10-Q Filing

SUMMIT NETWORKS INC. CIK: 1619096 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001213900-20-042766`
Period End Date	20201031
Filing Date	20201215
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	sntw-20201031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 18 Cash Flow Statement 26 Stockholders Equity 10

Balance Sheet 46 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
Cash & cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$304.80K	USD	Point-in-time
Cash & cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$241.70K	USD	Point-in-time
Cash & cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash & cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$553.00	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.47K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.22K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	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
Total Current Assets	`AssetsCurrent`	$245.92K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$310.27K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$310.27K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$245.92K	USD	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`	64.05M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	64.05M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	64.05M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$17.03K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$9.53K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$518.61K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$518.61K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$535.64K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$528.13K	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 shares issued and outstanding as of October 31, 2020, and July 31, 2020	`CommonStockValue`	$64.05K	USD	Point-in-time
Common stock, $0.001 par value, 500,000,000 shares authorized; 64,049,990 shares issued and outstanding as of October 31, 2020, and July 31, 2020	`CommonStockValue`	$64.05K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$361.87K	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`	$-715.64K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-86.34K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-217.87K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-113.61K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-289.72K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$310.27K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$245.92K	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`	$27.27K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$71.85K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-27.27K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-71.85K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-71.85K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-27.27K	USD	1 Quarter
Basic Net loss per share (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic Net loss per share (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted Net loss per share (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted Net loss per share (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	64.05M	shares	1 Quarter
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	61.05M	shares	1 Quarter
Diluted weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	64.05M	shares	1 Quarter
Diluted weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	61.05M	shares	1 Quarter

Cash Flow Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-71.85K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-27.27K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-1.25K	USD	1 Quarter
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.50K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$11.33K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-63.10K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-15.94K	USD	1 Quarter
Advance from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$15.38K	USD	1 Quarter
Advance from related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.38K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-63.10K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-553.00	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$304.80K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$241.70K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$553.00	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$304.80K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$241.70K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$553.00	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`	$-86.34K	USD	Point-in-time
Balance	`StockholdersEquity`	$-217.87K	USD	Point-in-time
Balance	`StockholdersEquity`	$-113.61K	USD	Point-in-time
Balance	`StockholdersEquity`	$-289.72K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-71.85K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-27.27K	USD	1 Quarter
Balance	`StockholdersEquity`	$-86.34K	USD	Point-in-time
Balance	`StockholdersEquity`	$-217.87K	USD	Point-in-time
Balance	`StockholdersEquity`	$-113.61K	USD	Point-in-time
Balance	`StockholdersEquity`	$-289.72K	USD	Point-in-time

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