10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001640334-18-000124`
Period End Date	20161231
Filing Date	20180117
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	sqtx-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 40 Cash Flow Statement 34

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$-231.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$98.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$966.00	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.00K	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$98.00	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNet`	-	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNet`	-	USD	Point-in-time
Total assets	`Assets`	$1.00K	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total assets	`Assets`	$98.00	USD	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
Common stock, authorized shares	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$55.03K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	1.00M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	100,214.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$51.21K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$38.70K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	100,214.00	shares	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$36.04K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	1.00M	shares	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$19.64K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$17.51K	USD	Point-in-time
Short term notes payable	`NotesPayableCurrent`	$85.00K	USD	Point-in-time
Short term notes payable	`NotesPayableCurrent`	$85.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$92.00	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$92.00	USD	Point-in-time
Current portion of notes payable, net of discount $- and $71,754	`ConvertibleNotesPayableCurrent`	$70.75K	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`	$269.20K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$260.61K	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 1,002,14 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 1,002,14 shares issued and outstanding	`CommonStockValue`	$1.00K	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`	$-6.58M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-259.61K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-269.10K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.00K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$98.00	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Oil and gas sales	`OilAndGasSalesRevenue`	-	USD	1 Quarter
Oil and gas sales	`OilAndGasSalesRevenue`	-	USD	1 Quarter
Lease operating expense	`LeaseAndRentalExpense`	-	USD	1 Quarter
Lease operating expense	`LeaseAndRentalExpense`	-	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	-	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	-	USD	1 Quarter
Depreciation, depletion and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	-	USD	1 Quarter
Depreciation, depletion and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	-	USD	1 Quarter
Impairment of O&G properties	`ImpairmentOfOilAndGasProperties`	-	USD	1 Quarter
Impairment of O&G properties	`ImpairmentOfOilAndGasProperties`	-	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	-	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.72K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.23K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$4.72K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$4.23K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.23K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.72K	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	-	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	-	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$-4.28K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$-2.65K	USD	1 Quarter
Other interest costs	`OtherInterestCosts`	$-1.25K	USD	1 Quarter
Other interest costs	`OtherInterestCosts`	$-2.12K	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$47.72K	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-4.78K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$42.19K	USD	1 Quarter
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$37.96K	USD	1 Quarter
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.50K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$37.96K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-9.50K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.04	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	991,119.00	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.00M	shares	1 Quarter

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss`	$37.96K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-9.50K	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$47.72K	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$966.00	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.82K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.59K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$-3.55K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$2.65K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.25K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.12K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	-	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$410.00	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$63.00	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-248.00	USD	1 Quarter
Capital expenditures on oil and gas properties	`CapitalExpendituresOnOilAndGasProperties`	-	USD	1 Quarter
Capital expenditures on oil and gas properties	`CapitalExpendituresOnOilAndGasProperties`	-	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$12.00	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.00	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-236.00	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$63.00	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$-231.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$98.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$35.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$-231.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$5.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$98.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$35.00	USD	Point-in-time

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