10-K/A Filing

SUMMIT NETWORKS INC. CIK: 1619096 FY 2018

Filing Information

Form Type	10-K/A
Accession Number	`0001091818-18-000212`
Period End Date	20180731
Filing Date	20181114
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	sni-20180731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 30 Cash Flow Statement 61 Stockholders Equity 20

Balance Sheet 46 line items

Line Item	Tag	Value	Unit	Period
Common Stock Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$859.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$17.73K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Common Stock Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Receivable at escrow account	`EscrowDeposit`	-	USD	Point-in-time
Common Stock Shares Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common Stock Shares Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Receivable at escrow account	`EscrowDeposit`	$4.56K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$22.29K	USD	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	6.10M	shares	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	5.00M	shares	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	5.00M	shares	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	6.10M	shares	Point-in-time
Other Assets	`OtherAssets`	$1.00K	USD	Point-in-time
Other Assets	`OtherAssets`	-	USD	Point-in-time
Property & Office Equipment, net	`PropertyPlantAndEquipmentNet`	$11.17K	USD	Point-in-time
Property & Office Equipment, net	`PropertyPlantAndEquipmentNet`	$12.77K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$11.17K	USD	Point-in-time
Total Non-current Assets	`AssetsNoncurrent`	$13.77K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$13.77K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$34.46K	USD	Point-in-time
Amount due to related party	`DueToRelatedPartiesCurrent`	$11.22K	USD	Point-in-time
Amount due to related party	`DueToRelatedPartiesCurrent`	$21.19K	USD	Point-in-time
Amount due to shareholders	`DueToOfficersOrStockholdersCurrent`	$36.85K	USD	Point-in-time
Amount due to unrelated party	`AmountDueToUnrelatedParty`	-	USD	Point-in-time
Amount due to unrelated party	`AmountDueToUnrelatedParty`	$23.17K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	-	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$15.01K	USD	Point-in-time
Total Liabilities	`Liabilities`	$11.22K	USD	Point-in-time
Total Liabilities	`Liabilities`	$96.22K	USD	Point-in-time
Common stock, $0.001 par value, 75,000,000 shares authorized; 6,104,999 and 5,000,000 shares issued and outstanding as of July 31, 2018 and July 31, 2017	`CommonStockValue`	$6.11K	USD	Point-in-time
Common stock, $0.001 par value, 75,000,000 shares authorized; 6,104,999 and 5,000,000 shares issued and outstanding as of July 31, 2018 and July 31, 2017	`CommonStockValue`	$5.00K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$67.40K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$39.00K	USD	Point-in-time
Accumulated losses during development stage	`RetainedEarningsAccumulatedDeficit`	$-41.45K	USD	Point-in-time
Accumulated losses during development stage	`RetainedEarningsAccumulatedDeficit`	$-136.27K	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 Stockholders' Equity	`StockholdersEquity`	$-62.76K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$16.74K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$26.19K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$13.77K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$34.46K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$223.91K	USD	16 Qtrs
Sales	`Revenues`	$28.19K	USD	Annual
Sales	`Revenues`	-	USD	Annual
Cost of sales	`CostOfRevenue`	-	USD	Annual
Cost of sales	`CostOfRevenue`	$21.27K	USD	Annual
Cost of sales	`CostOfRevenue`	$163.26K	USD	16 Qtrs
Gross Profit	`GrossProfit`	-	USD	Annual
Gross Profit	`GrossProfit`	$6.93K	USD	Annual
Gross Profit	`GrossProfit`	$60.65K	USD	16 Qtrs
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$198.40K	USD	16 Qtrs
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$21.12K	USD	Annual
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$94.82K	USD	Annual
Income / (loss) from operations	`OperatingIncomeLoss`	$-94.82K	USD	Annual
Income / (loss) from operations	`OperatingIncomeLoss`	$-14.19K	USD	Annual
Other income/ (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	16 Qtrs
Other income/ (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Other income/ (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-94.82K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-14.19K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-137.74K	USD	16 Qtrs
Income taxes benefit	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income taxes benefit	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income taxes benefit	`IncomeTaxExpenseBenefit`	$-1.48K	USD	16 Qtrs
Net Income (Loss)	`ProfitLoss`	$-94.82K	USD	Annual
Net Income (Loss)	`ProfitLoss`	$-136.27K	USD	16 Qtrs
Net Income (Loss)	`ProfitLoss`	$-14.19K	USD	Annual
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	$-1.77	USD	Annual
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.36M	shares	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.00M	shares	Annual

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-136.27K	USD	16 Qtrs
Net income (loss)	`NetIncomeLoss`	$-22.90K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-14.19K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-9.45K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-94.82K	USD	Annual
Depreciation Expense	`Depreciation`	$1.60K	USD	Annual
Depreciation Expense	`Depreciation`	$6.58K	USD	16 Qtrs
Depreciation Expense	`Depreciation`	$1.60K	USD	Annual
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.48K	USD	16 Qtrs
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.48K	USD	Annual
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Receivable - Escrow account	`EscrowDepositsRelatedToPropertySales`	$-4.56K	USD	16 Qtrs
Receivable - Escrow account	`EscrowDepositsRelatedToPropertySales`	$-4.56K	USD	Annual
Receivable - Escrow account	`EscrowDepositsRelatedToPropertySales`	-	USD	Annual
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-1.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	16 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.76K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$12.24K	USD	16 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$15.01K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-500.00	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$15.01K	USD	16 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-81.77K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-859.00	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-108.47K	USD	16 Qtrs
Acquisition of Property & Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Acquisition of Property & Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Acquisition of Property & Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.75K	USD	16 Qtrs
Investment in subsidiary	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$3.64K	USD	Annual
Investment in subsidiary	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	-	USD	Annual
Investment in subsidiary	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$3.64K	USD	16 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.64K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.39K	USD	16 Qtrs
Advances from related party	`ProceedsFromRelatedPartyDebt`	$69.99K	USD	Annual
Advances from related party	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Advances from related party	`ProceedsFromRelatedPartyDebt`	$70.45K	USD	16 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$33.15K	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$77.15K	USD	16 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$147.60K	USD	16 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$103.14K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-859.00	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$17.73K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$17.73K	USD	16 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$859.00	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.73K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$859.00	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$17.73K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	Annual
Interest paid	`InterestPaid`	-	USD	16 Qtrs
Interest paid	`InterestPaid`	-	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	16 Qtrs
Income taxes	`IncomeTaxesPaid`	-	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$9.09K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$2.55K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-62.76K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$16.74K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$26.19K	USD	Point-in-time
Stock issued for cash on January 29, 2015 @ $0.04 per share, Amount	`StockIssuedDuringPeriodValueNewIssues`	$40.00K	USD	Annual
Stock issued for cash on Nov 28, 2017 @ $0.03 per share, Amount	`StockIssuedOnNov2820170.001PerShareAmount`	$7.50K	USD	Annual
Stock issued for cash on Mar 15, 2018 @ $0.03 per share, Amount	`StockIssuedOnMarch1520180.001PerShareAmount`	$12.00K	USD	Annual
Stock issued for cash on July 24, 2018 @ $0.03 per share, Amount	`StockIssuedForCashOnJuly2420180.03PerShareAmount`	$13.65K	USD	Annual
Loss on acquisition of Real Capital Limited	`StockIssuedDuringPeriodValueAcquisitions`	$-3.64K	USD	Annual
Net loss	`NetIncomeLoss`	$-136.27K	USD	16 Qtrs
Net loss	`NetIncomeLoss`	$-22.90K	USD	Annual
Net loss	`NetIncomeLoss`	$-14.19K	USD	Annual
Net loss	`NetIncomeLoss`	$-9.45K	USD	Annual
Net loss	`NetIncomeLoss`	$-94.82K	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$9.09K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$2.55K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-62.76K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$16.74K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$26.19K	USD	Point-in-time

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