10-K Filing

KONATEL, INC. CIK: 845819 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001515971-20-000054`
Period End Date	20191231
Filing Date	20200512
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	ktel-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 44 Cash Flow Statement 57 Stockholders Equity 13

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value in dollars	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value in dollars	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$191.47K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$94.15K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.51K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.69M	shares	Point-in-time
Accounts Receivable, net	`AccountsReceivableNetCurrent`	$377.49K	USD	Point-in-time
Accounts Receivable, net	`AccountsReceivableNetCurrent`	$1.04M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.69M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.69M	shares	Point-in-time
Note Receivable	`NotesAndLoansReceivableNetCurrent`	$66.67K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.69M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$4.66K	USD	Point-in-time
Inventory, Net	`InventoryNet`	$1.08K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$7.35K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$1.74K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$575.36K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.17M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$102.69K	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$132.02K	USD	Point-in-time
Right to Use Assets, Net	`OperatingLeaseRightOfUseAsset`	$78.58K	USD	Point-in-time
Total Fixed Assets	`TotalFixedAssets`	$132.02K	USD	Point-in-time
Total Fixed Assets	`TotalFixedAssets`	$181.27K	USD	Point-in-time
Intangible Assets, Net	`FiniteLivedIntangibleAssetsNet`	$2.24M	USD	Point-in-time
Intangible Assets, Net	`FiniteLivedIntangibleAssetsNet`	$2.49M	USD	Point-in-time
Advances for Acquisition Target	`PrepaidExpenseNoncurrent`	$561.31K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$207.74K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$57.27K	USD	Point-in-time
Total Other Assets	`TotalOtherAssets`	$2.45M	USD	Point-in-time
Total Other Assets	`TotalOtherAssets`	$3.11M	USD	Point-in-time
Total assets	`Assets`	$4.41M	USD	Point-in-time
Total assets	`Assets`	$3.20M	USD	Point-in-time
Accounts Payable and Accrued Expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.27M	USD	Point-in-time
Accounts Payable and Accrued Expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Amount Due to Stockholder	`DueToOfficersOrStockholdersCurrent`	$91.15K	USD	Point-in-time
Amount Due to Stockholder	`DueToOfficersOrStockholdersCurrent`	$151.36K	USD	Point-in-time
Revolving Line of Credit	`LinesOfCreditCurrent`	$12.24K	USD	Point-in-time
Revolving Line of Credit	`LinesOfCreditCurrent`	$103.38K	USD	Point-in-time
Note Payable, current portion	`NotesPayableCurrent`	$75.91K	USD	Point-in-time
Lease Liabilities, current portion	`OperatingLeaseLiabilityCurrent`	$69.15K	USD	Point-in-time
Deferred Revenue	`DeferredRevenueCurrent`	$69.99K	USD	Point-in-time
Deferred Revenue	`DeferredRevenueCurrent`	$53.07K	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$108.94K	USD	Point-in-time
Customer Deposits	`CustomerDepositsCurrent`	$28.85K	USD	Point-in-time
Customer Deposits	`CustomerDepositsCurrent`	$31.09K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.62M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.67M	USD	Point-in-time
Lease Liabilities, long term	`OperatingLeaseLiabilityNoncurrent`	$12.94K	USD	Point-in-time
Note Payable, long term	`LongTermNotesPayable`	$50.60K	USD	Point-in-time
Deferred Tax Liability	`DeferredTaxLiabilitiesNoncurrent`	$10.70K	USD	Point-in-time
Total Long Term Liabilities	`LiabilitiesNoncurrent`	$10.70K	USD	Point-in-time
Total Long Term Liabilities	`LiabilitiesNoncurrent`	$63.55K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.68M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.68M	USD	Point-in-time
Common Stock	`CommonStockValue`	$40.69K	USD	Point-in-time
Common Stock	`CommonStockValue`	$40.69K	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$7.04M	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$7.38M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-5.90M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-4.35M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.52M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-460.65K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.73M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.20M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.41M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$9.17M	USD	Annual
Revenue	`Revenues`	$9.42M	USD	Annual
Cost of Revenue	`CostOfRevenue`	$6.30M	USD	Annual
Cost of Revenue	`CostOfRevenue`	$7.57M	USD	Annual
Gross Profit	`GrossProfit`	$1.84M	USD	Annual
Gross Profit	`GrossProfit`	$2.87M	USD	Annual
Payroll and Related Expenses	`LaborAndRelatedExpense`	$1.48M	USD	Annual
Payroll and Related Expenses	`LaborAndRelatedExpense`	$1.85M	USD	Annual
Operating and Maintenance	`OtherCostAndExpenseOperating`	$1.40M	USD	Annual
Operating and Maintenance	`OtherCostAndExpenseOperating`	$1.10M	USD	Annual
Bad Debt	`ProvisionForDoubtfulAccounts`	$15.21K	USD	Annual
Bad Debt	`ProvisionForDoubtfulAccounts`	$36.63K	USD	Annual
Utilities and Facilities	`OtherGeneralAndAdministrativeExpense`	$101.36K	USD	Annual
Utilities and Facilities	`OtherGeneralAndAdministrativeExpense`	$189.46K	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$166.15K	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$989.79K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$99.36K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$154.07K	USD	Annual
Marketing and Advertising	`MarketingAndAdvertisingExpense`	$46.96K	USD	Annual
Marketing and Advertising	`MarketingAndAdvertisingExpense`	$26.04K	USD	Annual
Taxes and Insurance	`RealEstateTaxesAndInsurance`	$10.49K	USD	Annual
Taxes and Insurance	`RealEstateTaxesAndInsurance`	$140.38K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$3.29M	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$4.52M	USD	Annual
Operating Loss	`OperatingIncomeLoss`	$-1.45M	USD	Annual
Operating Loss	`OperatingIncomeLoss`	$-1.65M	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$1.15K	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$1.56K	USD	Annual
Other Income	`OtherNonoperatingIncome`	$8.07K	USD	Annual
Other Income	`OtherNonoperatingIncome`	$15.50K	USD	Annual
Gain on Sale of Assets	`GainLossOnSaleOfBusiness`	$318.26K	USD	Annual
Interest Expense	`InterestExpense`	$38.95K	USD	Annual
Interest Expense	`InterestExpense`	$55.27K	USD	Annual
Total Other Income and Expenses	`NonoperatingIncomeExpense`	$288.54K	USD	Annual
Total Other Income and Expenses	`NonoperatingIncomeExpense`	$-38.21K	USD	Annual
Net Loss before Provision for Income Tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.68M	USD	Annual
Net Loss before Provision for Income Tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.16M	USD	Annual
Provision for Income Taxes (Benefit)	`IncomeTaxExpenseBenefit`	$-98.50K	USD	Annual
Net Loss	`NetIncomeLoss`	$-1.16M	USD	Annual
Net Loss	`NetIncomeLoss`	$-1.58M	USD	Annual
Net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	Annual
Net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	Annual
Weighted Average Number of Basic and Diluted Shares	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.89M	shares	Annual
Weighted Average Number of Basic and Diluted Shares	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.69M	shares	Annual

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-1.16M	USD	Annual
Net Loss	`NetIncomeLoss`	$-1.58M	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$166.15K	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$989.79K	USD	Annual
Bad Debt	`ProvisionForDoubtfulAccounts`	$15.21K	USD	Annual
Bad Debt	`ProvisionForDoubtfulAccounts`	$36.63K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$602.16K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$338.33K	USD	Annual
Gain on Sale of Business Component	`GainLossOnSaleOfBusiness`	$318.26K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$154.45K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-745.11K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-44.83K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$3.57K	USD	Annual
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-96.21K	USD	Annual
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-8.01K	USD	Annual
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-330.07K	USD	Annual
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-145.80K	USD	Annual
Note Payable	`IncreaseDecreaseInNotesPayableCurrent`	$-41.77K	USD	Annual
Deferred Revenue	`IncreaseDecreaseInDeferredRevenue`	$27.39K	USD	Annual
Deferred Revenue	`IncreaseDecreaseInDeferredRevenue`	$-16.91K	USD	Annual
Customer Deposits	`IncreaseDecreaseInCustomerAdvancesAndDeposits`	$2.23K	USD	Annual
Other Assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-575.00	USD	Annual
Other Assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$150.47K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$176.68K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.01M	USD	Annual
Cash Received in Acquisition of IM Telecom	`CashAcquiredFromAcquisition`	$14.32K	USD	Annual
Notes receivable from Sale of Business Component	`NotesReceivableFromSaleOfBusinessComponent`	$-33.33K	USD	Annual
Notes receivable from Sale of Business Component	`NotesReceivableFromSaleOfBusinessComponent`	$-66.67K	USD	Annual
Proceeds from Sale of Business Component	`ProceedsFromDivestitureOfBusinesses`	$266.04K	USD	Annual
Advances for Acquisition Target	`OtherPaymentsToAcquireBusinesses`	$443.63K	USD	Annual
Asset Purchase of IM Telecom	`PaymentsToAcquireProductiveAssets`	$22.38K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$58.60K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-144.25K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.20M	USD	Annual
Repayment of Revolving Lines of Credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-91.14K	USD	Annual
Repayment of Revolving Lines of Credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-49.76K	USD	Annual
Advances made by Stockholder	`ProceedsFromRelatedPartyDebt`	$100.00K	USD	Annual
Advances made by Stockholder	`ProceedsFromRelatedPartyDebt`	$200.00K	USD	Annual
Payments on Operating Lease Liabilities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-69.38K	USD	Annual
Repayments of amounts due to Related Party and Seller	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-132.18K	USD	Annual
Repayments of amounts due to Related Party and Seller	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-139.79K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.12M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-100.32K	USD	Annual
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-37.64K	USD	Annual
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$134.96K	USD	Annual
Cash, Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$191.47K	USD	Point-in-time
Cash, Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$94.15K	USD	Point-in-time
Cash, Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.51K	USD	Point-in-time
Cash, End of period	`CashAndCashEquivalentsAtCarryingValue`	$191.47K	USD	Point-in-time
Cash, End of period	`CashAndCashEquivalentsAtCarryingValue`	$94.15K	USD	Point-in-time
Cash, End of period	`CashAndCashEquivalentsAtCarryingValue`	$56.51K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$40.66K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$20.36K	USD	Annual
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	Annual
Notes Receivable	`SaleOfAssetsNotesReceivable`	$-100.00K	USD	Annual
Accounts Payable and Accrued Expenses, net of cash	`AccountsPayableAndAccruedExpensesNetOfCashSaleOfAssets`	$39.97K	USD	Annual

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$1.52M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$-460.65K	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$2.73M	USD	Point-in-time
Issuance of common stock, value	`StockIssuedDuringPeriodValueNewIssues`	$1.30M	USD	Annual
Issuance of common stock in acquisition, value	`StockIssuedDuringPeriodValueAcquisitions`	$2.45M	USD	Annual
Dividend Settled in 2018	`DividendsCash`	$40.00K	USD	Annual
Stock Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$338.33K	USD	Annual
Stock Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$602.16K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.16M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.58M	USD	Annual
Ending Balance	`StockholdersEquity`	$1.52M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$-460.65K	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$2.73M	USD	Point-in-time

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