10-Q Filing

DIGITALTOWN, INC. CIK: 1065598 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001056520-13-000019`
Period End Date	20121130
Filing Date	20130114
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	dgtw-20121130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 48 Cash Flow Statement 57

Balance Sheet 42 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$508.00K	USD	Point-in-time
Cash	`Cash`	$221.90K	USD	Point-in-time
Cash	`Cash`	$103.31K	USD	Point-in-time
Cash	`Cash`	$18.45K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.31K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$9.22K	USD	Point-in-time
Current portion of prepaid domain name renewal fees	`PrepaidExpenseAndOtherAssets`	$84.67K	USD	Point-in-time
Current portion of prepaid domain name renewal fees	`PrepaidExpenseAndOtherAssets`	$155.80K	USD	Point-in-time
Prepaid expenses	`PrepaidExpense`	$4.32K	USD	Point-in-time
Prepaid expenses	`PrepaidExpense`	$6.97K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$393.90K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$108.76K	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`	$25.66K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$20.50K	USD	Point-in-time
Intangible assets, net	`OtherIntangibleAssetsNet`	$1.03M	USD	Point-in-time
Intangible assets, net	`OtherIntangibleAssetsNet`	$1.08M	USD	Point-in-time
Total assets	`Assets`	$1.51M	USD	Point-in-time
Total assets	`Assets`	$1.16M	USD	Point-in-time
Accounts payable	`AccountsPayable`	$26.95K	USD	Point-in-time
Accounts payable	`AccountsPayable`	$145.98K	USD	Point-in-time
Advance from director/stockholder	`RelatedPartyTransactionDueFromToRelatedParty`	$31.45K	USD	Point-in-time
Loan from director/stockholder	`OtherLoansPayable`	$25.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$6.03K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$15.98K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$4.47K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$7.62K	USD	Point-in-time
Deferred officer compensation	`AccruedSalariesCurrent`	$84.62K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.45K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$310.65K	USD	Point-in-time
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 29,165,599 and 29,047,638 shares issued and outstanding at November 30, 2012 and February 29, 2012, respectively	`CommonStockParOrStatedValuePerShare`	$290.47K	USD	Point-in-time
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 29,165,599 and 29,047,638 shares issued and outstanding at November 30, 2012 and February 29, 2012, respectively	`CommonStockParOrStatedValuePerShare`	$291.60K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$26.77M	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`	$-1.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$845.07K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.47M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.16M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.51M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$16.05K	USD	1 Quarter
Revenues	`Revenues`	$7.15K	USD	1 Quarter
Revenues	`Revenues`	$137.19K	USD	3 Qtrs
Revenues	`Revenues`	$17.68K	USD	7 Qtrs
Cost of revenues	`CostOfRevenue`	$368.87K	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$113.14K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$72.85K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$203.36K	USD	7 Qtrs
Gross profit (loss)	`GrossProfit`	$-185.68K	USD	7 Qtrs
Gross profit (loss)	`GrossProfit`	$-331.68K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$-97.56K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-65.69K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$883.19K	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$162.85K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.22M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.74M	USD	7 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-260.41K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-3.29M	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-1.21M	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-3.93M	USD	7 Qtrs
Interest expense	`InterestExpense`	$-255.00	USD	1 Quarter
Interest expense	`InterestExpense`	$-255.00	USD	3 Qtrs
Interest expense	`InterestExpense`	$-3.63K	USD	7 Qtrs
Interest expense	`InterestExpense`	$-3.00	USD	1 Quarter
Other income	`OtherIncome`	$285.00	USD	7 Qtrs
Other income	`OtherIncome`	$174.92K	USD	3 Qtrs
Other income	`OtherIncome`	$209.00	USD	1 Quarter
Other income	`OtherIncome`	$51.00	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$-204.00	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$206.00	USD	1 Quarter
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$-3.35K	USD	7 Qtrs
Total other income (expense)	`OtherOperatingIncomeExpenseNet`	$174.66K	USD	3 Qtrs
Net loss before income tax	`OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecrease`	$-3.29M	USD	1 Quarter
Net loss before income tax	`OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecrease`	$-3.93M	USD	7 Qtrs
Net loss before income tax	`OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecrease`	$-260.61K	USD	1 Quarter
Net loss before income tax	`OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecrease`	$-1.04M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.93M	USD	7 Qtrs
Net loss	`NetIncomeLoss`	$-260.61K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.29M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.04M	USD	3 Qtrs
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.11	USD	1 Quarter
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	1 Quarter
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.04	USD	3 Qtrs
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.14	USD	7 Qtrs
Weighted average common shares outstanding - basic and diluted	`EarningsPerShareBasicAndDiluted`	$29.14M	USD	3 Qtrs
Weighted average common shares outstanding - basic and diluted	`EarningsPerShareBasicAndDiluted`	$29.17M	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`EarningsPerShareBasicAndDiluted`	$28.63M	USD	7 Qtrs
Weighted average common shares outstanding - basic and diluted	`EarningsPerShareBasicAndDiluted`	$29.01M	USD	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-3.93M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-1.04M	USD	3 Qtrs
Depreciation	`Depreciation`	$7.54K	USD	3 Qtrs
Depreciation	`Depreciation`	$9.68K	USD	3 Qtrs
Amortization of website development costs	`AmortizationOfIntangibleAssets`	$84.60K	USD	3 Qtrs
Amortization of website development costs	`AmortizationOfIntangibleAssets`	$54.93K	USD	3 Qtrs
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$3.21M	USD	3 Qtrs
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition`	$120.81K	USD	3 Qtrs
Stock issued for director fees	`OtherNoncashExpense`	$17.11K	USD	3 Qtrs
Stock issued for director fees	`OtherNoncashExpense`	$22.36K	USD	3 Qtrs
Stock issued for executive compensation	`AllocatedShareBasedCompensationExpense`	$500.00	USD	3 Qtrs
Account receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.00K	USD	3 Qtrs
Account receivable	`IncreaseDecreaseInAccountsReceivable`	$7.91K	USD	3 Qtrs
Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-47.19K	USD	3 Qtrs
Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$81.16K	USD	3 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$14.44K	USD	3 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$2.65K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-276.54K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$119.03K	USD	3 Qtrs
Accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$7.95K	USD	3 Qtrs
Advance from director/stockholder	`IncreaseDecreaseInNotesPayableRelatedParties`	$23.50K	USD	3 Qtrs
Accrued payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$3.15K	USD	3 Qtrs
Accrued payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.93K	USD	3 Qtrs
Deferred officer compensation	`IncreaseDecreaseInDeferredCompensation`	$-50.29K	USD	3 Qtrs
Deferred officer compensation	`IncreaseDecreaseInDeferredCompensation`	$84.62K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$9.95K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$5.00K	USD	3 Qtrs
Gain from sale of domain name	`GainLossOnSaleOfOtherAssets`	$-174.30K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-641.88K	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`	$-4.53K	USD	3 Qtrs
Purchase of intangible assets - website development	`BusinessDevelopment`	$-30.00K	USD	3 Qtrs
Purchase of intangible assets - website development	`BusinessDevelopment`	$-9.02K	USD	3 Qtrs
Purchase of intangible assets - domain names	`FairValueOfAssetsAcquired`	$-2.56K	USD	3 Qtrs
Purchase of intangible assets - domain names	`FairValueOfAssetsAcquired`	$-23.52K	USD	3 Qtrs
Proceeds from sale of domain name	`ProceedsFromSaleOfIntangibleAssets`	$175.00K	USD	3 Qtrs
Net cash provided (used) from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$137.93K	USD	3 Qtrs
Net cash provided (used) from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-46.45K	USD	3 Qtrs
Proceeds from loan - director/stockholder	`ProceedsFromRelatedPartyDebt`	$25.00K	USD	3 Qtrs
Payments on loan - director/stockholder	`PaymentsForLoans`	$-137.09K	USD	3 Qtrs
Payments received on stockholder subscription receivables	`ProceedsFromContributedCapital`	$123.00K	USD	3 Qtrs
Payments received on stockholder subscription receivables	`ProceedsFromContributedCapital`	$200.50K	USD	3 Qtrs
Proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$75.00K	USD	3 Qtrs
Proceeds from issuance of stock	`ProceedsFromIssuanceOfCommonStock`	$1.46M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$300.50K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.44M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$404.69K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-203.45K	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`Cash`	$508.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`Cash`	$221.90K	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`	$18.45K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$508.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`Cash`	$221.90K	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`	$18.45K	USD	Point-in-time

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