$BMTM
Bright Mountain Media, Inc.

2015 Q3 Form 10-Q Financial Statement

#000155335015000827 Filed on August 11, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q2
Revenue $431.0K $48.10K $251.8K
YoY Change 55.69% -80.9% 144.11%
Cost Of Revenue $270.0K $179.9K
YoY Change 50.07% 119.57%
Gross Profit $157.8K $100.1K $71.88K
YoY Change 74.87% 39.32% 238.98%
Gross Profit Margin 36.61% 208.19% 28.55%
Selling, General & Admin $516.4K $487.5K $477.2K
YoY Change 18.67% 2.15% 9.93%
% of Gross Profit 327.3% 486.8% 663.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.122K $3.421K
YoY Change
% of Gross Profit 2.61% 3.42%
Operating Expenses $516.4K $487.5K $477.2K
YoY Change 18.67% 2.15% 9.93%
Operating Profit -$358.7K -$387.3K -$405.3K
YoY Change 3.97% -4.44% -1.84%
Interest Expense $493.00 $446.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$483.00 -$441.00 $14.00
YoY Change -7000.0% -3250.0%
Pretax Income -$359.1K -$387.8K -$405.3K
YoY Change 4.11% -4.33% -1.84%
Income Tax
% Of Pretax Income
Net Earnings -$359.1K -$387.8K -$405.3K
YoY Change 4.11% -4.33% -2.97%
Net Earnings / Revenue -83.32% -806.2% -160.97%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.01 -$0.01
COMMON SHARES
Basic Shares Outstanding 35.20M shares 33.90M shares 32.74M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $350.0K $290.0K
YoY Change
Cash & Equivalents $350.0K $289.4K $578.2K
Short-Term Investments
Other Short-Term Assets $80.00K $60.00K
YoY Change
Inventory $1.066M $996.2K $522.2K
Prepaid Expenses
Receivables $44.38K $13.32K $4.350K
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.550M $1.361M $1.141M
YoY Change 44.2% 19.28% 63.81%
LONG-TERM ASSETS
Property, Plant & Equipment $50.06K $38.59K $36.68K
YoY Change 39.65% 5.19% 31.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.55K $13.05K $14.70K
YoY Change -31.15% -11.24%
Total Long-Term Assets $815.0K $848.2K $393.5K
YoY Change 41.11% 115.57% 1902.95%
TOTAL ASSETS
Total Short-Term Assets $1.550M $1.361M $1.141M
Total Long-Term Assets $815.0K $848.2K $393.5K
Total Assets $2.365M $2.210M $1.535M
YoY Change 43.12% 43.97% 106.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $262.3K $277.1K $176.3K
YoY Change 25.7% 57.22% 168.87%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $20.00K $0.00
YoY Change
Total Short-Term Liabilities $280.0K $280.0K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $280.0K $280.0K
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $280.9K $279.8K $179.5K
YoY Change 25.33% 55.9% 99.02%
SHAREHOLDERS EQUITY
Retained Earnings -$5.566M -$5.207M -$3.739M
YoY Change 36.3% 39.27% 55.13%
Common Stock $7.600M $7.087M $5.070M
YoY Change 38.66% 39.77% 65.48%
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 $2.084M $1.930M $1.355M
YoY Change
Total Liabilities & Shareholders Equity $2.365M $2.210M $1.535M
YoY Change 43.12% 43.97% 106.22%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$359.1K -$387.8K -$405.3K
YoY Change 4.11% -4.33% -2.97%
Depreciation, Depletion And Amortization $4.122K $3.421K
YoY Change
Cash From Operating Activities -$420.0K -$370.0K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$20.00K -$100.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$20.00K -$100.0K
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 520.0K 310.0K
YoY Change
NET CHANGE
Cash From Operating Activities -420.0K -370.0K
Cash From Investing Activities -20.00K -100.0K
Cash From Financing Activities 520.0K 310.0K
Net Change In Cash 80.00K -160.0K
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$420.0K -$370.0K
Capital Expenditures -$20.00K -$100.0K
Free Cash Flow -$400.0K -$270.0K
YoY Change

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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 11pt; margin-top: 0px; margin-bottom: 8.867px;"><b>Organization and Nature of Operations</b></p> <p style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 11pt; margin: 0px; text-indent: 48px;">Bright Mountain Acquisition Corporation and subsidiaries, formerly known as Bright Mountain Holdings, Inc., and subsidiaries ("BMAQ" or the "Company," "we," "us," "our", "Bright Mountain") is a Florida corporation formed on May 20, 2010. Its wholly owned subsidiaries, Bright Mountain LLC, and The Bright Insurance Agency, LLC, were formed as Florida limited liability companies in May 2011.</p> <p style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 8pt; margin: 0px;"><br/></p> <p style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 11pt; margin: 0px; text-indent: 48px;">The Bright Insurance Agency, LLC was formerly known as Five Peaks, LLC. On September 25, 2013 Five Peaks, LLC filed Articles of Amendment to the Articles of Organization with the State of Florida to amend its entity name to The Bright Insurance Agency, LLC.</p> <p style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 8pt; margin: 0px;"><br/></p> <p style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 11pt; margin: 0px; text-indent: 48px;">The Company is a media holding company of online assets. &#160;We sell various products through our proprietary websites and retail location, and through third party e-commerce distributor portals. &#160;Our websites provide content designed to attract and retain targeted Internet audiences. &#160;We generate revenues from <font>two</font> segments, product sales and services. &#160;Services consists of advertising revenue and subscription revenue. &#160;Our advertising revenue is generated primarily through the display of paid listings as well as display advertisements appearing on our websites.</p> <p style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 8pt; margin: 0px;"><br/></p> <p style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; line-height: 11pt; margin: 0px; text-indent: 48px;">Our websites contain a number of sections with demographically oriented information including originally written news content, blogs, forums, career information, and video. &#160;Our websites are:</p> <p style="color: #000000; font-family: 'Times New Roman'; font-size: 13.3333330154419px; 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us-gaap Revenue Recognition Sales Returns
RevenueRecognitionSalesReturns
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CY2015Q2 us-gaap Impairment Of Intangible Assets Finitelived
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us-gaap Number Of Reportable Segments
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StockOptionPlanExpense
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AllocatedShareBasedCompensationExpense
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72091 USD
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dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Period End Date
DocumentPeriodEndDate
2015-06-30
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
Bright Mountain Acquisition Corp
dei Entity Central Index Key
EntityCentralIndexKey
0001568385
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Type
DocumentType
10-Q
dei Trading Symbol
TradingSymbol
BMAQ
CY2015Q3 dei Entity Common Stock Shares Outstanding
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