10-K Filing

SUMMIT NETWORKS INC. CIK: 1619096 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001091818-23-000203`
Period End Date	20230930
Filing Date	20231222
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	sntw20230930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 26 Cash Flow Statement 30 Stockholders Equity 9

Balance Sheet 53 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
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`	$149.61K	USD	Point-in-time
Cash & cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.83K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	-	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$12.54K	USD	Point-in-time
Prepayments	`Prepayments`	$2.22K	USD	Point-in-time
Prepayments	`Prepayments`	-	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$164.38K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.83K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	67.14M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	62.05M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	67.14M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	62.05M	shares	Point-in-time
Total Non-Current Asset	`AssetsNoncurrent`	-	USD	Point-in-time
Total Non-Current Asset	`AssetsNoncurrent`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$8.83K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$164.38K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$123.85K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$176.17K	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedParties`	-	USD	Point-in-time
Accounts payable - related parties	`AccountsPayableRelatedParties`	$16.00K	USD	Point-in-time
Due to related parties	`DueToRelatedParties`	$579.00K	USD	Point-in-time
Due to related parties	`DueToRelatedParties`	$579.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$702.85K	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; 67,139,990 and 62,049,990 issued and outstanding as of September 30,2023 and 2022, respectively.	`CommonStockValue`	$67.14K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized; 67,139,990 and 62,049,990 issued and outstanding as of September 30,2023 and 2022, respectively.	`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`	$-1.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.19M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-762.34K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-654.13K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-538.47K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$8.83K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$164.38K	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	Annual
Revenue	`Revenues`	-	USD	Annual
Rental income	`RentalIncomeNonoperating`	$1.25K	USD	Annual
Rental income	`RentalIncomeNonoperating`	-	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$1.90K	USD	Annual
Interest income	`InterestIncomeExpenseNet`	-	USD	Annual
Miscellaneous income	`OtherNonoperatingIncome`	$3.32K	USD	Annual
Miscellaneous income	`OtherNonoperatingIncome`	-	USD	Annual
Gain on debt forgiveness	`GainOnDebtForgiveness`	$182.67K	USD	Annual
Gain on debt forgiveness	`GainOnDebtForgiveness`	-	USD	Annual
Total Other income:	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Total Other income:	`OtherNonoperatingIncomeExpense`	$189.14K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$165.36K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$108.20K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-165.36K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-108.20K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$23.78K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-108.20K	USD	Annual
Basic Net Income (loss) per share	`EarningsPerShareBasic`	-	USD	Annual
Basic Net Income (loss) per share	`EarningsPerShareBasic`	-	USD	Annual
Diluted Net Income (loss) per share	`EarningsPerShareDiluted`	-	USD	Annual
Diluted Net Income (loss) per share	`EarningsPerShareDiluted`	-	USD	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	67.14M	shares	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	62.05M	shares	Annual
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	67.14M	shares	Annual
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	62.05M	shares	Annual

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`NetIncomeLoss`	$23.78K	USD	Annual
Net income/(loss)	`NetIncomeLoss`	$-108.20K	USD	Annual
Depreciation of fixed assets	`DepreciationDepletionAndAmortization`	$3.32K	USD	Annual
Depreciation of fixed assets	`DepreciationDepletionAndAmortization`	-	USD	Annual
Gain on debt forgiveness	`GainOnDebtForgiveness`	$182.67K	USD	Annual
Gain on debt forgiveness	`GainOnDebtForgiveness`	-	USD	Annual
Deposits	`IncreaseDecreaseInDepositOtherAssets`	$12.54K	USD	Annual
Deposits	`IncreaseDecreaseInDepositOtherAssets`	-	USD	Annual
Prepayments	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
Prepayments	`IncreaseDecreaseInPrepaidExpense`	$2.22K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$114.35K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$32.83K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-59.30K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-72.05K	USD	Annual
Proceed from share issuance	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceed from share issuance	`ProceedsFromIssuanceOfCommonStock`	$200.09K	USD	Annual
Net cash generated from financing activity	`NetCashProvidedByUsedInFinancingActivities`	$200.09K	USD	Annual
Net cash generated from financing activity	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net increase/(decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-72.05K	USD	Annual
Net increase/(decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$140.78K	USD	Annual
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$80.88K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.83K	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$149.61K	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$80.88K	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.83K	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$149.61K	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	Annual
Interest	`InterestPaidNet`	-	USD	Annual
Income Taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income Taxes	`IncomeTaxesPaidNet`	-	USD	Annual

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-762.34K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-654.13K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-538.47K	USD	Point-in-time
Issuance of new shares	`StockIssuedDuringPeriodValueNewIssues`	$200.09K	USD	Annual
Net income	`ProfitLoss`	$-108.20K	USD	Annual
Net income	`ProfitLoss`	$23.78K	USD	Annual
Ending balance, value	`StockholdersEquity`	$-762.34K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-654.13K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-538.47K	USD	Point-in-time

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