10-K Filing

IQSTEL INC CIK: 1527702 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001078782-18-001321`
Period End Date	20180630
Filing Date	20181114
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	iqst-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 30 Cash Flow Statement 36 Stockholders Equity 12

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	8.50M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	8.50M	shares	Point-in-time
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 Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$61.26K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$25.36K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$16.13K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.94M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.97M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseCurrent`	$181.54K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseCurrent`	$304.98K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.34M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.14M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentGross`	$319.61K	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	15.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	11.09M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentGross`	$301.76K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	15.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$2.44M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.66M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	11.09M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.64M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.33M	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$26.59K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Loans payable - current portion	`ShortTermBorrowings`	$233.70K	USD	Point-in-time
Loans payable - current portion	`ShortTermBorrowings`	$114.17K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$257.08K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$262.87K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.02M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.85M	USD	Point-in-time
Long-term loans payable - related parties	`DueToRelatedPartiesNoncurrent`	$90.79K	USD	Point-in-time
Long-term loans payable - related parties	`DueToRelatedPartiesNoncurrent`	$90.59K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$1.94M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.11M	USD	Point-in-time
Preferred Stock, Value	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, Value	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$15.00K	USD	Point-in-time
Common Stock, Value	`CommonStockValue`	$11.09K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$737.43K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$987.24K	USD	Point-in-time
Stock subscription receivable	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	-	USD	Point-in-time
Stock subscription receivable	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$8.75K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-200.44K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-492.35K	USD	Point-in-time
Total Stockholder's Equity	`StockholdersEquity`	$501.14K	USD	Point-in-time
Total Stockholder's Equity	`StockholdersEquity`	$548.08K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$3.66M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$2.44M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$9.62M	USD	Annual
Revenues	`Revenues`	$7.32M	USD	Annual
Cost of goods sold	`CostOfRevenue`	$8.75M	USD	Annual
Cost of goods sold	`CostOfRevenue`	$6.30M	USD	Annual
Gross profit	`GrossProfit`	$1.01M	USD	Annual
Gross profit	`GrossProfit`	$870.93K	USD	Annual
General and administration	`GeneralAndAdministrativeExpense`	$697.90K	USD	Annual
General and administration	`GeneralAndAdministrativeExpense`	$788.70K	USD	Annual
Total operating expenses	`OperatingExpenses`	$788.70K	USD	Annual
Total operating expenses	`OperatingExpenses`	$697.90K	USD	Annual
Operating income	`OperatingIncomeLoss`	$317.06K	USD	Annual
Operating income	`OperatingIncomeLoss`	$82.22K	USD	Annual
Other income	`OtherNonoperatingIncome`	$4.00	USD	Annual
Other income	`OtherNonoperatingIncome`	-	USD	Annual
Interest expense	`InvestmentIncomeInterest`	$-77.86K	USD	Annual
Interest expense	`InvestmentIncomeInterest`	$-327.09K	USD	Annual
Other expenses	`OtherNonoperatingExpense`	$21.21K	USD	Annual
Other expenses	`OtherNonoperatingExpense`	$47.05K	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-374.14K	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-99.06K	USD	Annual
Net income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$218.00K	USD	Annual
Net income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-291.92K	USD	Annual
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-291.92K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$218.00K	USD	Annual
Basic and dilutive income (loss) per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	Annual
Basic and dilutive income (loss) per common share	`EarningsPerShareBasicAndDiluted`	$0.02	USD	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	11.91M	shares	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.42M	shares	Annual

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$218.00K	USD	Annual
Net income (loss)	`ProfitLoss`	$-291.92K	USD	Annual
Stock based compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	-	USD	Annual
Stock based compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	$150.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$62.85K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.85K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.03M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.04M	USD	Annual
Other current assets	`IncreaseDecreaseInOtherReceivables`	$217.44K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherReceivables`	$-123.44K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-1.37M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$1.55M	USD	Annual
Other current liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$235.95K	USD	Annual
Other current liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-5.79K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-335.64K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-179.63K	USD	Annual
Proceeds from loans payable	`ProceedsFromOtherDebt`	$242.63K	USD	Annual
Proceeds from loans payable	`ProceedsFromOtherDebt`	$928.89K	USD	Annual
Repayments of loans payable	`RepaymentsOfOtherDebt`	$809.16K	USD	Annual
Repayments of loans payable	`RepaymentsOfOtherDebt`	$117.88K	USD	Annual
Common stock issued	`ProceedsFromIssuanceOfCommonStock`	$180.00K	USD	Annual
Common stock issued	`ProceedsFromIssuanceOfCommonStock`	$100.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$224.76K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$299.73K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$45.13K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-35.91K	USD	Annual
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$61.26K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$25.36K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	`CashAndCashEquivalentsAtCarryingValue`	$16.13K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$61.26K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$25.36K	USD	Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance	`CashAndCashEquivalentsAtCarryingValue`	$16.13K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$327.09K	USD	Annual
Cash paid for interest	`InterestPaid`	$77.86K	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	$15.88K	USD	Annual
Cash paid for taxes	`IncomeTaxesPaidNet`	-	USD	Annual

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$501.14K	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$548.08K	USD	Point-in-time
Equity Balance, Starting	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$230.08K	USD	Point-in-time
Stock Issued During Period, Value, New Issues	`StockIssuedDuringPeriodValueNewIssues`	$180.00K	USD	Annual
Stock Issued During Period, Value, New Issues	`StockIssuedDuringPeriodValueNewIssues`	$100.00K	USD	Annual
Stock Issued During Period, Value, Other	`StockIssuedDuringPeriodValueOther`	$-85.02K	USD	Annual
Stock Issued During Period, Value, Issued for Services	`StockIssuedDuringPeriodValueIssuedForServices`	$150.00K	USD	Annual
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-291.92K	USD	Annual
Net Income (Loss)	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$218.00K	USD	Annual
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$501.14K	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$548.08K	USD	Point-in-time
Equity Balance, Ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$230.08K	USD	Point-in-time

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