10-K Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 FY 2013

Filing Information

Form Type	10-K
Accession Number	`0001354488-14-000018`
Period End Date	20130930
Filing Date	20140103
Fiscal Year	2013
Fiscal Period	FY
XBRL Instance	vnge-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 45 Cash Flow Statement 56 Stockholders Equity 11

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.09M	USD	Point-in-time
Discount on Note Payable Current portion	`DiscountOnNotePayableCurrentPortion`	-	USD	Point-in-time
Discount on Note Payable Current portion	`DiscountOnNotePayableCurrentPortion`	$77.58K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$453.24K	USD	Point-in-time
Discount on Note Payable	`DiscountOnNotePayable`	$441.13K	USD	Point-in-time
Discount on Note Payable	`DiscountOnNotePayable`	$635.75K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$615.63K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$371.76K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$16.05K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$6.13K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.72M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	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
Proved properties	`CapitalizedCostsProvedProperties`	$12.99M	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
Proved properties	`CapitalizedCostsProvedProperties`	$9.29M	USD	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
Unproved properties and properties under development, not being amortized	`CapitalizedCostUnprovedProperties`	$1.43M	USD	Point-in-time
Unproved properties and properties under development, not being amortized	`CapitalizedCostUnprovedProperties`	$61.47K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Furniture and equipment	`FixturesAndEquipmentGross`	$26.95K	USD	Point-in-time
Furniture and equipment	`FixturesAndEquipmentGross`	$24.49K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Less: accumulated depreciation, depletion and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.11M	USD	Point-in-time
Less: accumulated depreciation, depletion and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.59M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$9.63M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	12.74M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	12.74M	shares	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$6.49M	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNet`	$857.41K	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNet`	$538.70K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	12.74M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	12.74M	shares	Point-in-time
Other assets	`OtherAssets`	$15.57K	USD	Point-in-time
Other assets	`OtherAssets`	$10.81K	USD	Point-in-time
Total assets	`Assets`	$8.76M	USD	Point-in-time
Total assets	`Assets`	$14.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$414.87K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$113.31K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$322.19K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$344.71K	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 notes payable, net of discount of $0 and $77,584	`NotesAndLoansPayableCurrent`	-	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`	$1.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$435.51K	USD	Point-in-time
Notes payable, net of discount of $441,132 and $635,748	`NotesPayable`	$7.81M	USD	Point-in-time
Notes payable, net of discount of $441,132 and $635,748	`NotesPayable`	$7.62M	USD	Point-in-time
Participation liability	`AccruedParticipationLiabilitiesDueInNextOperatingCycle`	$1.57M	USD	Point-in-time
Participation liability	`AccruedParticipationLiabilitiesDueInNextOperatingCycle`	$465.55K	USD	Point-in-time
Conversion feature liability	`DerivativeLiabilitiesNoncurrent`	$583.45K	USD	Point-in-time
Conversion feature liability	`DerivativeLiabilitiesNoncurrent`	-	USD	Point-in-time
Warrant liabilities	`DerivativeLiabilities`	$68.75K	USD	Point-in-time
Warrant liabilities	`DerivativeLiabilities`	-	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$177.69K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$24.63K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$96.41K	USD	Point-in-time
Total liabilities	`Liabilities`	$8.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.95M	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`	$-5.65M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$638.65K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-131.40K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$3.27M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$8.76M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$14.22M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Oil and gas sales	`OilAndGasSalesRevenue`	$3.37M	USD	Annual
Oil and gas sales	`OilAndGasSalesRevenue`	$4.64M	USD	Annual
Lease operating expense	`LeaseOperatingExpense`	$714.67K	USD	Annual
Lease operating expense	`LeaseOperatingExpense`	$672.23K	USD	Annual
Production taxes	`ProductionTaxExpense`	$214.13K	USD	Annual
Production taxes	`ProductionTaxExpense`	$155.62K	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.85M	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$844.30K	USD	Annual
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$3.63M	USD	Annual
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	-	USD	Annual
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$8.92K	USD	Annual
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$23.19K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.37M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.56M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$7.81M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$3.25M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$123.86K	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-3.17M	USD	Annual
Other income	`OtherIncome`	$7.39K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$3.06K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.34K	USD	Annual
Interest expense	`InterestExpense`	$1.86M	USD	Annual
Interest expense	`InterestExpense`	$1.17M	USD	Annual
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$1.08M	USD	Annual
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$652.76K	USD	Annual
Change in estimate of participation liability	`ChangeInEstimateOfParticipationLiability`	$653.06K	USD	Annual
Change in estimate of participation liability	`ChangeInEstimateOfParticipationLiability`	$-969.73K	USD	Annual
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-410.64K	USD	Annual
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-233.16K	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-1.15M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-3.40M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.03M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-3.40M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.03M	USD	Annual
Loss per share Basic	`EarningsPerShareBasic`	$-0.27	USD	Annual
Loss per share Basic	`EarningsPerShareBasic`	$-0.09	USD	Annual
Weighted average number of common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	12.74M	shares	Annual
Weighted average number of common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	11.90M	shares	Annual
Loss per share Diluted	`EarningsPerShareDiluted`	$-0.09	USD	Annual
Loss per share Diluted	`EarningsPerShareDiluted`	$-0.27	USD	Annual
Weighted average number of common and potential common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.90M	shares	Annual
Weighted average number of common and potential common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.74M	shares	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$-3.40M	USD	Annual
Net income	`NetIncomeLoss`	$-1.03M	USD	Annual
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-410.64K	USD	Annual
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Change in estimate of participation liability	`ChangeInEstimateOfParticipationLiability`	$653.06K	USD	Annual
Change in estimate of participation liability	`ChangeInEstimateOfParticipationLiability`	$-969.73K	USD	Annual
Impairment of Oil and Gas Properties	`ImpairmentOfOilAndGasProperties`	$3.63M	USD	Annual
Impairment of Oil and Gas Properties	`ImpairmentOfOilAndGasProperties`	-	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.85M	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$844.30K	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$318.71K	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$237.81K	USD	Annual
Asset retirement obligation accretion	`AssetRetirementObligationAccretion`	$81.28K	USD	Annual
Asset retirement obligation accretion	`AssetRetirementObligationAccretion`	$8.92K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$272.20K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$736.45K	USD	Annual
Accretion of participation liability	`IncreaseDecreaseInParticipationLiabilities`	$97.53K	USD	Annual
Accretion of participation liability	`IncreaseDecreaseInParticipationLiabilities`	$-138.32K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	-	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$59.70K	USD	Annual
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$1.08M	USD	Annual
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$652.76K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-358.48K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$243.87K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-5.16K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-14.68K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-284.97K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-54.29K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-22.52K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-129.34K	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$383.08K	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$928.68K	USD	Annual
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.48K	USD	Annual
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.45K	USD	Annual
Capital expenditures on oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$2.36M	USD	Annual
Capital expenditures on oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$6.11M	USD	Annual
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.36M	USD	Annual
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.14M	USD	Annual
Debt issuance costs	`DebtIssuanceCosts`	$-813.78K	USD	Annual
Debt issuance costs	`DebtIssuanceCosts`	-	USD	Annual
Equity offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Equity offering costs	`PaymentsOfStockIssuanceCosts`	$199.85K	USD	Annual
Proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$4.22M	USD	Annual
Proceeds from issuance (repayment) of notes payable	`ProceedsFromNotesPayable`	$-325.00K	USD	Annual
Proceeds from issuance (repayment) of notes payable	`ProceedsFromNotesPayable`	$5.18M	USD	Annual
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-325.00K	USD	Annual
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.39M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.76M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.64M	USD	Annual
Cash and cash equivalents Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.09M	USD	Point-in-time
Cash and cash equivalents Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	USD	Point-in-time
Cash and cash equivalents Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$453.24K	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`	$1.33M	USD	Point-in-time
Cash and cash equivalents End of period	`CashAndCashEquivalentsAtCarryingValue`	$453.24K	USD	Point-in-time

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$638.65K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-131.40K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$3.27M	USD	Point-in-time
Stock-based compensation	`ShareBasedCompensation`	-	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$59.70K	USD	Annual
Issuance of common stock units, Amount	`StockIssuedDuringPeriodValueNewIssues`	$3.60M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.40M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.03M	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$638.65K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-131.40K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$3.27M	USD	Point-in-time

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