10-Q/A Filing

IQSTEL INC CIK: 1527702 Q2 2017

Filing Information

Form Type	10-Q/A
Accession Number	`0001078782-17-000261`
Period End Date	20161231
Filing Date	20170224
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	psnx-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 72 Cash Flow Statement 44

Balance Sheet 52 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`	$59.00	USD	Point-in-time
Cash or cash equivalents	`Cash`	$23.79K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.25M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.25M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	3.19M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$3.83K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Inventory	`InventoryNet`	$12.19K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3.19M	shares	Point-in-time
Inventory	`InventoryNet`	$9.20K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$12.25K	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 Current Assets	`AssetsCurrent`	$36.82K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	100.24M	shares	Point-in-time
Intangible asset - Product formulas, net	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	198.37M	shares	Point-in-time
Intangible asset - Product formulas, net	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	100.24M	shares	Point-in-time
Total Other Assets	`OtherAssetsCurrent`	-	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	198.37M	shares	Point-in-time
Total Other Assets	`OtherAssetsCurrent`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$36.82K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$12.25K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$46.58K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$50.34K	USD	Point-in-time
Loans - related party	`DueToRelatedPartiesCurrent`	$19.07K	USD	Point-in-time
Loans - related party	`DueToRelatedPartiesCurrent`	$22.90K	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayableCurrent`	$29.42K	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayableCurrent`	$32.49K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$11.23K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$112.24K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$113.88K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$210.38K	USD	Point-in-time
Preferred stock, $0.001 par value; 4,250,000 shares authorized; 3,187,500 shares and 1,000,000 issued and outstanding at December 31, 2016 and June 30, 2016, respectively	`PreferredStockValue`	$3.19K	USD	Point-in-time
Preferred stock, $0.001 par value; 4,250,000 shares authorized; 3,187,500 shares and 1,000,000 issued and outstanding at December 31, 2016 and June 30, 2016, respectively	`PreferredStockValue`	$1.00K	USD	Point-in-time
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 198,369,644 and 100,235,384 shares issued and outstanding at December 31, 2016 and June 30, 2016, respectively	`CommonStockValue`	$100.23K	USD	Point-in-time
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 198,369,644 and 100,235,384 shares issued and outstanding at December 31, 2016 and June 30, 2016, respectively	`CommonStockValue`	$198.37K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$68.89K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$34.88K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-372.08K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-309.68K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquity`	$-173.56K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquity`	$-101.64K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$12.25K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$36.82K	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	2 Qtrs
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	-	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	-	USD	2 Qtrs
Gross margin	`GrossProfit`	-	USD	1 Quarter
Gross margin	`GrossProfit`	-	USD	2 Qtrs
Gross margin	`GrossProfit`	-	USD	2 Qtrs
Gross margin	`GrossProfit`	-	USD	1 Quarter
Consulting expenses	`OtherCostAndExpenseOperating`	$20.09K	USD	2 Qtrs
Consulting expenses	`OtherCostAndExpenseOperating`	$8.19K	USD	1 Quarter
Consulting expenses	`OtherCostAndExpenseOperating`	$25.45K	USD	2 Qtrs
Consulting expenses	`OtherCostAndExpenseOperating`	$7.25K	USD	1 Quarter
Marketing expenses	`MarketingExpense`	-	USD	1 Quarter
Marketing expenses	`MarketingExpense`	-	USD	1 Quarter
Marketing expenses	`MarketingExpense`	-	USD	2 Qtrs
Marketing expenses	`MarketingExpense`	$190.00	USD	2 Qtrs
Website and hosting	`ResearchAndDevelopmentExpense`	$120.00	USD	1 Quarter
Website and hosting	`ResearchAndDevelopmentExpense`	$79.00	USD	1 Quarter
Website and hosting	`ResearchAndDevelopmentExpense`	$209.00	USD	2 Qtrs
Website and hosting	`ResearchAndDevelopmentExpense`	$5.08K	USD	2 Qtrs
Other expenses	`OtherExpenses`	$17.30K	USD	2 Qtrs
Other expenses	`OtherExpenses`	$13.99K	USD	2 Qtrs
Other expenses	`OtherExpenses`	$13.71K	USD	1 Quarter
Other expenses	`OtherExpenses`	$6.09K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$14.40K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$34.48K	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$47.83K	USD	2 Qtrs
Total expenses	`OperatingExpenses`	$21.04K	USD	1 Quarter
Interest expense	`InterestExpense`	$-2.59K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$-4.87K	USD	2 Qtrs
Derivative expense	`DerivativeExpense`	$-4.36K	USD	2 Qtrs
Derivative expense	`DerivativeExpense`	-	USD	1 Quarter
Derivative expense	`DerivativeExpense`	-	USD	2 Qtrs
Derivative expense	`DerivativeExpense`	$-698.00	USD	1 Quarter
Change in derivative liability	`GainLossOnSaleOfDerivatives`	$-3.33K	USD	1 Quarter
Change in derivative liability	`GainLossOnSaleOfDerivatives`	-	USD	1 Quarter
Change in derivative liability	`GainLossOnSaleOfDerivatives`	-	USD	2 Qtrs
Change in derivative liability	`GainLossOnSaleOfDerivatives`	$-18.70K	USD	2 Qtrs
Gain on relief of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on relief of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on relief of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on relief of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	-	USD	2 Qtrs
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$-6.62K	USD	1 Quarter
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	-	USD	1 Quarter
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$-27.93K	USD	2 Qtrs
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-47.83K	USD	2 Qtrs
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-21.02K	USD	1 Quarter
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-21.04K	USD	1 Quarter
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-62.40K	USD	2 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-21.04K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-62.40K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-47.83K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-21.02K	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
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	0.00	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	0.00	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	224.22M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	235.33M	shares	2 Qtrs

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`ProfitLoss`	$-47.83K	USD	2 Qtrs
Net (loss)	`ProfitLoss`	$-62.40K	USD	2 Qtrs
Derivative expense	`DerivativeExpense1`	$23.05K	USD	2 Qtrs
Derivative expense	`DerivativeExpense1`	-	USD	2 Qtrs
Shares issued for organizational expenses	`SharesIssuedForOrganizationalExpenses`	-	USD	2 Qtrs
Shares issued for organizational expenses	`SharesIssuedForOrganizationalExpenses`	$7.19K	USD	2 Qtrs
(Increase)/decrease in prepaid	`IncreaseDecreaseInPrepaidExpense`	$3.83K	USD	2 Qtrs
(Increase)/decrease in prepaid	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	-	USD	2 Qtrs
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	$-2.99K	USD	2 Qtrs
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$32.92K	USD	2 Qtrs
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.76K	USD	2 Qtrs
Increase (decrease) in sales revenue received in advance	`IncreaseDecreaseInSalesRevenueReceivedInAdvance`	-	USD	2 Qtrs
Increase (decrease) in sales revenue received in advance	`IncreaseDecreaseInSalesRevenueReceivedInAdvance`	-	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-27.56K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-14.91K	USD	2 Qtrs
Proceed from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceed from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Deferred offering expenses	`DeferredOfferingExpenses`	-	USD	2 Qtrs
Deferred offering expenses	`DeferredOfferingExpenses`	-	USD	2 Qtrs
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$15.00K	USD	2 Qtrs
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$3.83K	USD	2 Qtrs
Proceeds from loan - third party	`ProceedsFromLoans`	-	USD	2 Qtrs
Proceeds from loan - third party	`ProceedsFromLoans`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.83K	USD	2 Qtrs
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-23.73K	USD	2 Qtrs
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$92.00	USD	2 Qtrs
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$59.00	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$92.00	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 END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$59.00	USD	Point-in-time
CASH AT END 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`	$23.79K	USD	Point-in-time
Interest	`InterestPaid`	-	USD	2 Qtrs
Interest	`InterestPaid`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Issuance(Cancellation) of Common Stock 20M and (300M)	`IssuanceCancellationOfCommonStock20mAnd300m`	$-300.00K	USD	2 Qtrs
Issuance(Cancellation) of Common Stock 20M and (300M)	`IssuanceCancellationOfCommonStock20mAnd300m`	$20.00K	USD	2 Qtrs
Issuance of Preferred Stock 2.1M and 1M	`IssuanceOfPreferredStock21mAnd1m`	$1.00K	USD	2 Qtrs
Issuance of Preferred Stock 2.1M and 1M	`IssuanceOfPreferredStock21mAnd1m`	$2.19K	USD	2 Qtrs

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