$BMTM
Bright Mountain Media, Inc.

2014 Q3 Form 10-Q Financial Statement

#000155335014000909 Filed on August 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q2
Revenue $276.8K $251.8K $103.1K
YoY Change 82.41% 144.11% 3064.96%
Cost Of Revenue $179.9K $81.94K
YoY Change 119.57% 2996.83%
Gross Profit $90.23K $71.88K $21.20K
YoY Change 149.0% 238.98% 3359.05%
Gross Profit Margin 32.59% 28.55% 20.56%
Selling, General & Admin $435.2K $477.2K $434.1K
YoY Change 47.51% 9.93%
% of Gross Profit 482.32% 663.91% 2047.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $435.2K $477.2K $434.1K
YoY Change 47.51% 9.93%
Operating Profit -$345.0K -$405.3K -$412.9K
YoY Change 33.3% -1.84%
Interest Expense $4.798K
YoY Change
% of Operating Profit
Other Income/Expense, Net $7.00 $14.00
YoY Change
Pretax Income -$345.0K -$405.3K -$412.9K
YoY Change 33.3% -1.84% 43.26%
Income Tax
% Of Pretax Income
Net Earnings -$345.0K -$405.3K -$417.7K
YoY Change 33.31% -2.97% 44.93%
Net Earnings / Revenue -124.61% -160.97% -404.96%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 32.94M shares 32.74M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $380.1K $578.2K $531.2K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $651.2K $522.2K
Prepaid Expenses
Receivables $2.822K $4.350K
Other Receivables
Total Short-Term Assets $1.075M $1.141M $696.7K
YoY Change 126.69% 63.81%
LONG-TERM ASSETS
Property, Plant & Equipment $35.84K $36.68K $27.88K
YoY Change 15.14% 31.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $22.58K $14.70K
YoY Change
Total Long-Term Assets $577.6K $393.5K $19.65K
YoY Change 1989.45% 1902.95%
TOTAL ASSETS
Total Short-Term Assets $1.075M $1.141M $696.7K
Total Long-Term Assets $577.6K $393.5K $19.65K
Total Assets $1.653M $1.535M $744.2K
YoY Change 210.06% 106.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $208.7K $176.3K $65.56K
YoY Change 121.18% 168.87%
Accrued Expenses $21.55K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $90.17K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $90.17K
Total Long-Term Liabilities
Total Liabilities $224.1K $179.5K $90.17K
YoY Change 95.38% 99.02%
SHAREHOLDERS EQUITY
Retained Earnings -$4.084M -$3.739M -$2.410M
YoY Change 53.01% 55.13%
Common Stock $5.481M $5.070M $3.064M
YoY Change 77.42% 65.48%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.501K $2.501K
YoY Change 0.0%
Treasury Stock Shares 360.0K shares 360.0K shares
Shareholders Equity $1.428M $1.355M $654.1K
YoY Change
Total Liabilities & Shareholders Equity $1.653M $1.535M $744.2K
YoY Change 210.06% 106.22%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income -$345.0K -$405.3K -$417.7K
YoY Change 33.31% -2.97% 44.93%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN: 0px"><strong>Sales Return Reserve Policy</strong></p> <p style="MARGIN: 0px"><br /> </p> <p style="MARGIN: 0px; TEXT-INDENT: 48px">Our return policy generally allows our end users to return purchased products for refund or in exchange for new products. We estimate a reserve for sales returns, if any, and record that reserve amount as a reduction of sales and as a sales return reserve liability. Sales to consumers on our web site generally may be returned within a reasonable period of time.</p> <!--EndFragment--></div> </div>
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0.50
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
0.50
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
248040 USD
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
750600 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.17
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
100000 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
379980 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
495200 USD
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34668006 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1470000 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1420000 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.24
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.23
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y8M12D
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M12D
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.50
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.50
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
28497900 shares
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
35033234 shares
us-gaap Stock Dividends Shares
StockDividendsShares
21234 shares
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
1355276 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
1391025 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
109100 USD
CY2014Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
25000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
50000 shares
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
12500 USD
CY2014Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
12500 USD
us-gaap Stock Issued During Period Value Stock Dividend
StockIssuedDuringPeriodValueStockDividend
USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
25000 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
41325 USD
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
10159 USD
CY2014Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
360000 shares
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
360000 shares
CY2014Q2 us-gaap Treasury Stock Value
TreasuryStockValue
2501 USD
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
2501 USD
us-gaap Use Of Estimates
UseOfEstimates
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-BOTTOM: 8px; MARGIN-TOP: 0px"><strong>Use of Estimates</strong></p> <p style="MARGIN-BOTTOM: 8px; MARGIN-TOP: 0px; TEXT-INDENT: 48px"> Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States ("GAAP"). These accounting principles require management to make certain estimates, judgments, and assumptions. We believe that the estimates, judgments, and assumptions upon which we rely are reasonable based upon information available to us at the time that these estimates, judgments, and assumptions are made. These estimates, judgments, and assumptions can affect the reported amounts of assets and liabilities as of the date of our consolidated financial statements as well as reported amounts of revenue and expenses during the periods presented. Our consolidated financial statements would be affected to the extent there are material differences between these estimates and actual results. In many cases, the accounting treatment of a particular transaction is specifically dictated by GAAP and does not require management&#39;s judgment in its application. There are also areas in which management&#39;s judgment in selecting any available alternative would not produce a materially different result. Significant estimates included in the accompanying consolidated financial statements include the fair value of acquired assets for purchase price allocation in business combinations, valuation of inventory, valuation of intangible assets, estimates of amortization period for intangible assets, estimates of depreciation period for fixed assets, valuation of equity based transactions, and the valuation allowance on deferred tax assets.</p> <!--EndFragment--></div> </div>
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
29261000 shares

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