10-Q Filing

FULLNET COMMUNICATIONS INC CIK: 1092570 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001254089-17-000021`
Period End Date	20170331
Filing Date	20170515
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	fulo-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 30 Cash Flow Statement 44 Stockholders Equity 8

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`	$20.39K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$31.48K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$12.42K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$16.01K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$6.00K	USD	Point-in-time
Preferred stock Series A convertible, shares outstanding	`PreferredStockSharesOutstanding`	987,102.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$6.61K	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`	$21.38K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.06K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$58.85K	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`	$30.06K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.87M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$72.95K	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$77.15K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	11.87M	shares	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`OtherAssetsNoncurrent`	$30.86K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`OtherAssetsNoncurrent`	$28.52K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$138.08K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$160.33K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$135.35K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$109.76K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$13.94K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$593.82K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$567.64K	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`	$369.25K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$408.85K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.13M	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - less current portion	`ConvertibleLongTermNotesPayable`	$125.60K	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - less current portion	`ConvertibleLongTermNotesPayable`	$136.44K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.28M	USD	Point-in-time
Preferred stock	`PreferredStockValueOutstanding`	$598.50K	USD	Point-in-time
Preferred stock	`PreferredStockValueOutstanding`	$591.78K	USD	Point-in-time
Common stock	`CommonStockValueOutstanding`	$119.00	USD	Point-in-time
Common stock	`CommonStockValueOutstanding`	$119.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.38M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.13M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.12M	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$160.33K	USD	Point-in-time
TOTAL LIABILITES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$138.08K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Access service revenues	`SalesRevenueNet`	$16.88K	USD	1 Quarter
Access service revenues	`SalesRevenueNet`	$11.86K	USD	1 Quarter
Co-location and other revenues	`OtherSalesRevenueNet`	$474.40K	USD	1 Quarter
Co-location and other revenues	`OtherSalesRevenueNet`	$496.00K	USD	1 Quarter
Total revenues	`Revenues`	$491.28K	USD	1 Quarter
Total revenues	`Revenues`	$507.86K	USD	1 Quarter
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$12.88K	USD	1 Quarter
Cost of access service revenues	`CostOfGoodsAndServicesSold`	$20.44K	USD	1 Quarter
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$83.39K	USD	1 Quarter
Cost of co-location and other revenues	`OtherCostOfOperatingRevenue`	$79.94K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$407.61K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$397.79K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.31K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.09K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$497.91K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$518.53K	USD	1 Quarter
INCOME ( LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-27.25K	USD	1 Quarter
INCOME ( LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$9.95K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpense`	$4.76K	USD	1 Quarter
INTEREST EXPENSE	`InterestExpense`	$4.03K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$5.19K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-31.29K	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$-6.72K	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$-11.77K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-43.05K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.53K	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`	11.87M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
NET INCOME (LOSS)	`NetIncomeLoss`	$5.19K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-31.29K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.31K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.09K	USD	1 Quarter
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$1.65K	USD	1 Quarter
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$988.00	USD	1 Quarter
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$238.00	USD	1 Quarter
Provision for uncollectible accounts receivable	`ProvisionForDoubtfulAccounts`	$430.00	USD	1 Quarter
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$378.00	USD	1 Quarter
Net (increase) decrease in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.01K	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`	$-18.91K	USD	1 Quarter
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-20.34K	USD	1 Quarter
Net increase (decrease) in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-31.23K	USD	1 Quarter
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$26.18K	USD	1 Quarter
Net increase (decrease) in Accrued and other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$30.78K	USD	1 Quarter
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$39.60K	USD	1 Quarter
Net increase (decrease) in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$29.66K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$30.40K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.80K	USD	1 Quarter
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-719.00	USD	1 Quarter
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-766.00	USD	1 Quarter
Cash paid for intangible asset	`PaymentsToAcquireIntangibleAssets`	$-7.70K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-719.00	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.47K	USD	1 Quarter
Principal payments on borrowings under notes payable - related party	`RepaymentsOfNotesPayable`	$-7.67K	USD	1 Quarter
Principal payments on borrowings under notes payable - related party	`RepaymentsOfNotesPayable`	$-10.84K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.67K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.84K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.59K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.09K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.39K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$31.48K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.42K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.01K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.39K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$31.48K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.42K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.01K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$4.03K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$4.76K	USD	1 Quarter
Intangible asset purchased on account	`NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1`	$8.30K	USD	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	$6.72K	USD	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount`	$11.77K	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Stockholders' deficit	`StockholdersEquity`	$-1.13M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.12M	USD	Point-in-time
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$1.65K	USD	1 Quarter
Stock options compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$988.00	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$5.19K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-31.29K	USD	1 Quarter
Stockholders' deficit	`StockholdersEquity`	$-1.13M	USD	Point-in-time
Stockholders' deficit	`StockholdersEquity`	$-1.12M	USD	Point-in-time

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