10-Q Filing

INUVO, INC. CIK: 829323 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0000829323-17-000029`
Period End Date	20170331
Filing Date	20170505
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	inuv-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 38 Cash Flow Statement 54

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$23.00K	USD	Point-in-time
Allowance for Doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$23.00K	USD	Point-in-time
Cash	`Cash`	$3.92M	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.	`AccountsReceivableNetCurrent`	$7.59M	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.	`AccountsReceivableNetCurrent`	$7.14M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$341.98K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$293.11K	USD	Point-in-time
Preferred stock shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	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
Total current assets	`AssetsCurrent`	$11.40M	USD	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.62M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.55M	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
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
Goodwill	`Goodwill`	$9.77M	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
Goodwill	`Goodwill`	$5.76M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$8.34M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$12.12M	USD	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	25.30M	shares	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	28.90M	shares	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	28.52M	shares	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	24.92M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$86.51K	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`	$21.98M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$14.12M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	376,527.00	shares	Point-in-time
Total assets	`Assets`	$34.93M	USD	Point-in-time
Total assets	`Assets`	$27.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.28M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.63M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.69M	USD	Point-in-time
Revolving credit line - current portion	`LinesOfCreditCurrent`	$1.10M	USD	Point-in-time
Revolving credit line - current portion	`LinesOfCreditCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.97M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$3.74M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$3.74M	USD	Point-in-time
Revolving credit line - long term	`LongTermLineOfCredit`	$2.50M	USD	Point-in-time
Revolving credit line - long term	`LongTermLineOfCredit`	-	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$361.32K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$326.43K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$4.06M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$6.60M	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 28,901,161 and 25,300,189, respectively; outstanding shares 28,524,634 and 24,923,662, respectively	`CommonStockValue`	$25.30K	USD	Point-in-time
Common stock, $.001 par value: Authorized shares 40,000,000; issued shares 28,901,161 and 25,300,189, respectively; outstanding shares 28,524,634 and 24,923,662, respectively	`CommonStockValue`	$28.90K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$135.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$130.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-119.21M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-117.52M	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`	$14.58M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.53M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$27.56M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$34.93M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueNet`	$18.73M	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$17.22M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$4.29M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$7.89M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.32M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.45M	USD	1 Quarter
Marketing costs	`SearchCosts`	$11.07M	USD	1 Quarter
Marketing costs	`SearchCosts`	$6.47M	USD	1 Quarter
Compensation	`SalariesAndWages`	$1.72M	USD	1 Quarter
Compensation	`SalariesAndWages`	$2.39M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.26M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.12M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.97M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$14.04M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$403.01K	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-1.65M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$42.94K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$23.61K	USD	1 Quarter
(Loss) income from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$379.40K	USD	1 Quarter
(Loss) income from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.69M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$7.24K	USD	1 Quarter
Net (loss) income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.69M	USD	1 Quarter
Net (loss) income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$372.16K	USD	1 Quarter
Net (loss) income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-1.11K	USD	1 Quarter
Net (loss) income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$2.11K	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$-1.69M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$374.27K	USD	1 Quarter
Net (loss) income from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.02	USD	1 Quarter
Net (loss) income from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.06	USD	1 Quarter
Net (loss) income from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Net (loss) income from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Net (loss) income (in usd per share)	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Net (loss) income (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	24.38M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	27.03M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	24.57M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.03M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$-1.69M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$374.27K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$693.17K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$540.56K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$292.33K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$359.34K	USD	1 Quarter
Amortization of financing fees	`AmortizationOfFinancingCosts`	$6.40K	USD	1 Quarter
Amortization of financing fees	`AmortizationOfFinancingCosts`	$6.40K	USD	1 Quarter
Adjustment of European liabilities related to discontinued operations	`LiabilitiesAdjustmentDiscontinuedOperations`	$-1.11K	USD	1 Quarter
Adjustment of European liabilities related to discontinued operations	`LiabilitiesAdjustmentDiscontinuedOperations`	$5.14K	USD	1 Quarter
Recovery of doubtful accounts	`ProvisionRecoveryforDoubtfulAccounts`	$-464.00	USD	1 Quarter
Recovery of doubtful accounts	`ProvisionRecoveryforDoubtfulAccounts`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.94M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.74M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-64.75K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-109.58K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-2.41M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-2.84M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-299.03K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-989.74K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.68M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$573.74K	USD	1 Quarter
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$151.42K	USD	1 Quarter
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$372.60K	USD	1 Quarter
Net cash received from NetSeer Asset Acquisition	`CashAcquiredFromAcquisition`	$235.76K	USD	1 Quarter
Net cash received from NetSeer Asset Acquisition	`CashAcquiredFromAcquisition`	-	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-372.60K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$84.34K	USD	1 Quarter
Payoff of NetSeer debt acquired	`RepaymentsOfAssumedDebt`	-	USD	1 Quarter
Payoff of NetSeer debt acquired	`RepaymentsOfAssumedDebt`	$2.02M	USD	1 Quarter
Net proceeds on revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$3.60M	USD	1 Quarter
Net proceeds on revolving line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Payments on capital leases	`PaymentsonTermNotePayableandCapitalLeases`	$7.25K	USD	1 Quarter
Payments on capital leases	`PaymentsonTermNotePayableandCapitalLeases`	$12.86K	USD	1 Quarter
Net taxes paid on RSU grants exercised	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Net taxes paid on RSU grants exercised	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$11.95K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.58M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-24.81K	USD	1 Quarter
Net change cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$176.33K	USD	1 Quarter
Net change cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-23.29K	USD	1 Quarter
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.92M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.26M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.43M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.95M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.92M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.26M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.43M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.95M	USD	Point-in-time
Interest paid	`InterestPaid`	$18.06K	USD	1 Quarter
Interest paid	`InterestPaid`	$25.32K	USD	1 Quarter
NetSeer stock issuance (See Note 13)	`StockIssued1`	-	USD	1 Quarter
NetSeer stock issuance (See Note 13)	`StockIssued1`	$4.46M	USD	1 Quarter
Write-down of domain names and corresponding contingent liability	`WritedownofIntangibleAssetsduetoChangeinFairValue`	-	USD	1 Quarter
Write-down of domain names and corresponding contingent liability	`WritedownofIntangibleAssetsduetoChangeinFairValue`	$222.48K	USD	1 Quarter

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