10-Q/A Filing

DIGITAL BRAND MEDIA & MARKETING GROUP, INC. CIK: 1127475 Q1 2014

Filing Information

Form Type	10-Q/A
Accession Number	`0001127475-14-000024`
Period End Date	20131130
Filing Date	20140924
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	dbmm-20131130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 34 Cash Flow Statement 47

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.92K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.58K	USD	Point-in-time
Convertible debentures	`ConvertibleDebtCurrent`	$244.78K	USD	Point-in-time
Convertible debentures	`ConvertibleDebtCurrent`	$341.59K	USD	Point-in-time
Common Stock, par value	`CommonStockValue`	$0.00	USD	Point-in-time
Common Stock, par value	`CommonStockValue`	$0.00	USD	Point-in-time
Cash	`Cash`	$18.02K	USD	Point-in-time
Cash	`Cash`	$21.62K	USD	Point-in-time
Common Stock, authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common Stock, authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$35.52K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$57.75K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.46K	USD	Point-in-time
Common Stock, issued	`CommonStockSharesIssued`	125.53M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.36K	USD	Point-in-time
Common Stock, issued	`CommonStockSharesIssued`	38.07M	shares	Point-in-time
Common Stock, outstanding	`CommonStockSharesOutstanding`	38.07M	shares	Point-in-time
Common Stock, outstanding	`CommonStockSharesOutstanding`	125.53M	shares	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$80.83K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$59.89K	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
Property and equipment - net	`PropertyPlantAndEquipmentNet`	$1.58K	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
TOTAL ASSETS	`Assets`	$61.81K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$82.41K	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`	$372.74K	USD	Point-in-time
Preferred 1 Stock, designated	`Preferred1StockDesignated`	2.00M	shares	Point-in-time
Preferred 1 Stock, designated	`Preferred1StockDesignated`	2.00M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$449.84K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$23.15K	USD	Point-in-time
Preferred 1 Stock, issued	`Preferred1StockIssued`	993,407.00	shares	Point-in-time
Preferred 1 Stock, issued	`Preferred1StockIssued`	870,185.00	shares	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$737.85K	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$784.85K	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
Loan payable	`LoansPayable`	$419.80K	USD	Point-in-time
Preferred 2 Stock, par value	`Preferred2StockParValue`	$0.00	USD	Point-in-time
Loan payable	`LoansPayable`	$492.00K	USD	Point-in-time
Preferred 2 Stock, par value	`Preferred2StockParValue`	$0.00	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$302.76K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$151.33K	USD	Point-in-time
Preferred 2 Stock, designated	`Preferred2StockDesignated`	2.00M	shares	Point-in-time
Preferred 2 Stock, designated	`Preferred2StockDesignated`	2.00M	shares	Point-in-time
Convertible debentures	`ConvertibleDebtCurrent`	$244.78K	USD	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`	$341.59K	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
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$2.12M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$2.20M	USD	Point-in-time
Preferred Stock, Series 1	`PreferredStockValue`	$870.00	USD	Point-in-time
Preferred Stock, Series 1	`PreferredStockValue`	$993.00	USD	Point-in-time
Common Stock	`CommonStockValueOutstanding`	$38.07K	USD	Point-in-time
Common Stock	`CommonStockValueOutstanding`	$125.53K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.74M	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.45K	USD	Point-in-time
Accumulated comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.47K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.83M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	`StockholdersEquity`	$-2.12M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	`StockholdersEquity`	$-2.06M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$82.41K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$61.81K	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
SALES	`SalesRevenueNet`	$137.49K	USD	1 Quarter
SALES	`SalesRevenueNet`	$102.68K	USD	1 Quarter
COST OF SALES	`CostOfGoodsSold`	$50.71K	USD	1 Quarter
COST OF SALES	`CostOfGoodsSold`	$70.28K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$67.21K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$51.97K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$46.76K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$64.80K	USD	1 Quarter
Compensation expense	`SalariesAndWages`	$195.99K	USD	1 Quarter
Compensation expense	`SalariesAndWages`	$78.60K	USD	1 Quarter
Legal and professional fees	`LegalFees`	$92.17K	USD	1 Quarter
Legal and professional fees	`LegalFees`	$95.74K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$334.91K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$239.14K	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$-171.93K	USD	1 Quarter
OPERATING INCOME (LOSS)	`OperatingIncomeLoss`	$-282.94K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpenseDebtExcludingAmortization`	$75.06K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpenseDebtExcludingAmortization`	$230.24K	USD	1 Quarter
CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITY	`FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-2.88K	USD	1 Quarter
CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITY	`FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-26.43K	USD	1 Quarter
(GAIN) LOSS ON SETTLEMENT OF DEBT	`GainsLossesOnRestructuringOfDebt`	$33.15K	USD	1 Quarter
OTHER INTEREST - MODIFICATION EXPENSE	`InterestExpenseOther`	$1.45K	USD	1 Quarter
TOTAL OTHER (INCOME) EXPENSE	`OtherNonoperatingIncomeExpense`	$258.11K	USD	1 Quarter
TOTAL OTHER (INCOME) EXPENSE	`OtherNonoperatingIncomeExpense`	$44.79K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-541.05K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-216.72K	USD	1 Quarter
Foreign exchange translation expense	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$1.02K	USD	1 Quarter
Foreign exchange translation expense	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-429.00	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`OtherComprehensiveIncomeLossBeforeTax`	$-542.07K	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`OtherComprehensiveIncomeLossBeforeTax`	$-216.29K	USD	1 Quarter
BASIC AND DILUTED - LOSS PER SHARE	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
BASIC AND DILUTED - LOSS PER SHARE	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	100.83M	shares	1 Quarter
Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.50M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-216.72K	USD	1 Quarter
Net loss	`ProfitLoss`	$-541.05K	USD	1 Quarter
Fair value of preferred shares issued for compensation	`StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants`	$27.60K	USD	1 Quarter
Fair value of preferred shares issued for bonus	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$144.99K	USD	1 Quarter
Depreciation	`Depreciation`	$827.00	USD	1 Quarter
Depreciation	`Depreciation`	$759.00	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$57.12K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$166.07K	USD	1 Quarter
Change in fair value fo derivative liability	`IncreaseDecreaseInFairValueOfPriceRiskFairValueHedgingInstruments1`	$26.43K	USD	1 Quarter
Change in fair value fo derivative liability	`IncreaseDecreaseInFairValueOfPriceRiskFairValueHedgingInstruments1`	$2.88K	USD	1 Quarter
(Gain) loss on settlement of debt	`GainsLossesOnRestructuringOfDebt`	$33.15K	USD	1 Quarter
Bad debt expense (recovery)	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	$-24.82K	USD	1 Quarter
Bad debt expense (recovery)	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	$7.21K	USD	1 Quarter
Interest related to modification of conversion price of debt	`DebtInstrumentIncreaseAccruedInterest`	$1.45K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$328.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-22.23K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$4.90K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInAccruedSalaries`	$47.01K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInAccruedSalaries`	$35.81K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$77.18K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$60.78K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-94.44K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-64.60K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquireProductiveAssets`	$-493.00	USD	1 Quarter
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-493.00	USD	1 Quarter
Bank overdraft	`IncreaseDecreaseInBookOverdrafts`	$-23.15K	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$5.00K	USD	1 Quarter
Proceeds from loans payable	`ProceedsFromLoans`	$120.30K	USD	1 Quarter
Proceeds from loans payable	`ProceedsFromLoans`	$44.50K	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$97.15K	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$49.50K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$2.21K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH	`CashPeriodIncreaseDecrease`	$-15.10K	USD	1 Quarter
EFFECT OF VARIATION OF EXCHANGE RATE OF CASH HELD IN FOREIGN CURRENCY	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.39K	USD	1 Quarter
EFFECT OF VARIATION OF EXCHANGE RATE OF CASH HELD IN FOREIGN CURRENCY	`EffectOfExchangeRateOnCashAndCashEquivalents`	$509.00	USD	1 Quarter
CASH - BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$21.62K	USD	Point-in-time
CASH - BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$78.13K	USD	Point-in-time
CASH - BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$63.54K	USD	Point-in-time
CASH - BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$18.02K	USD	Point-in-time
CASH - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$21.62K	USD	Point-in-time
CASH - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$78.13K	USD	Point-in-time
CASH - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$63.54K	USD	Point-in-time
CASH - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$18.02K	USD	Point-in-time
Conversion of loans payable into common stock	`ConversionOfLoansPayableIntoCommonStock`	$67.02K	USD	1 Quarter
Conversion of interest expense into convertible notes payable	`ConversionOfInterestExpenseIntoConvertibleNotesPayable`	$12.50K	USD	1 Quarter
Debt discount associated with derivative liability	`DebtDiscountAssociatedWithDerivativeLiability`	$125.01K	USD	1 Quarter
Debt discount associated with convertible debt	`DebtDiscountAssociatedWithConvertibleDebt`	$152.50K	USD	1 Quarter

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