10-Q Filing

DIGITALTOWN, INC. CIK: 1065598 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001056520-12-000012`
Period End Date	20111130
Filing Date	20120117
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	dgtw-20111130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 41 Income Statement 47 Cash Flow Statement 55

Balance Sheet 41 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$508.00K	USD	Point-in-time
Cash	`Cash`	$103.31K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$5.00K	USD	Point-in-time
Prepaid domain name renewal fees	`PrepaidExpenseAndOtherAssets`	$85.12K	USD	Point-in-time
Prepaid domain name renewal fees	`PrepaidExpenseAndOtherAssets`	$-21.61K	USD	Point-in-time
Prepaid domain name renewal fees	`PrepaidExpenseAndOtherAssets`	$37.93K	USD	Point-in-time
Prepaid expense	`PrepaidExpense`	$-18.31K	USD	Point-in-time
Prepaid expense	`PrepaidExpense`	$15.99K	USD	Point-in-time
Prepaid expense	`PrepaidExpense`	$30.43K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$614.12K	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`	$26.66K	USD	Point-in-time
Intangible assets, net	`OtherIntangibleAssetsNet`	$1.12M	USD	Point-in-time
Intangible assets, net	`OtherIntangibleAssetsNet`	$1.10M	USD	Point-in-time
Total assets	`Assets`	$1.74M	USD	Point-in-time
Total assets	`Assets`	$1.31M	USD	Point-in-time
Accounts payable	`AccountsPayable`	$-25.12K	USD	Point-in-time
Accounts payable	`AccountsPayable`	$286.75K	USD	Point-in-time
Accounts payable	`AccountsPayable`	$10.21K	USD	Point-in-time
Loan from director/stockholder	`DueToRelatedParties`	$137.09K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$10.43K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$12.36K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$5.00K	USD	Point-in-time
Deferred officer compensation	`DeferredCompensationLiabilityCurrent`	$33.56K	USD	Point-in-time
Deferred officer compensation	`DeferredCompensationLiabilityCurrent`	$-50.29K	USD	Point-in-time
Deferred officer compensation	`DeferredCompensationLiabilityCurrent`	$50.29K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$25.64K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$486.48K	USD	Point-in-time
Common stock, .01 par value,	`CommonStockParOrStatedValuePerShare`	$290.21K	USD	Point-in-time
Common stock, .01 par value,	`CommonStockParOrStatedValuePerShare`	$280.35K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$21.80M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$26.48M	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$-1.30M	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$-1.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.76M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.71M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$823.80K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.74M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.31M	USD	Point-in-time

Income Statement 47 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$7.15K	USD	1 Quarter
Revenues	`Revenues`	$12.06K	USD	3 Qtrs
Revenues	`Revenues`	$2.92K	USD	1 Quarter
Revenues	`Revenues`	$17.68K	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$55.06K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$72.85K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$203.36K	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$163.56K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$-65.69K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-151.49K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$-185.68K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$-52.14K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.22M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.74M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$584.42K	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$161.12K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-735.92K	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-3.93M	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-3.29M	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-213.26K	USD	1 Quarter
Interest expense	`InterestExpense`	$-2.03K	USD	1 Quarter
Interest expense	`InterestExpense`	$-3.63K	USD	3 Qtrs
Interest expense	`InterestExpense`	$-3.00	USD	1 Quarter
Interest expense	`InterestExpense`	$-5.83K	USD	3 Qtrs
Other income	`OtherIncome`	$9.91K	USD	3 Qtrs
Other income	`OtherIncome`	$285.00	USD	3 Qtrs
Other income	`OtherIncome`	$209.00	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$4.08K	USD	3 Qtrs
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$206.00	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$-2.03K	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$-3.35K	USD	3 Qtrs
(Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-215.30K	USD	1 Quarter
(Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-3.93M	USD	3 Qtrs
(Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-3.29M	USD	1 Quarter
(Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-731.84K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-731.84K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-215.30K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.93M	USD	3 Qtrs
Loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.03	USD	3 Qtrs
Loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.14	USD	3 Qtrs
Loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.11	USD	1 Quarter
Loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`EarningsPerShareBasicAndDiluted`	$29.01M	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`EarningsPerShareBasicAndDiluted`	$27.74M	USD	3 Qtrs
Weighted average common shares outstanding - basic and diluted	`EarningsPerShareBasicAndDiluted`	$27.92M	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`EarningsPerShareBasicAndDiluted`	$28.63M	USD	3 Qtrs

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-731.84K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-215.30K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.93M	USD	3 Qtrs
Depreciation	`Depreciation`	$7.54K	USD	3 Qtrs
Depreciation	`Depreciation`	$4.88K	USD	3 Qtrs
Amortization of website development costs	`AmortizationOfIntangibleAssets`	$54.93K	USD	3 Qtrs
Amortization of website development costs	`AmortizationOfIntangibleAssets`	$11.29K	USD	3 Qtrs
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$151.27K	USD	3 Qtrs
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$3.21M	USD	3 Qtrs
Stock issued for director fees	`NoninterestExpenseDirectorsFees`	$22.36K	USD	3 Qtrs
Stock issued for director fees	`NoninterestExpenseDirectorsFees`	$21.36K	USD	3 Qtrs
Stock issued for deferred officer compensation	`DeferredCompensationEquity`	$28.20K	USD	Point-in-time
Account receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.00K	USD	3 Qtrs
Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-47.19K	USD	3 Qtrs
Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-21.61K	USD	3 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$14.44K	USD	3 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-18.31K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-25.12K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-276.54K	USD	3 Qtrs
Accrued payroll	`IncreaseDecreaseInDueToEmployeesCurrent`	$5.30K	USD	3 Qtrs
Accrued payroll	`IncreaseDecreaseInDueToEmployeesCurrent`	$-1.93K	USD	3 Qtrs
Deferred officer compensation	`IncreaseDecreaseInDeferredCompensation`	$33.56K	USD	3 Qtrs
Deferred officer compensation	`IncreaseDecreaseInDeferredCompensation`	$-50.29K	USD	3 Qtrs
Other liability	`OtherLiabilities`	$-15.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$5.00K	USD	Point-in-time
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-556.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-992.49K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-13.90K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-20.00K	USD	3 Qtrs
Purchase of intangible asset-website development	`OtherIndefiniteLivedIntangibleAssets`	$-12.12K	USD	Point-in-time
Purchase of intangible asset-website development	`OtherIndefiniteLivedIntangibleAssets`	$-30.00K	USD	Point-in-time
Purchases of intangible assets - domain names	`FiniteLivedIntangibleAssetsCostIncurredToRenewOrExtend`	$-18.25K	USD	3 Qtrs
Purchases of intangible assets - domain names	`FiniteLivedIntangibleAssetsCostIncurredToRenewOrExtend`	$-2.56K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-46.45K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-50.36K	USD	3 Qtrs
Proceeds from loan - director/stockholder	`ProceedsFromRelatedPartyDebt`	$50.00K	USD	3 Qtrs
Payments on loan - director/stockholder	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-51.26K	USD	3 Qtrs
Payments on loan - director/stockholder	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-137.09K	USD	3 Qtrs
Payments received on stockholder subscription receivables	`ProceedsFromContributedCapital`	$123.00K	USD	3 Qtrs
Payments received on stockholder subscription receivables	`ProceedsFromContributedCapital`	$514.08K	USD	3 Qtrs
Proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$105.00K	USD	3 Qtrs
Proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$1.46M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.44M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$617.82K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$404.69K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.46K	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashEquivalentsAtCarryingValue`	$103.31K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashEquivalentsAtCarryingValue`	$45.63K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashEquivalentsAtCarryingValue`	$508.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashEquivalentsAtCarryingValue`	$34.18K	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`	$45.63K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashEquivalentsAtCarryingValue`	$508.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashEquivalentsAtCarryingValue`	$34.18K	USD	Point-in-time

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