10-K Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001354488-15-000027`
Period End Date	20140930
Filing Date	20150105
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	vnge-20130930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 46 Cash Flow Statement 58 Stockholders Equity 8

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Discount on Note Payable Current portion	`DiscountOnNotePayableCurrentPortion`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.25K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.09M	USD	Point-in-time
Discount on Note Payable Current portion	`DiscountOnNotePayableCurrentPortion`	$71.75K	USD	Point-in-time
Discount on Note Payable	`DiscountOnNotePayable`	$441.13K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Discount on Note Payable	`DiscountOnNotePayable`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$371.76K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$12.50K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$16.05K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$51.75K	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
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Proved properties	`CapitalizedCostsProvedProperties`	$12.99M	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Proved properties	`CapitalizedCostsProvedProperties`	-	USD	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
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Unproved properties and properties under development, not being amortized	`CapitalizedCostUnprovedProperties`	-	USD	Point-in-time
Furniture and equipment	`FixturesAndEquipmentGross`	$26.95K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Furniture and equipment	`FixturesAndEquipmentGross`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Less: accumulated depreciation, depletion and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$6.59M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Less: accumulated depreciation, depletion and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	-	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	115,243.00	shares	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	115,243.00	shares	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$6.49M	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNet`	$538.70K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	115,243.00	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	115,243.00	shares	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNet`	$83.65K	USD	Point-in-time
Other assets	`OtherAssets`	$10.81K	USD	Point-in-time
Other assets	`OtherAssets`	-	USD	Point-in-time
Total assets	`Assets`	$135.41K	USD	Point-in-time
Total assets	`Assets`	$8.76M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$113.31K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$578.00	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$702.90K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$309.54K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$8.60K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$12.65K	USD	Point-in-time
Current portion of notes payable, net of discount of $71,750 and $0	`NotesAndLoansPayableCurrent`	-	USD	Point-in-time
Current portion of notes payable, net of discount of $71,750 and $0	`NotesAndLoansPayableCurrent`	$2.92M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$435.51K	USD	Point-in-time
Notes payable, net of discount of $0 and $441,132	`NotesPayable`	-	USD	Point-in-time
Notes payable, net of discount of $0 and $441,132	`NotesPayable`	$7.81M	USD	Point-in-time
Participation liability	`AccruedParticipationLiabilitiesDueInNextOperatingCycle`	$465.55K	USD	Point-in-time
Participation liability	`AccruedParticipationLiabilitiesDueInNextOperatingCycle`	-	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$96.41K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	-	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligation`	$177.69K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.64M	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; 100,000,000 and 50,000,000 shares authorized at September 20, 2014 and 2013 respectively, 115,243 and 12,741,512 shares issued and outstanding at September 30, 2014 and 2013, respectively	`CommonStockValue`	$127.00	USD	Point-in-time
Common stock, $0.00001 par value; 100,000,000 and 50,000,000 shares authorized at September 20, 2014 and 2013 respectively, 115,243 and 12,741,512 shares issued and outstanding at September 30, 2014 and 2013, respectively	`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`	$-9.02M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.65M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.50M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$3.27M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-131.40K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$135.41K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$8.76M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Oil and gas sales	`OilAndGasSalesRevenue`	$4.64M	USD	Annual
Oil and gas sales	`OilAndGasSalesRevenue`	$1.68M	USD	Annual
Lease operating expense	`LeaseOperatingExpense`	$544.04K	USD	Annual
Lease operating expense	`LeaseOperatingExpense`	$714.67K	USD	Annual
Production taxes	`ProductionTaxExpense`	$214.13K	USD	Annual
Production taxes	`ProductionTaxExpense`	$77.25K	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.85M	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$984.20K	USD	Annual
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$861.58K	USD	Annual
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$3.63M	USD	Annual
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$23.19K	USD	Annual
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	$29.09K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$904.41K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.37M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$7.81M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$3.40M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.72M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-3.17M	USD	Annual
Other income	`OtherIncome`	$2.65K	USD	Annual
Other income	`OtherIncome`	$7.39K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.34K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$233.00	USD	Annual
Gain on settlement of participation liability	`GainOnSettlementOfParticipationLiability`	-	USD	Annual
Gain on settlement of participation liability	`GainOnSettlementOfParticipationLiability`	$171.77K	USD	Annual
Interest expense	`InterestExpense`	$1.46M	USD	Annual
Interest expense	`InterestExpense`	$1.86M	USD	Annual
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	Annual
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$652.76K	USD	Annual
Change in estimate of participation liability	`ChangeInEstimateOfParticipationLiability`	$-969.73K	USD	Annual
Change in estimate of participation liability	`ChangeInEstimateOfParticipationLiability`	-	USD	Annual
Other equipment write-off	`OtherAssetImpairmentCharges`	-	USD	Annual
Other equipment write-off	`OtherAssetImpairmentCharges`	$-20.82K	USD	Annual
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-380.54K	USD	Annual
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Total other expense	`OtherNonoperatingIncomeExpense`	$-233.16K	USD	Annual
Total other expense	`OtherNonoperatingIncomeExpense`	$-1.64M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-3.40M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-3.37M	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`	$-3.37M	USD	Annual
Loss per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-26.68	USD	Annual
Loss per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-26.74	USD	Annual
Weighted average number of common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	125,130.00	shares	Annual
Weighted average number of common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	127,114.00	shares	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.40M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.37M	USD	Annual
Depreciation, depletion and amortization	`DepreciationAndAmortization`	$941.29K	USD	Annual
Depreciation, depletion and amortization	`DepreciationAndAmortization`	$1.85M	USD	Annual
Impairment of Oil and Gas Properties	`ImpairmentOfOilAndGasProperties`	$861.58K	USD	Annual
Impairment of Oil and Gas Properties	`ImpairmentOfOilAndGasProperties`	$3.63M	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$274.74K	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$318.71K	USD	Annual
Gain on settlement of participation liability	`GainOnSettlementOfParticipationLiability`	-	USD	Annual
Gain on settlement of participation liability	`GainOnSettlementOfParticipationLiability`	$171.77K	USD	Annual
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-380.54K	USD	Annual
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Asset retirement obligation accretion	`AssetRetirementObligationAccretion`	$81.28K	USD	Annual
Asset retirement obligation accretion	`AssetRetirementObligationAccretion`	$29.09K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$272.20K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$169.15K	USD	Annual
Accretion of participation liability	`IncreaseDecreaseInParticipationLiabilities`	$-63.16K	USD	Annual
Accretion of participation liability	`IncreaseDecreaseInParticipationLiabilities`	$-138.32K	USD	Annual
Other equipment write-off	`OtherEquipmentWriteoff`	$20.82K	USD	Annual
Other equipment write-off	`OtherEquipmentWriteoff`	-	USD	Annual
Change in estimate of participation liability	`ChangeInEstimateOfParticipationLiability`	$-969.73K	USD	Annual
Change in estimate of participation liability	`ChangeInEstimateOfParticipationLiability`	-	USD	Annual
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	Annual
Change in fair value of warrant and conversion feature liabilities	`GainLossOnDerivativeInstrumentsNetPretax`	$652.76K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-343.19K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-243.87K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$5.16K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-14.36K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-284.97K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-112.74K	USD	Annual
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	-	USD	Annual
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$393.36K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-22.52K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-4.05K	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$928.68K	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-291.92K	USD	Annual
Capital expenditures on oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$2.36M	USD	Annual
Capital expenditures on oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$1.01M	USD	Annual
Proceeds from sale of oil and gas properties	`ProceedsFromSaleOfRealEstate`	-	USD	Annual
Proceeds from sale of oil and gas properties	`ProceedsFromSaleOfRealEstate`	$5.50M	USD	Annual
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.45K	USD	Annual
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.36M	USD	Annual
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.49M	USD	Annual
Proceeds from issuance (repayment) of notes payable	`ProceedsFromNotesPayable`	$-325.00K	USD	Annual
Proceeds from issuance (repayment) of notes payable	`ProceedsFromNotesPayable`	$-5.26M	USD	Annual
Settlement of participation liability	`SettlementOfParticipationLiability`	$230.62K	USD	Annual
Settlement of participation liability	`SettlementOfParticipationLiability`	-	USD	Annual
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.49M	USD	Annual
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-325.00K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.76M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.30M	USD	Annual
Cash and cash equivalents Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	USD	Point-in-time
Cash and cash equivalents Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.25K	USD	Point-in-time
Cash and cash equivalents Beginning 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`	$39.25K	USD	Point-in-time
Cash and cash equivalents End of period	`CashAndCashEquivalentsAtCarryingValue`	$3.09M	USD	Point-in-time

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$-3.50M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$3.27M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-131.40K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-3.40M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.37M	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$-3.50M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$3.27M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-131.40K	USD	Point-in-time

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