10-Q/A Filing

IQSTEL INC CIK: 1527702 Q1 2017

Filing Information

Form Type	10-Q/A
Accession Number	`0001078782-17-000111`
Period End Date	20160930
Filing Date	20170126
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	psnx-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 34 Cash Flow Statement 40

Balance Sheet 50 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
Preferred stock, Shares Authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, Shares Authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash or cash equivalents	`Cash`	$4.96K	USD	Point-in-time
Cash or cash equivalents	`Cash`	$23.79K	USD	Point-in-time
Preferred stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Refund Receivable	`RefundReceivable`	$3.29K	USD	Point-in-time
Preferred stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Refund Receivable	`RefundReceivable`	-	USD	Point-in-time
Preferred stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrentAndNoncurrent`	$3.83K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrentAndNoncurrent`	$1.07K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$12.19K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$9.20K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$21.51K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$36.82K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	105.37M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	100.24M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$21.51K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$36.82K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	100.24M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	105.37M	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$51.77K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$46.58K	USD	Point-in-time
Loans - related party	`DueToRelatedPartiesCurrent`	$19.07K	USD	Point-in-time
Loans - related party	`DueToRelatedPartiesCurrent`	$20.93K	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayableCurrent`	$36.15K	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayableCurrent`	$32.49K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$77.07K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$112.24K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$185.92K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$210.38K	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 September 30, 2016 and June 30, 2016, 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 September 30, 2016 and June 30, 2016, respectively	`PreferredStockValue`	$1.00K	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized; 105,368,067 and 100,235,384 shares issued and outstanding at September 30, 2016 and June 30, 2016, respectively	`CommonStockValue`	$100.23K	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized; 105,368,067 and 100,235,384 shares issued and outstanding at September 30, 2016 and June 30, 2016, respectively	`CommonStockValue`	$105.37K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$80.30K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$34.88K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-309.68K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-351.07K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquity`	$-173.56K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquity`	$-164.40K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$21.51K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$36.82K	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	-	USD	1 Quarter
Gross margin	`GrossProfit`	-	USD	1 Quarter
Gross margin	`GrossProfit`	-	USD	1 Quarter
Consulting expenses	`OtherCostAndExpenseOperating`	$21.78K	USD	1 Quarter
Consulting expenses	`OtherCostAndExpenseOperating`	$14.75K	USD	1 Quarter
Marketing expenses	`MarketingExpense`	$190.00	USD	1 Quarter
Marketing expenses	`MarketingExpense`	-	USD	1 Quarter
Website and hosting	`ResearchAndDevelopmentExpense`	$5.00K	USD	1 Quarter
Website and hosting	`ResearchAndDevelopmentExpense`	$89.00	USD	1 Quarter
Other expenses	`OtherExpenses`	$5.05K	USD	1 Quarter
Other expenses	`OtherExpenses`	$13.00	USD	1 Quarter
Total expenses	`OperatingExpenses`	$20.08K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$26.79K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.28K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Derivative expense	`DerivativeExpense`	$-3.66K	USD	1 Quarter
Derivative expense	`DerivativeExpense`	-	USD	1 Quarter
Change in derivative liability	`GainLossOnSaleOfDerivatives`	$-15.37K	USD	1 Quarter
Change in derivative liability	`GainLossOnSaleOfDerivatives`	-	USD	1 Quarter
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$-21.31K	USD	1 Quarter
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	-	USD	1 Quarter
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-26.79K	USD	1 Quarter
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-41.39K	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-41.39K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-26.79K	USD	1 Quarter
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	92.85M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	100.00M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`ProfitLoss`	$-26.79K	USD	1 Quarter
Net (loss)	`ProfitLoss`	$-41.39K	USD	1 Quarter
Derivative expense	`DerivativeExpense1`	-	USD	1 Quarter
Derivative expense	`DerivativeExpense1`	$19.03K	USD	1 Quarter
(Increase)/decrease in refund receivables	`IncreaseDecreaseInRefundReceivables`	$-3.29K	USD	1 Quarter
(Increase)/decrease in refund receivables	`IncreaseDecreaseInRefundReceivables`	-	USD	1 Quarter
(Increase)/decrease in prepaid	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
(Increase)/decrease in prepaid	`IncreaseDecreaseInPrepaidExpense`	$2.76K	USD	1 Quarter
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	$-2.99K	USD	1 Quarter
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.19K	USD	1 Quarter
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$17.26K	USD	1 Quarter
Increase (decrease) in sales revenue received in advance	`IncreaseDecreaseInSalesRevenueReceivedInAdvance`	-	USD	1 Quarter
Increase (decrease) in sales revenue received in advance	`IncreaseDecreaseInSalesRevenueReceivedInAdvance`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-20.69K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.53K	USD	1 Quarter
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$9.72K	USD	1 Quarter
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$1.86K	USD	1 Quarter
Proceeds from loan - third party	`ProceedsFromLoans`	-	USD	1 Quarter
Proceeds from loan - third party	`ProceedsFromLoans`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.86K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.72K	USD	1 Quarter
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$187.00	USD	1 Quarter
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-18.83K	USD	1 Quarter
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$187.00	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$23.79K	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.96K	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$187.00	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$23.79K	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$4.96K	USD	Point-in-time
Interest	`InterestPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Exchange of Issuance of preferred stock (300M)	`ExchangeOfIssuanceOfPreferredStock300m`	$-300.00K	USD	1 Quarter
Exchange of Issuance of preferred stock (300M)	`ExchangeOfIssuanceOfPreferredStock300m`	-	USD	1 Quarter
Exchange of Issuance of preferred stock (1M)	`ExchangeOfIssuanceOfPreferredStock`	$1.00K	USD	1 Quarter
Exchange of Issuance of preferred stock (1M)	`ExchangeOfIssuanceOfPreferredStock`	-	USD	1 Quarter

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