10-Q Filing

SPEEDEMISSIONS INC CIK: 1158419 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001214659-16-011577`
Period End Date	20160331
Filing Date	20160516
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	spmi-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 24 Cash Flow Statement 52

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$21.73K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$64.01K	USD	Point-in-time
Notes receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	$53.75K	USD	Point-in-time
Notes receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	$56.20K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$11.61K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$9.48K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$34.30K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$33.57K	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$162.93K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$99.97K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$92.93K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	111.99M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	111.99M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$77.46K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	109.91M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	109.91M	shares	Point-in-time
Goodwill	`Goodwill`	$390.99K	USD	Point-in-time
Goodwill	`Goodwill`	$390.99K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.99K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.99K	USD	Point-in-time
Total assets	`Assets`	$618.88K	USD	Point-in-time
Total assets	`Assets`	$666.37K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$26.59K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$20.45K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$227.44K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$297.53K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.07M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.07M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$744.83K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$691.04K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$501.33K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$573.46K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$27.33K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$17.23K	USD	Point-in-time
Current portion - deferred rent	`DeferredRentCreditCurrent`	$2.36K	USD	Point-in-time
Current portion - deferred rent	`DeferredRentCreditCurrent`	$2.36K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.60M	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$9.91K	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$10.69K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$34.09K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$35.18K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.57M	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, 111,988,914 issued with 109,914,225 shares outstanding at March 31, 2016 and December 31, 2015	`CommonStockValue`	$111.92K	USD	Point-in-time
Common stock, $.001 par value, 250,000,000 shares authorized, 111,988,914 issued with 109,914,225 shares outstanding at March 31, 2016 and December 31, 2015	`CommonStockValue`	$111.92K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.26M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.26M	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`	$100.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.81M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-5.56M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-5.54M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$618.88K	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$666.37K	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$885.55K	USD	1 Quarter
Revenue	`SalesRevenueNet`	$832.80K	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$159.57K	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$155.20K	USD	1 Quarter
Store operating expenses	`OperatingCostsAndExpenses`	$549.38K	USD	1 Quarter
Store operating expenses	`OperatingCostsAndExpenses`	$522.03K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$206.39K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$171.15K	USD	1 Quarter
(Gain) loss from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$4.34K	USD	1 Quarter
(Gain) loss from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$-786.00	USD	1 Quarter
Operating profit (loss)	`OperatingIncomeLoss`	$-78.96K	USD	1 Quarter
Operating profit (loss)	`OperatingIncomeLoss`	$37.15K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$755.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$755.00	USD	1 Quarter
Interest expense	`InterestExpense`	$34.40K	USD	1 Quarter
Interest expense	`InterestExpense`	$62.91K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNet`	$-62.15K	USD	1 Quarter
Interest, net	`InterestIncomeExpenseNet`	$-33.64K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-25.01K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-112.60K	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	109.91M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	108.96M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-25.01K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-112.60K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$20.97K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.47K	USD	1 Quarter
(Gain) loss from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$4.34K	USD	1 Quarter
(Gain) loss from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$-786.00	USD	1 Quarter
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$-2.58K	USD	1 Quarter
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$2.13K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-22.78K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-725.00	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-35.00	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$755.00	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$18.34K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$27.33K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.09K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$978.00	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-37.13K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$3.38K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.12K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$3.21K	USD	1 Quarter
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$18.21K	USD	1 Quarter
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.34K	USD	1 Quarter
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$19.08K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$7.55K	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$2.59K	USD	1 Quarter
Payments on line of credit	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$8.73K	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$113.15K	USD	1 Quarter
Proceeds from notes payable	`ProceedsFromNotesPayable`	$150.76K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$80.67K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$104.60K	USD	1 Quarter
Payments on equipment financing obligations	`PaymentsOnEquipmentFinancingObligations`	$3.62K	USD	1 Quarter
Payments on equipment financing obligations	`PaymentsOnEquipmentFinancingObligations`	-	USD	1 Quarter
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$10.87K	USD	1 Quarter
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$8.61K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$53.08K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.69K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$64.01K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-21.73K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.73K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$64.01K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.73K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$64.01K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$62.91K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$34.40K	USD	1 Quarter

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