$KDOZF
KIDOZ INC.

2018 Q1 Form 10-Q Financial Statement

#000131848218000003 Filed on May 15, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $24.35K $33.26K
YoY Change -26.78% -69.92%
Cost Of Revenue
YoY Change
Gross Profit $24.35K $33.26K
YoY Change -26.78% -434.46%
Gross Profit Margin 100.0% 100.0%
Selling, General & Admin $410.0K $180.0K
YoY Change 127.78% -55.0%
% of Gross Profit 1683.71% 541.21%
Research & Development $270.6K $214.5K
YoY Change 26.17% -1.33%
% of Gross Profit 1111.33% 644.92%
Depreciation & Amortization $0.00 $0.00
YoY Change -100.0%
% of Gross Profit 0.0% 0.0%
Operating Expenses $270.6K $214.5K
YoY Change 26.17% -1.33%
Operating Profit -$673.7K -$382.9K
YoY Change 75.94% -39.3%
Interest Expense -$180.0K -$20.00K
YoY Change 800.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$835.4K -$383.9K
YoY Change 117.57% -39.43%
Income Tax
% Of Pretax Income
Net Earnings -$835.4K -$383.9K
YoY Change 117.57% -39.43%
Net Earnings / Revenue -3430.53% -1154.42%
Basic Earnings Per Share
Diluted Earnings Per Share -$12.31K -$6.364K
COMMON SHARES
Basic Shares Outstanding 68.25M 59.71M
Diluted Shares Outstanding 68.25M 59.71M

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.100M $30.00K
YoY Change 6900.0% -80.0%
Cash & Equivalents $2.103M
Short-Term Investments
Other Short-Term Assets $80.00K $20.00K
YoY Change 300.0% 0.0%
Inventory
Prepaid Expenses $80.34K $17.95K
Receivables $19.56K $19.00K
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.203M $68.72K
YoY Change 3105.13% -68.76%
LONG-TERM ASSETS
Property, Plant & Equipment $13.73K $9.541K
YoY Change 43.88% -4.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change -100.0%
Total Long-Term Assets $13.73K $9.541K
YoY Change 43.88% -97.42%
TOTAL ASSETS
Total Short-Term Assets $2.203M $68.72K
Total Long-Term Assets $13.73K $9.541K
Total Assets $2.216M $78.26K
YoY Change 2731.92% -86.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $54.04K $10.73K
YoY Change 403.78% -93.69%
Accrued Expenses $103.9K $96.06K
YoY Change 8.13% 6.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $387.5K $223.9K
YoY Change 73.05% -20.03%
LONG-TERM LIABILITIES
Long-Term Debt $520.0K $440.0K
YoY Change 18.18%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $520.0K $440.0K
YoY Change 18.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $387.5K $223.9K
Total Long-Term Liabilities $520.0K $440.0K
Total Liabilities $908.6K $660.1K
YoY Change 37.64% 135.77%
SHAREHOLDERS EQUITY
Retained Earnings -$24.14M -$21.95M
YoY Change 9.99%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.308M -$581.9K
YoY Change
Total Liabilities & Shareholders Equity $2.216M $78.26K
YoY Change 2731.92% -86.74%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$835.4K -$383.9K
YoY Change 117.57% -39.43%
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change -100.0%
Cash From Operating Activities -$657.4K -$216.3K
YoY Change 203.88% -48.49%
INVESTING ACTIVITIES
Capital Expenditures $5.097K $210.00
YoY Change 2327.14%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$5.097K -$210.00
YoY Change 2327.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.287M 188.1K
YoY Change 1115.48%
NET CHANGE
Cash From Operating Activities -657.4K -216.3K
Cash From Investing Activities -5.097K -210.0
Cash From Financing Activities 2.287M 188.1K
Net Change In Cash 1.624M -28.41K
YoY Change -5816.31% -93.23%
FREE CASH FLOW
Cash From Operating Activities -$657.4K -$216.3K
Capital Expenditures $5.097K $210.00
Free Cash Flow -$662.5K -$216.5K
YoY Change 205.94% -48.44%

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<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"><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=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:40.55pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-21.85pt;">(c)&nbsp; Revenue recognition:</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: left;">Trophy Bingo and Garfield's Bingo 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 style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: left;">Advertising revenues, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> generated in Trophy Bingo or Garfield's Bingo, have been recognized when collection of the amounts are reasonably assured.</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: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: left;">Rooplay revenue 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></div></div></div></div>
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SalariesAndWages
161422
CY2017Q1 us-gaap Salaries And Wages
SalariesAndWages
101593
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
130000
CY2017Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
29601
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3693
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
CY2018Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
157184
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.25
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0156
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.25
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
75000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
725000
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
154208
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1010000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1605000
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1530000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.42
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.42
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.42
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.42
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0.42
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.42
CY2018Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2018Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
1237500
CY2018Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
1530000
CY2018Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2018Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
CY2018Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2551500
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
-147409
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
1307658
CY2018Q1 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"><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=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 40.55pt; text-align: left; text-indent: -21.85pt;">(b)&nbsp; Use of estimates:</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;">The preparation 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 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 collectibility of accounts receivable, the valuation of promissory notes and the estimated market rate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15%,</div> stock-based compensation, 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></div></div></div>
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68254870
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
59708318
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68254870
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59708318

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