10-K Filing

SUMMIT NETWORKS INC. CIK: 1619096 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001477932-15-006668`
Period End Date	20150731
Filing Date	20151029
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	sni-20150731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 38 Income Statement 23 Cash Flow Statement 39 Stockholders Equity 11

Balance Sheet 38 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`	$8.71K	USD	Point-in-time
Cash	`Cash`	$110.00	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`	$8.71K	USD	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	5.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$110.00	USD	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	4.00M	shares	Point-in-time
Other Assets	`OtherAssets`	$1.00K	USD	Point-in-time
Other Assets	`OtherAssets`	$1.00K	USD	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	4.00M	shares	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	5.00M	shares	Point-in-time
Property & Office Equipment, net	`PropertyPlantAndEquipmentNet`	$15.96K	USD	Point-in-time
Property & Office Equipment, net	`PropertyPlantAndEquipmentNet`	$8.00K	USD	Point-in-time
Deferred Tax Asset	`DeferredTaxAssetsLiabilitiesNet`	$1.48K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.11K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$27.15K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$458.00	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$20.00	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	-	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$500.00	USD	Point-in-time
Total Liabilities	`Liabilities`	$20.00	USD	Point-in-time
Total Liabilities	`Liabilities`	$958.00	USD	Point-in-time
Common stock, ($0.001 par value, 75,000,000 shares authorized; 5,000,000 and 4,000,000 shares issued and outstanding as of July 31, 2015 and July 31, 2014	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, ($0.001 par value, 75,000,000 shares authorized; 5,000,000 and 4,000,000 shares issued and outstanding as of July 31, 2015 and July 31, 2014	`CommonStockValue`	$4.00K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$39.00K	USD	Point-in-time
Income (deficit) accumulated during development stage	`RetainedEarningsAccumulatedDeficit`	$-17.81K	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`	$26.19K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	-	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$9.11K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$27.15K	USD	Point-in-time

Income Statement 23 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$30.10K	USD	Annual
Sales	`SalesRevenueNet`	$119.08K	USD	Annual
Cost of Goods	`CostOfGoodsSold`	$23.00K	USD	Annual
Cost of Goods	`CostOfGoodsSold`	$88.69K	USD	Annual
Gross Profit	`GrossProfit`	$7.10K	USD	Annual
Gross Profit	`GrossProfit`	$30.39K	USD	Annual
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$54.77K	USD	Annual
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$2.01K	USD	Annual
Income from operations	`OperatingIncomeLoss`	$5.09K	USD	Annual
Income from operations	`OperatingIncomeLoss`	$-24.38K	USD	Annual
Other income (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Other income (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-24.38K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.09K	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.48K	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$5.09K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-22.90K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$5.09K	USD	Point-in-time
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.34M	shares	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.00M	shares	Annual

Cash Flow Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$5.09K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-22.90K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$5.09K	USD	Point-in-time
Depreciation Expense	`Depreciation`	-	USD	Annual
Depreciation Expense	`Depreciation`	$1.79K	USD	Annual
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.48K	USD	Annual
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-1.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-1.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$500.00	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.09K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-22.09K	USD	Annual
Acquistion of Property & Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.00K	USD	Annual
Acquistion of Property & Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.75K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.75K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.00K	USD	Annual
Advances from related party	`ProceedsFromRelatedPartyDebt`	$438.00	USD	Annual
Advances from related party	`ProceedsFromRelatedPartyDebt`	$20.00	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.00K	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$40.00K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$40.44K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.02K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$110.00	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.60K	USD	Annual
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.71K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$110.00	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$8.71K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$110.00	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash paid during year for Interest	`InterestPaid`	-	USD	Annual
Cash paid during year for Interest	`InterestPaid`	-	USD	Annual
Cash paid during year for Income Taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid during year for Income Taxes	`IncomeTaxesPaid`	-	USD	Annual

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$9.09K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$26.19K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	-	USD	Point-in-time
Stock issued for cash on July 23, 2014 @ $0.001 per share, Amount	`StockIssuedForCashOnJuly2320140.001PerShareAmount`	$4.00K	USD	Point-in-time
Stock issued for cash on January 29, 2015 @ $0.04 per share, Amount	`StockIssuedForCashOnJanuary2920150.04PerShareAmount`	$40.00K	USD	Annual
Net loss	`NetIncomeLoss`	$5.09K	USD	Annual
Net loss	`NetIncomeLoss`	$-22.90K	USD	Annual
Net loss	`NetIncomeLoss`	$5.09K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$9.09K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$26.19K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	-	USD	Point-in-time

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