10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001575705-21-000323`
Period End Date	20210331
Filing Date	20210527
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	gstx_2q21_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 50 Cash Flow Statement 55 Stockholders Equity 38

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Furniture & Equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$8.99K	USD	Point-in-time
Furniture & Equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$71.80K	USD	Point-in-time
Debt Instrument, Unamortized Discount, Current	`DebtInstrumentUnamortizedDiscountCurrent`	$86.38K	USD	Point-in-time
Debt Instrument, Unamortized Discount, Current	`DebtInstrumentUnamortizedDiscountCurrent`	$52.70K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash	`Cash`	$12.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash	`Cash`	$147.00	USD	Point-in-time
Preferred shares, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred shares, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$15.72K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$12.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$15.87K	USD	Point-in-time
Furniture & Equipment, net of depreciation, $8,986 and $71,803	`PropertyPlantAndEquipmentNet`	$12.26K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Furniture & Equipment, net of depreciation, $8,986 and $71,803	`PropertyPlantAndEquipmentNet`	$4.02K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total Other Assets	`OtherAssets`	$4.02K	USD	Point-in-time
Total Other Assets	`OtherAssets`	$12.26K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total Assets	`Assets`	$12.27K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Assets	`Assets`	$19.89K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	254.49M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	246.25M	shares	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$785.43K	USD	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$653.48K	USD	Point-in-time
Common stock,outstanding	`CommonStockSharesOutstanding`	254.49M	shares	Point-in-time
Common stock,outstanding	`CommonStockSharesOutstanding`	246.25M	shares	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$132.10K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$146.70K	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
Due to related parties	`DueToRelatedPartiesCurrent`	$810.12K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$717.08K	USD	Point-in-time
Convertible notes payable-, net of discount $86,381and $52,703 in default	`ConvertibleNotesPayableCurrent`	$202.29K	USD	Point-in-time
Convertible notes payable-, net of discount $86,381and $52,703 in default	`ConvertibleNotesPayableCurrent`	$116.26K	USD	Point-in-time
Other loans	`OtherLoansPayableCurrent`	$5.78K	USD	Point-in-time
Other loans	`OtherLoansPayableCurrent`	$5.63K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.01M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.68M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.01M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.68M	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 and 500,000,000 shares authorized; 254,487,319 and 246,248,723 shares issued and outstanding	`CommonStockValue`	$2.55K	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 and 500,000,000 shares authorized; 254,487,319 and 246,248,723 shares issued and outstanding	`CommonStockValue`	$2.46K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$13.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.51M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$52.02K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-15.31K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.24M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquityBeforeTreasuryStock`	$-1.99M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquityBeforeTreasuryStock`	$-1.67M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$12.27K	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$19.89K	USD	Point-in-time

Income Statement 50 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`	$134.24K	USD	1 Quarter
Professional Services	`ProfessionalFees`	$3.55M	USD	1 Quarter
Professional Services	`ProfessionalFees`	$4.13M	USD	2 Qtrs
Professional Services	`ProfessionalFees`	$313.72K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$29.56K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$81.35K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$38.80K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$85.41K	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$3.58M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$163.80K	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$399.13K	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$4.21M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-163.80K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.58M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-399.13K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.21M	USD	2 Qtrs
Interest expense	`InterestExpense`	$15.08K	USD	1 Quarter
Interest expense	`InterestExpense`	$22.45K	USD	2 Qtrs
Interest expense	`InterestExpense`	$15.55K	USD	1 Quarter
Interest expense	`InterestExpense`	$29.83K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-13.23K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-18.42K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-13.10K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-25.32K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-417.55K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-639.18K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-176.90K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-240.65K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-4.24M	USD	2 Qtrs
Comprehensive income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$55.40K	USD	2 Qtrs
Comprehensive income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-67.33K	USD	2 Qtrs
Comprehensive income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$15.31K	USD	1 Quarter
Comprehensive income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$76.50K	USD	1 Quarter
Net Comprehensive Income (Loss)	`NetComprehensiveLoss`	$-4.30M	USD	2 Qtrs
Net Comprehensive Income (Loss)	`NetComprehensiveLoss`	$-3.58M	USD	1 Quarter
Net Comprehensive Income (Loss)	`NetComprehensiveLoss`	$-362.15K	USD	2 Qtrs
Net Comprehensive Income (Loss)	`NetComprehensiveLoss`	$-100.39K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	242.95M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	253.17M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	242.63M	shares	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	251.41M	shares	2 Qtrs

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss`	$-417.55K	USD	2 Qtrs
Net Income (loss)	`NetIncomeLoss`	$-639.18K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-176.90K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-240.65K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-4.24M	USD	2 Qtrs
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	2 Qtrs
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-3.83M	USD	2 Qtrs
Depreciation expense	`Depreciation`	$8.07K	USD	2 Qtrs
Depreciation expense	`Depreciation`	$8.99K	USD	2 Qtrs
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$10.92K	USD	2 Qtrs
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$12.58K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$131.96K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$127.12K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$14.60K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$11.46K	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$442.00	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	$15.72K	USD	2 Qtrs
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	$256.00	USD	2 Qtrs
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$93.04K	USD	2 Qtrs
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$112.70K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-164.08K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-147.09K	USD	2 Qtrs
Due to Affiliates	`IncreaseDecreaseInDueToAffiliatesCurrent`	-	USD	2 Qtrs
Due to Affiliates	`IncreaseDecreaseInDueToAffiliatesCurrent`	-	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$115.21K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$68.79K	USD	2 Qtrs
Repayments to related party	`RepaymentsToRelatedParty`	-	USD	2 Qtrs
Repayments to related party	`RepaymentsToRelatedParty`	$-53.82K	USD	2 Qtrs
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	$68.22K	USD	2 Qtrs
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	$115.00K	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$230.21K	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$83.19K	USD	2 Qtrs
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-66.00K	USD	2 Qtrs
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-8.45K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashPeriodIncreaseDecrease`	$135.00	USD	2 Qtrs
Net change in cash and cash equivalents	`CashPeriodIncreaseDecrease`	$-72.36K	USD	2 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.89K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$147.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$12.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.89K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$147.00	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Taxes	`IncreaseDecreaseInAccruedTaxesPayable`	-	USD	2 Qtrs
Taxes	`IncreaseDecreaseInAccruedTaxesPayable`	-	USD	2 Qtrs
Debt discount on convertible notes	`DebtDiscountOnConvertibleNotes`	$43.48K	USD	2 Qtrs
Debt discount on convertible notes	`DebtDiscountOnConvertibleNotes`	-	USD	1 Quarter
Debt discount on convertible notes	`DebtDiscountOnConvertibleNotes`	$68.22K	USD	2 Qtrs
Conversion of loan principal into shares	`ConversionOfLoanPrincipalIntoShares`	-	USD	2 Qtrs
Conversion of loan principal into shares	`ConversionOfLoanPrincipalIntoShares`	-	USD	2 Qtrs

Stockholders Equity 38 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-1.12M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.90M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.21M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Common Stock, Shares, Outstanding, Beginning Balance	`CommonStockSharesOutstanding`	254.49M	shares	Point-in-time
Common Stock, Shares, Outstanding, Beginning Balance	`CommonStockSharesOutstanding`	246.25M	shares	Point-in-time
Shares issued in connection with the sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$53.00K	USD	1 Quarter
Shares issued in connection with the sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$30.48K	USD	1 Quarter
Shares issued in connection with the sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$84.74K	USD	1 Quarter
Shares issued in connection with the sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$15.78K	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	-	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	$405.00K	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	$3.42M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-21.10K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$76.50K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-82.64K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$15.31K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-417.55K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-639.18K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-176.90K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-240.65K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-4.24M	USD	2 Qtrs
Common Stock, Shares, Outstanding, Ending Balance	`CommonStockSharesOutstanding`	254.49M	shares	Point-in-time
Common Stock, Shares, Outstanding, Ending Balance	`CommonStockSharesOutstanding`	246.25M	shares	Point-in-time
Beneficial conversion discount on convertible notes payable	`BeneficialConversionDiscount1`	$43.48K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-1.12M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.90M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.21M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Debt Discount on Convertible Notes	`DebtDiscountConvertibleNotes`	$68.22K	USD	1 Quarter
Debt Discount on Convertible Notes	`DebtDiscountOnConvertibleNotes`	$43.48K	USD	2 Qtrs
Debt Discount on Convertible Notes	`DebtDiscountOnConvertibleNotes`	-	USD	1 Quarter
Debt Discount on Convertible Notes	`DebtDiscountOnConvertibleNotes`	$68.22K	USD	2 Qtrs

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