10-Q Filing

SPEEDEMISSIONS INC CIK: 1158419 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001214659-14-005955`
Period End Date	20140630
Filing Date	20140814
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	spmi-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 52 Cash Flow Statement 68

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$70.61K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$45.83K	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`	$74.50K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$25.92K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$28.60K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsCurrentNet`	$39.98K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsCurrentNet`	$99.96K	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`	$140.88K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$77.67K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$367.29K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	93.55M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.32M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$263.89K	USD	Point-in-time
Notes receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$57.46K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	93.55M	shares	Point-in-time
Notes receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$61.95K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.32M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$398.90K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$289.06K	USD	Point-in-time
Goodwill	`Goodwill`	$1.81M	USD	Point-in-time
Goodwill	`Goodwill`	$1.44M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$117.84K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$111.40K	USD	Point-in-time
Total assets	`Assets`	$2.17M	USD	Point-in-time
Total assets	`Assets`	$2.75M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$939.25K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$676.15K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$171.03K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$810.51K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$824.37K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$562.61K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$590.60K	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`	$11.24K	USD	Point-in-time
Current portion - equipment financing obligations	`OtherLongTermDebtCurrent`	$13.15K	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`	$2.32M	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$50.65K	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$65.19K	USD	Point-in-time
Equipment financing obligations, net of current portion	`OtherLongTermDebtNoncurrent`	$8.50K	USD	Point-in-time
Equipment financing obligations, net of current portion	`OtherLongTermDebtNoncurrent`	$10.79K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$98.73K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$113.41K	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`	$2.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.50M	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, 93,548,914 and 39,315,855 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively	`CommonStockValue`	$39.25K	USD	Point-in-time
Common stock, $.001 par value, 250,000,000 shares authorized, 93,548,914 and 39,315,855 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively	`CommonStockValue`	$93.48K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.06M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-20.54M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.24M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-4.91M	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`	$2.17M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$3.66M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$3.40M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$1.60M	USD	1 Quarter
Revenue	`SalesRevenueNet`	$1.77M	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$357.66K	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$675.51K	USD	2 Qtrs
Cost of emission certificates	`OtherCostAndExpenseOperating`	$310.83K	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$780.60K	USD	2 Qtrs
Store operating expenses	`OperatingCostsAndExpenses`	$2.53M	USD	2 Qtrs
Store operating expenses	`OperatingCostsAndExpenses`	$2.59M	USD	2 Qtrs
Store operating expenses	`OperatingCostsAndExpenses`	$1.23M	USD	1 Quarter
Store operating expenses	`OperatingCostsAndExpenses`	$1.23M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$299.96K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$606.96K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$286.57K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$591.46K	USD	2 Qtrs
Gain on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$72.27K	USD	1 Quarter
Gain on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$72.27K	USD	2 Qtrs
Gain on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$200.73K	USD	1 Quarter
Gain on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$200.73K	USD	2 Qtrs
Goodwill impairment expense	`GoodwillImpairmentLoss`	$365.38K	USD	1 Quarter
Goodwill impairment expense	`GoodwillImpairmentLoss`	-	USD	2 Qtrs
Goodwill impairment expense	`GoodwillImpairmentLoss`	$365.38K	USD	2 Qtrs
Goodwill impairment expense	`GoodwillImpairmentLoss`	-	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-44.17K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-395.73K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-227.80K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-581.30K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.25K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.60K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.01K	USD	2 Qtrs
Interest expense	`InterestExpense`	$156.47K	USD	2 Qtrs
Interest expense	`InterestExpense`	$116.16K	USD	2 Qtrs
Interest expense	`InterestExpense`	$68.57K	USD	1 Quarter
Interest expense	`InterestExpense`	$58.52K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-154.46K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-67.32K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-113.56K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-57.51K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-382.26K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-111.49K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-453.24K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-694.86K	USD	2 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	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
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	77.30M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	34.69M	shares	2 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	34.69M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	63.58M	shares	2 Qtrs

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-382.26K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-111.49K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-453.24K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-694.86K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$151.66K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$190.78K	USD	2 Qtrs
Goodwill impairment expense	`GoodwillImpairmentLoss`	$365.38K	USD	1 Quarter
Goodwill impairment expense	`GoodwillImpairmentLoss`	-	USD	2 Qtrs
Goodwill impairment expense	`GoodwillImpairmentLoss`	$365.38K	USD	2 Qtrs
Goodwill impairment expense	`GoodwillImpairmentLoss`	-	USD	1 Quarter
Gain on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$72.27K	USD	1 Quarter
Gain on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$72.27K	USD	2 Qtrs
Gain on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$200.73K	USD	1 Quarter
Gain on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$200.73K	USD	2 Qtrs
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	2 Qtrs
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-14.22K	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	-	USD	2 Qtrs
Share based compensation	`ShareBasedCompensation`	$15.00K	USD	2 Qtrs
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$-2.68K	USD	2 Qtrs
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$-18.89K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-63.21K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$29.23K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$7.95K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.66K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$41.85K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$258.57K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$14.68K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$22.65K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$9.80K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-234.87K	USD	2 Qtrs
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$26.00K	USD	2 Qtrs
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$16.00K	USD	2 Qtrs
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$50.00K	USD	2 Qtrs
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$157.50K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.84K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.12K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$182.38K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$46.16K	USD	2 Qtrs
Stock issued for debt	`PaymentsOfStockIssuanceCosts`	$-203.28K	USD	2 Qtrs
Stock issued for debt	`PaymentsOfStockIssuanceCosts`	-	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$1.61M	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$767.76K	USD	2 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$1.63M	USD	2 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$1.03M	USD	2 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	$125.00K	USD	2 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	-	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$13.97K	USD	2 Qtrs
Payments on equipment financing obligations	`PaymentsToAcquireEquipmentOnLease`	$1.47K	USD	2 Qtrs
Payments on equipment financing obligations	`PaymentsToAcquireEquipmentOnLease`	$4.21K	USD	2 Qtrs
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$14.54K	USD	2 Qtrs
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$14.40K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$32.46K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-39.47K	USD	2 Qtrs
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$16.49K	USD	2 Qtrs
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-20.03K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$70.61K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.83K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$65.85K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$70.61K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$45.83K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$65.85K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$116.16K	USD	2 Qtrs
Cash paid during the period for interest	`InterestPaid`	$56.61K	USD	2 Qtrs
Note receivable from sale of assets	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$60.00K	USD	2 Qtrs
Note receivable from sale of assets	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$60.00K	USD	2 Qtrs

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