10-Q Filing

SPEEDEMISSIONS INC CIK: 1158419 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001214659-13-006389`
Period End Date	20130930
Filing Date	20131113
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	spmi-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 48 Cash Flow Statement 62

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$133.69K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$129.09K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$52.65K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$60.00K	USD	Point-in-time
Notes receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	$47.00K	USD	Point-in-time
Notes receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	$12.00K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$29.16K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$56.53K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$96.20K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$154.79K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$283.60K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	35.94M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	34.69M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$318.71K	USD	Point-in-time
Notes receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$64.20K	USD	Point-in-time
Notes receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$70.93K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.69M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.94M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$369.89K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$523.26K	USD	Point-in-time
Goodwill	`Goodwill`	$1.62M	USD	Point-in-time
Goodwill	`Goodwill`	$1.62M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$110.30K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$109.46K	USD	Point-in-time
Total assets	`Assets`	$2.45M	USD	Point-in-time
Total assets	`Assets`	$2.64M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$743.60K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$581.27K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$55.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$59.44K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$467.75K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$795.84K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$368.19K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$306.81K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$25.86K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$26.84K	USD	Point-in-time
Current portion - equipment financing obligations	`OtherLongTermDebtCurrent`	$3.14K	USD	Point-in-time
Current portion - equipment financing obligations	`OtherLongTermDebtCurrent`	$3.14K	USD	Point-in-time
Current portion - deferred rent	`DeferredRentCreditCurrent`	$16.68K	USD	Point-in-time
Current portion - deferred rent	`DeferredRentCreditCurrent`	$16.68K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.62M	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$72.15K	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$92.25K	USD	Point-in-time
Equipment financing obligations, net of current portion	`OtherLongTermDebtNoncurrent`	$4.11K	USD	Point-in-time
Equipment financing obligations, net of current portion	`OtherLongTermDebtNoncurrent`	$1.83K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$135.93K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$112.43K	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$14.71K	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$12.41K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.08M	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, 35,943,166 and 34,688,166 shares issued and outstanding	`CommonStockValue`	$34.62K	USD	Point-in-time
Common stock, $.001 par value, 250,000,000 shares authorized, 35,943,166 and 34,688,166 shares issued and outstanding	`CommonStockValue`	$35.87K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$15.92M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$15.94M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-20.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.73M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-4.21M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-3.78M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.64M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.45M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$1.81M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$5.47M	USD	3 Qtrs
Revenue	`SalesRevenueNet`	$5.96M	USD	3 Qtrs
Revenue	`SalesRevenueNet`	$2.05M	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$1.32M	USD	3 Qtrs
Cost of emission certificates	`OtherCostAndExpenseOperating`	$1.15M	USD	3 Qtrs
Cost of emission certificates	`OtherCostAndExpenseOperating`	$371.37K	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$452.38K	USD	1 Quarter
Store operating expenses	`OperatingCostsAndExpenses`	$3.83M	USD	3 Qtrs
Store operating expenses	`OperatingCostsAndExpenses`	$1.24M	USD	1 Quarter
Store operating expenses	`OperatingCostsAndExpenses`	$1.31M	USD	1 Quarter
Store operating expenses	`OperatingCostsAndExpenses`	$3.90M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$251.78K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$843.24K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$365.39K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$997.43K	USD	3 Qtrs
(Gain) loss on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$2.46K	USD	3 Qtrs
(Gain) loss on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$77.21K	USD	3 Qtrs
(Gain) loss on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
(Gain) loss on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$4.94K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-280.52K	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-52.71K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-80.56K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-266.11K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$3.52K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.50K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$756.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.27K	USD	3 Qtrs
Interest expense	`InterestExpense`	$23.28K	USD	1 Quarter
Interest expense	`InterestExpense`	$17.88K	USD	3 Qtrs
Interest expense	`InterestExpense`	$9.17K	USD	1 Quarter
Interest expense	`InterestExpense`	$179.75K	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-15.62K	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-21.77K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-8.41K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-176.23K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-74.49K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-88.97K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-456.75K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-281.72K	USD	3 Qtrs
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	34.69M	shares	3 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	34.82M	shares	3 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	35.08M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	34.69M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-74.49K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-88.97K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-456.75K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-281.72K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$136.67K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$234.18K	USD	3 Qtrs
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$2.46K	USD	3 Qtrs
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$77.21K	USD	3 Qtrs
Gain on sale of assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$4.94K	USD	1 Quarter
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	3 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$8.75K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	-	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$4.88K	USD	3 Qtrs
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$-27.38K	USD	3 Qtrs
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$2.49K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$58.59K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$61.56K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-12.13K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$60.54K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$389.47K	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$3.27K	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$27.93K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-147.75K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$112.17K	USD	3 Qtrs
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$34.00K	USD	3 Qtrs
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$15.86K	USD	3 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.10K	USD	3 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$69.59K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.34K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.20K	USD	3 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$70.25K	USD	3 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$12.76K	USD	3 Qtrs
Net proceeds from warrant exercise	`ProceedsFromWarrantExercises`	-	USD	3 Qtrs
Net proceeds from warrant exercise	`ProceedsFromWarrantExercises`	$1.80K	USD	3 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$2.20M	USD	3 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$622.97K	USD	3 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$430.00K	USD	3 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$2.36M	USD	3 Qtrs
Payments on equipment financing obligations	`PaymentsToAcquireEquipmentOnLease`	$2.28K	USD	3 Qtrs
Payments on equipment financing obligations	`PaymentsToAcquireEquipmentOnLease`	$18.53K	USD	3 Qtrs
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$34.85K	USD	3 Qtrs
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$21.08K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$139.59K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-183.88K	USD	3 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.59K	USD	3 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.47K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$133.69K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$129.09K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$52.65K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$60.00K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$133.69K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$129.09K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$52.65K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$60.00K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$17.64K	USD	3 Qtrs
Cash paid during the period for interest	`InterestPaid`	$79.89K	USD	3 Qtrs
Note receivable from sale of assets	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$60.00K	USD	3 Qtrs
Note receivable from sale of assets	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	-	USD	3 Qtrs

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