10-Q Filing

DIGITALTOWN, INC. CIK: 1065598 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001056520-16-000196`
Period End Date	20151130
Filing Date	20160114
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	dgtw-20151130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 60 Cash Flow Statement 54

Balance Sheet 42 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$5.26K	USD	Point-in-time
Cash	`Cash`	$14.66K	USD	Point-in-time
Common stock, $0.01 par value, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, $0.01 par value, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, $0.01 par value, shares issued and outstanding	`CommonStockSharesIssued`	31.14M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$446.00	USD	Point-in-time
Common stock, $0.01 par value, shares issued and outstanding	`CommonStockSharesIssued`	33.65M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.96K	USD	Point-in-time
Prepaid domain name renewal fees	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$57.57K	USD	Point-in-time
Prepaid domain name renewal fees	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$59.63K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$64.79K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$74.74K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.11K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.82K	USD	Point-in-time
Total assets	`Assets`	$67.90K	USD	Point-in-time
Total assets	`Assets`	$80.55K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$152.65K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$135.66K	USD	Point-in-time
Accounts payable related parties	`AccountsPayableRelatedPartiesCurrent`	$61.28K	USD	Point-in-time
Accounts payable related parties	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Notes payable-related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$75.00K	USD	Point-in-time
Notes payable-related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	-	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$74.04K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$549.00	USD	Point-in-time
Deferred officer compensation	`DeferredCompensationArrangementWithIndividualRecordedLiability`	$352.29K	USD	Point-in-time
Deferred officer compensation	`DeferredCompensationArrangementWithIndividualRecordedLiability`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$641.77K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$209.69K	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 November 30, 2015 and February 28, 2015, respectively	`CommonStockParOrStatedValuePerShare`	$336.46K	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 November 30, 2015 and February 28, 2015, respectively	`CommonStockParOrStatedValuePerShare`	$311.38K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$28.61M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$29.76M	USD	Point-in-time
Stock payable	`CommonStockSharesSubscriptions`	$11.50K	USD	Point-in-time
Stock payable	`CommonStockSharesSubscriptions`	-	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	-	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$-625.48K	USD	Point-in-time
Accumulated deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$-30.24M	USD	Point-in-time
Accumulated deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$-28.87M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-561.22K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-141.79K	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$67.90K	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$80.55K	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.81K	USD	3 Qtrs
Revenues	`Revenues`	$824.00	USD	1 Quarter
Revenues	`Revenues`	$618.00	USD	1 Quarter
Revenues	`Revenues`	$935.00	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$84.89K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$135.11K	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$42.54K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$171.97K	USD	3 Qtrs
Gross profit (loss)	`ProfitLoss`	$-134.18K	USD	3 Qtrs
Gross profit (loss)	`ProfitLoss`	$-41.92K	USD	1 Quarter
Gross profit (loss)	`ProfitLoss`	$-84.06K	USD	1 Quarter
Gross profit (loss)	`ProfitLoss`	$-168.16K	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$932.90K	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$296.38K	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$282.67K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$41.14K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-430.56K	USD	3 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-366.73K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-83.06K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-1.10M	USD	3 Qtrs
Gain on settlement of accounts payable	`GainLossOnNonRecourseDebt`	-	USD	1 Quarter
Gain on settlement of accounts payable	`GainLossOnNonRecourseDebt`	-	USD	1 Quarter
Gain on settlement of accounts payable	`GainLossOnNonRecourseDebt`	$28.02K	USD	3 Qtrs
Gain on settlement of accounts payable	`GainLossOnNonRecourseDebt`	-	USD	3 Qtrs
Interest expense	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Interest expense	`AmortizationOfFinancingCosts`	$-2.20K	USD	1 Quarter
Interest expense	`AmortizationOfFinancingCosts`	$-6.56K	USD	3 Qtrs
Interest expense	`AmortizationOfFinancingCosts`	-	USD	3 Qtrs
Loss on conversion of deferred officer compensation into equity	`GainLossOnDerivativeInstrumentsNetPretax`	$-293.63K	USD	3 Qtrs
Loss on conversion of deferred officer compensation into equity	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Loss on conversion of deferred officer compensation into equity	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	3 Qtrs
Loss on conversion of deferred officer compensation into equity	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Other income	`OtherIncome`	$803.00	USD	3 Qtrs
Other income	`OtherIncome`	-	USD	3 Qtrs
Other income	`OtherIncome`	-	USD	1 Quarter
Other income	`OtherIncome`	$750.00	USD	1 Quarter
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$-1.45K	USD	1 Quarter
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	-	USD	1 Quarter
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$-265.61K	USD	3 Qtrs
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$-5.75K	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-366.73K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-84.51K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.37M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-436.31K	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-1.37M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-366.73K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-84.51K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-436.31K	USD	3 Qtrs
Net loss per common share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	1 Quarter
Net loss per common share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
Net loss per common share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	3 Qtrs
Net loss per common share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.04	USD	3 Qtrs
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.53M	shares	3 Qtrs
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33.65M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.98M	shares	3 Qtrs
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.70M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`OperatingIncomeLoss`	$-1.37M	USD	3 Qtrs
Net loss	`OperatingIncomeLoss`	$-436.31K	USD	3 Qtrs
Depreciation	`Depreciation`	$2.70K	USD	3 Qtrs
Depreciation	`Depreciation`	$3.19K	USD	3 Qtrs
Gain on settlement of accounts payable	`DebtInstrumentDecreaseForgiveness`	-	USD	3 Qtrs
Gain on settlement of accounts payable	`DebtInstrumentDecreaseForgiveness`	$-28.02K	USD	3 Qtrs
Loss on settlement of deferred officer compensation	`DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1`	-	USD	3 Qtrs
Loss on settlement of deferred officer compensation	`DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1`	$293.63K	USD	3 Qtrs
Imputed interest	`GuarantyFeeIncome`	-	USD	3 Qtrs
Imputed interest	`GuarantyFeeIncome`	$6.56K	USD	3 Qtrs
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$67.85K	USD	3 Qtrs
Stock-based compensation expense	`AllocatedShareBasedCompensationExpense`	$543.87K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.51K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-285.00	USD	3 Qtrs
Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidExpensesOther`	$-27.87K	USD	3 Qtrs
Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidExpensesOther`	$2.06K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$17.30K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$11.03K	USD	3 Qtrs
Accounts payable related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$40.11K	USD	3 Qtrs
Accounts payable related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-61.28K	USD	3 Qtrs
Accrued payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$522.00	USD	3 Qtrs
Accrued payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$73.49K	USD	3 Qtrs
Deferred officer compensation	`IncreaseDecreaseInDeferredCompensation`	$-20.44K	USD	3 Qtrs
Deferred officer compensation	`IncreaseDecreaseInDeferredCompensation`	$98.20K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-551.15K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-230.75K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Proceeds from note payable - related party	`ProceedsFromRelatedPartyDebt`	-	USD	3 Qtrs
Proceeds from note payable - related party	`ProceedsFromRelatedPartyDebt`	$15.00K	USD	3 Qtrs
Proceeds from related party payable	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Proceeds from related party payable	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$80.00K	USD	3 Qtrs
Payments on notes payable - related party	`RepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Payments on notes payable - related party	`RepaymentsOfRelatedPartyDebt`	$-90.00K	USD	3 Qtrs
Payments received on stockholder subscriptions receivable	`ProceedsFromOtherEquity`	$14.26K	USD	3 Qtrs
Payments received on stockholder subscriptions receivable	`ProceedsFromOtherEquity`	-	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$616.75K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$87.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$181.26K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$541.75K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-49.49K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.40K	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.66K	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`	$5.26K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.10K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.66K	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`	$5.26K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.10K	USD	Point-in-time
Issuance of common stock for stock payable	`ProceedsFromIssuanceOrSaleOfEquity`	$11.50K	USD	3 Qtrs
Issuance of common stock for stock payable	`ProceedsFromIssuanceOrSaleOfEquity`	$26.70K	USD	3 Qtrs
Settlement of deferred officer accrued compensation with stock receivable	`IncreaseDecreaseDueFromOfficersAndStockholders`	-	USD	3 Qtrs
Settlement of deferred officer accrued compensation with stock receivable	`IncreaseDecreaseDueFromOfficersAndStockholders`	$331.85K	USD	3 Qtrs

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