10-Q Filing

DIGITAL BRAND MEDIA & MARKETING GROUP, INC. CIK: 1127475 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001127475-14-000018`
Period End Date	20140531
Filing Date	20140723
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	dbmm-20140531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 65 Cash Flow Statement 56

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.01K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.92K	USD	Point-in-time
Convertible debentures	`ConvertibleDebtCurrent`	$321.59K	USD	Point-in-time
Convertible debentures	`ConvertibleDebtCurrent`	$448.42K	USD	Point-in-time
Common Stock, par value	`CommonStockValue`	$0.00	USD	Point-in-time
Cash	`Cash`	$56.94K	USD	Point-in-time
Common Stock, par value	`CommonStockValue`	$0.00	USD	Point-in-time
Common Stock, authorized	`CommonStockSharesAuthorized`	5.00B	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$35.52K	USD	Point-in-time
Common Stock, authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$40.69K	USD	Point-in-time
Common Stock, issued	`CommonStockSharesIssued`	38.07M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.49K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.36K	USD	Point-in-time
Common Stock, issued	`CommonStockSharesIssued`	1.79B	shares	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$99.12K	USD	Point-in-time
Common Stock, outstanding	`CommonStockSharesOutstanding`	1.79B	shares	Point-in-time
Common Stock, outstanding	`CommonStockSharesOutstanding`	38.07M	shares	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$41.88K	USD	Point-in-time
Property and equipment - net	`PropertyPlantAndEquipmentNet`	$1.01K	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment - net	`PropertyPlantAndEquipmentNet`	$1.92K	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
TOTAL ASSETS	`Assets`	$100.13K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$43.79K	USD	Point-in-time
Preferred Stock, authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Preferred Stock, authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Preferred 1 Stock, par value	`Preferred1StockParValue`	$0.00	USD	Point-in-time
Preferred 1 Stock, par value	`Preferred1StockParValue`	$0.00	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$414.23K	USD	Point-in-time
Preferred 1 Stock, designated	`Preferred1StockDesignated`	2.00M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$372.74K	USD	Point-in-time
Preferred 1 Stock, designated	`Preferred1StockDesignated`	2.00M	shares	Point-in-time
Preferred 1 Stock, issued	`Preferred1StockIssued`	993,407.00	shares	Point-in-time
Bank overdraft	`BankOverdrafts`	$5.13K	USD	Point-in-time
Preferred 1 Stock, issued	`Preferred1StockIssued`	870,185.00	shares	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$860.09K	USD	Point-in-time
Preferred 1 Stock, outstanding	`Preferred1StockOutstanding`	870,185.00	shares	Point-in-time
Preferred 1 Stock, outstanding	`Preferred1StockOutstanding`	993,407.00	shares	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$1.00M	USD	Point-in-time
Loan payable	`LoansPayable`	$512.00K	USD	Point-in-time
Preferred 2 Stock, par value	`Preferred2StockParValue`	$0.00	USD	Point-in-time
Preferred 2 Stock, par value	`Preferred2StockParValue`	$0.00	USD	Point-in-time
Loan payable	`LoansPayable`	$274.30K	USD	Point-in-time
Preferred 2 Stock, designated	`Preferred2StockDesignated`	2.00M	shares	Point-in-time
Derivative liability	`DerivativeLiabilities`	$151.33K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$275.93K	USD	Point-in-time
Preferred 2 Stock, designated	`Preferred2StockDesignated`	2.00M	shares	Point-in-time
Preferred 2 Stock, issued	`Preferred2StockIssued`	0.00	shares	Point-in-time
Preferred 2 Stock, issued	`Preferred2StockIssued`	0.00	shares	Point-in-time
Convertible debentures	`ConvertibleDebtCurrent`	$321.59K	USD	Point-in-time
Convertible debentures	`ConvertibleDebtCurrent`	$448.42K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$2.22M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$2.41M	USD	Point-in-time
Preferred 2 Stock, outstanding	`Preferred2StockOutstanding`	0.00	shares	Point-in-time
Preferred 2 Stock, outstanding	`Preferred2StockOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Series 1	`PreferredStockValue`	$993.00	USD	Point-in-time
Preferred Stock, Series 1	`PreferredStockValue`	$870.00	USD	Point-in-time
Common Stock	`CommonStockValueOutstanding`	$1.79M	USD	Point-in-time
Common Stock	`CommonStockValueOutstanding`	$38.07K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.88M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.74M	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.45K	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.63K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.95M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.98M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	`StockholdersEquity`	$-2.31M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	`StockholdersEquity`	$-2.18M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$43.79K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$100.13K	USD	Point-in-time

Income Statement 65 line items

Line Item	Tag	Value	Unit	Period
SALES	`SalesRevenueNet`	$329.77K	USD	3 Qtrs
SALES	`SalesRevenueNet`	$292.34K	USD	3 Qtrs
SALES	`SalesRevenueNet`	$79.90K	USD	1 Quarter
SALES	`SalesRevenueNet`	$105.89K	USD	1 Quarter
COST OF SALES	`CostOfGoodsSold`	$53.06K	USD	1 Quarter
COST OF SALES	`CostOfGoodsSold`	$152.10K	USD	3 Qtrs
COST OF SALES	`CostOfGoodsSold`	$47.56K	USD	1 Quarter
COST OF SALES	`CostOfGoodsSold`	$180.08K	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	$140.24K	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	$149.70K	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	$52.83K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$32.34K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$64.79K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$165.51K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$153.08K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$35.59K	USD	1 Quarter
Payroll	`SalariesAndWages`	$90.00K	USD	1 Quarter
Payroll	`SalariesAndWages`	$180.60K	USD	3 Qtrs
Payroll	`SalariesAndWages`	$379.63K	USD	3 Qtrs
Payroll	`SalariesAndWages`	$51.00K	USD	1 Quarter
Legal and professional fees	`LegalFees`	$200.57K	USD	3 Qtrs
Legal and professional fees	`LegalFees`	$-156.05K	USD	1 Quarter
Legal and professional fees	`LegalFees`	$76.89K	USD	1 Quarter
Legal and professional fees	`LegalFees`	$-195.00	USD	3 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$745.71K	USD	3 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$333.48K	USD	3 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$231.68K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$-69.46K	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$-605.47K	USD	3 Qtrs
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$-183.78K	USD	3 Qtrs
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$122.29K	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$-199.34K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpenseDebtExcludingAmortization`	$163.41K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpenseDebtExcludingAmortization`	$147.13K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpenseDebtExcludingAmortization`	$301.46K	USD	3 Qtrs
INTEREST EXPENSE	`InterestExpenseDebtExcludingAmortization`	$542.70K	USD	3 Qtrs
CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITY	`FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$591.11K	USD	1 Quarter
CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITY	`FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$31.61K	USD	3 Qtrs
CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITY	`FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$174.19K	USD	1 Quarter
CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITY	`FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$122.40K	USD	3 Qtrs
(GAIN) LOSS ON SETTLEMENT OF DEBT	`GainsLossesOnRestructuringOfDebt`	$-33.15K	USD	3 Qtrs
TOTAL OTHER (INCOME) EXPENSE	`OtherNonoperatingIncomeExpense`	$443.98K	USD	1 Quarter
TOTAL OTHER (INCOME) EXPENSE	`OtherNonoperatingIncomeExpense`	$-236.69K	USD	3 Qtrs
TOTAL OTHER (INCOME) EXPENSE	`OtherNonoperatingIncomeExpense`	$-420.30K	USD	3 Qtrs
TOTAL OTHER (INCOME) EXPENSE	`OtherNonoperatingIncomeExpense`	$10.78K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$244.64K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$133.07K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-1.03M	USD	3 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$-420.48K	USD	3 Qtrs
Foreign exchange translation expense	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$2.17K	USD	3 Qtrs
Foreign exchange translation expense	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-12.74K	USD	1 Quarter
Foreign exchange translation expense	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-1.89K	USD	3 Qtrs
Foreign exchange translation expense	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-662.00	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`OtherComprehensiveIncomeLossBeforeTax`	$-1.03M	USD	3 Qtrs
COMPREHENSIVE INCOME (LOSS)	`OtherComprehensiveIncomeLossBeforeTax`	$243.37K	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`OtherComprehensiveIncomeLossBeforeTax`	$-422.36K	USD	3 Qtrs
COMPREHENSIVE INCOME (LOSS)	`OtherComprehensiveIncomeLossBeforeTax`	$132.41K	USD	1 Quarter
BASIC AND DILUTED - LOSS PER SHARE	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	3 Qtrs
BASIC AND DILUTED - LOSS PER SHARE	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
BASIC AND DILUTED - LOSS PER SHARE	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
BASIC AND DILUTED - LOSS PER SHARE	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	625.41M	shares	3 Qtrs
Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.86M	shares	1 Quarter
Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.29B	shares	1 Quarter
Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.86M	shares	3 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.03M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-420.48K	USD	3 Qtrs
Fair value of preferred shares issued for compensation	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$27.60K	USD	3 Qtrs
Fair value of shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$144.99K	USD	3 Qtrs
Fair value of shares issued for interest	`StockIssuedDuringPeriodValueOther`	$72.48K	USD	3 Qtrs
Depreciation	`Depreciation`	$2.10K	USD	3 Qtrs
Depreciation	`Depreciation`	$1.40K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$417.59K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$170.97K	USD	3 Qtrs
Change in fair value fo derivative liability	`IncreaseDecreaseInFairValueOfPriceRiskFairValueHedgingInstruments1`	$-122.40K	USD	3 Qtrs
Change in fair value fo derivative liability	`IncreaseDecreaseInFairValueOfPriceRiskFairValueHedgingInstruments1`	$-31.61K	USD	3 Qtrs
Additional compensation for debt restructuring	`AdditionalCompensationForDebtRestructuring`	$70.43K	USD	3 Qtrs
Reversal of preferred shares cancelled	`ReversalOfPreferredSharesCancelled`	$-219.80K	USD	3 Qtrs
(Gain) loss on settlement of debt	`GainsLossesOnRestructuringOfDebt`	$-33.15K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.17K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.80K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$4.86K	USD	3 Qtrs
Accrued salaries	`IncreaseDecreaseInAccruedSalaries`	$86.99K	USD	3 Qtrs
Accrued salaries	`IncreaseDecreaseInAccruedSalaries`	$141.40K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$73.76K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$90.69K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-296.86K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-260.06K	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquireProductiveAssets`	$-417.00	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquireProductiveAssets`	$-493.00	USD	3 Qtrs
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-493.00	USD	3 Qtrs
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-417.00	USD	3 Qtrs
Bank overdraft	`IncreaseDecreaseInBookOverdrafts`	$-5.13K	USD	3 Qtrs
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$125.00K	USD	3 Qtrs
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$149.00K	USD	3 Qtrs
Proceeds from loans payable	`ProceedsFromLoans`	$252.60K	USD	3 Qtrs
Proceeds from loans payable	`ProceedsFromLoans`	$104.50K	USD	3 Qtrs
Payments made for loans payable	`RepaymentsOfDebt`	$-15.00K	USD	3 Qtrs
Payments made for loans payable	`RepaymentsOfDebt`	$-40.00K	USD	3 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$356.46K	USD	3 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$214.50K	USD	3 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$-45.98K	USD	3 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$59.11K	USD	3 Qtrs
EFFECT OF VARIATION OF EXCHANGE RATE OF CASH HELD IN FOREIGN CURRENCY	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.17K	USD	3 Qtrs
EFFECT OF VARIATION OF EXCHANGE RATE OF CASH HELD IN FOREIGN CURRENCY	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.96K	USD	3 Qtrs
CASH - BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$56.94K	USD	Point-in-time
CASH - BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$30.19K	USD	Point-in-time
CASH - BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$78.13K	USD	Point-in-time
CASH - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$56.94K	USD	Point-in-time
CASH - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$30.19K	USD	Point-in-time
CASH - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$78.13K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$2.00K	USD	3 Qtrs
Restructuring of convertible debt	`AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebtSubsequentAdjustments`	$450.30K	USD	3 Qtrs
Restructuring of convertible debt	`AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebtSubsequentAdjustments`	$110.00K	USD	3 Qtrs
Stock issued in connection with conversion of debentures	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$399.23K	USD	3 Qtrs
Stock issued in connection with conversion of debentures	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$69.40K	USD	3 Qtrs
Conversion of preferred stock into common stock	`ConvertiblePreferredStockConvertedToOtherSecurities`	$26.96K	USD	3 Qtrs
Conversion of accrued salaries into preferred stock	`ConversionOfAccruedSalariesIntoPreferredStock`	$2.67K	USD	3 Qtrs
Debt discount associated with derivative liability	`DebtDiscountAssociatedWithDerivativeLiability`	$247.00K	USD	3 Qtrs
Debt discount associated with convertible debt	`DebtDiscountAssociatedWithConvertibleDebt`	$274.65K	USD	3 Qtrs
Debt discount associated with convertible debt	`DebtDiscountAssociatedWithConvertibleDebt`	$80.00K	USD	3 Qtrs

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