10-K Filing

MITESCO, INC. CIK: 802257 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001096906-13-000580`
Period End Date	20121231
Filing Date	20130416
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	tntyob-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 38 Cash Flow Statement 80 Stockholders Equity 25

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash	`Cash`	$13.72K	USD	Point-in-time
Cash	`Cash`	$123.14K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.61K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	32.64M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$2.80K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	36.13M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	32.64M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.46K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	36.13M	shares	Point-in-time
Deposits	`Deposits`	$175.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$307.39K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.34K	USD	Point-in-time
Fixtures and equipment	`FixturesAndEquipmentGross`	$178.35K	USD	Point-in-time
Fixtures and equipment	`FixturesAndEquipmentGross`	$162.01K	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$-125.62K	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$-75.36K	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentNet`	$86.64K	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentNet`	$52.73K	USD	Point-in-time
Costs incurred	`CapitalizedComputerSoftwareGross`	$2.57M	USD	Point-in-time
Costs incurred	`CapitalizedComputerSoftwareGross`	$3.11M	USD	Point-in-time
Less accumulated amortization	`CapitalizedComputerSoftwareAccumulatedAmortization`	$-2.46M	USD	Point-in-time
Less accumulated amortization	`CapitalizedComputerSoftwareAccumulatedAmortization`	$-1.80M	USD	Point-in-time
Capitalized software development costs	`CapitalizedComputerSoftwareNet`	$770.04K	USD	Point-in-time
Capitalized software development costs	`CapitalizedComputerSoftwareNet`	$650.95K	USD	Point-in-time
Debt issuance costs	`UnamortizedDebtIssuanceExpense`	$60.30K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.16M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$779.32K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$619.30K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$473.85K	USD	Point-in-time
Accrued interest and other liabilities	`AccruedLiabilitiesCurrent`	$133.24K	USD	Point-in-time
Accrued interest and other liabilities	`AccruedLiabilitiesCurrent`	$210.35K	USD	Point-in-time
Notes payable-related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$70.76K	USD	Point-in-time
Notes payable-related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$85.83K	USD	Point-in-time
Convertible note payable	`ConvertibleNotesPayableCurrent`	$49.02K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$28.27K	USD	Point-in-time
Stock subscribed	`CommonStockSharesSubscribedButUnissuedValue`	$25.00K	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$10.13K	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$5.91K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$805.15K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$906.50K	USD	Point-in-time
Deferred rent, long term portion	`DeferredRentCreditNoncurrent`	$5.91K	USD	Point-in-time
Debentures Series A and B, carrying value	`ConvertibleDebtNoncurrent`	$776.01K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$776.01K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$5.91K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.68M	USD	Point-in-time
Total Liabilities	`Liabilities`	$811.07K	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value - 50,000,000 share authorized, 36,131,432 and 32,641,953 shares issued and outstanding at December 31, 2012 and December 31, 2011, respectively.	`CommonStockValue`	$36.13K	USD	Point-in-time
Common stock, $0.001 par value - 50,000,000 share authorized, 36,131,432 and 32,641,953 shares issued and outstanding at December 31, 2012 and December 31, 2011, respectively.	`CommonStockValue`	$32.64K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$8.41M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$7.23M	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.30K	USD	Point-in-time
Deficit accumulated during development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$-6.91M	USD	Point-in-time
Deficit accumulated during development stage	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$-9.34M	USD	Point-in-time
Total Stockholders' (Deficit) Equity	`StockholdersEquity`	$353.01K	USD	Point-in-time
Total Stockholders' (Deficit) Equity	`StockholdersEquity`	$-903.19K	USD	Point-in-time
TOTAL LIABILTIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$1.16M	USD	Point-in-time
TOTAL LIABILTIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$779.32K	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$299.07K	USD	Annual
Net Sales	`SalesRevenueNet`	$648.87K	USD	14 Qtrs
Net Sales	`SalesRevenueNet`	$159.36K	USD	Annual
Cost of sales	`CostOfGoodsSold`	$104.24K	USD	Annual
Cost of sales	`CostOfGoodsSold`	$58.52K	USD	Annual
Cost of sales	`CostOfGoodsSold`	$242.63K	USD	14 Qtrs
Gross Profit	`GrossProfit`	$100.84K	USD	Annual
Gross Profit	`GrossProfit`	$194.84K	USD	Annual
Gross Profit	`GrossProfit`	$406.24K	USD	14 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$939.56K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$4.44M	USD	14 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$894.16K	USD	Annual
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$4.13M	USD	14 Qtrs
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$1.18M	USD	Annual
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$1.49M	USD	Annual
Operating Expenses	`OperatingExpenses`	$2.12M	USD	Annual
Operating Expenses	`OperatingExpenses`	$8.57M	USD	14 Qtrs
Operating Expenses	`OperatingExpenses`	$2.39M	USD	Annual
Loss From Operations	`PercentageRent`	$-1.92M	USD	Annual
Loss From Operations	`PercentageRent`	$-2.29M	USD	Annual
Loss From Operations	`PercentageRent`	$-8.17M	USD	14 Qtrs
Interest expense	`InterestExpense`	$-1.17M	USD	14 Qtrs
Interest expense	`InterestExpense`	$-466.35K	USD	Annual
Interest expense	`InterestExpense`	$-141.93K	USD	Annual
Net Loss	`NetIncomeLoss`	$-2.43M	USD	Annual
Net Loss	`NetIncomeLoss`	$-2.39M	USD	Annual
Net Loss	`NetIncomeLoss`	$-9.34M	USD	14 Qtrs
Foreign currency translation loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-8.30K	USD	Annual
Foreign currency translation loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-8.30K	USD	14 Qtrs
Total Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-8.30K	USD	Annual
Total Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-8.30K	USD	14 Qtrs
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-2.44M	USD	Annual
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-2.39M	USD	Annual
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-9.34M	USD	14 Qtrs
Net Loss per Share - Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.07	USD	Annual
Net Loss per Share - Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.08	USD	Annual
Weighted Average Number of Shares Outstanding During the Period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	35.05M	shares	Annual
Weighted Average Number of Shares Outstanding During the Period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.20M	shares	Annual

Cash Flow Statement 80 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-2.43M	USD	Annual
Net Loss	`NetIncomeLoss`	$-2.39M	USD	Annual
Net Loss	`NetIncomeLoss`	$-9.34M	USD	14 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.59M	USD	14 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$717.38K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$845.64K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$129.43K	USD	14 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$-53.34K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$122.11K	USD	Annual
Accretion for debt discounts and issuance costs	`AccretionExpense`	$79.46K	USD	Annual
Accretion for debt discounts and issuance costs	`AccretionExpense`	$79.46K	USD	14 Qtrs
Change in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.19K	USD	Annual
Change in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.20K	USD	Annual
Change in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.61K	USD	14 Qtrs
Change in Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$30.31K	USD	Annual
Change in Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.00	USD	14 Qtrs
Change in Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.46K	USD	Annual
Change in Deposits	`IncreaseDecreaseInDeposits`	$-325.00K	USD	14 Qtrs
Change in Deposits	`IncreaseDecreaseInDeposits`	$-150.00K	USD	Annual
Change in Deposits	`IncreaseDecreaseInDeposits`	$-175.00K	USD	Annual
Change in Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$19.63K	USD	Annual
Change in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$145.46K	USD	Annual
Change in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$169.82K	USD	Annual
Change in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$595.11K	USD	14 Qtrs
Change in Accrued interest and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$477.41K	USD	14 Qtrs
Change in Accrued interest and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$39.88K	USD	Annual
Change in Accrued interest and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$201.16K	USD	Annual
Change in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-78.70K	USD	Annual
Change in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$28.27K	USD	Annual
Change in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$28.27K	USD	14 Qtrs
Change in Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$5.91K	USD	14 Qtrs
Change in Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-10.14K	USD	Annual
Change in Accrued interest included in notes payable	`IncreaseDecreaseInInterestPayableNet`	$53.50K	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.76M	USD	14 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.45M	USD	Annual
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.37M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$-178.35K	USD	14 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$-70.80K	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$-16.34K	USD	Annual
Payment of platform development costs	`PaymentsToDevelopSoftware`	$-3.11M	USD	14 Qtrs
Payment of platform development costs	`PaymentsToDevelopSoftware`	$-327.10K	USD	Annual
Payment of platform development costs	`PaymentsToDevelopSoftware`	$-548.03K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.29M	USD	14 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-564.37K	USD	Annual
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-397.90K	USD	Annual
Net advances on line of credit related parties	`ProceedsFromLinesOfCredit`	$-105.99K	USD	14 Qtrs
Net advances on line of credit related parties	`ProceedsFromLinesOfCredit`	$56.37K	USD	Annual
Proceeds from notes payable related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$505.53K	USD	Annual
Proceeds from notes payable related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$3.44M	USD	14 Qtrs
Proceeds from notes payable related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$178.04K	USD	Annual
Repayments on notes payable related parties	`RepaymentOfNotesReceivableFromRelatedParties`	$-177.50K	USD	Annual
Repayments on notes payable related parties	`RepaymentOfNotesReceivableFromRelatedParties`	$-177.50K	USD	14 Qtrs
Proceeds from issuance of debenture, net issuances cost	`ProceedsFromConvertibleDebt`	$523.08K	USD	Annual
Proceeds from issuance of debenture, net issuances cost	`ProceedsFromConvertibleDebt`	$523.08K	USD	14 Qtrs
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.32M	USD	Annual
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.77M	USD	Annual
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.66M	USD	14 Qtrs
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$-40.83K	USD	2 Qtrs
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$-436.01K	USD	14 Qtrs
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$-12.16K	USD	Annual
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$-111.78K	USD	Annual
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$-271.25K	USD	Annual
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$1.90M	USD	Annual
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$7.91M	USD	14 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$1.89M	USD	Annual
Net Decrease in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.15M	USD	14 Qtrs
Net Decrease in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-109.41K	USD	Annual
Net Decrease in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$120.39K	USD	Annual
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.74K	USD	Point-in-time
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$123.14K	USD	Point-in-time
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$13.72K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.74K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$123.14K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$13.72K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$160.00K	USD	Annual
Cash paid during the period for interest	`InterestPaid`	$405.90K	USD	14 Qtrs
Conversion of debt to common stock shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$4.06M	USD	14 Qtrs
Conversion of debt to common stock shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$4.06M	USD	Annual
Issuance of stock in acquisition of subsidiary	`StockIssuedDuringPeriodValueAcquisitions`	$325.00	USD	14 Qtrs
Issuance of stock in acquisition of subsidiary	`StockIssuedDuringPeriodValueAcquisitions`	$325.00	USD	Annual

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$353.01K	USD	Point-in-time
Balance	`StockholdersEquity`	$-903.19K	USD	Point-in-time
Balance - Shares	`CommonStockSharesOutstanding`	32.64M	shares	Point-in-time
Balance - Shares	`CommonStockSharesOutstanding`	36.13M	shares	Point-in-time
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.32M	USD	Annual
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.77M	USD	Annual
Sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.66M	USD	14 Qtrs
Sale of common stock (in Shares)	`SaleOfStockNumberOfSharesIssuedInTransaction`	687,500.00	shares	1 Quarter
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$-40.83K	USD	2 Qtrs
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$-436.01K	USD	14 Qtrs
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$-12.16K	USD	Annual
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$-111.78K	USD	Annual
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$-271.25K	USD	Annual
Net Loss	`NetIncomeLoss`	$-2.43M	USD	Annual
Net Loss	`NetIncomeLoss`	$-2.39M	USD	Annual
Net Loss	`NetIncomeLoss`	$-9.34M	USD	14 Qtrs
Reverse recapitalization related to acquisition	`ReverseRecapitalizationRelatedToAcquisition`	$325.00K	USD	Annual
Reverse recapitalization related to acquisition (in Shares)	`ReverseRecapitalizationRelatedToAcquisitionInShares`	325,000.00	shares	Annual
Warrants issued for services	`WarrantsIssuedForServices`	$37.45K	USD	Annual
Foreign currency translation loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-8.30K	USD	Annual
Foreign currency translation loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-8.30K	USD	14 Qtrs
Balance	`StockholdersEquity`	$353.01K	USD	Point-in-time
Balance	`StockholdersEquity`	$-903.19K	USD	Point-in-time
Balance - Shares	`CommonStockSharesOutstanding`	32.64M	shares	Point-in-time
Balance - Shares	`CommonStockSharesOutstanding`	36.13M	shares	Point-in-time

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