10-K Filing

FULLNET COMMUNICATIONS INC CIK: 1092570 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001376474-22-000177`
Period End Date	20211231
Filing Date	20220331
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	fulo-20211231_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 36 Cash Flow Statement 61 Stockholders Equity 23

Balance Sheet 61 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
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	568,257.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.41M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	568,257.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$612.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.66M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$30.75K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$30.11K	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
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$24.94K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.71M	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, Issued	`CommonStockSharesIssued`	16.46M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$58.60K	USD	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$62.97K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	17.15M	shares	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`Goodwill`	$20.64K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	17.15M	shares	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
RIGHT OF USE LEASED ASSET	`RightOfUseLeasedAsset`	$401.87K	USD	Point-in-time
RIGHT OF USE LEASED ASSET	`RightOfUseLeasedAsset`	$514.68K	USD	Point-in-time
DEFERRED TAX ASSET	`DeferredTaxAssetsNet`	$339.20K	USD	Point-in-time
DEFERRED TAX ASSET	`DeferredTaxAssetsNet`	$38.36K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.23M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$50.20K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$53.15K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesCurrent`	$514.16K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesCurrent`	$557.13K	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$112.81K	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$122.78K	USD	Point-in-time
Deferred revenue	`OtherLiabilitiesCurrent`	$905.50K	USD	Point-in-time
Deferred revenue	`OtherLiabilitiesCurrent`	$777.03K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.50M	USD	Point-in-time
OPERATING LEASE LIABILITY - less current portion	`OperatingLeaseLiabilityNoncurrent`	$279.09K	USD	Point-in-time
OPERATING LEASE LIABILITY - less current portion	`OperatingLeaseLiabilityNoncurrent`	$401.87K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.87M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.90M	USD	Point-in-time
Preferred Stock, Value, Issued	`PreferredStockValue`	$357.10K	USD	Point-in-time
Preferred Stock, Value, Issued	`PreferredStockValue`	$353.50K	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$171.00	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`	$-8.07M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.35M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$502.26K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$2.40M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$3.23M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$3.50M	USD	Annual
Revenue	`Revenues`	$4.14M	USD	Annual
COST OF REVENUE	`CostOfRevenue1`	$741.13K	USD	Annual
COST OF REVENUE	`CostOfRevenue1`	$502.50K	USD	Annual
Gross profit	`GrossProfit`	$3.00M	USD	Annual
Gross profit	`GrossProfit`	$3.39M	USD	Annual
Sales and marketing	`SellingExpense`	$488.06K	USD	Annual
Sales and marketing	`SellingExpense`	$678.18K	USD	Annual
General and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$1.58M	USD	Annual
General and administrative expenses	`OtherGeneralAndAdministrativeExpense`	$1.72M	USD	Annual
Depreciation and amortization expenses	`DepreciationAndAmortization`	$10.21K	USD	Annual
Depreciation and amortization expenses	`DepreciationAndAmortization`	$8.97K	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$2.27M	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$2.22M	USD	Annual
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$1.17M	USD	Annual
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$730.13K	USD	Annual
Other income	`OtherNonoperatingIncome`	$3.15K	USD	Annual
Other income	`OtherNonoperatingIncome`	$20.84K	USD	Annual
NET INCOME BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$733.29K	USD	Annual
NET INCOME BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.19M	USD	Annual
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-339.20K	USD	Annual
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$300.84K	USD	Annual
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$892.98K	USD	Annual
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$1.07M	USD	Annual
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$54.74K	USD	Annual
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$59.77K	USD	Annual
Net income available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.01M	USD	Annual
Net income available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$838.24K	USD	Annual
basic	`ContinuingOperationsBasic`	$0.05	USD	Annual
basic	`ContinuingOperationsBasic`	$0.07	USD	Annual
diluted	`ContinuingOperationsDiluted`	$0.05	USD	Annual
diluted	`ContinuingOperationsDiluted`	$0.06	USD	Annual
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	16.70M	shares	Annual
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	14.91M	shares	Annual
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	17.53M	shares	Annual
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.22M	shares	Annual

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$892.98K	USD	Annual
Net income	`ProfitLoss`	$1.07M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.97K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.21K	USD	Annual
Noncash lease expense	`NoncashLeaseExpense`	$103.65K	USD	Annual
Noncash lease expense	`NoncashLeaseExpense`	$112.81K	USD	Annual
Deferred tax (benefit) expense	`DeferredOtherTaxExpenseBenefit`	$300.84K	USD	Annual
Deferred tax (benefit) expense	`DeferredOtherTaxExpenseBenefit`	$-339.20K	USD	Annual
Stock options and warrants expense	`StockOptionsAndWarrantsExpense`	$26.55K	USD	Annual
Stock options and warrants expense	`StockOptionsAndWarrantsExpense`	$8.79K	USD	Annual
Provision for uncollectible accounts receivable	`ProvisionForLoanLeaseAndOtherLosses`	$1.28K	USD	Annual
Provision for uncollectible accounts receivable	`ProvisionForLoanLeaseAndOtherLosses`	$1.02K	USD	Annual
Common stock issued for prior preferred stock repurchase charged to expense	`CommonStockIssuedForPriorPreferredStockRepurchaseChargedToExpense`	$3.28K	USD	Annual
Common stock issued for prior preferred stock repurchase charged to expense	`CommonStockIssuedForPriorPreferredStockRepurchaseChargedToExpense`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$380.00	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$31.09K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$7.56K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-214.00	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-581.00	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$2.94K	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$73.97K	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-14.21K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredLiabilities`	$268.17K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredLiabilities`	$128.47K	USD	Annual
Operating lease liability	`OperatingLeaseLiability1`	$-103.65K	USD	Annual
Operating lease liability	`OperatingLeaseLiability1`	$-112.81K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$988.10K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.42M	USD	Annual
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.19K	USD	Annual
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.85K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.85K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.19K	USD	Annual
Proceeds from exercise of options	`ProceedsFromExerciseOfOptions`	$-2.07K	USD	Annual
Proceeds from exercise of options	`ProceedsFromExerciseOfOptions`	-	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromExerciseOfWarrants`	-	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromExerciseOfWarrants`	$-400.00	USD	Annual
Repurchase of preferred stock for cash	`RepurchaseOfPreferredStockForCash`	$178.40K	USD	Annual
Repurchase of preferred stock for cash	`RepurchaseOfPreferredStockForCash`	-	USD	Annual
Payment of Dividends Payable - Preferred Stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$168.08K	USD	Annual
Payment of Dividends Payable - Preferred Stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$51.14K	USD	Point-in-time
Payment of Dividends Payable - Preferred Stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-166.01K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-178.00K	USD	Annual
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$795.91K	USD	Annual
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.25M	USD	Annual
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$1.41M	USD	Point-in-time
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`	$2.66M	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending 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`	$2.66M	USD	Point-in-time
Amortization of increasing dividend rate preferred stock discount	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$7.19K	USD	Annual
Amortization of increasing dividend rate preferred stock discount	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$3.60K	USD	Annual
Preferred stock issued to settle related party liability	`PreferredStockIssuedToSettleRelatedPartyLiability`	$53.83K	USD	Annual
Preferred stock issued to settle related party liability	`PreferredStockIssuedToSettleRelatedPartyLiability`	-	USD	Annual
Common stock issued in connection with repurchase of preferred stock	`CommonStockIssuedInConnectionWithRepurchaseOfPreferredStock`	$19.62K	USD	Annual
Common stock issued in connection with repurchase of preferred stock	`CommonStockIssuedInConnectionWithRepurchaseOfPreferredStock`	-	USD	Annual
Exercise of options by reducing deferred compensation payable	`ExerciseOfOptionsByReducingDeferredCompensationPayable`	$18.69K	USD	Annual
Exercise of options by reducing deferred compensation payable	`ExerciseOfOptionsByReducingDeferredCompensationPayable`	-	USD	Annual
Preferred stock dividend declared	`PreferredStockDividendDeclared`	$51.14K	USD	Annual
Preferred stock dividend declared	`PreferredStockDividendDeclared`	$168.08K	USD	Annual

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-326.49K	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.35M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$502.26K	USD	Point-in-time
Stock options expense, Value	`StockOptionsExpenseValue`	$24.59K	USD	Annual
Stock options expense, Value	`StockOptionsExpenseValue`	$8.79K	USD	Annual
Warrants expense, Value	`WarrantsExpenseValue1`	$1.96K	USD	Annual
Stock options exercised by reducing deferred compensation payable, Value	`StockOptionsExercisedByReducingDeferredCompensationPayableValue`	$18.69K	USD	Annual
Common stock issued for repurchase of preferred stock, Value	`CommonStockIssuedForRepurchaseOfPreferredStockValue`	$22.90K	USD	Annual
Preferred stock repurchased, Value	`PreferredStockRepurchasedValue2`	$-198.02K	USD	Annual
Repurchased preferred stock assigned to settle related party liability, Value	`RepurchasedPreferredStockAssignedToSettleRelatedPartyLiabilityValue`	$53.83K	USD	Annual
Warrants exercised, Value	`WarrantsExercisedValue1`	$400.00	USD	Annual
Amortization of increasing dividend rate preferred stock discount, Value	`AmortizationOfIncreasingDividendRatePreferredStockDiscountValue1`	-	USD	Annual
Preferred stock dividends declared, Value	`PreferredStockDividendsDeclaredValue`	$-168.08K	USD	Annual
Preferred stock dividends declared, Value	`PreferredStockDividendsDeclaredValue`	$-51.14K	USD	Annual
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.07K	USD	Annual
Stock options exercised	`StockIssuedDuringPeriodSharesStockOptionsExercised`	689,000.00	shares	Annual
Stock options exercised	`StockIssuedDuringPeriodSharesStockOptionsExercised`	1.36M	shares	Annual
Amortization of increasing dividend rate preferred stock discount, Value	`AmortizationOfIncreasingDividendRatePreferredStockDiscountValue`	-	USD	Annual
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$1.07M	USD	Annual
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$892.98K	USD	Annual
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-326.49K	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.35M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$502.26K	USD	Point-in-time

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