10-Q Filing

SPEEDEMISSIONS INC CIK: 1158419 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001214659-17-005040`
Period End Date	20170630
Filing Date	20170814
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	spmi-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 52 Cash Flow Statement 61

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$53.01K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.76K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$90.34K	USD	Point-in-time
Auto parts, certificate and merchandise inventory	`OtherInventory`	$9.12K	USD	Point-in-time
Auto parts, certificate and merchandise inventory	`OtherInventory`	$58.69K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$45.36K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$49.93K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$112.06K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$109.81K	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$48.74K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$241.01K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Goodwill	`Goodwill`	$210.88K	USD	Point-in-time
Goodwill	`Goodwill`	$390.99K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	120.44M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	120.44M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$35.66K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	118.36M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$31.81K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	118.36M	shares	Point-in-time
Total assets	`Assets`	$593.51K	USD	Point-in-time
Total assets	`Assets`	$587.45K	USD	Point-in-time
Total assets	`Assets`	$622.41K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$27.30K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$26.37K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$449.44K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$258.01K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$678.32K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.07M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$486.96K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.07M	shares	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$532.34K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$551.38K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$3.28K	USD	Point-in-time
Current portion - capitalized lease obligations	`CapitalLeaseObligationsCurrent`	$3.53K	USD	Point-in-time
Current portion - deferred rent	`DeferredRentCreditCurrent`	$2.82K	USD	Point-in-time
Current portion - deferred rent	`DeferredRentCreditCurrent`	$2.82K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.71M	USD	Point-in-time
Notes payable, net of current portion	`LongTermDebtCurrent`	-	USD	Point-in-time
Notes payable, net of current portion	`LongTermDebtCurrent`	$252.96K	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$7.41K	USD	Point-in-time
Capitalized lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$5.58K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$36.50K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$31.89K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.60M	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, 120,438,914 issued with 118,364,225 shares outstanding at June 30, 2017 and December 31, 2016	`CommonStockValue`	$120.37K	USD	Point-in-time
Common stock, $.001 par value, 250,000,000 shares authorized, 120,438,914 issued with 118,364,225 shares outstanding at June 30, 2017 and December 31, 2016	`CommonStockValue`	$120.37K	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`	$-21.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-22.03M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-5.75M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-5.59M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$587.45K	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$593.51K	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Revenue	`SalesRevenueNet`	$1.73M	USD	2 Qtrs
Revenue	`SalesRevenueNet`	$779.26K	USD	1 Quarter
Revenue	`SalesRevenueNet`	$841.80K	USD	1 Quarter
Revenue	`SalesRevenueNet`	$1.68M	USD	2 Qtrs
Cost of revenue	`OtherCostAndExpenseOperating`	$309.53K	USD	2 Qtrs
Cost of revenue	`OtherCostAndExpenseOperating`	$149.96K	USD	1 Quarter
Cost of revenue	`OtherCostAndExpenseOperating`	$314.57K	USD	2 Qtrs
Cost of revenue	`OtherCostAndExpenseOperating`	$148.03K	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$1.04M	USD	2 Qtrs
Station operating expenses	`OperatingCostsAndExpenses`	$505.92K	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$514.29K	USD	1 Quarter
Station operating expenses	`OperatingCostsAndExpenses`	$1.05M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$330.63K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$159.49K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$175.57K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$351.23K	USD	2 Qtrs
(Gain) loss from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$959.00	USD	1 Quarter
(Gain) loss from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$862.00	USD	2 Qtrs
(Gain) loss from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$75.06K	USD	2 Qtrs
(Gain) loss from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$-3.48K	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$14.58K	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$34.44K	USD	2 Qtrs
Operating (loss) income	`OperatingIncomeLoss`	$-49.30K	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$51.72K	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$199.91K	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	-	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$252.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.01K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$44.11K	USD	1 Quarter
Interest expense	`InterestExpense`	$74.16K	USD	2 Qtrs
Interest expense	`InterestExpense`	$35.32K	USD	1 Quarter
Interest expense	`InterestExpense`	$107.02K	USD	2 Qtrs
Other income (expense), net	`InterestIncomeExpenseNet`	$-106.01K	USD	2 Qtrs
Other income (expense), net	`InterestIncomeExpenseNet`	$-35.32K	USD	1 Quarter
Other income (expense), net	`InterestIncomeExpenseNet`	$-43.86K	USD	1 Quarter
Other income (expense), net	`InterestIncomeExpenseNet`	$125.75K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-84.62K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$160.19K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-29.28K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-54.29K	USD	2 Qtrs
Basic and diluted net (loss) income per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted net (loss) income per share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted net (loss) income per share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted net (loss) income 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`	118.36M	shares	1 Quarter
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	109.91M	shares	2 Qtrs
Weighted average common shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	118.36M	shares	2 Qtrs

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-84.62K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$160.19K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-29.28K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-54.29K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$29.54K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.07K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$21.86K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.66K	USD	1 Quarter
Gain from derecognition of accounts payable	`GainFromDerecognitionOfAccountsPayable`	-	USD	2 Qtrs
Gain from derecognition of accounts payable	`GainFromDerecognitionOfAccountsPayable`	$199.91K	USD	2 Qtrs
Gain from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$959.00	USD	1 Quarter
Gain from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$862.00	USD	2 Qtrs
Gain from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$75.06K	USD	2 Qtrs
Gain from disposal of non-strategic assets	`GainLossOnDispositionOfAssets`	$-3.48K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-1.41K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$49.57K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-4.58K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$348.00	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-3.85K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.01K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-58.65K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-10.49K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$737.00	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-4.61K	USD	2 Qtrs
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-149.17K	USD	2 Qtrs
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-83.47K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$214.97K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$51.21K	USD	2 Qtrs
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	-	USD	2 Qtrs
Proceeds from notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$47.00K	USD	Point-in-time
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$6.86K	USD	2 Qtrs
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$256.00K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$41.03K	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`	$40.13K	USD	2 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$39.20K	USD	2 Qtrs
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$18.08K	USD	2 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	$265.00K	USD	2 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	$329.61K	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$203.46K	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$172.53K	USD	2 Qtrs
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$25.86K	USD	2 Qtrs
Payments on capitalized leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$1.58K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$60.89K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$115.74K	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$90.34K	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-47.25K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$53.01K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.76K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$90.34K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$53.01K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.76K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$90.34K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$74.16K	USD	2 Qtrs
Cash paid during the period for interest	`InterestPaid`	$107.02K	USD	2 Qtrs

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