10-K Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001575705-21-000061`
Period End Date	20200930
Filing Date	20210217
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	gstx-20200930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 38 Cash Flow Statement 73 Stockholders Equity 18

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`Cash`	$12.00	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash	`Cash`	$74.24K	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	246.25M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	242.45M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.68K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	246.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	242.45M	shares	Point-in-time
Other receivable	`OtherReceivables`	$5.20K	USD	Point-in-time
Other receivable	`OtherReceivables`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$91.12K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$12.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Furniture and equipment, net of depreciation $71,803 and $51,946	`PropertyPlantAndEquipmentNet`	$27.87K	USD	Point-in-time
Furniture and equipment, net of depreciation $71,803 and $51,946	`PropertyPlantAndEquipmentNet`	$12.26K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Mineral rights	`MineralRights`	-	USD	Point-in-time
Mineral rights	`MineralRights`	$28.41K	USD	Point-in-time
Total Assets	`Assets`	$12.27K	USD	Point-in-time
Total Assets	`Assets`	$147.41K	USD	Point-in-time
Furniture & Equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$71.80K	USD	Point-in-time
Furniture & Equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$51.95K	USD	Point-in-time
Discount	`DebtInstrumentUnamortizedDiscountCurrent`	$100.75K	USD	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$653.48K	USD	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$402.60K	USD	Point-in-time
Discount	`DebtInstrumentUnamortizedDiscountCurrent`	$52.70K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$110.74K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$132.10K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$455.58K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$717.08K	USD	Point-in-time
Notes payable - in default	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Notes payable - in default	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Convertible notes payable, net of discount $52,703 and $0, $100,747 in default	`ConvertibleNotesPayableCurrent`	$100.75K	USD	Point-in-time
Convertible notes payable, net of discount $52,703 and $0, $100,747 in default	`ConvertibleNotesPayableCurrent`	$116.26K	USD	Point-in-time
Other loans	`OtherLoansPayableCurrent`	-	USD	Point-in-time
Other loans	`OtherLoansPayableCurrent`	$5.63K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.13M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.68M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.68M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.13M	USD	Point-in-time
Preferred stock: 10,000,000 shares authorized; $0.00001 par value; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: 10,000,000 shares authorized; $0.00001 par value; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock: 500,000,000 shares authorized; $0.00001 par value; 246,248,723 and 242,449,767 shares issued and outstanding	`CommonStockValue`	$2.46K	USD	Point-in-time
Common stock: 500,000,000 shares authorized; $0.00001 par value; 246,248,723 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`	$9.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.13M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.24M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$52.02K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$100.72K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-819.21K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$147.41K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$12.27K	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	Annual
Revenue	`Revenues`	-	USD	Annual
Professional fees	`ProfessionalFees`	$881.73K	USD	Annual
Professional fees	`ProfessionalFees`	$881.10K	USD	Annual
General and administration	`GeneralAndAdministrativeExpense`	$164.16K	USD	Annual
General and administration	`GeneralAndAdministrativeExpense`	$267.11K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.05M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.15M	USD	Annual
Operating Loss	`OperatingIncomeLoss`	$-1.05M	USD	Annual
Operating Loss	`OperatingIncomeLoss`	$-1.15M	USD	Annual
Interest expense	`InterestExpense`	$36.84K	USD	Annual
Interest expense	`InterestExpense`	$76.14K	USD	Annual
Rental income	`RentalIncomeNonoperating`	$8.15K	USD	Annual
Rental income	`RentalIncomeNonoperating`	$6.33K	USD	Annual
Promissory note prepayment penalty	`PromissoryNotePrepaymentPenalty`	$17.86K	USD	Annual
Promissory note prepayment penalty	`PromissoryNotePrepaymentPenalty`	-	USD	Annual
Foreign currency transaction gain	`ForeignCurrencyTransactionGainLossRealized`	$1.68K	USD	Annual
Foreign currency transaction gain	`ForeignCurrencyTransactionGainLossRealized`	-	USD	Annual
Impairment of assets	`OperatingLeaseImpairmentLoss`	-	USD	Annual
Impairment of assets	`OperatingLeaseImpairmentLoss`	$28.58K	USD	Annual
Change in fair value of derivative liability	`ChangeInFairValueOfDerivativeLiability`	$2.54K	USD	Annual
Change in fair value of derivative liability	`ChangeInFairValueOfDerivativeLiability`	-	USD	Annual
Loss on settlement of convertible note	`LossOnSettlementOfConvertibleNote`	$9.82K	USD	Annual
Loss on settlement of convertible note	`LossOnSettlementOfConvertibleNote`	-	USD	Annual
Total Other Expense	`OtherNonoperatingIncomeExpense`	$-98.34K	USD	Annual
Total Other Expense	`OtherNonoperatingIncomeExpense`	$-57.27K	USD	Annual
Net Loss	`NetIncomeLoss`	$-1.25M	USD	Annual
Net Loss	`NetIncomeLoss`	$-1.10M	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTranslationAdjustment`	$48.70K	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTranslationAdjustment`	$8.67K	USD	Annual
Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-1.15M	USD	Annual
Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-1.24M	USD	Annual
Net Loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.25M	USD	Annual
Net Loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.15M	USD	Annual
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	243.91M	shares	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	238.99M	shares	Annual

Cash Flow Statement 73 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.25M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.10M	USD	Annual
Other comprehensive gain - translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	-	USD	Annual
Other comprehensive gain - translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	-	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-300.00K	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-100.20K	USD	Annual
Depreciation expenses	`Depreciation`	$16.88K	USD	Annual
Depreciation expenses	`Depreciation`	$16.32K	USD	Annual
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$15.52K	USD	Annual
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$57.61K	USD	Annual
Loss on conversion of note payable	`LossOnConversionOfNotePayable`	-	USD	Annual
Loss on conversion of note payable	`LossOnConversionOfNotePayable`	$9.82K	USD	Annual
Change in fair value of derivative liability	`ChangeInFairValueOfDerivativeLiability`	$2.54K	USD	Annual
Change in fair value of derivative liability	`ChangeInFairValueOfDerivativeLiability`	-	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	-	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$1.68K	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	-	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	$28.58K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-11.68K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$11.71K	USD	Annual
Other receivable	`IncreaseDecreaseInOtherReceivables`	$-5.20K	USD	Annual
Other receivable	`IncreaseDecreaseInOtherReceivables`	$5.42K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$128.05K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$250.88K	USD	Annual
Accrued liability	`IncreaseDecreaseInAccruedLiabilities`	$704.00	USD	Annual
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$13.61K	USD	Annual
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$21.36K	USD	Annual
Due to related party	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$261.50K	USD	Annual
Due to related party	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$335.15K	USD	Annual
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-600.80K	USD	Annual
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-192.12K	USD	Annual
Proceeds from common stock issuances	`ProceedsFromIssuanceOfCommonStock`	$880.00K	USD	Annual
Proceeds from common stock issuances	`ProceedsFromIssuanceOfCommonStock`	$93.62K	USD	Annual
Proceeds from other loans	`ProceedsFromIssuanceOfDebt`	-	USD	Annual
Proceeds from other loans	`ProceedsFromIssuanceOfDebt`	$5.63K	USD	Annual
Proceeds from related party	`ProceedsFromRelatedPartyDebt`	$312.20K	USD	Annual
Proceeds from related party	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Repayment to related party	`RepaymentsOfRelatedPartyDebt`	$489.86K	USD	Annual
Repayment to related party	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$68.22K	USD	Annual
Proceeds from short - term loans	`ProceedsFromShortTermDebt`	-	USD	Annual
Proceeds from short - term loans	`ProceedsFromShortTermDebt`	-	USD	Annual
Repayment on convertible notes payable	`RepaymentsOfConvertibleDebt`	$31.00K	USD	Annual
Repayment on convertible notes payable	`RepaymentsOfConvertibleDebt`	-	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$167.47K	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$671.34K	USD	Annual
Effect of exchange rate in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.00K	USD	Annual
Effect of exchange rate in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-49.58K	USD	Annual
Net Change in Cash	`CashPeriodIncreaseDecrease`	$67.54K	USD	Annual
Net Change in Cash	`CashPeriodIncreaseDecrease`	$-74.23K	USD	Annual
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$12.00	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$6.70K	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$12.00	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$6.70K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$4.67K	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	Annual
Debt forgiveness from related party	`DebtForgivenessFromRelatedParty`	-	USD	Annual
Debt forgiveness from related party	`DebtForgivenessFromRelatedParty`	-	USD	Annual
Issuance of shares for debt repayment	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Issuance of shares for debt repayment	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Discount on note payable credited to derivative liability	`DiscountOnNotePayableCreditedToDerivativeLiability`	$55.11K	USD	Annual
Discount on note payable credited to derivative liability	`DiscountOnNotePayableCreditedToDerivativeLiability`	-	USD	Annual
Terminal balance of derivative liability credited to additional paid-in capital	`TerminalBalanceOfDerivativeLiabilityCreditedToAdditionalPaidinCapital`	$57.65K	USD	Annual
Terminal balance of derivative liability credited to additional paid-in capital	`TerminalBalanceOfDerivativeLiabilityCreditedToAdditionalPaidinCapital`	-	USD	Annual
Note payable converted into common stock	`NotePayableConvertedIntoCommonStock`	$36.99K	USD	Annual
Note payable converted into common stock	`NotePayableConvertedIntoCommonStock`	-	USD	Annual
Debt discount on convertible notes	`DebtDiscountOnConvertibleNotes1`	-	USD	Annual
Debt discount on convertible notes	`DebtDiscountOnConvertibleNotes1`	$68.22K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-819.21K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Shares issued for cash, amount	`StockIssuedDuringPeriodValueNewIssues`	$93.62K	USD	Annual
Shares issued for cash, amount	`StockIssuedDuringPeriodValueNewIssues`	$880.00K	USD	Annual
Stock-based compensation, amount	`StockGrantedDuringPeriodValueSharebasedCompensation`	$100.20K	USD	Annual
Stock-based compensation, amount	`StockGrantedDuringPeriodValueSharebasedCompensation`	$300.00K	USD	Annual
Shares issued for conversion of note payable, amount	`ConversionOfStockAmountIssued1`	$36.99K	USD	Annual
Terminal balance of derivative liability	`TerminalBalanceOfDerivativeLiability`	-	USD	Annual
Terminal balance of derivative liability	`TerminalBalanceOfDerivativeLiability`	$57.65K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$8.67K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-48.70K	USD	Annual
Debt discount on convertible notes	`DebtDiscountOnConvertibleNotes`	$68.22K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-1.25M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-1.10M	USD	Annual
Balance, amount	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-819.21K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.67M	USD	Point-in-time

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