10-Q Filing

SUMMIT NETWORKS INC. CIK: 1619096 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001091818-22-000012`
Period End Date	20211231
Filing Date	20220211
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	sntw10q1221_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 18 Cash Flow Statement 24 Stockholders Equity 10

Balance Sheet 51 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash & cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$61.61K	USD	Point-in-time
Cash & cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$80.88K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash & cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$292.60K	USD	Point-in-time
Cash & cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$192.37K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$80.88K	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
Total Current Assets	`AssetsCurrent`	$61.61K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Fixed assets, net	`AssetsNoncurrent`	$2.38K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Fixed assets, net	`AssetsNoncurrent`	$3.32K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$84.20K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$64.00K	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
Common stock, shares issued	`CommonStockSharesIssued`	62.05M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	500,000.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	500,000.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	62.05M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	62.05M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	62.05M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$193.33K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$143.33K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$22.00K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$16.00K	USD	Point-in-time
Due to related party	`NotesPayableCurrent`	$579.00K	USD	Point-in-time
Due to related party	`NotesPayableCurrent`	$579.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$738.33K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$794.33K	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized; 0 share issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 10,000,000 shares authorized; 0 share issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized; 62,049,990 issued and outstanding as of December 31 and September 30, 2021, respectively.	`CommonStockValue`	$62.05K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized; 62,049,990 issued and outstanding as of December 31 and September 30, 2021, respectively.	`CommonStockValue`	$62.05K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$393.87K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$393.87K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.11M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-730.34K	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 Stockholders' Deficit	`StockholdersEquity`	$-330.29K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$64.00K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$84.20K	USD	Point-in-time

Income Statement 18 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$100.23K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$76.20K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-100.23K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-76.20K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-76.20K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-100.23K	USD	1 Quarter
Basic Net loss per share	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic Net loss per share	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted Net loss per share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted Net loss per share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	62.05M	shares	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	61.05M	shares	1 Quarter
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	61.05M	shares	1 Quarter
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	62.05M	shares	1 Quarter

Cash Flow Statement 24 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-76.20K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-100.23K	USD	1 Quarter
Depreciation of fixed assets	`OtherDepreciationAndAmortization`	-	USD	1 Quarter
Depreciation of fixed assets	`OtherDepreciationAndAmortization`	$937.00	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$50.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	-	USD	1 Quarter
Accounts payable - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	1 Quarter
Accounts payable - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$6.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-19.27K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-100.23K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-19.27K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-100.23K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$61.61K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$80.88K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$292.60K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$192.37K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$61.61K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$80.88K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$292.60K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$192.37K	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	1 Quarter
Interest	`InterestPaidNet`	-	USD	1 Quarter
Income Taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income Taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-730.34K	USD	Point-in-time
Balance	`StockholdersEquity`	$-654.13K	USD	Point-in-time
Balance	`StockholdersEquity`	$-230.06K	USD	Point-in-time
Balance	`StockholdersEquity`	$-330.29K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-76.20K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-100.23K	USD	1 Quarter
Balance	`StockholdersEquity`	$-730.34K	USD	Point-in-time
Balance	`StockholdersEquity`	$-654.13K	USD	Point-in-time
Balance	`StockholdersEquity`	$-230.06K	USD	Point-in-time
Balance	`StockholdersEquity`	$-330.29K	USD	Point-in-time

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