10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001903596-23-000513`
Period End Date	20221231
Filing Date	20230629
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	gstx_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 24 Cash Flow Statement 48 Stockholders Equity 14

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Furniture and equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$80.58K	USD	Point-in-time
Furniture and equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$80.58K	USD	Point-in-time
Cash	`Cash`	$2.86K	USD	Point-in-time
Debt Discount	`DebtInstrumentUnamortizedDiscountCurrent`	-	USD	Point-in-time
Debt Discount	`DebtInstrumentUnamortizedDiscountCurrent`	$76.25K	USD	Point-in-time
Cash	`Cash`	$13.07K	USD	Point-in-time
Preferred shares, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.65K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.18K	USD	Point-in-time
Preferred shares, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$14.04K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$24.73K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Furniture and equipment, net of depreciation $80,580	`PropertyPlantAndEquipmentNet`	$1.27K	USD	Point-in-time
Furniture and equipment, net of depreciation $80,580	`PropertyPlantAndEquipmentNet`	$1.24K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other receivable	`AccountsAndOtherReceivablesNetCurrent`	$2.09K	USD	Point-in-time
Other receivable	`AccountsAndOtherReceivablesNetCurrent`	$2.09K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Intellectual property at cost, net	`IntellectualPropertyAtCost`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Intellectual property at cost, net	`IntellectualPropertyAtCost`	$1.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Other intangible assets at cost	`OtherFiniteLivedIntangibleAssetsGross`	$975.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other intangible assets at cost	`OtherFiniteLivedIntangibleAssetsGross`	$975.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	343.24M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	374.31M	shares	Point-in-time
Total Assets	`Assets`	$18.38K	USD	Point-in-time
Total Assets	`Assets`	$29.04K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	343.24M	shares	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.45M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	374.31M	shares	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.38M	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$166.72K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$161.60K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$1.34M	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$1.51M	USD	Point-in-time
Notes payable in default	`NotesPayableCurrent`	$76.25K	USD	Point-in-time
Notes payable in default	`NotesPayableCurrent`	$76.94K	USD	Point-in-time
Convertible notes payable, net of discount $0 and $76,255 and $100,747 in default	`ConvertibleNotesPayableCurrent`	$100.75K	USD	Point-in-time
Convertible notes payable, net of discount $0 and $76,255 and $100,747 in default	`ConvertibleNotesPayableCurrent`	$100.75K	USD	Point-in-time
Related party loans	`OtherLoansPayableCurrent`	-	USD	Point-in-time
Related party loans	`OtherLoansPayableCurrent`	$20.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.06M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.32M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.06M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.32M	USD	Point-in-time
Preferred stock: 10,000,000 shares authorized; $0.00001 par value; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: 10,000,000 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; 374,305,480 and 343,237,369 shares issued and outstanding	`CommonStockValue`	$3.75K	USD	Point-in-time
Common stock: 500,000,000 shares authorized; $0.00001 par value; 374,305,480 and 343,237,369 shares issued and outstanding	`CommonStockValue`	$3.75K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$63.53M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$63.53M	USD	Point-in-time
Stock Receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	$795.00K	USD	Point-in-time
Stock Receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	$795.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.25M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.07M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-290.56K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-216.11K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity1`	$4.29M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity1`	$-4.04M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$29.04K	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$18.38K	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Professional Services	`ProfessionalFees`	$134.85K	USD	1 Quarter
Professional Services	`ProfessionalFees`	$12.55M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$280.67K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$42.79K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$177.65K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.83M	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-12.83M	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-177.65K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$6.30K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$4.68K	USD	1 Quarter
Interest expense	`InterestExpense`	$5.11K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.59K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$1.19K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-15.91K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$176.46K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$12.85M	USD	1 Quarter
Net Comprehensive Loss	`NetComprehensiveLoss`	$-250.91K	USD	1 Quarter
Net Comprehensive Loss	`NetComprehensiveLoss`	$-12.86M	USD	1 Quarter
Basic and diluted	`BasicAndDilutedLossPerCommonShare`	$-0.04	USD	1 Quarter
Basic and diluted	`BasicAndDilutedLossPerCommonShare`	-	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	374.31M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	357.28M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`ProfitLoss`	$-176.46K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-12.85M	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	-	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$12.38M	USD	1 Quarter
Depreciation expense	`Depreciation`	$83.00	USD	1 Quarter
Depreciation expense	`Depreciation`	$264.00	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$247.72K	USD	1 Quarter
Amortization of discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$13.94K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$69.78K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$49.27K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$6.65K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$5.11K	USD	1 Quarter
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Other receivable	`IncreaseDecreaseInOtherReceivables`	$-2.09K	USD	1 Quarter
Other receivable	`IncreaseDecreaseInOtherReceivables`	-	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$87.05K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$112.03K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.97K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-44.95K	USD	1 Quarter
Due to Affiliates	`IncreaseDecreaseDueFromAffiliates`	$20.00K	USD	1 Quarter
Due to Affiliates	`IncreaseDecreaseDueFromAffiliates`	-	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$46.92K	USD	1 Quarter
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	-	USD	1 Quarter
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	-	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$20.00K	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$46.92K	USD	1 Quarter
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-911.00	USD	1 Quarter
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$185.00	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$10.22K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.06K	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.79K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.86K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.07K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.73K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$4.79K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$2.86K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$13.07K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$3.73K	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Debt discount	`DebtDiscount`	-	USD	1 Quarter
Debt discount	`DebtDiscount`	-	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance, September 30, 2021	`StockholdersEquity`	$-4.04M	USD	Point-in-time
Balance, September 30, 2021	`StockholdersEquity`	$3.26M	USD	Point-in-time
Balance, September 30, 2021	`StockholdersEquity`	$2.83M	USD	Point-in-time
Balance, September 30, 2021	`StockholdersEquity`	$-4.29M	USD	Point-in-time
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-74.45K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-9.25K	USD	1 Quarter
Net loss	`ProfitLoss`	$-176.46K	USD	1 Quarter
Net loss	`ProfitLoss`	$-12.85M	USD	1 Quarter
Balance, December 31, 2021	`StockholdersEquity`	$-4.04M	USD	Point-in-time
Balance, December 31, 2021	`StockholdersEquity`	$3.26M	USD	Point-in-time
Balance, December 31, 2021	`StockholdersEquity`	$2.83M	USD	Point-in-time
Balance, December 31, 2021	`StockholdersEquity`	$-4.29M	USD	Point-in-time
Shares issued in connection with the sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	$46.92K	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	$12.38M	USD	1 Quarter

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