$KDOZF
KIDOZ INC.

2017 Q3 Form 10-Q Financial Statement

#000131848217000007 Filed on November 14, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $18.85K $52.76K
YoY Change -64.27% 427.58%
Cost Of Revenue $120.5K
YoY Change 0.42%
Gross Profit $18.85K -$67.75K
YoY Change -127.83% -38.41%
Gross Profit Margin 100.0% -128.41%
Selling, General & Admin $290.0K $190.0K
YoY Change 52.63% -42.42%
% of Gross Profit 1538.22%
Research & Development $194.6K $387.1K
YoY Change -49.73% 29.02%
% of Gross Profit 1032.16%
Depreciation & Amortization $0.00 $120.0K
YoY Change -100.0% 0.0%
% of Gross Profit 0.0%
Operating Expenses $194.6K $387.1K
YoY Change -49.73% -38.56%
Operating Profit -$489.2K -$646.6K
YoY Change -24.34% -12.62%
Interest Expense $10.00K -$10.00K
YoY Change -200.0% -50.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$462.7K -$1.156M
YoY Change -59.98% 46.34%
Income Tax $1.00
% Of Pretax Income
Net Earnings -$462.7K -$1.156M
YoY Change -59.98% 46.34%
Net Earnings / Revenue -2454.3% -2191.32%
Basic Earnings Per Share
Diluted Earnings Per Share -$7.412K -$19.48K
COMMON SHARES
Basic Shares Outstanding 62.06M 59.54M
Diluted Shares Outstanding 62.06M 59.54M

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $820.0K $80.00K
YoY Change 925.0% -94.16%
Cash & Equivalents $818.1K
Short-Term Investments
Other Short-Term Assets $30.00K $60.00K
YoY Change -50.0% 200.0%
Inventory
Prepaid Expenses $34.11K
Receivables $16.47K $30.00K
Other Receivables $0.00 $0.00
Total Short-Term Assets $868.7K $170.0K
YoY Change 410.98% -87.86%
LONG-TERM ASSETS
Property, Plant & Equipment $11.17K $10.00K
YoY Change 11.73% 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $10.00K
YoY Change -100.0% 0.0%
Total Long-Term Assets $11.17K $140.0K
YoY Change -92.02% -77.42%
TOTAL ASSETS
Total Short-Term Assets $868.7K $170.0K
Total Long-Term Assets $11.17K $140.0K
Total Assets $879.8K $310.0K
YoY Change 183.82% -84.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.67K $40.00K
YoY Change -45.82% -69.23%
Accrued Expenses $89.50K $80.00K
YoY Change 11.88% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $30.00K
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $221.1K $260.0K
YoY Change -14.98% 4.0%
LONG-TERM LIABILITIES
Long-Term Debt $480.0K $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $480.0K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $221.1K $260.0K
Total Long-Term Liabilities $480.0K $0.00
Total Liabilities $701.3K $260.0K
YoY Change 169.72% 4.0%
SHAREHOLDERS EQUITY
Retained Earnings -$22.85M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $178.6K $50.00K
YoY Change
Total Liabilities & Shareholders Equity $879.8K $310.0K
YoY Change 183.82% -84.65%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$462.7K -$1.156M
YoY Change -59.98% 46.34%
Depreciation, Depletion And Amortization $0.00 $120.0K
YoY Change -100.0% 0.0%
Cash From Operating Activities -$430.0K -$120.0K
YoY Change 258.33% -77.78%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$10.00K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$10.00K
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.000M 30.00K
YoY Change 3233.33% -62.5%
NET CHANGE
Cash From Operating Activities -430.0K -120.0K
Cash From Investing Activities 0.000 -10.00K
Cash From Financing Activities 1.000M 30.00K
Net Change In Cash 570.0K -100.0K
YoY Change -670.0% -78.26%
FREE CASH FLOW
Cash From Operating Activities -$430.0K -$120.0K
Capital Expenditures $0.00 -$10.00K
Free Cash Flow -$430.0K -$110.0K
YoY Change 290.91% -79.63%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"><tr style="vertical-align: top;"><td style="width: 18pt;"></td> <td style="width: 27pt;"> <div style=" margin: 0pt; text-align: left; font-size: 10pt; font-family: Times\ New\ Roman, Times, serif;">(c)</div> </td> <td> <div style=" margin: 0pt; text-align: left; font-size: 10pt; font-family: Times\ New\ Roman, Times, serif;"><div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">Revenue recognition:</div></div> </td> </tr> </table> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">Trophy Bingo and Garfield's Bing<div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">o revenues have been recognized from the sale of in-game purchases, net of platform fees, at the time of purchase by the player. The revenue from in-game advertising is recognized when advertising is served to the player.</div></div> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">Advertising revenues, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> generate<div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">d in Trophy Bingo or Garfield's Bingo, have been recognized when collection of the amounts are reasonably assured.</div></div> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">Rooplay revenues have been recognized when collection of the subscriptions are reasonably assured and the provision of service has occurred.</div></div></div></div></div></div></div></div></div>
us-gaap Revenues
Revenues
74888
us-gaap Revenues
Revenues
241138
CY2017Q3 us-gaap Revenues
Revenues
18853
CY2016Q3 us-gaap Revenues
Revenues
52758
us-gaap Salaries And Wages
SalariesAndWages
339827
us-gaap Salaries And Wages
SalariesAndWages
316646
CY2016Q3 us-gaap Salaries And Wages
SalariesAndWages
97626
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
74888
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
241138
CY2017Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
18853
CY2016Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
52758
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
151483
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
880000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.42
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.42
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
130000
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
60000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1010000
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.42
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.42
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1785488
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-315587
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
178570
us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"><tr style="vertical-align: top;"><td style="width: 27pt;"><div style=" margin: 0pt; text-align: left; font-size: 10pt; font-family: Times\ New\ Roman, Times, serif;">(b)</div> </td> <td> <div style=" margin: 0pt; text-align: left; font-size: 10pt; font-family: Times\ New\ Roman, Times, serif;"><div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">Use of estimates:</div></div> </td> </tr> </table> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">The pre<div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">paration of consolidated financial statements in conformity with US GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and recognized revenues and expenses for the reporting periods. </div></div> <div style=" font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">Significant areas requiring the use of estimates include the valuation of long-lived assets, the collectibility of accounts receivable, the valuation of promissory <div style="display: inline; font-family:Times New Roman, Times, serif;font-size:10pt;">notes and the estimated market rate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15%,</div> the derivative liability - warrants valuation and the valuation of deferred tax assets.&nbsp; Actual results <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>differ significantly from these estimates.</div></div></div></div></div></div></div></div></div></div>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60621170
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57737834
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62063832
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59535637
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60621170
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57737834
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62063832
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59535637

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