$LVO
LiveOne, Inc.

2014 Q2 Form 10-K Financial Statement

#000160749114000034 Filed on July 29, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 2013 Q2
Revenue $1.847M $0.00 $1.629M
YoY Change 13.41%
Cost Of Revenue $279.7K $1.000M $252.4K
YoY Change 10.8%
Gross Profit $1.568M $5.900M $1.376M
YoY Change 13.89%
Gross Profit Margin 84.86% 84.5%
Selling, General & Admin $863.6K $5.600M $638.0K
YoY Change 35.36% 300.0%
% of Gross Profit 55.1% 94.92% 46.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $45.65K $1.645K $47.83K
YoY Change -4.55% 39.88%
% of Gross Profit 2.91% 0.03% 3.48%
Operating Expenses $3.661M $3.321M $1.132M
YoY Change 223.44% 136.01%
Operating Profit -$2.093M -$3.321M $244.6K
YoY Change -955.91% 136.01%
Interest Expense $5.088K $28.58K $0.00
YoY Change 64.24%
% of Operating Profit 0.0%
Other Income/Expense, Net -$5.088K -$78.58K $0.00
YoY Change -33.07%
Pretax Income -$2.098M -$3.400M $244.6K
YoY Change -957.99% 122.99%
Income Tax $45.88K $0.00 $61.93K
% Of Pretax Income 25.32%
Net Earnings -$1.527M -$3.400M $91.32K
YoY Change -1772.11% 122.99%
Net Earnings / Revenue -82.66% 5.61%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.06 $0.01
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2014 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $430.0K $730.0K
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $520.0K $480.0K
YoY Change 700.0%
Inventory $57.68K $70.00K
Prepaid Expenses
Receivables $138.0K $150.0K
Other Receivables $510.0K $120.0K
Total Short-Term Assets $1.658M $1.550M $65.90K
YoY Change 2415.47% 2114.29% -39.93%
LONG-TERM ASSETS
Property, Plant & Equipment $1.170M $1.160M $4.486K
YoY Change 25980.94% -20.77%
Goodwill
YoY Change
Intangibles $11.60K
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.182M $1.170M $4.486K
YoY Change 26239.57% -20.77%
TOTAL ASSETS
Total Short-Term Assets $1.658M $1.550M $65.90K
Total Long-Term Assets $1.182M $1.170M $4.486K
Total Assets $2.839M $2.720M $70.38K
YoY Change 3933.99% 3785.71% -38.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.369M $810.0K $72.04K
YoY Change 1800.77% 1057.14% 540.81%
Accrued Expenses $51.08K $180.0K $17.41K
YoY Change 193.42%
Deferred Revenue
YoY Change
Short-Term Debt $1.950M $10.00K
YoY Change -97.14%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.059M $1.180M $424.6K
YoY Change 855.98% 180.95%
LONG-TERM LIABILITIES
Long-Term Debt $920.0K $0.00
YoY Change -100.0%
Other Long-Term Liabilities $1.270M $1.270M
YoY Change
Total Long-Term Liabilities $2.191M $1.270M $527.8K
YoY Change 315.21% 139.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.059M $1.180M $424.6K
Total Long-Term Liabilities $2.191M $1.270M $527.8K
Total Liabilities $6.251M $2.590M $952.4K
YoY Change 556.31% 172.63%
SHAREHOLDERS EQUITY
Retained Earnings -$1.367M
YoY Change
Common Stock $3.960M $1.392M
YoY Change 184.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.936M $140.0K -$882.0K
YoY Change
Total Liabilities & Shareholders Equity $2.839M $2.720M $70.38K
YoY Change 3933.99% 3785.71%

Cashflow Statement

Concept 2014 Q2 2014 2013 Q2
OPERATING ACTIVITIES
Net Income -$1.527M -$3.400M $91.32K
YoY Change -1772.11% 122.99%
Depreciation, Depletion And Amortization $45.65K $1.645K $47.83K
YoY Change -4.55% 39.88%
Cash From Operating Activities -$1.370M -$50.00K
YoY Change -92.84%
INVESTING ACTIVITIES
Capital Expenditures $17.57K $5.240K $4.862K
YoY Change 261.33%
Acquisitions
YoY Change
Other Investing Activities $90.00K $0.00
YoY Change -100.0%
Cash From Investing Activities $70.00K -$150.0K
YoY Change 50.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.450M
YoY Change 132.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 990.0K 90.00K
YoY Change -88.01%
NET CHANGE
Cash From Operating Activities -1.370M -50.00K
Cash From Investing Activities 70.00K -150.0K
Cash From Financing Activities 990.0K 90.00K
Net Change In Cash -310.0K -110.0K
YoY Change 130.45%
FREE CASH FLOW
Cash From Operating Activities -$1.370M -$50.00K
Capital Expenditures $17.57K $5.240K $4.862K
Free Cash Flow -$1.388M -$55.24K
YoY Change -92.09%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2013 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0 pure
CY2013Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
60000 USD
CY2014 us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i><u>Use of Estimates and Assumptions</u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>&#160;</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date(s) of the financial statements and the reporting amounts of revenues and expenses during the reporting period(s).</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Critical accounting estimates are estimates for which (a) the nature of the estimate is material due to the levels of subjectivity and judgment necessary to account for highly uncertain matters or the susceptibility of such matters to change and (b) the impact of the estimate on financial condition or operating performance is material. The Company&#8217;s critical accounting estimates and assumptions affecting the financial statements were:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <table style="MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="WIDTH: 0.25in"> <div style="CLEAR:both;CLEAR: both">(i)</div> </td> <td style="TEXT-ALIGN: justify"> <div style="CLEAR:both;CLEAR: both"><i>Assumption as a going concern:</i> Management assumes that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business;</div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.25in; MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <table style="MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="WIDTH: 0.25in"> <div style="CLEAR:both;CLEAR: both">(ii)</div> </td> <td style="TEXT-ALIGN: justify"> <div style="CLEAR:both;CLEAR: both"><i>Fair value of long-lived assets:</i> Fair value is generally determined using the asset&#8217;s expected future discounted cash flows or market value, if readily determinable. If long-lived assets are determined to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book values of the long-lived assets are depreciated over the newly determined remaining estimated useful lives. The Company considers the following to be some examples of important indicators that may trigger an impairment review: (i)&#160;significant under-performance or losses of assets relative to expected historical or projected future operating results; (ii)&#160;significant changes in the manner or use of assets or in the Company&#8217;s overall strategy with respect to the manner or use of the acquired assets or changes in the Company&#8217;s overall business strategy; (iii)&#160;significant negative industry or economic trends; (iv)&#160;increased competitive pressures; (v)&#160;a significant decline in the Company&#8217;s stock price for a sustained period of time; and (vi)&#160;regulatory changes. The Company evaluates acquired assets for potential impairment indicators at least annually and more frequently upon the occurrence of such events;</div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.25in; MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <table style="MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="WIDTH: 0.25in"> <div style="CLEAR:both;CLEAR: both">(iii)</div> </td> <td style="TEXT-ALIGN: justify"> <div style="CLEAR:both;CLEAR: both"><i>Valuation allowance for deferred tax assets:</i> Management assumes that the realization of the Company&#8217;s net deferred tax assets resulting from its net operating loss (&#8220;NOL&#8221;) carry&#150;forwards for Federal income tax purposes that may be offset against future taxable income was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by a full valuation allowance. Management made this assumption based on (a) the Company has incurred recurring losses, (b) general economic conditions, and (c) its ability to raise additional funds to support its daily operations by way of a public or private offering, among other factors;</div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.25in; MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <table style="MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="WIDTH: 0.25in"> <div style="CLEAR:both;CLEAR: both">(iv)</div> </td> <td style="TEXT-ALIGN: justify"> <div style="CLEAR:both;CLEAR: both"><i>Estimates and assumptions used in valuation of equity instruments:</i> Management estimates expected term of share options and similar instruments, expected volatility of the Company&#8217;s common shares and the method used to estimate it, expected annual rate of quarterly dividends, and risk free rate(s) to value share options and similar instruments.</div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.25in; MARGIN: 0px 0px 0px 0.5in; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">These significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to these estimates or assumptions, and certain estimates or assumptions are difficult to measure or value.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Actual results could differ from those estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2014Q2 us-gaap Assets Current
AssetsCurrent
341110 USD
CY2013Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1385421 USD
CY2013Q2 us-gaap Development Stage Enterprise Deficit Accumulated During Development Stage
DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage
2273694 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
-882008 USD
CY2013Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
70381 USD
CY2013Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17408 USD
CY2014Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
500000 USD
CY2013Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
300000 USD
CY2013Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
35123 USD
CY2014Q2 us-gaap Cash
Cash
85608 USD
CY2013Q2 us-gaap Cash
Cash
1956 USD
CY2014Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
195502 USD
CY2013Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3939 USD
CY2014Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
60000 USD
CY2013Q2 us-gaap Assets Current
AssetsCurrent
65895 USD
CY2013Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
250000 shares
CY2012Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
275000 shares
CY2013Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
300000 shares
CY2013Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
400000 shares
CY2013Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
300000 shares
CY2012Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
100000 shares
CY2012Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
200000 shares
CY2011Q1 ltnr Stock Issued During Period Price Per Share New Issues
StockIssuedDuringPeriodPricePerShareNewIssues
0.03
CY2011Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
12900 USD
CY2014Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11094 USD
CY2013Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5854 USD
CY2014Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3013 USD
CY2013Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1368 USD
CY2014Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8081 USD
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4486 USD
CY2014Q2 us-gaap Assets
Assets
349191 USD
CY2013Q2 us-gaap Assets
Assets
70381 USD
CY2014Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
684438 USD
CY2013Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
72040 USD
CY2014Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
45990 USD
CY2014Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
0 USD
CY2013Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
36 USD
CY2014Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
0 USD
CY2014Q2 us-gaap Liabilities Current
LiabilitiesCurrent
1230428 USD
CY2013Q2 us-gaap Liabilities Current
LiabilitiesCurrent
424607 USD
CY2014Q2 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
861118 USD
CY2013Q2 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
527782 USD
CY2014Q2 us-gaap Liabilities
Liabilities
2091546 USD
CY2013Q2 us-gaap Liabilities
Liabilities
952389 USD
CY2014Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q2 us-gaap Common Stock Value
CommonStockValue
8576 USD
CY2013Q2 us-gaap Common Stock Value
CommonStockValue
6265 USD
CY2014Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
3922304 USD
CY2014Q2 us-gaap Development Stage Enterprise Deficit Accumulated During Development Stage
DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage
5673235 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
-1742355 USD
CY2014Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
349191 USD
CY2014 ltnr Service Management Costs On Quarterly Basis
ServiceManagementCostsOnQuarterlyBasis
360000 USD
CY2013 ltnr Service Management Costs Long Term
ServiceManagementCostsLongTerm
333336 USD
CY2013 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1375000 shares
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1125000 shares
CY2014 ltnr Description Of Nature Of Ownership Change
DescriptionOfNatureOfOwnershipChange
In general terms, an ownership change may result from transactions increasing the ownership of certain stockholders in the stock of a corporation by more than 50 percentage points over a three-year period.
CY2014 us-gaap Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement.
CY2013Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
100000 USD
CY2013Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
50000 USD
CY2013Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.06 pure
CY2013Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.06 pure
CY2013Q1 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2015-03-25
CY2013Q3 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2015-09-17
CY2013Q2 ltnr Impairment Of Notes Receivable
ImpairmentOfNotesReceivable
100000 USD
CY2013Q4 ltnr Impairment Of Notes Receivable
ImpairmentOfNotesReceivable
50000 USD
CY2014Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2013Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2013Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2014Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2013Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2013Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2014Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8576666 shares
CY2013Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6265000 shares
CY2014Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8576666 shares
CY2013Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
6265000 shares
CY2013 ltnr Service Management Costs On Quarterly Basis
ServiceManagementCostsOnQuarterlyBasis
360000 USD
CY2013Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
50000 USD
CY2014Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
200000 USD
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
400000 USD
CY2013Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
250000 USD
CY2013 ltnr Consulting Fees
ConsultingFees
401700 USD
CY2014 us-gaap Professional Fees
ProfessionalFees
895074 USD
CY2014 ltnr Service Management Costs Long Term
ServiceManagementCostsLongTerm
333336 USD
CY2013 ltnr Amortization Of Fair Value Of Warrant Issued
AmortizationOfFairValueOfWarrantIssued
27528 USD
CY2014 ltnr Stock Issued During Period Shares Stock Options Exercised Cashless
StockIssuedDuringPeriodSharesStockOptionsExercisedCashless
0 shares
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2014 ltnr Amortization Of Fair Value Of Warrant Issued
AmortizationOfFairValueOfWarrantIssued
27528 USD
CY2013 us-gaap Service Management Costs
ServiceManagementCosts
720864 USD
CY2014 us-gaap Service Management Costs
ServiceManagementCosts
720864 USD
CY2011Q3 ltnr Service Management Period
ServiceManagementPeriod
P3Y
CY2011Q3 ltnr Service Management Expired Date
ServiceManagementExpiredDate
2014-09-22
CY2011Q3 ltnr Service Management Cost Description
ServiceManagementCostDescription
Under the Management Agreement the Company will compensate Trinad LLC for its services with (i) a fee equal to $2,080,000, with $90,000 payable in advance of each consecutive three-month calendar period during the term of the Agreement and with $1,000,000 due at the end of the three (3) year term unless the Management Agreement is otherwise terminated earlier in accordance with its terms
CY2011Q3 ltnr Warrants Granted Fair Value
WarrantsGrantedFairValue
82575 USD
CY2011Q3 ltnr Amortized Period For Warrants Granted
AmortizedPeriodForWarrantsGranted
P3Y
CY2011Q3 ltnr Warrants Exercise Price
WarrantsExercisePrice
0.15
CY2011Q3 ltnr Management Services Payment Description
ManagementServicesPaymentDescription
The Company (i)(a) recorded $30,000 per month for the $1,080,000 portion of the management services to be paid on a quarterly basis, accrued (i)(b) $27,778 per month for the $1,000,000 portion of the management services, due at the end of the three (3) year term; and (ii) recorded amortization of $2,294 per month for the fair value of the warrant portion of the management services issued on September 23, 2011 in connection with the Management Agreement, or $60,072 of management services per month in aggregate
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1125000 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1125000 shares
CY2013Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
0.15
CY2014 ltnr Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Granted Options Weighted Average Exercise Price1
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeGrantedOptionsWeightedAverageExercisePrice1
0
CY2014 ltnr Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Forfeiture Options Weighted Average Exercise Price1
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeForfeitureOptionsWeightedAverageExercisePrice1
0
CY2014 ltnr Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Cashless Price1
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExerciseCashlessPrice1
0
CY2014 ltnr Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercised Options Weighted Average Exercise Price1
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisedOptionsWeightedAverageExercisePrice1
0
CY2014 ltnr Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Expired Options Weighted Average Exercise Price1
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExpiredOptionsWeightedAverageExercisePrice1
0
CY2014Q2 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
0.15
CY2014Q2 ltnr Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Earned And Exercisable Options Weighted Average Exercise Price1
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeEarnedAndExercisableOptionsWeightedAverageExercisePrice1
0.15
CY2014Q2 ltnr Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Non Vested Options Weighted Average Exercise Price1
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNonVestedOptionsWeightedAverageExercisePrice1
0.15
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.15
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2014 ltnr Share Based Compensation Arrangements By Share Basedpayment Award Options Exercises In Period Weighted Average Exercise Cash Less Price
ShareBasedCompensationArrangementsByShareBasedpaymentAwardOptionsExercisesInPeriodWeightedAverageExerciseCashLessPrice
0
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.15
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.15
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
0.15
CY2013Q2 ltnr Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Options Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsOptionsOutstanding
82575 USD
CY2014 ltnr Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Granted Options Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsGrantedOptionsOutstanding
0 USD
CY2014 ltnr Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Options Forfeiture
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsOptionsForfeiture
0 USD
CY2014 ltnr Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Options Exercisable Cash Less
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsOptionsExercisableCashLess
0 USD
CY2014 ltnr Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Options Exercisable
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsOptionsExercisable
0 USD
CY2014 ltnr Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Options Expired
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsOptionsExpired
0 USD
CY2014Q2 ltnr Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Options Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsOptionsOutstanding
82575 USD
CY2014Q2 ltnr Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Options Earned And Exercisable
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsOptionsEarnedAndExercisable
71114 USD
CY2014Q2 ltnr Share Based Compensation Arrangement By Share Based Payment Award Fair Value Nonvested Options
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueNonvestedOptions
11461 USD
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
CY2014 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Granted Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedIntrinsicValue
0 USD
CY2014 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Forfeiture For Cash Less Exercise Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitureForCashLessExerciseIntrinsicValue
0 USD
CY2014 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Cash Less Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableCashLessIntrinsicValue
0 USD
CY2014 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Exercised Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisedIntrinsicValue
0 USD
CY2014 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period Weighted Average Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageIntrinsicValue
0 USD
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 USD
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
CY2014Q2 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedIntrinsicValue
0 USD
CY2014Q2 ltnr Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price One
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceOne
0.15
CY2014Q2 ltnr Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Two
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceTwo
0.15
CY2014Q2 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number One
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumberOne
1125000 shares
CY2014Q2 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number Two
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumberTwo
1125000 shares
CY2014 ltnr Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term One
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermOne
P7Y4M28D
CY2014 ltnr Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term Two
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermTwo
P7Y4M28D
CY2014Q2 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price One
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceOne
0.15
CY2014Q2 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price Two
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceTwo
0.15
CY2014Q2 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number One
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumberOne
1125000 shares
CY2014Q2 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number Two
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumberTwo
1125000 shares
CY2014 ltnr Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term One
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTermOne
P7Y4M28D
CY2014 ltnr Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term Two
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTermTwo
P7Y4M28D
CY2014Q2 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price One
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePriceOne
0.15
CY2014Q2 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price Two
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePriceTwo
0.15
CY2011Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
430000 shares
CY2011Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
540000 shares
CY2013Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
50000 shares
CY2014Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
200000 shares
CY2012 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
400000 shares
CY2011Q1 ltnr Stock Issued During Period Price Per Share New Issues
StockIssuedDuringPeriodPricePerShareNewIssues
0.03
CY2012 ltnr Stock Issued During Period Price Per Share New Issues
StockIssuedDuringPeriodPricePerShareNewIssues
1.00
CY2012Q3 ltnr Stock Issued During Period Price Per Share New Issues
StockIssuedDuringPeriodPricePerShareNewIssues
1.00
CY2011Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
16200 USD
CY2012Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
275000 USD
CY2013Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
300000 USD
CY2013Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
400000 USD
CY2013Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
300000 USD
CY2012Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
100000 USD
CY2012Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
200000 USD
CY2013Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
250000 shares
CY2013Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
0.75
CY2013 us-gaap Revenues
Revenues
0 USD
CY2014 us-gaap Revenues
Revenues
0 USD
CY2014 ltnr Consulting Fees
ConsultingFees
1248796 USD
CY2013 us-gaap Professional Fees
ProfessionalFees
112743 USD
CY2013 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
171849 USD
CY2014 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
456225 USD
CY2013 us-gaap Operating Expenses
OperatingExpenses
1407156 USD
CY2014 us-gaap Operating Expenses
OperatingExpenses
3320959 USD
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
-1407156 USD
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
-3320959 USD
CY2013 ltnr Impairment Of Notes Receivable
ImpairmentOfNotesReceivable
100000 USD
CY2014 ltnr Impairment Of Notes Receivable
ImpairmentOfNotesReceivable
50000 USD
CY2013 us-gaap Interest Expense
InterestExpense
17403 USD
CY2014 us-gaap Interest Expense
InterestExpense
28582 USD
CY2013 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-117403 USD
CY2014 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-78582 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-1524559 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-3399541 USD
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7839178 shares
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
-299977 USD
CY2013 ltnr Amortization Deferred Stock Based Compensation
AmortizationDeferredStockBasedCompensation
27528 USD
CY2014 ltnr Amortization Deferred Stock Based Compensation
AmortizationDeferredStockBasedCompensation
27528 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2013 us-gaap Net Income Loss
NetIncomeLoss
-1524559 USD
CY2014 us-gaap Net Income Loss
NetIncomeLoss
-3399541 USD
CY2013 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.26
CY2014 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.43
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5842611 shares
CY2014 ltnr Stock Issued During Period Value Issued For Services Three
StockIssuedDuringPeriodValueIssuedForServicesThree
81250 USD
CY2013 ltnr Issuance Of Common Shares For Cash Price Per Share One
IssuanceOfCommonSharesForCashPricePerShareOne
1
CY2014 ltnr Issuance Of Common Shares For Cash Price Per Share One
IssuanceOfCommonSharesForCashPricePerShareOne
1
CY2013 ltnr Issuance Of Common Shares For Cash One
IssuanceOfCommonSharesForCashOne
1
CY2013 ltnr Stock Issued During Period Restricted Stock Award Forfeiture Per Share
StockIssuedDuringPeriodRestrictedStockAwardForfeiturePerShare
1
CY2013 ltnr Stock Issued During Period Restricted Stock Award Forfeiture Per Share One
StockIssuedDuringPeriodRestrictedStockAwardForfeiturePerShareOne
1
CY2013 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1176 USD
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.340 pure
CY2014 ltnr Stock Issued During Period Value Issued For Services Two
StockIssuedDuringPeriodValueIssuedForServicesTwo
358333 USD
CY2013 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
375000 USD
CY2013 ltnr Issuance Of Common Shares For Cash
IssuanceOfCommonSharesForCash
200000 USD
CY2014 ltnr Issuance Of Common Shares For Cash
IssuanceOfCommonSharesForCash
1450000 USD
CY2013 ltnr Issuance Of Common Shares For Cash Two
IssuanceOfCommonSharesForCashTwo
50000 USD
CY2013 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
170000 USD
CY2013 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
200000 USD
CY2013 ltnr Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures One
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeituresOne
-200000 USD
CY2013 ltnr Amortization Of Deferred Director Services
AmortizationOfDeferredDirectorServices
50000 USD
CY2014 ltnr Amortization Of Deferred Director Services
AmortizationOfDeferredDirectorServices
100000 USD
CY2014 ltnr Stock Issued During Period Vested Shares Value Forfeited
StockIssuedDuringPeriodVestedSharesValueForfeited
0 USD
CY2014 ltnr Stock Issued During Period Unvested Shares Value Forfeited
StockIssuedDuringPeriodUnvestedSharesValueForfeited
0 USD
CY2013 ltnr Stock Issued During Period Value Issued For Services One
StockIssuedDuringPeriodValueIssuedForServicesOne
70000 USD
CY2014 ltnr Stock Issued During Period Value Issued For Services One
StockIssuedDuringPeriodValueIssuedForServicesOne
490000 USD
CY2014 ltnr Issuance Of Common Shares For Cash One
IssuanceOfCommonSharesForCashOne
1
CY2013 ltnr Stock Issued During Period Price Per Share New Issues
StockIssuedDuringPeriodPricePerShareNewIssues
1
CY2013 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
250000 shares
CY2014 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1645 USD
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
317528 USD
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
1089194 USD
CY2013 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
3939 USD
CY2014 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
191563 USD
CY2013 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
60798 USD
CY2014 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
612398 USD
CY2013 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
17408 USD
CY2014 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
28582 USD
CY2013 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
36 USD
CY2014 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-36 USD
CY2013 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
333336 USD
CY2014 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
333336 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-698216 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-1475985 USD
CY2013 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
100000 USD
CY2014 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
50000 USD
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 USD
CY2014 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5240 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-100000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-55240 USD
CY2013 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-24517 USD
CY2014 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-35123 USD
CY2013 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
150000 USD
CY2014 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
200000 USD
CY2013 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
625000 USD
CY2014 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1450000 USD
CY2013 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
750483 USD
CY2014 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
1614877 USD
CY2013 us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
-47733 USD
CY2014 us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
83652 USD
CY2012Q2 us-gaap Cash
Cash
49689 USD
CY2013 us-gaap Interest Paid
InterestPaid
0 USD
CY2014 us-gaap Interest Paid
InterestPaid
0 USD
CY2013 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2014 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0 pure
CY2014 dei Document Period End Date
DocumentPeriodEndDate
2014-04-27
CY2014 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2014 dei Entity Registrant Name
EntityRegistrantName
LOTON, CORP
CY2014 dei Entity Central Index Key
EntityCentralIndexKey
0001491419
CY2014Q2 ltnr Deferred Tax Assets Expected Income Tax Benefit From Nol Carry Forwards
DeferredTaxAssetsExpectedIncomeTaxBenefitFromNolCarryForwards
1928900 USD
CY2013Q2 ltnr Deferred Tax Assets Expected Income Tax Benefit From Nol Carry Forwards
DeferredTaxAssetsExpectedIncomeTaxBenefitFromNolCarryForwards
773056 USD
CY2014Q2 ltnr Deferred Tax Assets Impairment Loss On Notes Receivable
DeferredTaxAssetsImpairmentLossOnNotesReceivable
-17000 USD
CY2013Q2 ltnr Deferred Tax Assets Impairment Loss On Notes Receivable
DeferredTaxAssetsImpairmentLossOnNotesReceivable
-34000 USD
CY2014Q2 ltnr Deferred Tax Assets Warrants Issued For Services
DeferredTaxAssetsWarrantsIssuedForServices
-9360 USD
CY2013Q2 ltnr Deferred Tax Assets Warrants Issued For Services
DeferredTaxAssetsWarrantsIssuedForServices
-67160 USD
CY2014Q2 ltnr Secured Convertible Notes Receivable Noncurrent Gross
SecuredConvertibleNotesReceivableNoncurrentGross
150000 USD
CY2013Q2 ltnr Secured Convertible Notes Receivable Noncurrent Gross
SecuredConvertibleNotesReceivableNoncurrentGross
100000 USD
CY2014Q2 us-gaap Deferred Tax Assets Valuation Allowance Noncurrent
DeferredTaxAssetsValuationAllowanceNoncurrent
1902540 USD
CY2013Q2 us-gaap Deferred Tax Assets Valuation Allowance Noncurrent
DeferredTaxAssetsValuationAllowanceNoncurrent
671896 USD
CY2014Q2 ltnr Secured Convertible Notes Receivable Noncurrent Accumulated Impairment
SecuredConvertibleNotesReceivableNoncurrentAccumulatedImpairment
150000 USD
CY2013Q2 ltnr Secured Convertible Notes Receivable Noncurrent Accumulated Impairment
SecuredConvertibleNotesReceivableNoncurrentAccumulatedImpairment
100000 USD
CY2014Q2 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
0 USD
CY2013Q2 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
0 USD
CY2014Q2 ltnr Secured Convertible Notes Receivable Noncurrent Net
SecuredConvertibleNotesReceivableNoncurrentNet
0 USD
CY2013Q2 ltnr Secured Convertible Notes Receivable Noncurrent Net
SecuredConvertibleNotesReceivableNoncurrentNet
0 USD
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.340 pure
CY2014 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--04-30
CY2014 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2014 dei Entity Voluntary Filers
EntityVoluntaryFilers
Yes
CY2014 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i><u><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Reclassification</font></u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><i>&#160;</i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Certain amounts in the prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported losses.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2014Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
5595707 USD
CY2013 ltnr Increase In Valuation Allowance
IncreaseInValuationAllowance
417190 USD
CY2014 ltnr Increase In Valuation Allowance
IncreaseInValuationAllowance
1230644 USD
CY2014 ltnr Stock Issued During Period Value Issued For Services Four
StockIssuedDuringPeriodValueIssuedForServicesFour
32083 USD
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
968750 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
156250 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.2755 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0121 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2013Q1 ltnr Stock Option Expiration Term
StockOptionExpirationTerm
P7Y
CY2014 ltnr Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateFairValue
170000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
2013-11-29
CY2014 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P5Y
CY2014 dei Entity Current Reporting Status
EntityCurrentReportingStatus
No
CY2014 dei Document Type
DocumentType
10-K
CY2014 dei Amendment Flag
AmendmentFlag
false
CY2014 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2014Q3 dei Entity Public Float
EntityPublicFloat
0 USD
CY2014 dei Trading Symbol
TradingSymbol
LTNR
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
38320000 shares

Files In Submission

Name View Source Status
0001607491-14-000034-index-headers.html Edgar Link pending
0001607491-14-000034-index.html Edgar Link pending
0001607491-14-000034.txt Edgar Link pending
0001607491-14-000034-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
ltnr-20140427.xml Edgar Link completed
ltnr-20140427.xsd Edgar Link pending
ltnr-20140427_cal.xml Edgar Link unprocessable
ltnr-20140427_def.xml Edgar Link unprocessable
ltnr-20140427_lab.xml Edgar Link unprocessable
ltnr-20140427_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
s100266_10k.htm Edgar Link pending
s100266_ex31-1.htm Edgar Link pending
s100266_ex31-2.htm Edgar Link pending
s100266_ex32-1.htm Edgar Link pending
s100266_ex32-2.htm Edgar Link pending
Show.js Edgar Link pending