10-Q Filing

KONATEL, INC. CIK: 845819 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001515971-23-000072`
Period End Date	20230331
Filing Date	20230515
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	ktel10q033123_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 46 Cash Flow Statement 44 Stockholders Equity 15

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	42.48M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	42.24M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.06M	USD	Point-in-time
Accounts Receivable, net	`AccountsReceivableNetCurrent`	$1.51M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	42.48M	shares	Point-in-time
Accounts Receivable, net	`AccountsReceivableNetCurrent`	$1.20M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	42.24M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$690.87K	USD	Point-in-time
Inventory, Net	`InventoryNet`	$526.34K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$61.24K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$35.17K	USD	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$164.00	USD	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$164.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.52M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.15M	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$33.45K	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$36.54K	USD	Point-in-time
Intangible Assets, Net	`FiniteLivedIntangibleAssetsNet`	$634.25K	USD	Point-in-time
Intangible Assets, Net	`FiniteLivedIntangibleAssetsNet`	$634.25K	USD	Point-in-time
Right of Use Asset	`OperatingLeaseRightOfUseAsset`	$519.89K	USD	Point-in-time
Right of Use Asset	`OperatingLeaseRightOfUseAsset`	$553.69K	USD	Point-in-time
Other Assets	`OtherAssets`	$74.54K	USD	Point-in-time
Other Assets	`OtherAssets`	$73.88K	USD	Point-in-time
Total Other Assets	`TotalOtherAssets`	$1.26M	USD	Point-in-time
Total Other Assets	`TotalOtherAssets`	$1.23M	USD	Point-in-time
Total Assets	`Assets`	$5.45M	USD	Point-in-time
Total Assets	`Assets`	$4.79M	USD	Point-in-time
Accounts Payable and Accrued Expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.35M	USD	Point-in-time
Accounts Payable and Accrued Expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.40M	USD	Point-in-time
Loans Payable, net of loan fees	`LoansPayableCurrent`	$3.11M	USD	Point-in-time
Loans Payable, net of loan fees	`LoansPayableCurrent`	$3.07M	USD	Point-in-time
Right of Use Operating Lease Obligation - current	`OperatingLeaseLiabilityCurrent`	$118.38K	USD	Point-in-time
Right of Use Operating Lease Obligation - current	`OperatingLeaseLiabilityCurrent`	$120.66K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.54M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.63M	USD	Point-in-time
Right of Use Operating Lease Obligation - long term	`OperatingLeaseLiabilityNoncurrent`	$458.23K	USD	Point-in-time
Right of Use Operating Lease Obligation - long term	`OperatingLeaseLiabilityNoncurrent`	$427.30K	USD	Point-in-time
Total Long Term Liabilities	`LiabilitiesNoncurrent`	$458.23K	USD	Point-in-time
Total Long Term Liabilities	`LiabilitiesNoncurrent`	$427.30K	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.06M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.00M	USD	Point-in-time
Common stock, $0.001 par value, 50,000,000 shares authorized, 42,483,220 outstanding and issued at March 31, 2023 and 42,240,406 outstanding and issued at December 31, 2022	`CommonStockValue`	$42.48K	USD	Point-in-time
Common stock, $0.001 par value, 50,000,000 shares authorized, 42,483,220 outstanding and issued at March 31, 2023 and 42,240,406 outstanding and issued at December 31, 2022	`CommonStockValue`	$42.24K	USD	Point-in-time
Additional Paid In Capital	`AdditionalPaidInCapital`	$8.71M	USD	Point-in-time
Additional Paid In Capital	`AdditionalPaidInCapital`	$8.89M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-9.21M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-8.30M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$2.71M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$-275.49K	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$455.36K	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$2.61M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$4.79M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$5.45M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$4.03M	USD	1 Quarter
Revenue	`Revenues`	$4.23M	USD	1 Quarter
Cost of Revenue	`CostOfRevenue`	$2.58M	USD	1 Quarter
Cost of Revenue	`CostOfRevenue`	$3.03M	USD	1 Quarter
Gross Profit	`GrossProfit`	$1.00M	USD	1 Quarter
Gross Profit	`GrossProfit`	$1.65M	USD	1 Quarter
Payroll and Related Expenses	`LaborAndRelatedExpense`	$1.14M	USD	1 Quarter
Payroll and Related Expenses	`LaborAndRelatedExpense`	$1.13M	USD	1 Quarter
Operating and Maintenance	`OtherCostAndExpenseOperating`	$1.70K	USD	1 Quarter
Operating and Maintenance	`OtherCostAndExpenseOperating`	$642.00	USD	1 Quarter
Bad Debt	`ProvisionForDoubtfulAccounts`	$55.00	USD	1 Quarter
Bad Debt	`ProvisionForDoubtfulAccounts`	$14.00	USD	1 Quarter
Professional and Other Expenses	`ProfessionalAndContractServicesExpense`	$149.17K	USD	1 Quarter
Professional and Other Expenses	`ProfessionalAndContractServicesExpense`	$300.50K	USD	1 Quarter
Utilities and Facilities	`OtherGeneralExpense`	$35.69K	USD	1 Quarter
Utilities and Facilities	`OtherGeneralExpense`	$57.05K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$4.12K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$3.09K	USD	1 Quarter
General and Administrative	`GeneralAndAdministrativeExpense`	$60.92K	USD	1 Quarter
General and Administrative	`GeneralAndAdministrativeExpense`	$40.23K	USD	1 Quarter
Marketing and Advertising	`MarketingAndAdvertisingExpense`	$37.52K	USD	1 Quarter
Marketing and Advertising	`MarketingAndAdvertisingExpense`	$47.67K	USD	1 Quarter
Application Development Costs	`ApplicationDevelopmentCosts`	$134.60K	USD	1 Quarter
Application Development Costs	`ApplicationDevelopmentCosts`	$143.53K	USD	1 Quarter
Taxes and Insurance	`RealEstateTaxesAndInsurance`	$31.90K	USD	1 Quarter
Taxes and Insurance	`RealEstateTaxesAndInsurance`	$31.38K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.60M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.76M	USD	1 Quarter
Operating Income/(Loss)	`OperatingIncomeLoss`	$-753.20K	USD	1 Quarter
Operating Income/(Loss)	`OperatingIncomeLoss`	$50.70K	USD	1 Quarter
Interest Expense	`InterestExpense`	$161.50K	USD	1 Quarter
Interest Expense	`InterestExpense`	$24.03K	USD	1 Quarter
Other Income/(Expense), net	`OtherNonoperatingExpense`	$71.12K	USD	1 Quarter
Other Income/(Expense), net	`OtherNonoperatingExpense`	-	USD	1 Quarter
Total Other Income and Expenses	`NonoperatingIncomeExpense`	$-161.50K	USD	1 Quarter
Total Other Income and Expenses	`NonoperatingIncomeExpense`	$-95.15K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-914.70K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-44.45K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	42.38M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	41.62M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	42.38M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	41.62M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-914.70K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-44.45K	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$4.12K	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$3.09K	USD	1 Quarter
Loan Origination Cost Amortization	`AmortizationOfDeferredLoanOriginationFeesNet`	-	USD	1 Quarter
Loan Origination Cost Amortization	`AmortizationOfDeferredLoanOriginationFeesNet`	$-43.38K	USD	1 Quarter
Bad Debt	`ProvisionForOtherLosses`	$14.00	USD	1 Quarter
Bad Debt	`ProvisionForOtherLosses`	$55.00	USD	1 Quarter
Stock-based Compensation	`ShareBasedCompensation`	$142.60K	USD	1 Quarter
Stock-based Compensation	`ShareBasedCompensation`	$151.76K	USD	1 Quarter
Change in Right of Use Asset	`ChangeInRightOfUseAsset`	$-33.79K	USD	1 Quarter
Change in Right of Use Asset	`ChangeInRightOfUseAsset`	$-22.60K	USD	1 Quarter
Change in Lease Liability	`ChangeInLeaseLiability`	$-22.98K	USD	1 Quarter
Change in Lease Liability	`ChangeInLeaseLiability`	$-28.65K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-307.85K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-292.52K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$164.53K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$67.81K	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-46.33K	USD	1 Quarter
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-25.41K	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$137.94K	USD	1 Quarter
Accounts Payable and Accrued Expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$50.91K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$520.08K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-500.84K	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Cash received from Stock Options Exercised	`ProceedsFromStockOptionsExercised`	$41.25K	USD	1 Quarter
Cash received from Stock Options Exercised	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$41.25K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-459.59K	USD	1 Quarter
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$520.08K	USD	1 Quarter
Cash - Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.45M	USD	Point-in-time
Cash - Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$932.78K	USD	Point-in-time
Cash - Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.06M	USD	Point-in-time
Cash - Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.60M	USD	Point-in-time
Cash - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.45M	USD	Point-in-time
Cash - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$932.78K	USD	Point-in-time
Cash - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.06M	USD	Point-in-time
Cash - End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.60M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$118.12K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$5.12K	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$2.71M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-275.49K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$455.36K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$2.61M	USD	Point-in-time
Exercised Stock Options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$41.25K	USD	1 Quarter
Exercised Stock Options	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	1 Quarter
Exercised Stock Options, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	287,500.00	shares	1 Quarter
Stock Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$142.60K	USD	1 Quarter
Stock Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$151.76K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-914.70K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-44.45K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$2.71M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-275.49K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$455.36K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$2.61M	USD	Point-in-time

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