10-Q Filing

FULLNET COMMUNICATIONS INC CIK: 1092570 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001376474-23-000289`
Period End Date	20230331
Filing Date	20230509
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	fulo-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 36 Cash Flow Statement 48 Stockholders Equity 14

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 and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.88M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	618,257.00	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	618,257.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	618,257.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.58K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	618,257.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.06K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$43.51K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$36.74K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.93M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.79M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	19.18M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$87.17K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	19.18M	shares	Point-in-time
PROPERTY AND EQUIPMENT, net	`PropertyPlantAndEquipmentNet`	$82.76K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	19.18M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	19.18M	shares	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`Goodwill`	$18.25K	USD	Point-in-time
OTHER ASSETS AND INTANGIBLE ASSETS	`Goodwill`	$20.94K	USD	Point-in-time
RIGHT OF USE LEASED ASSET	`CapitalLeasedAssetsGross`	$246.73K	USD	Point-in-time
RIGHT OF USE LEASED ASSET	`CapitalLeasedAssetsGross`	$279.09K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.18M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.36K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$19.00K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesCurrent`	$435.44K	USD	Point-in-time
Accrued and other liabilities	`AccruedLiabilitiesCurrent`	$413.65K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$61.83K	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$133.64K	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$136.50K	USD	Point-in-time
Deferred revenue	`OtherLiabilitiesCurrent`	$1.00M	USD	Point-in-time
Deferred revenue	`OtherLiabilitiesCurrent`	$1.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.63M	USD	Point-in-time
OPERATING LEASE LIABILITY - net of current portion	`OperatingLeaseLiabilityNoncurrent`	$110.23K	USD	Point-in-time
OPERATING LEASE LIABILITY - net of current portion	`OperatingLeaseLiabilityNoncurrent`	$145.45K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.79M	USD	Point-in-time
Preferred Stock, Value	`PreferredStockValue`	$409.53K	USD	Point-in-time
Preferred Stock, Value	`PreferredStockValue`	$409.53K	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$192.00	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$192.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.11M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.11M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.12M	USD	Point-in-time
Accumulated deficit	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.03M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.49M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.40M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$3.28M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$3.18M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
REVENUE	`TotalRevenue`	$1.05M	USD	1 Quarter
REVENUE	`TotalRevenue`	$1.12M	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue1`	$227.47K	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue1`	$244.55K	USD	1 Quarter
Gross profit	`GrossProfit`	$888.98K	USD	1 Quarter
Gross profit	`GrossProfit`	$802.32K	USD	1 Quarter
Sales and marketing	`MarketingExpense`	$162.29K	USD	1 Quarter
Sales and marketing	`MarketingExpense`	$179.61K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$447.58K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$457.46K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.41K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.55K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$622.30K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$631.60K	USD	1 Quarter
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$170.72K	USD	1 Quarter
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$266.68K	USD	1 Quarter
OTHER INCOME	`OtherNonoperatingIncome`	$385.00	USD	1 Quarter
OTHER INCOME	`OtherNonoperatingIncome`	$28.86K	USD	1 Quarter
NET INCOME BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$267.06K	USD	1 Quarter
NET INCOME BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$199.58K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$50.92K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$68.00K	USD	1 Quarter
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$148.65K	USD	1 Quarter
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$199.06K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$17.00K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$15.11K	USD	1 Quarter
Net income available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$183.96K	USD	1 Quarter
Net income available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$131.65K	USD	1 Quarter
Basic income per share	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic income per share	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Diluted income per share	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted income per share	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	19.18M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	17.15M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.67M	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.68M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$199.06K	USD	1 Quarter
Net income	`ProfitLoss`	$148.65K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.41K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.55K	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$32.36K	USD	1 Quarter
Noncash lease expense	`NoncashLeaseExpense`	$29.73K	USD	1 Quarter
Provision for deferred tax expense	`DeferredOtherTaxExpenseBenefit`	$38.36K	USD	1 Quarter
Provision for deferred tax expense	`DeferredOtherTaxExpenseBenefit`	-	USD	1 Quarter
Stock options expense	`ShareBasedCompensation`	$3.22K	USD	1 Quarter
Stock options expense	`ShareBasedCompensation`	$2.06K	USD	1 Quarter
Provision for uncollectible accounts receivable	`ProvisionForLoanLeaseAndOtherLosses`	$250.00	USD	1 Quarter
Provision for uncollectible accounts receivable	`ProvisionForLoanLeaseAndOtherLosses`	$-974.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-30.49K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-275.00	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$20.40K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$9.46K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-3.09K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$1.36K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$15.10K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$21.80K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredLiabilities`	$96.90K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredLiabilities`	$86.56K	USD	1 Quarter
Operating lease liability	`OperatingLeaseObligation`	$-29.73K	USD	1 Quarter
Operating lease liability	`OperatingLeaseObligation`	$-32.36K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$255.90K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$361.21K	USD	1 Quarter
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Cash paid for property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.04K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.04K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Payment of dividends payable - preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$51.14K	USD	1 Quarter
Payment of dividends payable - preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$61.83K	USD	1 Quarter
Payment of dividends payable –common stock	`PaymentOfDividendsPayableCommonStock`	$63.34K	USD	1 Quarter
Payment of dividends payable –common stock	`PaymentOfDividendsPayableCommonStock`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-51.14K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-125.17K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$130.73K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$309.03K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.66M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.75M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.96M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.88M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.66M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.75M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.88M	USD	Point-in-time
Amortization of increasing dividend rate preferred stock discount	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	-	USD	1 Quarter
Amortization of increasing dividend rate preferred stock discount	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$899.00	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.49M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.40M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.56M	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.35M	USD	Point-in-time
Dividends	`Dividends`	$63.34K	USD	1 Quarter
Shares Granted, Value, Share-Based Payment Arrangement, after Forfeiture	`StockGrantedDuringPeriodValueSharebasedCompensation`	$2.06K	USD	1 Quarter
Shares Granted, Value, Share-Based Payment Arrangement, after Forfeiture	`StockGrantedDuringPeriodValueSharebasedCompensation`	$3.22K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$199.06K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$148.65K	USD	1 Quarter
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.49M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.40M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.56M	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.35M	USD	Point-in-time
Amortization of increasing dividend rate preferred stock discount	`AmortizationOfIncreasingDividendRatePreferredStockDiscount2`	-	USD	1 Quarter

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