10-Q Filing

FULLNET COMMUNICATIONS INC CIK: 1092570 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001376474-21-000161`
Period End Date	20210331
Filing Date	20210517
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	fulo-20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 32 Cash Flow Statement 47 Stockholders Equity 15

Balance Sheet 64 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 and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$612.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$842.65K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	568,257.00	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	568,257.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.41M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.18K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$30.75K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	568,257.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	568,257.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$28.10K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$19.64K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.46M	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
Common Stock, Shares, Issued	`CommonStockSharesIssued`	16.46M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$66.34K	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$62.97K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	16.66M	shares	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`Goodwill`	$24.71K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`Goodwill`	$26.16K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	16.46M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	16.66M	shares	Point-in-time
RIGHT OF USE LEASED ASSET	`CapitalLeasedAssetsGross`	$487.37K	USD	Point-in-time
RIGHT OF USE LEASED ASSET	`CapitalLeasedAssetsGross`	$514.68K	USD	Point-in-time
DEFERRED TAX ASSET	`DeferredTaxAssetsNet`	$242.53K	USD	Point-in-time
DEFERRED TAX ASSET	`DeferredTaxAssetsNet`	$339.20K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.40M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.62M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$50.20K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$50.13K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesCurrent`	$427.03K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesCurrent`	$389.05K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$168.08K	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$115.23K	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$112.81K	USD	Point-in-time
Deferred revenue	`OtherLiabilitiesCurrent`	$777.03K	USD	Point-in-time
Deferred revenue	`OtherLiabilitiesCurrent`	$875.16K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.47M	USD	Point-in-time
OPERATING LEASE LIABILITY - net of current portion	`OperatingLeaseLiabilityNoncurrent`	$401.87K	USD	Point-in-time
OPERATING LEASE LIABILITY - net of current portion	`OperatingLeaseLiabilityNoncurrent`	$372.14K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.84M	USD	Point-in-time
Preferred Stock, Value	`PreferredStockValue`	$353.50K	USD	Point-in-time
Preferred Stock, Value	`PreferredStockValue`	$354.40K	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$167.00	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$165.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.06M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.07M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.92M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.64M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$502.26K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$780.27K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$2.40M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$2.62M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`TotalRevenue`	$1.03M	USD	1 Quarter
Total revenue	`TotalRevenue`	$714.35K	USD	1 Quarter
Cost of revenue	`CostOfRevenue1`	$108.67K	USD	1 Quarter
Cost of revenue	`CostOfRevenue1`	$148.87K	USD	1 Quarter
Selling, general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$502.36K	USD	1 Quarter
Selling, general and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$554.66K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.47K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.19K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$665.52K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$653.71K	USD	1 Quarter
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$48.82K	USD	1 Quarter
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$372.28K	USD	1 Quarter
OTHER INCOME	`OtherNonoperatingIncome`	$326.00	USD	1 Quarter
OTHER INCOME	`OtherNonoperatingIncome`	$1.78K	USD	1 Quarter
NET INCOME BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$50.61K	USD	1 Quarter
NET INCOME BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$372.60K	USD	1 Quarter
Income tax expense - deferred	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense - deferred	`IncomeTaxExpenseBenefit`	$96.67K	USD	1 Quarter
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$275.93K	USD	1 Quarter
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$50.61K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$13.69K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$20.38K	USD	1 Quarter
Net income available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$262.25K	USD	1 Quarter
Net income available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$30.23K	USD	1 Quarter
Basic income per share	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic income per share	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Diluted income per share	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted income per share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	16.47M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.54M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.34M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.50M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$50.61K	USD	1 Quarter
Net income	`ProfitLoss`	$275.93K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.19K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.47K	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$27.31K	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$25.10K	USD	1 Quarter
Provision for deferred tax expense	`DeferredOtherTaxExpenseBenefit`	-	USD	1 Quarter
Provision for deferred tax expense	`DeferredOtherTaxExpenseBenefit`	$96.67K	USD	1 Quarter
Stock options expense	`ShareBasedCompensation`	$1.47K	USD	1 Quarter
Stock options expense	`ShareBasedCompensation`	$1.23K	USD	1 Quarter
Provision for (recovery of) uncollectible accounts receivable	`ProvisionForLoanLeaseAndOtherLosses`	$-535.00	USD	1 Quarter
Provision for (recovery of) uncollectible accounts receivable	`ProvisionForLoanLeaseAndOtherLosses`	$1.81K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-70.00	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$9.43K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$29.43K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$37.97K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredLiabilities`	$161.56K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredLiabilities`	$98.13K	USD	1 Quarter
Operating lease obligation	`OperatingLeaseObligation`	$-25.10K	USD	1 Quarter
Operating lease obligation	`OperatingLeaseObligation`	$-27.31K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-30.11K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.03K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$7.01K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$13.54K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$535.14K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$235.69K	USD	1 Quarter
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.05K	USD	1 Quarter
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.85K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.85K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.05K	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$609.00	USD	1 Quarter
Payment of dividends payable - preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$168.08K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-167.47K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$230.64K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$361.82K	USD	1 Quarter
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$612.00K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$1.77M	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$842.65K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$1.41M	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$612.00K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$1.77M	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$842.65K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$1.41M	USD	Point-in-time
Amortization of increasing dividend rate preferred stock discount	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$899.00	USD	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$2.87K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-326.49K	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$780.27K	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$502.26K	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-274.65K	USD	Point-in-time
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture	`StockGrantedDuringPeriodValueSharebasedCompensation`	$1.47K	USD	1 Quarter
Shares Granted, Value, Share-based Payment Arrangement, after Forfeiture	`StockGrantedDuringPeriodValueSharebasedCompensation`	$1.23K	USD	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount2`	-	USD	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount2`	-	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$275.93K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$50.61K	USD	1 Quarter
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-326.49K	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$780.27K	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$502.26K	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-274.65K	USD	Point-in-time
Stock Issued During Period, Value, Stock Options Exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$609.00	USD	1 Quarter

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