10-Q Filing

SUMMIT NETWORKS INC. CIK: 1619096 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001477932-17-002570`
Period End Date	20170430
Filing Date	20170526
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	sni-20170430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 36 Income Statement 53 Cash Flow Statement 57

Balance Sheet 36 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`	$902.00	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`	$859.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$902.00	USD	Point-in-time
Other Assets	`OtherAssets`	$1.00K	USD	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	5.00M	shares	Point-in-time
Common Stock Shares Outstanding	`CommonStockSharesOutstanding`	5.00M	shares	Point-in-time
Other Assets	`OtherAssets`	$1.00K	USD	Point-in-time
Property & Office Equipment, net	`PropertyPlantAndEquipmentNet`	$14.36K	USD	Point-in-time
Property & Office Equipment, net	`PropertyPlantAndEquipmentNet`	$13.17K	USD	Point-in-time
Deferred Tax Asset	`DeferredTaxAssetsNet`	$1.48K	USD	Point-in-time
Deferred Tax Asset	`DeferredTaxAssetsNet`	-	USD	Point-in-time
TOTAL ASSETS	`Assets`	$17.70K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$15.07K	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
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 shares issued and outstanding as of April 30, 2017 and July 31, 2016	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock, ($0.001 par value, 75,000,000 shares authorized; 5,000,000 shares issued and outstanding as of April 30, 2017 and July 31, 2016	`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 (deficit) accumulated during development stage	`RetainedEarningsAccumulatedDeficit`	$-27.26K	USD	Point-in-time
Income (deficit) accumulated during development stage	`RetainedEarningsAccumulatedDeficit`	$-29.89K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$14.11K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$16.74K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$15.07K	USD	Point-in-time
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$17.70K	USD	Point-in-time

Income Statement 53 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$6.87K	USD	1 Quarter
Sales	`SalesRevenueNet`	$223.91K	USD	11 Qtrs
Sales	`SalesRevenueNet`	$8.01K	USD	1 Quarter
Sales	`SalesRevenueNet`	$36.25K	USD	3 Qtrs
Sales	`SalesRevenueNet`	$28.19K	USD	3 Qtrs
Cost of Goods	`CostOfGoodsSold`	$6.35K	USD	1 Quarter
Cost of Goods	`CostOfGoodsSold`	$21.83K	USD	3 Qtrs
Cost of Goods	`CostOfGoodsSold`	$21.27K	USD	3 Qtrs
Cost of Goods	`CostOfGoodsSold`	$5.69K	USD	1 Quarter
Cost of Goods	`CostOfGoodsSold`	$163.26K	USD	11 Qtrs
Gross Profit	`GrossProfit`	$1.66K	USD	1 Quarter
Gross Profit	`GrossProfit`	$60.65K	USD	11 Qtrs
Gross Profit	`GrossProfit`	$1.18K	USD	1 Quarter
Gross Profit	`GrossProfit`	$6.93K	USD	3 Qtrs
Gross Profit	`GrossProfit`	$14.42K	USD	3 Qtrs
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$92.02K	USD	11 Qtrs
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$9.56K	USD	3 Qtrs
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$23.93K	USD	3 Qtrs
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$1.60K	USD	1 Quarter
Selling, General & Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$1.32K	USD	1 Quarter
Income/ (loss) from operations	`OperatingIncomeLoss`	$-31.37K	USD	11 Qtrs
Income/ (loss) from operations	`OperatingIncomeLoss`	$-9.51K	USD	3 Qtrs
Income/ (loss) from operations	`OperatingIncomeLoss`	$341.00	USD	1 Quarter
Income/ (loss) from operations	`OperatingIncomeLoss`	$-424.00	USD	1 Quarter
Income/ (loss) from operations	`OperatingIncomeLoss`	$-2.63K	USD	3 Qtrs
Other income (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	11 Qtrs
Other income (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	3 Qtrs
Other income (expenses)	`OtherNonoperatingIncomeExpense`	-	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-424.00	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-31.37K	USD	11 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.51K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.63K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$341.00	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$1.48K	USD	11 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$341.00	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-9.51K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-2.63K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-424.00	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-29.89K	USD	11 Qtrs
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.00M	shares	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.00M	shares	3 Qtrs
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.00M	shares	3 Qtrs
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.00M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$341.00	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-9.51K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-2.63K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-424.00	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-29.89K	USD	11 Qtrs
Depreciation Expense	`Depreciation`	$4.58K	USD	11 Qtrs
Depreciation Expense	`Depreciation`	$1.20K	USD	3 Qtrs
Depreciation Expense	`Depreciation`	$1.20K	USD	3 Qtrs
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	11 Qtrs
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.48K	USD	3 Qtrs
Provision (benefit) for deferred taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$1.00K	USD	11 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	3 Qtrs
Income Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	3 Qtrs
Income Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	11 Qtrs
Income Taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$500.00	USD	11 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-25.81K	USD	11 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.31K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$43.00	USD	3 Qtrs
Office & Shop	`PaymentsToAcquireBuildings`	$17.75K	USD	11 Qtrs
Office & Shop	`PaymentsToAcquireBuildings`	-	USD	3 Qtrs
Office & Shop	`PaymentsToAcquireBuildings`	-	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.75K	USD	11 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Advances from related party	`ProceedsFromRelatedPartyDebt`	$458.00	USD	11 Qtrs
Advances from related party	`ProceedsFromRelatedPartyDebt`	-	USD	3 Qtrs
Advances from related party	`ProceedsFromRelatedPartyDebt`	-	USD	3 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$44.00K	USD	11 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$44.46K	USD	11 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$902.00	USD	11 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.31K	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$43.00	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$902.00	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.71K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$859.00	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$396.00	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$902.00	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$8.71K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$859.00	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$396.00	USD	Point-in-time
Cash paid during year for Interest	`InterestPaid`	-	USD	11 Qtrs
Cash paid during year for Interest	`InterestPaid`	-	USD	3 Qtrs
Cash paid during year for Interest	`InterestPaid`	-	USD	3 Qtrs
Cash paid during year for Income Taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid during year for Income Taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid during year for Income Taxes	`IncomeTaxesPaid`	-	USD	11 Qtrs

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