10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001575705-22-000546`
Period End Date	20220331
Filing Date	20220804
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	gstx_2q22_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 48 Cash Flow Statement 51 Stockholders Equity 35

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Furniture & Equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$88.56K	USD	Point-in-time
Furniture & Equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$88.56K	USD	Point-in-time
Cash	`Cash`	$3.73K	USD	Point-in-time
Cash	`Cash`	$4.20K	USD	Point-in-time
Intellectual Property at cost net of amortization	`IntellectualPropertyAtCostNetOfAmortization`	$592.38K	USD	Point-in-time
Intellectual Property at cost net of amortization	`IntellectualPropertyAtCostNetOfAmortization`	$592.38K	USD	Point-in-time
Cash	`Cash`	$147.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$19.27K	USD	Point-in-time
Debt Instrument, Unamortized Discount, Current	`DebtInstrumentUnamortizedDiscountCurrent`	$100.75K	USD	Point-in-time
Debt Instrument, Unamortized Discount, Current	`DebtInstrumentUnamortizedDiscountCurrent`	$52.70K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$18.80K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$22.52K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$23.47K	USD	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
Furniture and equipment, net of depreciation $88,560	`PropertyPlantAndEquipmentNet`	$2.25K	USD	Point-in-time
Furniture and equipment, net of depreciation $88,560	`PropertyPlantAndEquipmentNet`	$1.80K	USD	Point-in-time
Preferred Stock, Par or Stated Value Per Share	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Intellectual property at cost, net of amortization $592,385	`IntellectualPropertyAtCost`	$6.29M	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Intellectual property at cost, net of amortization $592,385	`IntellectualPropertyAtCost`	$6.78M	USD	Point-in-time
Other intangible assets at cost	`OtherFiniteLivedIntangibleAssetsGross`	$975.00	USD	Point-in-time
Other intangible assets at cost	`OtherFiniteLivedIntangibleAssetsGross`	$975.00	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
Other receivable	`AccountsAndOtherReceivablesNetCurrent`	$2.09K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total Assets	`Assets`	$6.32M	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`	246.25M	shares	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.20M	USD	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.36M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	362.82M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	246.25M	shares	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$165.90K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$154.41K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$1.19M	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$947.83K	USD	Point-in-time
Notes payable in default	`NotesPayableCurrent`	$78.70K	USD	Point-in-time
Notes payable in default	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Convertible notes payable, net of discount $52,703 and $100,747 in default	`ConvertibleNotesPayableCurrent`	$173.04K	USD	Point-in-time
Convertible notes payable, net of discount $52,703 and $100,747 in default	`ConvertibleNotesPayableCurrent`	$168.97K	USD	Point-in-time
Other loans and payables	`OtherLoansPayableCurrent`	$6.38K	USD	Point-in-time
Other loans and payables	`OtherLoansPayableCurrent`	$5.75K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.97M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.54M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.54M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.97M	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 246,248,723 shares issued and outstanding	`CommonStockValue`	$3.44K	USD	Point-in-time
Common stock: 500,000,000 shares authorized; $0.00001 par value; 362,823,733 and 246,248,723 shares issued and outstanding	`CommonStockValue`	$3.63K	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`	$-46.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-59.34M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$51.20K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$107.90K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$2.83M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$3.26M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.90M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$2.35M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$6.80M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$6.32M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	2 Qtrs
Professional Services	`ProfessionalFees`	$172.28K	USD	1 Quarter
Professional Services	`ProfessionalFees`	$4.13M	USD	2 Qtrs
Professional Services	`ProfessionalFees`	$3.55M	USD	1 Quarter
Professional Services	`ProfessionalFees`	$12.73M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$550.46K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$269.78K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$38.80K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$81.35K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$4.21M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$13.28M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$442.06K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.58M	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$442.06K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$13.28M	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$3.58M	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$4.21M	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	$2.32K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$6.59K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$4.51K	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	$11.28K	USD	2 Qtrs
Interest expense	`InterestExpense`	$15.55K	USD	1 Quarter
Interest expense	`InterestExpense`	$4.83K	USD	1 Quarter
Interest expense	`InterestExpense`	$25.43K	USD	2 Qtrs
Interest expense	`InterestExpense`	$29.83K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-13.23K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$1.76K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-14.15K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-25.32K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-13.29M	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-440.31K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-4.24M	USD	2 Qtrs
Net Comprehensive Loss	`NetComprehensiveLoss`	$-3.58M	USD	1 Quarter
Net Comprehensive Loss	`NetComprehensiveLoss`	$-487.76K	USD	1 Quarter
Net Comprehensive Loss	`NetComprehensiveLoss`	$-13.35M	USD	2 Qtrs
Net Comprehensive Loss	`NetComprehensiveLoss`	$-4.30M	USD	2 Qtrs
Basic and diluted	`BasicAndDilutedLossPerCommonShare`	$-0.01	USD	1 Quarter
Basic and diluted	`BasicAndDilutedLossPerCommonShare`	$-0.04	USD	2 Qtrs
Basic and diluted	`BasicAndDilutedLossPerCommonShare`	-	USD	1 Quarter
Basic and diluted	`BasicAndDilutedLossPerCommonShare`	$-0.02	USD	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	251.41M	shares	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	360.02M	shares	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	362.82M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	253.17M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`ProfitLoss`	$-440.31K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-3.60M	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-639.18K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-12.85M	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-13.29M	USD	2 Qtrs
Net Income (loss)	`ProfitLoss`	$-4.24M	USD	2 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$12.38M	USD	2 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$3.83M	USD	2 Qtrs
Depreciation expense	`Depreciation`	$521.00	USD	2 Qtrs
Depreciation expense	`Depreciation`	$8.99K	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$490.06K	USD	2 Qtrs
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$13.94K	USD	2 Qtrs
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$12.58K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$142.41K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$131.96K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$14.60K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$11.48K	USD	2 Qtrs
Other Receivables	`IncreaseDecreaseInOtherReceivables`	$2.09K	USD	2 Qtrs
Other Receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	2 Qtrs
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	$15.72K	USD	2 Qtrs
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$203.13K	USD	2 Qtrs
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$93.04K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-49.11K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-164.08K	USD	2 Qtrs
Due to Affiliates	`IncreaseDecreaseDueFromAffiliates`	-	USD	2 Qtrs
Due to Affiliates	`IncreaseDecreaseDueFromAffiliates`	-	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$46.92K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$115.21K	USD	2 Qtrs
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	$115.00K	USD	2 Qtrs
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	-	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$230.21K	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$46.92K	USD	2 Qtrs
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-2.65K	USD	2 Qtrs
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-66.00K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$135.00	USD	2 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$468.00	USD	2 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.73K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.20K	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`	$3.73K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$4.20K	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	`IncomeTaxesPaid`	-	USD	2 Qtrs
Taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Debt discount	`DebtDiscount`	-	USD	2 Qtrs
Debt discount	`DebtDiscount`	$43.48K	USD	2 Qtrs

Stockholders Equity 35 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$2.83M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$3.26M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.90M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$2.35M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Shares, Outstanding, Beginning Balance	`SharesOutstanding`	343.24M	shares	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`	-	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`	$30.48K	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	$405.00K	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	-	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	$12.38M	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	$3.42M	USD	1 Quarter
Stock-based compensation expense	`StockIssuedDuringPeriodSharesShareBasedCompensation`	18.39M	shares	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-47.46K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$15.31K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-9.25K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-82.64K	USD	1 Quarter
Net loss	`ProfitLoss`	$-440.31K	USD	1 Quarter
Net loss	`ProfitLoss`	$-3.60M	USD	1 Quarter
Net loss	`ProfitLoss`	$-639.18K	USD	1 Quarter
Net loss	`ProfitLoss`	$-12.85M	USD	1 Quarter
Net loss	`ProfitLoss`	$-13.29M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-4.24M	USD	2 Qtrs
Beneficial conversion discount on convertible notes payable	`DebtInstrumentConvertibleBeneficialConversionFeature`	-	USD	1 Quarter
Beneficial conversion discount on convertible notes payable	`DebtInstrumentConvertibleBeneficialConversionFeature`	$43.48K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$2.83M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$3.26M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.90M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$2.35M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Shares, Outstanding, Ending Balance	`SharesOutstanding`	343.24M	shares	Point-in-time

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