10-K Filing

FULLNET COMMUNICATIONS INC CIK: 1092570 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001376474-18-000068`
Period End Date	20171231
Filing Date	20180402
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	fulo-20171231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 42 Cash Flow Statement 62 Stockholders Equity 14

Balance Sheet 63 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`	$29.40K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$15.87K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$19.38K	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$8.85K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	987,102.00	shares	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
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$1.54K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$6.11K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.54K	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`	$44.36K	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$39.45K	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
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$46.71K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`Goodwill`	$21.81K	USD	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`	$30.86K	USD	Point-in-time
ASSETS OF DISCONTINUED OPERATIONS, net (NOTE I)	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$32.97K	USD	Point-in-time
ASSETS OF DISCONTINUED OPERATIONS, net (NOTE I)	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$29.34K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$138.08K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$134.97K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$37.37K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$79.82K	USD	Point-in-time
Accounts payable, related party	`DueToRelatedPartiesCurrent`	$13.94K	USD	Point-in-time
Accounts payable, related party	`DueToRelatedPartiesCurrent`	$7.98K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesCurrent`	$548.96K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesCurrent`	$610.11K	USD	Point-in-time
Convertible notes payable, related party - current portion	`UnsecuredDebtCurrent`	$5.35K	USD	Point-in-time
Convertible notes payable, related party - current portion	`UnsecuredDebtCurrent`	$5.04K	USD	Point-in-time
Deferred revenue	`OtherLiabilitiesCurrent`	$369.25K	USD	Point-in-time
Deferred revenue	`OtherLiabilitiesCurrent`	$397.93K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.06M	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - less current portion	`DueToRelatedPartiesNoncurrent`	$33.24K	USD	Point-in-time
CONVERTIBLE NOTES PAYABLE, related party - less current portion	`DueToRelatedPartiesNoncurrent`	$27.89K	USD	Point-in-time
LIABILITIES OF DISCONTINUED OPERATIONS (NOTE I)	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation`	$193.81K	USD	Point-in-time
LIABILITIES OF DISCONTINUED OPERATIONS (NOTE I)	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation`	$219.19K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.28M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.27M	USD	Point-in-time
Preferred Stock, Value	`PreferredStockValue`	$618.67K	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`	$8.64M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.66M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.41M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.38M	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`	$134.97K	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Access service revenues	`SalesRevenueServicesGross`	$45.98K	USD	Annual
Access service revenues	`SalesRevenueServicesGross`	$60.13K	USD	Annual
Colocation and other revenues	`OtherSalesRevenueNet`	$1.84M	USD	Annual
Colocation and other revenues	`OtherSalesRevenueNet`	$1.72M	USD	Annual
Total revenues	`SalesRevenueNet`	$1.89M	USD	Annual
Total revenues	`SalesRevenueNet`	$1.78M	USD	Annual
Cost of access service revenues	`CostOfServicesDirectMaterials`	$10.43K	USD	Annual
Cost of access service revenues	`CostOfServicesDirectMaterials`	$38.28K	USD	Annual
Cost of colocation and other revenues	`OtherCostOfServices`	$159.23K	USD	Annual
Cost of colocation and other revenues	`OtherCostOfServices`	$123.33K	USD	Annual
Selling, general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$1.54M	USD	Annual
Selling, general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$1.62M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$17.78K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$18.38K	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$1.81M	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$1.72M	USD	Annual
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$61.09K	USD	Annual
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$78.93K	USD	Annual
INTEREST EXPENSE	`InvestmentIncomeInterest`	$-2.45K	USD	Annual
INTEREST EXPENSE	`InvestmentIncomeInterest`	$-2.16K	USD	Annual
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	`IncomeLossFromContinuingOperations`	$58.64K	USD	Annual
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	`IncomeLossFromContinuingOperations`	$76.77K	USD	Annual
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-103.56K	USD	Annual
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-64.60K	USD	Annual
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$-26.79K	USD	Annual
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$-5.96K	USD	Annual
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$26.90K	USD	Annual
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$47.07K	USD	Annual
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-53.03K	USD	Annual
Net loss available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-53.69K	USD	Annual
Continuing operations - basic	`ContinuingOperationsBasic`	$0.01	USD	Annual
Continuing operations - basic	`ContinuingOperationsBasic`	$0.01	USD	Annual
Continuing operations - diluted	`ContinuingOperationsDiluted`	$0.01	USD	Annual
Continuing operations - diluted	`ContinuingOperationsDiluted`	$0.01	USD	Annual
Discontinued operations - basic and diluted	`DiscontinuedOperationsBasicAndDiluted`	$-0.01	USD	Annual
Discontinued operations - basic and diluted	`DiscontinuedOperationsBasicAndDiluted`	$-0.01	USD	Annual
Earnings Per Share, Basic and Diluted	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Earnings Per Share, Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.30M	shares	Annual
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	11.87M	shares	Annual
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.87M	shares	Annual
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.93M	shares	Annual

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-5.96K	USD	Annual
Net loss	`ProfitLoss`	$-26.79K	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-103.56K	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-64.60K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$18.38K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.78K	USD	Annual
Stock options compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	$53.31K	USD	Annual
Stock options compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	$12.66K	USD	Annual
Provision for uncollectible accounts receivable	`ProvisionForLoanLeaseAndOtherLosses`	$480.00	USD	Annual
Provision for uncollectible accounts receivable	`ProvisionForLoanLeaseAndOtherLosses`	$700.00	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.72K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.01K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$647.00	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.57K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-36.50K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-42.45K	USD	Annual
Accounts payable, related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$4.54K	USD	Annual
Accounts payable, related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-5.95K	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$61.15K	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$39.24K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredLiabilities`	$13.70K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredLiabilities`	$28.68K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$141.84K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$150.36K	USD	Annual
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.47K	USD	Annual
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.60K	USD	Annual
Cash paid for intangible assets	`PaymentsToAcquireIntangibleAssets`	$10.50K	USD	Annual
Cash paid for intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.47K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.10K	USD	Annual
Principal payments on borrowings under notes payable - related party	`ProceedsFromRelatedPartyDebt`	$-4.75K	USD	Annual
Principal payments on borrowings under notes payable - related party	`ProceedsFromRelatedPartyDebt`	$-5.04K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.75K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.04K	USD	Annual
Net cash used in operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-92.15K	USD	Annual
Net cash used in operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-98.17K	USD	Annual
Net cash used in investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	Annual
Net cash used in investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-4.78K	USD	Annual
Net cash used in financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$-26.83K	USD	Annual
Net cash used in financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$-28.37K	USD	Annual
Net cash used in discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$-125.31K	USD	Annual
Net cash used in discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$-125.01K	USD	Annual
NET INCREASE IN CASH - CONTINUING OPERATIONS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.51K	USD	Annual
NET INCREASE IN CASH - CONTINUING OPERATIONS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.02K	USD	Annual
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$29.40K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$15.87K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$19.38K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$29.40K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$15.87K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$19.38K	USD	Point-in-time
Income Taxes Paid, Net	`IncomeTaxesPaidNet`	-	USD	Annual
Income Taxes Paid, Net	`IncomeTaxesPaidNet`	-	USD	Annual
Interest Paid	`InterestPaid`	$2.16K	USD	Annual
Interest Paid	`InterestPaid`	$2.45K	USD	Annual
Interest Paid, Discontinued Operations	`InterestPaidDiscontinuedOperations`	$11.19K	USD	Annual
Interest Paid, Discontinued Operations	`InterestPaidDiscontinuedOperations`	$12.77K	USD	Annual
Intangible asset purchased on account	`IntangibleAssetPurchasedOnAccount`	-	USD	Annual
Intangible asset purchased on account	`IntangibleAssetPurchasedOnAccount`	$16.00K	USD	Annual
Amortization of increasing dividend rate preferred stock discount	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$26.90K	USD	Annual
Amortization of increasing dividend rate preferred stock discount	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$47.07K	USD	Annual
Exercise of options by reducing deferred compensation payable	`ExerciseOfOptionsByReducingDeferredCompensationPayable`	-	USD	Annual
Exercise of options by reducing deferred compensation payable	`ExerciseOfOptionsByReducingDeferredCompensationPayable`	$8.26K	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.15M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.13M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.19M	USD	Point-in-time
Stock Granted, Value, Share-based Compensation, Net of Forfeitures	`StockGrantedDuringPeriodValueSharebasedCompensation`	$12.66K	USD	Annual
Stock Granted, Value, Share-based Compensation, Net of Forfeitures	`StockGrantedDuringPeriodValueSharebasedCompensation`	$53.31K	USD	Annual
Stock Issued During Period, Value, Stock Options Exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$8.26K	USD	Annual
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	`StockIssuedDuringPeriodSharesStockOptionsExercised`	-2.75M	shares	Annual
Amortization of increasing dividend rate preferred stock discount	`PreferredStockRedemptionDiscount`	-	USD	Annual
Amortization of increasing dividend rate preferred stock discount	`PreferredStockRedemptionDiscount`	-	USD	Annual
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-5.96K	USD	Annual
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-26.79K	USD	Annual
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.15M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.13M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.19M	USD	Point-in-time

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