10-Q Filing

IQSTEL INC CIK: 1527702 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001078782-18-000591`
Period End Date	20180331
Filing Date	20180521
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	prsnx-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 74 Cash Flow Statement 48

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	8.50M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	8.50M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.68K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	3.19M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	3.19M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.79K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.70K	USD	Point-in-time
Refund Receivable	`AccountsAndOtherReceivablesNetCurrent`	$20.24K	USD	Point-in-time
Refund Receivable	`AccountsAndOtherReceivablesNetCurrent`	$20.24K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	3.19M	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	3.19M	shares	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$20.24K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$20.24K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts Receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts Receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Assets	`Assets`	-	USD	Point-in-time
Assets	`Assets`	$15.70K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	75,004.00	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	23,004.00	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	23,004.00	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	75,004.00	shares	Point-in-time
Cash overdraft	`CashOverdraft`	$108.00	USD	Point-in-time
Cash overdraft	`CashOverdraft`	-	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$65.14K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$79.67K	USD	Point-in-time
Loans - related party	`OtherLoansPayableCurrent`	$26.59K	USD	Point-in-time
Loans - related party	`OtherLoansPayableCurrent`	$25.92K	USD	Point-in-time
Convertible notes payable, net	`ConvertibleDebtCurrent`	$35.57K	USD	Point-in-time
Convertible notes payable, net	`ConvertibleDebtCurrent`	-	USD	Point-in-time
Derivative liability	`DerivativeInstrumentsAndHedgesLiabilities`	-	USD	Point-in-time
Derivative liability	`DerivativeInstrumentsAndHedgesLiabilities`	$98.04K	USD	Point-in-time
Liabilities	`Liabilities`	$224.68K	USD	Point-in-time
Liabilities	`Liabilities`	$106.37K	USD	Point-in-time
Preferred Stock, Value, Issued	`PreferredStockValue`	$3.19K	USD	Point-in-time
Preferred Stock, Value, Issued	`PreferredStockValue`	$3.19K	USD	Point-in-time
Common Stock, Value, Issued	`CommonStockValue`	$23.00	USD	Point-in-time
Common Stock, Value, Issued	`CommonStockValue`	$75.00	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$361.18K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$647.68K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-757.32K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-573.37K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-106.37K	USD	Point-in-time
TOTAL STOCKHOLDERS' DEFICIT	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-208.98K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	-	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$15.70K	USD	Point-in-time

Income Statement 74 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	-	USD	3 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	-	USD	3 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	-	USD	1 Quarter
Gross margin	`GrossMargin`	-	USD	3 Qtrs
Gross margin	`GrossMargin`	-	USD	1 Quarter
Gross margin	`GrossMargin`	-	USD	3 Qtrs
Gross margin	`GrossMargin`	-	USD	1 Quarter
Professional fees and consulting expenses	`OtherCostAndExpenseOperating`	$10.17K	USD	1 Quarter
Professional fees and consulting expenses	`OtherCostAndExpenseOperating`	$63.79K	USD	3 Qtrs
Professional fees and consulting expenses	`OtherCostAndExpenseOperating`	$39.16K	USD	1 Quarter
Professional fees and consulting expenses	`OtherCostAndExpenseOperating`	$40.63K	USD	3 Qtrs
Marketing expenses	`MarketingExpense`	-	USD	1 Quarter
Marketing expenses	`MarketingExpense`	-	USD	3 Qtrs
Marketing expenses	`MarketingExpense`	-	USD	1 Quarter
Marketing expenses	`MarketingExpense`	$190.00	USD	3 Qtrs
Website and hosting	`CommunicationsAndInformationTechnology`	$45.00	USD	1 Quarter
Website and hosting	`CommunicationsAndInformationTechnology`	$332.00	USD	1 Quarter
Website and hosting	`CommunicationsAndInformationTechnology`	$541.00	USD	3 Qtrs
Website and hosting	`CommunicationsAndInformationTechnology`	$461.00	USD	3 Qtrs
Loss on Inventory	`OtherGeneralExpense`	-	USD	3 Qtrs
Loss on Inventory	`OtherGeneralExpense`	-	USD	3 Qtrs
Other expenses	`OtherGeneralAndAdministrativeExpense`	$3.24K	USD	3 Qtrs
Other expenses	`OtherGeneralAndAdministrativeExpense`	$13.15K	USD	3 Qtrs
Other expenses	`OtherGeneralAndAdministrativeExpense`	$293.00	USD	1 Quarter
Other expenses	`OtherGeneralAndAdministrativeExpense`	$3.70K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$77.67K	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$10.51K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$44.33K	USD	3 Qtrs
Total expenses	`CostsAndExpenses`	$43.20K	USD	1 Quarter
Interest Expense	`InterestExpense`	$1.68K	USD	1 Quarter
Interest Expense	`InterestExpense`	$6.55K	USD	3 Qtrs
Interest Expense	`InterestExpense`	$1.68K	USD	3 Qtrs
Interest Expense	`InterestExpense`	$156.00	USD	1 Quarter
Derivative expense	`DerivativeCostOfHedge`	$98.51K	USD	1 Quarter
Derivative expense	`DerivativeCostOfHedge`	$58.29K	USD	3 Qtrs
Derivative expense	`DerivativeCostOfHedge`	$137.94K	USD	3 Qtrs
Derivative expense	`DerivativeCostOfHedge`	$128.43K	USD	1 Quarter
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	1 Quarter
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$102.86K	USD	3 Qtrs
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$39.59K	USD	1 Quarter
Change in derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	3 Qtrs
Gain on license fees	`OtherNonoperatingIncome`	-	USD	3 Qtrs
Gain on license fees	`OtherNonoperatingIncome`	-	USD	1 Quarter
Gain on license fees	`OtherNonoperatingIncome`	$20.24K	USD	3 Qtrs
Gain on license fees	`OtherNonoperatingIncome`	$20.24K	USD	1 Quarter
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$-119.54K	USD	1 Quarter
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$-147.47K	USD	3 Qtrs
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$-128.59K	USD	1 Quarter
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$-139.62K	USD	3 Qtrs
Net loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-139.10K	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`	$-183.95K	USD	3 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`ProfitLoss`	$-225.14K	USD	3 Qtrs
Net loss	`ProfitLoss`	$-162.74K	USD	1 Quarter
Net loss	`ProfitLoss`	$-139.10K	USD	1 Quarter
Net loss	`ProfitLoss`	$-183.95K	USD	3 Qtrs
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	$-11.92	USD	1 Quarter
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	$-16.49	USD	3 Qtrs
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	$-2.51	USD	1 Quarter
Basic and diluted income/(loss) per share	`EarningsPerShareBasicAndDiluted`	$-4.53	USD	3 Qtrs
Weighted Average Number of Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13,657.00	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	55,515.00	shares	1 Quarter
Weighted Average Number of Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40,642.00	shares	3 Qtrs
Weighted Average Number of Shares Outstanding, Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13,657.00	shares	3 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-225.14K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-183.95K	USD	3 Qtrs
Amortization of debt discount	`AdjustmentForAmortization`	$161.15K	USD	3 Qtrs
Amortization of debt discount	`AdjustmentForAmortization`	$85.91K	USD	3 Qtrs
Derivative expense	`GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments`	$-42.52K	USD	3 Qtrs
Derivative expense	`GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments`	-	USD	3 Qtrs
Change in derivative liability	`ChangeInDerivativeLiability`	-	USD	3 Qtrs
Change in derivative liability	`ChangeInDerivativeLiability`	-	USD	3 Qtrs
Shares issued for services	`SharesIssuedForOrganizationalExpenses`	-	USD	3 Qtrs
Shares issued for services	`SharesIssuedForOrganizationalExpenses`	$-2.19K	USD	3 Qtrs
(Increase)/decrease in accounts receivables, net	`IncreaseDecreaseInReceivables`	-	USD	3 Qtrs
(Increase)/decrease in accounts receivables, net	`IncreaseDecreaseInReceivables`	$20.24K	USD	3 Qtrs
(Increase)/decrease in prepaid	`IncreaseDecreaseInUnbilledReceivables`	$-3.83K	USD	3 Qtrs
(Increase)/decrease in prepaid	`IncreaseDecreaseInUnbilledReceivables`	-	USD	3 Qtrs
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	$2.99K	USD	3 Qtrs
(Increase)/decrease in inventory	`IncreaseDecreaseInInventories`	-	USD	3 Qtrs
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$24.04K	USD	3 Qtrs
Increase/(decrease) in accrued expenses and accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$26.24K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-31.48K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-54.95K	USD	3 Qtrs
Bank overdraft	`BankOverdraft`	$-108.00	USD	3 Qtrs
Bank overdraft	`BankOverdraft`	-	USD	3 Qtrs
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$5.84K	USD	3 Qtrs
Proceeds from loan - related parties	`ProceedsFromRelatedPartyDebt`	$672.00	USD	3 Qtrs
Proceeds from loan - third party	`ProceedsFromIssuanceOfOtherLongTermDebt`	$15.00K	USD	3 Qtrs
Proceeds from loan - third party	`ProceedsFromIssuanceOfOtherLongTermDebt`	$55.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$60.84K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.78K	USD	3 Qtrs
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.89K	USD	3 Qtrs
CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-15.70K	USD	3 Qtrs
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$29.68K	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`	$15.70K	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$29.68K	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`	$15.70K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	-	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Issuance(Cancellation) of Common Stock 20M	`ConversionOfStockAmountConverted1`	-	USD	3 Qtrs
Issuance(Cancellation) of Common Stock 20M	`ConversionOfStockAmountConverted1`	$20.00K	USD	3 Qtrs
Issuance of Preferred Stock	`ConversionOfStockAmountIssued1`	$2.19K	USD	3 Qtrs
Issuance of Preferred Stock	`ConversionOfStockAmountIssued1`	-	USD	3 Qtrs
Conversion of convertible debentures	`DebtConversionOriginalDebtAmount1`	$198.02K	USD	3 Qtrs
Conversion of convertible debentures	`DebtConversionOriginalDebtAmount1`	$286.56K	USD	3 Qtrs

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