10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001640334-18-001069`
Period End Date	20180331
Filing Date	20180522
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	sqti-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 56 Cash Flow Statement 46 Stockholders Equity 12

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$68.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.74K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.76K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Due from affiliate	`DueFromAffiliateCurrent`	$26.89K	USD	Point-in-time
Due from affiliate	`DueFromAffiliateCurrent`	$28.67K	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$32.43K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$37.63K	USD	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
Furniture & Equipment	`PropertyPlantAndEquipmentNet`	$92.65K	USD	Point-in-time
Furniture & Equipment	`PropertyPlantAndEquipmentNet`	$59.28K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Quartz Deposits	`DepositAssets`	$30.00K	USD	Point-in-time
Quartz Deposits	`DepositAssets`	$30.57K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	234.45M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	224.43M	shares	Point-in-time
Total Assets	`Assets`	$160.28K	USD	Point-in-time
Total Assets	`Assets`	$122.28K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	224.43M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	234.45M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$364.01K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$516.29K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$50.37K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$45.06K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$26.01K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$30.46K	USD	Point-in-time
Short term notes payable	`NotesPayableCurrent`	$85.00K	USD	Point-in-time
Short term notes payable	`NotesPayableCurrent`	$90.00K	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$92.00	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$92.00	USD	Point-in-time
Due to Affiliates	`DueToAffiliateCurrent`	$439.45K	USD	Point-in-time
Due to Affiliates	`DueToAffiliateCurrent`	$418.75K	USD	Point-in-time
Current portion of notes payable	`ConvertibleNotesPayableCurrent`	$70.75K	USD	Point-in-time
Current portion of notes payable	`ConvertibleNotesPayableCurrent`	$70.75K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.20M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.01M	USD	Point-in-time
Preferred stock, $0.00001 par value; 10,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.00001 par value; 10,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 and 50,000,000 shares authorized; 225,642,896 and 224,426,229 shares issued and outstanding	`CommonStockValue`	$2.25K	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 and 50,000,000 shares authorized; 225,642,896 and 224,426,229 shares issued and outstanding	`CommonStockValue`	$2.35K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.89M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.74M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-849.39K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.08M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$122.28K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$160.28K	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	2 Qtrs
Professional Services	`ProfessionalFees`	-	USD	2 Qtrs
Professional Services	`ProfessionalFees`	-	USD	1 Quarter
Professional Services	`ProfessionalFees`	$1.52M	USD	2 Qtrs
Professional Services	`ProfessionalFees`	$1.37M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.73K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$73.56K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$167.17K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.01K	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$1.69M	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$8.73K	USD	2 Qtrs
Total costs and expenses	`OperatingExpenses`	$1.44M	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$4.01K	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`	$-1.69M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.44M	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	-	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	-	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	-	USD	2 Qtrs
Interest income	`InterestAndOtherIncome`	$1.00	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$5.31K	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$2.65K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$2.65K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$5.31K	USD	2 Qtrs
Other interest costs	`OtherInterestCosts`	$2.12K	USD	1 Quarter
Other interest costs	`OtherInterestCosts`	$4.25K	USD	2 Qtrs
Other interest costs	`OtherInterestCosts`	$4.25K	USD	2 Qtrs
Other interest costs	`OtherInterestCosts`	$2.12K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-4.78K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-4.78K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-9.56K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-9.56K	USD	2 Qtrs
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.70M	USD	2 Qtrs
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-18.29K	USD	2 Qtrs
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.79K	USD	1 Quarter
Net Income (Loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.44M	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`	$-1.44M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-8.79K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-18.29K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-1.70M	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
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	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	224.68M	shares	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	224.68M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.00M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-8.79K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-18.29K	USD	2 Qtrs
Net Income (loss)	`NetIncomeLoss`	$-1.70M	USD	2 Qtrs
Depreciation	`Depreciation`	-	USD	2 Qtrs
Depreciation	`Depreciation`	$33.37K	USD	2 Qtrs
Stock issued for service	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	2 Qtrs
Stock issued for service	`StockIssuedDuringPeriodValueIssuedForServices`	$1.29M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$966.00	USD	2 Qtrs
Quartz assets	`QuartzAssets`	$-565.00	USD	2 Qtrs
Quartz assets	`QuartzAssets`	-	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.80K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$152.28K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$5.31K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$5.31K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$4.25K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$4.45K	USD	2 Qtrs
Related Party payables	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$-3.00K	USD	2 Qtrs
Related Party payables	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	-	USD	2 Qtrs
Net Cash from (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-217.50K	USD	2 Qtrs
Net Cash from (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$33.00	USD	2 Qtrs
Purchases of Fixed assets and Equipment	`PurchasesOfFixedAssetsAndEquipment`	-	USD	2 Qtrs
Purchases of Fixed assets and Equipment	`PurchasesOfFixedAssetsAndEquipment`	-	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 for cash	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Issuance of common stock for cash	`ProceedsFromIssuanceOfCommonStock`	$160.80K	USD	2 Qtrs
Proceeds of debts	`ProceedsFromConvertibleDebt`	-	USD	2 Qtrs
Proceeds of debts	`ProceedsFromConvertibleDebt`	$5.00K	USD	2 Qtrs
Due from/to Affiliates	`ProceedsFromContributionsFromAffiliates`	$44.71K	USD	2 Qtrs
Due from/to Affiliates	`ProceedsFromContributionsFromAffiliates`	-	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$210.51K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.98K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$33.00	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$35.00	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$68.00	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.74K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.76K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$35.00	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$68.00	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.74K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.76K	USD	Point-in-time
Issuance of shares to Vanguard shareholders	`IssuanceOfSharesToVanguardShareholders`	-	USD	2 Qtrs
Issuance of shares to Vanguard shareholders	`IssuanceOfSharesToVanguardShareholders`	$2.00	USD	2 Qtrs

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$-849.39K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-1.08M	USD	Point-in-time
Issuance of shares for sale of common Stock, Amount	`IssuanceOfSharesForSaleOfCommonStockAmount`	$160.80K	USD	2 Qtrs
Related Party Debt Forgiveness	`RepaymentsOfRelatedPartyDebt`	$25.80K	USD	2 Qtrs
Issuance of additional shares for acquisition, Amount	`IssuanceOfAdditionalSharesForAcquisitionAmount`	-	USD	2 Qtrs
Issuance of shares for Compensation and service, Amount	`IssuanceOfSharesForCompensationAndServiceAmount`	$1.29M	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-8.79K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-18.29K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-1.70M	USD	2 Qtrs
Ending balance, Amount	`StockholdersEquity`	$-849.39K	USD	Point-in-time
Ending balance, Amount	`StockholdersEquity`	$-1.08M	USD	Point-in-time

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