10-Q Filing

IQSTEL INC CIK: 1527702 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001078782-16-002324`
Period End Date	20151231
Filing Date	20160216
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	psnx-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 34 Income Statement 56 Cash Flow Statement 32

Balance Sheet 34 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$92.00	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
Cash	`Cash`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$92.00	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
TOTAL ASSETS	`Assets`	-	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	100.00M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	400.00M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	400.00M	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$8.14K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	100.00M	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$41.06K	USD	Point-in-time
Loans - related party	`DueToRelatedPartiesCurrent`	$1.80K	USD	Point-in-time
Loans - related party	`DueToRelatedPartiesCurrent`	$16.80K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$9.94K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$57.87K	USD	Point-in-time
Preferred stock, $0.001 par value; 1,000,000 shares authorized; 1,000,000 shares and none issued and outstanding at December 31, 2015 and June 30, 2015, respectively	`PreferredStockValue`	$1.00K	USD	Point-in-time
Preferred stock, $0.001 par value; 1,000,000 shares authorized; 1,000,000 shares and none issued and outstanding at December 31, 2015 and June 30, 2015, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized; 100,000,000 and 400,000,000 shares issued and outstanding at December 31, 2015 and June 30, 2015, respectively	`CommonStockValue`	$400.00K	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized; 100,000,000 and 400,000,000 shares issued and outstanding at December 31, 2015 and June 30, 2015, respectively	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$-46.31K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$-345.31K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-112.46K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-64.63K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-9.94K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-57.77K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	-	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$92.00	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	2 Qtrs
Revenue	`Revenues`	-	USD	2 Qtrs
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	-	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	-	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	-	USD	1 Quarter
Gross margin	`GrossProfit`	-	USD	2 Qtrs
Gross margin	`GrossProfit`	-	USD	1 Quarter
Gross margin	`GrossProfit`	-	USD	1 Quarter
Gross margin	`GrossProfit`	-	USD	2 Qtrs
Consulting and other expenses	`OtherCostAndExpenseOperating`	$5.60K	USD	1 Quarter
Consulting and other expenses	`OtherCostAndExpenseOperating`	$16.26K	USD	2 Qtrs
Consulting and other expenses	`OtherCostAndExpenseOperating`	$20.96K	USD	1 Quarter
Consulting and other expenses	`OtherCostAndExpenseOperating`	$42.74K	USD	2 Qtrs
Website and hosting	`ResearchAndDevelopmentExpense`	$79.00	USD	1 Quarter
Website and hosting	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Website and hosting	`ResearchAndDevelopmentExpense`	$5.08K	USD	2 Qtrs
Website and hosting	`ResearchAndDevelopmentExpense`	-	USD	2 Qtrs
Auto and truck expenses	`FreightCosts`	-	USD	2 Qtrs
Auto and truck expenses	`FreightCosts`	$13.00	USD	2 Qtrs
Auto and truck expenses	`FreightCosts`	-	USD	1 Quarter
Auto and truck expenses	`FreightCosts`	-	USD	1 Quarter
Total expenses	`OperatingExpenses`	$21.04K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$5.60K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$16.26K	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$47.83K	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$596.00	USD	2 Qtrs
Interest expense	`InterestExpense`	$300.00	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	2 Qtrs
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$-596.00	USD	2 Qtrs
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$-300.00	USD	1 Quarter
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	-	USD	1 Quarter
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	-	USD	2 Qtrs
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-21.04K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-47.83K	USD	2 Qtrs
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-16.85K	USD	2 Qtrs
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.90K	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	$800.00	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.90K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-17.65K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-21.04K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-47.83K	USD	2 Qtrs
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.00M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	235.33M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	100.00M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.00M	shares	2 Qtrs

Cash Flow Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`ProfitLoss`	$-17.65K	USD	2 Qtrs
Net income/(loss)	`ProfitLoss`	$-47.83K	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	-	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	-	USD	2 Qtrs
(Increase)/decrease in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-447.00	USD	2 Qtrs
(Increase)/decrease in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$299.00	USD	2 Qtrs
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$32.92K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-14.91K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.80K	USD	2 Qtrs
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$17.80K	USD	2 Qtrs
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$15.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$17.80K	USD	2 Qtrs
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$92.00	USD	2 Qtrs
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	2 Qtrs
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$92.00	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$92.00	USD	Point-in-time
Interest	`InterestPaid`	-	USD	2 Qtrs
Interest	`InterestPaid`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	$800.00	USD	2 Qtrs
Cancellation of Common Stock (300M)	`CancellationOfCommonStock300m`	-	USD	2 Qtrs
Cancellation of Common Stock (300M)	`CancellationOfCommonStock300m`	$-300.00K	USD	2 Qtrs
Issuance of Preferred Stock (1M)	`IssuanceOfPreferredStock1m`	$1.00K	USD	2 Qtrs
Issuance of Preferred Stock (1M)	`IssuanceOfPreferredStock1m`	-	USD	2 Qtrs

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