10-K Filing

SPEEDEMISSIONS INC CIK: 1158419 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001214659-15-003217`
Period End Date	20141231
Filing Date	20150422
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	spmi-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 26 Cash Flow Statement 72 Stockholders Equity 14

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$21.73K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$65.85K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Note receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	$32.00K	USD	Point-in-time
Note receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	$41.68K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$28.60K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$11.18K	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, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsCurrentNet`	-	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
Other current assets	`OtherAssetsCurrent`	$83.84K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$140.88K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	111.04M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$367.29K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	111.04M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$158.44K	USD	Point-in-time
Note receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$52.97K	USD	Point-in-time
Note receivable, net of current portion	`NotesAndLoansReceivableNetNoncurrent`	$61.95K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	108.96M	shares	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`	$156.45K	USD	Point-in-time
Goodwill	`Goodwill`	$1.81M	USD	Point-in-time
Goodwill	`Goodwill`	$1.62M	USD	Point-in-time
Goodwill	`Goodwill`	$390.99K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$69.60K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$111.40K	USD	Point-in-time
Total assets	`Assets`	$2.75M	USD	Point-in-time
Total assets	`Assets`	$828.45K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.07M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.07M	shares	Point-in-time
Line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$939.25K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$190.96K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$810.51K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$696.19K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$562.61K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$270.83K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$25.86K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$25.84K	USD	Point-in-time
Current portion - equipment financing obligations	`OtherLongTermDebtCurrent`	$10.29K	USD	Point-in-time
Current portion - equipment financing obligations	`OtherLongTermDebtCurrent`	$13.15K	USD	Point-in-time
Current portion - deferred rent	`DeferredRentCreditCurrent`	$6.07K	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`	$1.20M	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$35.40K	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`	$10.79K	USD	Point-in-time
Equipment financing obligations, net of current portion	`OtherLongTermDebtNoncurrent`	-	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$45.89K	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`	$2.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.30M	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, 111,038,914 issued with 108,964,225 and 39,315,855 shares outstanding at December 31, 2014 and 2013 respectively	`CommonStockValue`	$110.97K	USD	Point-in-time
Common stock, $.001 par value, 250,000,000 shares authorized, 111,038,914 issued with 108,964,225 and 39,315,855 shares outstanding at December 31, 2014 and 2013 respectively	`CommonStockValue`	$39.25K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.26M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.06M	USD	Point-in-time
Treasury stock at cost, (2,074,689 shares)	`TreasuryStockValue`	$100.00K	USD	Point-in-time
Treasury stock at cost, (2,074,689 shares)	`TreasuryStockValue`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.32M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-20.54M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-4.45M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-5.05M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-3.78M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.75M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$828.45K	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$5.58M	USD	Annual
Revenue	`SalesRevenueNet`	$7.10M	USD	Annual
Cost of emissions certificates	`OtherCostAndExpenseOperating`	$1.49M	USD	Annual
Cost of emissions certificates	`OtherCostAndExpenseOperating`	$1.04M	USD	Annual
Store operating expenses	`OperatingCostsAndExpenses`	$5.08M	USD	Annual
Store operating expenses	`OperatingCostsAndExpenses`	$4.03M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.08M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.02M	USD	Annual
Gain from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$789.17K	USD	Annual
Gain from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$83.85K	USD	Annual
Goodwill impairment expense	`GoodwillImpairmentLoss`	$723.07K	USD	Annual
Goodwill impairment expense	`GoodwillImpairmentLoss`	$107.74K	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-588.35K	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-456.06K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$4.12K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$5.02K	USD	Annual
Interest expense	`InterestExpense`	$321.24K	USD	Annual
Interest expense	`InterestExpense`	$231.15K	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$-317.12K	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$-226.13K	USD	Annual
Net loss	`NetIncomeLoss`	$-773.18K	USD	Annual
Net loss	`NetIncomeLoss`	$-814.48K	USD	Annual
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	Annual
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	35.62M	shares	Annual
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	85.85M	shares	Annual

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-773.18K	USD	Annual
Net loss	`NetIncomeLoss`	$-814.48K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$256.53K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$281.25K	USD	Annual
Goodwill impairment expense	`GoodwillImpairmentLoss`	$723.07K	USD	Annual
Goodwill impairment expense	`GoodwillImpairmentLoss`	$107.74K	USD	Annual
Gain from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$789.17K	USD	Annual
Gain from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$83.85K	USD	Annual
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$43.79K	USD	Annual
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$43.75K	USD	Annual
Share based compensation including director stock awards	`ShareBasedCompensation`	$16.20K	USD	Annual
Share based compensation including director stock awards	`ShareBasedCompensation`	$4.88K	USD	Annual
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$-17.42K	USD	Annual
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$-27.93K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-57.03K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$19.48K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-38.78K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$4.12K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-415.85K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$377.71K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-11.40K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-52.84K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-90.03K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-878.25K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$35.28K	USD	Annual
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.18K	USD	Annual
Proceeds from note receivable	`ProceedsFromCollectionOfNotesReceivable`	$52.00K	USD	Annual
Proceeds from note receivable	`ProceedsFromCollectionOfNotesReceivable`	$69.82K	USD	Annual
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.51M	USD	Annual
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$81.09K	USD	Annual
Acquisition of business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$150.00K	USD	Annual
Acquisition of business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$1.57M	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-52.19K	USD	Annual
Proceeds from exercise of warrants into common stock	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from exercise of warrants into common stock	`ProceedsFromWarrantExercises`	$4.20K	USD	Annual
Stock issued for debt	`PaymentsOfStockIssuanceCosts`	$-6.00K	USD	Annual
Stock issued for debt	`PaymentsOfStockIssuanceCosts`	$-213.85K	USD	Annual
Repurchase common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Repurchase common stock	`PaymentsForRepurchaseOfCommonStock`	$100.00K	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$3.10M	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$949.23K	USD	Annual
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$2.91M	USD	Annual
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$1.89M	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$5.00K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$297.08K	USD	Annual
Payments on notes payable	`RepaymentsOfNotesPayable`	$166.12K	USD	Annual
Payments on notes payable	`RepaymentsOfNotesPayable`	-	USD	Annual
Payments to obtain financing	`PaymentsToAcquireFinanceReceivables`	$19.95K	USD	Annual
Payments to obtain financing	`PaymentsToAcquireFinanceReceivables`	-	USD	Annual
Payments on equipment financing obligations	`PaymentsToAcquireEquipmentOnLease`	$13.65K	USD	Annual
Payments on equipment financing obligations	`PaymentsToAcquireEquipmentOnLease`	$8.89K	USD	Annual
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$28.04K	USD	Annual
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$29.81K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-737.91K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$153.96K	USD	Annual
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-44.12K	USD	Annual
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.73K	USD	Annual
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$21.73K	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$65.85K	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$21.73K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$65.85K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$54.12K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$221.28K	USD	Annual
Cash paid during the period for interest	`InterestPaid`	$105.63K	USD	Annual
Proceeds from equipment financing	`NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1`	$25.59K	USD	Annual
Proceeds from equipment financing	`NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1`	-	USD	Annual
Loan origination costs	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	-	USD	Annual
Loan origination costs	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$100.00K	USD	Annual
Notes receivable from the disposal of assets	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$60.00K	USD	Annual
Notes receivable from the disposal of assets	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$72.75K	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-4.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$-5.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.78M	USD	Point-in-time
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$59.95K	USD	Annual
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$133.88K	USD	Annual
Exercise of warrants	`ExerciseOfWarrants`	$4.20K	USD	Annual
Issuance of common stock for debt	`StockIssuedDuringPeriodValueOther`	$213.85K	USD	Annual
Issuance of common stock for debt	`StockIssuedDuringPeriodValueOther`	$6.00K	USD	Annual
Purchase common stock for treasury	`StockRepurchasedDuringPeriodValue`	$100.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-773.18K	USD	Annual
Net loss	`NetIncomeLoss`	$-814.48K	USD	Annual
Balance	`StockholdersEquity`	$-4.45M	USD	Point-in-time
Balance	`StockholdersEquity`	$-5.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.78M	USD	Point-in-time

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