10-K Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001640334-20-000125`
Period End Date	20190930
Filing Date	20200121
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	gstx-20190930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 40 Cash Flow Statement 70 Stockholders Equity 24

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`Cash`	$6.70K	USD	Point-in-time
Cash	`Cash`	$74.24K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.68K	USD	Point-in-time
Other receivable	`OtherReceivables`	$5.20K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	242.45M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	236.05M	shares	Point-in-time
Other receivable	`OtherReceivables`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	242.45M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$91.12K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$6.70K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	236.05M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Furniture and equipment, net of depreciation $51,946 and $38,276	`PropertyPlantAndEquipmentNet`	$47.15K	USD	Point-in-time
Preferred stock, shares par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Furniture and equipment, net of depreciation $51,946 and $38,276	`PropertyPlantAndEquipmentNet`	$27.87K	USD	Point-in-time
Preferred stock, shares par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Mineral rights	`MineralRights`	$28.69K	USD	Point-in-time
Mineral rights	`MineralRights`	$28.41K	USD	Point-in-time
Furniture & Equipment, net of depreciation	`FurnitureEquipmentNetOfDepreciation`	$38.28K	USD	Point-in-time
Total Assets	`Assets`	$82.55K	USD	Point-in-time
Furniture & Equipment, net of depreciation	`FurnitureEquipmentNetOfDepreciation`	$51.95K	USD	Point-in-time
Total Assets	`Assets`	$147.41K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$402.60K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$141.13K	USD	Point-in-time
Convertible notes payable, net of discount $0 and $2,503	`DebtInstrumentUnamortizedDiscountCurrent`	-	USD	Point-in-time
Convertible notes payable, net of discount $0 and $2,503	`DebtInstrumentUnamortizedDiscountCurrent`	$2.05K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrentAndNoncurrent`	$110.74K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrentAndNoncurrent`	$91.63K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$447.76K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$455.58K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Convertible notes payable, net of discount $0 and $2,503	`ConvertibleNotesPayableCurrent`	$100.75K	USD	Point-in-time
Convertible notes payable, net of discount $0 and $2,503	`ConvertibleNotesPayableCurrent`	$161.24K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.13M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$901.76K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.13M	USD	Point-in-time
Total Liabilities	`Liabilities`	$901.76K	USD	Point-in-time
Preferred stock: 5,000,000 shares authorized; $0.00001 par value; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: 5,000,000 shares authorized; $0.00001 par value; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock: 500,000,000 shares authorized; $0.00001 par value; 242,449,767 and 236,046,151 shares issued and outstanding	`CommonStockValue`	$2.36K	USD	Point-in-time
Common stock: 500,000,000 shares authorized; $0.00001 par value; 242,449,767 and 236,046,151 shares issued and outstanding	`CommonStockValue`	$2.42K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.05M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.97M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.13M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$92.05K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$100.72K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-819.21K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-849.39K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$82.55K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$147.41K	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	Annual
Revenue	`Revenues`	-	USD	Annual
Professional fees	`ProfessionalFees`	$1.80M	USD	Annual
Professional fees	`ProfessionalFees`	$881.10K	USD	Annual
General and administration	`GeneralAndAdministrativeExpense`	$323.22K	USD	Annual
General and administration	`GeneralAndAdministrativeExpense`	$267.11K	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.13M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.15M	USD	Annual
Operating Loss	`OperatingIncomeLoss`	$-1.15M	USD	Annual
Operating Loss	`OperatingIncomeLoss`	$-2.13M	USD	Annual
Interest expense	`InterestExpense`	$-20.85K	USD	Annual
Interest expense	`InterestExpense`	$-76.14K	USD	Annual
Rental income	`RentalIncomeNonoperating`	$6.33K	USD	Annual
Rental income	`RentalIncomeNonoperating`	-	USD	Annual
Promissory note prepayment penalty	`PromissoryNotePrepaymentPenalty`	-	USD	Annual
Promissory note prepayment penalty	`PromissoryNotePrepaymentPenalty`	$-17.86K	USD	Annual
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossRealized`	$1.68K	USD	Annual
Foreign currency transaction loss	`ForeignCurrencyTransactionGainLossRealized`	-	USD	Annual
Change in fair value of derivative liability	`ChangeInFairValueOfDerivativeLiability`	$-2.54K	USD	Annual
Change in fair value of derivative liability	`ChangeInFairValueOfDerivativeLiability`	-	USD	Annual
Loss on settlement of convertible note	`LossOnSettlementOfConvertibleNote`	-	USD	Annual
Loss on settlement of convertible note	`LossOnSettlementOfConvertibleNote`	$-9.82K	USD	Annual
Total Other Expense	`OtherNoncashExpense`	$-98.34K	USD	Annual
Total Other Expense	`OtherNoncashExpense`	$-20.85K	USD	Annual
Net Loss Before Income Tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-1.25M	USD	Annual
Net Loss Before Income Tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-2.15M	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net Loss	`NetIncomeLoss`	$-1.25M	USD	Annual
Net Loss	`NetIncomeLoss`	$-2.15M	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTranslationAdjustment`	$92.05K	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTranslationAdjustment`	$8.67K	USD	Annual
Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-2.05M	USD	Annual
Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-1.24M	USD	Annual
Net Loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.25M	USD	Annual
Net Loss available to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.15M	USD	Annual
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	238.99M	shares	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	231.31M	shares	Annual

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.25M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.15M	USD	Annual
Other comprehensive gain - translation adjustment	`RestructuringReserveTranslationAndOtherAdjustment`	-	USD	Annual
Other comprehensive gain - translation adjustment	`RestructuringReserveTranslationAndOtherAdjustment`	$92.05K	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.21M	USD	Annual
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$100.20K	USD	Annual
Depreciation expenses	`Depreciation`	$38.28K	USD	Annual
Depreciation expenses	`Depreciation`	$16.88K	USD	Annual
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Amortization of debt discounts	`AmortizationOfDebtDiscountPremium`	$57.61K	USD	Annual
Loss on conversion of note payable	`LossOnConversionOfNotePayable`	-	USD	Annual
Loss on conversion of note payable	`LossOnConversionOfNotePayable`	$9.82K	USD	Annual
Change in fair value of derivative liability	`ChangeInFairValueOfDerivativeLiability`	$-2.54K	USD	Annual
Change in fair value of derivative liability	`ChangeInFairValueOfDerivativeLiability`	-	USD	Annual
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.68K	USD	Annual
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	-	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-11.71K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
Other receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.42K	USD	Annual
Other receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$128.05K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-222.88K	USD	Annual
Accrued liability	`IncreaseDecreaseInAccruedLiabilities`	$9.94K	USD	Annual
Accrued liability	`IncreaseDecreaseInAccruedLiabilities`	$704.00	USD	Annual
Accrued interest payable	`AccruedInterestPayable`	$13.61K	USD	Annual
Accrued interest payable	`AccruedInterestPayable`	$10.61K	USD	Annual
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$555.15K	USD	Annual
Due to related party	`IncreaseDecreaseInDueToRelatedParties`	$335.15K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	-	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-92.00	USD	Annual
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-456.66K	USD	Annual
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-600.80K	USD	Annual
Proceeds from common stock issuances	`ProceedsFromIssuanceOfCommonStock`	$378.60K	USD	Annual
Proceeds from common stock issuances	`ProceedsFromIssuanceOfCommonStock`	$880.00K	USD	Annual
Proceeds from related party	`ProceedsFromRelatedPartyDebt`	$312.20K	USD	Annual
Proceeds from related party	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Repayment to related party	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Repayment to related party	`RepaymentsOfRelatedPartyDebt`	$-489.86K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$60.50K	USD	Annual
Proceeds from short - term loans	`ProceedsFromShortTermDebt`	$5.00K	USD	Annual
Proceeds from short - term loans	`ProceedsFromShortTermDebt`	-	USD	Annual
Repayment on convertible notes payable	`RepaymentsOfConvertibleDebt`	-	USD	Annual
Repayment on convertible notes payable	`RepaymentsOfConvertibleDebt`	$-31.00K	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$671.34K	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$444.10K	USD	Annual
Effect of exchange rate in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$8.53K	USD	Annual
Effect of exchange rate in cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.00K	USD	Annual
Net Change in Cash	`CashPeriodIncreaseDecrease`	$-4.03K	USD	Annual
Net Change in Cash	`CashPeriodIncreaseDecrease`	$67.54K	USD	Annual
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$6.70K	USD	Point-in-time
Cash at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$10.74K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$74.24K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$6.70K	USD	Point-in-time
Cash at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$10.74K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$4.67K	USD	Annual
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	Annual
Debt forgiveness from related party	`DebtForgivenessFromRelatedParty`	-	USD	Annual
Debt forgiveness from related party	`DebtForgivenessFromRelatedParty`	$438.52K	USD	Annual
Issuance of shares for debt repayment	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$60.73K	USD	Annual
Issuance of shares for debt repayment	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Discount on note payable credited to derivative liability	`DiscountOnNotePayableCreditedToDerivativeLiability`	$55.11K	USD	Annual
Discount on note payable credited to derivative liability	`DiscountOnNotePayableCreditedToDerivativeLiability`	-	USD	Annual
Terminal balance of derivative liability credited to additional paid-in capital	`TerminalBalanceOfDerivativeLiabilityCreditedToAdditionalPaidInCapital`	-	shares	Annual
Terminal balance of derivative liability credited to additional paid-in capital	`TerminalBalanceOfDerivativeLiabilityCreditedToAdditionalPaidInCapital`	57,649.00	shares	Annual
Note payable converted into common stock	`NotePayableConvertedIntoCommonStock`	$36.99K	USD	Annual
Note payable converted into common stock	`NotePayableConvertedIntoCommonStock`	-	USD	Annual

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, amount	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-819.21K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-849.39K	USD	Point-in-time
Stock-based compensation, amount	`StockGrantedDuringPeriodValueSharebasedCompensation`	$1.21M	USD	Annual
Stock-based compensation, amount	`StockGrantedDuringPeriodValueSharebasedCompensation`	$100.20K	USD	Annual
Shares issued for cash, amount	`SharesIssuedInConnectionWithTheSaleOfCommonStockAmount`	$880.00K	USD	Annual
Shares issued for cash, amount	`SharesIssuedInConnectionWithTheSaleOfCommonStockAmount`	$378.60K	USD	Annual
Related party debt forgiveness	`DebtInstrumentDecreaseForgiveness`	$438.52K	USD	Annual
Shares issued for debt repayment, amount	`SharesIssuedForDebtRepaymentAmount`	$60.73K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.68K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	-	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-1.25M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-2.15M	USD	Annual
Shares issued for conversion of note payable, amount	`ConversionOfStockAmountIssued1`	$36.99K	USD	Annual
Terminal balance of derivative liability	`TerminalBalanceOfDerivativeLiability`	$57.65K	USD	Annual
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, amount	`StockholdersEquity`	$-982.25K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-819.21K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-849.39K	USD	Point-in-time

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