10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001354488-14-000718`
Period End Date	20131231
Filing Date	20140213
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	vnge-20131231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 42 Cash Flow Statement 46

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$700.34K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.29M	USD	Point-in-time
Discount on Note Payable	`DiscountOnNotePayable`	$386.56K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$371.76K	USD	Point-in-time
Discount on Note Payable	`DiscountOnNotePayable`	$441.13K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$344.47K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$16.05K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$42.08K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.72M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.09M	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
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Proved properties	`CapitalizedCostsProvedProperties`	$12.99M	USD	Point-in-time
Proved properties	`CapitalizedCostsProvedProperties`	$13.71M	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Unproved properties and properties under development, not being amortized	`CapitalizedCostUnprovedProperties`	$61.47K	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Unproved properties and properties under development, not being amortized	`CapitalizedCostUnprovedProperties`	$72.79K	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Furniture and equipment	`FixturesAndEquipmentGross`	$26.95K	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`	-	USD	Point-in-time
Less: accumulated depreciation, depletion and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$7.03M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	50.00M	shares	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`	$6.49M	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`	$6.75M	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
Debt issuance costs	`DeferredFinanceCostsNet`	$538.70K	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNet`	$461.74K	USD	Point-in-time
Other assets	`OtherAssets`	$10.81K	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`	$8.31M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$113.31K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$321.83K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$322.19K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$323.13K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$644.96K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$435.51K	USD	Point-in-time
Notes payable, net of discount of $386,555 and $441,132	`NotesPayable`	$7.81M	USD	Point-in-time
Notes payable, net of discount of $386,555 and $441,132	`NotesPayable`	$7.87M	USD	Point-in-time
Participation liability	`ParticipationLiability`	$433.41K	USD	Point-in-time
Participation liability	`ParticipationLiability`	$465.55K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$174.23K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$177.69K	USD	Point-in-time
Total liabilities	`Liabilities`	$9.12M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.89M	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`	$-6.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.65M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-131.40K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-808.56K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.76M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.31M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Oil and gas sales	`OilAndGasSalesRevenue`	$731.27K	USD	1 Quarter
Oil and gas sales	`OilAndGasSalesRevenue`	$1.32M	USD	1 Quarter
Lease operating expense	`LeaseOperatingExpense`	$205.40K	USD	1 Quarter
Lease operating expense	`LeaseOperatingExpense`	$177.44K	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	$33.72K	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`	$444.73K	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$15.72K	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$4.47K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$240.18K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$409.80K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$1.02M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$939.74K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-208.48K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$293.95K	USD	1 Quarter
Other income	`OtherIncome`	$431.00	USD	1 Quarter
Other income	`OtherIncome`	$2.15K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$203.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$526.00	USD	1 Quarter
Interest expense	`InterestExpense`	$448.50K	USD	1 Quarter
Interest expense	`InterestExpense`	$528.79K	USD	1 Quarter
Furniture and equipment write-down	`FurnitureAndEquipmentWritedown`	-	USD	1 Quarter
Furniture and equipment write-down	`FurnitureAndEquipmentWritedown`	$20.82K	USD	1 Quarter
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$442.94K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-468.68K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-83.18K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$210.77K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-677.16K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$210.77K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-677.16K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	12.74M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	12.74M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.74M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.74M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss`	$210.77K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-677.16K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$369.34K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$444.73K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$76.96K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$87.84K	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$15.72K	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$4.47K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$122.90K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$54.58K	USD	1 Quarter
Accretion of participation liability	`IncreaseDecreaseInParticipationLiabilities`	$38.21K	USD	1 Quarter
Accretion of participation liability	`IncreaseDecreaseInParticipationLiabilities`	$-32.14K	USD	1 Quarter
Furniture and equipment write-down	`FurnitureAndEquipmentWritedown`	-	USD	1 Quarter
Furniture and equipment write-down	`FurnitureAndEquipmentWritedown`	$20.82K	USD	1 Quarter
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$442.94K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$27.30K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-402.12K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-26.02K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.20K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-43.42K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-397.10K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$935.00	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-63.09K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-472.90K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-137.72K	USD	1 Quarter
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$378.00	USD	1 Quarter
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Capital expenditures on oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$1.01M	USD	1 Quarter
Capital expenditures on oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$496.22K	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-496.22K	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.01M	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`	-	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-325.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.80M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-633.94K	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`	$1.33M	USD	Point-in-time
Cash and cash equivalents Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$700.34K	USD	Point-in-time
Cash and cash equivalents Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.29M	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`	$700.34K	USD	Point-in-time
Cash and cash equivalents End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.29M	USD	Point-in-time

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