Fision (FSSN) 10-Q 12 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2016shares
Document And Entity Information
Entity Registrant Name	FISION Corp
Entity Central Index Key	1,487,931
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding	30,782,521
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016

CONOLIDATED BALANCE SHEETS

CONOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 378,197	$ 8,495
Accounts receivable, net	50,253	32,134
PrePaid Expenses	9,404	15,318
Total Current Assets	437,854	55,947
Property and equipment, net	7,795	7,754
Other Assets:
Deposits	6,456	6,456
Total Assets	452,105	70,157
Current Liabilities:
Accounts payable, accrued expenses	444,055	349,752
Other current liabilities	281,100	280,645
Note payable and accrued interest - related party	144,322	174,125
Notes payable	811,957	811,957
Total Current Liabilities	$ 1,681,434	$ 1,616,478
Stockholders' Equity:
Preferred Stock, $0.0001 Par value, 20,000,000 shares authorized, No shares issued and outstanding
Common Stock, $0.0001 Par value, 500,000,000 shares authorized 30,782,521 and 19,662,809 shares issued and outstanding, respectively	$ 3,078	$ 2,780
Additional paid-in capital	10,643,865	9,071,663
Accumulated deficit	(11,876,272)	(10,620,764)
Total stockholders' Equity	(1,229,329)	(1,546,321)
Total Liabilities & Stockholders' Equity	$ 452,105	$ 70,157

CONOLIDATED BALANCE SHEETS (Par

CONOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Stockholders' deficit:
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	500,000,000	500,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares issued	30,782,521	19,662,809
Common stock, shares outstanding	30,782,521	19,662,809

CONOLIDATED STATEMENTS OF OPERA

CONOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Conolidated Statements Of Operations
REVENUE	$ 122,185	$ 135,138
COST OF SALES	30,664	39,307
GROSS MARGIN	91,521	95,830
OPERATING EXPENSES
Selling and Marketing	456,521	143,855
Development and Support	271,875	54,124
General and Administrative	586,938	138,045
TOTAL OPERATING EXPENSES	1,315,334	336,024
OPERATING LOSS	(1,223,813)	(240,193)
INTEREST EXPENSE	31,694	55,382
OTHER INCOME / (EXPENSE)	0	0
NET LOSS	$ (1,255,507)	$ (295,575)
Net loss per common share - basic and diluted	$ (0.045)	$ (0.015)
Weighted average common shares outstanding: Basic and diluted	28,128,077	19,662,809

CONOLIDATED STATEMENTS OF CASH

CONOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) for the Period	$ (1,255,507)	$ (295,575)
Adjustments to reconcile net loss to net cash provided by operating activities:
Common stock issued for services	922,500
Depreciation	1,352	$ 5,766
Stock warrants issued for services	30,000	7,000
(Increase) decrease in:
Accounts receivables	$ (18,120)	$ 54
Other receivable
Prepaid expenses	$ 5,914
Deposits
Increase (decrease) in:
Accounts payable & accrued expenses	$ 94,729	$ 65,842
Net Cash Used in Operating Activities	(219,131)	$ (216,913)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(1,393)
Net Cash Used In Investing Activities	(1,393)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments on note payable	$ (32,373)	$ (13,810)
Proceeds from note payable		224,200
Repayments on line of credit	$ 2,598	$ (125)
Proceeds from issuance of common stock	620,000
Net Cash Provided by Financing Activities	590,225	$ 210,265
Net (Decrease) Increase in Cash	369,702	(6,648)
Cash at Beginning of Period	8,495	2,924
Cash at End of Period	378,197	(3,724)
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during period: Interest	$ 1,633	$ 1,449
Cash paid during period: Franchise and Income Taxes
Noncash operating and financing activities:
Common Stock Issued for Services	$ 922,500
Common Stock Warrants Issued for Services	$ 30,000	$ 7,000

ORGANIZATION AND SIGNIFICANT AC

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Note 1 - ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES	Fision Corporation, (formerly DE 6 Acquisition, Inc.), a Delaware corporation (the "Company") was incorporated on February 24, 2010, and was inactive until December 2015 when it merged with Fision Holdings, Inc., a Minnesota operating business based in Minneapolis, Minnesota. As a result of the merger, Fision Holdings, Inc. became a wholly-owned subsidiary of the Company. Fision Holdings, Inc. was incorporated under the laws of the State of Minnesota in 2010, and has developed and successfully commercialized a unique cloud-based software platform which automates and integrates digital marketing assets and marketing communications to "bridge the gap" between marketing and sales of any enterprise. The Company generates its revenues primarily from software licensing contracts typically having terms of from one to three years and requiring monthly subscription fees based on the customer's number of users and the locations where used. The Company's business model provides a consistent and recurring revenue stream resulting in a high percentage of recurring revenues. The terms "Fision," "we," "us," and "our," refer to FISION Corporation, a Delaware corporation and its wholly-owned operating subsidiary Fision Holdings, Inc., a Minnesota corporation. Basis of Presentation The accompanying consolidated financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and pursuant to the rules and regulations of the SEC. Certain information and note disclosures which are included in annual financial statements have been omitted pursuant to these rules and regulations. We believe the disclosures made in these interim unaudited financial statements are adequate to make the information not misleading. Although these interim financial statements as and for the three months ended March 2016 and 2015 are unaudited, in the opinion of our management, such statements include all adjustments necessary to present fairly our financial position, results of operations and cash flows for the periods presented. The results for the three months ended March 31, 2016 are not necessarily indicative of the results to be expected for the year ended December 31, 2016 or for any future period. These unaudited interim financial statements should be read and considered in conjunction with our audited financial statements and the notes thereto for the year ended December 31, 2015, included in our annual report on Form10-K filed with the SEC on April 15, 2016. Net Loss per Share Basic net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents, consisting of shares issuable upon exercise of common stock options. In periods when losses are reported, the weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would have an anti-dilutive effect. At March 31, 2016 and December 31, 2015, we had outstanding stock options to purchase 77,500 and 77,500 shares respectively and warrants to purchase 3,891,075 and 3,771,075 shares respectively that are anti-dilutive. Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2014-09, "Revenue from Contracts with Customers," which supersedes the revenue recognition requirements in Topic 605, "Revenue Recognition" and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU 2015-14, which defers by one year the effective date of ASU 2014-09. Accordingly, this guidance is effective for interim and annual periods beginning after December 15, 2017 with early adoption permitted for interim and annual periods beginning after December 15, 2016. The Company plans to adopt this guidance on January 1, 2018. The Company is currently evaluating the effects, if any, that the adoption of this guidance will have on the Company's financial position, results of operations and cash flows. In November 2015, the FASB issued ASU No. 2015-17, "Balance Sheet Classification of Deferred Taxes," which requires entities to present deferred tax assets and deferred tax liabilities as noncurrent in a classified balance sheet. As a result, each jurisdiction will now only have one net noncurrent deferred tax asset or liability. This ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and entities are permitted to apply either prospectively or retrospectively; early adoption is permitted. The Company is currently evaluating the effects, if any, that the adoption of this guidance will have on the Company's financial position, results of operations and cash flows. In January 2016, the FASB issued ASU No. 2016-01, "Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities". The new standard principally affects accounting standards for equity investments, financial liabilities where the fair value option has been elected, and the presentation and disclosure requirements for financial instruments. Upon the effective date of the new standards, all equity investments in unconsolidated entities, other than those accounted for using the equity method of accounting, will generally be measured at fair value through earnings. There will no longer be an available-for-sale classification and therefore, no changes in fair value will be reported in other comprehensive income for equity securities with readily determinable fair values. The new guidance on the classification and measurement will be effective for public business entities in fiscal years beginning after December 15, 2017, including interim periods within those fiscal years and early adoption is permitted. The Company is in the process of evaluating the impact of the adoption of ASU 2016-01 on the Company's financial position, results of operations and cash flows. In February 2016, the FASB issued ASU 2016-02, "Leases" which, for operating leases, requires a lessee to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The standard also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, on a generally straight-line basis. The ASU is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the effects that the adoption of ASU 2016-02 will have on the Company's consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update 2016-08 Revenue from Contracts with Customers (Topic 606) to clarify implementation guidance on principal versus agent considerations (for reporting revenue on a gross or net basis). The ASU is an amendment to Topic 606, clarifies the implementation guidance, and requires an entity to account for revenue as an agent when another entity controls the specified good or service before that good or service is transferred to the customer. This ASU is effective for annual periods beginning after December 15, 2017. The Company is currently evaluating the effects, if any, which the adoption of this guidance will have on the Company's financial position, results of operations and cash flows. Principles of Consolidation These consolidated interim financial statements include the accounts of Fision Corporation, a Delaware corporation, and its wholly-owned Minnesota subsidiary, and all material intercompany transactions and balances have been eliminated in consolidation. Use of Estimates GAAP accounting principles require our management to make estimates and assumptions in the preparation of these interim financial statements 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 the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from these estimates and assumptions. The most significant areas requiring management judgment and which are susceptible to possible later change include our revenue recognition, cost of revenue, allowance for doubtful accounts, valuations of property and equipment, stock-based compensation, fair value of financial instruments, derivative securities, goodwill and other intangible assets, research and development, impairment of long-lived assets, and income taxes. The accounting policies for these areas are discussed following these Notes in the Item 2 section of this quarterly report entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations." Cash and Cash Equivalents We consider all short-term highly liquid investments with a remaining maturity at the date of purchase of three months or less to be cash equivalents. At March 31, 2016 and December 31, 2015 we had no cash equivalents. Concentration of Credit Risk and Customers Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and accounts receivable. During the quarter ended March 31, 2016, we may have had cash deposits in our bank that exceeded FDIC insurance limits. We maintain any bank accounts at high quality institutions and in demand accounts to mitigate this risk. Regarding our customers, we perform ongoing credit evaluations of them, and generally we do not require collateral from them to do business with us. For the three months ended March 31, 2016, only two customers exceeded 10% of our revenues, with revenue from the largest one, a new customer, being primarily based on one-time implementation and set-up fees. We do not believe that currently we face any material customer concentration risks, although a significant reduction for any reason in the use of our software solutions by one or more of our major customers could harm our business materially. Loss Per Common Share Basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period. Diluted net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding and potential common shares under the treasury stock method. Diluted net loss per common share is not shown, since the assumed exercise of stock options and warrants using the treasury stock method are anti-dilutive.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Note 2 - GOING CONCERN	These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company's ability to continue as a going concern is contingent upon its future ability to achieve and maintain profitable operations, and to raise additional capital as required until it attains profitable operations. At March 31, 2016 the Company had a working capital deficiency of approximately $1.24 million and an accumulated deficit of approximately $11.9 million. These conditions raise substantial doubt about the Company's ability to continue as a going concern. These unaudited quarterly financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty. Management is in the process of raising funds and otherwise addressing its ability to continue as a going concern, and management believes that its actions being taken to raise needed capital and implement its business plan will enable the Company to continue as a going concern.

NOTES PAYABLE

NOTES PAYABLE	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Note 3 - NOTES PAYABLE	At March 31, 2016 the Company was indebted under various Notes Payable in the total amount of $1,151,458 including accrued interest, and the majority amount of the Notes are matured and past due. A tabulated summary of these outstanding Notes is set forth in the following Item 2 section of this quarterly report entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations." Notes Payable Amount Owed* Decathlon LLC - Senior Secured Note, due 6/30/16, interest at 14% $ 153,789 Forte Ventures, Secured Note, all past due, interest at 15-21% 374,531 Hawkins Ventures, Secured Note, all past due, interest at 18% 91,779 Nottingham Securities Inc., due 6/30/16, interest at 10% 193,492 Nexeon Note, all past due, interest at 10% 28,826 Note payable to individual investor, all past due, interest at 12% 71,101 Note payable to individual investor, all past due, interest at 10% 63,790 Note payable to individual investor, all past due, interest at 6% 3,335 Notes payable to two principal officers, due on demand, interest at 6% 144,322 Note payable to individual investor, due 6/30/16, interest at 12% 26,493 Total $ 1,151,458 ________________ * Includes accrued interest

COMMITMENTS & CONTINGENCIES

COMMITMENTS & CONTINGENCIES	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Note 4 - COMMITMENTS & CONTINGENCIES	Operating Lease We lease 4,427 square feet of office, development and operational spaces in Minneapolis, Minnesota on a month-to-month basis for $7,142 per month including utilities, maintenance and cleaning. Rent paid for the three-month periods ended March 31, 2016 and December 31, 2015 were respectively $21,748 and $21,427. Employment Agreements We have two written employment agreements in effect with our two principle executive officers, including provisions for base salary, discretionary bonuses, severance provisions and other employee benefits. The salary terms of these agreements include aggregate monthly salaries of $32,500 per month. Litigation From time to time, we become subject to legal proceedings, claims and litigation arising in the ordinary course of business. Except for the following legal action involving a former employee, we currently are not a party to any material legal proceedings, nor are we aware of any other pending or threatened litigation that would have a material adverse effect on our business, operating results or financial condition should such litigation be resolved unfavorably against us. We are the defendant in a lawsuit brought by a former employee against us and our two principal executive officers in the United States District Court of Minnesota alleging (i) breach of an employment contract by us relating to employment from late 2012 through March 2014, (ii) various violations by us of certain federal and state employment laws, and (iii) our default on a $50,000 loan to us which was alleged to be assigned from a third party to this former employee. Our former employee alleges he is entitled to recover legal and equitable damages and relief in the amount of at least $200,000 along with certain statutory penalties and attorney's fees and costs. We believe and consider this lawsuit is unwarranted and without merit except for approximately $30,000 which is owed to our former employee pursuant to a written termination of his employment accepted and agreed to by him in 2014. We have answered this lawsuit and denied these unwarranted claims, and we intend to vigorously defend the lawsuit or settle it to our satisfaction.

2016 PLAN AND STOCK PAYMENT AWA

2016 PLAN AND STOCK PAYMENT AWARDS	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Note 5 - 2016 PLAN AND STOCK PAYMENT AWARDS	In March 2016, the Board of Directors of the Company adopted our 2016 Equity Incentive Plan ("2016 Plan") which was registered with the SEC pursuant to a Registration Statement on Form S-8 effective on March 30, 2016. This 2016 Plan reserved 2,500,000 shares of our common stock for grants of incentive awards from time to time to eligible participants, including option awards, restricted stock awards, or stock awards. Eligible participants under the 2016 Plan include employees, directors and consultants or advisors of the Company. In March 2016, our Board of Directors granted stock payment awards under the 2016 Plan for the issuance of an aggregate of 1,250,000.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Note 6 - STOCKHOLDERS' EQUITY	The Company is authorized to issue 500,000,000 shares of common stock and 20,000,000 shares of preferred stock, both having $.0001 par value per share. At March 31, 2016 there were 30,782,521 outstanding shares of common stock and no outstanding shares of preferred stock. Common Shares Issued As stated in the foregoing Note 5, the Company issued a total of 1,250,000 common shares as stock payment awards under its 2016 Plan valued in total at $812,500. These stock payment awards were issued for management bonuses, development and support services, marketing services, and professional services based on a valuation of $.65 per share. During the first quarter of 2016, the Company also sold and issued a total of 1,434,615 common shares in private placement transactions to raise working capital, and incident thereto raised net proceeds of $620,000. In February 2016, the Company issued 25,000 common shares for marketing services valued at $10,000; and in March 2016, the Company issued 250,000 common shares for financial services valued at $100,000. Warrant Issued In March 2016, pursuant to a one-year marketing agreement, the Company issued a five-year Warrant for marketing services to purchase up to 120,000 common shares exercisable at $.50 per share anytime in whole or in part until expiration of the Warrant, and which Warrant was valued at $30,000 pursuant to our Black Scholes valuation model. We calculated the price per share of the warrants at $0.25 per share per the Black Scholes valuation model.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Note 7 - RELATED PARTY TRANSACTIONS	Our Notes Payable at March 31, 2016 include the conversion of unpaid compensation owed to our two principal executive officers in the amount of $144,322. The notes payable on demand have an interest rate of 6% per annum. The Stock Payment Awards granted by us in March 2016 under our 2016 Equity Incentive Plan included executive bonus awards of 375,000 common shares to our CEO valued at $243,750, and 225,000 common shares to our CFO valued at $146,250. We valued the stock payment awards at $0.65 per share which is the same market price per share of previous stock sales by the Company. There are no vesting provisions associated with these stock payment awards to our CEO or CFO.

ORGANIZATION AND SIGNIFICANT 13

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Organization And Significant Accounting Policies Policies
Basis of Presentation	The accompanying consolidated financial statements are unaudited. These unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and pursuant to the rules and regulations of the SEC. Certain information and note disclosures which are included in annual financial statements have been omitted pursuant to these rules and regulations. We believe the disclosures made in these interim unaudited financial statements are adequate to make the information not misleading. Although these interim financial statements as and for the three months ended March 2016 and 2015 are unaudited, in the opinion of our management, such statements include all adjustments necessary to present fairly our financial position, results of operations and cash flows for the periods presented. The results for the three months ended March 31, 2016 are not necessarily indicative of the results to be expected for the year ended December 31, 2016 or for any future period. These unaudited interim financial statements should be read and considered in conjunction with our audited financial statements and the notes thereto for the year ended December 31, 2015, included in our annual report on Form 10-K filed with the SEC on April 15, 2016.
Net Loss per Share	Basic net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents, consisting of shares issuable upon exercise of common stock options. In periods when losses are reported, the weighted-average number of common shares outstanding excludes common stock equivalents because their inclusion would have an anti-dilutive effect. At March 31, 2016 and December 31, 2015, we had outstanding stock options to purchase 77,500 and 77,500 shares respectively and warrants to purchase 3,891,075 and 3,771,075 shares respectively that are anti-dilutive.
Recently Issued Accounting Pronouncements	In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2014-09, "Revenue from Contracts with Customers," which supersedes the revenue recognition requirements in Topic 605, "Revenue Recognition" and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU 2015-14, which defers by one year the effective date of ASU 2014-09. Accordingly, this guidance is effective for interim and annual periods beginning after December 15, 2017 with early adoption permitted for interim and annual periods beginning after December 15, 2016. The Company plans to adopt this guidance on January 1, 2018. The Company is currently evaluating the effects, if any, that the adoption of this guidance will have on the Company's financial position, results of operations and cash flows. In November 2015, the FASB issued ASU No. 2015-17, "Balance Sheet Classification of Deferred Taxes," which requires entities to present deferred tax assets and deferred tax liabilities as noncurrent in a classified balance sheet. As a result, each jurisdiction will now only have one net noncurrent deferred tax asset or liability. This ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and entities are permitted to apply either prospectively or retrospectively; early adoption is permitted. The Company is currently evaluating the effects, if any, that the adoption of this guidance will have on the Company's financial position, results of operations and cash flows. In January 2016, the FASB issued ASU No. 2016-01, "Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities". The new standard principally affects accounting standards for equity investments, financial liabilities where the fair value option has been elected, and the presentation and disclosure requirements for financial instruments. Upon the effective date of the new standards, all equity investments in unconsolidated entities, other than those accounted for using the equity method of accounting, will generally be measured at fair value through earnings. There will no longer be an available-for-sale classification and therefore, no changes in fair value will be reported in other comprehensive income for equity securities with readily determinable fair values. The new guidance on the classification and measurement will be effective for public business entities in fiscal years beginning after December 15, 2017, including interim periods within those fiscal years and early adoption is permitted. The Company is in the process of evaluating the impact of the adoption of ASU 2016-01 on the Company's financial position, results of operations and cash flows. In February 2016, the FASB issued ASU 2016-02, "Leases" which, for operating leases, requires a lessee to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The standard also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, on a generally straight-line basis. The ASU is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the effects that the adoption of ASU 2016-02 will have on the Company's consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update 2016-08 Revenue from Contracts with Customers (Topic 606) to clarify implementation guidance on principal versus agent considerations (for reporting revenue on a gross or net basis). The ASU is an amendment to Topic 606, clarifies the implementation guidance, and requires an entity to account for revenue as an agent when another entity controls the specified good or service before that good or service is transferred to the customer. This ASU is effective for annual periods beginning after December 15, 2017. The Company is currently evaluating the effects, if any, which the adoption of this guidance will have on the Company's financial position, results of operations and cash flows.
Principles of Consolidation	These consolidated interim financial statements include the accounts of Fision Corporation, a Delaware corporation, and its wholly-owned Minnesota subsidiary, and all material intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	GAAP accounting principles require our management to make estimates and assumptions in the preparation of these interim financial statements 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 the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from these estimates and assumptions. The most significant areas requiring management judgment and which are susceptible to possible later change include our revenue recognition, cost of revenue, allowance for doubtful accounts, valuations of property and equipment, stock-based compensation, fair value of financial instruments, derivative securities, goodwill and other intangible assets, research and development, impairment of long-lived assets, and income taxes. The accounting policies for these areas are discussed following these Notes in the Item 2 section of this quarterly report entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations."
Cash and Cash Equivalents	We consider all short-term highly liquid investments with a remaining maturity at the date of purchase of three months or less to be cash equivalents. At March 31, 2016 and December 31, 2015 we had no cash equivalents.
Concentration of Credit Risk and Customers	Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and accounts receivable. During the quarter ended March 31, 2016, we may have had cash deposits in our bank that exceeded FDIC insurance limits. We maintain any bank accounts at high quality institutions and in demand accounts to mitigate this risk. Regarding our customers, we perform ongoing credit evaluations of them, and generally we do not require collateral from them to do business with us. For the three months ended March 31, 2016, only two customers exceeded 10% of our revenues, with revenue from the largest one, a new customer, being primarily based on one-time implementation and set-up fees. We do not believe that currently we face any material customer concentration risks, although a significant reduction for any reason in the use of our software solutions by one or more of our major customers could harm our business materially.
Loss Per Common Share	Basic net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period. Diluted net loss per common share is computed by dividing the net loss by the weighted average number of common shares outstanding and potential common shares under the treasury stock method. Diluted net loss per common share is not shown, since the assumed exercise of stock options and warrants using the treasury stock method are anti-dilutive.

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Payable Tables
Notes Payable	Notes Payable Amount Owed* Decathlon LLC - Senior Secured Note, due 6/30/16, interest at 14% $ 153,789 Forte Ventures, Secured Note, all past due, interest at 15-21% 374,531 Hawkins Ventures, Secured Note, all past due, interest at 18% 91,779 Nottingham Securities Inc., due 6/30/16, interest at 10% 193,492 Nexeon Note, all past due, interest at 10% 28,826 Note payable to individual investor, all past due, interest at 12% 71,101 Note payable to individual investor, all past due, interest at 10% 63,790 Note payable to individual investor, all past due, interest at 6% 3,335 Notes payable to two principal officers, due on demand, interest at 6% 144,322 Note payable to individual investor, due 6/30/16, interest at 12% 26,493 Total $ 1,151,458

ORGANIZATION AND SIGNIFICANT 15

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	3 Months Ended
	Mar. 31, 2016Unitshares	Dec. 31, 2015shares
Organization And Significant Accounting Policies Details Narrative
Common stock outstanding shares purchase	77,500	77,500
Potentially dilutive securities anti-dilutive	3,891,075	3,771,075
Customers exceeded revenues	10.00%
No. of customers | Unit	2

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Going Concern Details Narrative
Accumulated deficit	$ (11,876,272)	$ (10,620,764)
Working capital deficiency	$ (1,240,000)

NOTES PAYABLE (Details)

NOTES PAYABLE (Details)	Mar. 31, 2016USD ($)
Notes payable	$ 1,151,458
Decathlon [Member]
Notes payable	153,789
Forte Ventures [Member]
Notes payable	374,531
Hawkins Ventures [Member]
Notes payable	91,779
Nottingham Securities [Member]
Notes payable	193,492
Nexeon [Member]
Notes payable	28,826
Individual Investor [Member]
Notes payable	71,101
Individual Investor 1 [Member]
Notes payable	63,790
Individual Investor 2 [Member]
Notes payable	3,335
Principal Officers [Member]
Notes payable	144,322
Individual Investor 3 [Member]
Notes payable	$ 26,493

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative)	Mar. 31, 2016USD ($)
Notes Payable Details Narrative
Notes payable	$ 1,151,458

COMMITMENTS & CONTINGENCIES (De

COMMITMENTS & CONTINGENCIES (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Commitments Contingencies Details Narrative
Rent expense	$ 21,748	$ 21,427

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Stockholders Equity Details Narrative
Common shares sold and issued for cash, shares	1,434,615
Proceeds from issuance of common stock	$ 620,000
Preferred stock, shares authorized	20,000,000		20,000,000
Preferred stock, par value	$ 0.0001		$ 0.0001
Preferred stock, shares issued	0		0
Preferred stock, shares outstanding	0		0
Common stock, shares authorized	500,000,000		500,000,000
Common stock, par value	$ 0.0001		$ 0.0001
Common stock, shares issued	30,782,521		19,662,809
Common stock, shares outstanding	30,782,521		19,662,809

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Related Party Transactions Details Narrative
Note payable and accrued interest - related party	$ 144,322	$ 174,125
Interest rate on related party	6.00%