10-Q Filing

SPEEDEMISSIONS INC CIK: 1158419 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001214659-16-013171`
Period End Date	20160630
Filing Date	20160812
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	spmi-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 48 Cash Flow Statement 59

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$21.73K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$127.15K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$90.34K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Notes receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	-	USD	Point-in-time
Notes receivable - current portion	`AccountsNotesAndLoansReceivableNetCurrent`	$56.20K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$9.48K	USD	Point-in-time
Certificate and merchandise inventory	`OtherInventory`	$8.06K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$34.64K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$34.30K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$99.97K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$133.05K	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
Common stock, shares issued	`CommonStockSharesIssued`	111.04M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$92.93K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	111.04M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$63.39K	USD	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	109.91M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.99K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.99K	USD	Point-in-time
Total assets	`Assets`	$622.41K	USD	Point-in-time
Total assets	`Assets`	$618.88K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$26.59K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$11.11K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.07M	shares	Point-in-time
Notes payable	`NotesPayableCurrent`	$384.52K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.07M	shares	Point-in-time
Notes payable	`NotesPayableCurrent`	$227.44K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$659.67K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$744.83K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$501.33K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$527.83K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$3.04K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$27.33K	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`	$1.59M	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$10.69K	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$9.11K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$34.83K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$34.09K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.63M	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, 111,038,914 issued, with 109,914,225 shares outstanding at June 30, 2016 and December 31, 2015	`CommonStockValue`	$111.92K	USD	Point-in-time
Common stock, $.001 par value, 250,000,000 shares authorized, 111,038,914 issued, with 109,914,225 shares outstanding at June 30, 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`	$-21.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.81M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-5.54M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-5.59M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$622.41K	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$618.88K	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$1.73M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$1.63M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$841.80K	USD	1 Quarter
Revenue	`SalesRevenueNet`	$794.86K	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$309.53K	USD	2 Qtrs
Cost of emission certificates	`OtherCostAndExpenseOperating`	$148.45K	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$149.96K	USD	1 Quarter
Cost of emission certificates	`OtherCostAndExpenseOperating`	$303.65K	USD	2 Qtrs
Store operating expenses	`OperatingCostsAndExpenses`	$1.11M	USD	2 Qtrs
Store operating expenses	`OperatingCostsAndExpenses`	$514.29K	USD	1 Quarter
Store operating expenses	`OperatingCostsAndExpenses`	$565.16K	USD	1 Quarter
Store operating expenses	`OperatingCostsAndExpenses`	$1.04M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$261.07K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$330.63K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$467.46K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$159.49K	USD	1 Quarter
Loss (gain) on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$-786.00	USD	2 Qtrs
Loss (gain) on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Loss (gain) on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$-3.48K	USD	1 Quarter
Loss (gain) on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$862.00	USD	2 Qtrs
Operating profit (loss)	`OperatingIncomeLoss`	$14.58K	USD	1 Quarter
Operating profit (loss)	`OperatingIncomeLoss`	$-258.77K	USD	2 Qtrs
Operating profit (loss)	`OperatingIncomeLoss`	$51.72K	USD	2 Qtrs
Operating profit (loss)	`OperatingIncomeLoss`	$-179.82K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.51K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$755.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$252.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.01K	USD	2 Qtrs
Interest expense	`InterestExpense`	$67.77K	USD	1 Quarter
Interest expense	`InterestExpense`	$102.17K	USD	2 Qtrs
Interest expense	`InterestExpense`	$107.02K	USD	2 Qtrs
Interest expense	`InterestExpense`	$44.11K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-100.66K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-67.02K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-43.86K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-106.01K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-54.29K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-359.43K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-29.28K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-246.83K	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	108.96M	shares	2 Qtrs
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
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	109.91M	shares	2 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-54.29K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-359.43K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-29.28K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-246.83K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$29.54K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$39.17K	USD	2 Qtrs
(Gain) loss on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$-786.00	USD	2 Qtrs
(Gain) loss on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
(Gain) loss on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$-3.48K	USD	1 Quarter
(Gain) loss on sale of non-strategic assets	`GainLossOnDispositionOfAssets`	$862.00	USD	2 Qtrs
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$-1.41K	USD	2 Qtrs
Certificate and merchandise inventory	`IncreaseDecreaseInCertificateAndMerchandiseInventory`	$-3.73K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-38.87K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$348.00	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.22K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.01K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$162.27K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-58.65K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.74K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$737.00	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-115.08K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-83.47K	USD	2 Qtrs
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$31.83K	USD	2 Qtrs
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$47.00K	USD	Point-in-time
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$51.21K	USD	2 Qtrs
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.00K	USD	2 Qtrs
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$6.86K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.12K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$32.71K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$58.07K	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$2.59K	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$29.00K	USD	2 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$6.38K	USD	2 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$18.08K	USD	2 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	$438.15K	USD	2 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	$329.61K	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$247.86K	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$172.53K	USD	2 Qtrs
Payments on equipment financing obligations	`PaymentsOnEquipmentFinancingObligations`	$7.52K	USD	2 Qtrs
Payments on equipment financing obligations	`PaymentsOnEquipmentFinancingObligations`	-	USD	2 Qtrs
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$25.86K	USD	2 Qtrs
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$17.59K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$115.74K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$187.79K	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$90.34K	USD	2 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$105.42K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.73K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$127.15K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$90.34K	USD	Point-in-time
Cash at beginning 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`	$127.15K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$90.34K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$107.02K	USD	2 Qtrs
Cash paid during the period for interest	`InterestPaid`	$102.17K	USD	2 Qtrs
Note receivable from sale of assets	`NoncashOrPartNoncashAcquisitionAccountsReceivableAcquired1`	-	USD	2 Qtrs
Note receivable from sale of assets	`NoncashOrPartNoncashAcquisitionAccountsReceivableAcquired1`	$2.50K	USD	2 Qtrs

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