10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001575705-21-000139`
Period End Date	20201231
Filing Date	20210323
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	gstx-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 26 Cash Flow Statement 48 Stockholders Equity 16

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`	$3.27K	USD	Point-in-time
Cash	`Cash`	$39.17K	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash	`Cash`	$12.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$13.25K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.08M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	246.25M	shares	Point-in-time
Other receivable	`OtherReceivables`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	246.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.08M	shares	Point-in-time
Other receivable	`OtherReceivables`	-	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 authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$16.51K	USD	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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Furniture and equipment, net of depreciation $75,434 and $71,803	`PropertyPlantAndEquipmentNet`	$8.63K	USD	Point-in-time
Furniture and equipment, net of depreciation $75,434 and $71,803	`PropertyPlantAndEquipmentNet`	$12.26K	USD	Point-in-time
Mineral rights	`MineralRights`	-	USD	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
Total Assets	`Assets`	$25.14K	USD	Point-in-time
Total Assets	`Assets`	$12.27K	USD	Point-in-time
Furniture & Equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$75.43K	USD	Point-in-time
Furniture & Equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$71.80K	USD	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$763.48K	USD	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$653.48K	USD	Point-in-time
Discount	`DebtInstrumentUnamortizedDiscountCurrent`	$53.55K	USD	Point-in-time
Discount	`DebtInstrumentUnamortizedDiscountCurrent`	$52.70K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$132.10K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$141.28K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$722.52K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$717.08K	USD	Point-in-time
Notes payable - in default	`NotesPayableInDefault`	$60.00K	USD	Point-in-time
Notes payable - in default	`NotesPayableInDefault`	$60.00K	USD	Point-in-time
Convertible notes payable, net of discount $53,552 and $52,703, $100,747 in default	`ConvertibleNotesPayableCurrent`	$236.41K	USD	Point-in-time
Convertible notes payable, net of discount $53,552 and $52,703, $100,747 in default	`ConvertibleNotesPayableCurrent`	$116.26K	USD	Point-in-time
Other loans	`OtherLoansPayableCurrent`	$5.81K	USD	Point-in-time
Other loans	`OtherLoansPayableCurrent`	$5.63K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.93M	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`	$1.93M	USD	Point-in-time
Common stock: 500,000,000 shares authorized; $0.00001 par value; 250,798,723 and 246,248,723 shares issued and outstanding	`CommonStockValue`	$2.51K	USD	Point-in-time
Common stock: 500,000,000 shares authorized; $0.00001 par value; 250,798,723 and 246,248,723 shares issued and outstanding	`CommonStockValue`	$2.46K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.24M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-30.62K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$52.02K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.90M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.12M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$25.14K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$12.27K	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$584.55K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$179.49K	USD	1 Quarter
General and administration	`GeneralAndAdministrativeExpense`	$55.85K	USD	1 Quarter
General and administration	`GeneralAndAdministrativeExpense`	$42.55K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$235.34K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$627.10K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-235.34K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-627.10K	USD	1 Quarter
Other income	`OtherIncome`	$2.19K	USD	1 Quarter
Other income	`OtherIncome`	$2.05K	USD	1 Quarter
Interest expense	`InterestExpense`	$7.37K	USD	1 Quarter
Interest expense	`InterestExpense`	$14.28K	USD	1 Quarter
Total Other income (expense)	`OtherNonoperatingIncomeExpense`	$-12.09K	USD	1 Quarter
Total Other income (expense)	`OtherNonoperatingIncomeExpense`	$-5.32K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-639.18K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-240.65K	USD	1 Quarter
Othe Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-82.64K	USD	1 Quarter
Othe Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-21.10K	USD	1 Quarter
Net Comprehensive Loss	`NetComprehensiveLoss`	$-261.75K	USD	1 Quarter
Net Comprehensive Loss	`NetComprehensiveLoss`	$-721.82K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	242.57M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	249.68M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss`	$-639.18K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-240.65K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-405.00K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	1 Quarter
Depreciation expenses	`Depreciation`	$4.13K	USD	1 Quarter
Depreciation expenses	`Depreciation`	$4.42K	USD	1 Quarter
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$5.15K	USD	1 Quarter
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$2.43K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$110.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$59.66K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$9.18K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$4.94K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	-	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	-	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-198.00	USD	1 Quarter
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	$921.00	USD	1 Quarter
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	$13.25K	USD	1 Quarter
Due to related party	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$5.45K	USD	1 Quarter
Due to related party	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$51.24K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-119.36K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-113.23K	USD	1 Quarter
Due to Affiliates	`IncreaseDecreaseInDueToAffiliatesCurrent`	-	USD	1 Quarter
Due to Affiliates	`IncreaseDecreaseInDueToAffiliatesCurrent`	-	USD	1 Quarter
Proceeds from common stock issuances	`ProceedsFromIssuanceOfCommonStock`	$53.00K	USD	1 Quarter
Proceeds from common stock issuances	`ProceedsFromIssuanceOfCommonStock`	$84.74K	USD	1 Quarter
Repayments to related party	`RepaymentsToRelatedParty`	-	USD	1 Quarter
Repayments to related party	`RepaymentsToRelatedParty`	$-36.93K	USD	1 Quarter
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	$68.22K	USD	1 Quarter
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	$114.99K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$199.73K	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$84.29K	USD	1 Quarter
Effect of exchange rate in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-83.24K	USD	1 Quarter
Effect of exchange rate in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	1 Quarter
Net change in cash and cash equivalents	`CashPeriodIncreaseDecrease`	$3.25K	USD	1 Quarter
Net change in cash and cash equivalents	`CashPeriodIncreaseDecrease`	$-35.08K	USD	1 Quarter
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$39.17K	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$12.00	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$39.17K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$12.00	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for taxes	`IncreaseDecreaseInAccruedTaxesPayable`	-	USD	1 Quarter
Cash paid for taxes	`IncreaseDecreaseInAccruedTaxesPayable`	-	USD	1 Quarter
Debt discount	`DebtDiscount1`	$68.22K	USD	1 Quarter
Debt discount	`DebtDiscount1`	$68.22K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-1.90M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.12M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Shares issued in connection with the sale of common stock, amount	`StockIssuedDuringPeriodValueNewIssues`	$53.00K	USD	1 Quarter
Shares issued in connection with the sale of common stock, amount	`StockIssuedDuringPeriodValueNewIssues`	$84.74K	USD	1 Quarter
Stock-based compensation, amount	`StockGrantedDuringPeriodValueSharebasedCompensation`	$405.00K	USD	1 Quarter
Debt discount	`DebtDiscount`	$68.22K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-21.10K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-82.64K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-639.18K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-240.65K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$-1.90M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.12M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-982.25K	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.