10-K Filing

BRIGHT MOUNTAIN MEDIA, INC. CIK: 1568385 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001553350-15-000306`
Period End Date	20141231
Filing Date	20150331
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	bmaq-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 31 Cash Flow Statement 62 Stockholders Equity 43

Balance Sheet 61 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
Preferred stock, shares issued	`PreferredStockSharesIssued`	4.40M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$336.68K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	2.50M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$590.24K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$572.00	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	2.50M	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	4.40M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$4.11K	USD	Point-in-time
Common shares, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common shares, par value per share	`CommonStockParOrStatedValuePerShare`	$0.50	USD	Point-in-time
Common shares, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid Costs and Expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$86.30K	USD	Point-in-time
Prepaid Costs and Expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$42.20K	USD	Point-in-time
Common shares, par value per share	`CommonStockParOrStatedValuePerShare`	$0.75	USD	Point-in-time
Inventories	`InventoryNet`	$776.45K	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	324.00M	shares	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	324.00M	shares	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 issued	`CommonStockSharesIssued`	32.01M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.46M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	33.48M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.51M	USD	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$34.50K	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	31.65M	shares	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$38.07K	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	33.12M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	360,000.00	shares	Point-in-time
Website Acquisition Assets, net	`FiniteLivedIntangibleAssetsNet`	$443.22K	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
Other Assets	`OtherAssetsNoncurrent`	$14.70K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$12.58K	USD	Point-in-time
Total Assets	`Assets`	$1.60M	USD	Point-in-time
Total Assets	`Assets`	$1.95M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$182.87K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$270.32K	USD	Point-in-time
Premium Finance Loan Payable	`LoansPayableCurrent`	$47.87K	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`	$318.19K	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $.01, 324,000,000 shares authorized, 33,483,234 issued 33,123,234 outstanding, and 32,007,000 issued 31,647,000 outstanding, respectively	`CommonStockValue`	$320.07K	USD	Point-in-time
Common stock, par value $.01, 324,000,000 shares authorized, 33,483,234 issued 33,123,234 outstanding, and 32,007,000 issued 31,647,000 outstanding, respectively	`CommonStockValue`	$334.83K	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`	$5.74M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$4.02M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-4.48M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-2.97M	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`	$1.63M	USD	Point-in-time
Total shareholders liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.60M	USD	Point-in-time
Total shareholders liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.95M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Product Sales	`SalesRevenueGoodsNet`	$1.05M	USD	Annual
Product Sales	`SalesRevenueGoodsNet`	$640.75K	USD	Annual
Revenues from Services	`SalesRevenueServicesNet`	$118.79K	USD	Annual
Revenues from Services	`SalesRevenueServicesNet`	$6.85K	USD	Annual
Total Revenue	`SalesRevenueNet`	$647.60K	USD	Annual
Total Revenue	`SalesRevenueNet`	$1.17M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$820.98K	USD	Annual
Cost of sales	`CostOfGoodsSold`	$522.93K	USD	Annual
Gross profit	`GrossProfit`	$124.68K	USD	Annual
Gross profit	`GrossProfit`	$348.21K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.86M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.41M	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.28M	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.51M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$53.00	USD	Annual
Interest income	`InvestmentIncomeInterest`	$62.00	USD	Annual
Interest expense	`InterestExpense`	$12.09K	USD	Annual
Interest expense	`InterestExpense`	$271.00	USD	Annual
Total other income (expense), net	`OtherIncome`	$-209.00	USD	Annual
Total other income (expense), net	`OtherIncome`	$-12.04K	USD	Annual
Net Loss	`NetIncomeLoss`	$-1.30M	USD	Annual
Net Loss	`NetIncomeLoss`	$-1.51M	USD	Annual
Series A, Series B & Series C preferred	`PreferredStockDividendsIncomeStatementImpact`	-	USD	Annual
Series A, Series B & Series C preferred	`PreferredStockDividendsIncomeStatementImpact`	$10.62K	USD	Annual
Total preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$10.62K	USD	Annual
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.52M	USD	Annual
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.30M	USD	Annual
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	Annual
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	Annual
Weighted average shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.22M	shares	Annual
Weighted average shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	35.21M	shares	Annual

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-1.30M	USD	Annual
Net Loss	`NetIncomeLoss`	$-1.51M	USD	Annual
Bad Debt Expense	`ProvisionForDoubtfulAccounts`	$500.00	USD	Annual
Bad Debt Expense	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Depreciation	`Depreciation`	$11.34K	USD	Annual
Depreciation	`Depreciation`	$8.40K	USD	Annual
Amortization	`AdjustmentForAmortization`	$147.01K	USD	Annual
Amortization	`AdjustmentForAmortization`	-	USD	Annual
Stock option compensation expense	`StockOptionPlanExpense`	$69.89K	USD	Annual
Stock option compensation expense	`StockOptionPlanExpense`	$50.83K	USD	Annual
Impairment of Website Assets	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	Annual
Impairment of Website Assets	`ImpairmentOfIntangibleAssetsFinitelived`	$24.72K	USD	Annual
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$142.78K	USD	Annual
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$27.50K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$572.00	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$11.04K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$473.13K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$262.87K	USD	Annual
Prepaid costs and expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$44.10K	USD	Annual
Prepaid costs and expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.36K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.12K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$48.94K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$87.46K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$182.87K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-25.52K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.67M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.25M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.67K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.91K	USD	Annual
Purchase of websites	`PaymentsToAcquireIntangibleAssets`	$572.00K	USD	Annual
Purchase of websites	`PaymentsToAcquireIntangibleAssets`	-	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-586.91K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.67K	USD	Annual
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$705.00K	USD	Annual
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$851.50K	USD	Annual
Sale of Preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$1.25M	USD	Annual
Sale of Preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$950.00K	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.50K	USD	Annual
Payments on premium finance loan	`RepaymentsOfLongTermDebt`	-	USD	Annual
Payments on premium finance loan	`RepaymentsOfLongTermDebt`	$-20.89K	USD	Annual
Principal repayments-LT debt from related parties	`RepaymentsOfRelatedPartyDebt`	$7.30K	USD	Annual
Principal repayments-LT debt from related parties	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.09M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.68M	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-579.40K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$825.95K	USD	Annual
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`	$590.24K	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`	$590.24K	USD	Point-in-time
Cash paid for Interest	`InterestPaid`	$271.00	USD	Annual
Cash paid for Interest	`InterestPaid`	$12.09K	USD	Annual
Cash paid for Income Taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for Income Taxes	`IncomeTaxesPaid`	-	USD	Annual
Premium finance loan payable recorded as prepaid	`PremiumFinanceLoanPayableRecordedAsPrepaid`	$16.54K	USD	Annual
Premium finance loan payable recorded as prepaid	`PremiumFinanceLoanPayableRecordedAsPrepaid`	$20.89K	USD	Annual
Conversion of related party notes to common stock	`ConversionOfStockAmountConverted1`	-	USD	Annual
Conversion of related party notes to common stock	`ConversionOfStockAmountConverted1`	$286.00K	USD	Annual

Stockholders Equity 43 line items

Line Item	Tag	Value	Unit	Period
Common stock issued for cash, price per share	`EquityIssuancePerShareAmount`	$0.50	USD	Annual
Common stock issued for cash, price per share	`EquityIssuancePerShareAmount`	$0.50	USD	Annual
Common stock issued for cash pursuant to other issuance agreements, price per share	`EquityIssuancePerShareAmountPursuantToPrivatePlacementMemorandum`	0.50	shares	Annual
Common stock issued for cash pursuant to other issuance agreements, price per share	`EquityIssuancePerShareAmountPursuantToPrivatePlacementMemorandum`	0.28	shares	Annual
Debt conversion, price per share	`DebtInstrumentConvertibleConversionPrice1`	$0.28	USD	Point-in-time
Debt conversion, price per share	`DebtInstrumentConvertibleConversionPrice1`	$0.50	USD	Point-in-time
Preferred Stock dividend rate	`PreferredStockDividendRatePercentage`	0.10	pure	Annual
Balance	`StockholdersEquity`	$109.10K	USD	Point-in-time
Balance	`StockholdersEquity`	$1.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.63M	USD	Point-in-time
Conversion of shareholder debt to common stock at $0.28 per share	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$286.00K	USD	Annual
Conversion of shareholder debt to common stock at $0.28 per share, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	1.03M	shares	Annual
Sale of common stock for cash ($.28/share) pursuant to Access Letter	`StockIssuedDuringPeriodForCashPursuantToAccessLetter`	$165.00K	USD	Annual
Sale of common stock for cash ($.28/share) pursuant to Subscription Agreement	`StockIssuedDuringPeriodValueIssuedForCash`	$676.50K	USD	Annual
Common stock issued for services (.28/share)	`StockIssuedDuringPeriodValueIssuedForServicesOther`	$142.78K	USD	Annual
Common stock issued for cash ($.50/share) pursuant to exercised stock option grant	`StockIssuedDuringPeriodValueStockOptionsExercised`	$10.00K	USD	Annual
Common stock issued for cash ($.50/share) pursuant to exercised stock option grant	`StockIssuedDuringPeriodValueStockOptionsExercised`	$10.00K	USD	Point-in-time
Common stock issued for cash ($.50/share) pursuant to exercised stock option grant	`StockIssuedDuringPeriodValueStockOptionsExercised`	$25.00K	USD	Annual
Common stock issued for cash ($.50/share) pursuant to exercised stock option grant, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	20,000.00	shares	Point-in-time
Common stock issued for cash ($.50/share) pursuant to exercised stock option grant, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	50,000.00	shares	Annual
Common stock issued for cash ($.50/share) pursuant to exercised stock option grant, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	20,000.00	shares	Annual
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 ($.50/share), shares	`StockIssuedDuringPeriodSharesIssuedForServices`	10,000.00	shares	Point-in-time
Common stock issued for services ($.50/share)	`StockIssuedDuringPeriodValueIssuedForServices`	$27.50K	USD	Annual
Common stock issued for services ($.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)	`StockIssuedDuringPeriodValueIssuedForServices`	$2.78K	USD	Point-in-time
Sale of common stock for cash ($.50/share) pursuant to Subscription Agreement	`StockIssuedDuringPeriodPursuantToSubscriptionAgreement`	$680.00K	USD	Annual
Sale of Series A preferred stock for cash ($.50/share) pursuant to Subscription Agreement	`StockIssuedDuringPeriodValueSeriesAPreferredShares`	$750.00K	USD	Annual
Sale of Series C preferred stock for cash ($.50/share) pursuant to Subscription Agreement	`StockIssuedDuringPeriodValuePreferredShares`	$900.00K	USD	Annual
Sale of Series C preferred stock for cash ($.50/share) pursuant to Subscription Agreement	`StockIssuedDuringPeriodValuePreferredShares`	$500.00K	USD	Annual
Common stock issued for 10% dividend payment pursuant to Series A & B preferred stock Subscription Agreements	`StockIssuedDuringPeriodValueStockDividend`	-	USD	Annual
Stock option compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$50.83K	USD	Annual
Stock option compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$69.89K	USD	Annual
Net Loss	`NetIncomeLoss`	$-1.30M	USD	Annual
Net Loss	`NetIncomeLoss`	$-1.51M	USD	Annual
Repurchase of shares of common stock for cash	`StockRepurchasedDuringPeriodValue`	$2.50K	USD	Annual
Repurchase of shares of common stock for cash	`StockRepurchasedDuringPeriodValue`	$2.50K	USD	Point-in-time
Repurchase of shares of common stock for cash, shares	`StockRepurchasedDuringPeriodShares`	360,000.00	shares	Point-in-time
Balance	`StockholdersEquity`	$109.10K	USD	Point-in-time
Balance	`StockholdersEquity`	$1.39M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.63M	USD	Point-in-time

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