10-K Filing

DIGITALTOWN, INC. CIK: 1065598 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001640334-18-001189`
Period End Date	20180228
Filing Date	20180614
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	dgtw-20180228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 26 Cash Flow Statement 82 Stockholders Equity 26

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Cash	`Cash`	$539.24K	USD	Point-in-time
Cash	`Cash`	$58.71K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	84.51M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$25.61K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	52.61M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$12.09K	USD	Point-in-time
Short term investment	`ShortTermInvestments`	-	USD	Point-in-time
Short term investment	`ShortTermInvestments`	$10.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	84.51M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	52.61M	shares	Point-in-time
Prepaid domain name renewal fees	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$105.78K	USD	Point-in-time
Prepaid domain name renewal fees	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$77.98K	USD	Point-in-time
Prepaid insurance	`PrepaidInsurance`	$3.10K	USD	Point-in-time
Prepaid insurance	`PrepaidInsurance`	$21.20K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$691.83K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$161.88K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$22.43K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.81K	USD	Point-in-time
Total assets	`Assets`	$184.31K	USD	Point-in-time
Total assets	`Assets`	$693.64K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$214.70K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$166.85K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$458.12K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$10.61K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$170.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$190.00K	USD	Point-in-time
Domain marketing development obligation	`DomainMarketingDevelopmentObligation`	$145.91K	USD	Point-in-time
Domain marketing development obligation	`DomainMarketingDevelopmentObligation`	-	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$34.78K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	-	USD	Point-in-time
Accrued expenses - related parties	`OtherAccruedLiabilitiesNoncurrent`	$280.90K	USD	Point-in-time
Accrued expenses - related parties	`OtherAccruedLiabilitiesNoncurrent`	$552.98K	USD	Point-in-time
Notes payable - related parties	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	-	USD	Point-in-time
Notes payable - related parties	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$105.48K	USD	Point-in-time
Notes payable - third parties, net	`NotesPayableThirdPartiesNet`	$30.55K	USD	Point-in-time
Notes payable - third parties, net	`NotesPayableThirdPartiesNet`	-	USD	Point-in-time
Convertible note payable - related party	`ConvertibleNotesPayableCurrent`	$468.49K	USD	Point-in-time
Convertible note payable - related party	`ConvertibleNotesPayableCurrent`	$400.00K	USD	Point-in-time
Convertible notes payable - third parties, net	`ConvertibleNotesPayableThirdPartiesNet`	$118.66K	USD	Point-in-time
Convertible notes payable - third parties, net	`ConvertibleNotesPayableThirdPartiesNet`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.05M	USD	Point-in-time
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 84,509,824 and 52,606,000 shares issued and outstanding at February 28, 2018 and February 28, 2017, respectively	`CommonStockValue`	$845.10K	USD	Point-in-time
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 84,509,824 and 52,606,000 shares issued and outstanding at February 28, 2018 and February 28, 2017, respectively	`CommonStockValue`	$526.06K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$43.70M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$34.33M	USD	Point-in-time
Stock payable	`CommonStockSharesSubscriptions`	$2.22M	USD	Point-in-time
Stock payable	`CommonStockSharesSubscriptions`	$3.43M	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	-	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$5.10K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.87K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-38.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-48.89M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.12M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-354.72K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$693.64K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$184.31K	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$327.33K	USD	Annual
Revenues	`Revenues`	$165.99K	USD	Annual
Cost of revenues	`CostOfRevenue`	$1.03M	USD	Annual
Cost of revenues	`CostOfRevenue`	$473.06K	USD	Annual
Gross loss	`GrossProfit`	$-704.01K	USD	Annual
Gross loss	`GrossProfit`	$-307.06K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.17M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.44M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-5.48M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-8.15M	USD	Annual
Impairment expense	`ExplorationAbandonmentAndImpairmentExpense`	$1.73M	USD	Annual
Impairment expense	`ExplorationAbandonmentAndImpairmentExpense`	$1.72M	USD	Annual
Interest expense	`InterestExpense`	$19.04K	USD	Annual
Interest expense	`InterestExpense`	$374.33K	USD	Annual
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$1.74M	USD	Annual
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$2.10M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-7.22M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-10.24M	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-7.22M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.24M	USD	Annual
Net loss per common share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.17	USD	Annual
Net loss per common share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.16	USD	Annual
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	61.79M	shares	Annual
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	44.84M	shares	Annual

Cash Flow Statement 82 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-7.22M	USD	Annual
Net loss	`NetIncomeLoss`	$-10.24M	USD	Annual
Loss on conversion of debt and accrued expenses	`LossOnConversionOfDebtAndAccruedExpenses`	-	USD	Annual
Loss on conversion of debt and accrued expenses	`LossOnConversionOfDebtAndAccruedExpenses`	$329.53K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$70.93K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.80K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$114.83K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Debt discount amortization	`AmortizationOfDebtDiscountPremium`	$276.26K	USD	Annual
Debt discount amortization	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Loss on acquisition of Appointment.com	`LossOnAcquisitionOfAppointment.com`	-	USD	Annual
Loss on acquisition of Appointment.com	`LossOnAcquisitionOfAppointment.com`	$853.96K	USD	Annual
Impairment expense	`ExplorationAbandonmentAndImpairmentExpense`	$1.73M	USD	Annual
Impairment expense	`ExplorationAbandonmentAndImpairmentExpense`	$1.72M	USD	Annual
Imputed interest	`ImputedInterest`	$19.04K	USD	Annual
Imputed interest	`ImputedInterest`	$66.26K	USD	Annual
Stock based compensation	`EmployeeBenefitsAndShareBasedCompensation`	$2.46M	USD	Annual
Stock based compensation	`EmployeeBenefitsAndShareBasedCompensation`	$3.52M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$13.52K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-102.01K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-104.19K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$35.89K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$40.54K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$91.33K	USD	Annual
Accounts payable - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$447.51K	USD	Annual
Accounts payable - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-131.84K	USD	Annual
Accrued expenses - related parties	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$158.56K	USD	Annual
Accrued expenses - related parties	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$428.85K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-20.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$190.00K	USD	Annual
Domain marketing development obligation	`DomainMarketingDevelopmentObligations`	$145.91K	USD	Annual
Domain marketing development obligation	`DomainMarketingDevelopmentObligations`	-	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.16M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.93M	USD	Annual
Cash paid for office equipment	`EquipmentExpense`	-	USD	Annual
Cash paid for office equipment	`EquipmentExpense`	$26.16K	USD	Annual
Cash paid for domain names	`PaymentsToAcquireProductiveAssets`	$69.50K	USD	Annual
Cash paid for domain names	`PaymentsToAcquireProductiveAssets`	-	USD	Annual
Cash received from Comencia acquisition	`CashReceivedFromComenciaAcquisition`	-	USD	Annual
Cash received from Comencia acquisition	`CashReceivedFromComenciaAcquisition`	$11.99K	USD	Annual
Cash received from Reserve	`CashReceivedFromReserve`	$-34.26K	USD	Annual
Cash received from Reserve	`CashReceivedFromReserve`	-	USD	Annual
Cash received from Appointment.com	`CashReceivedFromAppointment.com`	-	USD	Annual
Cash received from Appointment.com	`CashReceivedFromAppointment.com`	$-2.24K	USD	Annual
Cash paid for Congo acquisition	`CashPaidForCongoAcquisition`	-	USD	Annual
Cash paid for Congo acquisition	`CashPaidForCongoAcquisition`	$125.00K	USD	Annual
Cash paid for Cloud.Market	`CashPaidForCloud.market`	$7.50K	USD	Annual
Cash paid for Cloud.Market	`CashPaidForCloud.market`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-40.50K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-139.17K	USD	Annual
Borrowings from convertible note	`RepaymentsOfConvertibleDebt`	-	USD	Annual
Borrowings from convertible note	`RepaymentsOfConvertibleDebt`	$-735.00K	USD	Annual
Borrowings from promissory note	`BorrowingsFromPromissoryNote`	-	USD	Annual
Borrowings from promissory note	`BorrowingsFromPromissoryNote`	$-450.00K	USD	Annual
Payments on promissory note	`PaymentsOnPromissoryNote`	$30.00K	USD	Annual
Payments on promissory note	`PaymentsOnPromissoryNote`	-	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.38M	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.66M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.38M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.82M	USD	Annual
Foreign currency translation adjustment	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$3.23K	USD	Annual
Foreign currency translation adjustment	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$1.87K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-480.53K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$404.77K	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$134.47K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$58.71K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$539.24K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$134.47K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$58.71K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$539.24K	USD	Point-in-time
Issuance of common stock for domain names	`ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan`	$154.74K	USD	Annual
Issuance of common stock for domain names	`ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan`	-	USD	Annual
Issuance of common stock for stock payable	`IssuanceOfCommonStockForStockPayable`	$2.56M	USD	Annual
Issuance of common stock for stock payable	`IssuanceOfCommonStockForStockPayable`	-	USD	Annual
Beneficial conversion feature	`DebtInstrumentConvertibleBeneficialConversionFeature`	-	USD	Annual
Beneficial conversion feature	`DebtInstrumentConvertibleBeneficialConversionFeature`	$450.25K	USD	Annual
Debt discount from warrants	`DebtDiscountFromWarrants`	-	USD	Annual
Debt discount from warrants	`DebtDiscountFromWarrants`	$450.00K	USD	Annual
Conversion of debt to common stock	`ConversionOfDebtToCommonStock`	-	USD	Annual
Conversion of debt to common stock	`ConversionOfDebtToCommonStock`	$210.00K	USD	Annual
Conversion of accrued expenses to stock	`ConversionOfAccruedExpensesToStock`	-	USD	Annual
Conversion of accrued expenses to stock	`ConversionOfAccruedExpensesToStock`	$121.99K	USD	Annual

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.12M	USD	Point-in-time
Beginning balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-15.53K	USD	Point-in-time
Beginning balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-354.72K	USD	Point-in-time
Common stock issued for cash, Amount	`StockIssuedDuringPeriodValueOther`	$2.38M	USD	Annual
Common stock issued for cash, Amount	`StockIssuedDuringPeriodValueOther`	$1.66M	USD	Annual
Common stock issued for stock payable, Amount	`CommonStockIssuedForStockPayableAmount`	-	USD	Annual
Stock issued for compensation, Amount	`StockIssuedForCompensationAmount`	$2.75M	USD	Annual
Stock issued for compensation, Amount	`StockIssuedForCompensationAmount`	$2.44M	USD	Annual
Stock issued for acquisitions, Amount	`StockIssuedDuringPeriodValueAcquisitions`	$2.41M	USD	Annual
Stock issued for acquisitions, Amount	`StockIssuedDuringPeriodValueAcquisitions`	$1.87M	USD	Annual
Conversion of debt	`DebtConversionOriginalDebtAmount1`	$223.00K	USD	Annual
Stock issued for domain names, Amount	`StockIssuedForDomainNamesAmount`	$154.74K	USD	Annual
Exercise of stock options, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$11.95K	USD	Annual
Exercise of stock options, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$20.00K	USD	Annual
Conversion of accrued expenses	`ConversionOfAccruedExpenses`	$441.51K	USD	Annual
Warrants issued with debt	`WarrantsIssuedWithDebt`	$450.00K	USD	Annual
BCF	`Bcf`	$450.25K	USD	Annual
Imputed interest	`ImputedInterest`	$19.04K	USD	Annual
Imputed interest	`ImputedInterest`	$66.26K	USD	Annual
Accumulated other comprehensive income	`OtherComprehensiveIncomeLossTax`	$1.87K	USD	Annual
Accumulated other comprehensive income	`OtherComprehensiveIncomeLossTax`	$3.23K	USD	Annual
Net Loss	`NetIncomeLoss`	$-7.22M	USD	Annual
Net Loss	`NetIncomeLoss`	$-10.24M	USD	Annual
Ending balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.12M	USD	Point-in-time
Ending balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-15.53K	USD	Point-in-time
Ending balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-354.72K	USD	Point-in-time

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