Idle Media, Inc.

CIK:0001451520|SEC Filings

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Advertising and sponsorship revenue	$ 635,208	$ 972,846	$ 1,873,556	$ 2,617,549
Subscription and gaming revenue	30,429	34,933	111,689	135,347
Other revenue				4,380
Total revenue	665,637	1,007,779	1,985,245	2,757,276
Cost of sales	315,661	435,452	775,703	999,437
Gross Profit	349,976	572,327	1,209,542	1,757,839
Operating expenses:
Selling, general and administrative	357,696	636,450	1,280,131	1,570,682
Employee stock-based compensation	101,525		881,318
Depreciation and amortization	6,910	5,180	20,250	14,172
Research and development	499		499	3,316
Total operating expenses	466,630	641,630	2,182,198	1,588,170
Income (loss) from operations	(116,654)	(69,303)	(972,656)	169,669
Net income (loss) before provision for income taxes	(116,654)	(69,303)	(972,656)	169,669
Income tax benefit (provision)	5,297	24,065	31,969	(59,398)
Net income (loss)	$ (111,357)	$ (45,238)	$ (940,687)	$ 110,271
Income (loss) per common share - basic (in Dollars per share)	$ 0.00	$ 0.00	$ (0.01)	$ 0.00
Weighted average shares of common stock outstanding - basic (in Shares)	64,746,743	58,483,250	64,746,743	58,483,250

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Net income (loss)	$ (940,687)	$ 110,271
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation and amortization	20,250	14,172
Employee stock based compensation	881,318
Changes in operating assets and liabilities:
Accounts receivable	137,667	96,057
Related party receivable		(238,249)
Prepaid expenses	70,818	(7,000)
Accounts payable	(40,598)	(45,121)
Deferred revenue	(2,078)	923
Accrued expenses and other current liabilities	(80,236)	(174,734)
Net cash (used in) provided by operating activities	46,454	(243,681)
Cash flows from investing activities:
Purchase of fixed assets		(27,997)
Net cash used in investing activities		(27,997)
Cash flows from financing activities:
Deemed distribution to related party		(50,000)
Net cash used in financing activities		(50,000)
Net increase (decrease) in cash	46,454	(321,678)
Cash and cash equivalents beginning of period	383,546	1,120,677
Cash and cash equivalents at end of period	430,000	798,999
Non-cash investing and financing activities:
Accounts payable assumed by related party		$ (12,575)

Consolidated Balance Sheets (Unaudited) (USD $)	Jun. 30, 2013	Sep. 30, 2012
Current assets:
Cash and cash equivalents	$ 430,000	$ 383,546
Accounts receivable	261,553	399,220
Prepaid expenses	932	71,750
Total current assets	692,485	854,516
Fixed assets, net	180,847	188,952
Intangible assets, net	8,316	20,460
Total assets	881,648	1,063,928
Current liabilities:
Accounts payable	70,655	111,252
Deferred revenue	14,552	16,630
Accrued expenses and other current liabilities	379,148	459,384
Total current liabilities	464,355	587,266
Total liabilities	464,355	587,266
Stockholders' equity:
Preferred stock, $.001 par value; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $.001 par value; 100,000,000 shares authorized, 64,746,743 shares issued at June 30, 2013 and September 30, 2012, respectively	64,746	64,746
Additional paid-in capital	2,960,901	2,079,583
Related party receivable	(260,298)	(260,298)
Accumulated deficit	(2,148,056)	(1,207,369)
Treasury stock	(200,000)	(200,000)
Total stockholders' equity	417,293	476,662
Total liabilities and stockholders' equity	$ 881,648	$ 1,063,928