10-Q Filing

BRIGHT MOUNTAIN MEDIA, INC. CIK: 1568385 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001553350-14-001345`
Period End Date	20140930
Filing Date	20141112
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	bmaq-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 64 Cash Flow Statement 62 Stockholders Equity 25

Balance Sheet 58 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`	$1.16M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	2.60M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$198.04K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$380.11K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$336.68K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	2.60M	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1.50M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$572.00	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$2.82K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1.50M	shares	Point-in-time
Prepaid Costs and Expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$42.20K	USD	Point-in-time
Common shares, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid Costs and Expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$40.83K	USD	Point-in-time
Common shares, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	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
Inventories	`InventoryNet`	$651.16K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.07M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.51M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	33.41M	shares	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	32.01M	shares	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$35.84K	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	33.05M	shares	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	31.65M	shares	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$34.50K	USD	Point-in-time
Website Acquisition Assets, net	`FiniteLivedIntangibleAssetsNet`	$42.94K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	360,000.00	shares	Point-in-time
Website Acquisition Assets, net	`FiniteLivedIntangibleAssetsNet`	$519.18K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	360,000.00	shares	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$22.58K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$14.70K	USD	Point-in-time
Total Assets	`Assets`	$1.60M	USD	Point-in-time
Total Assets	`Assets`	$1.65M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$182.87K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$208.68K	USD	Point-in-time
Premium Finance Loan Payable	`LoansPayableCurrent`	$15.46K	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`	$224.15K	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $.01, 324,000,000 shares authorized, 33,413,234 issued 33,053,234 outstanding, and 32,007,000 issued 31,647,000 outstanding, respectively	`CommonStockValue`	$334.13K	USD	Point-in-time
Common stock, par value $.01, 324,000,000 shares authorized, 33,413,234 issued 33,053,234 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`	$5.15M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$4.02M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-4.08M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-2.97M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.39M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.43M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.60M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.65M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Product Sales	`SalesRevenueGoodsNet`	$245.81K	USD	1 Quarter
Product Sales	`SalesRevenueGoodsNet`	$323.15K	USD	3 Qtrs
Product Sales	`SalesRevenueGoodsNet`	$675.13K	USD	3 Qtrs
Product Sales	`SalesRevenueGoodsNet`	$150.75K	USD	1 Quarter
Advertising Revenue	`SalesRevenueServicesNet`	$66.88K	USD	3 Qtrs
Advertising Revenue	`SalesRevenueServicesNet`	$1.02K	USD	1 Quarter
Advertising Revenue	`SalesRevenueServicesNet`	$31.03K	USD	1 Quarter
Advertising Revenue	`SalesRevenueServicesNet`	$2.34K	USD	3 Qtrs
Total Revenue	`SalesRevenueNet`	$325.49K	USD	3 Qtrs
Total Revenue	`SalesRevenueNet`	$742.01K	USD	3 Qtrs
Total Revenue	`SalesRevenueNet`	$276.84K	USD	1 Quarter
Total Revenue	`SalesRevenueNet`	$151.77K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$186.61K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$526.39K	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$254.99K	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$115.53K	USD	1 Quarter
Gross profit	`GrossProfit`	$90.23K	USD	1 Quarter
Gross profit	`GrossProfit`	$215.62K	USD	3 Qtrs
Gross profit	`GrossProfit`	$70.49K	USD	3 Qtrs
Gross profit	`GrossProfit`	$36.24K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$435.20K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$295.02K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.33M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.05M	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-344.97K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-258.79K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.11M	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-979.40K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$9.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$7.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$41.00	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$20.00	USD	3 Qtrs
Interest expense	`InterestExpense`	$12.09K	USD	3 Qtrs
Interest expense	`InterestExpense`	-	USD	3 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Total other income (expense), net	`OtherIncome`	$41.00	USD	3 Qtrs
Total other income (expense), net	`OtherIncome`	$7.00	USD	1 Quarter
Total other income (expense), net	`OtherIncome`	$9.00	USD	1 Quarter
Total other income (expense), net	`OtherIncome`	$-12.07K	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-991.47K	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-1.11M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-258.78K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-344.96K	USD	1 Quarter
Series A & Series B & Series C preferred	`PreferredStockDividendsIncomeStatementImpact`	-	USD	3 Qtrs
Series A & Series B & Series C preferred	`PreferredStockDividendsIncomeStatementImpact`	$10.62K	USD	3 Qtrs
Series A & Series B & Series C preferred	`PreferredStockDividendsIncomeStatementImpact`	-	USD	1 Quarter
Series A & Series B & Series C preferred	`PreferredStockDividendsIncomeStatementImpact`	-	USD	1 Quarter
Total preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	3 Qtrs
Total preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Total preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$10.62K	USD	3 Qtrs
Total preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-344.96K	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-258.78K	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-991.47K	USD	3 Qtrs
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.12M	USD	3 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	3 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	3 Qtrs
Weighted average shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.62M	shares	1 Quarter
Weighted average shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	29.56M	shares	3 Qtrs
Weighted average shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33.05M	shares	1 Quarter
Weighted average shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.47M	shares	3 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-991.47K	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-1.11M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-258.78K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-344.96K	USD	1 Quarter
Depreciation	`Depreciation`	$8.22K	USD	3 Qtrs
Depreciation	`Depreciation`	$5.95K	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	-	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$95.76K	USD	3 Qtrs
Stock option compensation expense	`StockOptionPlanExpense`	$30.62K	USD	3 Qtrs
Stock option compensation expense	`StockOptionPlanExpense`	$51.90K	USD	3 Qtrs
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$20.00K	USD	3 Qtrs
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$145.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.25K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$189.72K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$347.84K	USD	3 Qtrs
Prepaid costs and expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.37K	USD	3 Qtrs
Prepaid costs and expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.38K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$7.88K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$18.94K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$94.35K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$25.82K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-20.13K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-947.74K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.26M	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.85K	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.57K	USD	3 Qtrs
Purchase of websites	`PaymentsToAcquireIntangibleAssets`	$572.00K	USD	3 Qtrs
Purchase of websites	`PaymentsToAcquireIntangibleAssets`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-581.57K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.85K	USD	3 Qtrs
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$675.00K	USD	3 Qtrs
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$841.50K	USD	3 Qtrs
Sale of Preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	3 Qtrs
Sale of Preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$400.00K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.50K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	3 Qtrs
Payments on premium finance loan	`RepaymentsOfLongTermDebt`	$11.51K	USD	3 Qtrs
Payments on premium finance loan	`RepaymentsOfLongTermDebt`	$14.74K	USD	3 Qtrs
Principal repayments-LT debt from related parties	`RepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Principal repayments-LT debt from related parties	`RepaymentsOfRelatedPartyDebt`	$7.30K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.06M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$816.96K	USD	3 Qtrs
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-782.52K	USD	3 Qtrs
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-138.64K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$198.04K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$380.11K	USD	Point-in-time
Cash at beginning 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`	$198.04K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$380.11K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$336.68K	USD	Point-in-time
Cash paid for Interest	`InterestPaid`	$12.09K	USD	3 Qtrs
Cash paid for Interest	`InterestPaid`	-	USD	3 Qtrs
Cash paid for Income Taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid for Income Taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Premium finance loan payable recorded as prepaid	`PremiumFinanceLoanPayableRecordedAsPrepaid`	$19.29K	USD	3 Qtrs
Premium finance loan payable recorded as prepaid	`PremiumFinanceLoanPayableRecordedAsPrepaid`	-	USD	3 Qtrs
Conversion of related party notes to common stock	`ConversionOfStockAmountConverted1`	-	USD	3 Qtrs
Conversion of related party notes to common stock	`ConversionOfStockAmountConverted1`	$286.00K	USD	3 Qtrs

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Common stock issued for cash, price per share	`EquityIssuancePerShareAmount`	$0.50	USD	3 Qtrs
Common stock issued for cash pursuant to issuance agreements, price per share	`EquityIssuancePerShareAmountPursuantToPrivatePlacementMemorandum`	0.50	shares	3 Qtrs
Debt conversion, price per share	`DebtInstrumentConvertibleConversionPrice1`	$0.50	USD	Point-in-time
Preferred Stock dividend rate	`PreferredStockDividendRatePercentage`	0.10	pure	3 Qtrs
Balance	`StockholdersEquity`	$1.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.43M	USD	Point-in-time
Common stock issued for cash ($.50/share) pursuant to exercised stock option grant	`StockIssuedDuringPeriodValueStockOptionsExercised`	$25.00K	USD	3 Qtrs
Common stock issued for cash ($.50/share) pursuant to exercised stock option grant, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	50,000.00	shares	3 Qtrs
Common stock issued for services ($.50/share)	`StockIssuedDuringPeriodValueIssuedForServices`	$12.50K	USD	3 Qtrs
Common stock issued for services ($.50/share)	`StockIssuedDuringPeriodValueIssuedForServices`	$7.50K	USD	Point-in-time
Common stock issued for services ($.50/share)	`StockIssuedDuringPeriodValueIssuedForServices`	$12.50K	USD	Point-in-time
Common stock issued for services ($.50/share), shares	`StockIssuedDuringPeriodSharesIssuedForServices`	25,000.00	shares	Point-in-time
Common stock issued for services ($.50/share), shares	`StockIssuedDuringPeriodSharesIssuedForServices`	10,000.00	shares	Point-in-time
Common stock issued for services ($.75/share)	`StockIssuedDuringPeriodValueIssuedForServicesTwo`	$7.50K	USD	3 Qtrs
Sale of common stock for cash ($.50/share) pursuant to Subscription Agreement	`StockIssuedDuringPeriodPursuantToSubscriptionAgreement`	$650.00K	USD	3 Qtrs
Sale of Series A preferred stock for cash ($.50/share) pursuant to Subscription Agreement	`StockIssuedDuringPeriodValueSeriesAPreferredShares`	$50.00K	USD	3 Qtrs
Sale of Series C preferred stock for cash ($.50/share) pursuant to Subscription Agreement	`StockIssuedDuringPeriodValuePreferredShares`	$350.00K	USD	3 Qtrs
Common stock issued for 10% dividend payment pursuant to Series A & B preferred stock Subscription Agreements	`StockIssuedDuringPeriodValueStockDividend`	-	USD	3 Qtrs
Stock option compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$51.90K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-991.47K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.11M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-258.78K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-344.96K	USD	1 Quarter
Balance	`StockholdersEquity`	$1.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.43M	USD	Point-in-time

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