10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001575705-22-000524`
Period End Date	20211231
Filing Date	20220729
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	gstx_1q22_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 24 Cash Flow Statement 47 Stockholders Equity 17

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$85.63K	USD	Point-in-time
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$85.63K	USD	Point-in-time
Cash	`Cash`	$3.73K	USD	Point-in-time
Intellectual Property at cost net of amortization	`IntellectualPropertyAtCostNetOfAmortization`	$350.05K	USD	Point-in-time
Intellectual Property at cost net of amortization	`IntellectualPropertyAtCostNetOfAmortization`	$350.05K	USD	Point-in-time
Cash	`Cash`	$4.79K	USD	Point-in-time
Debt Discount	`DebtInstrumentUnamortizedDiscountCurrent`	$52.70K	USD	Point-in-time
Debt Discount	`DebtInstrumentUnamortizedDiscountCurrent`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$18.80K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$18.88K	USD	Point-in-time
Other receivable	`AccountsAndOtherReceivablesNetCurrent`	$2.09K	USD	Point-in-time
Other receivable	`AccountsAndOtherReceivablesNetCurrent`	-	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
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$25.77K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$22.52K	USD	Point-in-time
Furniture and equipment, net of depreciation $85,626	`PropertyPlantAndEquipmentNet`	$2.00K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Furniture and equipment, net of depreciation $85,626	`PropertyPlantAndEquipmentNet`	$2.25K	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
Intellectual property at cost, net of amortization 350,046	`IntellectualPropertyAtCost`	$6.78M	USD	Point-in-time
Intellectual property at cost, net of amortization 350,046	`IntellectualPropertyAtCost`	$6.53M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Other intangible assets at cost	`OtherFiniteLivedIntangibleAssetsGross`	$975.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Other intangible assets at cost	`OtherFiniteLivedIntangibleAssetsGross`	$975.00	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total Assets	`Assets`	$6.56M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total Assets	`Assets`	$6.80M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	362.82M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	346.25M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	362.82M	shares	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.20M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	346.25M	shares	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.27M	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$154.41K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$161.06K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$1.04M	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$947.83K	USD	Point-in-time
Notes payable in default	`NotesPayableCurrent`	$78.14K	USD	Point-in-time
Notes payable in default	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Convertible notes payable, net of discount $0 and $52,703 and $100,747 in default	`ConvertibleNotesPayableCurrent`	$168.97K	USD	Point-in-time
Convertible notes payable, net of discount $0 and $52,703 and $100,747 in default	`ConvertibleNotesPayableCurrent`	$173.04K	USD	Point-in-time
Other loans and payables	`OtherLoansPayableCurrent`	$6.38K	USD	Point-in-time
Other loans and payables	`OtherLoansPayableCurrent`	$5.68K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.73M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.54M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.73M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.54M	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; 362,823,733 and 346,248,723 shares issued and outstanding	`CommonStockValue`	$3.63K	USD	Point-in-time
Common stock: 500,000,000 shares authorized; $0.00001 par value; 362,823,733 and 346,248,723 shares issued and outstanding	`CommonStockValue`	$3.44K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$62.43M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$49.92M	USD	Point-in-time
Stock Receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	$720.00K	USD	Point-in-time
Stock Receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	$795.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-58.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-46.05M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-98.66K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-107.90K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$3.26M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$2.83M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.90M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$6.56M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$6.80M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Professional Services	`ProfessionalFees`	$584.55K	USD	1 Quarter
Professional Services	`ProfessionalFees`	$12.55M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$42.55K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$280.67K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$627.10K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.83M	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-627.10K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-12.83M	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$2.19K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$4.68K	USD	1 Quarter
Interest expense	`InterestExpense`	$14.28K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.59K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-12.09K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-15.91K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$12.85M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$639.18K	USD	1 Quarter
Net Comprehensive Loss	`NetComprehensiveLoss`	$-721.82K	USD	1 Quarter
Net Comprehensive Loss	`NetComprehensiveLoss`	$-12.86M	USD	1 Quarter
Basic and diluted	`BasicAndDilutedLossPerCommonShare`	-	USD	1 Quarter
Basic and diluted	`BasicAndDilutedLossPerCommonShare`	$-0.04	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	249.68M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	357.28M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`ProfitLoss`	$-12.85M	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-639.18K	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$12.38M	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$405.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$264.00	USD	1 Quarter
Depreciation expense	`Depreciation`	$4.42K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$247.72K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$13.94K	USD	1 Quarter
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$5.15K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$69.78K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$110.00K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$9.18K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$6.65K	USD	1 Quarter
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	$-13.25K	USD	1 Quarter
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Other receivable	`IncreaseDecreaseInOtherReceivables`	$-2.09K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$5.45K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$87.05K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-44.95K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-113.23K	USD	1 Quarter
Due to Affiliates	`IncreaseDecreaseDueFromAffiliates`	-	USD	1 Quarter
Due to Affiliates	`IncreaseDecreaseDueFromAffiliates`	-	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$84.74K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$46.92K	USD	1 Quarter
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	-	USD	1 Quarter
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	$114.99K	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$46.92K	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$199.73K	USD	1 Quarter
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-911.00	USD	1 Quarter
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-83.24K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.06K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.25K	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.73K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.27K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.79K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$3.73K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$3.27K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$12.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$4.79K	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Debt discount	`DebtDiscount`	$68.22K	USD	1 Quarter
Debt discount	`DebtDiscount`	-	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$3.26M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$2.83M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.90M	USD	Point-in-time
Shares issued in connection with the sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$46.92K	USD	1 Quarter
Shares issued in connection with the sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$84.74K	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	$405.00K	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	$12.38M	USD	1 Quarter
Stock-based compensation expense	`StockIssuedDuringPeriodSharesShareBasedCompensation`	3.10M	shares	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-82.64K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-9.25K	USD	1 Quarter
Net loss	`ProfitLoss`	$-12.85M	USD	1 Quarter
Net loss	`ProfitLoss`	$-639.18K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$3.26M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$2.83M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.90M	USD	Point-in-time

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