10-K Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001640334-18-001731`
Period End Date	20150930
Filing Date	20180907
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	sqtx-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 48 Cash Flow Statement 68 Stockholders Equity 13

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Notes payable, net of discount	`DebtInstrumentUnamortizedDiscount`	$71.75K	USD	Point-in-time
Notes payable, net of discount	`DebtInstrumentUnamortizedDiscount`	$71.75K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.25K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	-	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$12.50K	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5.00B	shares	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	5.00B	shares	Point-in-time
Total current assets	`AssetsCurrent`	$51.75K	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
Total current assets	`AssetsCurrent`	$5.00	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNoncurrentGross`	$83.65K	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Debt issuance costs	`DeferredFinanceCostsNoncurrentGross`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total assets	`Assets`	$5.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total assets	`Assets`	$135.41K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	979,109.00	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	115,243.00	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	979,109.00	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	115,243.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$578.00	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.22K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$702.90K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$38.57K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	-	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$10.46K	USD	Point-in-time
Short term notes payable	`ShortTermBorrowings`	$31.32K	USD	Point-in-time
Short term notes payable	`ShortTermBorrowings`	$50.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$275.00	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$8.60K	USD	Point-in-time
Current portion of notes payable, net of discount of $71,754	`NotesAndLoansPayableCurrent`	$2.92M	USD	Point-in-time
Current portion of notes payable, net of discount of $71,754	`NotesAndLoansPayableCurrent`	$146.94K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$266.46K	USD	Point-in-time
Common stock; $0.00001 par value; 100,000,000 shares authorized, 979,109 and 115,243 shares issued and outstanding at September 30, 2015 and 2014, respectively(1)	`CommonStockValue`	$979.00	USD	Point-in-time
Common stock; $0.00001 par value; 100,000,000 shares authorized, 979,109 and 115,243 shares issued and outstanding at September 30, 2015 and 2014, respectively(1)	`CommonStockValue`	$115.00	USD	Point-in-time
Preferred stock; $0.00001 par value; 5,000,000,000 shares authorized, none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; $0.00001 par value; 5,000,000,000 shares authorized, none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$5.52M	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`	$-9.02M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.50M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$3.27M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-266.46K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$135.41K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$5.00	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Oil and gas sales	`CostOfGoodsSoldOilAndGas`	-	USD	Annual
Oil and gas sales	`CostOfGoodsSoldOilAndGas`	$-1.68M	USD	Annual
Lease operating expense	`LeaseOperatingExpense`	-	USD	Annual
Lease operating expense	`LeaseOperatingExpense`	$544.04K	USD	Annual
Production taxes	`ProductionTaxExpense`	-	USD	Annual
Production taxes	`ProductionTaxExpense`	$77.25K	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$984.20K	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	-	USD	Annual
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	-	USD	Annual
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$861.58K	USD	Annual
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$880.21K	USD	1 Quarter
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$861.58K	USD	1 Quarter
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$-18.63K	USD	1 Quarter
Asset retirement obligation accretion	`AccretionExpenseIncludingAssetRetirementObligations`	-	USD	Annual
Asset retirement obligation accretion	`AccretionExpenseIncludingAssetRetirementObligations`	$29.09K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$904.41K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$109.95K	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$3.40M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$109.95K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.72M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-109.95K	USD	Annual
Other income	`OtherIncome`	$2.65K	USD	Annual
Other income	`OtherIncome`	$-23.81K	USD	Annual
Interest income	`InterestIncomeOther`	$233.00	USD	Annual
Interest income	`InterestIncomeOther`	-	USD	Annual
Gain on settlement of participation liability	`IncreaseDecreaseInProductionParticipationPlanLiability`	$-171.77K	USD	Annual
Gain on settlement of participation liability	`IncreaseDecreaseInProductionParticipationPlanLiability`	-	USD	Annual
Interest expense	`InterestIncomeExpenseNet`	$-31.61K	USD	Annual
Interest expense	`InterestIncomeExpenseNet`	$-1.46M	USD	Annual
Other equipment write-off	`OtherEquipmentWriteoff`	-	USD	Annual
Other equipment write-off	`OtherEquipmentWriteoff`	$20.82K	USD	Annual
Gain (loss) on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-380.54K	USD	Annual
Gain (loss) on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$380.54K	USD	1 Quarter
Gain (loss) on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$2.58M	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-1.64M	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$2.52M	USD	Annual
Net income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.37M	USD	Annual
Net income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.41M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$2.41M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-3.37M	USD	Annual
Basic	`EarningsPerShareBasic`	$2.90	USD	Annual
Basic	`EarningsPerShareBasic`	$26.92	USD	Annual
Diluted	`EarningsPerShareDiluted`	$26.92	USD	Annual
Diluted	`EarningsPerShareDiluted`	$2.65	USD	Annual
Weighted average number of shares outstanding (1)	`WeightedAverageNumberOfSharesOutstandingBasic`	831,241.00	shares	Annual
Weighted average number of shares outstanding (1)	`WeightedAverageNumberOfSharesOutstandingBasic`	125,130.00	shares	Annual

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$2.41M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-3.37M	USD	Annual
Interest expense	`InterestExpense`	-	USD	Annual
Interest expense	`InterestExpense`	$31.61K	USD	Annual
Cancellation of treasury shares	`CancellationOfTreasuryShares`	-	USD	Annual
Cancellation of treasury shares	`CancellationOfTreasuryShares`	$23.81K	USD	Annual
Depreciation, depletion and amortization	`DepreciationAndAmortization`	$941.29K	USD	Annual
Depreciation, depletion and amortization	`DepreciationAndAmortization`	-	USD	Annual
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	-	USD	Annual
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$861.58K	USD	Annual
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$880.21K	USD	1 Quarter
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$861.58K	USD	1 Quarter
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$-18.63K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$274.74K	USD	Annual
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	-	USD	Annual
Gain on settlement of participation liability	`IncreaseDecreaseInProductionParticipationPlanLiability`	$-171.77K	USD	Annual
Gain on settlement of participation liability	`IncreaseDecreaseInProductionParticipationPlanLiability`	-	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$169.15K	USD	Annual
Loss (gain) on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-380.54K	USD	Annual
Loss (gain) on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$380.54K	USD	1 Quarter
Loss (gain) on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$2.58M	USD	Annual
Asset retirement of obligation accretion	`AccretionExpenseIncludingAssetRetirementObligations`	-	USD	Annual
Asset retirement of obligation accretion	`AccretionExpenseIncludingAssetRetirementObligations`	$29.09K	USD	Annual
Accretion of participation liability	`IncreaseDecreaseInParticipationLiabilities`	$-63.16K	USD	Annual
Accretion of participation liability	`IncreaseDecreaseInParticipationLiabilities`	-	USD	Annual
Other equipment write-off	`OtherEquipmentWriteoff`	-	USD	Annual
Other equipment write-off	`OtherEquipmentWriteoff`	$20.82K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$343.19K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.50K	USD	Annual
Other assets	`IncreaseDecreaseInDepositOtherAssets`	-	USD	Annual
Other assets	`IncreaseDecreaseInDepositOtherAssets`	$14.36K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-112.74K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$25.61K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$393.36K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-9.43K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-4.05K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-8.32K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-291.92K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-89.25K	USD	Annual
Capital expenditures on oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$1.01M	USD	Annual
Capital expenditures on oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	-	USD	Annual
Proceeds from sale of oil and gas properties	`ProceedsFromSaleOfRealEstate`	$5.50M	USD	Annual
Proceeds from sale of oil and gas properties	`ProceedsFromSaleOfRealEstate`	-	USD	Annual
Net cash provided by investment activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash provided by investment activities	`NetCashProvidedByUsedInInvestingActivities`	$4.49M	USD	Annual
Issuance of short term note payable	`ProceedsFromNotesPayable`	$50.00K	USD	Annual
Issuance of short term note payable	`ProceedsFromNotesPayable`	-	USD	Annual
Repayment of note payable	`RepaymentsOfNotesPayable`	-	USD	Annual
Repayment of note payable	`RepaymentsOfNotesPayable`	$5.26M	USD	Annual
Settlement of participation liability	`SettlementOfParticipationLiability`	-	USD	Annual
Settlement of participation liability	`SettlementOfParticipationLiability`	$230.62K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$50.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.49M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-39.25K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.30M	USD	Annual
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.00	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.25K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$5.00	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.33M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$39.25K	USD	Point-in-time
Interest	`InterestPaid`	-	USD	Annual
Interest	`InterestPaid`	-	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	Annual
Income taxes	`IncomeTaxesPaid`	-	USD	Annual
Issuance of shares for settlement of debt	`IssuanceOfSharesForSettlementOfDebt`	$866.32K	USD	Annual
Issuance of shares for settlement of debt	`IssuanceOfSharesForSettlementOfDebt`	-	USD	Annual

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$-3.50M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$3.27M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-266.46K	USD	Point-in-time
Return of common stock, Amount	`StockRepurchasedDuringPeriodValue`	-	USD	Annual
Return of common stock, Amount	`StockRepurchasedDuringPeriodValue`	-	USD	Annual
Cancellation of treasury shares	`CancellationOfTreasuryShares`	-	USD	Annual
Cancellation of treasury shares	`CancellationOfTreasuryShares`	$23.81K	USD	Annual
Issuance of shares for debt settlement, Amount	`IssuanceOfSharesForDebtSettlementAmount`	$797.57K	USD	Annual
Net Income loss	`NetIncomeLoss`	$2.41M	USD	Annual
Net Income loss	`NetIncomeLoss`	$-3.37M	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$-3.50M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$3.27M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-266.46K	USD	Point-in-time

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