10-K Filing

SPEEDEMISSIONS INC CIK: 1158419 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001214659-13-001727`
Period End Date	20121231
Filing Date	20130329
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	spmi-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 27 Cash Flow Statement 69 Stockholders Equity 11

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$129.09K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$261.60K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Note receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	$12.00K	USD	Point-in-time
Note receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	$21.12K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$56.53K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$59.82K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsCurrentNet`	-	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsCurrentNet`	$99.86K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$96.20K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$59.32K	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
Total current assets	`AssetsCurrent`	$269.36K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$318.71K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.69M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	300,000.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.69M	shares	Point-in-time
Note receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$79.91K	USD	Point-in-time
Note receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$70.93K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$523.26K	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$539.67K	USD	Point-in-time
Goodwill	`Goodwill`	$2.35M	USD	Point-in-time
Goodwill	`Goodwill`	$1.24M	USD	Point-in-time
Goodwill	`Goodwill`	$1.62M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$110.30K	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`	$2.64M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$90.00K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$743.60K	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`	$467.75K	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`	$306.81K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$26.84K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$40.66K	USD	Point-in-time
Current portion - equipment financing obligations	`OtherLongTermDebtCurrent`	$3.14K	USD	Point-in-time
Current portion - 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`	$16.68K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$645.96K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.62M	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$92.25K	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$681.00	USD	Point-in-time
Equipment financing obligations, net of current portion	`OtherLongTermDebtNoncurrent`	-	USD	Point-in-time
Equipment financing obligations, net of current portion	`OtherLongTermDebtNoncurrent`	$4.11K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$112.43K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$121.39K	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$12.41K	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$7.35K	USD	Point-in-time
Total liabilities	`Liabilities`	$775.38K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.84M	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	`CommonStockValue`	$34.62K	USD	Point-in-time
Common stock, $.001 par value, 250,000,000 shares authorized, 34,688,166 shares issued and outstanding	`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`	$-19.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.73M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-3.78M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-3.12M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.23M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.64M	USD	Point-in-time

Income Statement 27 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$8.32M	USD	Annual
Revenue	`SalesRevenueNet`	$7.75M	USD	Annual
Cost of emission certificates	`OtherCostAndExpenseOperating`	$1.77M	USD	Annual
Cost of emission certificates	`OtherCostAndExpenseOperating`	$1.84M	USD	Annual
Store operating expenses	`OperatingCostsAndExpenses`	$5.24M	USD	Annual
Store operating expenses	`OperatingCostsAndExpenses`	$5.56M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.41M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.29M	USD	Annual
(Gain) loss from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$41.16K	USD	Annual
(Gain) loss from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$13.68K	USD	Annual
Goodwill impairment expense	`GoodwillImpairmentLoss`	-	USD	Annual
Goodwill impairment expense	`GoodwillImpairmentLoss`	$1.11M	USD	1 Quarter
Goodwill impairment expense	`GoodwillImpairmentLoss`	$1.11M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-1.56M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-534.55K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$3.29K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$3.02K	USD	Annual
Interest expense	`InterestExpense`	$17.31K	USD	Annual
Interest expense	`InterestExpense`	$124.51K	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$-14.02K	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$-121.49K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.58M	USD	Annual
Net loss	`NetIncomeLoss`	$-656.04K	USD	Annual
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	Annual
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	Annual
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	34.69M	shares	Annual
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	30.99M	shares	Annual

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.58M	USD	Annual
Net loss	`NetIncomeLoss`	$-656.04K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$276.66K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$201.12K	USD	Annual
Goodwill impairment expense	`GoodwillImpairmentLoss`	-	USD	Annual
Goodwill impairment expense	`GoodwillImpairmentLoss`	$1.11M	USD	1 Quarter
Goodwill impairment expense	`GoodwillImpairmentLoss`	$1.11M	USD	Annual
Gain from diposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$41.16K	USD	Annual
Gain from diposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$13.68K	USD	Annual
Conversion of preferred B stock to common stock, shares	`ConversionOfStockSharesConverted1`	215,982.00	shares	Annual
Stock issued for services	`ShareBasedGoodsAndNonemployeeServicesTransactionCashFlowEffects`	$4.50K	USD	Annual
Stock issued for services	`ShareBasedGoodsAndNonemployeeServicesTransactionCashFlowEffects`	-	USD	Annual
Share based compensation including director stock awards	`ShareBasedCompensation`	-	USD	Annual
Common stock issued for conversion, shares	`ConversionOfStockSharesIssued1`	1.63M	shares	Annual
Share based compensation including director stock awards	`ShareBasedCompensation`	$54.84K	USD	Annual
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$-3.29K	USD	Annual
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$-17.58K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$36.88K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$501.00	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$5.93K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.24K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$41.39K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$353.84K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-5.04K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-62.68K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-83.78K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-253.35K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.19K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.11K	USD	Annual
Proceeds from note receivable	`ProceedsFromCollectionOfNotesReceivable`	$16.75K	USD	Annual
Proceeds from note receivable	`ProceedsFromCollectionOfNotesReceivable`	$21.12K	USD	Annual
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$31.62K	USD	Annual
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$38.10K	USD	Annual
Acquisition of business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$425.00K	USD	Annual
Acquisition of business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$32.26K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-373.96K	USD	Annual
Proceeds from exercise of warrants into common stock	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from exercise of warrants into common stock	`ProceedsFromWarrantExercises`	$64.00K	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$697.00K	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$2.42M	USD	Annual
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$1.93M	USD	Annual
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$607.00K	USD	Annual
Payments to obtain financing	`PaymentsToAcquireFinanceReceivables`	$25.41K	USD	Annual
Payments to obtain financing	`PaymentsToAcquireFinanceReceivables`	-	USD	Annual
Payments on equipment financing obligations	`PaymentsToAcquireEquipmentOnLease`	$20.11K	USD	Annual
Payments on equipment financing obligations	`PaymentsToAcquireEquipmentOnLease`	$24.78K	USD	Annual
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$45.31K	USD	Annual
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$52.15K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$382.77K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$88.58K	USD	Annual
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-132.50K	USD	Annual
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-74.97K	USD	Annual
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$129.09K	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$261.60K	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$129.09K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$261.60K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$17.31K	USD	Annual
Cash paid during the period for interest	`InterestPaid`	$28.94K	USD	Annual
Proceeds from capital leases	`ProceedsFromCapitalLeases`	$129.90K	USD	Annual
Proceeds from capital leases	`ProceedsFromCapitalLeases`	-	USD	Annual
Proceeds from equipment financing	`NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1`	-	USD	Annual
Proceeds from equipment financing	`NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1`	$7.25K	USD	Annual
Loan origination costs	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	-	USD	Annual
Loan origination costs	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$168.50K	USD	Annual
Note receivable from the diposal of assets	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	-	USD	Annual
Note receivable from the diposal of assets	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$15.00K	USD	Annual

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-3.78M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.12M	USD	Point-in-time
Issuance of restricted common stock awards	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$54.84K	USD	Annual
Exercise of warrants	`ExerciseOfWarrants`	$64.00K	USD	Annual
Conversion - Preferred Stock - Series B	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-1.58M	USD	Annual
Net loss	`NetIncomeLoss`	$-656.04K	USD	Annual
Balance	`StockholdersEquity`	$-3.78M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.12M	USD	Point-in-time

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