10-Q Filing

LogicMark, Inc. CIK: 1566826 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001213900-15-003725`
Period End Date	20150331
Filing Date	20150514
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	nxti-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 30 Cash Flow Statement 60

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$48.35K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$13.16K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$303.63K	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$324.24K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.20M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$338.18K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$28.42K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$28.44K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Inventory	`InventoryNet`	$359.54K	USD	Point-in-time
Inventory	`InventoryNet`	$566.13K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$808.75K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$918.20K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.51M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.73M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	24.76M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	25.07M	shares	Point-in-time
Property and equipment, net of accumulated depreciation of $48,354 and $13,157, respectively	`PropertyPlantAndEquipmentNet`	$156.22K	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $48,354 and $13,157, respectively	`PropertyPlantAndEquipmentNet`	$316.63K	USD	Point-in-time
Total Assets	`Assets`	$3.66M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	24.76M	shares	Point-in-time
Total Assets	`Assets`	$2.04M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	25.07M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$535.21K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$375.08K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$254.54K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$344.26K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$138.60K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$131.78K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$851.13K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$928.35K	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; 25,067,338 and 24,762,360 issued and outstanding, respectively	`CommonStockValue`	$2.51K	USD	Point-in-time
Common stock, $0.0001 par value: 100,000,000 shares authorized; 25,067,338 and 24,762,360 issued and outstanding, respectively	`CommonStockValue`	$2.48K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.56M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.88M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.83M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.19M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.74M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.66M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.04M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	$2.27K	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	-	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$1.99K	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	$280.00	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$295.93K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$816.44K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$60.18K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$658.03K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$573.25K	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`	$2.05M	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-2.05M	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-520.39K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$399.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$30.74K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Unrealized gain on change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	$412.76K	USD	1 Quarter
Unrealized gain on change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	-	USD	1 Quarter
Total Other Income, Net	`OtherNonoperatingIncomeExpense`	$399.00	USD	1 Quarter
Total Other Income, Net	`OtherNonoperatingIncomeExpense`	$382.02K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-138.37K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-2.05M	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	24.88M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.97M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-138.37K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-2.05M	USD	1 Quarter
Depreciation	`Depreciation`	$421.00	USD	1 Quarter
Depreciation	`Depreciation`	$35.20K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$263.35K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$34.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$26.75K	USD	1 Quarter
Unrealized gain on change in fair value of derivative liabilities	`AssetsFairValueAdjustment`	-	USD	1 Quarter
Unrealized gain on change in fair value of derivative liabilities	`AssetsFairValueAdjustment`	$-412.76K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$22.93K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$206.59K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-150.86K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-164.33K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-162.18K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-88.38K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$89.72K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-6.82K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	-	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-625.08K	USD	1 Quarter
Total Adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$161.39K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-763.45K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.89M	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-20.00	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Purchase of equipment	`EquipmentExpense`	$-191.40K	USD	1 Quarter
Purchase of equipment	`EquipmentExpense`	$-2.00K	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.00K	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-191.38K	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 and warrants, net	`ProceedsReceivedInConnectionWithIssuanceOfCommonStockAndWarrantsNet`	$799.99K	USD	1 Quarter
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Proceeds from exercise of common stock warrants	`ProceedsFromWarrantExercises`	$200.00K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$200.00K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$799.99K	USD	1 Quarter
Net (Decrease) Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.88M	USD	1 Quarter
Net (Decrease) Increase in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$34.55K	USD	1 Quarter
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$303.63K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$324.24K	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.20M	USD	Point-in-time
Cash - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$338.18K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$303.63K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$324.24K	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.20M	USD	Point-in-time
Cash - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$338.18K	USD	Point-in-time
Interest	`InterestPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	1 Quarter
Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Taxes	`IncomeTaxesPaid`	$1.00K	USD	1 Quarter
Recognition of liability in connection with warrant issuance	`RecognitionOfLiabilityInConnectionWithWarrantIssuance`	-	USD	1 Quarter
Recognition of liability in connection with warrant issuance	`RecognitionOfLiabilityInConnectionWithWarrantIssuance`	$3.45M	USD	1 Quarter
Reclassification of warrant liability to additional paid-in capital in connection with warrant modification	`ReclassificationOfWarrantLiabilityToAdditionalPaidInCapitalInConnectionWithWarrantModification`	$4.59M	USD	1 Quarter
Reclassification of warrant liability to additional paid-in capital in connection with warrant modification	`ReclassificationOfWarrantLiabilityToAdditionalPaidInCapitalInConnectionWithWarrantModification`	-	USD	1 Quarter
Issuance of common stock in connection with conversion of note payable and accrued interest	`IssuanceOfCommonStockInConnectionWithConversionOfNotePayableAndAccruedInterest`	-	USD	1 Quarter
Issuance of common stock in connection with conversion of note payable and accrued interest	`IssuanceOfCommonStockInConnectionWithConversionOfNotePayableAndAccruedInterest`	$171.49K	USD	1 Quarter
Reclassification of conversion feature liability in connection with note conversion	`ReclassificationOfConversionFeatureLiabilityInConnectionWithNoteConversion`	-	USD	1 Quarter
Reclassification of conversion feature liability in connection with note conversion	`ReclassificationOfConversionFeatureLiabilityInConnectionWithNoteConversion`	$98.72K	USD	1 Quarter
Retirement of common stock by officers	`RetirementOfCommonStockByOfficers`	$28.00	USD	1 Quarter
Retirement of common stock by officers	`RetirementOfCommonStockByOfficers`	-	USD	1 Quarter

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