10-Q Filing

FULLNET COMMUNICATIONS INC CIK: 1092570 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001254089-16-000053`
Period End Date	20160630
Filing Date	20160815
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	fulo-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 60 Cash Flow Statement 47 Stockholders Equity 13

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`	$14.61K	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`	$16.01K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$21.27K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$15.27K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$7.87K	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	`AccountsReceivableNetCurrent`	$6.31K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.50K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.13K	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
Total current assets	`AssetsCurrent`	$39.27K	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.12M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$89.09K	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$96.39K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`OtherAssetsNoncurrent`	$7.06K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`OtherAssetsNoncurrent`	$6.27K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$128.28K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$134.63K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$201.54K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$190.13K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$543.32K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$580.56K	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`	$376.91K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$355.55K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.19M	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`	$152.53K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.32M	USD	Point-in-time
Preferred stock	`PreferredStockValueOutstanding`	$568.24K	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`	$-10.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.37M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.19M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.21M	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$128.28K	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$134.63K	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Access service revenues	`SalesRevenueNet`	$31.80K	USD	2 Qtrs
Access service revenues	`SalesRevenueNet`	$39.37K	USD	2 Qtrs
Access service revenues	`SalesRevenueNet`	$14.92K	USD	1 Quarter
Access service revenues	`SalesRevenueNet`	$19.08K	USD	1 Quarter
Co-location and other revenues	`OtherSalesRevenueNet`	$932.38K	USD	2 Qtrs
Co-location and other revenues	`OtherSalesRevenueNet`	$449.28K	USD	1 Quarter
Co-location and other revenues	`OtherSalesRevenueNet`	$878.15K	USD	2 Qtrs
Co-location and other revenues	`OtherSalesRevenueNet`	$457.98K	USD	1 Quarter
Total revenues	`Revenues`	$917.52K	USD	2 Qtrs
Total revenues	`Revenues`	$472.90K	USD	1 Quarter
Total revenues	`Revenues`	$468.36K	USD	1 Quarter
Total revenues	`Revenues`	$964.18K	USD	2 Qtrs
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$19.14K	USD	1 Quarter
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$39.58K	USD	2 Qtrs
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$21.40K	USD	1 Quarter
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$42.89K	USD	2 Qtrs
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$149.00K	USD	2 Qtrs
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$161.30K	USD	2 Qtrs
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$77.91K	USD	1 Quarter
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$76.22K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$397.26K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$367.32K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$759.45K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$774.93K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$6.95K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$14.04K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$19.19K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$10.99K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$471.32K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$505.86K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$989.85K	USD	2 Qtrs
Total operating costs and expenses	`OperatingCostsAndExpenses`	$970.53K	USD	2 Qtrs
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-37.50K	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$1.58K	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-53.01K	USD	2 Qtrs
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-25.67K	USD	2 Qtrs
INTEREST EXPENSE	`InterestExpense`	$7.92K	USD	2 Qtrs
INTEREST EXPENSE	`InterestExpense`	$4.01K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpense`	$8.15K	USD	2 Qtrs
INTEREST EXPENSE	`InterestExpense`	$3.88K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-33.59K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.30K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-41.51K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-61.16K	USD	2 Qtrs
Preferred stock dividends	`DividendsPreferredStock`	$-13.45K	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$-26.90K	USD	2 Qtrs
Preferred stock dividends	`DividendsPreferredStock`	$-11.77K	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$-23.54K	USD	2 Qtrs
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-14.07K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-88.06K	USD	2 Qtrs
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-54.96K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-57.12K	USD	2 Qtrs
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
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	2 Qtrs
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	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.12M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.12M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-33.59K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.30K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-41.51K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-61.16K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$6.95K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$14.04K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$19.19K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$10.99K	USD	1 Quarter
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$11.85K	USD	2 Qtrs
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$8.23K	USD	2 Qtrs
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$3.17K	USD	2 Qtrs
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$507.00	USD	2 Qtrs
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.07K	USD	2 Qtrs
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.44K	USD	2 Qtrs
Net (increase) decrease in Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-7.63K	USD	2 Qtrs
Net (increase) decrease in Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-6.04K	USD	2 Qtrs
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$17.33K	USD	2 Qtrs
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-11.40K	USD	2 Qtrs
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$52.09K	USD	2 Qtrs
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$37.25K	USD	2 Qtrs
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$21.36K	USD	2 Qtrs
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-1.74K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$26.70K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$29.23K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-5.95K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-13.32K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.32K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.95K	USD	2 Qtrs
Principal payments on borrowings under notes payable - related party	`RepaymentsOfNotesPayable`	$-15.49K	USD	2 Qtrs
Principal payments on borrowings under notes payable - related party	`RepaymentsOfNotesPayable`	$-15.25K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.49K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.25K	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$651.00	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.26K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.61K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.01K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.27K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.27K	USD	Point-in-time
Cash at end 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`	$21.27K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.27K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$7.92K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$8.15K	USD	2 Qtrs
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	$11.77K	USD	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	$26.90K	USD	2 Qtrs
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	$23.54K	USD	2 Qtrs

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Stockholders' deficit	`StockholdersEquity`	$-1.19M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.21M	USD	Point-in-time
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$11.85K	USD	2 Qtrs
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$8.23K	USD	2 Qtrs
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	$11.77K	USD	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	$26.90K	USD	2 Qtrs
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	$23.54K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-33.59K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.30K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-41.51K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-61.16K	USD	2 Qtrs
Stockholders' deficit	`StockholdersEquity`	$-1.19M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.21M	USD	Point-in-time

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