10-Q Filing

MITESCO, INC. CIK: 802257 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001575705-14-000042`
Period End Date	20140331
Filing Date	20140520
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	tntyob-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 26 Cash Flow Statement 54 Stockholders Equity 14

Balance Sheet 66 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`	$812.06K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash	`Cash`	$163.11K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	46.98M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$2.73K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	46.70M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$1.94K	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$41.64K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	46.98M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	46.70M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$50.04K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$856.43K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$215.09K	USD	Point-in-time
Fixtures and equipment	`FixturesAndEquipmentGross`	$210.17K	USD	Point-in-time
Fixtures and equipment	`FixturesAndEquipmentGross`	$210.17K	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$164.23K	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$173.13K	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$45.95K	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$37.04K	USD	Point-in-time
Costs incurred	`CapitalizedComputerSoftwareGross`	$3.63M	USD	Point-in-time
Costs incurred	`CapitalizedComputerSoftwareGross`	$3.77M	USD	Point-in-time
Less accumulated amortization	`CapitalizedComputerSoftwareAccumulatedAmortization`	$2.92M	USD	Point-in-time
Less accumulated amortization	`CapitalizedComputerSoftwareAccumulatedAmortization`	$3.05M	USD	Point-in-time
Total capitalized software development costs, net	`CapitalizedComputerSoftwareNet`	$725.01K	USD	Point-in-time
Total capitalized software development costs, net	`CapitalizedComputerSoftwareNet`	$716.16K	USD	Point-in-time
Debt issuance costs and other assets	`UnamortizedDebtIssuanceExpense`	$32.02K	USD	Point-in-time
Debt issuance costs and other assets	`UnamortizedDebtIssuanceExpense`	$22.94K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.65M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$545.42K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$394.32K	USD	Point-in-time
Accrued interest and other liabilities	`AccruedLiabilitiesCurrent`	$279.46K	USD	Point-in-time
Accrued interest and other liabilities	`AccruedLiabilitiesCurrent`	$218.38K	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Notes payable - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$252.00	USD	Point-in-time
Debentures Series A and B, carrying value	`ConvertibleDebtCurrent`	$1.04M	USD	Point-in-time
Debentures Series A and B, carrying value	`ConvertibleDebtCurrent`	$991.50K	USD	Point-in-time
Convertible note payable	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible note payable	`ConvertibleNotesPayableCurrent`	$100.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$315.85K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$298.85K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.20M	USD	Point-in-time
Deferred rent, long-term portion	`DeferredRentCreditNoncurrent`	$2.52K	USD	Point-in-time
Deferred rent, long-term portion	`DeferredRentCreditNoncurrent`	$4.40K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$4.40K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.52K	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.21M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.98M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value - 50,000,000 shares authorized; 46,984,255 and 46,697,891 shares issued and outstanding, respectively	`CommonStockValue`	$4.70K	USD	Point-in-time
Common stock, $0.0001 par value - 50,000,000 shares authorized; 46,984,255 and 46,697,891 shares issued and outstanding, respectively	`CommonStockValue`	$4.67K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$12.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$12.64M	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.65K	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$13.53K	USD	Point-in-time
Accumulated Deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$13.86M	USD	Point-in-time
Accumulated Deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$12.74M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-333.35K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.21M	USD	Point-in-time
TOTAL LIABILTIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$1.65M	USD	Point-in-time
TOTAL LIABILTIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$1.00M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$24.87K	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$60.43K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$48.67K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$12.37K	USD	1 Quarter
Gross Profit	`GrossProfit`	$11.76K	USD	1 Quarter
Gross Profit	`GrossProfit`	$12.50K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$329.61K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$365.04K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$676.26K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$337.07K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$666.68K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.04M	USD	1 Quarter
Loss From Operations	`IncomeLossFromContinuingOperations`	$-654.18K	USD	1 Quarter
Loss From Operations	`IncomeLossFromContinuingOperations`	$-1.03M	USD	1 Quarter
Interest expense	`InterestExpense`	$119.26K	USD	1 Quarter
Interest expense	`InterestExpense`	$94.47K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-773.45K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$3.53K	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$9.88K	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-1.11M	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-769.92K	USD	1 Quarter
Net Loss per Share - Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Net Loss per Share - Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Weighted average number of common shares - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	46.72M	shares	1 Quarter
Weighted average number of common shares - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	36.46M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-773.45K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$136.52K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$120.17K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$176.32K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$97.00K	USD	1 Quarter
Accretion for debt discounts and issuance costs	`AccretionExpense`	$86.98K	USD	1 Quarter
Accretion for debt discounts and issuance costs	`AccretionExpense`	$65.90K	USD	1 Quarter
Shares issued as a conversion of payables	`SharesIssuedAsConversionOfPayables`	-	USD	1 Quarter
Shares issued as a conversion of payables	`SharesIssuedAsConversionOfPayables`	$-57.50K	USD	1 Quarter
Shares issued in exchange for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-20.75K	USD	1 Quarter
Shares issued in exchange for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-1.14K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$25.12K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-790.00	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.41K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$64.23K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$151.10K	USD	1 Quarter
Accrued interest and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-61.09K	USD	1 Quarter
Accrued interest and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$87.15K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-17.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$113.90K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$1.88K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$-2.54K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-657.24K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-173.03K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.86K	USD	1 Quarter
Payment of platform development costs	`PaymentsToDevelopSoftware`	$107.15K	USD	1 Quarter
Payment of platform development costs	`PaymentsToDevelopSoftware`	$136.46K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-112.01K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-136.46K	USD	1 Quarter
Proceeds from notes payable related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$34.02K	USD	1 Quarter
Proceeds from notes payable related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Repayments on notes payable related parties	`RepaymentOfNotesReceivableFromRelatedParties`	$-252.00	USD	1 Quarter
Repayments on notes payable related parties	`RepaymentOfNotesReceivableFromRelatedParties`	$-14.90K	USD	1 Quarter
Proceeds from issuance of convertible note payable	`ProceedsFromConvertibleDebt`	$35.00K	USD	1 Quarter
Proceeds from issuance of convertible note payable	`ProceedsFromConvertibleDebt`	$100.00K	USD	1 Quarter
Sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$45.00K	USD	1 Quarter
Sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$248.75K	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$302.87K	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$144.75K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-648.96K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$17.84K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$31.56K	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`	$163.11K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$812.06K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$31.56K	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`	$163.11K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$812.06K	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$9.60K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance beginning	`StockholdersEquity`	$-333.35K	USD	Point-in-time
Balance beginning	`StockholdersEquity`	$-1.21M	USD	Point-in-time
Balance beginning, Shares	`CommonStockSharesOutstanding`	46.98M	shares	Point-in-time
Balance beginning, Shares	`CommonStockSharesOutstanding`	46.70M	shares	Point-in-time
Sale of common stock, net of issuance costs	`SaleOfCommonStockNetIssuanceCosts`	$45.00K	USD	1 Quarter
Warrants issued for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$20.75K	USD	1 Quarter
Employee stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$176.32K	USD	1 Quarter
Foreign currency translation gain	`DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses`	$9.88K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-773.45K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Balance ending	`StockholdersEquity`	$-333.35K	USD	Point-in-time
Balance ending	`StockholdersEquity`	$-1.21M	USD	Point-in-time
Balance ending, Shares	`CommonStockSharesOutstanding`	46.98M	shares	Point-in-time
Balance ending, Shares	`CommonStockSharesOutstanding`	46.70M	shares	Point-in-time

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