10-K Filing

FULLNET COMMUNICATIONS INC CIK: 1092570 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001254089-15-000015`
Period End Date	20141231
Filing Date	20150331
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	fulo-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 38 Cash Flow Statement 54 Stockholders Equity 24

Balance Sheet 55 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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$30.07K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$14.61K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$10.85K	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
Accounts receivable, net	`AccountsReceivableNet`	$12.39K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$17.54K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.38K	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, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$36.38K	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
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$44.63K	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
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$109.29K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`OtherAssetsNoncurrent`	$10.95K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`OtherAssetsNoncurrent`	$8.66K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$154.33K	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`	$214.92K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$486.96K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$410.76K	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`	$354.97K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$302.13K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.10M	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`	$199.06K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.12M	USD	Point-in-time
Preferred stock	`PreferredStockValueOutstanding`	$490.90K	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`	$8.77M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.72M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.32M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.96M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.15M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.00M	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$111.92K	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$154.33K	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Access service revenues	`SalesRevenueNet`	$89.69K	USD	Annual
Access service revenues	`SalesRevenueNet`	$112.61K	USD	Annual
Co-location and other revenues	`OtherSalesRevenueNet`	$1.51M	USD	Annual
Co-location and other revenues	`OtherSalesRevenueNet`	$1.66M	USD	Annual
Total revenues	`Revenues`	$1.63M	USD	Annual
Total revenues	`Revenues`	$1.75M	USD	Annual
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$99.00K	USD	Annual
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$109.72K	USD	Annual
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$327.30K	USD	Annual
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$361.87K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.39M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.32M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$29.09K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$40.16K	USD	Annual
Impairment expense	`GoodwillAndIntangibleAssetImpairment`	-	USD	Annual
Impairment expense	`GoodwillAndIntangibleAssetImpairment`	$11.01K	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$1.91M	USD	Annual
Total operating costs and expenses	`OperatingCostsAndExpenses`	$1.78M	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-152.00K	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-158.05K	USD	Annual
GAIN ON SERIES A CONVERTIBLE PREFERRED STOCK ISSUED IN EXCHANGE FOR INDEBTEDNESS	`GainsLossesOnRestructuringOfDebt`	-	USD	Annual
GAIN ON SERIES A CONVERTIBLE PREFERRED STOCK ISSUED IN EXCHANGE FOR INDEBTEDNESS	`GainsLossesOnRestructuringOfDebt`	$401.00K	USD	Annual
INTEREST EXPENSE	`InterestExpense`	$-19.59K	USD	Annual
INTEREST EXPENSE	`InterestExpense`	$-15.74K	USD	Annual
NET INCOME (LOSS)	`NetIncomeLoss`	$223.37K	USD	Annual
NET INCOME (LOSS)	`NetIncomeLoss`	$-167.74K	USD	Annual
Preferred stock dividends	`DividendsPreferredStockCash`	$-67.25K	USD	Annual
Preferred stock dividends	`DividendsPreferredStockCash`	$-60.52K	USD	Annual
Net income (loss) available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$156.12K	USD	Annual
Net income (loss) available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-228.27K	USD	Annual
Net income (loss) per common share -basic	`EarningsPerShareBasic`	$0.02	USD	Annual
Net income (loss) per common share -basic	`EarningsPerShareBasic`	$-0.03	USD	Annual
Net income (loss) per common share - assuming dilution	`EarningsPerShareDiluted`	$0.01	USD	Annual
Net income (loss) per common share - assuming dilution	`EarningsPerShareDiluted`	$-0.03	USD	Annual
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.12M	shares	Annual
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.12M	shares	Annual
Weighted average shares outstanding - assuming dilution	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.12M	shares	Annual
Weighted average shares outstanding - assuming dilution	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.70M	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$223.37K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-167.74K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$29.09K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$40.16K	USD	Annual
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$22.59K	USD	Annual
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$51.48K	USD	Annual
Stock warrants issued for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	-	USD	Annual
Stock warrants issued for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$6.18K	USD	Annual
Impairment expense	`GoodwillAndIntangibleAssetImpairment`	-	USD	Annual
Impairment expense	`GoodwillAndIntangibleAssetImpairment`	$11.01K	USD	Annual
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$-5.67K	USD	Annual
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$13.64K	USD	Annual
(Gain) on Series A convertible preferred stock issued in exchange for indebtedness	`GainsLossesOnRestructuringOfDebt`	-	USD	Annual
(Gain) on Series A convertible preferred stock issued in exchange for indebtedness	`GainsLossesOnRestructuringOfDebt`	$401.00K	USD	Annual
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-15.51K	USD	Annual
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.82K	USD	Annual
Net (increase) decrease in Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-649.00	USD	Annual
Net (increase) decrease in Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-2.33K	USD	Annual
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$51.31K	USD	Annual
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$35.13K	USD	Annual
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$11.87K	USD	Annual
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$67.46K	USD	Annual
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$48.76K	USD	Annual
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$103.29K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$78.05K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$55.22K	USD	Annual
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-62.19K	USD	Annual
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-11.98K	USD	Annual
Cash paid for intangible asset	`PaymentsToAcquireIntangibleAssets`	$-2.00K	USD	Annual
Cash paid for intangible asset	`PaymentsToAcquireIntangibleAssets`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.98K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-64.19K	USD	Annual
Principal payments on borrowings under notes payable	`RepaymentsOfNotesPayable`	$-24.02K	USD	Annual
Principal payments on borrowings under notes payable	`RepaymentsOfNotesPayable`	$-29.32K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-24.02K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-29.32K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-15.46K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$19.23K	USD	Annual
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.07K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.61K	USD	Point-in-time
Cash at beginning 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`	$14.61K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.85K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$19.07K	USD	Annual
Cash paid for interest	`InterestPaid`	$15.74K	USD	Annual
Property and equipment purchased on accounts	`PropertyAndEquipmentPurchasedOnAccounts`	$36.53K	USD	Annual
Series A convertible preferred stock issued for settlement of debt and accrued interest	`SeriesAConvertiblePreferredStockIssuedForSettlementOfDebtAndAccruedInterest`	$59.63K	USD	Annual
Series A convertible preferred stock issued for settlement of accounts payable	`SeriesAConvertiblePreferredStockIssuedForSettlementOfAccountsPayable`	$317.96K	USD	Annual
Series A convertible preferred stock issued for settlement of deferred compensation	`SeriesAConvertiblePreferredStockIssuedForSettlementOfDeferredCompensation`	$656.13K	USD	Annual
Increasing dividend rate preferred stock discount	`IncreasingDividendRatePreferredStockDiscount1`	$-309.34K	USD	Annual
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	$60.52K	USD	Annual
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	$67.25K	USD	Annual
Reclassification of accounts payable to convertible debt - related party	`ReclassificationOfAccountsPayableToConvertibleDebtRelatedParty`	$50.00K	USD	Annual

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Stockholders' deficit	`StockholdersEquity`	$-1.96M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.15M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.00M	USD	Point-in-time
Shares outstanding	`SharesOutstanding`	9.12M	shares	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`	$22.59K	USD	Annual
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$51.48K	USD	Annual
Series A convertible preferred stock issued in settlement of liabilities	`PreferredStockValue`	$672.47K	USD	Point-in-time
Preferred stock issued, shares	`PreferredStockSharesIssued`	987,102.00	shares	Point-in-time
Preferred stock issued, shares	`PreferredStockSharesIssued`	987,102.00	shares	Point-in-time
Increasing dividend rate preferred stock discount	`PreferredStockDiscountOnShares`	-	USD	Point-in-time
Amortization of increasing dividend rate preferred stock discount	`AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock`	-	USD	Annual
Amortization of increasing dividend rate preferred stock discount	`AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock`	-	USD	Annual
Stock warrants issued for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	-	USD	Annual
Stock warrants issued for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$6.18K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$223.37K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-167.74K	USD	Annual
Stockholders' deficit	`StockholdersEquity`	$-1.96M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.15M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.00M	USD	Point-in-time
Shares outstanding	`SharesOutstanding`	9.12M	shares	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.