10-Q Filing

SPEEDEMISSIONS INC CIK: 1158419 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-231248`
Period End Date	20120331
Filing Date	20120514
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	cik0001158419-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 24 Cash Flow Statement 42

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$122.19K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$261.60K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$152.91K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$129.09K	USD	Point-in-time
Notes receivable - current portion	`NotesAndLoansReceivableNetCurrent`	$12.00K	USD	Point-in-time
Notes receivable - current portion	`NotesAndLoansReceivableNetCurrent`	$21.12K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$59.82K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$70.82K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$72.12K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$59.32K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$269.36K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$277.12K	USD	Point-in-time
Notes receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$79.91K	USD	Point-in-time
Notes receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$77.67K	USD	Point-in-time
Property and equipment, at cost less accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$539.67K	USD	Point-in-time
Property and equipment, at cost less accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$493.14K	USD	Point-in-time
Goodwill	`Goodwill`	$1.24M	USD	Point-in-time
Goodwill	`Goodwill`	$1.24M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$104.36K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$104.36K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$2.23M	USD	Point-in-time
Total assets	`Assets`	$2.19M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$95.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.69M	shares	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$90.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.69M	shares	Point-in-time
Note payable	`NotesPayableCurrent`	$55.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$55.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.69M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.69M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$339.61K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$220.62K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$200.10K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$169.42K	USD	Point-in-time
Current portion of capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$40.66K	USD	Point-in-time
Current portion of capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$29.35K	USD	Point-in-time
Current portion of equipment financing obligations	`OtherLongTermDebtCurrent`	$24.78K	USD	Point-in-time
Current portion of equipment financing obligations	`OtherLongTermDebtCurrent`	$18.83K	USD	Point-in-time
Current portion - deferred rent	`DeferredRentCreditCurrent`	$14.79K	USD	Point-in-time
Current portion - deferred rent	`DeferredRentCreditCurrent`	$14.80K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$722.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$645.96K	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$681.00	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$121.39K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$121.79K	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$7.35K	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$7.35K	USD	Point-in-time
Total liabilities	`Liabilities`	$851.14K	USD	Point-in-time
Total liabilities	`Liabilities`	$775.38K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A convertible, redeemable preferred stock, $.001 par value, 5,000,000 shares authorized, 5,133 shares issued and outstanding; liquidation preference: $5,133,000	`PreferredStockValue`	$4.58M	USD	Point-in-time
Series A convertible, redeemable preferred stock, $.001 par value, 5,000,000 shares authorized, 5,133 shares issued and outstanding; liquidation preference: $5,133,000	`PreferredStockValue`	$4.58M	USD	Point-in-time
Common stock, $.001 par value, 250,000,000 shares authorized, 34,688,166 shares issued and outstanding at March 31, 2012 and December 31, 2011	`CommonStockValue`	$34.62K	USD	Point-in-time
Common stock, $.001 par value, 250,000,000 shares authorized, 34,688,166 shares issued and outstanding at March 31, 2012 and December 31, 2011	`CommonStockValue`	$34.62K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$15.92M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$15.92M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.07M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.24M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.12M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.23M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.19M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$1.92M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$2.11M	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$470.07K	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$425.75K	USD	1 Quarter
Store operating expenses	`OperatingCostsAndExpenses`	$1.44M	USD	1 Quarter
Store operating expenses	`OperatingCostsAndExpenses`	$1.31M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$299.04K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$340.32K	USD	1 Quarter
Gain on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$1.00K	USD	1 Quarter
Gain on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$2.46K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-140.15K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-113.88K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$759.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$755.00	USD	1 Quarter
Interest expense	`InterestExpense`	$4.56K	USD	1 Quarter
Interest expense	`InterestExpense`	$3.66K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-3.80K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.90K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-116.78K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-143.95K	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	34.69M	shares	Point-in-time
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	23.87M	shares	Point-in-time

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-116.78K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-143.95K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$55.80K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$45.89K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$1.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$2.46K	USD	1 Quarter
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$10.99K	USD	1 Quarter
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$6.40K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$12.80K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$14.87K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-41.99K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$88.31K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$400.00	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-15.04K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.44K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-167.45K	USD	1 Quarter
Proceeds from note receivable	`ProceedsFromCollectionOfNotesReceivable`	$2.25K	USD	1 Quarter
Proceeds from note receivable	`ProceedsFromCollectionOfNotesReceivable`	$11.37K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.10K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$14.47K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.25K	USD	1 Quarter
Net proceeds from line of credit	`ProceedsFromLinesOfCredit`	$5.00K	USD	1 Quarter
Net proceeds from line of credit	`ProceedsFromLinesOfCredit`	$70.36K	USD	1 Quarter
Payments on equipment financing obligations	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$-5.95K	USD	1 Quarter
Payments on equipment financing obligations	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$-4.16K	USD	1 Quarter
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$11.99K	USD	1 Quarter
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$10.68K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.94K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$55.52K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-108.69K	USD	1 Quarter
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.91K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$122.19K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$261.60K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$152.91K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$129.09K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$122.19K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$261.60K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$152.91K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$129.09K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$3.19K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$3.98K	USD	1 Quarter

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