10-Q Filing

DIGITALTOWN, INC. CIK: 1065598 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001640334-18-001416`
Period End Date	20180531
Filing Date	20180719
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	dgtw-20180531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 25 Cash Flow Statement 63

Balance Sheet 66 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`	$20.51K	USD	Point-in-time
Cash	`Cash`	$58.71K	USD	Point-in-time
Digital currencies	`DigitalCurrencies`	$1.38M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	84.51M	shares	Point-in-time
Digital currencies	`DigitalCurrencies`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	125.75M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$12.09K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$11.38K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	84.51M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	125.75M	shares	Point-in-time
Short term investment	`ShortTermInvestments`	$10.00K	USD	Point-in-time
Short term investment	`ShortTermInvestments`	$10.00K	USD	Point-in-time
Prepaid domain name renewal fees	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$77.98K	USD	Point-in-time
Prepaid domain name renewal fees	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$42.45K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$10.87K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.10K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$161.88K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.48M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$20.47K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$22.43K	USD	Point-in-time
Total assets	`Assets`	$1.50M	USD	Point-in-time
Total assets	`Assets`	$184.31K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$302.70K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$214.70K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$886.53K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedPartiesCurrent`	$458.12K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$170.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$170.00K	USD	Point-in-time
Domain marketing development obligation	`DomainMarketingDevelopmentObligation`	$145.91K	USD	Point-in-time
Domain marketing development obligation	`DomainMarketingDevelopmentObligation`	$192.87K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$10.50K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$34.78K	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesNoncurrent`	$552.98K	USD	Point-in-time
Accrued expenses	`OtherAccruedLiabilitiesNoncurrent`	$542.07K	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`	-	USD	Point-in-time
Notes payable - third parties, net	`NotesPayableThirdPartiesNet`	$30.55K	USD	Point-in-time
Convertible notes payable - related parties	`ConvertibleNotesPayableCurrent`	$468.49K	USD	Point-in-time
Convertible notes payable - related parties	`ConvertibleNotesPayableCurrent`	$120.00K	USD	Point-in-time
Convertible notes payable - third parties, net	`ConvertibleNotesPayableThirdPartiesNet`	$101.10K	USD	Point-in-time
Convertible notes payable - third parties, net	`ConvertibleNotesPayableThirdPartiesNet`	$118.66K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.33M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 125,749,320 and 84,509,824 shares issued and outstanding at May 31, 2018 and February 28, 2018, respectively	`CommonStockValue`	$1.26M	USD	Point-in-time
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 125,749,320 and 84,509,824 shares issued and outstanding at May 31, 2018 and February 28, 2018, respectively	`CommonStockValue`	$845.10K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$43.70M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$49.25M	USD	Point-in-time
Stock payable	`CommonStockSharesSubscriptions`	-	USD	Point-in-time
Stock payable	`CommonStockSharesSubscriptions`	$2.22M	USD	Point-in-time
Subscriptions receivable	`StockholdersEquityNoteSubscriptionsReceivable`	-	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`	$-192.35K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-51.14M	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`	$-829.93K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.50M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$184.31K	USD	Point-in-time

Income Statement 25 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$80.27K	USD	1 Quarter
Revenues	`Revenues`	$86.22K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$98.61K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$525.33K	USD	1 Quarter
Gross loss	`GrossProfit`	$-439.11K	USD	1 Quarter
Gross loss	`GrossProfit`	$-18.34K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.07M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.22M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.66M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.09M	USD	1 Quarter
Interest expense	`InterestExpense`	$-9.72K	USD	1 Quarter
Interest expense	`InterestExpense`	$-593.41K	USD	1 Quarter
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$-9.72K	USD	1 Quarter
Total other income (expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$-593.41K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.10M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-2.26M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.26M	USD	1 Quarter
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.02	USD	1 Quarter
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.03	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55.06M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	86.88M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.26M	USD	1 Quarter
Depreciation expense	`Depreciation`	$1.84K	USD	1 Quarter
Depreciation expense	`Depreciation`	$1.30K	USD	1 Quarter
Debt discount amortization	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Imputed interest	`ImputedInterest`	$10.35K	USD	1 Quarter
Imputed interest	`ImputedInterest`	$12.12K	USD	1 Quarter
Stock based compensation	`EmployeeBenefitsAndShareBasedCompensation`	$346.07K	USD	1 Quarter
Stock based compensation	`EmployeeBenefitsAndShareBasedCompensation`	$436.41K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$706.00	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$17.69K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-27.01K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$24.76K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$88.12K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-17.93K	USD	1 Quarter
Accounts payable - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-765.00	USD	1 Quarter
Accounts payable - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$428.41K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-20.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$7.33K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$155.61K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Domain marketing development obligation	`DomainMarketingDevelopmentObligations`	$46.96K	USD	1 Quarter
Domain marketing development obligation	`DomainMarketingDevelopmentObligations`	-	USD	1 Quarter
Digital currencies	`IncreaseDecreaseInDigitalCurrencies`	$-15.88K	USD	1 Quarter
Digital currencies	`IncreaseDecreaseInDigitalCurrencies`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-662.44K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-635.92K	USD	1 Quarter
Cash received from sale of digital currencies	`ProceedsFromSaleOfDigitalCurrencies`	-	USD	1 Quarter
Cash received from sale of digital currencies	`ProceedsFromSaleOfDigitalCurrencies`	$98.66K	USD	1 Quarter
Cash paid for equipment	`PaymentsToAcquireMachineryAndEquipment`	$26.42K	USD	1 Quarter
Cash paid for equipment	`PaymentsToAcquireMachineryAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$98.66K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-26.42K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$566.95K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$162.50K	USD	1 Quarter
Payments on promissory note	`PaymentsOnPromissoryNote`	$40.00K	USD	1 Quarter
Payments on promissory note	`PaymentsOnPromissoryNote`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$526.95K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$162.50K	USD	1 Quarter
Foreign currency translation adjustment	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-1.38K	USD	1 Quarter
Foreign currency translation adjustment	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$3.53K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-496.32K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-38.21K	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$539.24K	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`	$42.92K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$20.51K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$539.24K	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`	$42.92K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$20.51K	USD	Point-in-time
Issuance of common stock for stock payable	`IssuanceOfCommonStockForStockPayable`	$1.51M	USD	1 Quarter
Issuance of common stock for stock payable	`IssuanceOfCommonStockForStockPayable`	$1.83M	USD	1 Quarter
Conversion of debt to common stock	`ConversionOfDebtToCommonStock`	-	USD	1 Quarter
Conversion of debt to common stock	`ConversionOfDebtToCommonStock`	$1.07M	USD	1 Quarter
Stock issued for digital currencies	`StockIssuedForDigitalCurrencies`	-	USD	1 Quarter
Stock issued for digital currencies	`StockIssuedForDigitalCurrencies`	$1.66M	USD	1 Quarter
Loss on digital currencies	`LossOnDigitalCurrencies`	-	USD	1 Quarter
Loss on digital currencies	`LossOnDigitalCurrencies`	$196.07K	USD	1 Quarter
Stock cancelled for sale of prepaid domains	`StockCancelledForSaleOfPrepaidDomains`	-	USD	1 Quarter
Stock cancelled for sale of prepaid domains	`StockCancelledForSaleOfPrepaidDomains`	$3.00K	USD	1 Quarter
Finders fee for stock issued	`FindersFeeForStockIssued`	-	USD	1 Quarter
Finders fee for stock issued	`FindersFeeForStockIssued`	$1.00K	USD	1 Quarter

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