10-K/A Filing

IQSTEL INC CIK: 1527702 FY 2016

Filing Information

Form Type	10-K/A
Accession Number	`0001078782-17-000657`
Period End Date	20160630
Filing Date	20170515
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	psnx-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 36 Cash Flow Statement 39 Stockholders Equity 11

Balance Sheet 46 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
Cash and cash equivalents	`Cash`	-	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`Cash`	$23.79K	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
Prepaid Expenses	`PrepaidExpenseCurrent`	$3.83K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Inventory	`InventoryNet`	-	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
Inventory	`InventoryNet`	$9.20K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$36.82K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	400.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	-	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	100.24M	shares	Point-in-time
Total Other Assets	`OtherAssetsCurrent`	-	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`	400.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$36.82K	USD	Point-in-time
Accounts Payable and Accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.14K	USD	Point-in-time
Accounts Payable and Accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$46.58K	USD	Point-in-time
Loans - related party	`DueToRelatedPartiesCurrent`	$1.80K	USD	Point-in-time
Loans - related party	`DueToRelatedPartiesCurrent`	$19.07K	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayableCurrent`	$32.49K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$112.24K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$9.94K	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 June 30, 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 June 30, 2016 and June 30, 2015, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized; 100,235,564 and 400,000,000 shares issued and outstanding at June 30, 2016 and June 30, 2015, respectively	`CommonStockValue`	$400.00K	USD	Point-in-time
Common stock, $0.001 par value; 500,000,000 shares authorized; 100,235,564 and 400,000,000 shares issued and outstanding at June 30, 2016 and June 30, 2015, respectively	`CommonStockValue`	$100.23K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$34.88K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$-345.31K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-64.63K	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`	$-9.94K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	-	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$36.82K	USD	Point-in-time

Income Statement 36 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
Professional Fees and consulting expenses	`ProfessionalFees`	$106.44K	USD	1 Quarter
Professional Fees and consulting expenses	`ProfessionalFees`	$34.21K	USD	1 Quarter
Marketing expenses	`MarketingExpense`	-	USD	1 Quarter
Marketing expenses	`MarketingExpense`	$23.32K	USD	1 Quarter
Website and hosting	`ResearchAndDevelopmentExpense`	$5.08K	USD	1 Quarter
Website and hosting	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Other expenses	`OtherExpenses`	$1.87K	USD	1 Quarter
Other expenses	`OtherExpenses`	$40.03K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$36.08K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$174.87K	USD	1 Quarter
Interest expense	`InterestExpense`	$-25.99K	USD	1 Quarter
Interest expense	`InterestExpense`	$-994.00	USD	1 Quarter
Derivative expense	`DerivativeExpense`	-	USD	1 Quarter
Derivative expense	`DerivativeExpense`	$-13.40K	USD	1 Quarter
Change in derivative liability	`GainLossOnSaleOfDerivatives`	$-30.78K	USD	1 Quarter
Change in derivative liability	`GainLossOnSaleOfDerivatives`	-	USD	1 Quarter
Gain on relief of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on relief of debt	`GainsLossesOnExtinguishmentOfDebt`	$5.00K	USD	1 Quarter
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$-70.17K	USD	1 Quarter
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$4.01K	USD	1 Quarter
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-32.07K	USD	1 Quarter
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-245.05K	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	$800.00	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-32.87K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-245.05K	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`	150.73M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	400.00M	shares	1 Quarter

Cash Flow Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`ProfitLoss`	$-32.87K	USD	1 Quarter
Net (loss)	`ProfitLoss`	$-245.05K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$22.98K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Gain on Debt Relief	`GainOnDebtRelief`	-	USD	1 Quarter
Gain on Debt Relief	`GainOnDebtRelief`	$-5.00K	USD	1 Quarter
Derivative expense	`DerivativeExpense1`	$44.18K	USD	1 Quarter
Derivative expense	`DerivativeExpense1`	-	USD	1 Quarter
(Increase)/decrease in prepaid	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
(Increase)/decrease in prepaid	`IncreaseDecreaseInPrepaidExpense`	$-3.83K	USD	1 Quarter
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	$93.00	USD	1 Quarter
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	$-9.20K	USD	1 Quarter
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$45.44K	USD	1 Quarter
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.54K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-35.32K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-145.48K	USD	1 Quarter
Proceed from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceed from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$55.00K	USD	1 Quarter
Repayment of short term borrowings	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Repayment of short term borrowings	`RepaymentsOfShortTermDebt`	$-7.00K	USD	1 Quarter
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$35.23K	USD	1 Quarter
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$17.27K	USD	1 Quarter
Proceeds from loan - third party	`ProceedsFromLoans`	$104.00K	USD	1 Quarter
Proceeds from loan - third party	`ProceedsFromLoans`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$35.23K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$169.27K	USD	1 Quarter
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	1 Quarter
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$23.79K	USD	1 Quarter
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`	$23.79K	USD	Point-in-time
Interest	`InterestPaid`	-	USD	1 Quarter
Interest	`InterestPaid`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$800.00	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)	`ExchangeOfIssuanceOfPreferredStock1m`	-	USD	1 Quarter
Exchange of Issuance of preferred stock (1M)	`ExchangeOfIssuanceOfPreferredStock1m`	$1.00K	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`SharesOutstanding`	-44,360.00	shares	Point-in-time
Balance.	`Balance`	-9,943.00	shares	Point-in-time
Balance	`Balance1`	-173,557.00	shares	Point-in-time
Balance	`SharesOutstanding`	-44,360.00	shares	Point-in-time
Debt forgiveness from shareholder	`DebtForgivenessFromShareholder`	$67.29K	USD	Annual
Net loss for the year	`NetLossForTheYear2`	$-32.87K	USD	Annual
Balance.	`Balance`	-9,943.00	shares	Point-in-time
Issuance of common stock for cash	`IssuanceOfCommonStockForCash`	55,000.00	shares	Annual
Cashless exercise of warrant	`CashlessExerciseOfWarrant`	26,433.00	shares	Annual
Net loss for the year	`NetLossForTheYear3`	$-245.05K	USD	Annual
Balance	`Balance1`	-173,557.00	shares	Point-in-time

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