10-Q Filing

MITESCO, INC. CIK: 802257 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001096906-13-000925`
Period End Date	20130331
Filing Date	20130520
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	tntyob-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 1 Cash Flow Statement 47 Stockholders Equity 11 Comprehensive Income 22

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Common stock par value	`CommonStockAdditionalSeriesParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock par value	`CommonStockAdditionalSeriesParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$31.56K	USD	Point-in-time
Cash	`Cash`	$13.72K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	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`	36.13M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	37.02M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$26.73K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	37.02M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$58.29K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.34K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	36.13M	shares	Point-in-time
Fixtures and equipment	`FixturesAndEquipmentGross`	$178.35K	USD	Point-in-time
Fixtures and equipment	`FixturesAndEquipmentGross`	$183.21K	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$-135.40K	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$-125.62K	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentNet`	$52.73K	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentNet`	$47.81K	USD	Point-in-time
Costs incurred	`CapitalizedComputerSoftwareGross`	$3.22M	USD	Point-in-time
Costs incurred	`CapitalizedComputerSoftwareGross`	$3.11M	USD	Point-in-time
Less accumulated amortization	`CapitalizedComputerSoftwareAccumulatedAmortization`	$-2.57M	USD	Point-in-time
Less accumulated amortization	`CapitalizedComputerSoftwareAccumulatedAmortization`	$-2.46M	USD	Point-in-time
Capitalized software development costs	`CapitalizedComputerSoftwareNet`	$650.95K	USD	Point-in-time
Capitalized software development costs	`CapitalizedComputerSoftwareNet`	$647.71K	USD	Point-in-time
Debt issuance costs	`UnamortizedDebtIssuanceExpense`	$60.30K	USD	Point-in-time
Debt issuance costs	`UnamortizedDebtIssuanceExpense`	$50.39K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$779.32K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$804.19K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$619.30K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$683.54K	USD	Point-in-time
Accrued interest and other liabilities	`AccruedLiabilitiesCurrent`	$133.24K	USD	Point-in-time
Accrued interest and other liabilities	`AccruedLiabilitiesCurrent`	$220.37K	USD	Point-in-time
Notes payable-related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$70.76K	USD	Point-in-time
Notes payable-related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$73.09K	USD	Point-in-time
Convertible note payable	`ConvertibleNotesPayableCurrent`	$104.27K	USD	Point-in-time
Convertible note payable	`ConvertibleNotesPayableCurrent`	$49.02K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$28.27K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$142.17K	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$5.91K	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$3.38K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$906.50K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.23M	USD	Point-in-time
Debentures Series A and B, carrying value	`ConvertibleDebtNoncurrent`	$829.29K	USD	Point-in-time
Debentures Series A and B, carrying value	`ConvertibleDebtNoncurrent`	$776.01K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$829.29K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$776.01K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.68M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.06M	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 shares authorized, 37,020,197 and 36,131,432	`CommonStockValue`	$36.13K	USD	Point-in-time
Common stock, $0.001 par value - 50,000,000 shares authorized, 37,020,197 and 36,131,432	`CommonStockValue`	$37.02K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$8.83M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$8.41M	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.77K	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.30K	USD	Point-in-time
Accumulated Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$-10.11M	USD	Point-in-time
Accumulated Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$-9.34M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.25M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-903.19K	USD	Point-in-time
TOTAL LIABILTIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$779.32K	USD	Point-in-time
TOTAL LIABILTIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$804.19K	USD	Point-in-time

Income Statement 1 line items

Line Item	Tag	Value	Unit	Period
Convertible Notes Payable	`ConvertibleNotesPayable`	$1.17M	USD	Point-in-time

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-641.83K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-773.45K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$238.65K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$120.17K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$97.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$43.12K	USD	1 Quarter
Accretion for debt discounts and issuance costs	`AccretionExpense`	$86.98K	USD	1 Quarter
Shares issued as a conversion of payables	`SharesIssuedAsAConversionOfPayables`	$57.50K	USD	1 Quarter
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$1.14K	USD	1 Quarter
Change in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-25.12K	USD	1 Quarter
Change in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$901.00	USD	1 Quarter
Change in Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.46K	USD	1 Quarter
Change in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$64.23K	USD	1 Quarter
Change in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-20.98K	USD	1 Quarter
Change in Accrued interest and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-62.84K	USD	1 Quarter
Change in Accrued interest and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$87.15K	USD	1 Quarter
Change in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$113.90K	USD	1 Quarter
Change in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$8.25K	USD	1 Quarter
Change in Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-2.53K	USD	1 Quarter
Change in Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-2.54K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-173.03K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-430.80K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$-150.00K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$-4.86K	USD	1 Quarter
Payment of platform development costs	`PaymentsToDevelopSoftware`	$-107.15K	USD	1 Quarter
Payment of platform development costs	`PaymentsToDevelopSoftware`	$-122.26K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-272.26K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-112.01K	USD	1 Quarter
Proceeds from notes payable related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$34.02K	USD	1 Quarter
Proceeds from notes payable related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$187.18K	USD	1 Quarter
Repayments on notes payable related parties	`RepaymentOfNotesReceivableFromRelatedParties`	$-14.90K	USD	1 Quarter
Proceeds from issuance of convertible note payable	`ProceedsFromConvertibleDebt`	$35.00K	USD	1 Quarter
Sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$248.75K	USD	1 Quarter
Sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$395.77K	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$582.95K	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$302.87K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-120.11K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$17.84K	USD	1 Quarter
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$31.56K	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$3.02K	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$123.14K	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$13.72K	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$31.56K	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$3.02K	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$123.14K	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$13.72K	USD	Point-in-time
Issuance of stock in acquisition of subsidiary	`StockIssuedDuringPeriodValueAcquisitions`	$325.00	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-1.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$-903.19K	USD	Point-in-time
Balance - Shares	`CommonStockSharesOutstanding`	37.02M	shares	Point-in-time
Balance - Shares	`CommonStockSharesOutstanding`	36.13M	shares	Point-in-time
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$1.14K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-641.83K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-773.45K	USD	1 Quarter
Balance	`StockholdersEquity`	$-1.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$-903.19K	USD	Point-in-time
Balance - Shares	`CommonStockSharesOutstanding`	37.02M	shares	Point-in-time
Balance - Shares	`CommonStockSharesOutstanding`	36.13M	shares	Point-in-time

Comprehensive Income 22 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$10.76K	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$24.87K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$1.38K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$12.37K	USD	1 Quarter
Gross Profit	`GrossProfit`	$12.50K	USD	1 Quarter
Gross Profit	`GrossProfit`	$9.38K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$329.61K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$338.16K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$337.07K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$313.04K	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$651.21K	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$666.68K	USD	1 Quarter
Loss From Operations	`PercentageRent`	$-641.83K	USD	1 Quarter
Loss From Operations	`PercentageRent`	$-654.18K	USD	1 Quarter
Interest expense	`InterestExpense`	$-119.26K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-641.83K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-773.45K	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-769.92K	USD	1 Quarter
Net Loss per Share - Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Net Loss per Share - Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Weighted Average Number of Shares - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	33.42M	shares	1 Quarter
Weighted Average Number of Shares - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	36.46M	shares	1 Quarter

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