10-Q Filing

BRIGHT MOUNTAIN MEDIA, INC. CIK: 1568385 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001553350-17-000659`
Period End Date	20170331
Filing Date	20170522
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	bmtm-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 38 Cash Flow Statement 62 Stockholders Equity 11

Balance Sheet 71 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`	$162.79K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	100,000.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	100,000.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$198.62K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$34.46K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$416.19K	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$68.35K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	100,000.00	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$157.01K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	100,000.00	shares	Point-in-time
Prepaid Expenses and Other Current Assets	`PrepaidExpenseAndOtherAssetsCurrent`	$132.95K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid Expenses and Other Current Assets	`PrepaidExpenseAndOtherAssetsCurrent`	$120.29K	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`	$1.13M	USD	Point-in-time
Inventories	`InventoryNet`	$1.21M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.92M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.58M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.43M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.90M	shares	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$101.55K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.90M	shares	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$99.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.92M	shares	Point-in-time
Website Acquisition Assets, net	`FiniteLivedIntangibleAssetsNet`	$967.11K	USD	Point-in-time
Website Acquisition Assets, net	`FiniteLivedIntangibleAssetsNet`	$891.31K	USD	Point-in-time
Tradenames	`FiniteLivedTradeNamesGross`	$150.00K	USD	Point-in-time
Tradenames	`FiniteLivedTradeNamesGross`	$150.00K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$184.40K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$170.32K	USD	Point-in-time
Total Assets	`Assets`	$2.98M	USD	Point-in-time
Total Assets	`Assets`	$2.21M	USD	Point-in-time
Total Assets	`Assets`	$2.75M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$663.91K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$654.14K	USD	Point-in-time
Accrued Interest	`AccruedLiabilitiesCurrent`	$42.36K	USD	Point-in-time
Accrued Interest	`AccruedLiabilitiesCurrent`	$11.11K	USD	Point-in-time
Accrued Interest to Related Party	`InterestPayableCurrent`	$5.59K	USD	Point-in-time
Accrued Interest to Related Party	`InterestPayableCurrent`	$9.41K	USD	Point-in-time
Premium Finance Loan Payable	`LoansPayableCurrent`	$28.40K	USD	Point-in-time
Premium Finance Loan Payable	`LoansPayableCurrent`	$53.64K	USD	Point-in-time
Deferred Rent	`AccruedRentCurrent`	$6.01K	USD	Point-in-time
Deferred Rent	`AccruedRentCurrent`	-	USD	Point-in-time
Note Payable	`NotesPayableCurrent`	$500.00K	USD	Point-in-time
Note Payable	`NotesPayableCurrent`	$500.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.25M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.22M	USD	Point-in-time
Long Term Deferred Rent	`AccruedRentNoncurrent`	$5.18K	USD	Point-in-time
Long Term Deferred Rent	`AccruedRentNoncurrent`	-	USD	Point-in-time
Long Term Debt to Related Parties, net	`NotesPayableRelatedPartiesClassifiedCurrent`	$185.91K	USD	Point-in-time
Long Term Debt to Related Parties, net	`NotesPayableRelatedPartiesClassifiedCurrent`	$317.06K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.41M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.57M	USD	Point-in-time
Commitments and contingencies (See Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (See Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.01, 324,000,000 shares authorized, 44,915,131 issued and outstanding and 44,901,531 issued and outstanding, respectively	`CommonStockValue`	$449.15K	USD	Point-in-time
Common stock, par value $0.01, 324,000,000 shares authorized, 44,915,131 issued and outstanding and 44,901,531 issued and outstanding, respectively	`CommonStockValue`	$449.02K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$10.23M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.94M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-9.51M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-8.82M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.57M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.17M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$2.98M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$2.75M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Product Sales	`SalesRevenueGoodsNet`	$347.78K	USD	1 Quarter
Product Sales	`SalesRevenueGoodsNet`	$551.36K	USD	1 Quarter
Revenues from services	`SalesRevenueServicesNet`	$109.74K	USD	1 Quarter
Revenues from services	`SalesRevenueServicesNet`	$76.64K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$424.42K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$661.10K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$270.54K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$376.06K	USD	1 Quarter
Gross profit	`GrossProfit`	$285.04K	USD	1 Quarter
Gross profit	`GrossProfit`	$153.88K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$786.71K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$884.20K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-599.16K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-632.83K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$82.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$4.00	USD	1 Quarter
Interest expense	`InterestExpense`	$35.16K	USD	1 Quarter
Interest expense	`InterestExpense`	$16.13K	USD	1 Quarter
Interest expense - related party	`InterestExpenseRelatedParty`	$49.01K	USD	1 Quarter
Interest expense - related party	`InterestExpenseRelatedParty`	-	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-84.09K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-16.12K	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-683.25K	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-648.96K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-648.96K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-683.25K	USD	1 Quarter
Series A, Series B, Series C and Series D preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$90.10K	USD	1 Quarter
Series A, Series B, Series C and Series D preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$1.97K	USD	1 Quarter
Total preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$90.10K	USD	1 Quarter
Total preferred stock dividends	`PreferredStockDividendsAndOtherAdjustments`	$1.97K	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-685.22K	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-739.06K	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	36.48M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	44.91M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-648.96K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-683.25K	USD	1 Quarter
Depreciation	`Depreciation`	$3.33K	USD	1 Quarter
Depreciation	`Depreciation`	$5.49K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$7.78K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$28.89K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$62.84K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$75.81K	USD	1 Quarter
Stock option compensation expense	`StockOptionPlanExpense`	$17.57K	USD	1 Quarter
Stock option compensation expense	`StockOptionPlanExpense`	$38.26K	USD	1 Quarter
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$3.06K	USD	1 Quarter
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$44.48K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-9.94K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-88.67K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$82.02K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-36.32K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-18.45K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-63.08K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.04K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-67.17K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	-	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$31.25K	USD	1 Quarter
Accrued interest - related party	`IncreaseDecreaseInInterestPayableRelatedPartyNet`	$3.81K	USD	1 Quarter
Accrued interest - related party	`IncreaseDecreaseInInterestPayableRelatedPartyNet`	-	USD	1 Quarter
Deferred rents	`IncreaseDecreaseInOtherDeferredLiability`	$11.19K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$36.33K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-445.06K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-515.41K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.62K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.04K	USD	1 Quarter
Purchase of websites	`PaymentsToAcquireIntangibleAssets`	$119.50K	USD	1 Quarter
Purchase of websites	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-125.12K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-8.04K	USD	1 Quarter
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$350.00K	USD	1 Quarter
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Repayments on insurance premium notes payable	`RepaymentsOfLongTermDebt`	$27.03K	USD	1 Quarter
Repayments on insurance premium notes payable	`RepaymentsOfLongTermDebt`	$25.24K	USD	1 Quarter
Long-term debt - Loan from related parties	`ProceedsFromRelatedPartyDebt`	$100.00K	USD	1 Quarter
Long-term debt - Loan from related parties	`ProceedsFromRelatedPartyDebt`	$350.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$324.76K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$422.97K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-217.56K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-128.34K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$162.79K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$198.62K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$34.46K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$416.19K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$162.79K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$198.62K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$34.46K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$416.19K	USD	Point-in-time
Cash paid for Interest	`InterestPaid`	$20.22K	USD	1 Quarter
Cash paid for Interest	`InterestPaid`	$8.35K	USD	1 Quarter
Cash paid for Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for Income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Premium finance loan payable recorded as prepaid	`PremiumFinanceLoanPayableRecordedAsPrepaid`	$63.06K	USD	1 Quarter
Premium finance loan payable recorded as prepaid	`PremiumFinanceLoanPayableRecordedAsPrepaid`	$28.40K	USD	1 Quarter
Payable for purchase of website	`LiabilitiesAssumed1`	-	USD	1 Quarter
Payable for purchase of website	`LiabilitiesAssumed1`	$150.00K	USD	1 Quarter
Debt discount on convertible notes payable	`DebtDiscountOnConvertibleNotesPayable`	-	USD	1 Quarter
Debt discount on convertible notes payable	`DebtDiscountOnConvertibleNotesPayable`	$245.00K	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Common stock issued for services, Price Per Share	`CommonStockIssuedForServicesPricePerShare`	$0.85	USD	Point-in-time
Balance	`StockholdersEquity`	$1.57M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.17M	USD	Point-in-time
Common stock issued for services ($0.850/share)	`StockIssuedDuringPeriodValueIssuedForServices`	$3.06K	USD	1 Quarter
Common stock issued for 10% dividend payment pursuant to Series A preferred stock	`StockIssuedDuringPeriodValueSeriesAPreferredShares`	-	USD	1 Quarter
Stock option compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$38.26K	USD	1 Quarter
Beneficial conversion feature	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$245.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-648.96K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-683.25K	USD	1 Quarter
Balance	`StockholdersEquity`	$1.57M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.17M	USD	Point-in-time

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