10-Q Filing

FULLNET COMMUNICATIONS INC CIK: 1092570 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001376474-17-000316`
Period End Date	20170930
Filing Date	20171114
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	fulo-20170930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 60 Cash Flow Statement 42 Stockholders Equity 7

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	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`	$23.96K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$16.31K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$20.39K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	987,102.00	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	987,102.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$16.01K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	987,102.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$7.67K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	987,102.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$6.61K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$19.97K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$3.06K	USD	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 Authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$51.60K	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentGross`	$77.15K	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentGross`	$64.28K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	11.87M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	11.87M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	11.87M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	11.87M	shares	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`Goodwill`	$24.02K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`Goodwill`	$30.86K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$139.90K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$138.08K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$135.35K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$86.34K	USD	Point-in-time
Accounts payable, related party	`DueToRelatedPartiesCurrent`	$3.46K	USD	Point-in-time
Accounts payable, related party	`DueToRelatedPartiesCurrent`	$13.94K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesCurrent`	$632.38K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesCurrent`	$567.64K	USD	Point-in-time
Convertible notes payable, related party - current portion	`UnsecuredDebtCurrent`	$46.81K	USD	Point-in-time
Convertible notes payable, related party - current portion	`UnsecuredDebtCurrent`	$131.12K	USD	Point-in-time
Deferred revenue	`OtherLiabilitiesCurrent`	$405.73K	USD	Point-in-time
Deferred revenue	`OtherLiabilitiesCurrent`	$369.25K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.26M	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - long-term portion	`DueToRelatedPartiesNoncurrent`	$27.33K	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - long-term portion	`DueToRelatedPartiesNoncurrent`	$136.44K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.29M	USD	Point-in-time
Preferred Stock, Value	`PreferredStockValue`	$611.95K	USD	Point-in-time
Preferred Stock, Value	`PreferredStockValue`	$591.78K	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$119.00	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$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	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.38M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.40M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.13M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.15M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$138.08K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$139.90K	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Access service revenues	`SalesRevenueServicesGross`	$14.35K	USD	1 Quarter
Access service revenues	`SalesRevenueServicesGross`	$32.89K	USD	3 Qtrs
Access service revenues	`SalesRevenueServicesGross`	$9.76K	USD	1 Quarter
Access service revenues	`SalesRevenueServicesGross`	$46.15K	USD	3 Qtrs
Co-location and other revenues	`OtherSalesRevenueNet`	$492.22K	USD	1 Quarter
Co-location and other revenues	`OtherSalesRevenueNet`	$1.40M	USD	3 Qtrs
Co-location and other revenues	`OtherSalesRevenueNet`	$464.25K	USD	1 Quarter
Co-location and other revenues	`OtherSalesRevenueNet`	$1.47M	USD	3 Qtrs
Total revenues	`SalesRevenueNet`	$501.98K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$1.44M	USD	3 Qtrs
Total revenues	`SalesRevenueNet`	$1.50M	USD	3 Qtrs
Total revenues	`SalesRevenueNet`	$478.60K	USD	1 Quarter
Cost of access service revenues	`CostOfServicesDirectMaterials`	$19.35K	USD	1 Quarter
Cost of access service revenues	`CostOfServicesDirectMaterials`	$11.81K	USD	1 Quarter
Cost of access service revenues	`CostOfServicesDirectMaterials`	$35.71K	USD	3 Qtrs
Cost of access service revenues	`CostOfServicesDirectMaterials`	$58.94K	USD	3 Qtrs
Cost of co-location and other revenues	`OtherCostOfServices`	$249.31K	USD	3 Qtrs
Cost of co-location and other revenues	`OtherCostOfServices`	$83.82K	USD	1 Quarter
Cost of co-location and other revenues	`OtherCostOfServices`	$240.17K	USD	3 Qtrs
Cost of co-location and other revenues	`OtherCostOfServices`	$78.87K	USD	1 Quarter
Selling, general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$1.15M	USD	3 Qtrs
Selling, general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$1.21M	USD	3 Qtrs
Selling, general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$374.21K	USD	1 Quarter
Selling, general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$412.04K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$20.74K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$21.19K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$6.69K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.70K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$514.37K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$479.13K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$1.52M	USD	3 Qtrs
Total operating costs and expenses	`OperatingExpenses`	$1.47M	USD	3 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-12.39K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-26.21K	USD	3 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-15.85K	USD	3 Qtrs
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-537.00	USD	1 Quarter
INTEREST EXPENSE	`InvestmentIncomeInterest`	$-11.65K	USD	3 Qtrs
INTEREST EXPENSE	`InvestmentIncomeInterest`	$-3.23K	USD	1 Quarter
INTEREST EXPENSE	`InvestmentIncomeInterest`	$-3.73K	USD	1 Quarter
INTEREST EXPENSE	`InvestmentIncomeInterest`	$-10.26K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-26.11K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-37.86K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-15.62K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-4.27K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$35.30K	USD	3 Qtrs
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$20.17K	USD	3 Qtrs
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$11.77K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$6.72K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-73.16K	USD	3 Qtrs
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-46.29K	USD	3 Qtrs
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-16.04K	USD	1 Quarter
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-22.35K	USD	1 Quarter
Net loss per common share Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Net loss per common share Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	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	3 Qtrs
Weighted average common shares outstanding Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.87M	shares	1 Quarter
Weighted average common shares outstanding Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.12M	shares	3 Qtrs
Weighted average common shares outstanding Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.87M	shares	3 Qtrs
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	`ProfitLoss`	$-26.11K	USD	3 Qtrs
Net loss	`ProfitLoss`	$-37.86K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$20.74K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$21.19K	USD	3 Qtrs
Stock options compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	$8.68K	USD	3 Qtrs
Stock options compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	$11.01K	USD	3 Qtrs
Provision for uncollectible accounts receivable	`ProvisionForLoanLeaseAndOtherLosses`	$262.00	USD	3 Qtrs
Provision for uncollectible accounts receivable	`ProvisionForLoanLeaseAndOtherLosses`	$2.83K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.32K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.06K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$16.91K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$12.46K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-59.49K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-10.65K	USD	3 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$41.75K	USD	3 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$64.74K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredLiabilities`	$22.39K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredLiabilities`	$36.48K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$30.36K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$29.85K	USD	3 Qtrs
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.47K	USD	3 Qtrs
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.60K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.47K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.60K	USD	3 Qtrs
Principal payments on borrowings under notes payable - related party	`ProceedsFromRelatedPartyDebt`	$-23.46K	USD	3 Qtrs
Principal payments on borrowings under notes payable - related party	`ProceedsFromRelatedPartyDebt`	$-24.81K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-24.81K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-23.46K	USD	3 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.57K	USD	3 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$302.00	USD	3 Qtrs
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$23.96K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$16.31K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$20.39K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$16.01K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$23.96K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$16.31K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$20.39K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$16.01K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$10.30K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$11.65K	USD	3 Qtrs
Amortization of increasing dividend rate preferred stock discount	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$20.17K	USD	3 Qtrs
Amortization of increasing dividend rate preferred stock discount	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$35.30K	USD	3 Qtrs

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.13M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.15M	USD	Point-in-time
Stock Granted, Value, Share-based Compensation, Net of Forfeitures	`StockGrantedDuringPeriodValueSharebasedCompensation`	$11.01K	USD	3 Qtrs
Amortization of increasing dividend rate preferred stock discount	`PreferredStockRedemptionDiscount`	-	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-26.11K	USD	3 Qtrs
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.13M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.15M	USD	Point-in-time

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