10-Q Filing

MITESCO, INC. CIK: 802257 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001575705-13-000015`
Period End Date	20130930
Filing Date	20131118
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	tntyob-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 52 Cash Flow Statement 58 Stockholders Equity 18

Balance Sheet 61 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
Cash	`Cash`	$13.72K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash	`Cash`	$1.57M	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	46.70M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.61K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$3.40K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	36.13M	shares	Point-in-time
Prepaid Expense	`PrepaidExpenseCurrent`	$12.70K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	46.70M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	36.13M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$15.34K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.58M	USD	Point-in-time
Fixtures and equipment	`FixturesAndEquipmentGross`	$178.35K	USD	Point-in-time
Fixtures and equipment	`FixturesAndEquipmentGross`	$203.54K	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$-153.21K	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$-125.62K	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentNet`	$52.73K	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentNet`	$50.33K	USD	Point-in-time
Costs incurred	`CapitalizedComputerSoftwareGross`	$3.49M	USD	Point-in-time
Costs incurred	`CapitalizedComputerSoftwareGross`	$3.11M	USD	Point-in-time
Less accumulated amortization	`CapitalizedComputerSoftwareAccumulatedAmortization`	$-2.80M	USD	Point-in-time
Less accumulated amortization	`CapitalizedComputerSoftwareAccumulatedAmortization`	$-2.46M	USD	Point-in-time
Capitalized software development costs	`CapitalizedComputerSoftwareNet`	$650.95K	USD	Point-in-time
Capitalized software development costs	`CapitalizedComputerSoftwareNet`	$691.00K	USD	Point-in-time
Debt issuance costs	`UnamortizedDebtIssuanceExpense`	$36.11K	USD	Point-in-time
Debt issuance costs	`UnamortizedDebtIssuanceExpense`	$60.30K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$779.32K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$619.30K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$451.44K	USD	Point-in-time
Accrued interest and other liabilities	`AccruedLiabilitiesCurrent`	$133.18K	USD	Point-in-time
Accrued interest and other liabilities	`AccruedLiabilitiesCurrent`	$133.24K	USD	Point-in-time
Notes payable-related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$70.76K	USD	Point-in-time
Convertible note payable	`ConvertibleNotesPayableCurrent`	$49.02K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$335.10K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$28.27K	USD	Point-in-time
Deferred rent, current portion	`DeferredRentCreditCurrent`	$5.91K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$906.50K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$919.71K	USD	Point-in-time
Deferred rent, long-term portion	`DeferredRentCreditNoncurrent`	$629.00	USD	Point-in-time
Debentures Series A and B, carrying value	`ConvertibleDebtNoncurrent`	$936.41K	USD	Point-in-time
Debentures Series A and B, carrying value	`ConvertibleDebtNoncurrent`	$776.01K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$937.04K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$776.01K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.86M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.68M	USD	Point-in-time
Common stock	`CommonStockValue`	$4.67K	USD	Point-in-time
Common stock	`CommonStockValue`	$3.61K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$8.44M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$12.27M	USD	Point-in-time
Other comprehensive gain (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.30K	USD	Point-in-time
Other comprehensive gain (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.73K	USD	Point-in-time
Accumulated Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$-9.34M	USD	Point-in-time
Accumulated Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$-11.77M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-903.19K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$502.38K	USD	Point-in-time
TOTAL LIABILTIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$2.36M	USD	Point-in-time
TOTAL LIABILTIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$779.32K	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$67.90K	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$124.32K	USD	3 Qtrs
Net Sales	`SalesRevenueNet`	$152.40K	USD	3 Qtrs
Net Sales	`SalesRevenueNet`	$80.62K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$31.44K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$42.32K	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$67.15K	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$23.46K	USD	1 Quarter
Gross Profit	`GrossProfit`	$49.18K	USD	1 Quarter
Gross Profit	`GrossProfit`	$44.43K	USD	1 Quarter
Gross Profit	`GrossProfit`	$82.00K	USD	3 Qtrs
Gross Profit	`GrossProfit`	$85.25K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$114.98K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$191.38K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$727.12K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$593.98K	USD	3 Qtrs
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$583.02K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$330.87K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$1.63M	USD	3 Qtrs
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$924.75K	USD	3 Qtrs
Operating Expenses	`OperatingExpenses`	$774.40K	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$445.84K	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$2.22M	USD	3 Qtrs
Operating Expenses	`OperatingExpenses`	$1.65M	USD	3 Qtrs
Loss From Operations	`PercentageRent`	$-396.67K	USD	1 Quarter
Loss From Operations	`PercentageRent`	$-1.57M	USD	3 Qtrs
Loss From Operations	`PercentageRent`	$-2.13M	USD	3 Qtrs
Loss From Operations	`PercentageRent`	$-729.97K	USD	1 Quarter
Interest expense	`InterestExpense`	$-95.24K	USD	1 Quarter
Interest expense	`InterestExpense`	$-300.55K	USD	3 Qtrs
Interest expense	`InterestExpense`	$-48.68K	USD	3 Qtrs
Interest expense	`InterestExpense`	$-48.68K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-1.62M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-825.20K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-2.43M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-445.35K	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$-9.96K	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$3.25K	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$-9.96K	USD	3 Qtrs
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$10.03K	USD	3 Qtrs
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-821.95K	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-1.63M	USD	3 Qtrs
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-2.24M	USD	3 Qtrs
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-455.31K	USD	1 Quarter
Net Income (Loss) per Share-Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Net Income (Loss) per Share-Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	1 Quarter
Net Income (Loss) per Share-Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.05	USD	3 Qtrs
Net Income (Loss) per Share-Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.06	USD	3 Qtrs
Weighted Average Numbe rof Shares-BasicandDiluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	41.48M	shares	3 Qtrs
Weighted Average Numbe rof Shares-BasicandDiluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	35.19M	shares	1 Quarter
Weighted Average Numbe rof Shares-BasicandDiluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	34.94M	shares	3 Qtrs
Weighted Average Numbe rof Shares-BasicandDiluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	46.59M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-1.62M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-825.20K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-2.43M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-445.35K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$604.73K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$367.17K	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$98.01K	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$65.02K	USD	3 Qtrs
Accretion for debt discounts and amortization of issuance costs	`AccretionExpense`	$17.12K	USD	3 Qtrs
Accretion for debt discounts and amortization of issuance costs	`AccretionExpense`	$202.72K	USD	3 Qtrs
Shares issued as a conversion of payables	`SharesIssuedAsAConversionOfPayables`	$57.50K	USD	3 Qtrs
Shares issued for services, Value	`StockIssuedDuringPeriodValueIssuedForServices`	$31.14K	USD	3 Qtrs
Change in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.79K	USD	3 Qtrs
Change in Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-65.44K	USD	3 Qtrs
Change in Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-12.70K	USD	3 Qtrs
Change in Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.46K	USD	3 Qtrs
Change in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.12K	USD	3 Qtrs
Change in Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-167.86K	USD	3 Qtrs
Change in Accrued interest and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-51.00	USD	3 Qtrs
Change in Accrued interest and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-164.30K	USD	3 Qtrs
Change in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$37.74K	USD	3 Qtrs
Change in Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$306.83K	USD	3 Qtrs
Change in Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-5.29K	USD	3 Qtrs
Change in Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-7.60K	USD	3 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.13M	USD	3 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.56M	USD	3 Qtrs
Purchase of fixed assets, net of disposal	`PaymentsToAcquirePropertyPlantAndEquipment`	$-26.49K	USD	3 Qtrs
Deposits for merger	`DepositsForMerger`	$-150.00K	USD	3 Qtrs
Payment of patent application	`PaymentOfPatentApplication`	$-5.00K	USD	3 Qtrs
Payment of platform development costs	`PaymentsToDevelopSoftware`	$-442.37K	USD	3 Qtrs
Payment of platform development costs	`PaymentsToDevelopSoftware`	$-378.33K	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-409.82K	USD	3 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-592.37K	USD	3 Qtrs
Proceeds from notes payable related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$534.08K	USD	3 Qtrs
Proceeds from notes payable related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$122.20K	USD	3 Qtrs
Repayments on notes payable related parties	`RepaymentOfNotesReceivableFromRelatedParties`	$-192.97K	USD	3 Qtrs
Repayments on notes payable related parties	`RepaymentOfNotesReceivableFromRelatedParties`	$-132.00K	USD	3 Qtrs
Payment of convertible note, net of proceeds	`ProceedsFromConvertibleDebt`	$-20.11K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$38.53K	USD	3 Qtrs
Proceeds from debentures, net of issuance costs	`ProceedsFromOtherDebt`	$424.08K	USD	3 Qtrs
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$-95.00K	USD	3 Qtrs
Sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$3.57M	USD	3 Qtrs
Sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$873.53K	USD	3 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$1.60M	USD	3 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$3.52M	USD	3 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.55M	USD	3 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-121.60K	USD	3 Qtrs
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$123.14K	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.53K	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$13.72K	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.57M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$123.14K	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.53K	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$13.72K	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.57M	USD	Point-in-time
Interest paid	`InterestPaid`	$22.14K	USD	3 Qtrs
Issuance of stock in acquisition of subsidiary	`StockIssuedDuringPeriodValueAcquisitions`	$325.00	USD	3 Qtrs
Conversion of debt to common stock shares	`ConversionOfDebtToCommonStockShares`	$32.01K	USD	3 Qtrs

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance, Value	`StockholdersEquity`	$-903.19K	USD	Point-in-time
Balance, Value	`StockholdersEquity`	$502.38K	USD	Point-in-time
Balance, Shares	`CommonStockSharesOutstanding`	46.70M	shares	Point-in-time
Balance, Shares	`CommonStockSharesOutstanding`	36.13M	shares	Point-in-time
Sale of common stock, net issuance costs, Value	`SaleOfCommonStockNetIssuanceCosts`	$3.61M	USD	3 Qtrs
Common stock issued upon conversion of trade and note payables, Value	`CommonStockIssuedUponConversionOfTradeAndNotePayables`	$57.50K	USD	3 Qtrs
Shares issued for services, Value	`StockIssuedDuringPeriodValueIssuedForServices`	$31.14K	USD	3 Qtrs
Exercise of common stock options, Value	`StockIssuedDuringPeriodValueStockOptionsExercised`	$38.53K	USD	3 Qtrs
Employee stock based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$98.01K	USD	3 Qtrs
Foreign currency translation gain	`DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses`	$10.03K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-1.62M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-825.20K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-2.43M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-445.35K	USD	1 Quarter
Balance, Value	`StockholdersEquity`	$-903.19K	USD	Point-in-time
Balance, Value	`StockholdersEquity`	$502.38K	USD	Point-in-time
Balance, Shares	`CommonStockSharesOutstanding`	46.70M	shares	Point-in-time
Balance, Shares	`CommonStockSharesOutstanding`	36.13M	shares	Point-in-time

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