10-Q Filing

DIGITALTOWN, INC. CIK: 1065598 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001056520-12-000315`
Period End Date	20120531
Filing Date	20120717
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	dgtw-20120531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 37 Income Statement 23 Cash Flow Statement 44

Balance Sheet 37 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$221.90K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$266.37K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$9.22K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$5.58K	USD	Point-in-time
Current portion of prepaid domain name renewal fees	`PrepaidExpenseAndOtherAssets`	$155.80K	USD	Point-in-time
Current portion of prepaid domain name renewal fees	`PrepaidExpenseAndOtherAssets`	$128.92K	USD	Point-in-time
Prepaid expenses	`PrepaidExpense`	$2.88K	USD	Point-in-time
Prepaid expenses	`PrepaidExpense`	$6.97K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$403.75K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$393.90K	USD	Point-in-time
Prepaid domain name renewal fees, net of current portion	`PrepaidExpenseCurrent`	$10.03K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.18K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$25.66K	USD	Point-in-time
Intangible assets, net	`OtherIntangibleAssetsNet`	$1.08M	USD	Point-in-time
Intangible assets, net	`OtherIntangibleAssetsNet`	$1.05M	USD	Point-in-time
Total assets	`Assets`	$1.51M	USD	Point-in-time
Total assets	`Assets`	$1.48M	USD	Point-in-time
Accounts payable	`AccountsPayable`	$118.83K	USD	Point-in-time
Accounts payable	`AccountsPayable`	$26.95K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$6.03K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$14.22K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$4.47K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$24.84K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$157.89K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.45K	USD	Point-in-time
Common stock, $.01 par value, 2,000,000,000 shares authorized, 29,144,413 and 29,047,638 shares issued and outstanding at May 31, 2012 and February 29, 2012, respectively	`CommonStockParOrStatedValuePerShare`	$290.47K	USD	Point-in-time
Common stock, $.01 par value, 2,000,000,000 shares authorized, 29,144,413 and 29,047,638 shares issued and outstanding at May 31, 2012 and February 29, 2012, respectively	`CommonStockParOrStatedValuePerShare`	$291.44K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$26.74M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$26.56M	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$-1.30M	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$-1.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.32M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.47M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.48M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.51M	USD	Point-in-time

Income Statement 23 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$7.97K	USD	1 Quarter
Revenues	`Revenues`	$5.42K	USD	5 Qtrs
Cost of revenues	`CostOfRevenue`	$65.89K	USD	5 Qtrs
Cost of revenues	`CostOfRevenue`	$119.38K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-111.40K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-60.47K	USD	5 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$448.45K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$232.04K	USD	5 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-292.51K	USD	5 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-559.85K	USD	1 Quarter
Interest expense	`InterestExpense`	$-2.63K	USD	5 Qtrs
Other income	`OtherIncome`	$7.00	USD	5 Qtrs
Other income	`OtherIncome`	$174.40K	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$174.40K	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$-2.62K	USD	5 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-295.13K	USD	5 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet`	$-385.45K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-385.45K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-295.13K	USD	5 Qtrs
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	5 Qtrs
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`EarningsPerShareBasicAndDiluted`	$29.11M	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`EarningsPerShareBasicAndDiluted`	$28.06M	USD	5 Qtrs

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net loss	`IncomeLossAttributableToParent`	$-385.45K	USD	1 Quarter
Net loss	`IncomeLossAttributableToParent`	$-295.13K	USD	5 Qtrs
Depreciation	`Depreciation`	$3.00K	USD	1 Quarter
Depreciation	`Depreciation`	$2.25K	USD	5 Qtrs
Amortization of website development costs	`AmortizationOfIntangibleAssets`	$18.31K	USD	5 Qtrs
Amortization of website development costs	`AmortizationOfIntangibleAssets`	$29.29K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$70.46K	USD	5 Qtrs
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$104.27K	USD	1 Quarter
Stock issued for director fees	`OtherNoncashExpense`	$8.71K	USD	1 Quarter
Stock issued for director fees	`OtherNoncashExpense`	$7.36K	USD	5 Qtrs
Account receivable	`IncreaseDecreaseInAccountsReceivable`	$3.65K	USD	1 Quarter
Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-84.50K	USD	5 Qtrs
Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$36.91K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$1.26K	USD	5 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$4.09K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-70.42K	USD	5 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$91.89K	USD	1 Quarter
Accrued payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$20.37K	USD	1 Quarter
Accrued payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-9.20K	USD	5 Qtrs
Deferred officer compensation	`IncreaseDecreaseInDeferredCompensation`	$8.65K	USD	5 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$8.19K	USD	1 Quarter
Gain from sale of domain name	`GainLossOnSaleOfOtherAssets`	$-174.30K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-350.96K	USD	5 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-249.40K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-4.53K	USD	1 Quarter
Purchases of intangible assets - domain names	`FairValueOfAssetsAcquired`	$-190.00	USD	5 Qtrs
Purchases of intangible assets - domain names	`FairValueOfAssetsAcquired`	$-1.61K	USD	1 Quarter
Proceeds from sale of domain name	`ProceedsFromSaleOfIntangibleAssets`	$175.00K	USD	1 Quarter
Net cash provided from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$168.87K	USD	1 Quarter
Net cash provided from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-190.00	USD	5 Qtrs
Payments received on stockholder subscription receivables	`ProceedsFromContributedCapital`	$123.00K	USD	5 Qtrs
Payments received on stockholder subscription receivables	`ProceedsFromContributedCapital`	$50.00K	USD	1 Quarter
Proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$418.11K	USD	5 Qtrs
Proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$75.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$125.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$541.11K	USD	5 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$189.95K	USD	5 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$44.47K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`Cash`	$293.26K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$103.31K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$221.90K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$293.26K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$103.31K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$221.90K	USD	Point-in-time

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