10-Q Filing

MITESCO, INC. CIK: 802257 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001575705-16-000133`
Period End Date	20160331
Filing Date	20160520
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	tntyob-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 40 Cash Flow Statement 48 Stockholders Equity 16

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.12K	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.88K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.52K	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.18K	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
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.35K	USD	Point-in-time
Prepaid expenses - related party	`PrepaidExpenseAndOtherAssetsCurrent`	$17.00K	USD	Point-in-time
Prepaid expenses - related party	`PrepaidExpenseAndOtherAssetsCurrent`	$4.25K	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
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$45.19K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.48K	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
TOTAL ASSETS	`Assets`	$33.48K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$45.19K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	12.40M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	11.77M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$471.20K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	11.77M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$414.46K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	12.40M	shares	Point-in-time
Accrued interest	`AccruedInterest`	$18.81K	USD	Point-in-time
Accrued interest	`AccruedInterest`	$14.92K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$13.32K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$63.47K	USD	Point-in-time
Convertible note payable, net of discount	`ConvertibleNotesPayable`	$29.60K	USD	Point-in-time
Convertible note payable, net of discount	`ConvertibleNotesPayable`	-	USD	Point-in-time
Debentures payable	`DebtCurrent`	$122.17K	USD	Point-in-time
Debentures payable	`DebtCurrent`	$122.17K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$705.24K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$564.87K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$705.24K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$564.87K	USD	Point-in-time
Commitments and Contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value - 10,000,000 shares authorized, none issued and outstanding as of March 31, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value - 10,000,000 shares authorized, none issued and outstanding as of March 31, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value - 500,000,000 shares authorized, 12,400,000 shares issued and outstanding at March 31, 2016; $0.01 par value - 500,000,000 shares authorized, 11,765,000 shares issued and outstanding at December 31, 2015	`CommonStockValue`	$124.00K	USD	Point-in-time
Common stock, $0.01 par value - 500,000,000 shares authorized, 12,400,000 shares issued and outstanding at March 31, 2016; $0.01 par value - 500,000,000 shares authorized, 11,765,000 shares issued and outstanding at December 31, 2015	`CommonStockValue`	$117.65K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$684.08K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.92K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-641.25K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.48M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-519.69K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-671.76K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$33.48K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$45.19K	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	-	USD	1 Quarter
Net Sales	`SalesRevenueNet`	-	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$832.37K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$832.37K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	-	USD	1 Quarter
Operating Loss from Continuing Operations	`OperatingIncomeLoss`	$-832.37K	USD	1 Quarter
Operating Loss from Continuing Operations	`OperatingIncomeLoss`	-	USD	1 Quarter
Interest expense, net	`InterestExpense`	$6.22K	USD	1 Quarter
Interest expense, net	`InterestExpense`	-	USD	1 Quarter
Loss From Continuing Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-838.59K	USD	1 Quarter
Loss From Continuing Operations before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Loss From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-838.59K	USD	1 Quarter
Net Loss From Continuing Operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net Loss from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
Net Loss from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-622.47K	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-1.27K	USD	1 Quarter
Comprehensive Loss from Discontinued Operations	`ComprehensiveLossFromDiscontinuedOperations`	$-623.75K	USD	1 Quarter
Comprehensive Loss from Discontinued Operations	`ComprehensiveLossFromDiscontinuedOperations`	-	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-838.59K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-622.47K	USD	1 Quarter
Comprehensive Net Loss	`ComprehensiveIncomeNetOfTax`	$-838.59K	USD	1 Quarter
Comprehensive Net Loss	`ComprehensiveIncomeNetOfTax`	$-623.75K	USD	1 Quarter
Net Loss from Continuing Operations Per Share - Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.07	USD	1 Quarter
Net Loss from Continuing Operations Per Share - Basic and Diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	1 Quarter
Net Loss from Discontinued Operations Per Share - Basic and Diluted	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Net Loss from Discontinued Operations Per Share - Basic and Diluted	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-1.15	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Net Loss Per Share - Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-1.15	USD	1 Quarter
Weighted Average Number of Shares Outstanding During the Period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	542,605.00	shares	1 Quarter
Weighted Average Number of Shares Outstanding During the Period - Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	12.06M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`ProfitLoss`	$-838.59K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-622.47K	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-622.47K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$12.28K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Accretion for debt discounts, warrants and issuance costs	`AccretionExpense`	$2.33K	USD	1 Quarter
Accretion for debt discounts, warrants and issuance costs	`AccretionExpense`	-	USD	1 Quarter
Shares issued for board of director compensation	`SharesIssuedForBoardOfDirectorCompensation`	$-290.00K	USD	1 Quarter
Shares issued for board of director compensation	`SharesIssuedForBoardOfDirectorCompensation`	-	USD	1 Quarter
Shares issued for consulting services	`SharesIssuedInExchangeForServices`	$-297.50K	USD	1 Quarter
Shares issued for consulting services	`SharesIssuedInExchangeForServices`	-	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$11.35K	USD	1 Quarter
Prepaid expenses - related party	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Prepaid expenses - related party	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-12.75K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$56.74K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	1 Quarter
Accrued interest and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$54.03K	USD	1 Quarter
Accrued interest and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	-	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-124.30K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	-	USD	1 Quarter
Proceeds from issuance of convertible note payable	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Proceeds from issuance of convertible note payable	`ProceedsFromConvertibleDebt`	$60.00K	USD	1 Quarter
Sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Sale of common stock, net of issuance costs	`ProceedsFromIssuanceOfCommonStock`	$54.00K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$114.00K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-154.05K	USD	1 Quarter
Investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-47.68K	USD	1 Quarter
Investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$204.14K	USD	1 Quarter
Financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net Increase in Cash and Cash Equivalents for Discontinued Operations	`NetCashProvidedByUsedInDiscontinuedOperations`	-	USD	1 Quarter
Net Increase in Cash and Cash Equivalents for Discontinued Operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$2.40K	USD	1 Quarter
Net Decrease in Cash and Cash Equivalents for Continuing Operations	`NetCashProvidedByUsedInContinuingOperations`	$-10.30K	USD	1 Quarter
Net Decrease in Cash and Cash Equivalents for Continuing Operations	`NetCashProvidedByUsedInContinuingOperations`	-	USD	1 Quarter
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$14.12K	USD	Point-in-time
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$17.88K	USD	Point-in-time
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$16.52K	USD	Point-in-time
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$28.18K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$14.12K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$17.88K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$16.52K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$28.18K	USD	Point-in-time
Discount cost related to issuance of convertible note payable	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$202.92K	USD	1 Quarter
Discount cost related to issuance of convertible note payable	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$32.58K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$-519.69K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-671.76K	USD	Point-in-time
Beginning Balance, Shares	`CommonStockSharesOutstanding`	11.77M	shares	Point-in-time
Beginning Balance, Shares	`CommonStockSharesOutstanding`	12.40M	shares	Point-in-time
Sale of common stock, net of issuance cost, Amount	`SaleOfCommonStockNetIssuanceCosts`	$54.00K	USD	1 Quarter
Shares issued to board members and consultants, Amount	`SharesIssuedToBoardMembersAndConsultantsAmount`	$587.50K	USD	1 Quarter
Common stock issued for convertible note payable, Amount	`ConversionOfStockAmountIssued1`	$16.36K	USD	1 Quarter
Common stock issued for convertible note payable, Shares	`ConversionOfStockSharesIssued1`	15,000.00	shares	1 Quarter
Discount related to issuance of note payable and allocated fair value to beneficial conversion feature	`DiscountRelatedToIssuanceOfNotePayableAndAllocatedFairValueToBeneficialConversionFeature`	$16.36K	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$12.28K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-838.59K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-622.47K	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquity`	$-519.69K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-671.76K	USD	Point-in-time
Ending Balance, Shares	`CommonStockSharesOutstanding`	11.77M	shares	Point-in-time
Ending Balance, Shares	`CommonStockSharesOutstanding`	12.40M	shares	Point-in-time

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