10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001575705-21-000599`
Period End Date	20210630
Filing Date	20210902
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	gstx_3q21_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 52 Cash Flow Statement 55 Stockholders Equity 45

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Furniture & Equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$88.25K	USD	Point-in-time
Furniture & Equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$71.80K	USD	Point-in-time
Debt Instrument, Unamortized Discount, Current	`DebtInstrumentUnamortizedDiscountCurrent`	-	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
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash	`Cash`	$1.17K	USD	Point-in-time
Cash	`Cash`	$12.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	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`	$15.58K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$16.75K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$12.00	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Furniture & Equipment, net of depreciation, $88,250 and $71,803	`PropertyPlantAndEquipmentNet`	$12.26K	USD	Point-in-time
Furniture & Equipment, net of depreciation, $88,250 and $71,803	`PropertyPlantAndEquipmentNet`	$1.04K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total Other Assets	`OtherAssets`	$1.04K	USD	Point-in-time
Total Other Assets	`OtherAssets`	$12.26K	USD	Point-in-time
Total Assets	`Assets`	$12.27K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Assets	`Assets`	$17.79K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	256.57M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	246.25M	shares	Point-in-time
Common stock,outstanding	`CommonStockSharesOutstanding`	246.25M	shares	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$653.48K	USD	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$845.00K	USD	Point-in-time
Common stock,outstanding	`CommonStockSharesOutstanding`	256.57M	shares	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$132.10K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$147.76K	USD	Point-in-time
Notes payable-in default	`NotesPayableinDefault`	$78.80K	USD	Point-in-time
Notes payable-in default	`NotesPayableinDefault`	$60.00K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$863.71K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$717.08K	USD	Point-in-time
Convertible notes payable-, net of discount $0 and $0, $52,703 in default	`ConvertibleNotesPayableCurrent`	$139.56K	USD	Point-in-time
Convertible notes payable-, net of discount $0 and $0, $52,703 in default	`ConvertibleNotesPayableCurrent`	$116.26K	USD	Point-in-time
Other loans	`OtherLoansPayableCurrent`	$5.75K	USD	Point-in-time
Other loans	`OtherLoansPayableCurrent`	$5.63K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.68M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.08M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.68M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.08M	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 and 500,000,000 shares authorized; 256,571,765 and 246,248,723 shares issued and outstanding	`CommonStockValue`	$2.57K	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 and 500,000,000 shares authorized; 256,571,765 and 246,248,723 shares issued and outstanding	`CommonStockValue`	$2.46K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$14.16M	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`	$768.00	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.23M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquityBeforeTreasuryStock`	$-1.67M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquityBeforeTreasuryStock`	$-2.06M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$17.79K	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$12.27K	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	3 Qtrs
Professional Services	`ProfessionalFees`	$625.08K	USD	1 Quarter
Professional Services	`ProfessionalFees`	$426.11K	USD	1 Quarter
Professional Services	`ProfessionalFees`	$739.84K	USD	3 Qtrs
Professional Services	`ProfessionalFees`	$4.76M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$35.57K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$116.92K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$38.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$123.41K	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$4.87M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$464.11K	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$863.24K	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$660.64K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-464.11K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-863.24K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.87M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-660.64K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$11.16K	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$6.00K	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$6.66K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$1.97K	USD	1 Quarter
Interest expense	`InterestExpense`	$13.35K	USD	1 Quarter
Interest expense	`InterestExpense`	$129.09K	USD	3 Qtrs
Interest expense	`InterestExpense`	$99.27K	USD	1 Quarter
Interest expense	`InterestExpense`	$35.79K	USD	3 Qtrs
Total other income (expense)	`TotalOtherIncomeExpense`	$-29.80K	USD	3 Qtrs
Total other income (expense)	`TotalOtherIncomeExpense`	$-11.38K	USD	1 Quarter
Total other income (expense)	`TotalOtherIncomeExpense`	$-92.61K	USD	1 Quarter
Total other income (expense)	`TotalOtherIncomeExpense`	$-117.93K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-4.99M	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-753.25K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-475.49K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-893.04K	USD	3 Qtrs
Comprehensive income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-74.82K	USD	1 Quarter
Comprehensive income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$51.25K	USD	3 Qtrs
Comprehensive income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$16.08K	USD	1 Quarter
Comprehensive income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-19.41K	USD	3 Qtrs
Net Comprehensive Income (Loss)	`NetComprehensiveLoss`	$-4.94M	USD	3 Qtrs
Net Comprehensive Income (Loss)	`NetComprehensiveLoss`	$-912.46K	USD	3 Qtrs
Net Comprehensive Income (Loss)	`NetComprehensiveLoss`	$-550.30K	USD	1 Quarter
Net Comprehensive Income (Loss)	`NetComprehensiveLoss`	$-737.18K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	243.14M	shares	3 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	255.84M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	252.95M	shares	3 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	244.15M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss`	$-4.99M	USD	3 Qtrs
Net Income (loss)	`NetIncomeLoss`	$-753.25K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-475.49K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-893.04K	USD	3 Qtrs
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-300.00K	USD	3 Qtrs
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-4.31M	USD	3 Qtrs
Depreciation expense	`Depreciation`	$12.40K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$11.99K	USD	3 Qtrs
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$19.41K	USD	3 Qtrs
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$106.67K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$191.53K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$206.23K	USD	3 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$21.71K	USD	3 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$16.40K	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-5.20K	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	-	USD	3 Qtrs
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	$15.58K	USD	3 Qtrs
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	$806.00	USD	3 Qtrs
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$120.84K	USD	3 Qtrs
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$146.63K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-213.76K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-218.41K	USD	3 Qtrs
Cash paid for purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$381.00	USD	3 Qtrs
Cash paid for purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-381.00	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Due to Affiliates	`IncreaseDecreaseInDueToAffiliatesCurrent`	-	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$138.09K	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$86.47K	USD	3 Qtrs
Repayments to related party	`RepaymentsToRelatedParty`	-	USD	3 Qtrs
Repayments to related party	`RepaymentsToRelatedParty`	-	USD	3 Qtrs
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	$68.22K	USD	3 Qtrs
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	$133.78K	USD	3 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$271.88K	USD	3 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$154.69K	USD	3 Qtrs
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-14.41K	USD	3 Qtrs
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-51.93K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.16K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-73.49K	USD	3 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$747.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.17K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$12.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$747.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.17K	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	3 Qtrs
Interest paid	`InterestPaidNet`	-	USD	3 Qtrs
Taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Debt discount on convertible notes	`DebtDiscountOnConvertibleNotes`	$68.22K	USD	3 Qtrs
Debt discount on convertible notes	`DebtDiscountOnConvertibleNotes`	$77.36K	USD	3 Qtrs
Conversion of loan principal & accrued interest into shares	`ConversionOfLoanPrincipalIntoShares`	-	USD	3 Qtrs
Conversion of loan principal & accrued interest into shares	`ConversionOfLoanPrincipalIntoShares`	$127.05K	USD	3 Qtrs

Stockholders Equity 45 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.21M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.90M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.44M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.12M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-2.06M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Shares issued in connection with the sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$17.68K	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`	$22.88K	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`	$53.00K	USD	1 Quarter
Shares issued in connection with the sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$15.78K	USD	1 Quarter
Shares issued in connection with the sale of common stock, shares	`StockIssuedDuringPeriodSharesNewIssues`	1.00M	shares	Point-in-time
Debt discount on convertible notes	`DebtDiscountConvertibleNotes`	$68.22K	USD	1 Quarter
Debt discount on convertible notes	`DebtDiscountConvertibleNotes`	$68.22K	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	$3.42M	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	$300.00K	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	$405.00K	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	$481.00K	USD	1 Quarter
Stock-based compensation expense, shares	`StockIssuedDuringPeriodSharesShareBasedCompensation`	500,000.00	shares	Point-in-time
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-22.10K	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`	$-74.82K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$16.08K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$15.31K	USD	1 Quarter
Net loss	`ProfitLoss`	$-475.49K	USD	1 Quarter
Net loss	`ProfitLoss`	$-753.25K	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.60M	USD	1 Quarter
Net loss	`ProfitLoss`	$-240.65K	USD	1 Quarter
Net loss	`ProfitLoss`	$-176.90K	USD	1 Quarter
Net loss	`ProfitLoss`	$-639.18K	USD	1 Quarter
Beneficial conversion discount on convertible notes payable	`BeneficialConversionDiscount1`	$33.88K	USD	1 Quarter
Beneficial conversion discount on convertible notes payable	`BeneficialConversionDiscount1`	$43.48K	USD	1 Quarter
Shares issued in connection with conversion of notes payable	`ConversionOfStockAmountIssued1`	$127.05K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.21M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.90M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.44M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.12M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-2.06M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.99M	USD	Point-in-time

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