10-Q Filing

MITESCO, INC. CIK: 802257 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001575705-15-000046`
Period End Date	20150331
Filing Date	20150520
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	tntyob-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 26 Cash Flow Statement 60 Stockholders Equity 14

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash	`Cash`	$14.12K	USD	Point-in-time
Cash	`Cash`	$16.52K	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$24.44K	USD	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNet`	$3.02K	USD	Point-in-time
Debt issuance costs and other assets	`DeferredCostsAndOtherAssets`	$41.55K	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Debt issuance costs and other assets	`DeferredCostsAndOtherAssets`	$45.90K	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
Prepaid, expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$132.70K	USD	Point-in-time
Prepaid, expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$107.49K	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
Total current assets	`AssetsCurrent`	$170.53K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$215.21K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	54.80M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	54.80M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	54.80M	shares	Point-in-time
Fixtures and equipment	`FixturesAndEquipmentGross`	$76.09K	USD	Point-in-time
Fixtures and equipment	`FixturesAndEquipmentGross`	$76.09K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	54.80M	shares	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$56.38K	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$59.27K	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$19.72K	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$16.83K	USD	Point-in-time
Costs incurred	`CapitalizedComputerSoftwareGross`	$4.23M	USD	Point-in-time
Costs incurred	`CapitalizedComputerSoftwareGross`	$4.28M	USD	Point-in-time
Less accumulated amortization	`CapitalizedComputerSoftwareAccumulatedAmortization`	$3.59M	USD	Point-in-time
Less accumulated amortization	`CapitalizedComputerSoftwareAccumulatedAmortization`	$3.46M	USD	Point-in-time
Total capitalized software development costs, net	`CapitalizedComputerSoftwareNet`	$688.18K	USD	Point-in-time
Total capitalized software development costs, net	`CapitalizedComputerSoftwareNet`	$774.41K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$964.65K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$920.22K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$984.84K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.01M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$297.36K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$196.09K	USD	Point-in-time
Accrued interest	`AccruedInterest`	$157.93K	USD	Point-in-time
Accrued interest	`AccruedInterest`	$106.27K	USD	Point-in-time
Debentures Series A, B, C, D, E and F, net	`ConvertibleDebtCurrent`	$1.62M	USD	Point-in-time
Debentures Series A, B, C, D, E and F, net	`ConvertibleDebtCurrent`	$1.46M	USD	Point-in-time
Convertible debenture, net	`ConvertibleNotesPayableCurrent`	$122.59K	USD	Point-in-time
Convertible debenture, net	`ConvertibleNotesPayableCurrent`	$115.46K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$324.17K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$298.06K	USD	Point-in-time
Convertible promissory note, net	`ConvertibleNotesPayable`	$48.70K	USD	Point-in-time
Convertible promissory note, net	`ConvertibleNotesPayable`	$45.09K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.23M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.23M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.56M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock $0.0001 par value- 50,000,000 shares authorized; None issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock $0.0001 par value- 50,000,000 shares authorized; None issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value - 200,000,000 shares authorized, 54,803,131 and 54,803,131 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$5.48K	USD	Point-in-time
Common stock, $0.0001 par value - 200,000,000 shares authorized, 54,803,131 and 54,803,131 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$5.48K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$14.22M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$14.47M	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$17.97K	USD	Point-in-time
Other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$16.70K	USD	Point-in-time
Accumulated Deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$16.51M	USD	Point-in-time
Accumulated Deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$17.13M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-2.26M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-2.64M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$964.65K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$920.22K	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$118.68K	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$60.43K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$62.13K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$48.67K	USD	1 Quarter
Gross Profit	`GrossProfit`	$56.55K	USD	1 Quarter
Gross Profit	`GrossProfit`	$11.76K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$194.70K	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`	$252.27K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.04M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$446.96K	USD	1 Quarter
Loss from Operations	`IncomeLossFromContinuingOperations`	$-390.41K	USD	1 Quarter
Loss from Operations	`IncomeLossFromContinuingOperations`	$-1.03M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$94.47K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$232.06K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-622.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$9.88K	USD	1 Quarter
Foreign currency translation adjustments	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.27K	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-623.75K	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-1.11M	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.01	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Weighted Average Number of Shares Outstanding During the Period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	54.80M	shares	1 Quarter
Weighted Average Number of Shares Outstanding During the Period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	46.72M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-622.47K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$136.52K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$135.40K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$176.32K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$45.87K	USD	1 Quarter
Accretion for debt discounts and issuance costs	`AccretionExpense`	$65.90K	USD	1 Quarter
Accretion for debt discounts and issuance costs	`AccretionExpense`	$178.26K	USD	1 Quarter
Shares issued in exchange or services	`SharesIssuedInExchangeForServices`	-	USD	1 Quarter
Shares issued in exchange or services	`SharesIssuedInExchangeForServices`	$-20.75K	USD	1 Quarter
Fair value of embedded conversion feature	`EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet`	$-637.00	USD	1 Quarter
Fair value of embedded conversion feature	`EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-790.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$21.42K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.41K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$25.22K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$151.10K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$29.32K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-2.90K	USD	1 Quarter
Accrued interest and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-61.09K	USD	1 Quarter
Accrued interest and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$148.79K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-17.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-26.11K	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	-	USD	1 Quarter
Deferred rent	`IncreaseDecreaseInOtherDeferredLiability`	$1.88K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-657.24K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-154.05K	USD	1 Quarter
Payment for patent application	`PaymentForPatentApplication`	$1.40K	USD	1 Quarter
Payment for patent application	`PaymentForPatentApplication`	-	USD	1 Quarter
Payment of platform development costs	`PaymentsToDevelopSoftware`	$46.28K	USD	1 Quarter
Payment of platform development costs	`PaymentsToDevelopSoftware`	$136.46K	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-136.46K	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-47.68K	USD	1 Quarter
Proceeds from issuance of debenture	`ProceedsFromIssuanceOfMediumTermNotes`	-	USD	1 Quarter
Proceeds from issuance of debenture	`ProceedsFromIssuanceOfMediumTermNotes`	$200.00K	USD	1 Quarter
Proceeds from notes payable related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Proceeds from notes payable related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$4.14K	USD	1 Quarter
Repayments on notes payable and interest on convertible debt to related parties	`RepaymentOfNotesReceivableFromRelatedParties`	-	USD	1 Quarter
Repayments on notes payable and interest on convertible debt to related parties	`RepaymentOfNotesReceivableFromRelatedParties`	$-252.00	USD	1 Quarter
Proceeds from convertible promissory notes, net of issuance costs	`ProceedsFromConvertibleDebt`	$100.00K	USD	1 Quarter
Proceeds from convertible promissory notes, net of issuance costs	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$45.00K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$144.75K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$204.14K	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`	$2.40K	USD	1 Quarter
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$14.12K	USD	Point-in-time
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$812.06K	USD	Point-in-time
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$163.11K	USD	Point-in-time
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$16.52K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$14.12K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$812.06K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$163.11K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$16.52K	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
Discount cost related to issuance of debentures, warrants and convertible notes	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$202.92K	USD	1 Quarter
Discount cost related to issuance of debentures, warrants and convertible notes	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	-	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance beginning	`StockholdersEquity`	$-2.26M	USD	Point-in-time
Balance beginning	`StockholdersEquity`	$-2.64M	USD	Point-in-time
Balance beginning, Shares	`CommonStockSharesOutstanding`	54.80M	shares	Point-in-time
Balance beginning, Shares	`CommonStockSharesOutstanding`	54.80M	shares	Point-in-time
Sale of common stock, net of issuance costs	`SaleOfCommonStockNetOfIssuanceCosts`	-	USD	1 Quarter
Debt beneficial conversion feature for warrants	`DebtBeneficialConversionFeatureForWarrants`	$202.92K	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$45.87K	USD	1 Quarter
Foreign currency translation gain	`DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses`	$-1.27K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-622.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.12M	USD	1 Quarter
Balance ending	`StockholdersEquity`	$-2.26M	USD	Point-in-time
Balance ending	`StockholdersEquity`	$-2.64M	USD	Point-in-time
Balance ending, Shares	`CommonStockSharesOutstanding`	54.80M	shares	Point-in-time
Balance ending, Shares	`CommonStockSharesOutstanding`	54.80M	shares	Point-in-time

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