10-K Filing

KONATEL, INC. CIK: 845819 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001515971-14-000538`
Period End Date	20140930
Filing Date	20141205
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	dalp-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 30 Income Statement 14 Cash Flow Statement 25 Stockholders Equity 11

Balance Sheet 30 line items

Line Item	Tag	Value	Unit	Period
Series A preferred convertible stock, par value per share in dollars	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.18M	USD	Point-in-time
Series A preferred convertible stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Series A preferred convertible stock, shares issued	`PreferredStockSharesIssued`	2,025.00	shares	Point-in-time
Receivables	`ReceivablesNetCurrent`	$1.78K	USD	Point-in-time
Prepaid assets	`PrepaidExpenseAndOtherAssetsCurrent`	$34.10K	USD	Point-in-time
Series A preferred convertible stock, shares outstanding	`PreferredStockSharesOutstanding`	2,025.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.22M	USD	Point-in-time
Series A preferred convertible stock, dividend rate	`SeriesPreferredConvertibleStockDividendRate`	0.06	pure	Point-in-time
Oil and natural gas properties, at cost, using the full cost method of accounting, unproved	`UnprovedOilAndGasPropertySuccessfulEffortMethod`	$1.90M	USD	Point-in-time
Common stock, par value in dollars	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.12M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	12.50M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$55.21K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	12.50M	shares	Point-in-time
Due to related parties	`AccountsPayableRelatedPartiesCurrent`	$11.29K	USD	Point-in-time
Registration rights liability	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$18.23K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$84.72K	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$2.82M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.90M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A preferred convertible stock	`PreferredStockValue`	$1.31M	USD	Point-in-time
Common Stock	`CommonStockValue`	$12.50K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.75M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.10M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	-	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$3.12M	USD	Point-in-time

Income Statement 14 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$399.57K	USD	3 Qtrs
Impairment of oil and natural gas properties	`ImpairmentOfOilAndGasProperties`	$260.72K	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$660.29K	USD	3 Qtrs
Net loss from operations	`OperatingIncomeLoss`	$-660.29K	USD	3 Qtrs
Loss on derivative valuation	`UnrealizedGainLossOnDerivatives`	$-2.00M	USD	3 Qtrs
Registration rights expense	`OtherNonoperatingExpense`	$48.60K	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.26K	USD	3 Qtrs
Total non-operating expenses	`NonoperatingIncomeExpense`	$-2.05M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.71M	USD	3 Qtrs
Dividends on preferred stock	`Dividends`	$39.49K	USD	3 Qtrs
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.75M	USD	3 Qtrs
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	$-0.43	USD	3 Qtrs
Weighted average number of shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.38M	shares	3 Qtrs

Cash Flow Statement 25 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.71M	USD	3 Qtrs
Impairment of oil and natural gas properties	`ImpairmentOfOilAndGasProperties`	$260.72K	USD	3 Qtrs
Loss on changes in fair value of derivatives	`DerivativeGainLossOnDerivativeNet`	$2.00M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$44.35K	USD	3 Qtrs
Accounts receivable, related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-1.78K	USD	3 Qtrs
Prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$-34.10K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$55.21K	USD	3 Qtrs
Registration rights liability	`IncreaseDecreaseInOtherAccruedLiabilities`	$18.23K	USD	3 Qtrs
Due to related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$11.29K	USD	3 Qtrs
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-356.24K	USD	3 Qtrs
Payment of net liabilites from Westcott in Reverse Merger	`RepaymentsOfAssumedDebt`	$151.52K	USD	3 Qtrs
Cash paid for oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$260.72K	USD	3 Qtrs
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-412.25K	USD	3 Qtrs
Proceeds from issuance of convertible preferred stock, net of offering costs	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$1.99M	USD	3 Qtrs
Payment of dividends on preferred stock	`DividendsPreferredStock`	$-39.49K	USD	3 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$1.95M	USD	3 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.18M	USD	3 Qtrs
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.18M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
CASH AND CASH EQUIVALENTS AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.18M	USD	Point-in-time
Income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Interest	`InterestPaid`	$1.26K	USD	3 Qtrs
Issuance of common stock for oil and natural gas properties	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$1.90M	USD	3 Qtrs
Derivative liabilities related to preferred stock and warrants	`IncreaseDecreaseInDerivativeLiabilities`	$817.81K	USD	3 Qtrs

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$-1.10M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	-	USD	Point-in-time
Contributed assets in exchange for common stock, value	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$1.90M	USD	3 Qtrs
Recapitalization from Reverse Merger, value	`StockIssuedDuringPeriodValueNewIssues`	$-151.52K	USD	3 Qtrs
Derivatives related to preferred stock and warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$-106.76K	USD	3 Qtrs
Offering costs related to issuance of preferred stock	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$-35.00K	USD	3 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$44.35K	USD	3 Qtrs
Dividends on preferred stock	`DividendsPreferredStock`	$-39.49K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.71M	USD	3 Qtrs
Ending Balance	`StockholdersEquity`	$-1.10M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	-	USD	Point-in-time

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