10-Q Filing

FULLNET COMMUNICATIONS INC CIK: 1092570 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001140705-18-000122`
Period End Date	20180331
Filing Date	20180515
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	fulo-20180331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 50 Cash Flow Statement 70 Stockholders Equity 7

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$143.42K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$29.45K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	987,102.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$29.40K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	987,102.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$19.38K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$673.00	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	987,102.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	987,102.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$8.85K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$6.11K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$28.87K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$172.96K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.36K	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentGross`	$39.45K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	11.87M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentGross`	$43.18K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	11.87M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	11.87M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	11.87M	shares	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`Goodwill`	$19.60K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`Goodwill`	$21.81K	USD	Point-in-time
ASSETS OF DISCONTINUED OPERATIONS, net (NOTE 8)	`DeferredTaxAssetParentsBasisInDiscontinuedOperation`	$23.78K	USD	Point-in-time
ASSETS OF DISCONTINUED OPERATIONS, net (NOTE 8)	`DeferredTaxAssetParentsBasisInDiscontinuedOperation`	$29.34K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$134.97K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$259.53K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$41.11K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$37.37K	USD	Point-in-time
Accounts payable, related party	`DueToRelatedPartiesCurrent`	$516.00	USD	Point-in-time
Accounts payable, related party	`DueToRelatedPartiesCurrent`	$7.98K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesCurrent`	$610.11K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesCurrent`	$638.54K	USD	Point-in-time
Convertible notes payable, related party - current portion	`UnsecuredDebtCurrent`	$5.35K	USD	Point-in-time
Convertible notes payable, related party - current portion	`UnsecuredDebtCurrent`	$7.20K	USD	Point-in-time
Deferred revenue	`OtherLiabilitiesCurrent`	$435.28K	USD	Point-in-time
Deferred revenue	`OtherLiabilitiesCurrent`	$397.93K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.06M	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - less current portion	`DueToRelatedPartiesNoncurrent`	$24.73K	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - less current portion	`DueToRelatedPartiesNoncurrent`	$27.89K	USD	Point-in-time
Liabilities of Discontinued Operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation`	$82.25K	USD	Point-in-time
Liabilities of Discontinued Operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation`	$193.81K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.28M	USD	Point-in-time
Preferred Stock, Value	`PreferredStockValue`	$618.67K	USD	Point-in-time
Preferred Stock, Value	`PreferredStockValue`	$625.40K	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$119.00	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$119.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.70M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.64M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.30M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.41M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.15M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-970.10K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$259.53K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$134.97K	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Access service revenues	`SalesRevenueServicesGross`	$10.21K	USD	1 Quarter
Access service revenues	`SalesRevenueServicesGross`	$11.86K	USD	1 Quarter
Co-location and other revenues	`OtherSalesRevenueNet`	$453.72K	USD	1 Quarter
Co-location and other revenues	`OtherSalesRevenueNet`	$496.85K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$465.58K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$507.06K	USD	1 Quarter
Cost of access service revenues	`CostOfServicesDirectMaterials`	$2.53K	USD	1 Quarter
Cost of access service revenues	`CostOfServicesDirectMaterials`	$2.43K	USD	1 Quarter
Cost of co-location and other revenues	`OtherCostOfServices`	$46.31K	USD	1 Quarter
Cost of co-location and other revenues	`OtherCostOfServices`	$33.99K	USD	1 Quarter
Selling, general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$393.12K	USD	1 Quarter
Selling, general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$550.36K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.39K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.77K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$603.58K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$434.31K	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$31.27K	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-96.52K	USD	1 Quarter
OTHER INCOME	`OtherOperatingIncome`	-	USD	1 Quarter
OTHER INCOME	`OtherOperatingIncome`	$6.00K	USD	1 Quarter
INTEREST EXPENSE	`InvestmentIncomeInterest`	$-330.00	USD	1 Quarter
INTEREST EXPENSE	`InvestmentIncomeInterest`	$-754.00	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$4.67K	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-95.52K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$30.51K	USD	1 Quarter
Gain from sale of discontinued asset	`DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax`	-	USD	1 Quarter
Gain from sale of discontinued asset	`DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax`	$233.28K	USD	1 Quarter
Net Income (Loss) from Discontinued Operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$-25.32K	USD	1 Quarter
Net Income (Loss) from Discontinued Operations	`DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax`	$-31.32K	USD	1 Quarter
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$106.44K	USD	1 Quarter
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$5.19K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$6.72K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$6.72K	USD	1 Quarter
Net income (loss) available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$99.71K	USD	1 Quarter
Net income (loss) available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.53K	USD	1 Quarter
Continuing operations - basic	`IncomeLossFromContinuingOperationsPerBasicShare`	-	USD	1 Quarter
Continuing operations - basic	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.01	USD	1 Quarter
Continuing operations - diluted	`IncomeLossFromContinuingOperationsPerDilutedShare`	-	USD	1 Quarter
Continuing operations - diluted	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.01	USD	1 Quarter
Discontinued operations - basic	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued operations - basic	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.02	USD	1 Quarter
Discontinued operations - diluted	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.02	USD	1 Quarter
Discontinued operations - diluted	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Net Income - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net Income - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Weighted average shares and share equivalents outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	11.87M	shares	1 Quarter
Weighted average shares and share equivalents outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	11.87M	shares	1 Quarter
Weighted average shares and share equivalents outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.87M	shares	1 Quarter
Weighted average shares and share equivalents outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.29M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$106.44K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$5.19K	USD	1 Quarter
(Income) loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-25.32K	USD	1 Quarter
(Income) loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$201.96K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.77K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.39K	USD	1 Quarter
Stock options compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	$1.65K	USD	1 Quarter
Stock options compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	$68.94K	USD	1 Quarter
Provision for uncollectible accounts receivable	`ProvisionForLoanLeaseAndOtherLosses`	$110.00	USD	1 Quarter
Provision for uncollectible accounts receivable	`ProvisionForLoanLeaseAndOtherLosses`	$238.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-378.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-8.07K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$22.76K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$19.02K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-17.17K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$3.74K	USD	1 Quarter
Accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-7.47K	USD	1 Quarter
Accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-13.94K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$22.16K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$28.43K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredLiabilities`	$37.35K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredLiabilities`	$39.60K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$49.19K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$25.29K	USD	1 Quarter
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$766.00	USD	1 Quarter
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.92K	USD	1 Quarter
Cash paid for intangible asset	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Cash paid for intangible asset	`PaymentsToAcquireIntangibleAssets`	$7.70K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.92K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.47K	USD	1 Quarter
Principal payments on borrowings under notes payable - related party	`ProceedsFromRelatedPartyDebt`	$-1.65K	USD	1 Quarter
Principal payments on borrowings under notes payable - related party	`ProceedsFromRelatedPartyDebt`	$-1.31K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.65K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.31K	USD	1 Quarter
Net cash used in operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-5.60K	USD	Point-in-time
Net cash used in operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-19.81K	USD	1 Quarter
Net cash used in operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-5.60K	USD	1 Quarter
Net cash used in operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-19.81K	USD	Point-in-time
Net cash provided by investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$218.15K	USD	1 Quarter
Net cash provided by investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net cash provided by investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	Point-in-time
Net cash provided by investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$218.15K	USD	Point-in-time
Net cash used in financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$-116.59K	USD	1 Quarter
Net cash used in financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$-116.59K	USD	Point-in-time
Net cash used in financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$-9.19K	USD	Point-in-time
Net cash used in financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$-9.19K	USD	1 Quarter
Net cash provided by (used in) discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$-29.01K	USD	Point-in-time
Net cash provided by (used in) discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$-29.01K	USD	1 Quarter
Net cash provided by (used in) discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$95.96K	USD	1 Quarter
Net cash provided by (used in) discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$95.96K	USD	Point-in-time
NET INCREASE (DECREASE) IN CASH - CONTINUING OPERATIONS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$114.02K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH - CONTINUING OPERATIONS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.07K	USD	1 Quarter
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$143.42K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$29.45K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$29.40K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$19.38K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$143.42K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$29.45K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$29.40K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$19.38K	USD	Point-in-time
Cash paid for income tax	`IncomeTaxesPaidNet`	$4.67K	USD	1 Quarter
Cash paid for income tax	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for interest - continuing operations	`CashPaidForInterestContinuingOperations`	$754.00	USD	1 Quarter
Cash paid for interest - continuing operations	`CashPaidForInterestContinuingOperations`	$492.00	USD	1 Quarter
Cash paid for interest - discontinued operations	`CashPaidForInterestDiscontinuedOperations`	$51.00	USD	1 Quarter
Cash paid for interest - discontinued operations	`CashPaidForInterestDiscontinuedOperations`	$4.01K	USD	1 Quarter
Intangible asset purchased on account	`FairValueOfAssetsAcquired`	$8.30K	USD	1 Quarter
Intangible asset purchased on account	`FairValueOfAssetsAcquired`	-	USD	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$6.72K	USD	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$6.72K	USD	1 Quarter

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-970.10K	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.15M	USD	Point-in-time
Stock Granted, Value, Share-based Compensation, Net of Forfeitures	`StockGrantedDuringPeriodValueSharebasedCompensation`	$68.94K	USD	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`PreferredStockRedemptionDiscount`	-	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$106.44K	USD	1 Quarter
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-970.10K	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.15M	USD	Point-in-time

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