10-Q Filing

AMERICAN BATTERY MATERIALS, INC. CIK: 1487718 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001580695-14-000457`
Period End Date	20140630
Filing Date	20140819
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	uvend-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 58 Cash Flow Statement 62

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.35M	shares	Point-in-time
Cash	`Cash`	$31.37K	USD	Point-in-time
Cash	`Cash`	$1.26K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	2.45M	shares	Point-in-time
Cash	`Cash`	$14.62K	USD	Point-in-time
Cash	`Cash`	$16.51K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.45M	shares	Point-in-time
Inventory (net)	`InventoryNet`	$23.28K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.35M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.11K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.21K	USD	Point-in-time
Receivable from U-Vend, Canada, Inc.	`CapitalLeaseObligationReceivablelCurrent`	$162.54K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$181.27K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$56.86K	USD	Point-in-time
Property and equipment (net)	`PropertyPlantAndEquipmentNet`	$485.31K	USD	Point-in-time
Security deposits	`DepositsAssetsNoncurrent`	$6.63K	USD	Point-in-time
Deferred financing costs (net)	`DeferredCosts`	$13.49K	USD	Point-in-time
Deferred financing costs (net)	`DeferredCosts`	$16.33K	USD	Point-in-time
Intangible asset (net)	`IntangibleAssetsNetExcludingGoodwill`	$390.60K	USD	Point-in-time
Goodwill	`Goodwill`	$732.26K	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$1.63M	USD	Point-in-time
Total noncurrent assets	`AssetsNoncurrent`	$16.33K	USD	Point-in-time
Total assets	`Assets`	$1.69M	USD	Point-in-time
Total assets	`Assets`	$197.60K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$35.19K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$124.92K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$28.03K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$108.94K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$51.27K	USD	Point-in-time
Amounts due to officers	`DueToOfficersOrStockholdersCurrent`	$142.61K	USD	Point-in-time
Amounts due to officers	`DueToOfficersOrStockholdersCurrent`	$209.31K	USD	Point-in-time
Note payable - director, net of discount	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$50.00K	USD	Point-in-time
Note payable - director, net of discount	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$139.40K	USD	Point-in-time
Convertible notes payable, net of discount	`ConvertibleNotesPayableCurrent`	$142.85K	USD	Point-in-time
Promissory notes payable	`PromissoryNotesPayable`	$63.41K	USD	Point-in-time
Senior convertible notes, net of discount	`SeniorNotesCurrent`	$123.03K	USD	Point-in-time
Senior convertible notes, net of discount	`SeniorNotesCurrent`	$56.25K	USD	Point-in-time
Current capital lease obligation	`CapitalLeaseObligationsCurrent`	$92.12K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$312.08K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.06M	USD	Point-in-time
Capital Lease obligation, net of discount	`CapitalLeaseObligationsNoncurrent`	$306.65K	USD	Point-in-time
Liability for contingent consideration	`BusinessCombinationContingentConsiderationLiability`	$212.05K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$164.92K	USD	Point-in-time
Warrant liabilities	`DerivativeLiabilitiesNoncurrent`	$660.30K	USD	Point-in-time
Warrant liabilities	`DerivativeLiabilitiesNoncurrent`	$214.61K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$214.61K	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$1.34M	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.001 par value, 600,000,000 shares authorized, 8,346,076 shares issued and outstanding (2,446,276 - 2013)	`CommonStockValue`	$2.45K	USD	Point-in-time
Common stock, $.001 par value, 600,000,000 shares authorized, 8,346,076 shares issued and outstanding (2,446,276 - 2013)	`CommonStockValue`	$8.35K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.44M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.77M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.94M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-714.02K	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-329.09K	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$1.69M	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$197.60K	USD	Point-in-time

Income Statement 58 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$62.01K	USD	1 Quarter
Revenue	`SalesRevenueNet`	$95.64K	USD	2 Qtrs
Cost of revenue	`CostOfRevenue`	$33.97K	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$53.98K	USD	2 Qtrs
Gross loss	`GrossProfit`	$28.04K	USD	1 Quarter
Gross loss	`GrossProfit`	$41.66K	USD	2 Qtrs
Selling	`SellingExpense`	$189.32K	USD	2 Qtrs
Selling	`SellingExpense`	$104.39K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$562.35K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$178.99K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$103.11K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$128.66K	USD	1 Quarter
Operating expenses, Total	`OperatingExpenses`	$178.99K	USD	2 Qtrs
Operating expenses, Total	`OperatingExpenses`	$103.11K	USD	1 Quarter
Operating expenses, Total	`OperatingExpenses`	$233.06K	USD	1 Quarter
Operating expenses, Total	`OperatingExpenses`	$751.67K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-710.02K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-205.02K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-178.99K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-103.11K	USD	1 Quarter
Loss on the fair market value of warrant liabilities	`ChangeInFairValueOfNotesPayable`	$316.36K	USD	1 Quarter
Loss on the fair market value of warrant liabilities	`ChangeInFairValueOfNotesPayable`	$277.67K	USD	2 Qtrs
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$235.08K	USD	2 Qtrs
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$131.30K	USD	1 Quarter
(Gain) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$111.72K	USD	1 Quarter
(Gain) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$111.72K	USD	2 Qtrs
Interest expense	`InterestExpense`	$34.15K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.19K	USD	2 Qtrs
Interest expense	`InterestExpense`	$54.43K	USD	2 Qtrs
Interest expense	`InterestExpense`	$9.63K	USD	1 Quarter
Other expenses, Total	`OtherExpenses`	$9.63K	USD	1 Quarter
Other expenses, Total	`OtherExpenses`	$20.19K	USD	2 Qtrs
Other expenses, Total	`OtherExpenses`	$455.47K	USD	2 Qtrs
Other expenses, Total	`OtherExpenses`	$370.10K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-575.11K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-112.75K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-199.18K	USD	2 Qtrs
Loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.17M	USD	2 Qtrs
Gain from disposal of discontinued operations	`DiscontinuedOperationProvisionForLossGainOnDisposalNetOfTax`	$-3.84K	USD	2 Qtrs
Net income from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$19.17K	USD	2 Qtrs
Income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$23.01K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-176.17K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-112.75K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-575.11K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.17M	USD	2 Qtrs
Net loss from continuing operations per share - basic and diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.67	USD	1 Quarter
Net loss from continuing operations per share - basic and diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.07	USD	1 Quarter
Net loss from continuing operations per share - basic and diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.15	USD	2 Qtrs
Net loss from continuing operations per share - basic and diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-1.34	USD	2 Qtrs
Net income from discontinued operations per share - basic and diluted (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$0.15	USD	2 Qtrs
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	2 Qtrs
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.19	USD	2 Qtrs
Net loss per share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.67	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	148,597.00	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.67M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.99M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	169,353.00	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-575.11K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-176.17K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.17M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-112.75K	USD	1 Quarter
(Income) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$23.01K	USD	2 Qtrs
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$111.72K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$111.72K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$11.80K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$62.11K	USD	2 Qtrs
Common shares issued for advisor fees	`IssuanceOfStockForServicesOrClaims`	$189.57K	USD	2 Qtrs
Warrants issued for advisor fees	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$23.00K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$22.20K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$43.40K	USD	2 Qtrs
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$131.30K	USD	1 Quarter
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$235.08K	USD	2 Qtrs
Common shares issued to satisfy loan from lessor	`IssuanceOfStockForDebt`	$10.00K	USD	2 Qtrs
Loss on fair market value of warrant liabilities	`ChangeInFairValueOfNotesPayable`	$316.36K	USD	1 Quarter
Loss on fair market value of warrant liabilities	`ChangeInFairValueOfNotesPayable`	$277.67K	USD	2 Qtrs
Conversion of accrued interest to common stock	`ConversionOfAccruedInterestToCommonStock`	$500.00	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$8.03K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.25K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$9.71K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$101.02K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$149.01K	USD	2 Qtrs
Amounts due to officers	`IncreaseDecreaseInAccruedSalaries`	$54.34K	USD	2 Qtrs
Net cash used by continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-96.08K	USD	2 Qtrs
Net cash used by continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-216.08K	USD	2 Qtrs
Net cash provided by discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$7.65K	USD	2 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-216.08K	USD	2 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-88.42K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.11K	USD	2 Qtrs
Net proceeds from sale of LegalStore.com	`ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries`	$74.00K	USD	2 Qtrs
Acquisition of business	`PaymentsToAcquireBusinessesGross`	$-11.13K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$74.00K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$8.02K	USD	2 Qtrs
Proceeds from exercise of common stock warrants	`ProceedsFromIssuanceOfCommonStock`	$23.66K	USD	2 Qtrs
Proceeds from senior convertible notes, net of deferred financing costs	`ProceedsFromIssuanceOfSeniorLongTermDebt`	$143.90K	USD	2 Qtrs
Proceeds from note payable director	`ProceedsFromRelatedPartyDebt`	$50.00K	USD	2 Qtrs
Issuance of promissory note	`ProceedsFromNotesPayable`	$10.00K	USD	2 Qtrs
Principal payments on promissory notes	`PrincipalPaymentsOnPromissoryNotes`	$-2.75K	USD	2 Qtrs
Net repayments from related party	`RepaymentsOfRelatedPartyDebt`	$13.83K	USD	2 Qtrs
Advance on bridge financing, net	`ProceedsFromShortTermDebt`	$43.50K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$224.81K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$29.67K	USD	2 Qtrs
Net increase in cash	`CashPeriodIncreaseDecrease`	$15.25K	USD	2 Qtrs
Net increase in cash	`CashPeriodIncreaseDecrease`	$16.75K	USD	2 Qtrs
Cash - beginning of period	`Cash`	$16.51K	USD	Point-in-time
Cash - beginning of period	`Cash`	$14.62K	USD	Point-in-time
Cash - beginning of period	`Cash`	$31.37K	USD	Point-in-time
Cash - beginning of period	`Cash`	$1.26K	USD	Point-in-time
Cash - end of period	`Cash`	$31.37K	USD	Point-in-time
Cash - end of period	`Cash`	$1.26K	USD	Point-in-time
Cash - end of period	`Cash`	$14.62K	USD	Point-in-time
Cash - end of period	`Cash`	$16.51K	USD	Point-in-time
Income taxes	`IncomeTaxesPaid`	$2.20K	USD	2 Qtrs
Interest	`InterestPaid`	$6.96K	USD	2 Qtrs
Note payable and accrued interest converted to shares of common stock	`DebtConversionOriginalDebtAmount1`	$958.77K	USD	2 Qtrs
Acquisition of U-Vend for issuance of shares and effective settlement of inter-company	`NetCashAcquiredAcquisition`	$808.35K	USD	2 Qtrs
Debt discount related to warrant liability and beneficial conversion feature	`DebtInstrumentConvertibleBeneficialConversionFeature`	$341.95K	USD	2 Qtrs
Property and equipment financed by capital leases	`CapitalLeaseObligationsIncurred`	$271.57K	USD	2 Qtrs
Issuance of promissory notes offsetting accrued expenses	`NotesIssued1`	$57.81K	USD	2 Qtrs
Issuance of common shares to satisfy capital lease obligation	`StockIssued1`	$23.92K	USD	2 Qtrs

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