10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001640334-18-000120`
Period End Date	20160331
Filing Date	20180117
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	sqtx-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 52 Cash Flow Statement 48

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.25K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.97K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.00	USD	Point-in-time
Current portion of notes payable, net of discount	`DiscountOnNotePayableCurrentPortion`	-	USD	Point-in-time
Current portion of notes payable, net of discount	`DiscountOnNotePayableCurrentPortion`	$71.75K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	-	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.97K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total assets	`Assets`	$9.97K	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total assets	`Assets`	$5.00	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding shares	`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
Accounts payable	`AccountsPayableCurrent`	$19.98K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.22K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$30.77K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$38.57K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	979,109.00	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	1.00M	shares	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$10.46K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$13.29K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	1.00M	shares	Point-in-time
Short term notes payable	`NotesPayableCurrent`	$85.00K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	979,109.00	shares	Point-in-time
Short term notes payable	`NotesPayableCurrent`	$50.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$275.00	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$300.00	USD	Point-in-time
Current portion of notes payable, net of discount $- and $71,754	`ConvertibleNotesPayableCurrent`	$146.94K	USD	Point-in-time
Current portion of notes payable, net of discount $- and $71,754	`ConvertibleNotesPayableCurrent`	$70.75K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$266.46K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$220.09K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.00001 par value; 100,000,000 and 50,000,000 shares authorized; 1,002,134 and 979,109 shares issued and outstanding	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock, $0.00001 par value; 100,000,000 and 50,000,000 shares authorized; 1,002,134 and 979,109 shares issued and outstanding	`CommonStockValue`	$979.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.32M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$6.32M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.53M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-210.11K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-266.46K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$5.00	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$9.97K	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	-	USD	1 Quarter
Sales	`SalesRevenueNet`	-	USD	2 Qtrs
Sales	`SalesRevenueNet`	-	USD	2 Qtrs
Sales	`SalesRevenueNet`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$24.80K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$11.01K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$21.11K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$98.03K	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$21.11K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$11.01K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$98.03K	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$24.80K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-24.80K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-98.03K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-21.11K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-11.01K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$2.85K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$18.65K	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$8.38K	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$5.51K	USD	1 Quarter
Other interest costs	`OtherInterestCosts`	$2.15K	USD	1 Quarter
Other interest costs	`OtherInterestCosts`	$1.60K	USD	2 Qtrs
Other interest costs	`OtherInterestCosts`	-	USD	2 Qtrs
Other interest costs	`OtherInterestCosts`	-	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$91.10K	USD	2 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$2.57M	USD	2 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$43.38K	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$38.38K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-5.51K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$2.55M	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$80.57K	USD	2 Qtrs
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$17.81K	USD	1 Quarter
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.45M	USD	2 Qtrs
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$56.32K	USD	2 Qtrs
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.50K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$2.45M	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$17.81K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-16.52K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$56.32K	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.06	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$2.52	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	973,139.00	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	996,650.00	shares	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	973,139.00	shares	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.00M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss`	$2.45M	USD	2 Qtrs
Net Income (loss)	`NetIncomeLoss`	$17.81K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-16.52K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$56.32K	USD	2 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$4.11K	USD	2 Qtrs
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	-	USD	2 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$91.10K	USD	2 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$2.57M	USD	2 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$43.38K	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	-	USD	2 Qtrs
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	-	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$3.52K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$12.50K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-234.00	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$55.95K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$99.83K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$-7.80K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.83K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	-	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$25.00	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$8.33K	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-24.05K	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-39.22K	USD	2 Qtrs
Capital expenditures on oil and gas properties	`CapitalExpendituresOnOilAndGasProperties`	-	USD	2 Qtrs
Capital expenditures on oil and gas properties	`CapitalExpendituresOnOilAndGasProperties`	-	USD	2 Qtrs
Net Cash from Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net Cash from Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$23.00	USD	2 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Issuance of short term note payable	`ProceedsFromNotesPayable`	$35.00K	USD	2 Qtrs
Issuance of short term note payable	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$35.02K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-39.22K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.97K	USD	2 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.25K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.97K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$39.25K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$5.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$9.97K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$32.00	USD	Point-in-time
Issuance of shares for settlement of debt	`IssuanceOfSharesForSettlementOfDebt`	-	USD	2 Qtrs
Issuance of shares for settlement of debt	`IssuanceOfSharesForSettlementOfDebt`	$797.56K	USD	2 Qtrs

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