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Organization and Basis of Presentation
9 Months Ended
Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Basis of Presentation

SpendSmart Networks, Inc. is a Delaware corporation (“the Company”).  The Company brings value added products and mobile marketing solutions to consumers, merchants and businesses.  The Company brings its products and services to market through a nationwide network of licensees who have been trained as “Masterminds” in mobile marketing. The licensees pay for the exclusive right to sell the Company’s products and services in a specific geographical area to small and medium sized businesses. The Company’s licensees pay an initial sum during the set up process as well as monthly sum.

 

The Company is a publicly traded company trading on the OTCQB under the symbol “SSPC.”  The Company purchased substantially all of the assets of Intellectual Capital Management LLC d/b/a SMS Masterminds (“SMS”) on February 11, 2014, and substantially all of the assets of TechXpress, Inc. on September 18, 2014.  The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary SpendSmart Networks, Inc., a California corporation (SpendSmart-CA). All material intercompany balances and transactions have been eliminated.  The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2014.  The year-end balance sheet data was derived from audited financial statements. These financial statements do not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”).  All normal recurring adjustments which are necessary for the fair presentation of the results for the interim periods are reflected herein.  Operating results for the nine months ended September 30, 2015 are not necessarily indicative of results to be expected for a full year.