10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001575705-20-000133`
Period End Date	20200331
Filing Date	20200716
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	gstx-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 56 Cash Flow Statement 61 Stockholders Equity 28

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$8.01K	USD	Point-in-time
Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$51.95K	USD	Point-in-time
Discount	`DebtInstrumentUnamortizedDiscountCurrent`	-	USD	Point-in-time
Discount	`DebtInstrumentUnamortizedDiscountCurrent`	-	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`	$16.80K	USD	Point-in-time
Cash and cash equivalents	`Cash`	$1.89K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.94K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.68K	USD	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`	$4.75K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$91.12K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$18.58K	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, $8,006 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, $8,006 and $51,946	`PropertyPlantAndEquipmentNet`	$18.07K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	242.45M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	243.16M	shares	Point-in-time
Quartz Deposits	`DepositsAssets`	$28.41K	USD	Point-in-time
Quartz Deposits	`DepositsAssets`	$26.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	243.16M	shares	Point-in-time
Total Other Assets	`OtherAssets`	$44.07K	USD	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 Assets	`Assets`	$62.65K	USD	Point-in-time
Total Assets	`Assets`	$147.41K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$510.24K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$402.60K	USD	Point-in-time
Accrued interest & other payables	`InterestPayableCurrent`	$113.70K	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`	$474.44K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$455.58K	USD	Point-in-time
Convertible notes payable-, net of discount $0 and $0	`ConvertibleNotesPayableCurrent`	$100.75K	USD	Point-in-time
Convertible notes payable-, net of discount $0 and $0	`ConvertibleNotesPayableCurrent`	$111.67K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.13M	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; 243,159,567 and 242,449,767 shares issued and outstanding	`CommonStockValue`	$2.43K	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 and 500,000,000 shares authorized; 243,159,567 and 242,449,767 shares issued and outstanding	`CommonStockValue`	$2.42K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.05M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.18M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$156.12K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$100.72K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.13M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.55M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-845.92K	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`	$-982.25K	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-1.21M	USD	Point-in-time
Total stockholders' deficiency	`StockholdersEquity`	$-619.67K	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$147.41K	USD	Point-in-time
Total liabilities and stockholders' deficiency	`LiabilitiesAndStockholdersEquity`	$62.65K	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Professional Services	`ProfessionalFees`	$100.20K	USD	2 Qtrs
Professional Services	`ProfessionalFees`	$134.24K	USD	1 Quarter
Professional Services	`ProfessionalFees`	$313.72K	USD	2 Qtrs
Professional Services	`ProfessionalFees`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$85.41K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$369.22K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$29.56K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$197.59K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$399.13K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$163.80K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$197.59K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$469.42K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-197.59K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-469.42K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-163.80K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-399.13K	USD	2 Qtrs
Interest income	`InvestmentIncomeNet`	-	USD	1 Quarter
Interest income	`InvestmentIncomeNet`	-	USD	2 Qtrs
Interest income	`InvestmentIncomeNet`	-	USD	2 Qtrs
Interest income	`InvestmentIncomeNet`	-	USD	1 Quarter
Other income	`OtherIncome`	$1.98K	USD	1 Quarter
Other income	`OtherIncome`	$1.42K	USD	1 Quarter
Other income	`OtherIncome`	$2.86K	USD	2 Qtrs
Other income	`OtherIncome`	$4.03K	USD	2 Qtrs
Interest expense	`InterestExpense`	$15.08K	USD	1 Quarter
Interest expense	`InterestExpense`	$22.45K	USD	2 Qtrs
Interest expense	`InterestExpense`	$50.53K	USD	2 Qtrs
Interest expense	`InterestExpense`	$42.77K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-41.35K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-13.10K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-47.67K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-18.42K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-176.90K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-417.55K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-517.10K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-238.94K	USD	1 Quarter
Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$29.61K	USD	2 Qtrs
Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$55.40K	USD	2 Qtrs
Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$76.50K	USD	1 Quarter
Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$7.96K	USD	1 Quarter
Net Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-230.79K	USD	1 Quarter
Net Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-100.39K	USD	1 Quarter
Net Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-487.48K	USD	2 Qtrs
Net Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-362.15K	USD	2 Qtrs
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
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`	242.95M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	236.78M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	236.78M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	242.63M	shares	2 Qtrs

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss`	$-176.90K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-417.55K	USD	2 Qtrs
Net Income (loss)	`NetIncomeLoss`	$-517.10K	USD	2 Qtrs
Net Income (loss)	`NetIncomeLoss`	$-238.94K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$100.20K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$8.45K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$8.07K	USD	2 Qtrs
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$10.92K	USD	2 Qtrs
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$29.57K	USD	2 Qtrs
Change in book value of quartz assets	`ChangeInBookValueOfQuartzAssets`	-	USD	2 Qtrs
Change in book value of quartz assets	`ChangeInBookValueOfQuartzAssets`	$1.31K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$127.12K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-20.11K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$13.53K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$11.46K	USD	2 Qtrs
Accrued Liabilities	`IncreaseDecreaseInAccruedLiabilities`	-	USD	2 Qtrs
Accrued Liabilities	`IncreaseDecreaseInAccruedLiabilities`	-	USD	2 Qtrs
Derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$42.75K	USD	2 Qtrs
Derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	2 Qtrs
Change in derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$2.25K	USD	2 Qtrs
Change in derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	-	USD	2 Qtrs
Loss on conversion	`DerivativeGainLossOnDerivativeNet`	$-9.82K	USD	2 Qtrs
Loss on conversion	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Receivables	`IncreaseDecreaseInReceivables`	$-442.00	USD	2 Qtrs
Receivables	`IncreaseDecreaseInReceivables`	-	USD	2 Qtrs
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	$10.00K	USD	2 Qtrs
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	$256.00	USD	2 Qtrs
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$40.45K	USD	2 Qtrs
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$112.70K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-147.09K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-313.38K	USD	2 Qtrs
Due to Affiliates	`IncreaseDecreaseInDueToAffiliates`	-	USD	2 Qtrs
Due to Affiliates	`IncreaseDecreaseInDueToAffiliates`	-	USD	2 Qtrs
Additional paid in capital	`ProceedsFromContributionsFromParent`	$68.78K	USD	2 Qtrs
Additional paid in capital	`ProceedsFromContributionsFromParent`	$353.09K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$6.00	USD	2 Qtrs
Repayments to related party	`RepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Repayments to related party	`RepaymentsOfRelatedPartyDebt`	$53.82K	USD	2 Qtrs
Issuance of short term note payable	`ProceedsFromNotesPayable`	$68.22K	USD	2 Qtrs
Issuance of short term note payable	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$83.19K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$353.09K	USD	2 Qtrs
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-29.61K	USD	2 Qtrs
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-8.45K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.10K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-72.36K	USD	2 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.70K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.80K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.89K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$6.70K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$16.80K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.89K	USD	Point-in-time
Debt discount on convertible notes	`DebtDiscountOnConvertibleNotes`	-	USD	2 Qtrs
Debt discount on convertible notes	`DebtDiscountOnConvertibleNotes`	$68.22K	USD	2 Qtrs
Debt discount on convertible notes	`DebtDiscountOnConvertibleNotes`	$68.22K	USD	1 Quarter
Conversion of loan principal into shares	`ConversionOfLoanPrincipalIntoShares`	-	USD	2 Qtrs
Conversion of loan principal into shares	`ConversionOfLoanPrincipalIntoShares`	$12.00K	USD	2 Qtrs

Stockholders Equity 28 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$-845.92K	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`	$-982.25K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-1.21M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-619.67K	USD	Point-in-time
Shares issued in connection with the sale of common stock, Amount	`SharesIssuedInConnectionWithTheSaleOfCommonStockAmount`	$15.78K	USD	1 Quarter
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`	$12.00K	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 on Convertible Notes	`DebtDiscountOnConvertibleNotes`	-	USD	2 Qtrs
Debt discount on Convertible Notes	`DebtDiscountOnConvertibleNotes`	$68.22K	USD	2 Qtrs
Debt discount on Convertible Notes	`DebtDiscountOnConvertibleNotes`	$68.22K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$76.50K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-21.10K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-36.89K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-7.28K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-230.97K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-278.64K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-176.90K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-240.65K	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquity`	$-845.92K	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`	$-982.25K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-1.21M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-619.67K	USD	Point-in-time

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