10-Q Filing

IQSTEL INC CIK: 1527702 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001078782-16-002856`
Period End Date	20160331
Filing Date	20160518
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	psnx-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 64 Cash Flow Statement 38

Balance Sheet 42 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 or cash equivalents	`Cash`	$441.00	USD	Point-in-time
Cash or cash equivalents	`Cash`	-	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
Inventory	`InventoryNet`	$7.92K	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
Inventory	`InventoryNet`	-	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.37K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	-	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	400.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$8.37K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	100.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	-	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	400.00M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	100.00M	shares	Point-in-time
Account payable and Accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$47.39K	USD	Point-in-time
Account payable and Accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.14K	USD	Point-in-time
Loans - related party	`DueToRelatedPartiesCurrent`	$15.72K	USD	Point-in-time
Loans - related party	`DueToRelatedPartiesCurrent`	$1.80K	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayableCurrent`	$9.90K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$100.95K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$9.94K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$173.96K	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 March 31, 2016 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 March 31, 2016 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 March 31, 2016 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 March 31, 2016 and June 30, 2015, respectively	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$-30.08K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$-345.31K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-236.52K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-64.63K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquity`	$-165.60K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquity`	$-9.94K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$8.37K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	-	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	3 Qtrs
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	-	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	-	USD	3 Qtrs
Gross margin	`GrossProfit`	-	USD	1 Quarter
Gross margin	`GrossProfit`	-	USD	3 Qtrs
Gross margin	`GrossProfit`	-	USD	1 Quarter
Gross margin	`GrossProfit`	-	USD	3 Qtrs
Consulting and other expenses	`OtherCostAndExpenseOperating`	$72.61K	USD	1 Quarter
Consulting and other expenses	`OtherCostAndExpenseOperating`	$22.30K	USD	3 Qtrs
Consulting and other expenses	`OtherCostAndExpenseOperating`	$6.04K	USD	1 Quarter
Consulting and other expenses	`OtherCostAndExpenseOperating`	$115.35K	USD	3 Qtrs
Website and hosting	`ResearchAndDevelopmentExpense`	-	USD	3 Qtrs
Website and hosting	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Website and hosting	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Website and hosting	`ResearchAndDevelopmentExpense`	$5.08K	USD	3 Qtrs
Auto and truck expenses	`FreightCosts`	$13.00	USD	3 Qtrs
Auto and truck expenses	`FreightCosts`	-	USD	1 Quarter
Auto and truck expenses	`FreightCosts`	-	USD	1 Quarter
Auto and truck expenses	`FreightCosts`	-	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$120.44K	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$6.04K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$22.30K	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$72.61K	USD	1 Quarter
Interest expense	`InterestExpense`	$298.00	USD	1 Quarter
Interest expense	`InterestExpense`	$894.00	USD	3 Qtrs
Interest expense	`InterestExpense`	$8.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$8.00K	USD	1 Quarter
Derivative expense	`DerivativeExpense`	$-44.51K	USD	3 Qtrs
Derivative expense	`DerivativeExpense`	-	USD	3 Qtrs
Derivative expense	`DerivativeExpense`	$44.51K	USD	1 Quarter
Derivative expense	`DerivativeExpense`	-	USD	1 Quarter
Change in derivative liability	`GainLossOnSaleOfDerivatives`	-	USD	3 Qtrs
Change in derivative liability	`GainLossOnSaleOfDerivatives`	$-1.06K	USD	1 Quarter
Change in derivative liability	`GainLossOnSaleOfDerivatives`	-	USD	1 Quarter
Change in derivative liability	`GainLossOnSaleOfDerivatives`	$1.06K	USD	3 Qtrs
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$-51.45K	USD	3 Qtrs
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$894.00	USD	3 Qtrs
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$51.45K	USD	1 Quarter
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$298.00	USD	1 Quarter
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-23.19K	USD	3 Qtrs
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.34K	USD	1 Quarter
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-124.06K	USD	1 Quarter
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-171.89K	USD	3 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	$800.00	USD	3 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-124.06K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-171.89K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-6.34K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-23.99K	USD	3 Qtrs
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	190.55M	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	400.00M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	100.00M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	400.00M	shares	3 Qtrs

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`ProfitLoss`	$-171.89K	USD	3 Qtrs
Net (loss)	`ProfitLoss`	$-23.99K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$7.14K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	3 Qtrs
Derivative expense	`DerivativeExpense1`	$44.52K	USD	3 Qtrs
Derivative expense	`DerivativeExpense1`	-	USD	3 Qtrs
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$-1.06K	USD	3 Qtrs
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	3 Qtrs
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	$-7.92K	USD	3 Qtrs
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	-	USD	3 Qtrs
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$439.00	USD	3 Qtrs
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$39.24K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.55K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-89.98K	USD	3 Qtrs
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$13.92K	USD	3 Qtrs
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$23.55K	USD	3 Qtrs
Proceeds from convertible notes payable - unrelated parties	`ProceedsFromConvertibleDebt`	$76.50K	USD	3 Qtrs
Proceeds from convertible notes payable - unrelated parties	`ProceedsFromConvertibleDebt`	-	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$90.42K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$23.55K	USD	3 Qtrs
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$441.00	USD	3 Qtrs
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	3 Qtrs
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$441.00	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 END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$441.00	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Interest	`InterestPaid`	-	USD	3 Qtrs
Interest	`InterestPaid`	-	USD	3 Qtrs
Income taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Income taxes	`IncomeTaxesPaidNet`	$800.00	USD	3 Qtrs
Cancellation of Common Stock (300M)	`CancellationOfCommonStock300m`	$-300.00K	USD	3 Qtrs
Cancellation of Common Stock (300M)	`CancellationOfCommonStock300m`	-	USD	3 Qtrs
Issuance of Preferred Stock (1M)	`IssuanceOfPreferredStock1m`	-	USD	3 Qtrs
Issuance of Preferred Stock (1M)	`IssuanceOfPreferredStock1m`	$1.00K	USD	3 Qtrs

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