10-K Filing

DIGITALTOWN, INC. CIK: 1065598 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001056520-16-000256`
Period End Date	20160229
Filing Date	20160606
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	dgtw-20160229.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 28 Cash Flow Statement 56 Stockholders Equity 27

Balance Sheet 42 line items

Line Item	Tag	Value	Unit	Period
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
Cash	`Cash`	$134.47K	USD	Point-in-time
Common stock, $0.01 par value, shares issued and outstanding	`CommonStockSharesIssued`	41.46M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$447.00	USD	Point-in-time
Common stock, $0.01 par value, shares issued and outstanding	`CommonStockSharesIssued`	31.14M	shares	Point-in-time
Prepaid domain name renewal fees	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$59.63K	USD	Point-in-time
Prepaid domain name renewal fees	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$21.20K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$74.74K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$155.67K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.82K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.23K	USD	Point-in-time
Total assets	`Assets`	$157.90K	USD	Point-in-time
Total assets	`Assets`	$80.55K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$73.37K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$152.65K	USD	Point-in-time
Accounts payable related parties	`AccountsPayableRelatedPartiesCurrent`	$61.28K	USD	Point-in-time
Accounts payable related parties	`AccountsPayableRelatedPartiesCurrent`	$4.27K	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 expense	`OtherAccruedLiabilitiesNoncurrent`	$549.00	USD	Point-in-time
Accrued expense	`OtherAccruedLiabilitiesNoncurrent`	$95.80K	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`	$641.77K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$173.43K	USD	Point-in-time
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 41,461,543 and 31,138,422 shares issued and outstanding at February 29, 2016 and 2015, respectively	`CommonStockParOrStatedValuePerShare`	$414.62K	USD	Point-in-time
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 41,461,543 and 31,138,422 shares issued and outstanding at February 29, 2016 and 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`	$30.97M	USD	Point-in-time
Stock payable	`CommonStockSharesSubscriptions`	$11.50K	USD	Point-in-time
Stock payable	`CommonStockSharesSubscriptions`	$37.50K	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$-625.48K	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$-12.15K	USD	Point-in-time
Accumulated deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$-31.42M	USD	Point-in-time
Accumulated deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$-28.87M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-15.53K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-561.22K	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$80.55K	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$157.90K	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$839.00	USD	Annual
Revenues	`Revenues`	$1.60K	USD	Annual
Cost of revenues	`CostOfRevenue`	$178.74K	USD	Annual
Cost of revenues	`CostOfRevenue`	$255.93K	USD	Annual
Gross loss	`ProfitLoss`	$-177.14K	USD	Annual
Gross loss	`ProfitLoss`	$-255.09K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.03M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$498.57K	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperations`	$-675.71K	USD	Annual
Loss from operations	`IncomeLossFromContinuingOperations`	$-2.28M	USD	Annual
Gain on settlement of accounts payable	`GainLossOnNonRecourseDebt`	-	USD	Annual
Gain on settlement of accounts payable	`GainLossOnNonRecourseDebt`	$28.02K	USD	Annual
Loss on conversion of accrued salary to common shares	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	Annual
Loss on conversion of accrued salary to common shares	`GainLossOnDerivativeInstrumentsNetPretax`	$-293.63K	USD	Annual
Interest expense	`AmortizationOfFinancingCosts`	$-2.32K	USD	Annual
Interest expense	`AmortizationOfFinancingCosts`	-	USD	Annual
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$-2.32K	USD	Annual
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$-265.61K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-678.03K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-2.55M	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-678.03K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.55M	USD	Annual
Net loss per common share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	Annual
Net loss per common share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	Annual
Weighted average number of common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.63M	shares	Annual
Weighted average number of common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	34.16M	shares	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`OperatingIncomeLoss`	$-678.03K	USD	Annual
Net loss	`OperatingIncomeLoss`	$-2.55M	USD	Annual
Depreciation	`Depreciation`	$3.59K	USD	Annual
Depreciation	`Depreciation`	$4.12K	USD	Annual
Gain on settlement of accounts payable	`DebtInstrumentDecreaseForgiveness`	$-28.02K	USD	Annual
Gain on settlement of accounts payable	`DebtInstrumentDecreaseForgiveness`	-	USD	Annual
Loss on settlement of deferred officer compensation	`DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1`	-	USD	Annual
Loss on settlement of deferred officer compensation	`DefinedBenefitPlanRecognizedNetGainLossDueToSettlements1`	$293.63K	USD	Annual
Imputed interest	`ReceivablesWithImputedInterestAmortizationAmount`	-	USD	Point-in-time
Stock based compensation	`ShareBasedCompensation`	$190.25K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$1.45M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$447.00	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-447.00	USD	Annual
Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidExpensesOther`	$-12.06K	USD	Annual
Prepaid domain name renewal fees	`IncreaseDecreaseInPrepaidExpensesOther`	$38.43K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-51.26K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$22.44K	USD	Annual
Accounts payable related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-57.01K	USD	Annual
Accounts payable related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$58.22K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$49.00	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$95.25K	USD	Annual
Deferred officer compensation	`IncreaseDecreaseInDeferredCompensation`	$108.79K	USD	Annual
Deferred officer compensation	`IncreaseDecreaseInDeferredCompensation`	$119.10K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-294.04K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-700.44K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Proceeds from notes payable related party	`ProceedsFromRepaymentsOfNotesPayable`	$85.00K	USD	Annual
Proceeds from notes payable related party	`ProceedsFromRepaymentsOfNotesPayable`	$15.00K	USD	Annual
Payments on notes payable related party	`RepaymentsOfRelatedPartyDebt`	$-10.00K	USD	Annual
Payments on notes payable related party	`RepaymentsOfRelatedPartyDebt`	$-90.00K	USD	Annual
Proceeds from related parties payable	`ProceedsFromNotesPayable`	-	USD	Annual
Proceeds from related parties payable	`ProceedsFromNotesPayable`	$1.20K	USD	Annual
Payments received on stockholder subscriptions receivable	`ProceedsFromOtherEquity`	$15.91K	USD	Annual
Payments received on stockholder subscriptions receivable	`ProceedsFromOtherEquity`	-	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$166.00K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$895.25K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$258.11K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$820.25K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$119.81K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-35.93K	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$134.47K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$14.66K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$14.66K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$134.47K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$14.66K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$14.66K	USD	Point-in-time
Issuance of common stock for stock payable	`ProceedsFromStockPlans`	$11.50K	USD	Annual
Conversion of accounts payable to common shares	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Conversion of accounts payable to common shares	`DebtConversionConvertedInstrumentAmount1`	$26.70K	USD	Annual
Settlement of deferred officer accrued compensation with stock receivable	`IncreaseDecreaseDueFromOfficersAndStockholders`	-	USD	Annual
Settlement of deferred officer accrued compensation with stock receivable	`IncreaseDecreaseDueFromOfficersAndStockholders`	$331.85K	USD	Annual
Common stock issued into escrow	`NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1`	-	USD	Annual
Common stock issued into escrow	`NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1`	$7.50K	USD	Annual
Conversion of accrued salary into common shares related party	`EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions`	$129.23K	USD	Annual
Conversion of accrued salary into common shares related party	`EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions`	-	USD	Annual

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Common stock issued for cash	`StockIssuedDuringPeriodValueIssuedForCash`	$895.25K	USD	Annual
Common stock issued for cash	`StockIssuedDuringPeriodValueIssuedForCash`	-	USD	Annual
Common stock issued for cash	`StockIssuedDuringPeriodValueIssuedForCash`	$166.00K	USD	Annual
Common stock issued for cash, in shares	`StockIssuedDuringPeriodSharesIssuedForCash`	0.00	shares	Annual
Common stock issued into escrow	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Common stock issued into escrow	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Common stock issued into escrow, in shares	`StockIssuedDuringPeriodSharesAcquisitions`	0.00	shares	Annual
Common stock and warrants issued for coversion of accrued salary- related party	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$129.23K	USD	Annual
Common stock and warrants issued for coversion of accrued salary- related party	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	-	USD	Annual
Payments received on subscription agreements	`ProceedsFromIssuanceOrSaleOfEquity`	$15.91K	USD	Annual
Payments received on subscription agreements	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	Annual
Stock-based compensation	`StockGrantedDuringPeriodValueSharebasedCompensation`	$1.45M	USD	Annual
Stock-based compensation	`StockGrantedDuringPeriodValueSharebasedCompensation`	$190.25K	USD	Annual
Stock-based compensation	`StockGrantedDuringPeriodValueSharebasedCompensation`	-	USD	Annual
Settlement of deferred salary to stock receivable - related party	`DeferredCompensationArrangementWithIndividualFairValueOfSharesIssued`	-	USD	Annual
Settlement of deferred salary to stock receivable - related party	`DeferredCompensationArrangementWithIndividualFairValueOfSharesIssued`	$625.48K	USD	Annual
Common stock issued for conversion of accounts payable	`StockIssuedDuringPeriodValueOther`	-	USD	Annual
Common stock issued for conversion of accounts payable	`StockIssuedDuringPeriodValueOther`	$26.70K	USD	Annual
Common stock issued for conversion of accounts payable	`StockIssuedDuringPeriodValueOther`	-	USD	Annual
Inputed interest on accounts payable - related party	`GuarantyFeeIncome`	$2.32K	USD	Annual
Inputed interest on accounts payable - related party	`GuarantyFeeIncome`	-	USD	Annual
Net Loss	`NetIncomeLossAvailableToCommonStockholdersDiluted`	-	USD	Annual
Net Loss	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-2.55M	USD	Annual
Net Loss	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$-678.03K	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-15.53K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-284.36K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-561.22K	USD	Point-in-time

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