USD	Annual
(Loss) income from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-957.13K	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-300.14K	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-29.26K	USD	Annual
Net (loss) income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-927.87K	USD	Annual
Net (loss) income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$2.31M	USD	Annual
Net income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$33.97K	USD	Annual
Net income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$155.29K	USD	Annual
Net (loss) income	`ProfitLoss`	$2.34M	USD	Annual
Net (loss) income	`ProfitLoss`	$-772.58K	USD	Annual
Net (loss) income from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.04	USD	Annual
Net (loss) income from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.10	USD	Annual
Net income from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.01	USD	Annual
Net income from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	Annual
Net (loss) income (in usd per share)	`EarningsPerShareBasic`	$0.10	USD	Annual
Net (loss) income (in usd per share)	`EarningsPerShareBasic`	$-0.03	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	24.66M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	24.25M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.66M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.54M	shares	Annual

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$2.34M	USD	Annual
Net (loss) income	`ProfitLoss`	$-772.58K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.81M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.21M	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$1.26M	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$707.54K	USD	Annual
Provision (Recovery) for doubtful accounts	`ProvisionRecoveryforDoubtfulAccounts`	$-6.04K	USD	Annual
Provision (Recovery) for doubtful accounts	`ProvisionRecoveryforDoubtfulAccounts`	$5.80K	USD	Annual
Adjustment of European liabilities related to discontinued operations	`Litigationsettlementsinstock`	$176.99K	USD	Annual
Adjustment of European liabilities related to discontinued operations	`Litigationsettlementsinstock`	$59.75K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$61.10K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-233.48K	USD	Annual
Amortization of financing fees	`AmortizationOfFinancingCosts`	$19.80K	USD	Annual
Amortization of financing fees	`AmortizationOfFinancingCosts`	$25.60K	USD	Annual
Settlement of tax liability	`PaymentsforTaxLiabilitySettlement`	-	USD	Annual
Settlement of tax liability	`PaymentsforTaxLiabilitySettlement`	$406.45K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-219.66K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$19.37K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-622.55K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$4.55M	USD	Annual
Accounts receivable and unbilled revenue	`IncreaseDecreaseInAccountsReceivable`	$583.08K	USD	Annual
Accounts receivable and unbilled revenue	`IncreaseDecreaseInAccountsReceivable`	$2.00M	USD	Annual
Accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.05M	USD	Annual
Accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-420.88K	USD	Annual
Other	`OtherOperatingActivitiesCashFlowStatement`	$-34.86K	USD	Annual
Other	`OtherOperatingActivitiesCashFlowStatement`	-	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$6.11M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.05M	USD	Annual
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$1.53M	USD	Annual
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$1.12M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.53M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.12M	USD	Annual
Proceeds from revolving line of credit	`AdvancesFromCreditNotePayable`	$7.95M	USD	Annual
Proceeds from revolving line of credit	`AdvancesFromCreditNotePayable`	$4.00M	USD	Annual
Prepaid financing fees	`AmortizationOfFinancingCostsAndDiscounts`	$25.60K	USD	Annual
Prepaid financing fees	`AmortizationOfFinancingCostsAndDiscounts`	$25.60K	USD	Annual
Payments on revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-7.95M	USD	Annual
Payments on revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-5.79M	USD	Annual
Net taxes paid on RSU grants exercised	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$360.61K	USD	Annual
Net taxes paid on RSU grants exercised	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$203.84K	USD	Annual
Payments on term note payable and capital leases	`PaymentsonTermNotePayableandCapitalLeases`	$46.31K	USD	Annual
Payments on term note payable and capital leases	`PaymentsonTermNotePayableandCapitalLeases`	$1.91M	USD	Annual
Treasury Stock Repurchase	`PaymentsForRepurchaseOfCommonStock`	$22.50K	USD	Annual
Treasury Stock Repurchase	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-247.05K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.04M	USD	Annual
Net change cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$542.68K	USD	Annual
Net change cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-310.40K	USD	Annual
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.95M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.71M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.26M	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.95M	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.71M	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$4.26M	USD	Point-in-time
Interest paid	`InterestPaid`	$122.14K	USD	Annual
Interest paid	`InterestPaid`	$72.75K	USD	Annual
Income taxes paid, net of refund	`IncomeTaxesPaidNet`	$280.45K	USD	Annual
Income taxes paid, net of refund	`IncomeTaxesPaidNet`	$26.00K	USD	Annual
Cash received from construction allowance	`CashReceivedFromConstructionAllowance`	$200.00K	USD	Annual
Cash received from construction allowance	`CashReceivedFromConstructionAllowance`	-	USD	Annual
Purchase of property and equipment under capital lease	`CapitalLeaseObligationsIncurred`	$103.61K	USD	Annual
Purchase of property and equipment under capital lease	`CapitalLeaseObligationsIncurred`	-	USD	Annual
Purchase of intangible assets through a contingent liability	`RetirementOfSharesOfTreasuryStock`	$715.87K	USD	Annual
Purchase of intangible assets through a contingent liability	`RetirementOfSharesOfTreasuryStock`	-	USD	Annual
Stock issuance for partial settlement of contingent liability	`StockIssued1`	-	USD	Annual
Stock issuance for partial settlement of contingent liability	`StockIssued1`	$300.00K	USD	Annual
Write-down of domain names due to partial settlement of contingent liability	`WritedownofIntangibleAssetsduetoChangeinFairValue`	$46.37K	USD	Annual
Write-down of domain names due to partial settlement of contingent liability	`WritedownofIntangibleAssetsduetoChangeinFairValue`	-	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$10.96M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$11.53M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$8.27M	USD	Point-in-time
Net (loss) income	`ProfitLoss`	$2.34M	USD	Annual
Net (loss) income	`ProfitLoss`	$-772.58K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.26M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$707.54K	USD	Annual
Stock issued for vested restricted stock awards	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Stock issued for vested restricted stock awards	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$-109.53K	USD	Annual
Taxes withheld on vested restricted stock	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$-203.84K	USD	Annual
Taxes withheld on vested restricted stock	`AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet`	$-251.08K	USD	Annual
Contingent stock issuance	`StockIssuedDuringPeriodValueNewIssues`	$300.00K	USD	Annual
Treasury Stock Repurchase	`TreasuryStockValueAcquiredCostMethod`	$22.50K	USD	Annual
Ending Balance	`StockholdersEquity`	$10.96M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$11.53M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$8.27M	USD	Point-in-time

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