10-Q Filing

DIGITALTOWN, INC. CIK: 1065598 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001056520-15-000103`
Period End Date	20150531
Filing Date	20150714
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	dgtw-20150531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 28 Cash Flow Statement 48

Balance Sheet 42 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$14.66K	USD	Point-in-time
Cash	`Cash`	$233.08K	USD	Point-in-time
Common stock, $0.01 par value, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, $0.01 par value, authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, $0.01 par value, issued and outstanding	`CommonStockSharesIssued`	33.65M	shares	Point-in-time
Common stock, $0.01 par value, issued and outstanding	`CommonStockSharesIssued`	31.14M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$383.00	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$447.00	USD	Point-in-time
Prepaid domain name renewal fees	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$59.63K	USD	Point-in-time
Prepaid domain name renewal fees	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$146.65K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$380.11K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$74.74K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.88K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.82K	USD	Point-in-time
Total assets	`Assets`	$80.55K	USD	Point-in-time
Total assets	`Assets`	$385.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$75.68K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$152.65K	USD	Point-in-time
Accounts payable related parties	`AccountsPayableRelatedPartiesCurrent`	$1.72K	USD	Point-in-time
Accounts payable related parties	`AccountsPayableRelatedPartiesCurrent`	$61.28K	USD	Point-in-time
Notes payable-related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	-	USD	Point-in-time
Notes payable-related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$75.00K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$549.00	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$15.54K	USD	Point-in-time
Deferred officer compensation	`DeferredCompensationArrangementWithIndividualRecordedLiability`	-	USD	Point-in-time
Deferred officer compensation	`DeferredCompensationArrangementWithIndividualRecordedLiability`	$352.29K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$92.94K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$641.77K	USD	Point-in-time
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 33,646,422 and 31,138,422 shares issued and outstanding at May 31, 2015 and February 28, 2015, respectively	`CommonStockParOrStatedValuePerShare`	$311.38K	USD	Point-in-time
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 33,646,422 and 31,138,422 shares issued and outstanding at May 31, 2015 and February 28, 2015, respectively	`CommonStockParOrStatedValuePerShare`	$336.46K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$28.61M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$29.57M	USD	Point-in-time
Stock payable	`CommonStockSharesSubscriptions`	$11.50K	USD	Point-in-time
Stock payable	`CommonStockSharesSubscriptions`	-	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$-625.48K	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	-	USD	Point-in-time
Accumulated deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$-28.87M	USD	Point-in-time
Accumulated deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$-29.61M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$292.05K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-561.22K	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$385.00K	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$80.55K	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$583.00	USD	Annual
Revenues	`Revenues`	$200.00	USD	Annual
Cost of revenues	`CostOfRevenue`	$45.62K	USD	Annual
Cost of revenues	`CostOfRevenue`	$39.53K	USD	Annual
Gross profit (loss)	`ProfitLoss`	$-45.42K	USD	Annual
Gross profit (loss)	`ProfitLoss`	$-38.95K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$134.87K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$434.65K	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperations`	$-473.61K	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperations`	$-180.29K	USD	Annual
Gain on settlement of accounts payable	`GainLossOnNonRecourseDebt`	-	USD	Annual
Gain on settlement of accounts payable	`GainLossOnNonRecourseDebt`	$26.90K	USD	Annual
Loss on conversion of deferred officer compensation into equity	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	Annual
Loss on conversion of deferred officer compensation into equity	`GainLossOnDerivativeInstrumentsNetPretax`	$-293.63K	USD	Annual
Other income	`OtherIncome`	$53.00	USD	Annual
Other income	`OtherIncome`	-	USD	Annual
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$-266.73K	USD	Annual
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$53.00	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-180.24K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-740.34K	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-740.34K	USD	Annual
Net loss	`NetIncomeLoss`	$-180.24K	USD	Annual
Net loss per common share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	Annual
Net loss per common share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	Annual
Weighted average number of common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.43M	shares	Annual
Weighted average number of common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.66M	shares	Annual

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`OperatingIncomeLoss`	$-180.24K	USD	Annual
Net loss	`OperatingIncomeLoss`	$-740.34K	USD	Annual
Depreciation	`Depreciation`	$1.14K	USD	Annual
Depreciation	`Depreciation`	$933.00	USD	Annual
Gain on settlement of accounts payable	`DebtInstrumentDecreaseForgiveness`	-	USD	Annual
Gain on settlement of accounts payable	`DebtInstrumentDecreaseForgiveness`	$-26.90K	USD	Annual
Loss on settlement of deferred officer compensation	`DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1`	-	USD	Annual
Loss on settlement of deferred officer compensation	`DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1`	$293.63K	USD	Annual
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$59.42K	USD	Annual
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$351.37K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$64.00	USD	Annual
Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidExpensesOther`	$-80.41K	USD	Annual
Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidExpensesOther`	$-87.02K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.98K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-50.06K	USD	Annual
Accounts payable related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$35.64K	USD	Annual
Accounts payable related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-59.56K	USD	Annual
Accrued payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$477.00	USD	Annual
Accrued payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$14.99K	USD	Annual
Deferred officer compensation	`IncreaseDecreaseInDeferredCompensation`	$37.50K	USD	Annual
Deferred officer compensation	`IncreaseDecreaseInDeferredCompensation`	$-20.44K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-323.33K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-128.46K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Proceeds from note payable -related party	`ProceedsFromRelatedPartyDebt`	$75.00K	USD	Annual
Proceeds from note payable -related party	`ProceedsFromRelatedPartyDebt`	$15.00K	USD	Annual
Payments on notes payable -related party	`RepaymentsOfRelatedPartyDebt`	$-90.00K	USD	Annual
Payments on notes payable -related party	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Payments received on stockholder subscriptions receivable	`ProceedsFromOtherEquity`	-	USD	Annual
Payments received on stockholder subscriptions receivable	`ProceedsFromOtherEquity`	$5.00K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$616.75K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$5.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$85.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$541.75K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$218.42K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-43.45K	USD	Annual
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.13K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$50.59K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$233.08K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.13K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$50.59K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$233.08K	USD	Point-in-time
Issuance of common stock for stock payable	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	Annual
Issuance of common stock for stock payable	`ProceedsFromIssuanceOrSaleOfEquity`	$11.50K	USD	Annual
Settlement of deferred officer accrued compensation with stock receivable	`IncreaseDecreaseDueFromOfficersAndStockholders`	$331.85K	USD	Annual
Settlement of deferred officer accrued compensation with stock receivable	`IncreaseDecreaseDueFromOfficersAndStockholders`	-	USD	Annual

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