10-Q Filing

SPEEDEMISSIONS INC CIK: 1158419 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001214659-12-003526`
Period End Date	20120630
Filing Date	20120810
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	spmi-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 48 Cash Flow Statement 60

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$129.09K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$88.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$261.60K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$189.59K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$180.13K	USD	Point-in-time
Notes receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	$12.00K	USD	Point-in-time
Notes receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	$21.12K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$63.65K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$59.82K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$59.32K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$114.49K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$379.72K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$269.36K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Notes receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$75.42K	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
Notes receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$79.91K	USD	Point-in-time
Property and equipment, at cost less accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$450.82K	USD	Point-in-time
Property and equipment, at cost less accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$539.67K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.69M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.69M	shares	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
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
Total assets	`Assets`	$2.23M	USD	Point-in-time
Total assets	`Assets`	$2.25M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$90.00K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$350.00K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$350.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$55.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$55.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$209.95K	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`	$195.80K	USD	Point-in-time
Current portion of capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$40.66K	USD	Point-in-time
Current portion of capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$17.01K	USD	Point-in-time
Current portion of equipment financing obligations	`OtherLongTermDebtCurrent`	$12.65K	USD	Point-in-time
Current portion of equipment financing obligations	`OtherLongTermDebtCurrent`	$24.78K	USD	Point-in-time
Current portion - deferred rent	`DeferredRentCreditCurrent`	$14.79K	USD	Point-in-time
Current portion - deferred rent	`DeferredRentCreditCurrent`	$14.79K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$855.21K	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
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	-	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$121.39K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$122.58K	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`	$985.15K	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 June 30, 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 June 30, 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`	$-19.27M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.07M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-3.12M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-3.31M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.25M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.23M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$2.15M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$3.91M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$4.26M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$1.99M	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$480.43K	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$950.50K	USD	2 Qtrs
Cost of emission certificates	`OtherCostAndExpenseOperating`	$443.75K	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$869.50K	USD	2 Qtrs
Store operating expenses	`OperatingCostsAndExpenses`	$2.83M	USD	2 Qtrs
Store operating expenses	`OperatingCostsAndExpenses`	$2.59M	USD	2 Qtrs
Store operating expenses	`OperatingCostsAndExpenses`	$1.38M	USD	1 Quarter
Store operating expenses	`OperatingCostsAndExpenses`	$1.28M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$757.04K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$632.05K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$416.72K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$333.00K	USD	1 Quarter
(Gain) loss on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
(Gain) loss on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$39.62K	USD	1 Quarter
(Gain) loss on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$2.46K	USD	2 Qtrs
(Gain) loss on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$40.62K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-88.58K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-71.67K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-228.73K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-185.55K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$760.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.51K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$755.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.52K	USD	2 Qtrs
Interest expense	`InterestExpense`	$8.71K	USD	2 Qtrs
Interest expense	`InterestExpense`	$4.65K	USD	1 Quarter
Interest expense	`InterestExpense`	$9.21K	USD	2 Qtrs
Interest expense	`InterestExpense`	$5.05K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-7.20K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-7.69K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-3.89K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-4.30K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-236.42K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-92.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-192.75K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-75.97K	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	$31.69M	USD	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	$34.69M	USD	2 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	$34.69M	USD	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	$31.66M	USD	2 Qtrs

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-236.42K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-92.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-192.75K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-75.97K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$91.28K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$107.83K	USD	2 Qtrs
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets`	$39.62K	USD	1 Quarter
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets`	$2.46K	USD	2 Qtrs
(Gain) loss on sale of assets	`GainLossOnDispositionOfAssets`	$40.62K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	-	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$54.84K	USD	2 Qtrs
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$1.88K	USD	2 Qtrs
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$3.82K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$32.84K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$55.17K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-200.00	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-17.10K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-14.97K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.20K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-35.57K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-176.69K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-201.55K	USD	2 Qtrs
Proceeds from note receivable	`ProceedsFromCollectionOfNotesReceivable`	$13.62K	USD	2 Qtrs
Proceeds from note receivable	`ProceedsFromCollectionOfNotesReceivable`	$6.00K	USD	2 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.10K	USD	2 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$28.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.07K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.01K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$26.99K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$13.64K	USD	2 Qtrs
Net proceeds from warrant exercise	`ProceedsFromWarrantExercises`	$64.00K	USD	2 Qtrs
Net proceeds from warrant exercise	`ProceedsFromWarrantExercises`	-	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$355.00K	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$435.26K	USD	2 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$375.00K	USD	2 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$95.00K	USD	2 Qtrs
Payments on equipment financing obligations	`PaymentsForEquipmentFinancingObligations`	$12.13K	USD	2 Qtrs
Payments on equipment financing obligations	`PaymentsForEquipmentFinancingObligations`	$9.51K	USD	2 Qtrs
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$21.67K	USD	2 Qtrs
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$24.33K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$223.54K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$93.09K	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$60.49K	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-81.47K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$129.09K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$88.00K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$261.60K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$189.59K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$180.13K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$129.09K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$88.00K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$261.60K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$189.59K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$180.13K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$8.95K	USD	2 Qtrs
Cash paid during the period for interest	`InterestPaid`	$8.47K	USD	2 Qtrs
Note receivable from sale of assets	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$15.00K	USD	2 Qtrs
Note receivable from sale of assets	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	-	USD	2 Qtrs

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