10-K/A Filing

SUMMIT NETWORKS INC. CIK: 1619096 FY 2017

Filing Information

Form Type	10-K/A
Accession Number	`0001091818-17-000224`
Period End Date	20170731
Filing Date	20171116
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	sni-20170731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 41 Income Statement 33 Cash Flow Statement 53 Stockholders Equity 17

Balance Sheet 41 line items

Line Item	Tag	Value	Unit	Period
Common Stock Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock Shares Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Cash	`Cash`	$859.00	USD	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Common Stock Shares Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$859.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	-	USD	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	5.00M	shares	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	5.00M	shares	Point-in-time
Other Assets	`OtherAssets`	$1.00K	USD	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	5.00M	shares	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	5.00M	shares	Point-in-time
Other Assets	`OtherAssets`	$1.00K	USD	Point-in-time
Property & Office Equipment, net	`PropertyPlantAndEquipmentNet`	$14.36K	USD	Point-in-time
Property & Office Equipment, net	`PropertyPlantAndEquipmentNet`	$12.77K	USD	Point-in-time
Deferred Tax Asset	`DeferredTaxAssetsNetCurrent`	$1.48K	USD	Point-in-time
Deferred Tax Asset	`DeferredTaxAssetsNetCurrent`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$13.77K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$17.70K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$458.00	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$11.22K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	-	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$500.00	USD	Point-in-time
Total Liabilities	`Liabilities`	$958.00	USD	Point-in-time
Total Liabilities	`Liabilities`	$11.22K	USD	Point-in-time
Common stock, ($0.001 par value, 75,000,000 shares authorized; 5,000,000 and 5,000,000 shares issued and outstanding as of July 31, 2017 and July 31, 2016	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, ($0.001 par value, 75,000,000 shares authorized; 5,000,000 and 5,000,000 shares issued and outstanding as of July 31, 2017 and July 31, 2016	`CommonStockValue`	$5.00K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$39.00K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$39.00K	USD	Point-in-time
Income (deficit) accumulated during development stage	`RetainedEarningsAccumulatedDeficit`	$-41.45K	USD	Point-in-time
Income (deficit) accumulated during development stage	`RetainedEarningsAccumulatedDeficit`	$-27.26K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	-	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$26.19K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$16.74K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$9.09K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.55K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$17.70K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$13.77K	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$46.54K	USD	Annual
Sales	`SalesRevenueNet`	$223.91K	USD	12 Qtrs
Sales	`SalesRevenueNet`	$28.19K	USD	Annual
Cost of Goods	`CostOfGoodsSold`	$21.27K	USD	Annual
Cost of Goods	`CostOfGoodsSold`	$163.26K	USD	12 Qtrs
Cost of Goods	`CostOfGoodsSold`	$30.30K	USD	Annual
Gross Profit	`GrossProfit`	$60.65K	USD	12 Qtrs
Gross Profit	`GrossProfit`	$6.93K	USD	Annual
Gross Profit	`GrossProfit`	$16.24K	USD	Annual
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$103.58K	USD	12 Qtrs
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$25.68K	USD	Annual
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$21.12K	USD	Annual
Income / (loss) from operations	`OperatingIncomeLoss`	$-14.19K	USD	Annual
Income / (loss) from operations	`OperatingIncomeLoss`	$-42.93K	USD	12 Qtrs
Income / (loss) from operations	`OperatingIncomeLoss`	$-9.45K	USD	Annual
Income / (loss) from operations	`OperatingIncomeLoss`	$5.09K	USD	Point-in-time
Income / (loss) from operations	`OperatingIncomeLoss`	$-22.90K	USD	Annual
Other income / (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Other income / (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	12 Qtrs
Other income / (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-42.93K	USD	12 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-14.19K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.45K	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.48K	USD	12 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-14.19K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-9.45K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-41.45K	USD	12 Qtrs
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.00M	shares	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.00M	shares	Annual

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-14.19K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-9.45K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-41.45K	USD	12 Qtrs
Depreciation Expense	`Depreciation`	$1.59K	USD	Annual
Depreciation Expense	`Depreciation`	$1.60K	USD	Annual
Depreciation Expense	`Depreciation`	$4.98K	USD	12 Qtrs
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.48K	USD	Annual
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.48K	USD	12 Qtrs
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.48K	USD	Annual
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	Annual
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	Annual
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$1.00K	USD	12 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.48K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$12.24K	USD	12 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.76K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	12 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-500.00	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-26.71K	USD	12 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.85K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-859.00	USD	Annual
Acquisition of Property & Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Acquisition of Property & Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.75K	USD	12 Qtrs
Acquisition of Property & Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.75K	USD	12 Qtrs
Advances from related party	`ProceedsFromRelatedPartyDebt`	$458.00	USD	12 Qtrs
Advances from related party	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Advances from related party	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$44.00K	USD	12 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$44.46K	USD	12 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	12 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-859.00	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.85K	USD	Annual
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`	$859.00	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.71K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$859.00	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$8.71K	USD	Point-in-time
Cash paid during year for Interest	`InterestPaid`	-	USD	Annual
Cash paid during year for Interest	`InterestPaid`	-	USD	Annual
Cash paid during year for Interest	`InterestPaid`	-	USD	12 Qtrs
Cash paid during year for Income Taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid during year for Income Taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid during year for Income Taxes	`IncomeTaxesPaid`	-	USD	12 Qtrs

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	-	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$26.19K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$16.74K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$9.09K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$2.55K	USD	Point-in-time
Stock issued for cash on July 23, 2014 @ $0.001 per share, Amount	`StockIssuedDuringPeriodValueNewIssues`	$4.00K	USD	Point-in-time
Stock issued for cash on January 29, 2015 @ $0.04 per share, Amount	`StockIssuedForCashOnJanuary2920150.04PerShareAmount`	$40.00K	USD	Annual
Net loss	`OperatingIncomeLoss`	$-14.19K	USD	Annual
Net loss	`OperatingIncomeLoss`	$-42.93K	USD	12 Qtrs
Net loss	`OperatingIncomeLoss`	$-9.45K	USD	Annual
Net loss	`OperatingIncomeLoss`	$5.09K	USD	Point-in-time
Net loss	`OperatingIncomeLoss`	$-22.90K	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	-	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$26.19K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$16.74K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$9.09K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$2.55K	USD	Point-in-time

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