10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001640334-18-000126`
Period End Date	20170331
Filing Date	20180117
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	sqtx-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 80 Cash Flow Statement 38

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`	$5.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.97K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$68.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.97K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	-	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$9.97K	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$68.00	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNet`	-	USD	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNet`	-	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total assets	`Assets`	$68.00	USD	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
Total assets	`Assets`	$9.97K	USD	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`	$59.01K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$19.98K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	1.00M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	1.00M	shares	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$30.77K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	1.00M	shares	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$41.35K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	1.00M	shares	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$21.76K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$13.29K	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`	$300.00	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`	$277.96K	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 1002,134 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 1002,134 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`	$-6.53M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.60M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-210.11K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-277.89K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$68.00	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$9.97K	USD	Point-in-time

Income Statement 80 line items

Line Item	Tag	Value	Unit	Period
Oil and gas sales	`OilAndGasSalesRevenue`	-	USD	2 Qtrs
Oil and gas sales	`OilAndGasSalesRevenue`	-	USD	1 Quarter
Oil and gas sales	`OilAndGasSalesRevenue`	-	USD	1 Quarter
Oil and gas sales	`OilAndGasSalesRevenue`	-	USD	2 Qtrs
Lease operating expense	`LeaseAndRentalExpense`	-	USD	1 Quarter
Lease operating expense	`LeaseAndRentalExpense`	-	USD	2 Qtrs
Lease operating expense	`LeaseAndRentalExpense`	-	USD	2 Qtrs
Lease operating expense	`LeaseAndRentalExpense`	-	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	-	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	-	USD	2 Qtrs
Production taxes	`ProductionTaxExpense`	-	USD	2 Qtrs
Production taxes	`ProductionTaxExpense`	-	USD	1 Quarter
Depreciation, depletion and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	-	USD	2 Qtrs
Depreciation, depletion and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	-	USD	1 Quarter
Depreciation, depletion and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	-	USD	2 Qtrs
Depreciation, depletion and amortization	`CostOfGoodsSoldDepreciationDepletionAndAmortization`	-	USD	1 Quarter
Impairment of O&G properties	`ImpairmentOfOilAndGasProperties`	-	USD	2 Qtrs
Impairment of O&G properties	`ImpairmentOfOilAndGasProperties`	-	USD	2 Qtrs
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	2 Qtrs
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	-	USD	1 Quarter
Asset retirement obligation accretion	`AssetRetirementObligationAccretionExpense`	-	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$8.73K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$20.56K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.01K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$24.80K	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$4.01K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$24.80K	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$8.73K	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$20.56K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-20.56K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.01K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.73K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-24.80K	USD	2 Qtrs
Other income	`OtherIncome`	-	USD	2 Qtrs
Other income	`OtherIncome`	-	USD	2 Qtrs
Other income	`OtherIncome`	-	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	-	USD	2 Qtrs
Interest income	`InterestAndDividendIncomeOperating`	-	USD	1 Quarter
Interest income	`InterestAndDividendIncomeOperating`	-	USD	2 Qtrs
Interest income	`InterestAndDividendIncomeOperating`	-	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$-5.31K	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$-2.85K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$-2.65K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$-7.13K	USD	2 Qtrs
Other interest costs	`OtherInterestCosts`	$-2.12K	USD	1 Quarter
Other interest costs	`OtherInterestCosts`	$-2.85K	USD	2 Qtrs
Other interest costs	`OtherInterestCosts`	$-1.60K	USD	1 Quarter
Other interest costs	`OtherInterestCosts`	$-4.25K	USD	2 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-43.38K	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-91.10K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$38.92K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$81.12K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-9.56K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-4.78K	USD	1 Quarter
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.79K	USD	1 Quarter
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-18.29K	USD	2 Qtrs
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$56.32K	USD	2 Qtrs
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$18.36K	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
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$18.36K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-18.29K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-8.79K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$56.32K	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.06	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.00M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.00M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.00M	shares	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.00M	shares	2 Qtrs

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss`	$18.36K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-18.29K	USD	2 Qtrs
Net Income (loss)	`NetIncomeLoss`	$-8.79K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$56.32K	USD	2 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-43.38K	USD	1 Quarter
Gain on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-91.10K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$39.03K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-234.00	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$-7.80K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$10.58K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$8.47K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.83K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-208.00	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$25.00	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-25.05K	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.91K	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`	-	USD	2 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$23.00	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`	$9.97K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.91K	USD	2 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.97K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$68.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.97K	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`	$68.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$9.97K	USD	Point-in-time

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