10-Q Filing

SUMMIT NETWORKS INC. CIK: 1619096 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001477932-15-000099`
Period End Date	20141031
Filing Date	20150106
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	sni-20141031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 34 Income Statement 11 Cash Flow Statement 17

Balance Sheet 34 line items

Line Item	Tag	Value	Unit	Period
Common Stock Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock Par Value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$110.00	USD	Point-in-time
Cash	`Cash`	$13.99K	USD	Point-in-time
Common Stock Shares Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common Stock Shares Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$13.99K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$110.00	USD	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	4.00M	shares	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	4.00M	shares	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	4.00M	shares	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	4.00M	shares	Point-in-time
Other Assets	`OtherAssets`	$1.00K	USD	Point-in-time
Other Assets	`OtherAssets`	$1.00K	USD	Point-in-time
Property	`PropertyPlantAndEquipmentNet`	$8.00K	USD	Point-in-time
Property	`PropertyPlantAndEquipmentNet`	$8.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.11K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$22.99K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$20.00	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$202.00	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$2.29K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.50K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$20.00	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.00K	USD	Point-in-time
Common stock, $0.001 par value, 75,000,000 shares authorized; 4,000,000 shares issued and outstanding as of October 31, 2014 and July 31, 2014	`CommonStockValue`	$4.00K	USD	Point-in-time
Common stock, $0.001 par value, 75,000,000 shares authorized; 4,000,000 shares issued and outstanding as of October 31, 2014 and July 31, 2014	`CommonStockValue`	$4.00K	USD	Point-in-time
Income (deficit) accumulated during development stage	`RetainedEarningsAccumulatedDeficit`	$13.00K	USD	Point-in-time
Income (deficit) accumulated during development stage	`RetainedEarningsAccumulatedDeficit`	$5.09K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$9.09K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$17.00K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$22.99K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$9.11K	USD	Point-in-time

Income Statement 11 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$22.41K	USD	1 Quarter
Cost of Goods	`CostOfGoodsAndServicesSold`	$6.90K	USD	1 Quarter
Gross Profit	`GrossProfit`	$15.51K	USD	1 Quarter
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$5.31K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$10.20K	USD	1 Quarter
Other income (expenses)	`OtherNonoperatingIncomeExpense`	$100.00	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.20K	USD	1 Quarter
Income tax provision	`CurrentIncomeTaxExpenseBenefit`	$2.29K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$7.91K	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	4.00M	shares	1 Quarter

Cash Flow Statement 17 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$7.91K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-1.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$2.29K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$3.50K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.70K	USD	1 Quarter
Acquistion of Property	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.00K	USD	1 Quarter
Advances from related party	`ProceedsFromRelatedPartyDebt`	$182.00	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$182.00	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.88K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$110.00	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.99K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$110.00	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$13.99K	USD	Point-in-time
Cash paid during year for Interest	`InterestPaid`	-	USD	1 Quarter
Cash paid during year for Income Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

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