$BMTM
Bright Mountain Media, Inc.

2014 Q4 Form 10-Q Financial Statement

#000155335014001345 Filed on November 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $276.8K $151.8K
YoY Change 82.41% 2992.3%
Cost Of Revenue $115.5K
YoY Change 2766.09%
Gross Profit $90.23K $36.24K
YoY Change 149.0% 4032.04%
Gross Profit Margin 32.59% 23.88%
Selling, General & Admin $435.2K $295.0K
YoY Change 47.51%
% of Gross Profit 482.32% 814.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $435.2K $295.0K
YoY Change 47.51%
Operating Profit -$345.0K -$258.8K
YoY Change 33.3%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $7.00
YoY Change
Pretax Income -$345.0K -$258.8K
YoY Change 33.3% 1.62%
Income Tax
% Of Pretax Income
Net Earnings -$345.0K -$258.8K
YoY Change 33.31% -0.02%
Net Earnings / Revenue -124.61% -170.51%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 32.80M shares 32.94M shares 31.98M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $590.2K $380.1K $198.0K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $776.4K $651.2K
Prepaid Expenses
Receivables $4.110K $2.822K
Other Receivables
Total Short-Term Assets $1.457M $1.075M $474.2K
YoY Change -3.42% 126.69%
LONG-TERM ASSETS
Property, Plant & Equipment $38.07K $35.84K $31.13K
YoY Change 10.36% 15.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $12.58K $22.58K
YoY Change -14.42%
Total Long-Term Assets $493.9K $577.6K $27.64K
YoY Change 435.99% 1989.45%
TOTAL ASSETS
Total Short-Term Assets $1.457M $1.075M $474.2K
Total Long-Term Assets $493.9K $577.6K $27.64K
Total Assets $1.951M $1.653M $533.0K
YoY Change 21.87% 210.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $270.3K $208.7K $94.35K
YoY Change 47.82% 121.18%
Accrued Expenses $7.541K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $114.7K
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 $114.7K
Total Long-Term Liabilities
Total Liabilities $318.2K $224.1K $114.7K
YoY Change 51.63% 95.38%
SHAREHOLDERS EQUITY
Retained Earnings -$4.485M -$4.084M -$2.669M
YoY Change 50.79% 53.01%
Common Stock $6.076M $5.481M $3.090M
YoY Change 39.92% 77.42%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.501K $2.501K $2.501K
YoY Change 0.0% 0.0%
Treasury Stock Shares 360.0K shares 360.0K shares 360.0K shares
Shareholders Equity $1.633M $1.428M $418.2K
YoY Change
Total Liabilities & Shareholders Equity $1.951M $1.653M $533.0K
YoY Change 21.87% 210.06%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income -$345.0K -$258.8K
YoY Change 33.31% -0.02%
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

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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" margin-top: 0px; margin-bottom: 8.867px; font-family : Times New Roman; font-size: 10pt;"><strong>Use of Estimates</strong></p> <p style=" margin-top: 0px; margin-bottom: 8.867px; text-indent: 48px; font-family : Times New Roman; font-size: 10pt;">Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (&#147;GAAP&#148;). 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's judgment in its application. There are also areas in which management'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> </div>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" margin: 0px; font-family : Times New Roman; font-size: 10pt;"><strong>Sales Return Reserve Policy</strong></p> <p style=" margin: 0px; font-family : Times New Roman; font-size: 10pt;">&#160;</p> <p style=" margin: 0px; text-indent: 48px; font-family : Times New Roman; font-size: 10pt;">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> </div>
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us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style=" margin: 0px; font-family : Times New Roman; font-size: 10pt;"><strong>Risk and Uncertainty</strong></p> <p style=" margin: 0px; font-family : Times New Roman; font-size: 10pt;">&#160;</p> <p style=" margin: 0px; text-indent: 48px; font-family : Times New Roman; font-size: 10pt;">In accordance with the provisions of ASC <font>2014</font>-<font>10</font>, &#147;<em>Development Stage Entities (Topic <font>915</font>): Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic <font>810</font> Consolidation</em>&#148;, the Company is required to report significant risk and uncertainties that could significantly affect the amounts reported in the financial statements in the near term. &#160;The Company is required to disclose risks and uncertainty existing in the areas of (<font>1</font>) nature of operations, (<font>2</font>) use of estimates in the preparation of financial statements, (<font>3</font>) significant estimates, and (<font>4</font>) current vulnerability due to concentrations. &#160;The required disclosures are placed in diverse parts of these financial statements and notes.</p> </div>
bmaq Term Of Subscriptions Minimum
TermOfSubscriptionsMinimum
P1M
CY2014Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
66786 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
57221 USD
CY2014Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
30942 USD
CY2014Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
614944 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
42944 USD
CY2014Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
95761 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
53490 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
34901 USD
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
24023 USD
CY2014Q3 bmaq Investor Relations Consulting Agreement Term
InvestorRelationsConsultingAgreementTerm
P12M
CY2014Q3 bmaq Common Stock For Services Agreed To Issue
CommonStockForServicesAgreedToIssue
150000 shares
CY2014Q3 bmaq Common Stock For Services To Be Issued In Second Installment
CommonStockForServicesToBeIssuedInSecondInstallment
37500 shares
CY2014Q3 bmaq Common Stock For Services To Be Issued In Third Installment
CommonStockForServicesToBeIssuedInThirdInstallment
37500 shares
CY2014Q3 bmaq Common Stock For Services To Be Issued In First Installment
CommonStockForServicesToBeIssuedInFirstInstallment
37500 shares
CY2014Q3 bmaq Common Stock For Services To Be Issued In Fourth Installment
CommonStockForServicesToBeIssuedInFourthInstallment
37500 shares
CY2014Q3 bmaq Period Of Written Notice To Cancel Agreement
PeriodOFWrittenNoticeToCancelAgreement
P60D
CY2014Q3 bmaq Monthly Compensation For Services
MonthlyCompensationForServices
5000 USD
CY2014Q3 bmaq Period Of Common Stock For Services Agreed To Issue
PeriodOfCommonStockForServicesAgreedToIssue
P12M
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
50000 shares
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
0.50
CY2014Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
25000 shares
CY2014Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
12500 USD
CY2014Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
109041 USD
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1420000 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.23
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
495200 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
265000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.50
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.50
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1500000 shares
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.27
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
339984 USD
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.19
CY2014Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
248040 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
135000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
shares
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 Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
CY2014Q3 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
10000 shares
CY2014Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.75
CY2014Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
7500 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.80 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0038 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
bmaq Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
0.00 pure
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P4Y
CY2013 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M12D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y10M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y10M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2014Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 USD
CY2014Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
65377 USD
CY2013Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
716847 USD
dei Entity Registrant Name
EntityRegistrantName
Bright Mountain Acquisition Corp
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
32800734 shares
dei Entity Central Index Key
EntityCentralIndexKey
0001568385
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31

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