10-Q Filing

SUMMIT NETWORKS INC. CIK: 1619096 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001213900-20-014959`
Period End Date	20200430
Filing Date	20200615
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	sntw-20200430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 44 Cash Flow Statement 30 Stockholders Equity 28

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Cash & Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash & Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.73K	USD	Point-in-time
Cash & Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$553.00	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$2.05K	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
Prepaid Expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.05K	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
Total Current Assets	`AssetsCurrent`	$553.00	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.05K	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockValueOutstanding`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$553.00	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockValueOutstanding`	-	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
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$645.00	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
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$34.25K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	61.05M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	64.05M	shares	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$168.08K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$52.64K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	61.05M	shares	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$168.73K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$86.89K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	64.05M	shares	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; 64,049,990 and 61,049,990 shares issued and outstanding as of April 30 , 2020, and July 31, 2019	`CommonStockValue`	$64.05K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized; 64,049,990 and 61,049,990 shares issued and outstanding as of April 30 , 2020, and July 31, 2019	`CommonStockValue`	$61.05K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$364.87K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$361.87K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-512.26K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-592.59K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-300.26K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-86.34K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-342.76K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-12.93K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-86.34K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-166.68K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-123.66K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-113.61K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-123.66K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-62.76K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$553.00	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$2.05K	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	3 Qtrs
Revenue	`Revenues`	-	USD	3 Qtrs
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$43.02K	USD	1 Quarter
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$80.34K	USD	3 Qtrs
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$17.49K	USD	1 Quarter
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$297.49K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-43.02K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-80.34K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-297.49K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-17.49K	USD	1 Quarter
Loss on disposal of subsidiary	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-5.09K	USD	1 Quarter
Loss on disposal of subsidiary	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	-	USD	1 Quarter
Loss on disposal of subsidiary	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-5.09K	USD	3 Qtrs
Loss on disposal of subsidiary	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	-	USD	3 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-22.58K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-43.02K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-80.34K	USD	3 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-302.58K	USD	3 Qtrs
Provision for Income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for Income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-43.02K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-302.58K	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-22.58K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-80.34K	USD	3 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	-	USD	3 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	-	USD	3 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	-	USD	3 Qtrs
Diluted earnings per share	`EarningsPerShareDiluted`	-	USD	3 Qtrs
Diluted earnings per share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	61.05M	shares	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	62.31M	shares	3 Qtrs
Weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	64.05M	shares	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	61.05M	shares	3 Qtrs
Diluted Weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	61.05M	shares	3 Qtrs
Diluted Weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	61.05M	shares	1 Quarter
Diluted Weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	62.31M	shares	3 Qtrs
Diluted Weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	64.05M	shares	1 Quarter

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-43.02K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-302.58K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-22.58K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-80.34K	USD	3 Qtrs
Impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	$11.17K	USD	3 Qtrs
Impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	3 Qtrs
Receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.56K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$2.05K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-33.61K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.51K	USD	3 Qtrs
Net cash (used in) provided operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-294.37K	USD	3 Qtrs
Net cash (used in) provided operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-115.99K	USD	3 Qtrs
Advance from related party	`ProceedsFromRelatedPartyDebt`	$276.64K	USD	3 Qtrs
Advance from related party	`ProceedsFromRelatedPartyDebt`	$115.44K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$276.64K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$115.44K	USD	3 Qtrs
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-553.00	USD	3 Qtrs
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-17.73K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.73K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$553.00	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.73K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$553.00	USD	Point-in-time
Cash paid during year for : Interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid during year for : Interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid during year for : Income Taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Cash paid during year for : Income Taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Forgiveness of debt from related parties - contributed to additional paid-in capital	`ForgivenessOfDebtFromRelatedPartiesContributedToAdditionalPaidinCapital`	$348.77K	USD	3 Qtrs

Stockholders Equity 28 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-300.26K	USD	Point-in-time
Balance	`StockholdersEquity`	$-86.34K	USD	Point-in-time
Balance	`StockholdersEquity`	$-342.76K	USD	Point-in-time
Balance	`StockholdersEquity`	$-12.93K	USD	Point-in-time
Balance	`StockholdersEquity`	$-86.34K	USD	Point-in-time
Balance	`StockholdersEquity`	$-166.68K	USD	Point-in-time
Balance	`StockholdersEquity`	$-123.66K	USD	Point-in-time
Balance	`StockholdersEquity`	$-113.61K	USD	Point-in-time
Balance	`StockholdersEquity`	$-123.66K	USD	Point-in-time
Balance	`StockholdersEquity`	$-62.76K	USD	Point-in-time
Disposal of Real Capital Limited	`DisposalOfRealCapitalLimited`	$3.64K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-237.50K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-43.02K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-22.58K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-10.05K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-27.27K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-42.50K	USD	1 Quarter
Debt forgiven	`DebtForgivenByRelatedParties`	$348.77K	USD	1 Quarter
Balance	`StockholdersEquity`	$-300.26K	USD	Point-in-time
Balance	`StockholdersEquity`	$-86.34K	USD	Point-in-time
Balance	`StockholdersEquity`	$-342.76K	USD	Point-in-time
Balance	`StockholdersEquity`	$-12.93K	USD	Point-in-time
Balance	`StockholdersEquity`	$-86.34K	USD	Point-in-time
Balance	`StockholdersEquity`	$-166.68K	USD	Point-in-time
Balance	`StockholdersEquity`	$-123.66K	USD	Point-in-time
Balance	`StockholdersEquity`	$-113.61K	USD	Point-in-time
Balance	`StockholdersEquity`	$-123.66K	USD	Point-in-time
Balance	`StockholdersEquity`	$-62.76K	USD	Point-in-time

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