10-Q Filing

SPEEDEMISSIONS INC CIK: 1158419 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001214659-14-003562`
Period End Date	20140331
Filing Date	20140514
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	spmi-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 22 Cash Flow Statement 48

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$80.24K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$54.24K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$65.85K	USD	Point-in-time
Notes receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	$32.00K	USD	Point-in-time
Notes receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	$17.00K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$31.35K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$28.60K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsCurrentNet`	$99.96K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsCurrentNet`	$69.97K	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`	$140.88K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$107.33K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.32M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	63.24M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$367.29K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$279.90K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	63.24M	shares	Point-in-time
Notes receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$59.71K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.32M	shares	Point-in-time
Notes receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$61.95K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$352.54K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$398.90K	USD	Point-in-time
Goodwill	`Goodwill`	$1.81M	USD	Point-in-time
Goodwill	`Goodwill`	$1.81M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$111.40K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$117.96K	USD	Point-in-time
Total assets	`Assets`	$2.75M	USD	Point-in-time
Total assets	`Assets`	$2.62M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$797.47K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$939.25K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$842.37K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$810.51K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$629.10K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$562.61K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$25.86K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$25.86K	USD	Point-in-time
Current portion - equipment financing obligations	`OtherLongTermDebtCurrent`	$13.15K	USD	Point-in-time
Current portion - equipment financing obligations	`OtherLongTermDebtCurrent`	$12.23K	USD	Point-in-time
Current portion - deferred rent	`DeferredRentCreditCurrent`	$15.82K	USD	Point-in-time
Current portion - deferred rent	`DeferredRentCreditCurrent`	$15.82K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.43M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.38M	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$65.19K	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$58.23K	USD	Point-in-time
Equipment financing obligations, net of current portion	`OtherLongTermDebtNoncurrent`	$10.79K	USD	Point-in-time
Equipment financing obligations, net of current portion	`OtherLongTermDebtNoncurrent`	$8.12K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$112.22K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$98.73K	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$14.71K	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$14.71K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.62M	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, 63,244,914 and 39,315,855 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$63.18K	USD	Point-in-time
Common stock, $.001 par value, 250,000,000 shares authorized, 63,244,914 and 39,315,855 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$39.25K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.19M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.06M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-20.54M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-20.79M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-4.54M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-4.45M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.75M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.62M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$1.80M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$1.89M	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$422.94K	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$364.68K	USD	1 Quarter
Store operating expenses	`OperatingCostsAndExpenses`	$1.30M	USD	1 Quarter
Store operating expenses	`OperatingCostsAndExpenses`	$1.36M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$320.38K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$291.50K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-183.63K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-185.57K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$755.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.60K	USD	1 Quarter
Interest expense	`InterestExpense`	$57.65K	USD	1 Quarter
Interest expense	`InterestExpense`	$87.90K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNet`	$-56.05K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNet`	$-87.14K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-241.62K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-270.77K	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	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	49.71M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	34.69M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-241.62K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-270.77K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$108.68K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$77.47K	USD	1 Quarter
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$17.73K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$15.00K	USD	1 Quarter
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$-14.39K	USD	1 Quarter
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$2.75K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-33.54K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$14.98K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-5.40K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$7.32K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$228.33K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$98.35K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$13.50K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$13.49K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$84.55K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$3.90K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.12K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.34K	USD	1 Quarter
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$18.00K	USD	1 Quarter
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$2.25K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-5.09K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$16.88K	USD	1 Quarter
Stock issued for debt	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Stock issued for debt	`PaymentsOfStockIssuanceCosts`	$-119.95K	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$449.98K	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$816.18K	USD	1 Quarter
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$591.76K	USD	1 Quarter
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$861.70K	USD	1 Quarter
Payments on equipment financing obligations	`PaymentsToAcquireEquipmentOnLease`	$709.00	USD	1 Quarter
Payments on equipment financing obligations	`PaymentsToAcquireEquipmentOnLease`	$3.60K	USD	1 Quarter
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$6.96K	USD	1 Quarter
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$7.11K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-53.34K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-32.38K	USD	1 Quarter
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.61K	USD	1 Quarter
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$26.12K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$80.24K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$54.24K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$65.85K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$80.24K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$54.24K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$65.85K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$87.90K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$57.65K	USD	1 Quarter

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