10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001640334-19-000953`
Period End Date	20190331
Filing Date	20190521
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	gstx-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 56 Cash Flow Statement 58

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Furniture & Equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$46.28K	USD	Point-in-time
Furniture & Equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$38.28K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.80K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.70K	USD	Point-in-time
Prepaid Legal	`PrepaidExpenseCurrent`	$10.00K	USD	Point-in-time
Prepaid Legal	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Notes Payable-Power Up Lending, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	$1.55K	USD	Point-in-time
Notes Payable-Power Up Lending, net of discount	`DebtInstrumentUnamortizedDiscountCurrent`	$28.17K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$26.80K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$6.70K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Furniture & Equipment-net of depreciation, $46,277 and $38,278	`PropertyPlantAndEquipmentNet`	$47.16K	USD	Point-in-time
Furniture & Equipment-net of depreciation, $46,277 and $38,278	`PropertyPlantAndEquipmentNet`	$37.99K	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Quartz Deposits	`DepositAssets`	$30.00K	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
Quartz Deposits	`DepositAssets`	$28.69K	USD	Point-in-time
Total Assets	`Assets`	$94.79K	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`	$82.55K	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`	500.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$141.13K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$121.02K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$91.63K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$105.16K	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	238.86M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	236.05M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	236.05M	shares	Point-in-time
Short term notes payable	`NotesPayableCurrent`	$90.00K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	238.86M	shares	Point-in-time
Short term notes payable	`NotesPayableCurrent`	$90.00K	USD	Point-in-time
Due to Affiliated Parties	`DueToAffiliateCurrent`	$488.22K	USD	Point-in-time
Due to Affiliated Parties	`DueToAffiliateCurrent`	$447.76K	USD	Point-in-time
Note Payable-Power Up Lending, net of discount $28,174 and $1,551	`OtherNotesPayableCurrent`	$22.83K	USD	Point-in-time
Note Payable-Power Up Lending, net of discount $28,174 and $1,551	`OtherNotesPayableCurrent`	$60.50K	USD	Point-in-time
Derivative Liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Derivative Liability	`DerivativeLiabilitiesCurrent`	$42.75K	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`	$901.76K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$940.72K	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; 238,861,939 and 236,046,151 shares issued and outstanding	`CommonStockValue`	$2.39K	USD	Point-in-time
Common stock, $0.00001 par value; 500,000,000 shares authorized; 238,861,939 and 236,046,151 shares issued and outstanding	`CommonStockValue`	$2.36K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.43M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.97M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.40M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.89M	USD	Point-in-time
Comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$92.05K	USD	Point-in-time
Comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$121.66K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-819.21K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-845.92K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$94.79K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$82.55K	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Professional Services	`ProfessionalFees`	$100.20K	USD	2 Qtrs
Professional Services	`ProfessionalFees`	-	USD	1 Quarter
Professional Services	`ProfessionalFees`	$1.37M	USD	1 Quarter
Professional Services	`ProfessionalFees`	$1.52M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$73.56K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$197.59K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$167.17K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$369.22K	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$197.59K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$1.69M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$1.44M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$469.42K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.44M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.69M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-469.42K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-197.59K	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	2 Qtrs
Interest income	`InterestIncomeOther`	-	USD	1 Quarter
Interest income	`InterestIncomeOther`	$-1.00	USD	2 Qtrs
Other income	`OtherIncome`	-	USD	2 Qtrs
Other income	`OtherIncome`	-	USD	1 Quarter
Other income	`OtherIncome`	$1.42K	USD	1 Quarter
Other income	`OtherIncome`	$2.86K	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$42.77K	USD	1 Quarter
Interest expense	`InterestExpenseOther`	$50.53K	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$9.56K	USD	2 Qtrs
Interest expense	`InterestExpenseOther`	$4.79K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-41.35K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-47.67K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-4.78K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-9.56K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-1.70M	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-238.94K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-517.10K	USD	2 Qtrs
Comprehensive income (Loss)	`ComprehensiveIncomeNetOfTax`	-	USD	2 Qtrs
Comprehensive income (Loss)	`ComprehensiveIncomeNetOfTax`	$7.96K	USD	1 Quarter
Comprehensive income (Loss)	`ComprehensiveIncomeNetOfTax`	$29.61K	USD	2 Qtrs
Comprehensive income (Loss)	`ComprehensiveIncomeNetOfTax`	-	USD	1 Quarter
Net Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-1.70M	USD	2 Qtrs
Net Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-487.48K	USD	2 Qtrs
Net Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-1.44M	USD	1 Quarter
Net Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-230.79K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	224.68M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	224.68M	shares	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	236.78M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	236.78M	shares	2 Qtrs

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss`	$-1.44M	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-1.70M	USD	2 Qtrs
Net Income (loss)	`NetIncomeLoss`	$-238.94K	USD	1 Quarter
Net Income (loss)	`NetIncomeLoss`	$-517.10K	USD	2 Qtrs
Depreciation	`Depreciation`	$8.54K	USD	2 Qtrs
Depreciation	`Depreciation`	$33.37K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$29.57K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Foreign currency transaction gain	`ForeignCurrencyTransactionGainBeforeTax`	-	USD	2 Qtrs
Foreign currency transaction gain	`ForeignCurrencyTransactionGainBeforeTax`	$-7.48K	USD	2 Qtrs
Stock issued for service	`ShareBasedCompensation`	$100.20K	USD	2 Qtrs
Stock issued for service	`ShareBasedCompensation`	$1.29M	USD	2 Qtrs
Change in book value of Quartz deposits	`IncreaseDecreaseInDeposits`	$-565.00	USD	2 Qtrs
Change in book value of Quartz deposits	`IncreaseDecreaseInDeposits`	$-1.31K	USD	2 Qtrs
Prepaids	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Prepaids	`IncreaseDecreaseInPrepaidExpense`	$-10.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-20.11K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$152.28K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$5.31K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$13.53K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$4.45K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	-	USD	2 Qtrs
Derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	-	USD	2 Qtrs
Derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$42.75K	USD	2 Qtrs
Change in derivative liability	`IncreaseDecreaseInDerivativeAssetsAndLiabilities`	-	USD	2 Qtrs
Change in derivative liability	`IncreaseDecreaseInDerivativeAssetsAndLiabilities`	$-2.25K	USD	2 Qtrs
Loss on conversion	`DebtInstrumentIncreaseDecreaseOtherNet`	-	USD	2 Qtrs
Loss on conversion	`DebtInstrumentIncreaseDecreaseOtherNet`	$9.82K	USD	2 Qtrs
Payable to related parties	`IncreaseDecreaseDueFromOtherRelatedParties`	-	USD	2 Qtrs
Payable to related parties	`IncreaseDecreaseDueFromOtherRelatedParties`	$40.45K	USD	2 Qtrs
Net cash from (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-217.50K	USD	2 Qtrs
Net cash from (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-313.38K	USD	2 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$160.80K	USD	2 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from debt	`ProceedsFromOtherDebt`	$5.00K	USD	2 Qtrs
Proceeds from debt	`ProceedsFromOtherDebt`	-	USD	2 Qtrs
Additional paid in capital	`AdjustmentsToAdditionalPaidInCapitalOther`	$-353.09K	USD	2 Qtrs
Additional paid in capital	`AdjustmentsToAdditionalPaidInCapitalOther`	-	USD	2 Qtrs
Due from/to affiliates	`ProceedsFromRelatedPartyDebt`	-	USD	2 Qtrs
Due from/to affiliates	`ProceedsFromRelatedPartyDebt`	$44.71K	USD	2 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$210.51K	USD	2 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$353.09K	USD	2 Qtrs
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	2 Qtrs
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-29.61K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.98K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.10K	USD	2 Qtrs
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 beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.80K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.70K	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
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.80K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.70K	USD	Point-in-time
Issuance of shares to Vanguard shareholders	`StockIssued1`	$2.00	USD	2 Qtrs
Issuance of shares to Vanguard shareholders	`StockIssued1`	-	USD	2 Qtrs
Conversion of loan principal into shares (Power Up Lending)	`ConversionOfLoanPrincipalIntoSharesPowerUpLending`	$12.00K	USD	2 Qtrs
Conversion of loan principal into shares (Power Up Lending)	`ConversionOfLoanPrincipalIntoSharesPowerUpLending`	-	USD	2 Qtrs

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