10-Q Filing

BRIGHT MOUNTAIN MEDIA, INC. CIK: 1568385 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001553350-15-000423`
Period End Date	20150331
Filing Date	20150508
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	bmaq-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 32 Cash Flow Statement 50 Stockholders Equity 18

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$437.11K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$590.24K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	5.10M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	5.10M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$486.82K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	4.40M	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	4.40M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$4.96K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$4.11K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid Costs and Expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$86.30K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid Costs and Expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$77.12K	USD	Point-in-time
Inventories	`InventoryNet`	$776.45K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	324.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	324.00M	shares	Point-in-time
Inventories	`InventoryNet`	$916.56K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.44M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	34.12M	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
Common shares, shares outstanding	`CommonStockSharesOutstanding`	33.76M	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
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$41.13K	USD	Point-in-time
Website Acquisition Assets, net	`FiniteLivedIntangibleAssetsNet`	$443.22K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	360,000.00	shares	Point-in-time
Website Acquisition Assets, net	`FiniteLivedIntangibleAssetsNet`	$742.39K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	360,000.00	shares	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$12.58K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$12.58K	USD	Point-in-time
Total Assets	`Assets`	$1.95M	USD	Point-in-time
Total Assets	`Assets`	$2.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$281.69K	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`	$25.04K	USD	Point-in-time
Total Liabilities	`Liabilities`	$306.73K	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, 34,123,059 issued 33,763,059 outstanding, and 33,483,234 issued 33,123,234 outstanding, respectively	`CommonStockValue`	$334.83K	USD	Point-in-time
Common stock, par value $.01, 324,000,000 shares authorized, 34,123,059 issued 33,763,059 outstanding, and 33,483,234 issued 33,123,234 outstanding, respectively	`CommonStockValue`	$341.23K	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`	$6.35M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$5.74M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-4.82M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-4.48M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.93M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.63M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.95M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$2.23M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Product Sales	`SalesRevenueGoodsNet`	$261.72K	USD	1 Quarter
Product Sales	`SalesRevenueGoodsNet`	$202.83K	USD	1 Quarter
Revenues from Services	`SalesRevenueServicesNet`	$48.36K	USD	1 Quarter
Revenues from Services	`SalesRevenueServicesNet`	$10.54K	USD	1 Quarter
Total Revenue	`SalesRevenueNet`	$213.37K	USD	1 Quarter
Total Revenue	`SalesRevenueNet`	$310.08K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$188.11K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$159.86K	USD	1 Quarter
Gross profit	`GrossProfit`	$121.97K	USD	1 Quarter
Gross profit	`GrossProfit`	$53.51K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$412.79K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$455.74K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-333.77K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-359.28K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$20.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$8.00	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$445.00	USD	1 Quarter
Total other income (expense), net	`OtherIncome`	$-437.00	USD	1 Quarter
Total other income (expense), net	`OtherIncome`	$20.00	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-359.26K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-334.21K	USD	1 Quarter
Series A, Series B, Series C & Series D preferred	`PreferredStockDividendsIncomeStatementImpact`	$10.62K	USD	1 Quarter
Series A, Series B, Series C & Series D preferred	`PreferredStockDividendsIncomeStatementImpact`	$72.82K	USD	1 Quarter
Total preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Total preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-407.02K	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-369.88K	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	35.56M	shares	1 Quarter
Weighted average shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	34.29M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-359.26K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-334.21K	USD	1 Quarter
Depreciation	`Depreciation`	$3.34K	USD	1 Quarter
Depreciation	`Depreciation`	$2.58K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$21.38K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$40.34K	USD	1 Quarter
Stock option compensation expense	`StockOptionPlanExpense`	$25.76K	USD	1 Quarter
Stock option compensation expense	`StockOptionPlanExpense`	$13.73K	USD	1 Quarter
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$300.00	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$2.48K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$847.00	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$140.11K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$109.57K	USD	1 Quarter
Prepaid costs and expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-9.18K	USD	1 Quarter
Prepaid costs and expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.04K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-12.63K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-15.25K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-420.91K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-434.80K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.02K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.39K	USD	1 Quarter
Purchase of websites	`PaymentsToAcquireIntangibleAssets`	$300.00K	USD	1 Quarter
Purchase of websites	`PaymentsToAcquireIntangibleAssets`	$53.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-59.39K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-304.02K	USD	1 Quarter
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	1 Quarter
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Sale of Preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$350.00K	USD	1 Quarter
Sale of Preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$50.00K	USD	1 Quarter
Payments on premium finance loan	`RepaymentsOfLongTermDebt`	$22.82K	USD	1 Quarter
Payments on premium finance loan	`RepaymentsOfLongTermDebt`	$12.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$63.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$327.18K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-153.12K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-675.81K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$437.11K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$590.24K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$486.82K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$437.11K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$590.24K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$486.82K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Cash paid for Interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for Interest	`InterestPaid`	$445.00	USD	1 Quarter
Cash paid for Income Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for Income Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Common stock issued for purchase of websites	`StockIssued1`	$262.50K	USD	1 Quarter
Common stock issued for purchase of websites	`StockIssued1`	-	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Common stock issued for cash, price per share	`EquityIssuancePerShareAmount`	$0.75	USD	1 Quarter
Debt conversion, price per share	`DebtInstrumentConvertibleConversionPrice1`	$0.50	USD	Point-in-time
Preferred Stock dividend rate	`PreferredStockDividendRatePercentage`	0.10	pure	1 Quarter
Common Stock issued for acquisitions, Per share price	`BusinessAcquisitionSharePrice`	$0.75	USD	Point-in-time
Balance	`StockholdersEquity`	$1.93M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.63M	USD	Point-in-time
Common stock issued for services ($.75/share)	`StockIssuedDuringPeriodValueIssuedForServices`	$300.00	USD	1 Quarter
Sale of Series A preferred stock for cash ($.50/share) pursuant to Subscription Agreement	`StockIssuedDuringPeriodValueSeriesAPreferredShares`	$100.00K	USD	1 Quarter
Sale of Series D preferred stock for cash ($.50/share) pursuant to Subscription Agreement	`StockIssuedDuringPeriodValuePreferredShares`	$250.00K	USD	1 Quarter
Common stock issued for 10% dividend payment pursuant to Series A preferred stock Subscription Agreements	`StockIssuedDuringPeriodValueStockDividend`	-	USD	1 Quarter
Common stock issued for 10% dividend payment pursuant to Series B preferred stock Subscription Agreements	`StockIssuedDuringPeriodValueStockDividendSeriesB`	-	USD	1 Quarter
Common stock issued for 10% dividend payment pursuant to Series C preferred stock Subscription Agreements	`StockIssuedDuringPeriodValueStockDividendSeriesC`	-	USD	1 Quarter
Stock option compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$13.73K	USD	1 Quarter
Common Stock issued for acquisitions ($0.75/share)	`StockIssuedDuringPeriodValueAcquisitions`	$262.50K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-359.26K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-334.21K	USD	1 Quarter
Balance	`StockholdersEquity`	$1.93M	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.