10-Q Filing

FULLNET COMMUNICATIONS INC CIK: 1092570 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001254089-14-000021`
Period End Date	20140331
Filing Date	20140515
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	fulo-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 30 Cash Flow Statement 42 Stockholders Equity 12

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$15.07K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$22.88K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$30.07K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$10.85K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$17.54K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$13.14K	USD	Point-in-time
Preferred stock Series A convertible, shares outstanding	`PreferredStockSharesOutstanding`	987,102.00	shares	Point-in-time
Preferred stock Series A convertible, shares outstanding	`PreferredStockSharesOutstanding`	987,102.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.03K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.73K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$56.34K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$48.05K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$44.63K	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$121.99K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.12M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.12M	shares	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`OtherAssetsNoncurrent`	$10.95K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`OtherAssetsNoncurrent`	$9.47K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$111.92K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$179.51K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$159.39K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$127.08K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$410.76K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$442.94K	USD	Point-in-time
Convertible notes payable, related party - current portion	`ConvertibleNotesPayableCurrent`	$45.76K	USD	Point-in-time
Convertible notes payable, related party - current portion	`ConvertibleNotesPayableCurrent`	$45.06K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$352.65K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$302.13K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$885.03K	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - less current portion	`ConvertibleLongTermNotesPayable`	$222.87K	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - less current portion	`ConvertibleLongTermNotesPayable`	$230.13K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.12M	USD	Point-in-time
Preferred stock	`PreferredStockValueOutstanding`	$430.38K	USD	Point-in-time
Preferred stock	`PreferredStockValueOutstanding`	$445.51K	USD	Point-in-time
Common stock	`CommonStockValueOutstanding`	$91.00	USD	Point-in-time
Common stock	`CommonStockValueOutstanding`	$91.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.71M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.15M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.04M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.00M	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$179.51K	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$111.92K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Access service revenues	`SalesRevenueNet`	$34.41K	USD	1 Quarter
Access service revenues	`SalesRevenueNet`	$23.79K	USD	1 Quarter
Co-location and other revenues	`OtherSalesRevenueNet`	$399.99K	USD	1 Quarter
Co-location and other revenues	`OtherSalesRevenueNet`	$358.54K	USD	1 Quarter
Total revenues	`Revenues`	$392.94K	USD	1 Quarter
Total revenues	`Revenues`	$423.78K	USD	1 Quarter
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$27.21K	USD	1 Quarter
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$28.68K	USD	1 Quarter
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$85.42K	USD	1 Quarter
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$90.90K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$345.69K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$325.59K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$8.08K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.92K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$453.26K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$466.24K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-60.31K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-42.46K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpense`	$-5.39K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpense`	$-4.09K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-46.56K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-65.70K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividends`	-	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividends`	$-15.13K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-61.69K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-65.70K	USD	1 Quarter
Net loss per common share -basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net loss per common share -basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.12M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.12M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-46.56K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-65.70K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$8.08K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.92K	USD	1 Quarter
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$936.00	USD	1 Quarter
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$5.69K	USD	1 Quarter
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$-8.18K	USD	1 Quarter
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$5.12K	USD	1 Quarter
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-8.81K	USD	1 Quarter
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.58K	USD	1 Quarter
Net (increase) decrease in Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-2.38K	USD	1 Quarter
Net (increase) decrease in Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-3.30K	USD	1 Quarter
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-12.40K	USD	1 Quarter
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.59K	USD	1 Quarter
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$32.18K	USD	1 Quarter
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$61.89K	USD	1 Quarter
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$8.15K	USD	1 Quarter
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$50.52K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.86K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$38.45K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-2.45K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-39.09K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-39.09K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.45K	USD	1 Quarter
Principal payments on borrowings under notes payable	`RepaymentsOfNotesPayable`	$-6.56K	USD	1 Quarter
Principal payments on borrowings under notes payable	`RepaymentsOfNotesPayable`	$-6.20K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.56K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.20K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.19K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.22K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.07K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.88K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.07K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.85K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.07K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.88K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.07K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.85K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$5.44K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$4.09K	USD	1 Quarter
Fixed assets purchased on accounts	`FixedAssetsPurchasedOnAccounts`	44,710.00	pure	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	15,131.00	pure	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Stockholders' deficit	`StockholdersEquity`	$-1.04M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.00M	USD	Point-in-time
Shares outstanding	`SharesOutstanding`	10.11M	shares	Point-in-time
Shares outstanding	`SharesOutstanding`	10.11M	shares	Point-in-time
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$936.00	USD	1 Quarter
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$5.69K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-46.56K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-65.70K	USD	1 Quarter
Stockholders' deficit	`StockholdersEquity`	$-1.04M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.00M	USD	Point-in-time
Shares outstanding	`SharesOutstanding`	10.11M	shares	Point-in-time
Shares outstanding	`SharesOutstanding`	10.11M	shares	Point-in-time

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