10-K Filing

FULLNET COMMUNICATIONS INC CIK: 1092570 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001092570-12-000019`
Period End Date	20111231
Filing Date	20120329
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	fulo-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 36 Cash Flow Statement 42 Stockholders Equity 20

Balance Sheet 47 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$10.86K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.90K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$10.99K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.85M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.98M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$16.12K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$79.54K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.09K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.29K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$104.82K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.07K	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$78.14K	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$86.06K	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$5.91K	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$5.29K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$188.87K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$124.42K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$395.20K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$399.88K	USD	Point-in-time
Accrued and other liabilities, current portion	`OtherLiabilitiesCurrent`	$1.01M	USD	Point-in-time
Accrued and other liabilities, current portion	`OtherLiabilitiesCurrent`	$1.04M	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$328.08K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$77.45K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$173.95K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$133.86K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.65M	USD	Point-in-time
ACCRUED AND OTHER LIABILITIES, less current portion	`OtherLiabilitiesNoncurrent`	$23.48K	USD	Point-in-time
ACCRUED AND OTHER LIABILITIES, less current portion	`OtherLiabilitiesNoncurrent`	$18.27K	USD	Point-in-time
NOTES PAYABLE, less current portion	`LongTermNotesPayable`	$274.85K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.94M	USD	Point-in-time
Common stock	`CommonStockValueOutstanding`	$79.00	USD	Point-in-time
Common stock	`CommonStockValueOutstanding`	$90.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.41M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$8.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.22M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.55M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.82M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.74M	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$188.87K	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$124.42K	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Access service revenues	`SalesRevenueNet`	$287.77K	USD	Annual
Access service revenues	`SalesRevenueNet`	$233.90K	USD	Annual
Co-location and other revenues	`OtherSalesRevenueNet`	$1.40M	USD	Annual
Co-location and other revenues	`OtherSalesRevenueNet`	$1.64M	USD	Annual
Total revenues	`Revenues`	$1.87M	USD	Annual
Total revenues	`Revenues`	$1.69M	USD	Annual
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$183.44K	USD	Annual
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$172.94K	USD	Annual
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$365.93K	USD	Annual
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$389.58K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.23M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.38M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$62.32K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$54.27K	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$1.82M	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$2.02M	USD	Annual
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$52.21K	USD	Annual
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-328.95K	USD	Annual
OTHER INCOME	`OtherIncome`	$1.20M	USD	Annual
OTHER INCOME	`OtherIncome`	$37.27K	USD	Annual
INTEREST EXPENSE	`InterestExpense`	$81.67K	USD	Annual
INTEREST EXPENSE	`InterestExpense`	$24.15K	USD	Annual
INCOME before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$65.33K	USD	Annual
INCOME before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$787.88K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
NET INCOME	`NetIncomeLoss`	$787.88K	USD	Annual
NET INCOME	`NetIncomeLoss`	$65.33K	USD	Annual
Net income per common share -basic	`EarningsPerShareBasic`	$0.10	USD	Annual
Net income per common share -basic	`EarningsPerShareBasic`	$0.01	USD	Annual
Net income per common share - assuming dilution	`EarningsPerShareDiluted`	$0.10	USD	Annual
Net income per common share - assuming dilution	`EarningsPerShareDiluted`	$0.01	USD	Annual
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.32M	shares	Annual
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.92M	shares	Annual
Weighted average shares outstanding - assuming dilution	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.27M	shares	Annual
Weighted average shares outstanding - assuming dilution	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.05M	shares	Annual

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$787.88K	USD	Annual
Net income	`NetIncomeLoss`	$65.33K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$62.32K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$54.27K	USD	Annual
Stock compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$2.56K	USD	Annual
Stock compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$96.00	USD	Annual
Other income	`OtherIncome`	$1.20M	USD	Annual
Other income	`OtherIncome`	$37.27K	USD	Annual
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$7.90K	USD	Annual
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$3.08K	USD	Annual
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-29.23K	USD	Annual
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-8.97K	USD	Annual
Net (increase) decrease in Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$5.61K	USD	Annual
Net (increase) decrease in Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-8.20K	USD	Annual
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$72.05K	USD	Annual
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-4.68K	USD	Annual
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-24.19K	USD	Annual
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$259.26K	USD	Annual
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$40.09K	USD	Annual
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$37.80K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$61.75K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$25.43K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-26.48K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-36.91K	USD	Annual
Acquisition of business	`PaymentsToAcquireBusinessesGross`	$-10.06K	USD	Annual
Acquisition of business	`PaymentsToAcquireBusinessesGross`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-46.97K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-26.48K	USD	Annual
Principal payments on borrowings under notes payable	`RepaymentsOfNotesPayable`	$-23.11K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$8.46K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.65K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.05K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$131.00	USD	Annual
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.86K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.90K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.99K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.86K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.90K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.99K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$21.70K	USD	Annual
Cash paid for interest	`InterestPaid`	$19.57K	USD	Annual
Warrant extension granted in settlement of liabilities	`DebtConversionOriginalDebtAmount1`	$1.11K	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Stockholders' deficit	`StockholdersEquity`	$-2.55M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.82M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.74M	USD	Point-in-time
Shares outstanding	`CommonStockSharesOutstanding`	7.85M	shares	Point-in-time
Shares outstanding	`CommonStockSharesOutstanding`	7.85M	shares	Point-in-time
Shares outstanding	`CommonStockSharesOutstanding`	8.98M	shares	Point-in-time
Stock compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$2.56K	USD	Annual
Stock compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$96.00	USD	Annual
Statute of limitaton write-off	`AdjustmentsToAdditionalPaidInCapitalOther`	$-57.60K	USD	Annual
Stock options exercise	`ProceedsFromStockOptionsExercised`	$8.46K	USD	Annual
Stock options exercise, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	1.13M	shares	Annual
Warrant extension granted in settlement of liabilities	`DebtConversionOriginalDebtAmount1`	$1.11K	USD	Annual
Net income	`NetIncomeLoss`	$787.88K	USD	Annual
Net income	`NetIncomeLoss`	$65.33K	USD	Annual
Stockholders' deficit	`StockholdersEquity`	$-2.55M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.82M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.74M	USD	Point-in-time
Shares outstanding	`CommonStockSharesOutstanding`	7.85M	shares	Point-in-time
Shares outstanding	`CommonStockSharesOutstanding`	7.85M	shares	Point-in-time
Shares outstanding	`CommonStockSharesOutstanding`	8.98M	shares	Point-in-time

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