10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001575705-20-000126`
Period End Date	20191231
Filing Date	20200707
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	gstx-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 26 Cash Flow Statement 47 Stockholders Equity 16

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$4.13K	USD	Point-in-time
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$51.95K	USD	Point-in-time
Discount	`DebtInstrumentUnamortizedDiscountCurrent`	-	USD	Point-in-time
Discount	`DebtInstrumentUnamortizedDiscountCurrent`	$65.79K	USD	Point-in-time
Cash and cash equivalents	`Cash`	$74.24K	USD	Point-in-time
Preferred stock, shares par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`Cash`	$39.17K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.68K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$12.61K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$5.20K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$5.39K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$91.12K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$57.17K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Furniture & Equipment, net of depreciation, $4,130 and $51,946	`PropertyPlantAndEquipmentNet`	$27.87K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Furniture & Equipment, net of depreciation, $4,130 and $51,946	`PropertyPlantAndEquipmentNet`	$24.70K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	242.60M	shares	Point-in-time
Quartz Deposits	`DepositsAssets`	$28.41K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	242.45M	shares	Point-in-time
Quartz Deposits	`DepositsAssets`	$29.50K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	242.60M	shares	Point-in-time
Total Other Assets	`OtherAssets`	$56.28K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	242.45M	shares	Point-in-time
Total Other Assets	`OtherAssets`	$54.19K	USD	Point-in-time
Total Assets	`Assets`	$111.36K	USD	Point-in-time
Total Assets	`Assets`	$147.41K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$449.86K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$402.60K	USD	Point-in-time
Accrued interest & other payables	`InterestPayableCurrent`	$135.05K	USD	Point-in-time
Accrued interest & other payables	`InterestPayableCurrent`	$110.74K	USD	Point-in-time
Short term notes payable	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Short term notes payable	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$486.07K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$455.58K	USD	Point-in-time
Convertible notes payable-, net of discount $65,794 and $0	`ConvertibleNotesPayableCurrent`	$103.17K	USD	Point-in-time
Convertible notes payable-, net of discount $65,794 and $0	`ConvertibleNotesPayableCurrent`	$100.75K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.13M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.23M	USD	Point-in-time
Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 and 500,000,000 shares authorized; 242,603,100 and 242,449,767 shares issued and outstanding	`CommonStockValue`	$2.42K	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 and 500,000,000 shares authorized; 242,603,100 and 242,449,767 shares issued and outstanding	`CommonStockValue`	$2.43K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.05M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.17M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$100.72K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$79.62K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.13M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.37M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-1.12M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-819.21K	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-639.60K	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$147.41K	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$111.36K	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Professional Services	`ProfessionalFees`	$100.20K	USD	1 Quarter
Professional Services	`ProfessionalFees`	$179.49K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$55.85K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$172.12K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$272.32K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$235.34K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-235.34K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-272.32K	USD	1 Quarter
Other income	`OtherIncome`	$1.43K	USD	1 Quarter
Other income	`OtherIncome`	$2.05K	USD	1 Quarter
Interest expense	`InterestExpense`	$7.76K	USD	1 Quarter
Interest expense	`InterestExpense`	$7.37K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-5.32K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-6.33K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-240.65K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-278.64K	USD	1 Quarter
Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$36.89K	USD	1 Quarter
Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$-21.10K	USD	1 Quarter
Net Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-261.75K	USD	1 Quarter
Net Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-241.75K	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	234.30M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	242.57M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss`	$-240.65K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-278.64K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$100.20K	USD	1 Quarter
Depreciation expense	`Depreciation`	$4.33K	USD	1 Quarter
Depreciation expense	`Depreciation`	$4.13K	USD	1 Quarter
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$2.43K	USD	1 Quarter
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$952.00	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-30.87K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$59.66K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$2.65K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$4.94K	USD	1 Quarter
Accrued Liabilities	`IncreaseDecreaseInAccruedLiabilities`	-	USD	1 Quarter
Accrued Liabilities	`IncreaseDecreaseInAccruedLiabilities`	$4.16K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$198.00	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	-	USD	1 Quarter
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	$921.00	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$51.24K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$-63.84K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-119.36K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-261.05K	USD	1 Quarter
Due to Affiliates	`IncreaseDecreaseInDueToAffiliates`	-	USD	1 Quarter
Due to Affiliates	`IncreaseDecreaseInDueToAffiliates`	-	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$345.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$53.00K	USD	1 Quarter
Repayments to related party	`RepaymentsOfRelatedPartyDebt`	$36.93K	USD	1 Quarter
Repayments to related party	`RepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Issuance of short term note payable	`ProceedsFromNotesPayable`	$68.22K	USD	1 Quarter
Issuance of short term note payable	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$345.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$84.29K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$3.18K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$87.13K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-35.08K	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.70K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$93.83K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.17K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$6.70K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$93.83K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$39.17K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Debt discount	`DebtDiscount`	$68.22K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-1.12M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-819.21K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-639.60K	USD	Point-in-time
Shares issued in connection with the sale of common stock, Amount	`SharesIssuedInConnectionWithTheSaleOfCommonStockAmount`	$53.00K	USD	1 Quarter
Shares issued in connection with the sale of common stock, Amount	`SharesIssuedInConnectionWithTheSaleOfCommonStockAmount`	$341.09K	USD	1 Quarter
Stock-based compensation expense, Amount	`StockGrantedDuringPeriodValueSharebasedCompensation`	$100.20K	USD	1 Quarter
Debt discount	`DebtDiscount`	$68.22K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$36.89K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-21.10K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-240.65K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-278.64K	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-1.12M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-819.21K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-639.60K	USD	Point-in-time

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