10-K Filing

IQSTEL INC CIK: 1527702 FY 2013

Filing Information

Form Type	10-K
Accession Number	`0001078782-13-001959`
Period End Date	20130630
Filing Date	20131003
Fiscal Year	2013
Fiscal Period	FY
XBRL Instance	bmi-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 46 Cash Flow Statement 66 Stockholders Equity 13

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParValue`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParValue`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Common stock, par value	`CommonStockParValues`	$0.00	USD	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Cash	`Cash`	$317.00	USD	Point-in-time
Common stock, par value	`CommonStockParValues`	$0.00	USD	Point-in-time
Inventory	`InventoryGross`	$530.00	USD	Point-in-time
Inventory	`InventoryGross`	$212.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued and outstanding	`CommonStockSharesIssued`	10.00M	shares	Point-in-time
Common stock, shares issued and outstanding	`CommonStockSharesIssued`	7.50M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$212.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$847.00	USD	Point-in-time
Deferred offering costs	`DeferredOfferingCost`	$60.44K	USD	Point-in-time
Deferred offering costs	`DeferredOfferingCost`	-	USD	Point-in-time
Intangible asset Product formulas, net	`IntangibleAssetProductFormulasNet`	$1.25K	USD	Point-in-time
Intangible asset Product formulas, net	`IntangibleAssetProductFormulasNet`	-	USD	Point-in-time
Total Other Assets	`OtherAssets`	-	USD	Point-in-time
Total Other Assets	`OtherAssets`	$61.69K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$212.00	USD	Point-in-time
TOTAL ASSETS	`Assets`	$62.54K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesFairValueDisclosure`	$68.53K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesFairValueDisclosure`	$14.41K	USD	Point-in-time
Sales revenue received in advance	`SalesRevenueReceivedInAdvance`	$5.00K	USD	Point-in-time
Sales revenue received in advance	`SalesRevenueReceivedInAdvance`	-	USD	Point-in-time
Loans related party	`LoansRelatedParty`	-	USD	Point-in-time
Loans related party	`LoansRelatedParty`	$1.24K	USD	Point-in-time
Loans unrelated parties	`LoansUnrelatedParties`	$12.43K	USD	Point-in-time
Loans unrelated parties	`LoansUnrelatedParties`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$19.41K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$82.20K	USD	Point-in-time
Preferred stock, $0.001 par value; 1,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 1,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 10,000,000 and 7,500,000 shares issued and outstanding, respectively	`CommonStockValueOutstanding`	$7.50K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 10,000,000 and 7,500,000 shares issued and outstanding, respectively	`CommonStockValueOutstanding`	$10.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$-22.60K	USD	Point-in-time
Deficit accumulated during development stage	`DeficitAccumulatedDuringDevelopmentStages`	$-6.60K	USD	Point-in-time
Deficit accumulated during development stage	`DeficitAccumulatedDuringDevelopmentStages`	$-27.16K	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY (DEFICIT)	`StockholdersEquity`	$-19.66K	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY (DEFICIT)	`StockholdersEquity`	$-19.20K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$62.54K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$212.00	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$1.75K	USD	8 Qtrs
Revenue	`Revenues`	-	USD	Annual
Revenue	`Revenues`	$1.75K	USD	Annual
Cost of goods gold	`CostOfGoodsGold`	$318.00	USD	8 Qtrs
Cost of goods gold	`CostOfGoodsGold`	$318.00	USD	Annual
Cost of goods gold	`CostOfGoodsGold`	-	USD	Annual
Gross margin	`GrossProfit`	-	USD	Annual
Gross margin	`GrossProfit`	$1.44K	USD	8 Qtrs
Gross margin	`GrossProfit`	$1.44K	USD	Annual
Samples/marketing expense	`SamplesmarketingExpense`	$2.99K	USD	Annual
Samples/marketing expense	`SamplesmarketingExpense`	$726.00	USD	Annual
Samples/marketing expense	`SamplesmarketingExpense`	$3.71K	USD	8 Qtrs
Consulting and other expenses	`OtherCostAndExpenseOperating`	$51.00K	USD	8 Qtrs
Consulting and other expenses	`OtherCostAndExpenseOperating`	$33.74K	USD	Annual
Consulting and other expenses	`OtherCostAndExpenseOperating`	$17.26K	USD	Annual
Amortization expense	`AmortizationOfFinancingCosts`	$1.25K	USD	Annual
Amortization expense	`AmortizationOfFinancingCosts`	$2.50K	USD	8 Qtrs
Amortization expense	`AmortizationOfFinancingCosts`	$1.25K	USD	Annual
Organization expenses	`OrganizationExpenses`	-	USD	Annual
Organization expenses	`OrganizationExpenses`	-	USD	Annual
Organization expenses	`OrganizationExpenses`	$5.67K	USD	8 Qtrs
Total Expenses	`TotalExpenses`	$62.88K	USD	8 Qtrs
Total Expenses	`TotalExpenses`	$35.71K	USD	Annual
Total Expenses	`TotalExpenses`	$21.50K	USD	Annual
Other expenses	`OtherExpenses`	-	USD	Annual
Other expenses	`OtherExpenses`	-	USD	Annual
Other expenses	`OtherExpenses`	-	USD	8 Qtrs
Gain on relief of debt	`GainOnReliefOfDebt`	-	USD	Annual
Gain on relief of debt	`GainOnReliefOfDebt`	$55.64K	USD	Annual
Gain on relief of debt	`GainOnReliefOfDebt`	$55.64K	USD	8 Qtrs
Total Other Income/(Expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$55.64K	USD	Annual
Total Other Income/(Expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	-	USD	Annual
Total Other Income/(Expense)	`OtherIncomeTaxExpenseBenefitContinuingOperations`	$55.64K	USD	8 Qtrs
Net Income/(Loss) before income tax	`NetIncomelossBeforeIncomeTax`	$-5.80K	USD	8 Qtrs
Net Income/(Loss) before income tax	`NetIncomelossBeforeIncomeTax`	$21.36K	USD	Annual
Net Income/(Loss) before income tax	`NetIncomelossBeforeIncomeTax`	$-21.50K	USD	Annual
Provision for income tax	`ProvisionForIncomeTax`	$800.00	USD	Annual
Provision for income tax	`ProvisionForIncomeTax`	$800.00	USD	8 Qtrs
Provision for income tax	`ProvisionForIncomeTax`	-	USD	Annual
Net income/(loss)	`NetIncomeLoss1`	$-6.60K	USD	8 Qtrs
Net income/(loss)	`NetIncomeLoss1`	$20.56K	USD	Annual
Net income/(loss)	`NetIncomeLoss1`	$-21.50K	USD	Annual
Basic and diluted income/(loss) per share	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	Annual
Basic and diluted income/(loss) per share	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	-	USD	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	7.50M	shares	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	9.78M	shares	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`NetIncomeLoss`	$-21.50K	USD	Annual
Net income/(loss)	`NetIncomeLoss`	$-6.60K	USD	8 Qtrs
Net income/(loss)	`NetIncomeLoss`	$20.56K	USD	Annual
Amortization	`Amortization`	$1.25K	USD	Annual
Amortization	`Amortization`	$2.50K	USD	8 Qtrs
Amortization	`Amortization`	$1.25K	USD	Annual
Gain on debt relief	`GainOnDebtRelief`	$-55.64K	USD	Annual
Gain on debt relief	`GainOnDebtRelief`	-	USD	Annual
Gain on debt relief	`GainOnDebtRelief`	$-55.64K	USD	8 Qtrs
Shares issued for organizational expense	`SharesIssuedForOrganizationalExpense`	-	USD	Annual
Shares issued for organizational expense	`SharesIssuedForOrganizationalExpense`	-	USD	Annual
Shares issued for organizational expense	`SharesIssuedForOrganizationalExpense`	$5.00K	USD	8 Qtrs
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	$318.00	USD	Annual
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	$-530.00	USD	Annual
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	$-212.00	USD	8 Qtrs
Increase in sales revenue received in advance	`IncreaseInSalesRevenueReceivedInAdvance`	$5.00K	USD	8 Qtrs
Increase in sales revenue received in advance	`IncreaseInSalesRevenueReceivedInAdvance`	$5.00K	USD	Annual
Increase in sales revenue received in advance	`IncreaseInSalesRevenueReceivedInAdvance`	-	USD	Annual
Increase in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$50.31K	USD	8 Qtrs
Increase in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$67.87K	USD	Annual
Increase in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$17.58K	USD	Annual
(Increase) in deferred expenses	`IncreaseDecreaseInDeferredCharges`	-	USD	8 Qtrs
(Increase) in deferred expenses	`IncreaseDecreaseInDeferredCharges`	-	USD	Annual
(Increase) in deferred expenses	`IncreaseDecreaseInDeferredCharges`	$-60.44K	USD	Annual
Net cash provided by (used in) operating activities	`CashProvidedByUsedInDiscontinuedOperationsOperatingActivities`	$-10.93K	USD	Annual
Net cash provided by (used in) operating activities	`CashProvidedByUsedInDiscontinuedOperationsOperatingActivities`	$363.00	USD	8 Qtrs
Net cash provided by (used in) operating activities	`CashProvidedByUsedInDiscontinuedOperationsOperatingActivities`	$-13.35K	USD	Annual
CASH FLOW FROM INVESTING ACTIVITIES	`CashProvidedByUsedInDiscontinuedOperationsInvestingActivities`	-	USD	Annual
CASH FLOW FROM INVESTING ACTIVITIES	`CashProvidedByUsedInDiscontinuedOperationsInvestingActivities`	-	USD	Annual
CASH FLOW FROM INVESTING ACTIVITIES	`CashProvidedByUsedInDiscontinuedOperationsInvestingActivities`	-	USD	8 Qtrs
Common stock issued for cash	`CommonStockIssuedForCash`	$25.00K	USD	Annual
Common stock issued for cash	`CommonStockIssuedForCash`	-	USD	Annual
Common stock issued for cash	`CommonStockIssuedForCash`	$25.00K	USD	8 Qtrs
Deferred offering expenses paid in cash	`DeferredOfferingExpensesPaidInCash`	$-26.94K	USD	Annual
Deferred offering expenses paid in cash	`DeferredOfferingExpensesPaidInCash`	-	USD	Annual
Deferred offering expenses paid in cash	`DeferredOfferingExpensesPaidInCash`	$-46.44K	USD	8 Qtrs
Proceeds from loans - unrelated parties	`ProceedsFromLoansUnrelatedParties`	$17.43K	USD	Annual
Proceeds from loans - unrelated parties	`ProceedsFromLoansUnrelatedParties`	$13.08K	USD	Annual
Proceeds from loans - unrelated parties	`ProceedsFromLoansUnrelatedParties`	$24.74K	USD	8 Qtrs
Repayment of loans - unrelated party	`RepaymentOfLoansUnrelatedParty`	-	USD	Annual
Repayment of loans - unrelated party	`RepaymentOfLoansUnrelatedParty`	$-5.00K	USD	Annual
Repayment of loans - unrelated party	`RepaymentOfLoansUnrelatedParty`	$-5.00K	USD	8 Qtrs
Proceeds from loan - related party	`ProceedsFromLoanRelatedParty`	$1.24K	USD	Annual
Proceeds from loan - related party	`ProceedsFromLoanRelatedParty`	$1.34K	USD	8 Qtrs
Proceeds from loan - related party	`ProceedsFromLoanRelatedParty`	$101.00	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedFinancingActivities`	$13.66K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedFinancingActivities`	$11.24K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedFinancingActivities`	$-363.00	USD	8 Qtrs
CHANGE IN CASH	`ChangeInCash`	-	USD	8 Qtrs
CHANGE IN CASH	`ChangeInCash`	$317.00	USD	Annual
CHANGE IN CASH	`ChangeInCash`	$317.00	USD	Annual
CASH AT BEGINNING OF PERIOD	`CashAtBeginningOfYear`	-	USD	Annual
CASH AT BEGINNING OF PERIOD	`CashAtBeginningOfYear`	$317.00	USD	Annual
CASH AT BEGINNING OF PERIOD	`CashAtBeginningOfYear`	-	USD	8 Qtrs
CASH AT END OF PERIOD	`CashAtEndOfYear`	-	USD	8 Qtrs
CASH AT END OF PERIOD	`CashAtEndOfYear`	$317.00	USD	Annual
CASH AT END OF PERIOD	`CashAtEndOfYear`	-	USD	Annual
Interest	`InterestPaid`	-	USD	8 Qtrs
Interest	`InterestPaid`	-	USD	Annual
Interest	`InterestPaid`	-	USD	Annual
Income taxes	`IncomeTaxesPaid`	$800.00	USD	8 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	Annual
Income taxes	`IncomeTaxesPaid`	$800.00	USD	Annual
Stock issued for acquiring formulas and product samples	`StockIssuedForAcquiringFormulasAndProductSamples`	$2.50K	USD	8 Qtrs
Stock issued for acquiring formulas and product samples	`StockIssuedForAcquiringFormulasAndProductSamples`	-	USD	Annual
Stock issued for acquiring formulas and product samples	`StockIssuedForAcquiringFormulasAndProductSamples`	-	USD	Annual

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance - June 24, 2011 (date of inception)	`SharesIssued`	-19,202.00	shares	Point-in-time
Balance - June 24, 2011 (date of inception)	`SharesIssued`	-	shares	Point-in-time
Shares issued for organizational costs on June 27, 2011	`SharesIssuedForOrganizationalCostsOnJune272011`	$5.00K	USD	8 Qtrs
Shares issued to acquire product formula and samples on June 27, 2011	`SharesIssuedToAcquireProductFormulaAndSamplesOnJune272011`	$2.50K	USD	8 Qtrs
Net (loss)	`NetLoss`	$-5.67K	USD	8 Qtrs
Balance - June 30, 2011	`BalanceJune302011`	$1.83K	USD	8 Qtrs
Net (loss)	`NetLoss1`	$-21.50K	USD	8 Qtrs
Balance - June 30, 2012	`BalanceJune302012`	$-19.66K	USD	8 Qtrs
Shares issued for cash	`SharesIssuedForCash`	$25.00K	USD	8 Qtrs
Expenses charged to capital upon completion of offering	`ExpensesChargedToCapitalUponCompletionOfOffering`	$-46.44K	USD	8 Qtrs
Net income	`NetIncome`	$20.56K	USD	8 Qtrs
Balance - June 30, 2013	`SharesIssued`	-19,202.00	shares	Point-in-time
Balance - June 30, 2013	`SharesIssued`	-	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.