10-Q Filing

IQSTEL INC CIK: 1527702 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001078782-17-000736`
Period End Date	20170331
Filing Date	20170518
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	psnx-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 72 Cash Flow Statement 48

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`	4.25M	shares	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
Cash or cash equivalents	`Cash`	$29.68K	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	3.19M	shares	Point-in-time
Refund Receivable	`RefundReceivable`	-	USD	Point-in-time
Refund Receivable	`RefundReceivable`	$20.24K	USD	Point-in-time
Preferred Stock, shares issued	`PreferredStockSharesIssued`	1.00M	shares	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	1.00M	shares	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	3.19M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$3.83K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	-	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, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$12.19K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$36.82K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$62.10K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
TOTAL ASSETS	`Assets`	$62.10K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$36.82K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	329.19M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	100.24M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	100.24M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	329.19M	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$54.80K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$46.58K	USD	Point-in-time
Loans - related party	`DueToRelatedPartiesCurrent`	$24.91K	USD	Point-in-time
Loans - related party	`DueToRelatedPartiesCurrent`	$19.07K	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayableCurrent`	$32.49K	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayableCurrent`	$173.69K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$7.20K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$112.24K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$260.60K	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 and 1,000,000 shares issued and outstanding at March 31, 2017 and June 30, 2016, respectively	`UnearnedESOPShares`	$1.00K	USD	Point-in-time
Preferred stock, $0.001 par value; 4,250,000 shares authorized; 3,187,500 and 1,000,000 shares issued and outstanding at March 31, 2017 and June 30, 2016, respectively	`UnearnedESOPShares`	$3.19K	USD	Point-in-time
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 329,188,708 and 100,235,384 shares issued and outstanding at March 31, 2017 and June 30, 2016, respectively	`CommonStockValue`	$100.23K	USD	Point-in-time
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 329,188,708 and 100,235,384 shares issued and outstanding at March 31, 2017 and June 30, 2016, respectively	`CommonStockValue`	$329.19K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$34.88K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$3.95K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-534.82K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-309.68K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquity`	$-198.50K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquity`	$-173.56K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$62.10K	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	3 Qtrs
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	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
Cost of goods sold	`CostOfGoodsSold`	-	USD	3 Qtrs
Gross margin	`GrossProfit`	-	USD	3 Qtrs
Gross margin	`GrossProfit`	-	USD	1 Quarter
Gross margin	`GrossProfit`	-	USD	3 Qtrs
Gross margin	`GrossProfit`	-	USD	1 Quarter
Consulting expenses	`OtherCostAndExpenseOperating`	$72.61K	USD	1 Quarter
Consulting expenses	`OtherCostAndExpenseOperating`	$29.90K	USD	1 Quarter
Consulting expenses	`OtherCostAndExpenseOperating`	$115.35K	USD	3 Qtrs
Consulting expenses	`OtherCostAndExpenseOperating`	$49.99K	USD	3 Qtrs
Marketing expenses	`MarketingExpense`	-	USD	1 Quarter
Marketing expenses	`MarketingExpense`	-	USD	3 Qtrs
Marketing expenses	`MarketingExpense`	$190.00	USD	3 Qtrs
Marketing expenses	`MarketingExpense`	-	USD	1 Quarter
Website and hosting	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Website and hosting	`ResearchAndDevelopmentExpense`	$332.00	USD	1 Quarter
Website and hosting	`ResearchAndDevelopmentExpense`	$541.00	USD	3 Qtrs
Website and hosting	`ResearchAndDevelopmentExpense`	$5.08K	USD	3 Qtrs
Other expenses	`OtherExpenses`	$26.95K	USD	3 Qtrs
Other expenses	`OtherExpenses`	$12.96K	USD	1 Quarter
Other expenses	`OtherExpenses`	$13.00	USD	3 Qtrs
Other expenses	`OtherExpenses`	-	USD	1 Quarter
Total expenses	`OperatingExpenses`	$72.61K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$43.20K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$77.67K	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$120.44K	USD	3 Qtrs
Interest expense	`InterestExpense`	$-6.55K	USD	3 Qtrs
Interest expense	`InterestExpense`	$-8.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$-1.68K	USD	1 Quarter
Interest expense	`InterestExpense`	$-8.00K	USD	1 Quarter
Derivative expense	`DerivativeExpense`	$-98.51K	USD	1 Quarter
Derivative expense	`DerivativeExpense`	$-44.51K	USD	1 Quarter
Derivative expense	`DerivativeExpense`	$-58.29K	USD	3 Qtrs
Derivative expense	`DerivativeExpense`	$-44.51K	USD	3 Qtrs
Change in derivative liability	`GainLossOnSaleOfDerivatives`	$1.06K	USD	3 Qtrs
Change in derivative liability	`GainLossOnSaleOfDerivatives`	$-39.59K	USD	1 Quarter
Change in derivative liability	`GainLossOnSaleOfDerivatives`	$-102.86K	USD	3 Qtrs
Change in derivative liability	`GainLossOnSaleOfDerivatives`	$1.06K	USD	1 Quarter
Gain on license fees	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Gain on license fees	`GainsLossesOnExtinguishmentOfDebt`	$20.24K	USD	3 Qtrs
Gain on license fees	`GainsLossesOnExtinguishmentOfDebt`	$20.24K	USD	1 Quarter
Gain on license fees	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$-119.54K	USD	1 Quarter
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$-51.45K	USD	3 Qtrs
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$-51.45K	USD	1 Quarter
Total other income/(expense)	`OtherOperatingIncomeExpenseNet`	$-147.47K	USD	3 Qtrs
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-124.06K	USD	1 Quarter
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-162.74K	USD	1 Quarter
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-225.14K	USD	3 Qtrs
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-171.89K	USD	3 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-162.74K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-225.14K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-124.06K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-171.89K	USD	3 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	3 Qtrs
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	348.80M	shares	3 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	190.55M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	348.80M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	190.55M	shares	3 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`ProfitLoss`	$-171.89K	USD	3 Qtrs
Net (loss)	`ProfitLoss`	$-225.14K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$7.14K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	3 Qtrs
Derivative expense	`DerivativeExpense1`	$161.15K	USD	3 Qtrs
Derivative expense	`DerivativeExpense1`	$44.52K	USD	3 Qtrs
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	3 Qtrs
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$-1.06K	USD	3 Qtrs
Shares issued for organizational expenses	`SharesIssuedForOrganizationalExpenses`	-	USD	3 Qtrs
Shares issued for organizational expenses	`SharesIssuedForOrganizationalExpenses`	$20.21K	USD	3 Qtrs
(Increase)/decrease in refund receivables	`IncreaseDecreaseInRefundReceivables`	$-20.24K	USD	3 Qtrs
(Increase)/decrease in refund receivables	`IncreaseDecreaseInRefundReceivables`	-	USD	3 Qtrs
(Increase)/decrease in prepaid	`IncreaseDecreaseInPrepaidExpense`	$3.83K	USD	3 Qtrs
(Increase)/decrease in prepaid	`IncreaseDecreaseInPrepaidExpense`	-	USD	3 Qtrs
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	$-7.92K	USD	3 Qtrs
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	$-2.99K	USD	3 Qtrs
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$39.24K	USD	3 Qtrs
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.22K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-54.95K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-89.98K	USD	3 Qtrs
Proceed from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Proceed from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Deferred offering expenses	`DeferredOfferingExpenses`	-	USD	3 Qtrs
Deferred offering expenses	`DeferredOfferingExpenses`	-	USD	3 Qtrs
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$5.84K	USD	3 Qtrs
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$13.92K	USD	3 Qtrs
Proceeds from loan - third party	`ProceedsFromLoans`	$55.00K	USD	3 Qtrs
Proceeds from loan - third party	`ProceedsFromLoans`	$76.50K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$90.42K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$60.84K	USD	3 Qtrs
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.89K	USD	3 Qtrs
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$441.00	USD	3 Qtrs
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`	$29.68K	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$23.79K	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`	$29.68K	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$23.79K	USD	Point-in-time
Interest	`InterestPaid`	-	USD	3 Qtrs
Interest	`InterestPaid`	-	USD	3 Qtrs
Income taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Income taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Issuance(Cancellation) of Common Stock 20M and (300M)	`IssuanceCancellationOfCommonStock20mAnd300m`	$-300.00K	USD	3 Qtrs
Issuance(Cancellation) of Common Stock 20M and (300M)	`IssuanceCancellationOfCommonStock20mAnd300m`	$20.00K	USD	3 Qtrs
Issuance of Preferred Stock 2.1M and 1M	`IssuanceOfPreferredStock21mAnd1m`	$2.19K	USD	3 Qtrs
Issuance of Preferred Stock 2.1M and 1M	`IssuanceOfPreferredStock21mAnd1m`	$1.00K	USD	3 Qtrs

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