10-K Filing

SUMMIT NETWORKS INC. CIK: 1619096 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001213900-20-036967`
Period End Date	20200731
Filing Date	20201113
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	sntw-20200731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 18 Cash Flow Statement 32 Stockholders Equity 11

Balance Sheet 44 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
Cash & Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$553.00	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash & Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$304.80K	USD	Point-in-time
Cash & Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.73K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$5.47K	USD	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Preferred stock shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock shares outstanding	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$310.27K	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$553.00	USD	Point-in-time
TOTAL ASSETS	`Assets`	$310.27K	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
TOTAL ASSETS	`Assets`	$553.00	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	$0.00	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
Common stock shares issued	`CommonStockSharesIssued`	64.05M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	61.05M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	61.05M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$34.25K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	64.05M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$9.53K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$52.64K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$518.61K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$528.13K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$86.89K	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; 64,049,990 and 61,049,990 shares issued and outstanding as of July 31 , 2020, and July 31, 2019	`CommonStockValue`	$61.05K	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 July 31 , 2020, and July 31, 2019	`CommonStockValue`	$64.05K	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`	$-643.78K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-512.26K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-62.76K	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 LIABILITIES & STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$553.00	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$310.27K	USD	Point-in-time

Income Statement 18 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	Annual
Revenue	`Revenues`	-	USD	Annual
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$370.90K	USD	Annual
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$131.53K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-131.53K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-370.90K	USD	Annual
Loss on disposal of subsidiary	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	-	USD	Annual
Loss on disposal of subsidiary	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$-5.09K	USD	Annual
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-375.99K	USD	Annual
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-131.53K	USD	Annual
Provision for Income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for Income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net Loss	`NetIncomeLoss`	$-375.99K	USD	Annual
Net Loss	`NetIncomeLoss`	$-131.53K	USD	Annual
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	Annual
Basic and diluted Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	62.74M	shares	Annual
Basic and diluted Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	61.05M	shares	Annual

Cash Flow Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-375.99K	USD	Annual
Net loss	`NetIncomeLoss`	$-131.53K	USD	Annual
Impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	$11.17K	USD	Annual
Impairment	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	Annual
Receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.56K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$5.47K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-24.73K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$22.88K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-161.72K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-337.38K	USD	Annual
Debt forgiven by related parties	`IncreaseDecreaseInDebtForgivenByRelatedParties`	-	USD	Annual
Debt forgiven by related parties	`IncreaseDecreaseInDebtForgivenByRelatedParties`	$348.77K	USD	Annual
Advance from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-28.56K	USD	Annual
Advance from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$465.96K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$465.96K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-320.20K	USD	Annual
Net increase(decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$304.24K	USD	Annual
Net increase(decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-17.18K	USD	Annual
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$553.00	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$304.80K	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$17.73K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$553.00	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$304.80K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$17.73K	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	Annual
Interest	`InterestPaidNet`	-	USD	Annual
Income Taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income Taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Forgiveness of debt from related parties - contributed to additional paid-in capital	`ForgivenessOfDebtFromRelatedPartiesContributedToAdditionalPaidinCapital`	$348.77K	USD	Annual
Forgiveness of debt from related parties - contributed to additional paid-in capital	`ForgivenessOfDebtFromRelatedPartiesContributedToAdditionalPaidinCapital`	-	USD	Annual

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-62.76K	USD	Point-in-time
Balance	`StockholdersEquity`	$-217.87K	USD	Point-in-time
Balance	`StockholdersEquity`	$-86.34K	USD	Point-in-time
Issuance of common shares, in connection with acquisition	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Disposal of Real Capital Ltd.	`DisposalOfRealCapitalLimited`	$3.64K	USD	Annual
Net loss	`ProfitLoss`	$-375.99K	USD	Annual
Net loss	`ProfitLoss`	$-131.53K	USD	Annual
Debt forgiven by related parties	`DebtForgivenByRelatedParties`	$348.77K	USD	Annual
Balance	`StockholdersEquity`	$-62.76K	USD	Point-in-time
Balance	`StockholdersEquity`	$-217.87K	USD	Point-in-time
Balance	`StockholdersEquity`	$-86.34K	USD	Point-in-time

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