10-Q Filing

DIGITALTOWN, INC. CIK: 1065598 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001056520-17-000047`
Period End Date	20170531
Filing Date	20170717
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	dgtw-20170531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 22 Cash Flow Statement 46

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$539.24K	USD	Point-in-time
Common stock, $0.01 par value, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Cash	`Cash`	$42.92K	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 issued and outstanding	`CommonStockSharesIssued`	57.86M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$7.92K	USD	Point-in-time
Common stock, $0.01 par value, shares issued and outstanding	`CommonStockSharesIssued`	52.61M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$25.61K	USD	Point-in-time
Prepaid domain name renewal fees	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$105.78K	USD	Point-in-time
Prepaid domain name renewal fees	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$138.95K	USD	Point-in-time
Other Prepaid expenses	`OtherPrepaidExpenseCurrent`	$21.20K	USD	Point-in-time
Other Prepaid expenses	`OtherPrepaidExpenseCurrent`	$15.04K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$204.83K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$691.83K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.81K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$26.93K	USD	Point-in-time
Total assets	`Assets`	$693.64K	USD	Point-in-time
Total assets	`Assets`	$231.76K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$166.85K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$148.92K	USD	Point-in-time
Accounts payable related parties	`AccountsPayableRelatedPartiesCurrent`	$10.61K	USD	Point-in-time
Accounts payable related parties	`AccountsPayableRelatedPartiesCurrent`	$9.85K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$345.61K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$190.00K	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$260.90K	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesCurrent`	$280.90K	USD	Point-in-time
Convertible note payable related party	`ConvertibleNotesPayableCurrent`	$400.00K	USD	Point-in-time
Convertible note payable related party	`ConvertibleNotesPayableCurrent`	$400.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.05M	USD	Point-in-time
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 57,856,000 and 52,606,000 shares issued and outstanding at May 31, 2017 and February 28, 2017, respectively	`CommonStockParOrStatedValuePerShare`	$578.56K	USD	Point-in-time
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 57,856,000 and 52,606,000 shares issued and outstanding at May 31, 2017 and February 28, 2017, respectively	`CommonStockParOrStatedValuePerShare`	$526.06K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$34.33M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$35.80M	USD	Point-in-time
Stock payable	`CommonStockSharesSubscriptions`	$3.43M	USD	Point-in-time
Stock payable	`CommonStockSharesSubscriptions`	$2.43M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$5.40K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.87K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-38.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-39.74M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-354.72K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-933.52K	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$231.76K	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$693.64K	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$30.00	USD	1 Quarter
Revenues	`Revenues`	$80.27K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$98.61K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$104.68K	USD	1 Quarter
Gross loss	`GrossProfit`	$-104.65K	USD	1 Quarter
Gross loss	`GrossProfit`	$-18.34K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$510.42K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.07M	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-615.07K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-1.09M	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$9.72K	USD	1 Quarter
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$9.72K	USD	1 Quarter
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	-	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-615.07K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.10M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	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`	$-0.02	USD	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	41.46M	shares	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55.06M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`OperatingIncomeLoss`	$-1.10M	USD	1 Quarter
Net loss	`OperatingIncomeLoss`	$-615.07K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.30K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$885.00	USD	1 Quarter
Imputed interest	`DGTW_ImputedInterest`	-	USD	1 Quarter
Imputed interest	`DGTW_ImputedInterest`	$10.35K	USD	1 Quarter
Stock based compensation	`EmployeeBenefitsAndShareBasedCompensation`	$312.17K	USD	1 Quarter
Stock based compensation	`EmployeeBenefitsAndShareBasedCompensation`	$346.07K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$17.69K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-10.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$6.20K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-27.01K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-17.93K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.29K	USD	1 Quarter
Accounts payable related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	1 Quarter
Accounts payable related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-765.00	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-20.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$155.61K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$70.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-225.52K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-635.92K	USD	1 Quarter
Cash paid for equipment	`PaymentsToAcquireMachineryAndEquipment`	-	USD	1 Quarter
Cash paid for equipment	`PaymentsToAcquireMachineryAndEquipment`	$26.42K	USD	1 Quarter
Cash paid for Cloud.Market	`CashPaidCloudMarket`	$-7.50K	USD	1 Quarter
Cash paid for Cloud.Market	`CashPaidCloudMarket`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-26.42K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.50K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$162.50K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$539.50K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$162.50K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$539.50K	USD	1 Quarter
Foreign currency translation adjustment	`GoodwillForeignCurrencyTranslationGainLoss`	$3.53K	USD	1 Quarter
Foreign currency translation adjustment	`GoodwillForeignCurrencyTranslationGainLoss`	-	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-496.32K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$306.48K	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$539.24K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$440.95K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$134.47K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$42.92K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$539.24K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$440.95K	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`	$42.92K	USD	Point-in-time
Issuance of common stock for stock payable	`ProceedsFromStockPlans`	-	USD	1 Quarter
Issuance of common stock for stock payable	`ProceedsFromStockPlans`	$1.51M	USD	1 Quarter

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