10-Q Filing

LogicMark, Inc. CIK: 1566826 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001019687-13-004302`
Period End Date	20130930
Filing Date	20131114
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	nxti-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 56 Cash Flow Statement 57

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$99.00	USD	Point-in-time
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$396.00	USD	Point-in-time
Cash	`Cash`	$26.30K	USD	Point-in-time
Net of discount of convertible notes payable	`DebtInstrumentCarryingAmount`	$33.86K	USD	Point-in-time
Cash	`Cash`	$135.82K	USD	Point-in-time
Inventory	`InventoryNet`	-	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$4.07K	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$135.82K	USD	Point-in-time
Preferred Stock, Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$30.38K	USD	Point-in-time
Preferred Stock, Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net of accumulated depreciation of $396 and $99	`PropertyPlantAndEquipmentNet`	$1.88K	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $396 and $99	`PropertyPlantAndEquipmentNet`	$2.98K	USD	Point-in-time
Total Assets	`Assets`	$33.36K	USD	Point-in-time
Total Assets	`Assets`	$137.70K	USD	Point-in-time
Preferred Stock, Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$200.17K	USD	Point-in-time
Common Stock, Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$69.28K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$115.00K	USD	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	20.75M	shares	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	21.72M	shares	Point-in-time
Common Stock, Outstanding	`CommonStockSharesOutstanding`	21.72M	shares	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$315.18K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$69.28K	USD	Point-in-time
Common Stock, Outstanding	`CommonStockSharesOutstanding`	20.75M	shares	Point-in-time
Convertible notes payable, net of discount of $33,857	`ConvertibleNotesPayable`	$116.14K	USD	Point-in-time
Convertible notes payable, net of discount of $33,857	`ConvertibleNotesPayable`	$75.00K	USD	Point-in-time
Conversion feature liability	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Conversion feature liability	`DerivativeLiabilitiesNoncurrent`	$82.53K	USD	Point-in-time
Total Liabilities	`Liabilities`	$144.28K	USD	Point-in-time
Total Liabilities	`Liabilities`	$513.85K	USD	Point-in-time
Preferred stock, $0.0001 par value: 10,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value: 10,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value: 100,000,000 shares authorized; 21,724,677 and 20,752,000 issued and outstanding, respectively	`CommonStockValue`	$2.08K	USD	Point-in-time
Common stock, $0.0001 par value: 100,000,000 shares authorized; 21,724,677 and 20,752,000 issued and outstanding, respectively	`CommonStockValue`	$2.17K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$200.22K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$801.96K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-208.88K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.28M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-480.49K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-6.58K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$137.70K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$33.36K	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Costs of goods sold	`CostOfRevenue`	-	USD	1 Quarter
Costs of goods sold	`CostOfRevenue`	-	USD	1 Quarter
Costs of goods sold	`CostOfRevenue`	-	USD	3 Qtrs
Costs of goods sold	`CostOfRevenue`	-	USD	3 Qtrs
Gross Profit	`GrossProfit`	-	USD	3 Qtrs
Gross Profit	`GrossProfit`	-	USD	3 Qtrs
Gross Profit	`GrossProfit`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$572.15K	USD	3 Qtrs
General and administrative	`SellingGeneralAndAdministrativeExpense`	$88.53K	USD	3 Qtrs
General and administrative	`SellingGeneralAndAdministrativeExpense`	$246.14K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$38.51K	USD	1 Quarter
Selling	`SellingExpense`	$9.82K	USD	3 Qtrs
Selling	`SellingExpense`	$4.33K	USD	1 Quarter
Selling	`SellingExpense`	-	USD	3 Qtrs
Selling	`SellingExpense`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$432.36K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$170.35K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$59.32K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$7.03K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$147.85K	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$420.83K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$45.53K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.01M	USD	3 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-1.01M	USD	3 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-45.53K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-147.85K	USD	3 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-420.83K	USD	1 Quarter
Interest and other expenses, net	`InterestExpense`	$23.86K	USD	3 Qtrs
Interest and other expenses, net	`InterestExpense`	$13.97K	USD	1 Quarter
Interest and other expenses, net	`InterestExpense`	-	USD	1 Quarter
Interest and other expenses, net	`InterestExpense`	-	USD	3 Qtrs
Unrealized loss on change in fair value of the conversion feature	`UnrealizedGainLossOnDerivatives`	$-37.56K	USD	3 Qtrs
Unrealized loss on change in fair value of the conversion feature	`UnrealizedGainLossOnDerivatives`	-	USD	1 Quarter
Unrealized loss on change in fair value of the conversion feature	`UnrealizedGainLossOnDerivatives`	$-39.20K	USD	1 Quarter
Unrealized loss on change in fair value of the conversion feature	`UnrealizedGainLossOnDerivatives`	-	USD	3 Qtrs
Total Other Expense	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Total Other Expense	`OtherNonoperatingIncomeExpense`	-	USD	3 Qtrs
Total Other Expense	`OtherNonoperatingIncomeExpense`	$-61.42K	USD	3 Qtrs
Total Other Expense	`OtherNonoperatingIncomeExpense`	$-53.17K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.08M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-147.85K	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-45.53K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-474.00K	USD	1 Quarter
Net Loss Per Common Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	3 Qtrs
Net Loss Per Common Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net Loss Per Common Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Net Loss Per Common Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.02M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.01M	shares	3 Qtrs
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.57M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.26M	shares	3 Qtrs

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.08M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-147.85K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-45.53K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-474.00K	USD	1 Quarter
Depreciation	`Depreciation`	-	USD	3 Qtrs
Depreciation	`Depreciation`	$297.00	USD	3 Qtrs
Stock- based compensation	`ShareBasedCompensation`	$255.40K	USD	3 Qtrs
Stock- based compensation	`ShareBasedCompensation`	-	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$11.11K	USD	3 Qtrs
Fair value adjustment of conversion feature	`AssetsFairValueAdjustment`	$37.56K	USD	3 Qtrs
Fair value adjustment of conversion feature	`AssetsFairValueAdjustment`	-	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-10.52K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-4.07K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$105.83K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$245.90K	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	-	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$100.55K	USD	3 Qtrs
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$195.86K	USD	3 Qtrs
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$546.19K	USD	3 Qtrs
Net Cash (Used in) Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$48.01K	USD	3 Qtrs
Net Cash (Used in) Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-529.56K	USD	3 Qtrs
Purchase of equipment	`EquipmentExpense`	$-1.98K	USD	3 Qtrs
Purchase of equipment	`EquipmentExpense`	$-1.40K	USD	3 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.40K	USD	3 Qtrs
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.98K	USD	3 Qtrs
Proceeds received in connection with issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$7.50K	USD	3 Qtrs
Proceeds received in connection with issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$246.44K	USD	3 Qtrs
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$75.00K	USD	3 Qtrs
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	3 Qtrs
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	-	USD	3 Qtrs
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	$100.00K	USD	1 Quarter
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	$100.00K	USD	3 Qtrs
Capital contributions-founders	`PartnersCapitalAccountContributions`	-	USD	3 Qtrs
Capital contributions-founders	`PartnersCapitalAccountContributions`	$-4.30K	USD	3 Qtrs
Proceeds from advances made by officer	`ProceedsFromRelatedPartyDebt`	-	USD	3 Qtrs
Proceeds from advances made by officer	`ProceedsFromRelatedPartyDebt`	$64.00K	USD	3 Qtrs
Repayments of advances made by officer	`RepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Repayments of advances made by officer	`RepaymentsOfRelatedPartyDebt`	$64.00K	USD	3 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$11.80K	USD	3 Qtrs
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$421.44K	USD	3 Qtrs
Net(Decrease)/ Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$57.83K	USD	3 Qtrs
Net(Decrease)/ Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-109.52K	USD	3 Qtrs
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$135.82K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$339.00	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$58.16K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$26.30K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$135.82K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$339.00	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$58.16K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$26.30K	USD	Point-in-time
Interest	`InterestPaid`	-	USD	3 Qtrs
Interest	`InterestPaid`	-	USD	3 Qtrs
Taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Conversion feature in connection with note payable issuance	`ConversionFeatureInConnectionWithNotePayableIssuance`	$44.97K	USD	3 Qtrs
Conversion feature in connection with note payable issuance	`ConversionFeatureInConnectionWithNotePayableIssuance`	-	USD	3 Qtrs

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