10-Q Filing

INUVO, INC. CIK: 829323 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001354488-12-002526`
Period End Date	20120331
Filing Date	20120515
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	inuv-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 50 Cash Flow Statement 64

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$4.41K	USD	Point-in-time
Cash	`Cash`	$3.49M	USD	Point-in-time
Allowance for Doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$448.81K	USD	Point-in-time
Allowance for Doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$477.29K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$475.59K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$475.76K	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $448,805 and $477,289, respectively	`AccountsReceivableNetCurrent`	$5.30M	USD	Point-in-time
Preferred Stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $448,805 and $477,289, respectively	`AccountsReceivableNetCurrent`	$5.43M	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Unbilled revenue	`UnbilledContractsReceivable`	$101.14K	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Unbilled revenue	`UnbilledContractsReceivable`	$49.20K	USD	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Intangible assets - current, net of accumulated amortization	`IntangibleAssetsCurrentNetOfAccumulatedAmortization`	$947.88K	USD	Point-in-time
Intangible assets - current, net of accumulated amortization	`IntangibleAssetsCurrentNetOfAccumulatedAmortization`	$1.24M	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$433.60K	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$809.80K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.41M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.34M	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.34M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.59M	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Goodwill	`Goodwill`	$6.06M	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	23.85M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	10.42M	shares	Point-in-time
Goodwill	`Goodwill`	$1.78M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$390.00K	USD	Point-in-time
Common stock shares Outstanding	`CommonStockSharesOutstanding`	10.04M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$11.82M	USD	Point-in-time
Common stock shares Outstanding	`CommonStockSharesOutstanding`	23.48M	shares	Point-in-time
Treasury Stock	`TreasuryStockShares`	365,557.00	shares	Point-in-time
Treasury Stock	`TreasuryStockShares`	386,827.00	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.24K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$162.73K	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$2.17M	USD	Point-in-time
Total other assets	`AssetsNoncurrent`	$18.05M	USD	Point-in-time
Total assets	`Assets`	$11.10M	USD	Point-in-time
Total assets	`Assets`	$32.80M	USD	Point-in-time
Term and credit note payable - current portion	`LongTermDebtCurrent`	$1.11M	USD	Point-in-time
Term and credit note payable - current portion	`LongTermDebtCurrent`	$452.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.09M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$18.08K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$17.25K	USD	Point-in-time
Deferred Compensation	`DeferredCompensationLiabilityCurrent`	-	USD	Point-in-time
Deferred Compensation	`DeferredCompensationLiabilityCurrent`	$929.43K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$3.13M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$1.59M	USD	Point-in-time
Current liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$160.00K	USD	Point-in-time
Current liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$100.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.35M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.45M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	-	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	$4.54M	USD	Point-in-time
Term and credit notes payable - long term	`LongTermDebtNoncurrent`	$3.89M	USD	Point-in-time
Term and credit notes payable - long term	`LongTermDebtNoncurrent`	$2.45M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$300.12K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$927.96K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.75M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$9.36M	USD	Point-in-time
Preferred stock, $.001 par value: Authorized shares - 500,000 - none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $.001 par value: Authorized shares - 500,000 - none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.001 par value: Authorized shares 40,000,000, issued shares 23,847,679 and 10,422,617, respectively Outstanding shares - 23,482,122 and 10,035,790, respectively	`CommonStockValue`	$23.85K	USD	Point-in-time
Common stock, $.001 par value: Authorized shares 40,000,000, issued shares 23,847,679 and 10,422,617, respectively Outstanding shares - 23,482,122 and 10,035,790, respectively	`CommonStockValue`	$10.42K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$115.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$126.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-116.52M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-114.65M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomea`	$5.16K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomea`	-	USD	Point-in-time
Treasury stock, at cost - 365,557 and 386,827 shares, respectively	`TreasuryStockValue`	$1.47M	USD	Point-in-time
Treasury stock, at cost - 365,557 and 386,827 shares, respectively	`TreasuryStockValue`	$1.39M	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$-1.01M	USD	Point-in-time
Total stockholders' (deficit) equity	`StockholdersEquity`	$8.99M	USD	Point-in-time
Total liabilities and stockholders' (deficit) equity	`LiabilitiesAndStockholdersEquity`	$32.80M	USD	Point-in-time
Total liabilities and stockholders' (deficit) equity	`LiabilitiesAndStockholdersEquity`	$11.10M	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueNet`	$8.77M	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$11.79M	USD	1 Quarter
Affiliate expenses	`AffiliateExpenses`	$5.74M	USD	1 Quarter
Affiliate expenses	`AffiliateExpenses`	$4.51M	USD	1 Quarter
Data Acquitision	`DataAcquisition`	$621.76K	USD	1 Quarter
Data Acquitision	`DataAcquisition`	$779.98K	USD	1 Quarter
Merchant processing fees and product costs	`MerchantProcessingFeesAndProductCosts`	$62.08K	USD	1 Quarter
Merchant processing fees and product costs	`MerchantProcessingFeesAndProductCosts`	$7.94K	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$5.35M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$6.37M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.42M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.42M	USD	1 Quarter
Search costs	`SearchCosts`	$2.49M	USD	1 Quarter
Search costs	`SearchCosts`	$1.84M	USD	1 Quarter
Compensation and telemarketing	`SalariesAndWages`	$1.30M	USD	1 Quarter
Compensation and telemarketing	`SalariesAndWages`	$2.67M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.44M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.99M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.13M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.60M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.18M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.71M	USD	1 Quarter
Litigation settlements	`LitigationSettlementExpense`	$374.80K	USD	1 Quarter
Litigation settlements	`LitigationSettlementExpense`	-	USD	1 Quarter
Interest expense, net	`InterestExpense`	$166.70K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$96.67K	USD	1 Quarter
Other expenses, net	`NonoperatingIncomeExpense`	$-471.47K	USD	1 Quarter
Other expenses, net	`NonoperatingIncomeExpense`	$-166.70K	USD	1 Quarter
Loss from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.87M	USD	1 Quarter
Loss from continuing operations before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.65M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.87M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.65M	USD	1 Quarter
Income (loss) from discontinued operations net of tax expense	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$257.14K	USD	1 Quarter
Income (loss) from discontinued operations net of tax expense	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-1.71K	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.87M	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.39M	USD	1 Quarter
Foreign currency revaluation	`ForeignCurrencyRevaluation`	-	USD	1 Quarter
Foreign currency revaluation	`ForeignCurrencyRevaluation`	$5.16K	USD	1 Quarter
Total comprehensive loss	`TotalComprehensiveLoss`	$-1.87M	USD	1 Quarter
Total comprehensive loss	`TotalComprehensiveLoss`	$-1.39M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.19	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.13	USD	1 Quarter
Net income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.03	USD	1 Quarter
Net income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Net loss	`EarningsPerShareBasic`	$-0.13	USD	1 Quarter
Net loss	`EarningsPerShareBasic`	$-0.16	USD	1 Quarter
Weighted average shares (basic and diluted)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.56M	shares	1 Quarter
Weighted average shares (basic and diluted)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.43M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.87M	USD	1 Quarter
Net loss	`ProfitLoss`	$-1.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.14M	USD	1 Quarter
Gain on litigation settlement - discontinued operations	`GainOnLitigationSettlementDiscontinuedOperations`	-	USD	1 Quarter
Gain on litigation settlement - discontinued operations	`GainOnLitigationSettlementDiscontinuedOperations`	$-256.42K	USD	1 Quarter
Litigation settlements in common stock	`LitigationSettlementsInStock`	-	USD	1 Quarter
Litigation settlements in common stock	`LitigationSettlementsInStock`	$249.80K	USD	1 Quarter
Deferred compensation	`DeferredCompensationArrangementWithIndividualFairValueOfSharesIssued`	-	USD	1 Quarter
Deferred compensation	`DeferredCompensationArrangementWithIndividualFairValueOfSharesIssued`	$372.10K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$195.42K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$175.44K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$-340.48K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$-176.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.22M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-336.04K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$97.74K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$215.62K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$319.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$141.16K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-833.00	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-15.14K	USD	1 Quarter
Other accrued expenses and current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$321.59K	USD	1 Quarter
Other accrued expenses and current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.31M	USD	1 Quarter
Net cash (used in) provided by operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$874.96K	USD	1 Quarter
Net cash (used in) provided by operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$338.47K	USD	1 Quarter
Net cash used in operating activities from discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net cash used in operating activities from discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-60.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$338.47K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$814.96K	USD	1 Quarter
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$131.81K	USD	1 Quarter
Purchases of equipment and capitalized development costs	`PaymentsToAcquireProductiveAssets`	$47.79K	USD	1 Quarter
Net cash received from merger with Vertro, Inc., net of merger costs	`NetCashReceivedFromMergerWithVertroInc.NetOfMergerCosts`	-	USD	1 Quarter
Net cash received from merger with Vertro, Inc., net of merger costs	`NetCashReceivedFromMergerWithVertroInc.NetOfMergerCosts`	$2.44M	USD	1 Quarter
Purchase of names database and bundled downloads	`PaymentsToAcquireIntangibleAssets`	$707.40K	USD	1 Quarter
Purchase of names database and bundled downloads	`PaymentsToAcquireIntangibleAssets`	$917.23K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-965.02K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.60M	USD	1 Quarter
Advances from term note payable	`ProceedsFromNotesPayable`	$5.00M	USD	1 Quarter
Advances from term note payable	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Deposit to collateralize letter of credit	`DepositToCollateralizeLetterOfCredit`	$-475.00K	USD	1 Quarter
Deposit to collateralize letter of credit	`DepositToCollateralizeLetterOfCredit`	$-475.00K	USD	1 Quarter
Advances from credit note payable	`AdvancesFromCreditNotePayable`	$6.30M	USD	1 Quarter
Advances from credit note payable	`AdvancesFromCreditNotePayable`	-	USD	1 Quarter
Payments on credit note payable and capital leases	`PaymentsOnCreditNotePayableAndCapitalLeases`	$-3.51M	USD	1 Quarter
Payments on credit note payable and capital leases	`PaymentsOnCreditNotePayableAndCapitalLeases`	$-3.46M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.32M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.07M	USD	1 Quarter
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncome`	-	USD	1 Quarter
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncome`	$5.16K	USD	1 Quarter
Net change - cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.69M	USD	1 Quarter
Net change - cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.49M	USD	1 Quarter
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.81M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$3.49M	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$118.56K	USD	Point-in-time
Cash, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$4.41K	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.81M	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$3.49M	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$118.56K	USD	Point-in-time
Cash, end of year	`CashAndCashEquivalentsAtCarryingValue`	$4.41K	USD	Point-in-time
Interest paid	`InterestPaid`	$185.21K	USD	1 Quarter
Interest paid	`InterestPaid`	$66.39K	USD	1 Quarter
Issuance of stock as settlement of deferred compensation	`IssuanceOfStockAsSettlementOfDeferredCompensation`	-	USD	1 Quarter
Issuance of stock as settlement of deferred compensation	`IssuanceOfStockAsSettlementOfDeferredCompensation`	$915.75K	USD	1 Quarter

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