10-Q Filing

NextPlat Corp CIK: 1058307 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001521536-12-000377`
Period End Date	20120331
Filing Date	20120511
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	silv-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 45 Cash Flow Statement 94

Balance Sheet 42 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$10.67K	USD	Point-in-time
Cash	`Cash`	$15.05K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$21.35K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$39.95K	USD	Point-in-time
Debt issuance cost - current portion	`UnamortizedDebtIssuanceExpenseCurrent`	-	USD	Point-in-time
Debt issuance cost - current portion	`UnamortizedDebtIssuanceExpenseCurrent`	$517.00	USD	Point-in-time
Total Assets	`Assets`	$32.02K	USD	Point-in-time
Total Assets	`Assets`	$55.51K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$586.98K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$430.41K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Convertible debentures and notes payable, net of debt discount	`ConvertibleDebenturesNetOfDebtDiscount`	$108.82K	USD	Point-in-time
Convertible debentures and notes payable, net of debt discount	`ConvertibleDebenturesNetOfDebtDiscount`	$145.96K	USD	Point-in-time
Liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$112.40K	USD	Point-in-time
Liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$112.40K	USD	Point-in-time
Total Liabilities	`Liabilities`	$688.76K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Liabilities	`Liabilities`	$808.21K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	225.83M	shares	Point-in-time
Preferred stock, $0.0001 par value; 10,000,000 authorized, Series A, 3,000,000 issued and outstanding, Series B, none issued and outstanding, Series C, none issued and outstanding	`PreferredStockValue`	$300.00	USD	Point-in-time
Preferred stock, $0.0001 par value; 10,000,000 authorized, Series A, 3,000,000 issued and outstanding, Series B, none issued and outstanding, Series C, none issued and outstanding	`PreferredStockValue`	$300.00	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	253.03M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	225.83M	shares	Point-in-time
Common stock; $0.0001 par value; 750,000,000 shares authorized; 253,033,555 and 225,833,555 shares issued and outstanding as of March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$22.58K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	253.03M	shares	Point-in-time
Common stock; $0.0001 par value; 750,000,000 shares authorized; 253,033,555 and 225,833,555 shares issued and outstanding as of March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$25.30K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$44.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$47.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-41.95M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-41.95M	USD	Point-in-time
Accumulated deficit since inception of exploration stage (April 25, 2011)	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$2.83M	USD	Point-in-time
Accumulated deficit since inception of exploration stage (April 25, 2011)	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$6.66M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-633.25K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-776.19K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$55.51K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$32.02K	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueNet`	-	USD	1 Quarter
Net revenues	`SalesRevenueNet`	-	USD	Annual
Net revenues	`SalesRevenueNet`	-	USD	1 Quarter
Payroll expense and stock based compensation	`OtherLaborRelatedExpenses`	$9.00K	USD	1 Quarter
Payroll expense and stock based compensation	`OtherLaborRelatedExpenses`	$4.14M	USD	Annual
Payroll expense and stock based compensation	`OtherLaborRelatedExpenses`	$3.63M	USD	1 Quarter
Exploration cost	`ExplorationExpenseMining`	$167.31K	USD	Annual
Exploration cost	`ExplorationExpenseMining`	-	USD	1 Quarter
Exploration cost	`ExplorationExpenseMining`	$10.95K	USD	1 Quarter
Impaiment of mineral rights	`OtherAssetImpairmentCharges`	$500.00K	USD	Annual
Impaiment of mineral rights	`OtherAssetImpairmentCharges`	-	USD	1 Quarter
Impaiment of mineral rights	`OtherAssetImpairmentCharges`	-	USD	1 Quarter
Professional and consulting	`ProfessionalFees`	$70.99K	USD	1 Quarter
Professional and consulting	`ProfessionalFees`	$379.24K	USD	Annual
Professional and consulting	`ProfessionalFees`	$118.81K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$99.38K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$416.95K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$15.84K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.60M	USD	Annual
Total operating expenses	`OperatingExpenses`	$143.65K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.81M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.81M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-143.65K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.60M	USD	Annual
Gain from settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Gain from settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain from settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$28.24K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-381.55K	USD	Annual
Interest income (expense), net	`InterestIncomeExpenseNet`	$-296.83K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-20.22K	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-5.47M	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-680.94K	USD	Annual
Total other expenses	`OtherNonoperatingIncomeExpense`	$-1.06M	USD	Annual
Total other expenses	`OtherNonoperatingIncomeExpense`	$-5.74M	USD	1 Quarter
Total other expenses	`OtherNonoperatingIncomeExpense`	$-20.22K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.83M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-5.88M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-6.66M	USD	Annual
Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	Annual
Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic and Diluted	`WeightedAverageNumberOfSharesBasicAndDilutedOutstanding`	237.90M	shares	1 Quarter
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic and Diluted	`WeightedAverageNumberOfSharesBasicAndDilutedOutstanding`	181.65M	shares	1 Quarter
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic and Diluted	`WeightedAverageNumberOfSharesBasicAndDilutedOutstanding`	218.24M	shares	Annual

Cash Flow Statement 94 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.83M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.88M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.66M	USD	Annual
Amortization of prepaid expenses	`OtherAmortizationOfDeferredCharges`	-	USD	1 Quarter
Amortization of prepaid expenses	`OtherAmortizationOfDeferredCharges`	$95.03K	USD	Annual
Amortization of prepaid expenses	`OtherAmortizationOfDeferredCharges`	$45.57K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$5.21K	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$1.56K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$517.00	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$352.68K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$288.85K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$17.86K	USD	1 Quarter
Impaiment of mineral rights	`OtherAssetImpairmentCharges`	$500.00K	USD	Annual
Impaiment of mineral rights	`OtherAssetImpairmentCharges`	-	USD	1 Quarter
Impaiment of mineral rights	`OtherAssetImpairmentCharges`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-5.47M	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-680.94K	USD	Annual
Stock based consulting	`StockBasedConsulting`	-	USD	1 Quarter
Stock based consulting	`StockBasedConsulting`	$130.00K	USD	Annual
Stock based consulting	`StockBasedConsulting`	-	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	$373.65K	USD	Annual
Stock based compensation expense	`ShareBasedCompensation`	$41.52K	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	-	USD	1 Quarter
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$3.50M	USD	Annual
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$3.50M	USD	1 Quarter
Gain from settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Gain from settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain from settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$28.24K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-24.20K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-2.21K	USD	Annual
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$18.60K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$156.58K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$343.31K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$54.16K	USD	1 Quarter
Liabilities of discontinued operations	`LiabilitiesOfDiscontinuedOperations`	-	USD	1 Quarter
Liabilities of discontinued operations	`LiabilitiesOfDiscontinuedOperations`	-	USD	Annual
Liabilities of discontinued operations	`LiabilitiesOfDiscontinuedOperations`	$-15.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-94.38K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-685.66K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-89.54K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$550.00K	USD	Annual
Proceeds from exercise of stock warrants	`ProceedsFromWarrantExercises`	$125.00K	USD	1 Quarter
Proceeds from exercise of stock warrants	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from exercise of stock warrants	`ProceedsFromWarrantExercises`	-	USD	1 Quarter
Net proceeds from debentures	`ProceedsFromNotesPayable`	$90.00K	USD	1 Quarter
Net proceeds from debentures	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Net proceeds from debentures	`ProceedsFromNotesPayable`	$90.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$125.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$90.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$640.00K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.38K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-45.66K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$35.46K	USD	1 Quarter
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.05K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$129.51K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$94.05K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.67K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.33K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.05K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$129.51K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$94.05K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.67K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$56.33K	USD	Point-in-time
Interest	`InterestPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	Annual
Income Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Income Taxes	`IncomeTaxesPaid`	-	USD	Annual
Income Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Issuance of common stock in connection with acquisition of business	`IssuanceOfCommonStockInConnectionWithAcquisitionOfBusiness`	-	USD	1 Quarter
Issuance of common stock in connection with acquisition of business	`IssuanceOfCommonStockInConnectionWithAcquisitionOfBusiness`	-	USD	Annual
Issuance of common stock in connection with acquisition of business	`IssuanceOfCommonStockInConnectionWithAcquisitionOfBusiness`	-	USD	1 Quarter
Contributed capital in connection with an extinguishment of a convertible debenture	`ContributedCapitalInConnectionWithAnExtinguishmentOfAConvertibleDebenture`	$47.50K	USD	1 Quarter
Contributed capital in connection with an extinguishment of a convertible debenture	`ContributedCapitalInConnectionWithAnExtinguishmentOfAConvertibleDebenture`	$31.67K	USD	Annual
Contributed capital in connection with an extinguishment of a convertible debenture	`ContributedCapitalInConnectionWithAnExtinguishmentOfAConvertibleDebenture`	-	USD	1 Quarter
Issuance of common stock for convertible debentures	`DebtConversionOriginalDebtAmount1`	$505.00K	USD	Annual
Issuance of common stock for convertible debentures	`DebtConversionOriginalDebtAmount1`	$250.00K	USD	1 Quarter
Issuance of common stock for convertible debentures	`DebtConversionOriginalDebtAmount1`	$55.00K	USD	1 Quarter
Issuance of common stock for accrued director's fees	`IssuanceOfCommonStockForAccruedDirectorFees`	$10.00K	USD	1 Quarter
Issuance of common stock for accrued director's fees	`IssuanceOfCommonStockForAccruedDirectorFees`	-	USD	1 Quarter
Issuance of common stock for accrued director's fees	`IssuanceOfCommonStockForAccruedDirectorFees`	-	USD	Annual
Reclassification of derivative liability to equity	`ReclassificationOfDerivativeLiabilityToEquity`	$3.20M	USD	1 Quarter
Reclassification of derivative liability to equity	`ReclassificationOfDerivativeLiabilityToEquity`	-	USD	1 Quarter
Reclassification of derivative liability to equity	`ReclassificationOfDerivativeLiabilityToEquity`	$9.66M	USD	Annual
Issuance of common stock in connection with the transfer and conveyance of certain silver mining claim	`StockIssued1`	-	USD	1 Quarter
Issuance of common stock in connection with the transfer and conveyance of certain silver mining claim	`StockIssued1`	-	USD	1 Quarter
Issuance of common stock in connection with the transfer and conveyance of certain silver mining claim	`StockIssued1`	$500.00K	USD	Annual
Beneficial conversion feature and debt discount in connection with the issuance of convertible promissory notes	`DebtInstrumentConvertibleBeneficialConversionFeature`	$105.88K	USD	1 Quarter
Beneficial conversion feature and debt discount in connection with the issuance of convertible promissory notes	`DebtInstrumentConvertibleBeneficialConversionFeature`	-	USD	1 Quarter
Beneficial conversion feature and debt discount in connection with the issuance of convertible promissory notes	`DebtInstrumentConvertibleBeneficialConversionFeature`	$105.88K	USD	Annual

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