10-Q/A Filing

LogicMark, Inc. CIK: 1566826 Q1 2014

Filing Information

Form Type	10-Q/A
Accession Number	`0001213900-14-008623`
Period End Date	20140331
Filing Date	20141126
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	nxti-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 28 Cash Flow Statement 57

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.10K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$684.00	USD	Point-in-time
Net of discount of convertible notes payable	`DebtInstrumentCarryingAmount`	-	USD	Point-in-time
Cash	`Cash`	$338.18K	USD	Point-in-time
Net of discount of convertible notes payable	`DebtInstrumentCarryingAmount`	$26.75K	USD	Point-in-time
Cash	`Cash`	$303.63K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$6.53K	USD	Point-in-time
Inventory	`InventoryNet`	$29.47K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.31K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.31K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$313.47K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$370.96K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property and equipment, net of accumulated depreciation of $1,105 and $684, respectively	`PropertyPlantAndEquipmentNet`	$7.73K	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $1,105 and $684, respectively	`PropertyPlantAndEquipmentNet`	$9.31K	USD	Point-in-time
Total Assets	`Assets`	$380.27K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Assets	`Assets`	$321.21K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	21.94M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	22.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$244.09K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$81.91K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.94M	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$135.02K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	22.00M	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$25.16K	USD	Point-in-time
Convertible notes payable, net of discount of $0 and $26,755, respectively	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible notes payable, net of discount of $0 and $26,755, respectively	`ConvertibleNotesPayableCurrent`	$123.25K	USD	Point-in-time
Derivative liability - warrants	`DerivativeLiabilitiesCurrent`	$1.53M	USD	Point-in-time
Derivative liability - warrants	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Conversion feature liability	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability`	-	USD	Point-in-time
Conversion feature liability	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability`	$118.94K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$107.07K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.15M	USD	Point-in-time
Commitment and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitment and Contingencies	`CommitmentsAndContingencies`	-	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; 22,001,345 and 21,937,822 issued and outstanding, respectively	`CommonStockValue`	$2.20K	USD	Point-in-time
Common stock, $0.0001 par value: 100,000,000 shares authorized; 22,001,345 and 21,937,822 issued and outstanding, respectively	`CommonStockValue`	$2.19K	USD	Point-in-time
Additional paid-in capital (deficit)	`AdditionalPaidInCapitalCommonStock`	$-80.18K	USD	Point-in-time
Additional paid-in capital (deficit)	`AdditionalPaidInCapitalCommonStock`	$2.16M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.75M	USD	Point-in-time
Total Stockholders' Equity (Deficiency)	`StockholdersEquity`	$273.20K	USD	Point-in-time
Total Stockholders' Equity (Deficiency)	`StockholdersEquity`	$-1.83M	USD	Point-in-time
Total Liabilities and Stockholders' Equity (Deficiency)	`LiabilitiesAndStockholdersEquity`	$380.27K	USD	Point-in-time
Total Liabilities and Stockholders' Equity (Deficiency)	`LiabilitiesAndStockholdersEquity`	$321.21K	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	-	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$258.47K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$295.93K	USD	1 Quarter
Selling and marketing	`SellingExpense`	$5.00K	USD	1 Quarter
Selling and marketing	`SellingExpense`	$60.18K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$177.78K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$164.28K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$520.39K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$441.25K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-441.25K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-520.39K	USD	1 Quarter
Interest expenses	`InterestExpense`	$30.74K	USD	1 Quarter
Interest expenses	`InterestExpense`	$3.75K	USD	1 Quarter
Unrealized gain on change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	-	USD	1 Quarter
Unrealized gain on change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	$412.76K	USD	1 Quarter
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$-3.75K	USD	1 Quarter
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$382.02K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-138.37K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-445.00K	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.97M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.97M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-138.37K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-445.00K	USD	1 Quarter
Depreciation	`Depreciation`	$99.00	USD	1 Quarter
Depreciation	`Depreciation`	$421.00	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$45.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$34.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$26.75K	USD	1 Quarter
Unrealized loss on change in fair value of derivative liabilities	`AssetsFairValueAdjustment`	$-412.76K	USD	1 Quarter
Unrealized loss on change in fair value of derivative liabilities	`AssetsFairValueAdjustment`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$22.93K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$116.91K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-162.18K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-88.38K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-625.08K	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$162.00K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-763.45K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-283.00K	USD	1 Quarter
Purchase of equipment	`EquipmentExpense`	$-2.00K	USD	1 Quarter
Purchase of equipment	`EquipmentExpense`	-	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.00K	USD	1 Quarter
Proceeds received in connection with issuance of common stock and warrants, net	`ProceedsReceivedInConnectionWithIssuanceOfCommonStockAndWarrantsNet`	$799.99K	USD	1 Quarter
Proceeds received in connection with issuance of common stock and warrants, net	`ProceedsReceivedInConnectionWithIssuanceOfCommonStockAndWarrantsNet`	-	USD	1 Quarter
Proceeds received in connection with issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds received in connection with issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$51.00K	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$75.00K	USD	1 Quarter
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Proceeds from advances made by officer	`ProceedsFromRelatedPartyDebt`	$25.00K	USD	1 Quarter
Proceeds from advances made by officer	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$799.99K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$151.00K	USD	1 Quarter
Net Increase (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-132.00K	USD	1 Quarter
Net Increase (Decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$34.55K	USD	1 Quarter
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$135.82K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$338.18K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$3.82K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$303.63K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$135.82K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$338.18K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$3.82K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$303.63K	USD	Point-in-time
Interest	`InterestPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	1 Quarter
Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Recognition of liability in connection with warrant issuance	`RecognitionOfLiabilityInConnectionWithWarrantIssuance`	$3.45M	USD	1 Quarter
Recognition of liability in connection with warrant issuance	`RecognitionOfLiabilityInConnectionWithWarrantIssuance`	-	USD	1 Quarter
Reclassification of warrant liability to additional paid-in capital in connection with warrant modification	`ReclassificationOfWarrantLiabilityToAdditionalPaidInCapitalInConnectionWithWarrantModification`	-	USD	1 Quarter
Reclassification of warrant liability to additional paid-in capital in connection with warrant modification	`ReclassificationOfWarrantLiabilityToAdditionalPaidInCapitalInConnectionWithWarrantModification`	$4.59M	USD	1 Quarter
Issuance of common stock in connection with conversion of note payable and accrued interest	`IssuanceOfCommonStockInConnectionWithConversionOfNotePayableAndAccruedInterest`	$171.49K	USD	1 Quarter
Issuance of common stock in connection with conversion of note payable and accrued interest	`IssuanceOfCommonStockInConnectionWithConversionOfNotePayableAndAccruedInterest`	-	USD	1 Quarter
Reclassification of conversion feature liability in connection with note conversion	`ReclassificationOfConversionFeatureLiabilityInConnectionWithNoteConversion`	$98.72K	USD	1 Quarter
Reclassification of conversion feature liability in connection with note conversion	`ReclassificationOfConversionFeatureLiabilityInConnectionWithNoteConversion`	-	USD	1 Quarter
Retirement of common stock by officers	`RetirementOfCommonStockByOfficers`	-	USD	1 Quarter
Retirement of common stock by officers	`RetirementOfCommonStockByOfficers`	$28.00	USD	1 Quarter

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