10-Q Filing

INUVO, INC. CIK: 829323 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000829323-18-000023`
Period End Date	20180331
Filing Date	20180509
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	inuv-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 38 Cash Flow Statement 50

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$83.79K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$83.79K	USD	Point-in-time
Cash	`Cash`	$4.08M	USD	Point-in-time
Cash	`Cash`	$4.15M	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 $83,789.	`AccountsReceivableNetCurrent`	$10.76M	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 $83,789.	`AccountsReceivableNetCurrent`	$7.46M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$296.68K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$400.19K	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
Preferred stock shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$15.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.31M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.38M	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
Common stock shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Goodwill	`Goodwill`	$9.85M	USD	Point-in-time
Common stock shares authorized (in shares)	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Goodwill	`Goodwill`	$9.85M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$10.45M	USD	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	29.17M	shares	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$10.81M	USD	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	28.99M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$35.17K	USD	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	28.62M	shares	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	28.80M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$36.07K	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	376,527.00	shares	Point-in-time
Total other assets	`AssetsNoncurrent`	$20.70M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	376,527.00	shares	Point-in-time
Total other assets	`AssetsNoncurrent`	$20.34M	USD	Point-in-time
Total assets	`Assets`	$34.62M	USD	Point-in-time
Total assets	`Assets`	$38.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.12M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.89M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.86M	USD	Point-in-time
Revolving credit line - current portion	`LinesOfCreditCurrent`	$4.90M	USD	Point-in-time
Revolving credit line - current portion	`LinesOfCreditCurrent`	$4.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.40M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$2.33M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$2.33M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$363.95K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$426.73K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.76M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.70M	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 29,173,725 and 28,994,981, respectively; outstanding shares 28,797,198 and 28,618,454, respectively	`CommonStockValue`	$29.17K	USD	Point-in-time
Common stock, $.001 par value: Authorized shares 40,000,000; issued shares 29,173,725 and 28,994,981, respectively; outstanding shares 28,797,198 and 28,618,454, respectively	`CommonStockValue`	$29.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$136.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$136.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-121.99M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-120.58M	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`	$13.06M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$14.09M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$38.25M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$34.62M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueNet`	$17.22M	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$20.50M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$7.89M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$8.78M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.32M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.73M	USD	1 Quarter
Marketing costs (traffic acquisition costs or TAC)	`SearchCosts`	$8.29M	USD	1 Quarter
Marketing costs (traffic acquisition costs or TAC)	`SearchCosts`	$6.47M	USD	1 Quarter
Compensation	`SalariesAndWages`	$2.62M	USD	1 Quarter
Compensation	`SalariesAndWages`	$2.39M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.13M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.12M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$13.04M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.97M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.31M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.65M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$42.94K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$100.89K	USD	1 Quarter
Loss from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.69M	USD	1 Quarter
Loss from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.42M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-7.64K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.69M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.41M	USD	1 Quarter
Net loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
Net loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-1.11K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.69M	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.41M	USD	1 Quarter
Net loss from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.05	USD	1 Quarter
Net loss from continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.06	USD	1 Quarter
Net loss from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Net loss from discontinued operations (in usd per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Net loss (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Net loss (in usd per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	28.65M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	27.03M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.65M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.03M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.69M	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.41M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$791.64K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$693.17K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$377.85K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$292.33K	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`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.74M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.30M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-109.58K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-98.02K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-2.50M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-2.84M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-989.74K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-38.91K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$629.10K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.68M	USD	1 Quarter
Net cash received from 2017 asset acquisition	`CashAcquiredFromAcquisition`	-	USD	1 Quarter
Net cash received from 2017 asset acquisition	`CashAcquiredFromAcquisition`	$235.76K	USD	1 Quarter
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$151.42K	USD	1 Quarter
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$514.07K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$84.34K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-514.07K	USD	1 Quarter
Net proceeds on revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Net proceeds on revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$3.60M	USD	1 Quarter
Payoff of 2017 asset acquisition debt acquired	`RepaymentsOfAssumedDebt`	-	USD	1 Quarter
Payoff of 2017 asset acquisition debt acquired	`RepaymentsOfAssumedDebt`	$2.02M	USD	1 Quarter
Payments on capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$7.25K	USD	1 Quarter
Payments on capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$53.84K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-53.84K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.58M	USD	1 Quarter
Net change cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$61.19K	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`	$3.95M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.08M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.15M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.92M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.95M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.08M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.15M	USD	Point-in-time
Interest paid	`InterestPaid`	$25.32K	USD	1 Quarter
Interest paid	`InterestPaid`	$94.43K	USD	1 Quarter
2017 asset acquisition stock issuance (See Note 13)	`StockIssued1`	-	USD	1 Quarter
2017 asset acquisition 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.