$FULO
FULLNET COMMUNICATIONS INC

2023 Q2 Form 10-Q Financial Statement

#000137647423000289 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $1.054M $1.047M $1.037M
YoY Change -0.8% -6.23% -5.63%
Cost Of Revenue $250.7K $244.6K $235.4K
YoY Change 16.54% 7.51% 3.7%
Gross Profit $803.1K $802.3K $801.6K
YoY Change -5.21% -9.75% -8.06%
Gross Profit Margin 76.21% 76.64% 77.3%
Selling, General & Admin $616.3K $627.2K $688.6K
YoY Change -1.77% 1.2% 2.73%
% of Gross Profit 76.73% 78.17% 85.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.130K $4.410K $4.440K
YoY Change -5.28% 72.94% 74.8%
% of Gross Profit 0.51% 0.55% 0.55%
Operating Expenses $620.4K $631.6K $693.1K
YoY Change -1.79% 1.49% 2.99%
Operating Profit $182.7K $170.7K $108.5K
YoY Change -15.23% -35.98% -45.45%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $41.07K $28.86K $55.59K
YoY Change 950.38% 7300.0% 34643.75%
Pretax Income $223.8K $199.6K $164.1K
YoY Change 1.97% -25.27% -17.57%
Income Tax $56.88K $50.92K $42.21K
% Of Pretax Income 25.42% 25.52% 25.72%
Net Earnings $166.9K $148.7K $102.7K
YoY Change 2.2% -25.32% -34.57%
Net Earnings / Revenue 15.84% 14.2% 9.9%
Basic Earnings Per Share $0.01 $0.01
Diluted Earnings Per Share $0.01 $0.01 $0.01
COMMON SHARES
Basic Shares Outstanding 19.57M shares 19.18M shares
Diluted Shares Outstanding 19.63M shares 19.68M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.018M $2.884M $2.754M
YoY Change 15.44% -2.69% 3.71%
Cash & Equivalents $3.018M $2.884M $2.754M
Short-Term Investments
Other Short-Term Assets $33.13K $43.51K $36.74K
YoY Change -55.68% -7.41% 47.31%
Inventory
Prepaid Expenses $33.13K $43.51K $36.74K
Receivables $5.671K $1.059K $1.580K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.057M $2.929M $2.792M
YoY Change 13.55% -2.75% 3.02%
LONG-TERM ASSETS
Property, Plant & Equipment $78.63K $82.76K $366.3K
YoY Change -16.69% -80.72% 525.01%
Goodwill $20.62K $20.94K $18.25K
YoY Change 12.96% -11.6%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.62K $20.94K $18.25K
YoY Change 12.99% 10.27% -69.07%
Total Long-Term Assets $312.9K $350.4K $384.5K
YoY Change -31.13% -21.82% -25.98%
TOTAL ASSETS
Total Short-Term Assets $3.057M $2.929M $2.792M
Total Long-Term Assets $312.9K $350.4K $384.5K
Total Assets $3.370M $3.279M $3.176M
YoY Change 7.09% -5.22% -1.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.26K $20.36K $19.00K
YoY Change -85.56% -59.32% -64.25%
Accrued Expenses $444.6K $435.4K $609.1K
YoY Change -3.08% -27.85% 31.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.697M $1.680M $1.629M
YoY Change -1.29% 1.46% 2.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $74.26K $110.2K $145.5K
YoY Change -65.25% -55.32% -47.88%
Total Long-Term Liabilities $74.26K $110.2K $145.5K
YoY Change -65.25% -55.32% -47.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.697M $1.680M $1.629M
Total Long-Term Liabilities $74.26K $110.2K $145.5K
Total Liabilities $1.771M $1.790M $1.775M
YoY Change -8.36% -5.9% -5.32%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $196.00 $192.00 $192.00
YoY Change 2.08% 12.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.598M $1.489M $1.402M
YoY Change
Total Liabilities & Shareholders Equity $3.370M $3.279M $3.176M
YoY Change 7.09% -5.22% -1.65%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $166.9K $148.7K $102.7K
YoY Change 2.2% -25.32% -34.57%
Depreciation, Depletion And Amortization $4.130K $4.410K $4.440K
YoY Change -5.28% 72.94% 74.8%
Cash From Operating Activities $193.0K $255.9K $26.46K
YoY Change -6.86% -29.16% -85.94%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $1.630K
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 -$1.630K
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $50.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -59.21K -$125.2K -7.580K
YoY Change -88.39% 144.75% -619.18%
NET CHANGE
Cash From Operating Activities 193.0K $255.9K 26.46K
Cash From Investing Activities 0.000 $0.00 -1.630K
Cash From Financing Activities -59.21K -$125.2K -7.580K
Net Change In Cash 133.7K $130.7K 17.25K
YoY Change -138.23% -57.7% -90.9%
FREE CASH FLOW
Cash From Operating Activities $193.0K $255.9K $26.46K
Capital Expenditures $0.00 $0.00 $1.630K
Free Cash Flow $193.0K $255.9K $24.83K
YoY Change -24.04% -29.36% -86.8%

Facts In Submission

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FULLNET COMMUNICATIONS INC.
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CY2023Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
148654 usd
CY2022Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
199061 usd
CY2023Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
17002 usd
CY2022Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
15105 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
131652 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
183956 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19182754 shares
CY2023Q1 fil Aggregate Outstanding Accumulated Arrearages Of Cumulative Dividend
AggregateOutstandingAccumulatedArrearagesOfCumulativeDividend
17002 usd
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17146121 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19676734 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19665241 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19182754 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17146121 shares
CY2023Q1 fil Effect Of Dilutive Stock Options
EffectOfDilutiveStockOptions
493980 usd
CY2022Q1 fil Effect Of Dilutive Stock Options
EffectOfDilutiveStockOptions
2231210 usd
CY2023Q1 fil Effect Of Dilutive Warrants
EffectOfDilutiveWarrants
0 usd
CY2022Q1 fil Effect Of Dilutive Warrants
EffectOfDilutiveWarrants
287910 usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19676734 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19665241 shares
CY2023Q1 fil Preferred Stock
PreferredStock
618257 shares
CY2022Q1 fil Preferred Stock
PreferredStock
568257 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
618257 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
568257 shares
CY2023Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
61826 usd
CY2023Q1 fil Aggregate Outstanding Accumulated Arrearages Of Cumulative Dividend Shares
AggregateOutstandingAccumulatedArrearagesOfCumulativeDividendShares
44742 shares
CY2023Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
266406 usd
CY2023Q1 fil Noncash Lease Expense
NoncashLeaseExpense
32356 usd
CY2023Q1 us-gaap Capital Leased Assets Gross
CapitalLeasedAssetsGross
246730 usd
CY2022Q1 fil Cash Paid For Amounts Included In The Measurement Of Our Lease Liability
CashPaidForAmountsIncludedInTheMeasurementOfOurLeaseLiability
38058 usd
CY2023Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
114174 usd
CY2023Q1 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Two
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo
152232 usd
CY2023Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
266406 usd
CY2023Q1 fil Present Value Of Discount
PresentValueOfDiscount
-19676 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
136497 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
110233 usd
CY2023Q2 us-gaap Subsequent Events Date
SubsequentEventsDate
2023-04-06
CY2023Q2 us-gaap Subsequent Event Description
SubsequentEventDescription
we issued 382,333 restricted shares of our common stock
CY2023Q2 us-gaap Sale Of Stock Description Of Transaction
SaleOfStockDescriptionOfTransaction
we issued 382,333 restricted shares of our common stock
CY2023Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
382333 shares
CY2023Q2 us-gaap Stock Issued1
StockIssued1
5383 usd
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
19565087 shares

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