ProText Mobility, Inc.

CIK:0001163573|SEC Filings

Earnings (loss) Per Common Share	9 Months Ended
Sep. 30, 2014
Notes
Earnings (loss) Per Common Share	Earnings Per Share: The Company utilizes the guidance per FASB Codification “ASC 260 "Earnings Per Share". Basic earnings per share is calculated on the weighted effect of all common shares issued and outstanding, and is calculated by dividing net income available to common stockholders by the weighted average shares outstanding during the period. Diluted earnings per share, which is calculated by dividing net income available to common stockholders by the weighted average number of common shares used in the basic earnings per share calculation, plus the number of common shares that would be issued assuming conversion of all potentially dilutive securities outstanding, is not presented separately as it is anti-dilutive. Such securities, shown below, presented on a common share equivalent basis and outstanding as of September 30, 2014 and 2013 have been excluded from the per share computations as their effect would be anti-dilutive:

Earnings (loss) Per Common Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share:

The Company utilizes the guidance per FASB Codification “ASC 260 "Earnings Per Share". Basic earnings per share is calculated on the weighted effect of all common shares issued and outstanding, and is calculated by dividing net income available to common stockholders by the weighted average shares outstanding during the period. Diluted earnings per share, which is calculated by dividing net income available to common stockholders by the weighted average number of common shares used in the basic earnings per share calculation, plus the number of common shares that would be issued assuming conversion of all potentially dilutive securities outstanding, is not presented separately as it is anti-dilutive. Such securities, shown below, presented on a common share equivalent basis and outstanding as of September 30, 2014 and 2013 have been excluded from the per share computations as their effect would be anti-dilutive:

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Sep. 30, 2014	Sep. 30, 2013
Statement of Cash Flows
Net loss	$ (1,420,794)us-gaap_ProfitLoss	$ (1,125,233)us-gaap_ProfitLoss
Common stock issued for services	20,667	36,200
Common stock issued for compensation	120,000us-gaap_ShareBasedCompensation	120,000us-gaap_ShareBasedCompensation
Original issue discount	4,500	(4,500)
Stock issued for interest		10,415us-gaap_PaidInKindInterest
Loss on change in derivative liability	(149,550)	139,773
(Gain) loss on settlement of debt		45,339
Fair value of shares issued in connection with notes payable	10,000	0
Interest on debt restructuring		22,970us-gaap_InterestAndDebtExpense
Amortization of debt discount	704,762	168,122
Increase (Decrease) in Inventories	(19,765)us-gaap_IncreaseDecreaseInInventories
Increase (Decrease) in Deposits		2,700us-gaap_IncreaseDecreaseInDeposits
Accounts payable and accrued expenses-related parties	25,858
Accounts payable and accrued expenses	98,380	323,599
Net cash used in operating activities	(600,709)	(260,615)
Proceeds from sale of common stock		20,848
Proceeds from loans payable	49,980us-gaap_ProceedsFromLoans	6,000us-gaap_ProceedsFromLoans
Principal repayments of loan payable	(37,250)us-gaap_RepaymentsOfDebt	0us-gaap_RepaymentsOfDebt
Proceeds from convertible notes payable	663,500us-gaap_ProceedsFromConvertibleDebt	275,500us-gaap_ProceedsFromConvertibleDebt
Principal repayments of convertible notes payable	(74,830)us-gaap_RepaymentsOfConvertibleDebt	(30,000)us-gaap_RepaymentsOfConvertibleDebt
NET CASH PROVIDED BY FINANCING ACTIVITIES	601,400	272,348
NET INCREASE (DECREASE) IN CASH	691	11,733
CASH - BEGINNING OF PERIOD	41	349
CASH - END OF PERIOD	732	12,082
Cash paid for interest	13,552us-gaap_InterestPaid
Common stock issued as a result of convertible debt conversions	402,342	155,110
Embedded conversion features	961,736	306,145
Common stock issued for accrued interest		3,900fil_CommonStockIssuedForAccruedInterest
Common stock issued as a result of debt conversion		3,965
Common stock dividends payable for Series B Preferred Stock	349,383	351,333
Reclassification of liability contracts to equity	$ 354,324	$ 0

CONSOLIDATED BALANCE SHEETS (USD $) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Statement of Financial Position
Cash	$ 732us-gaap_Cash	$ 41us-gaap_Cash
Inventory, Net	19,765us-gaap_InventoryNet
Prepaid expenses	0us-gaap_PrepaidExpenseCurrent	4,500us-gaap_PrepaidExpenseCurrent
TOTAL CURRENT ASSETS	20,497us-gaap_AssetsCurrent	4,541us-gaap_AssetsCurrent
TOTAL ASSETS	20,497us-gaap_Assets	4,541us-gaap_Assets
Accounts payable and accrued expenses	2,455,482	2,406,430
Accrued expenses - related party	37,708us-gaap_DueToRelatedPartiesCurrent	11,850us-gaap_DueToRelatedPartiesCurrent
Current portion of 10% convertible notes payable	114,034us-gaap_ConvertibleNotesPayableCurrent	114,034us-gaap_ConvertibleNotesPayableCurrent
Convertible short term bridge notes payable, net	1,159,580us-gaap_ConvertibleNotesPayable	1,193,460us-gaap_ConvertibleNotesPayable
Related party convertible loans	122,000fil_RelatedPartyConvertibleLoans	122,000fil_RelatedPartyConvertibleLoans
Loans payable	24,730us-gaap_LoansPayable
Deferred revenue	5,233us-gaap_DeferredRevenue
Derivative liability	803,719us-gaap_DerivativeLiabilities	345,857us-gaap_DerivativeLiabilities
TOTAL CURRENT LIABILITIES	4,722,486us-gaap_LiabilitiesCurrent	4,193,631us-gaap_LiabilitiesCurrent
Dividends payable	1,856,448	1,505,215
Convertible notes payable, net of debt discount		4,331us-gaap_ConvertibleLongTermNotesPayable
TOTAL OTHER LIABILITIES		1,509,546us-gaap_OtherLiabilitiesNoncurrent
TOTAL LIABILITIES	6,578,933us-gaap_Liabilities	5,703,177us-gaap_Liabilities
Preferred A Stock	3fil_PreferredAStock	3fil_PreferredAStock
Preferred B Stock	51fil_PreferredBStock	51fil_PreferredBStock
Preferred C Stock	100,000fil_PreferredCStock	100,000fil_PreferredCStock
Common Stock	6,441us-gaap_CommonStockValueOutstanding	17us-gaap_CommonStockValueOutstanding
Additional paid-in capital	46,454,847us-gaap_AdditionalPaidInCapital	45,548,849us-gaap_AdditionalPaidInCapital
Accumulated deficit	(53,119,778)	(51,347,556)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	(6,558,436)us-gaap_StockholdersEquity	(5,698,636)us-gaap_StockholdersEquity
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 20,497	$ 4,541