10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001640334-18-001635`
Period End Date	20180630
Filing Date	20180820
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	sqti-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 60 Cash Flow Statement 43

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.74K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$66.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.00	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Due from SQTL	`DueFromSqtl`	-	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Due from SQTX	`DueFromSqtx`	-	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
Due from affiliates	`DueFromAffiliateCurrent`	$27.64K	USD	Point-in-time
Due from affiliates	`DueFromAffiliateCurrent`	$26.89K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$27.67K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$37.63K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	224.43M	shares	Point-in-time
Furniture, Fixtures & Equipment (Net)	`PropertyPlantAndEquipmentNet`	$92.65K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	235.88M	shares	Point-in-time
Furniture, Fixtures & Equipment (Net)	`PropertyPlantAndEquipmentNet`	$52.80K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	235.88M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	224.43M	shares	Point-in-time
Quartz Deposits	`DepositAssets`	$30.10K	USD	Point-in-time
Quartz Deposits	`DepositAssets`	$30.00K	USD	Point-in-time
Total Assets	`Assets`	$160.28K	USD	Point-in-time
Total Assets	`Assets`	$110.57K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$231.91K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$364.10K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$295.75K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$45.06K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$53.02K	USD	Point-in-time
Accrued liabilities to related party	`AccruedLiabilitiesCurrent`	$32.71K	USD	Point-in-time
Accrued liabilities to related party	`AccruedLiabilitiesCurrent`	$26.01K	USD	Point-in-time
Short term notes payable	`NotesPayableCurrent`	$90.00K	USD	Point-in-time
Short term notes payable	`NotesPayableCurrent`	$85.00K	USD	Point-in-time
Due to Affiliates	`DueToAffiliateCurrent`	$424.05K	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`	$1.01M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.20M	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 shares authorized; 235,884,815 and 224,426,229 shares issued and outstanding	`CommonStockValue`	$2.36K	USD	Point-in-time
Common Stock, $0.00001 par value, 500,000,000 shares authorized; 235,884,815 and 224,426,229 shares issued and outstanding	`CommonStockValue`	$2.25K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.89M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.53M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.69M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.74M	USD	Point-in-time
Other comprehensive income	`OtherComprehensiveIncomeLoss`	-	USD	Point-in-time
Other comprehensive income	`OtherComprehensiveIncomeLoss`	$69.74K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.09M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-849.39K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$110.57K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$160.28K	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	$1.00	USD	3 Qtrs
Revenues	`Revenues`	-	USD	3 Qtrs
Professional Services	`ProfessionalFees`	-	USD	3 Qtrs
Professional Services	`ProfessionalFees`	$235.83K	USD	1 Quarter
Professional Services	`ProfessionalFees`	$1.76M	USD	3 Qtrs
Professional Services	`ProfessionalFees`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$183.33K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$16.16K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.79K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.52K	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$-12.52K	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$251.99K	USD	1 Quarter
Total costs and expenses	`OperatingExpenses`	$1.94M	USD	3 Qtrs
Total costs and expenses	`OperatingExpenses`	$3.79K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.94M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-12.52K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-251.99K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.79K	USD	1 Quarter
Other income	`OtherIncome`	$1.67K	USD	1 Quarter
Other income	`OtherIncome`	-	USD	3 Qtrs
Other income	`OtherIncome`	$27.00	USD	1 Quarter
Other income	`OtherIncome`	$27.00	USD	3 Qtrs
Interest income	`InterestAndOtherIncome`	$-1.00	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	-	USD	1 Quarter
Interest income	`InterestAndOtherIncome`	-	USD	3 Qtrs
Interest income	`InterestAndOtherIncome`	$1.67K	USD	3 Qtrs
Interest expense	`InterestExpenseOther`	$7.96K	USD	3 Qtrs
Interest expense	`InterestExpenseOther`	$7.96K	USD	3 Qtrs
Interest expense	`InterestExpenseOther`	$2.65K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$2.65K	USD	1 Quarter
Other interest costs	`OtherInterestCosts`	$2.25K	USD	1 Quarter
Other interest costs	`OtherInterestCosts`	$6.38K	USD	3 Qtrs
Other interest costs	`OtherInterestCosts`	$6.50K	USD	3 Qtrs
Other interest costs	`OtherInterestCosts`	$2.12K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-12.79K	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-14.31K	USD	3 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-4.75K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-3.24K	USD	1 Quarter
Net loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-26.83K	USD	3 Qtrs
Net loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.54K	USD	1 Quarter
Net loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.95M	USD	3 Qtrs
Net loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-255.23K	USD	1 Quarter
Currency Translation Adjustment	`TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax`	$69.74K	USD	3 Qtrs
Currency Translation Adjustment	`TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax`	-	USD	3 Qtrs
Currency Translation Adjustment	`TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax`	$69.74K	USD	1 Quarter
Currency Translation Adjustment	`TranslationAdjustmentFunctionalToReportingCurrencyIncreaseDecreaseGrossOfTax`	-	USD	1 Quarter
Comprehensive loss	`NetIncomeLoss`	$-1.88M	USD	3 Qtrs
Comprehensive loss	`NetIncomeLoss`	$-185.49K	USD	1 Quarter
Comprehensive loss	`NetIncomeLoss`	$-8.54K	USD	1 Quarter
Comprehensive loss	`NetIncomeLoss`	$-26.83K	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.00M	shares	3 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.00M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	235.01M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	229.77M	shares	3 Qtrs

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.88M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-185.49K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.54K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-26.83K	USD	3 Qtrs
Depreciation	`Depreciation`	$39.85K	USD	3 Qtrs
Depreciation	`Depreciation`	-	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$1.44M	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	-	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-102.00	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$966.00	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-132.91K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$11.56K	USD	3 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$7.96K	USD	3 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$7.96K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$6.38K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$6.70K	USD	3 Qtrs
Accrued compensation	`AccruedCompensation`	-	USD	3 Qtrs
Accrued compensation	`AccruedCompensation`	$295.75K	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$30.34K	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	-	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-192.01K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$31.00	USD	3 Qtrs
Issuance of common stock for cash	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Issuance of common stock for cash	`ProceedsFromIssuanceOfCommonStock`	$176.00K	USD	3 Qtrs
Issuance of short term note payable	`ProceedsFromShortTermDebt`	$5.00K	USD	3 Qtrs
Issuance of short term note payable	`ProceedsFromShortTermDebt`	-	USD	3 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$181.30K	USD	3 Qtrs
Net change in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$31.00	USD	3 Qtrs
Net change in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.71K	USD	3 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.74K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$28.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$66.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$35.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$10.74K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$28.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$66.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$35.00	USD	Point-in-time
Issuance of shares to Vanguard shareholders	`IssuanceOfSharesToVanguardShareholders`	-	USD	3 Qtrs
Issuance of shares to Vanguard shareholders	`IssuanceOfSharesToVanguardShareholders`	$2.00	USD	3 Qtrs
Cash paid for interest expense	`InterestPaid`	-	USD	3 Qtrs
Cash paid for interest expense	`InterestPaid`	-	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs

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