10-Q Filing

FULLNET COMMUNICATIONS INC CIK: 1092570 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001254089-14-000023`
Period End Date	20140630
Filing Date	20140814
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	fulo-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 72 Cash Flow Statement 53 Stockholders Equity 18

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`	$4.40K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$10.85K	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`	$30.07K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$14.12K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$14.18K	USD	Point-in-time
Preferred stock Series A convertible, shares outstanding	`PreferredStockSharesOutstanding`	987,102.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$17.54K	USD	Point-in-time
Preferred stock Series A convertible, shares outstanding	`PreferredStockSharesOutstanding`	987,102.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.73K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.20K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$56.34K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.78K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.12M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$123.56K	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$44.63K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.12M	shares	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`OtherAssetsNoncurrent`	$7.99K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`OtherAssetsNoncurrent`	$10.95K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$164.33K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$111.92K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$127.08K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$177.14K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$410.76K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$449.53K	USD	Point-in-time
Convertible notes payable, related party - current portion	`ConvertibleNotesPayableCurrent`	$46.81K	USD	Point-in-time
Convertible notes payable, related party - current portion	`ConvertibleNotesPayableCurrent`	$45.06K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$339.46K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$302.13K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$885.03K	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - less current portion	`ConvertibleLongTermNotesPayable`	$230.13K	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - less current portion	`ConvertibleLongTermNotesPayable`	$214.81K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.12M	USD	Point-in-time
Preferred stock	`PreferredStockValueOutstanding`	$460.64K	USD	Point-in-time
Preferred stock	`PreferredStockValueOutstanding`	$430.38K	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`	$8.70M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.72M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.15M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.00M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.06M	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$164.33K	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$111.92K	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Access service revenues	`SalesRevenueNet`	$31.89K	USD	1 Quarter
Access service revenues	`SalesRevenueNet`	$19.28K	USD	1 Quarter
Access service revenues	`SalesRevenueNet`	$66.30K	USD	2 Qtrs
Access service revenues	`SalesRevenueNet`	$43.07K	USD	2 Qtrs
Co-location and other revenues	`OtherSalesRevenueNet`	$737.01K	USD	2 Qtrs
Co-location and other revenues	`OtherSalesRevenueNet`	$378.47K	USD	1 Quarter
Co-location and other revenues	`OtherSalesRevenueNet`	$838.44K	USD	2 Qtrs
Co-location and other revenues	`OtherSalesRevenueNet`	$438.45K	USD	1 Quarter
Total revenues	`Revenues`	$457.73K	USD	1 Quarter
Total revenues	`Revenues`	$410.36K	USD	1 Quarter
Total revenues	`Revenues`	$881.51K	USD	2 Qtrs
Total revenues	`Revenues`	$803.31K	USD	2 Qtrs
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$56.01K	USD	2 Qtrs
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$22.50K	USD	1 Quarter
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$49.72K	USD	2 Qtrs
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$27.33K	USD	1 Quarter
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$88.98K	USD	1 Quarter
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$176.88K	USD	2 Qtrs
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$85.98K	USD	1 Quarter
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$174.40K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$356.30K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$344.50K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$670.09K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$701.99K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$15.40K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$10.91K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$18.83K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$7.32K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$478.70K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$465.12K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$944.94K	USD	2 Qtrs
Total operating costs and expenses	`OperatingCostsAndExpenses`	$918.38K	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-63.43K	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-115.08K	USD	2 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-54.76K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-20.96K	USD	1 Quarter
GAIN ON SERIES A CONVERTIBLE PREFERRED STOCK ISSUED IN EXCHANGE FOR INDEBTEDNESS	`GainsLossesOnRestructuringOfDebt`	$401.00K	USD	2 Qtrs
GAIN ON SERIES A CONVERTIBLE PREFERRED STOCK ISSUED IN EXCHANGE FOR INDEBTEDNESS	`GainsLossesOnRestructuringOfDebt`	$401.00K	USD	1 Quarter
GAIN ON SERIES A CONVERTIBLE PREFERRED STOCK ISSUED IN EXCHANGE FOR INDEBTEDNESS	`GainsLossesOnRestructuringOfDebt`	-	USD	2 Qtrs
GAIN ON SERIES A CONVERTIBLE PREFERRED STOCK ISSUED IN EXCHANGE FOR INDEBTEDNESS	`GainsLossesOnRestructuringOfDebt`	-	USD	1 Quarter
INTEREST EXPENSE	`InterestExpense`	$8.09K	USD	2 Qtrs
INTEREST EXPENSE	`InterestExpense`	$5.72K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpense`	$11.11K	USD	2 Qtrs
INTEREST EXPENSE	`InterestExpense`	$4.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-71.52K	USD	2 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$-24.96K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$340.52K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$274.82K	USD	2 Qtrs
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$-15.13K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$-8.61K	USD	2 Qtrs
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$-30.26K	USD	2 Qtrs
Preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$-8.61K	USD	1 Quarter
Net income (loss) available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-101.78K	USD	2 Qtrs
Net income (loss) available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$266.22K	USD	2 Qtrs
Net income (loss) available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$331.92K	USD	1 Quarter
Net income (loss) available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-40.09K	USD	1 Quarter
Net income (loss) per share - basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net income (loss) per share - basic	`EarningsPerShareBasic`	$0.03	USD	2 Qtrs
Net income (loss) per share - basic	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Net income (loss) per share - basic	`EarningsPerShareBasic`	$-0.01	USD	2 Qtrs
Net income (loss) per share - assuming dilution	`EarningsPerShareDiluted`	$0.03	USD	2 Qtrs
Net income (loss) per share - assuming dilution	`EarningsPerShareDiluted`	$-0.01	USD	2 Qtrs
Net income (loss) per share - assuming dilution	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Net income (loss) per share - assuming dilution	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.12M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.12M	shares	2 Qtrs
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.12M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.12M	shares	2 Qtrs
Weighted average shares outstanding - assuming dilution	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.12M	shares	2 Qtrs
Weighted average shares outstanding - assuming dilution	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.29M	shares	1 Quarter
Weighted average shares outstanding - assuming dilution	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.01M	shares	2 Qtrs
Weighted average shares outstanding - assuming dilution	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.12M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-71.52K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-24.96K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$340.52K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$274.82K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$15.40K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$10.91K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$18.83K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$7.32K	USD	1 Quarter
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$22.12K	USD	2 Qtrs
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$11.32K	USD	2 Qtrs
Stock warrants issued for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	-	USD	2 Qtrs
Stock warrants issued for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$6.18K	USD	2 Qtrs
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$10.28K	USD	2 Qtrs
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$-9.94K	USD	2 Qtrs
(Gain) on Series A convertible preferred stock issued in exchange for indebtedness	`GainsLossesOnExtinguishmentOfDebt`	$-401.00K	USD	2 Qtrs
(Gain) on Series A convertible preferred stock issued in exchange for indebtedness	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$13.30K	USD	2 Qtrs
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-28.26K	USD	2 Qtrs
Net (increase) decrease in Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-5.48K	USD	2 Qtrs
Net (increase) decrease in Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-7.67K	USD	2 Qtrs
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$45.50K	USD	2 Qtrs
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$11.53K	USD	2 Qtrs
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$38.77K	USD	2 Qtrs
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$63.53K	USD	2 Qtrs
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$19.20K	USD	2 Qtrs
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$37.33K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$20.11K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$44.15K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-56.27K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-5.63K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-56.27K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.63K	USD	2 Qtrs
Principal payments on borrowings under notes payable - related party	`RepaymentsOfNotesPayable`	$-11.19K	USD	2 Qtrs
Principal payments on borrowings under notes payable - related party	`RepaymentsOfNotesPayable`	$-13.56K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.56K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.19K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-25.68K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.28K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.40K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.85K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.07K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.12K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.40K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.85K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.07K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.12K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$8.09K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$9.85K	USD	2 Qtrs
Fixed assets purchased on accounts	`FixedAssetsPurchasedOnAccounts`	38,532.00	pure	2 Qtrs
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	15,131.00	pure	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	8,605.00	pure	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	8,605.00	pure	2 Qtrs
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	30,262.00	pure	2 Qtrs

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Stockholders' deficit	`StockholdersEquity`	$-1.00M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.06M	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`	$22.12K	USD	2 Qtrs
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$11.32K	USD	2 Qtrs
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	15,131.00	pure	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	8,605.00	pure	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	8,605.00	pure	2 Qtrs
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	30,262.00	pure	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-71.52K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-24.96K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$340.52K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$274.82K	USD	2 Qtrs
Stockholders' deficit	`StockholdersEquity`	$-1.00M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.06M	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.