10-Q Filing

BRIGHT MOUNTAIN MEDIA, INC. CIK: 1568385 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001553350-14-000909`
Period End Date	20140630
Filing Date	20140812
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	bmaq-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 64 Cash Flow Statement 62 Stockholders Equity 23

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Preferred shares, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred shares, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred shares, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred shares, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$336.68K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	2.60M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$531.21K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$578.19K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	2.60M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$572.00	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1.50M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$4.35K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1.50M	shares	Point-in-time
Common shares, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common shares, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid Costs and Expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$36.52K	USD	Point-in-time
Prepaid Costs and Expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$42.20K	USD	Point-in-time
Inventories	`InventoryNet`	$522.19K	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	324.00M	shares	Point-in-time
Inventories	`InventoryNet`	$303.32K	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	324.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.14M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	33.30M	shares	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	32.01M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.51M	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	31.65M	shares	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$34.50K	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	32.94M	shares	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$36.68K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	360,000.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	360,000.00	shares	Point-in-time
Website Acquisition Assets, net	`FiniteLivedIntangibleAssetsNet`	$342.10K	USD	Point-in-time
Website Acquisition Assets, net	`FiniteLivedIntangibleAssetsNet`	$42.94K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$14.70K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$14.70K	USD	Point-in-time
Total Assets	`Assets`	$1.53M	USD	Point-in-time
Total Assets	`Assets`	$1.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$182.87K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$176.28K	USD	Point-in-time
Premium Finance Loan Payable	`LoansPayableCurrent`	$3.18K	USD	Point-in-time
Premium Finance Loan Payable	`LoansPayableCurrent`	$26.97K	USD	Point-in-time
Total Liabilities	`Liabilities`	$209.84K	USD	Point-in-time
Total Liabilities	`Liabilities`	$179.46K	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $.01, 324,000,000 shares authorized, 33,303,234 issued 32,943,234 outstanding and 32,007,000 issued 31,647,000 outstanding, respectively	`CommonStockValue`	$333.03K	USD	Point-in-time
Common stock, par value $.01, 324,000,000 shares authorized, 33,303,234 issued 32,943,234 outstanding and 32,007,000 issued 31,647,000 outstanding, respectively	`CommonStockValue`	$320.07K	USD	Point-in-time
Treasury Stock (360,000 shares)	`TreasuryStockValue`	$2.50K	USD	Point-in-time
Treasury Stock (360,000 shares)	`TreasuryStockValue`	$2.50K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$4.74M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$4.02M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-2.97M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-3.74M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$109.10K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.39M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.36M	USD	Point-in-time
Total shareholders liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.60M	USD	Point-in-time
Total shareholders liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.53M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Product Sales	`SalesRevenueGoodsNet`	$172.40K	USD	2 Qtrs
Product Sales	`SalesRevenueGoodsNet`	$226.49K	USD	1 Quarter
Product Sales	`SalesRevenueGoodsNet`	$429.32K	USD	2 Qtrs
Product Sales	`SalesRevenueGoodsNet`	$102.48K	USD	1 Quarter
Advertising Revenue	`SalesRevenueServicesNet`	$668.00	USD	1 Quarter
Advertising Revenue	`SalesRevenueServicesNet`	$1.31K	USD	2 Qtrs
Advertising Revenue	`SalesRevenueServicesNet`	$35.84K	USD	2 Qtrs
Advertising Revenue	`SalesRevenueServicesNet`	$25.30K	USD	1 Quarter
Total Revenue	`SalesRevenueNet`	$465.16K	USD	2 Qtrs
Total Revenue	`SalesRevenueNet`	$251.79K	USD	1 Quarter
Total Revenue	`SalesRevenueNet`	$103.15K	USD	1 Quarter
Total Revenue	`SalesRevenueNet`	$173.72K	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$179.92K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$139.46K	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$339.78K	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$81.94K	USD	1 Quarter
Gross profit	`GrossProfit`	$21.20K	USD	1 Quarter
Gross profit	`GrossProfit`	$34.26K	USD	2 Qtrs
Gross profit	`GrossProfit`	$125.39K	USD	2 Qtrs
Gross profit	`GrossProfit`	$71.88K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$890.00K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$754.87K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$434.11K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$477.20K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-720.61K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-405.32K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-764.61K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-412.91K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$11.00	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$5.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$14.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$34.00	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$12.09K	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	2 Qtrs
Interest expense	`InterestExpense`	$4.80K	USD	1 Quarter
Total other income (expense), net	`OtherIncome`	$14.00	USD	1 Quarter
Total other income (expense), net	`OtherIncome`	$-4.79K	USD	1 Quarter
Total other income (expense), net	`OtherIncome`	$-12.08K	USD	2 Qtrs
Total other income (expense), net	`OtherIncome`	$34.00	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-732.70K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-764.57K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-417.70K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-405.31K	USD	1 Quarter
Series A & Series B preferred	`PreferredStockDividendsIncomeStatementImpact`	-	USD	1 Quarter
Series A & Series B preferred	`PreferredStockDividendsIncomeStatementImpact`	$10.62K	USD	2 Qtrs
Series A & Series B preferred	`PreferredStockDividendsIncomeStatementImpact`	-	USD	1 Quarter
Series A & Series B preferred	`PreferredStockDividendsIncomeStatementImpact`	-	USD	2 Qtrs
Total preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Total preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Total preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	2 Qtrs
Total preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$10.62K	USD	2 Qtrs
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-732.70K	USD	2 Qtrs
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-417.70K	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-405.31K	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-775.19K	USD	2 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	2 Qtrs
Weighted average shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	35.03M	shares	1 Quarter
Weighted average shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.26M	shares	1 Quarter
Weighted average shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	28.50M	shares	2 Qtrs
Weighted average shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	34.67M	shares	2 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-732.70K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-764.57K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-417.70K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-405.31K	USD	1 Quarter
Depreciation	`Depreciation`	$3.82K	USD	2 Qtrs
Depreciation	`Depreciation`	$5.33K	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$52.85K	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	-	USD	2 Qtrs
Stock option compensation expense	`StockOptionPlanExpense`	$41.33K	USD	2 Qtrs
Stock option compensation expense	`StockOptionPlanExpense`	$10.16K	USD	2 Qtrs
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$140.00K	USD	2 Qtrs
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$12.50K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.78K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$99.64K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$218.87K	USD	2 Qtrs
Prepaid costs and expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-5.68K	USD	2 Qtrs
Prepaid costs and expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.10K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$10.94K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-6.59K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$65.56K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-3.97K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-876.13K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-629.82K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.48K	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.52K	USD	2 Qtrs
Purchase of websites	`PaymentsToAcquireIntangibleAssets`	$352.00K	USD	2 Qtrs
Purchase of websites	`PaymentsToAcquireIntangibleAssets`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.48K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-359.52K	USD	2 Qtrs
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$841.50K	USD	2 Qtrs
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$625.00K	USD	2 Qtrs
Sale of Preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	2 Qtrs
Sale of Preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$50.00K	USD	2 Qtrs
Payments on premium finance loan	`RepaymentsOfLongTermDebt`	$7.38K	USD	2 Qtrs
Payments on premium finance loan	`RepaymentsOfLongTermDebt`	$23.80K	USD	2 Qtrs
Principal repayments-LT debt from related parties	`RepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Principal repayments-LT debt from related parties	`RepaymentsOfRelatedPartyDebt`	$7.31K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$826.82K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$651.20K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-584.44K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$194.52K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$336.68K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$531.21K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$578.19K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$336.68K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$531.21K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$578.19K	USD	Point-in-time
Cash paid for Interest	`InterestPaid`	-	USD	2 Qtrs
Cash paid for Interest	`InterestPaid`	$12.09K	USD	2 Qtrs
Cash paid for Income Taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid for Income Taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Premium finance loan payable recorded as prepaid	`PremiumFinanceLoanPayableRecordedAsPrepaid`	-	USD	2 Qtrs
Premium finance loan payable recorded as prepaid	`PremiumFinanceLoanPayableRecordedAsPrepaid`	$15.66K	USD	2 Qtrs
Conversion of related party notes to common stock	`ConversionOfStockAmountConverted1`	-	USD	2 Qtrs
Conversion of related party notes to common stock	`ConversionOfStockAmountConverted1`	$286.00K	USD	2 Qtrs

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Common stock issued for cash, price per share	`EquityIssuancePerShareAmount`	$0.50	USD	2 Qtrs
Common stock issued for cash pursuant to issuance agreements, price per share	`EquityIssuancePerShareAmountPursuantToPrivatePlacementMemorandum`	0.50	shares	2 Qtrs
Debt conversion, price per share	`DebtInstrumentConvertibleConversionPrice1`	$0.50	USD	Point-in-time
Preferred Stock dividend rate	`PreferredStockDividendRatePercentage`	0.10	pure	2 Qtrs
Balance	`StockholdersEquity`	$109.10K	USD	Point-in-time
Balance	`StockholdersEquity`	$1.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.36M	USD	Point-in-time
Common stock issued for cash ($.50/share) pursuant to exercised stock option grant	`StockIssuedDuringPeriodValueStockOptionsExercised`	$25.00K	USD	2 Qtrs
Common stock issued for cash ($.50/share) pursuant to exercised stock option grant, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	50,000.00	shares	2 Qtrs
Common stock issued for services ($.50/share)	`StockIssuedDuringPeriodValueIssuedForServices`	$12.50K	USD	Point-in-time
Common stock issued for services ($.50/share)	`StockIssuedDuringPeriodValueIssuedForServices`	$12.50K	USD	2 Qtrs
Common stock issued for services ($.50/share), shares	`StockIssuedDuringPeriodSharesIssuedForServices`	25,000.00	shares	Point-in-time
Sale of common stock for cash ($.50/share) pursuant to Subscription Agreement	`StockIssuedDuringPeriodPursuantToSubscriptionAgreement`	$600.00K	USD	2 Qtrs
Sale of Series A preferred stock for cash ($.50/share) pursuant to Subscription Agreement	`StockIssuedDuringPeriodValueSeriesAPreferredShares`	$50.00K	USD	2 Qtrs
Common stock issued for 10% dividend payment pursuant to Series A & B preferred stock Subscription Agreements	`StockIssuedDuringPeriodValueStockDividend`	-	USD	2 Qtrs
Stock option compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$41.33K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-732.70K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-764.57K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-417.70K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-405.31K	USD	1 Quarter
Balance	`StockholdersEquity`	$109.10K	USD	Point-in-time
Balance	`StockholdersEquity`	$1.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.36M	USD	Point-in-time

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