10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001354488-13-000613`
Period End Date	20121231
Filing Date	20130213
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	vnge-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 38 Cash Flow Statement 50

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.09M	USD	Point-in-time
Discount on Note Payable	`DebtInstrumentUnamortizedDiscount`	$713.33K	USD	Point-in-time
Discount on Note Payable	`DebtInstrumentUnamortizedDiscount`	$590.43K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$453.24K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.86M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.02M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$615.63K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$7.77K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$6.13K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.31M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.71M	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Proved properties	`CapitalizedCostsProvedProperties`	$11.07M	USD	Point-in-time
Proved properties	`CapitalizedCostsProvedProperties`	$9.29M	USD	Point-in-time
Unproved properties and properties under development, not being amortized	`CapitalizedCostUnprovedProperties`	$658.66K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Unproved properties and properties under development, not being amortized	`CapitalizedCostUnprovedProperties`	$1.43M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Furniture and equipment	`FixturesAndEquipmentGross`	$24.49K	USD	Point-in-time
Furniture and equipment	`FixturesAndEquipmentGross`	$24.87K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	12.74M	shares	Point-in-time
Less: accumulated depreciation, depletion and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.48M	USD	Point-in-time
Less: accumulated depreciation, depletion and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.11M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	12.74M	shares	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$10.27M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	12.74M	shares	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$9.63M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	12.74M	shares	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNet`	$857.41K	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNet`	$769.57K	USD	Point-in-time
Other assets	`OtherAssets`	$15.12K	USD	Point-in-time
Other assets	`OtherAssets`	$15.57K	USD	Point-in-time
Total assets	`Assets`	$14.22M	USD	Point-in-time
Total assets	`Assets`	$13.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$414.87K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.77K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$344.71K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$372.17K	USD	Point-in-time
Current portion of notes payable, net of discount of $0 and $77,584	`NotesAndLoansPayableCurrent`	-	USD	Point-in-time
Current portion of notes payable, net of discount of $0 and $77,584	`NotesAndLoansPayableCurrent`	$247.42K	USD	Point-in-time
Current portion of conversion feature liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Current portion of conversion feature liability	`DerivativeLiabilitiesCurrent`	$564.00	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$389.94K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.01M	USD	Point-in-time
Notes payable, net of discount of $590,433 and $635,748	`NotesPayable`	$7.66M	USD	Point-in-time
Notes payable, net of discount of $590,433 and $635,748	`NotesPayable`	$7.62M	USD	Point-in-time
Participation liability	`AccruedParticipationLiabilitiesDueInNextOperatingCycle`	$1.57M	USD	Point-in-time
Participation liability	`AccruedParticipationLiabilitiesDueInNextOperatingCycle`	$1.52M	USD	Point-in-time
Conversion feature liability	`DerivativeLiabilitiesNoncurrent`	$189.98K	USD	Point-in-time
Conversion feature liability	`DerivativeLiabilitiesNoncurrent`	$583.45K	USD	Point-in-time
Warrant liabilities	`DerivativeLiabilities`	$19.85K	USD	Point-in-time
Warrant liabilities	`DerivativeLiabilities`	$68.75K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$96.41K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$105.78K	USD	Point-in-time
Total liabilities	`Liabilities`	$9.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.95M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 5,000,000 shares authorized, none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 5,000,000 shares authorized, none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized, 12,741,512 shares issued and outstanding	`CommonStockValue`	$127.00	USD	Point-in-time
Common stock, $0.00001 par value; 50,000,000 shares authorized, 12,741,512 shares issued and outstanding	`CommonStockValue`	$127.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.52M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.04M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.27M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.48M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$14.22M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.37M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Oil and gas sales	`OilAndGasSalesRevenue`	$745.17K	USD	1 Quarter
Oil and gas sales	`OilAndGasSalesRevenue`	$1.32M	USD	1 Quarter
Lease operating expense	`LeaseOperatingExpense`	$99.10K	USD	1 Quarter
Lease operating expense	`LeaseOperatingExpense`	$177.44K	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	$34.34K	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	$60.66K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$369.34K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$121.94K	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$4.47K	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$1.14K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$407.65K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$300.87K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$1.02M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$557.40K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$187.77K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$296.10K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$532.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$526.00	USD	1 Quarter
Interest expense	`InterestExpense`	$528.79K	USD	1 Quarter
Interest expense	`InterestExpense`	$245.54K	USD	1 Quarter
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$442.94K	USD	1 Quarter
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$74.62K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-85.33K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-170.39K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$17.38K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$210.77K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$210.77K	USD	1 Quarter
Net income	`NetIncomeLoss`	$17.38K	USD	1 Quarter
Earnings per share - Basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Earnings per share - Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Earnings per share - Diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Earnings per share - Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.41M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	12.74M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.74M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.41M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$210.77K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$17.38K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$369.34K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$121.94K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$87.84K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$52.82K	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$4.47K	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$1.14K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$202.78K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$122.90K	USD	1 Quarter
Accretion of participation liability	`IncreaseDecreaseInParticipationLiabilities`	$27.38K	USD	1 Quarter
Accretion of participation liability	`IncreaseDecreaseInParticipationLiabilities`	$38.21K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$15.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	-	USD	1 Quarter
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$442.94K	USD	1 Quarter
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$74.62K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-102.79K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-402.12K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.20K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-26.95K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$47.55K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-397.10K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-73.21K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-63.09K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$208.42K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-472.90K	USD	1 Quarter
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$378.00	USD	1 Quarter
Capital expenditures on oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$1.01M	USD	1 Quarter
Capital expenditures on oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$824.96K	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.01M	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-824.96K	USD	1 Quarter
Equity offering costs	`PaymentsOfStockIssuanceCosts`	$199.85K	USD	1 Quarter
Equity offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$4.22M	USD	1 Quarter
Proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Repayment of note payable	`RepaymentsOfNotesPayable`	-	USD	1 Quarter
Repayment of note payable	`RepaymentsOfNotesPayable`	$325.00K	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-325.00K	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.02M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.80M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.41M	USD	1 Quarter
Cash and cash equivalents Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.09M	USD	Point-in-time
Cash and cash equivalents Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$453.24K	USD	Point-in-time
Cash and cash equivalents Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.29M	USD	Point-in-time
Cash and cash equivalents Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.86M	USD	Point-in-time
Cash and cash equivalents End of period	`CashAndCashEquivalentsAtCarryingValue`	$3.09M	USD	Point-in-time
Cash and cash equivalents End of period	`CashAndCashEquivalentsAtCarryingValue`	$453.24K	USD	Point-in-time
Cash and cash equivalents End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.29M	USD	Point-in-time
Cash and cash equivalents End of period	`CashAndCashEquivalentsAtCarryingValue`	$3.86M	USD	Point-in-time

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