10-Q Filing

DIGITALTOWN, INC. CIK: 1065598 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001056520-11-000464`
Period End Date	20110831
Filing Date	20111013
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	dgtw-20110831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 35 Income Statement 36 Cash Flow Statement 49

Balance Sheet 35 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$103.31K	USD	Point-in-time
Cash	`Cash`	$817.29K	USD	Point-in-time
Prepaid domain name renewal fees	`PrepaidExpenseAndOtherAssets`	$83.03K	USD	Point-in-time
Prepaid domain name renewal fees	`PrepaidExpenseAndOtherAssets`	$37.93K	USD	Point-in-time
Prepaid expense	`PrepaidExpense`	$12.92K	USD	Point-in-time
Prepaid expense	`PrepaidExpense`	$30.43K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$913.23K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$171.67K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$20.31K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$26.67K	USD	Point-in-time
Intangible assets, net	`OtherIntangibleAssetsNet`	$1.12M	USD	Point-in-time
Intangible assets, net	`OtherIntangibleAssetsNet`	$1.11M	USD	Point-in-time
Total assets	`Assets`	$2.05M	USD	Point-in-time
Total assets	`Assets`	$1.31M	USD	Point-in-time
Accounts payable	`AccountsPayable`	$110.79K	USD	Point-in-time
Accounts payable	`AccountsPayable`	$286.75K	USD	Point-in-time
Loan from director/stockholder	`DueToRelatedParties`	$37.09K	USD	Point-in-time
Loan from director/stockholder	`DueToRelatedParties`	$137.09K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilities`	$12.36K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilities`	$3.45K	USD	Point-in-time
Deferred officer compensation	`DeferredCompensationLiabilityCurrent`	$50.29K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$486.48K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$151.33K	USD	Point-in-time
Common stock, $.01 par value, 2,000,000,000 shares authorized,	`CommonStockParOrStatedValuePerShare`	$280.35K	USD	Point-in-time
Common stock, $.01 par value, 2,000,000,000 shares authorized,	`CommonStockParOrStatedValuePerShare`	$289.97K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$23.38M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$21.80M	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$-1.42M	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$-1.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-20.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.83M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$823.80K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.90M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.05M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.31M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$10.53K	USD	2 Qtrs
Revenues	`Revenues`	$5.11K	USD	1 Quarter
Revenues	`Revenues`	$9.15K	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$64.62K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$108.50K	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$130.51K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$-119.98K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$-59.51K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-99.35K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$518.93K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$286.89K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$423.30K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-638.92K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-522.65K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-346.40K	USD	1 Quarter
Interest expense	`InterestExpense`	$-3.63K	USD	2 Qtrs
Interest expense	`InterestExpense`	$-1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$-3.79K	USD	2 Qtrs
Other income	`OtherIncome`	$69.00	USD	1 Quarter
Other income	`OtherIncome`	$9.91K	USD	2 Qtrs
Other income	`OtherIncome`	$76.00	USD	2 Qtrs
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$-3.55K	USD	2 Qtrs
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$-931.00	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$6.11K	USD	2 Qtrs
(Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-516.54K	USD	2 Qtrs
(Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-642.47K	USD	2 Qtrs
(Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-347.33K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-516.54K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-642.47K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-347.33K	USD	1 Quarter
Loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	2 Qtrs
Loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	1 Quarter
Loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`EarningsPerShareBasicAndDiluted`	$28.44M	USD	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`EarningsPerShareBasicAndDiluted`	$28.82M	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`EarningsPerShareBasicAndDiluted`	$27.65M	USD	2 Qtrs

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-516.54K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-642.47K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-347.33K	USD	1 Quarter
Depreciation	`Depreciation`	$2.93K	USD	2 Qtrs
Depreciation	`Depreciation`	$4.86K	USD	2 Qtrs
Amortization of website development costs	`AmortizationOfIntangibleAssets`	$36.62K	USD	2 Qtrs
Amortization of website development costs	`AmortizationOfIntangibleAssets`	$3.89K	USD	2 Qtrs
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$126.04K	USD	2 Qtrs
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$148.57K	USD	2 Qtrs
Stock issued for director fees	`NoninterestExpenseDirectorsFees`	$13.86K	USD	2 Qtrs
Stock issued for director fees	`NoninterestExpenseDirectorsFees`	$14.86K	USD	2 Qtrs
Stock issued for deferred officer compensation	`DeferredCompensationEquity`	$28.20K	USD	Point-in-time
Increase/Decrease in Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-45.09K	USD	2 Qtrs
Increase/Decrease in Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-30.00K	USD	2 Qtrs
Increase/Decrease in Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$17.51K	USD	2 Qtrs
Increase/Decrease in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$90.97K	USD	2 Qtrs
Increase/Decrease in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-205.96K	USD	2 Qtrs
Increase/Decrease in Accrued payroll	`IncreaseDecreaseInDueToEmployeesCurrent`	$-8.90K	USD	2 Qtrs
Increase/Decrease in Accrued payroll	`IncreaseDecreaseInDueToEmployeesCurrent`	$-1.23K	USD	2 Qtrs
Increase/Decrease in Deferred officer compensation	`IncreaseDecreaseInDeferredCompensation`	$-50.29K	USD	2 Qtrs
Increase/Decrease in Deferred officer compensation	`IncreaseDecreaseInDeferredCompensation`	$3.56K	USD	2 Qtrs
Other liability	`OtherLiabilities`	$-15.00K	USD	Point-in-time
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-293.32K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-730.31K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-20.00K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-11.22K	USD	2 Qtrs
Purchase of intangible asset-website development	`OtherIndefiniteLivedIntangibleAssets`	$-95.79K	USD	Point-in-time
Purchases of intangible assets - domain names	`FiniteLivedIntangibleAssetsCostIncurredToRenewOrExtend`	$-5.78K	USD	2 Qtrs
Purchases of intangible assets - domain names	`FiniteLivedIntangibleAssetsCostIncurredToRenewOrExtend`	$-214.00	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.43K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-121.57K	USD	2 Qtrs
Payments on loan - director/stockholder	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-100.00K	USD	2 Qtrs
Payments on loan - director/stockholder	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-51.07K	USD	2 Qtrs
Payments received on stockholder subscription receivables	`ProceedsFromContributedCapital`	$123.00K	USD	2 Qtrs
Payments received on stockholder subscription receivables	`ProceedsFromContributedCapital`	$431.45K	USD	2 Qtrs
Proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$10.00K	USD	2 Qtrs
Proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$1.43M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.46M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$390.38K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$713.98K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-24.50K	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashEquivalentsAtCarryingValue`	$817.29K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashEquivalentsAtCarryingValue`	$103.31K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashEquivalentsAtCarryingValue`	$34.18K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashEquivalentsAtCarryingValue`	$9.67K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashEquivalentsAtCarryingValue`	$817.29K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashEquivalentsAtCarryingValue`	$103.31K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashEquivalentsAtCarryingValue`	$34.18K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashEquivalentsAtCarryingValue`	$9.67K	USD	Point-in-time

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