10-Q Filing

SUMMIT NETWORKS INC. CIK: 1619096 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001091818-23-000026`
Period End Date	20221231
Filing Date	20230221
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	sntw21623dec10q2022_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 Income Statement 18 Cash Flow Statement 30 Stockholders Equity 11

Balance Sheet 52 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`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
Cash & cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$205.53K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash & cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.83K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Current Asset	`AssetsCurrent`	$8.83K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Current Asset	`AssetsCurrent`	$205.53K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	67.05M	shares	Point-in-time
Total Non-Current Asset	`AssetsNoncurrent`	-	USD	Point-in-time
Total Non-Current Asset	`AssetsNoncurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	62.05M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$8.83K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	67.05M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	62.05M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$205.53K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$176.17K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$191.77K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$16.00K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$22.00K	USD	Point-in-time
Deposit	`Deposits`	$3.29K	USD	Point-in-time
Deposit	`Deposits`	-	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$579.00K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$579.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$796.05K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$771.17K	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	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; 67,049,990 and 62,049,990 shares issued and outstanding as at December 31, 2022 and September 30, 2022.	`CommonStockValue`	$67.05K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized; 67,049,990 and 62,049,990 shares issued and outstanding as at December 31, 2022 and September 30, 2022.	`CommonStockValue`	$62.05K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$393.87K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$588.87K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.22M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-654.13K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-762.34K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-590.52K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-730.34K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$8.83K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$205.53K	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`	$76.20K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$28.18K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-76.20K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-28.18K	USD	1 Quarter
Income tax expenses	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expenses	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-28.18K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-76.20K	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`	67.05M	shares	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	62.05M	shares	1 Quarter
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	67.05M	shares	1 Quarter
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	62.05M	shares	1 Quarter

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-28.18K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-76.20K	USD	1 Quarter
Depreciation of fixed assets	`DepreciationDepletionAndAmortization`	-	USD	1 Quarter
Depreciation of fixed assets	`DepreciationDepletionAndAmortization`	$937.00	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$50.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$15.60K	USD	1 Quarter
Accounts payable - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$6.00K	USD	1 Quarter
Accounts payable - related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$6.00K	USD	1 Quarter
Deposit	`IncreaseDecreaseInDeposits`	$3.29K	USD	1 Quarter
Deposit	`IncreaseDecreaseInDeposits`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-19.27K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.30K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$200.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash generated from financing activity	`NetCashProvidedByUsedInFinancingActivities`	$200.00K	USD	1 Quarter
Net cash generated from financing activity	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net increase/(decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$196.70K	USD	1 Quarter
Net increase/(decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-19.27K	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$80.88K	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$205.53K	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$61.61K	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.83K	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$80.88K	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$205.53K	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$61.61K	USD	Point-in-time
Cash and cash equivalents at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.83K	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 11 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-654.13K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-762.34K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-590.52K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-730.34K	USD	Point-in-time
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$200.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-28.18K	USD	1 Quarter
Net loss	`ProfitLoss`	$-76.20K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-654.13K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-762.34K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-590.52K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-730.34K	USD	Point-in-time

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