10-Q Filing

FULLNET COMMUNICATIONS INC CIK: 1092570 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001254089-16-000044`
Period End Date	20160331
Filing Date	20160516
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	fulo-20160331.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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$16.01K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$12.42K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$677.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$14.61K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$6.89K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$6.31K	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`	$2.50K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.01K	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`	$24.82K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$33.32K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.12M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$96.39K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.12M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$90.41K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`OtherAssetsNoncurrent`	$7.06K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`OtherAssetsNoncurrent`	$6.67K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$130.40K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$128.28K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$181.19K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$201.54K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$574.09K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$543.32K	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`	$46.81K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$355.55K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$385.21K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.15M	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - less current portion	`ConvertibleLongTermNotesPayable`	$168.03K	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - less current portion	`ConvertibleLongTermNotesPayable`	$160.35K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.32M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.35M	USD	Point-in-time
Preferred stock	`PreferredStockValueOutstanding`	$556.47K	USD	Point-in-time
Preferred stock	`PreferredStockValueOutstanding`	$544.70K	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`	$8.63M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.37M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.22M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.19M	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$130.40K	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$128.28K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Access service revenues	`SalesRevenueNet`	$20.28K	USD	1 Quarter
Access service revenues	`SalesRevenueNet`	$16.88K	USD	1 Quarter
Co-location and other revenues	`OtherSalesRevenueNet`	$474.40K	USD	1 Quarter
Co-location and other revenues	`OtherSalesRevenueNet`	$428.87K	USD	1 Quarter
Total revenues	`Revenues`	$491.28K	USD	1 Quarter
Total revenues	`Revenues`	$449.16K	USD	1 Quarter
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$20.44K	USD	1 Quarter
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$21.49K	USD	1 Quarter
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$83.39K	USD	1 Quarter
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$72.78K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$407.61K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$362.19K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.09K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$8.20K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$464.67K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$518.53K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-15.51K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-27.25K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpense`	$4.14K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpense`	$4.03K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-19.65K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-31.29K	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$-11.77K	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$-13.45K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-43.05K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-33.10K	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.12M	shares	1 Quarter
Weighted average common 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`	$-19.65K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-31.29K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.09K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$8.20K	USD	1 Quarter
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$6.13K	USD	1 Quarter
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$988.00	USD	1 Quarter
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$1.32K	USD	1 Quarter
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$430.00	USD	1 Quarter
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.01K	USD	1 Quarter
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.00K	USD	1 Quarter
Net (increase) decrease in Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-11.50K	USD	1 Quarter
Net (increase) decrease in Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-10.80K	USD	1 Quarter
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-20.34K	USD	1 Quarter
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.71K	USD	1 Quarter
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$7.86K	USD	1 Quarter
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$30.78K	USD	1 Quarter
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$6.46K	USD	1 Quarter
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$29.66K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.80K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.20K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-5.17K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-719.00	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.17K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-719.00	USD	1 Quarter
Principal payments on borrowings under notes payable - related party	`RepaymentsOfNotesPayable`	$-7.56K	USD	1 Quarter
Principal payments on borrowings under notes payable - related party	`RepaymentsOfNotesPayable`	$-7.67K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.56K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.67K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.59K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.94K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.01K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.42K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$677.00	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.61K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.01K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.42K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$677.00	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.61K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$4.14K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$4.03K	USD	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	$11.77K	USD	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	$13.45K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Stockholders' deficit	`StockholdersEquity`	$-1.22M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.19M	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`	$6.13K	USD	1 Quarter
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$988.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-19.65K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-31.29K	USD	1 Quarter
Stockholders' deficit	`StockholdersEquity`	$-1.22M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.19M	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.