10-K/A Filing

SUMMIT NETWORKS INC. CIK: 1619096 FY 2016

Filing Information

Form Type	10-K/A
Accession Number	`0001477932-17-002566`
Period End Date	20160731
Filing Date	20170526
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	sni-20160731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 40 Income Statement 32 Cash Flow Statement 54 Stockholders Equity 14

Balance Sheet 40 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
Common Stock Shares Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Cash	`Cash`	$8.71K	USD	Point-in-time
Common Stock Shares Authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Cash	`Cash`	$859.00	USD	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	5.00M	shares	Point-in-time
Common Stock Shares Issued	`CommonStockSharesIssued`	5.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.71K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$859.00	USD	Point-in-time
Other Assets	`OtherAssets`	$1.00K	USD	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	5.00M	shares	Point-in-time
Other Assets	`OtherAssets`	$1.00K	USD	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	5.00M	shares	Point-in-time
Property & Office Equipment, net	`PropertyPlantAndEquipmentNet`	$14.36K	USD	Point-in-time
Property & Office Equipment, net	`PropertyPlantAndEquipmentNet`	$15.96K	USD	Point-in-time
Deferred Tax Asset	`DeferredTaxAssetsLiabilitiesNet`	$1.48K	USD	Point-in-time
Deferred Tax Asset	`DeferredTaxAssetsLiabilitiesNet`	$1.48K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$17.70K	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`	$458.00	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	-	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$500.00	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$500.00	USD	Point-in-time
Total Liabilities	`Liabilities`	$958.00	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 5,000,000 shares issued and outstanding as of July 31, 2016 and July 31, 2015	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, ($0.001 par value, 75,000,000 shares authorized; 5,000,000 and 5,000,000 shares issued and outstanding as of July 31, 2016 and July 31, 2015	`CommonStockValue`	$5.00K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$39.00K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$39.00K	USD	Point-in-time
Income/(loss) accumulated during development stage	`RetainedEarningsAccumulatedDeficit`	$-27.26K	USD	Point-in-time
Income/(loss) accumulated during development stage	`RetainedEarningsAccumulatedDeficit`	$-17.81K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$26.19K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$9.09K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$16.74K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	-	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$17.70K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$27.15K	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$46.54K	USD	Annual
Sales	`SalesRevenueNet`	$195.72K	USD	8 Qtrs
Sales	`SalesRevenueNet`	$119.08K	USD	Annual
Cost of Goods	`CostOfGoodsSold`	$141.99K	USD	8 Qtrs
Cost of Goods	`CostOfGoodsSold`	$88.69K	USD	Annual
Cost of Goods	`CostOfGoodsSold`	$30.30K	USD	Annual
Gross Profit	`GrossProfit`	$53.73K	USD	8 Qtrs
Gross Profit	`GrossProfit`	$16.24K	USD	Annual
Gross Profit	`GrossProfit`	$30.39K	USD	Annual
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$82.46K	USD	8 Qtrs
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$25.68K	USD	Annual
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$54.77K	USD	Annual
Income / (loss) from operations	`OperatingIncomeLoss`	$-9.45K	USD	Annual
Income / (loss) from operations	`OperatingIncomeLoss`	$-24.38K	USD	Annual
Income / (loss) from operations	`OperatingIncomeLoss`	$-28.74K	USD	8 Qtrs
Other income / (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	8 Qtrs
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`	$-28.74K	USD	8 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.45K	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.48K	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.48K	USD	8 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-27.26K	USD	8 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$5.09K	USD	Point-in-time
Net Income (Loss)	`NetIncomeLoss`	$-22.90K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-9.45K	USD	Annual
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`	5.00M	shares	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.00M	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-27.26K	USD	8 Qtrs
Net income (loss)	`NetIncomeLoss`	$5.09K	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-22.90K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-9.45K	USD	Annual
Depreciation Expense	`Depreciation`	$1.59K	USD	Annual
Depreciation Expense	`Depreciation`	$3.39K	USD	8 Qtrs
Depreciation Expense	`Depreciation`	$1.79K	USD	Annual
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.48K	USD	8 Qtrs
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.48K	USD	Annual
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.48K	USD	Annual
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$1.00K	USD	8 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	Annual
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.48K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	8 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$500.00	USD	8 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$500.00	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-22.09K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-25.85K	USD	8 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.85K	USD	Annual
Acquistion of Property & Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.75K	USD	Annual
Acquistion of Property & Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.75K	USD	8 Qtrs
Acquistion of Property & Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.75K	USD	8 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.75K	USD	Annual
Advances from related party	`ProceedsFromRelatedPartyDebt`	$458.00	USD	8 Qtrs
Advances from related party	`ProceedsFromRelatedPartyDebt`	$438.00	USD	Annual
Advances from related party	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$40.00K	USD	Annual
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$44.00K	USD	8 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$44.46K	USD	8 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$40.44K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.85K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$859.00	USD	8 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.60K	USD	Annual
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$859.00	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$110.00	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.71K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$859.00	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$110.00	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$8.71K	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 Interest	`InterestPaid`	-	USD	8 Qtrs
Cash paid during year for Income Taxes	`IncomeTaxesPaid`	-	USD	8 Qtrs
Cash paid during year for Income Taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid during year for Income Taxes	`IncomeTaxesPaid`	-	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$26.19K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$9.09K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$16.74K	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	`StockIssuedDuringPeriodValueNewIssues`	$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`	$-27.26K	USD	8 Qtrs
Net loss	`NetIncomeLoss`	$5.09K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-22.90K	USD	Annual
Net loss	`NetIncomeLoss`	$-9.45K	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$26.19K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$9.09K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$16.74K	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.