10-K Filing

SUMMIT NETWORKS INC. CIK: 1619096 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001091818-21-000152`
Period End Date	20210930
Filing Date	20211229
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	sntw10k0921_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 27 Cash Flow Statement 56 Stockholders Equity 12

Balance Sheet 56 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 par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash & cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$80.88K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash & cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$553.00	USD	Point-in-time
Cash & cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$304.80K	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash & cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$292.60K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	64.05M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.47K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	62.05M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.47K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	62.05M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$80.88K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	62.05M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$310.27K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	64.05M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$298.07K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	62.05M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$3.32K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$310.27K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$298.07K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$84.20K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$9.53K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$143.33K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$9.53K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$16.00K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Due to related parties	`DueToOtherRelatedPartiesClassifiedCurrent`	$518.61K	USD	Point-in-time
Due to related parties	`DueToOtherRelatedPartiesClassifiedCurrent`	$518.61K	USD	Point-in-time
Due to related parties	`DueToOtherRelatedPartiesClassifiedCurrent`	$579.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$528.13K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$528.13K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$738.33K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized; 62,049,990 and 64,049,990 shares issued and outstanding as of September 30,2021, September 30,2020, and July 31,2020, respectively.	`CommonStockValue`	$64.05K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized; 62,049,990 and 64,049,990 shares issued and outstanding as of September 30,2021, September 30,2020, and July 31,2020, respectively.	`CommonStockValue`	$62.05K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized; 62,049,990 and 64,049,990 shares issued and outstanding as of September 30,2021, September 30,2020, and July 31,2020, respectively.	`CommonStockValue`	$64.05K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$361.87K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$361.87K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$393.87K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-655.98K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-643.78K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-217.87K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-86.34K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-654.13K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-230.06K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$310.27K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$298.07K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$84.20K	USD	Point-in-time

Income Statement 27 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	Annual
Revenue	`Revenues`	-	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$131.53K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$572.68K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$12.19K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-131.53K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-12.19K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-572.68K	USD	Annual
Debt forgiveness by related parties	`DebtForgivenessByRelatedParties`	-	USD	1 Quarter
Debt forgiveness by related parties	`DebtForgivenessByRelatedParties`	-	USD	Annual
Debt forgiveness by related parties	`DebtForgivenessByRelatedParties`	$118.61K	USD	Annual
Net Loss	`NetIncomeLoss`	$-12.19K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-454.07K	USD	Annual
Net Loss	`NetIncomeLoss`	$-131.53K	USD	Annual
Basic Net loss per share	`EarningsPerShareBasic`	$-0.01	USD	Annual
Basic Net loss per share	`EarningsPerShareBasic`	-	USD	Annual
Basic Net loss per share	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted Net loss per share	`EarningsPerShareDiluted`	$-0.01	USD	Annual
Diluted Net loss per share	`EarningsPerShareDiluted`	-	USD	Annual
Diluted Net loss per share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	62.74M	shares	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	61.05M	shares	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	61.91M	shares	Annual
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	62.74M	shares	Annual
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	61.05M	shares	1 Quarter
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	61.91M	shares	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-12.19K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-454.07K	USD	Annual
Net loss	`NetIncomeLoss`	$-131.53K	USD	Annual
Debt forgiveness by related parties	`DebtForgivenessByRelatedParties`	-	USD	1 Quarter
Debt forgiveness by related parties	`DebtForgivenessByRelatedParties`	-	USD	Annual
Debt forgiveness by related parties	`DebtForgivenessByRelatedParties`	$118.61K	USD	Annual
Depreciation of fixed assets	`Depreciation`	-	USD	Annual
Depreciation of fixed assets	`Depreciation`	$2.21K	USD	Annual
Depreciation of fixed assets	`Depreciation`	-	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	-	USD	Annual
Share-based compensation expense	`ShareBasedCompensation`	-	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$30.00K	USD	Annual
Receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$5.47K	USD	Annual
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-5.47K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	-	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$133.81K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-24.73K	USD	Annual
Accounts payable - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$16.00K	USD	Annual
Accounts payable - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	Annual
Accounts payable - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-12.19K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-385.19K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-161.72K	USD	Annual
Acquisition of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Acquisition of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Acquisition of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.54K	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.54K	USD	Annual
Advance from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$179.00K	USD	Annual
Advance from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$465.96K	USD	Annual
Advance from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$465.96K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$179.00K	USD	Annual
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$304.24K	USD	Annual
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-12.19K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-211.72K	USD	Annual
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$80.88K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$553.00	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$304.80K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$292.60K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$80.88K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$553.00	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$304.80K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$292.60K	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	Annual
Interest	`InterestPaidNet`	-	USD	Annual
Interest	`InterestPaidNet`	-	USD	1 Quarter
Income Taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income Taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income Taxes	`IncomeTaxesPaidNet`	-	USD	Annual

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-217.87K	USD	Point-in-time
Balance	`StockholdersEquity`	$-86.34K	USD	Point-in-time
Balance	`StockholdersEquity`	$-654.13K	USD	Point-in-time
Balance	`StockholdersEquity`	$-230.06K	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$30.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-12.19K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-454.07K	USD	Annual
Net loss	`NetIncomeLoss`	$-131.53K	USD	Annual
Balance	`StockholdersEquity`	$-217.87K	USD	Point-in-time
Balance	`StockholdersEquity`	$-86.34K	USD	Point-in-time
Balance	`StockholdersEquity`	$-654.13K	USD	Point-in-time
Balance	`StockholdersEquity`	$-230.06K	USD	Point-in-time

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