10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001903596-23-000582`
Period End Date	20230331
Filing Date	20230804
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	gstx_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 56 Cash Flow Statement 58 Stockholders Equity 32

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Furniture and equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$79.92K	USD	Point-in-time
Cash	`Cash`	$10.35K	USD	Point-in-time
Debt Discount	`DebtInstrumentUnamortizedDiscountCurrent`	$100.75K	USD	Point-in-time
Debt Discount	`DebtInstrumentUnamortizedDiscountCurrent`	-	USD	Point-in-time
Cash	`Cash`	$2.86K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.18K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.54K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$21.89K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$14.04K	USD	Point-in-time
Furniture and equipment, net of depreciation $79,916	`PropertyPlantAndEquipmentNet`	$1.14K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Furniture and equipment, net of depreciation $79,916	`PropertyPlantAndEquipmentNet`	$1.27K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Intellectual property at cost, net	`IntellectualPropertyAtCost`	$1.00	USD	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, authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Other intangible assets at cost	`OtherFiniteLivedIntangibleAssetsGross`	$975.00	USD	Point-in-time
Other intangible assets at cost	`OtherFiniteLivedIntangibleAssetsGross`	$975.00	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other receivable	`AccountsAndOtherReceivablesNetCurrent`	$2.09K	USD	Point-in-time
Other receivable	`AccountsAndOtherReceivablesNetCurrent`	$4.01K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	374.31M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	374.54M	shares	Point-in-time
Total Assets	`Assets`	$18.38K	USD	Point-in-time
Total Assets	`Assets`	$28.03K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	374.31M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	374.54M	shares	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.38M	USD	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.49M	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$171.74K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$161.60K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$1.58M	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$1.34M	USD	Point-in-time
Notes payable in default	`NotesPayableCurrent`	$76.25K	USD	Point-in-time
Notes payable in default	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Convertible notes payable, net of discount $0 and $100,747 in default	`ConvertibleNotesPayableCurrent`	$100.75K	USD	Point-in-time
Convertible notes payable, net of discount $0 and $100,747 in default	`ConvertibleNotesPayableCurrent`	$100.75K	USD	Point-in-time
Notes payable Related Party	`OtherLoansPayableCurrent`	$41.89K	USD	Point-in-time
Notes payable Related Party	`OtherLoansPayableCurrent`	-	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.06M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.44M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.44M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.06M	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; 374,542,610 and 374,305,480 shares issued and outstanding	`CommonStockValue`	$3.75K	USD	Point-in-time
Common stock: 500,000,000 shares authorized; $0.00001 par value; 374,542,610 and 374,305,480 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`	$63.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.45M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.07M	USD	Point-in-time
Stock Receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	$795.00K	USD	Point-in-time
Stock Receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	$795.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-290.56K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-232.67K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity2`	$-4.41M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity2`	$-4.04M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$28.03K	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$18.38K	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	2 Qtrs
Professional Services	`ProfessionalFees`	$153.25K	USD	1 Quarter
Professional Services	`ProfessionalFees`	$12.73M	USD	2 Qtrs
Professional Services	`ProfessionalFees`	$288.11K	USD	2 Qtrs
Professional Services	`ProfessionalFees`	$172.28K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$54.64K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$550.46K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$269.78K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.85K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$342.75K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$13.28M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$165.10K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$442.06K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-442.06K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-165.43K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-342.75K	USD	2 Qtrs
Loss from operations	`IncomeLossFromContinuingOperations`	$-13.28M	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	$11.28K	USD	2 Qtrs
Other income	`OtherNonoperatingIncome`	$6.59K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$10.66K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$16.96K	USD	2 Qtrs
Interest expense	`InterestExpense`	$25.43K	USD	2 Qtrs
Interest expense	`InterestExpense`	$10.13K	USD	2 Qtrs
Interest expense	`InterestExpense`	$5.02K	USD	1 Quarter
Interest expense	`InterestExpense`	$4.83K	USD	1 Quarter
Loss on extinguishment of debt	`LossOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on extinguishment of debt	`LossOnExtinguishmentOfDebt`	$40.44K	USD	2 Qtrs
Loss on extinguishment of debt	`LossOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Loss on extinguishment of debt	`LossOnExtinguishmentOfDebt`	$40.44K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-14.15K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$1.76K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-33.61K	USD	2 Qtrs
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-34.80K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$13.29M	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$440.31K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$376.36K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$199.90K	USD	1 Quarter
Other Comprehensive Income	`OtherComprehensiveIncomeLossBeforeTax`	$-56.70K	USD	2 Qtrs
Other Comprehensive Income	`OtherComprehensiveIncomeLossBeforeTax`	$-57.89K	USD	2 Qtrs
Other Comprehensive Income	`OtherComprehensiveIncomeLossBeforeTax`	$-47.46K	USD	1 Quarter
Other Comprehensive Income	`OtherComprehensiveIncomeLossBeforeTax`	$16.57K	USD	1 Quarter
Net Comprehensive Loss	`NetComprehensiveLoss`	$-13.35M	USD	2 Qtrs
Net Comprehensive Loss	`NetComprehensiveLoss`	$-434.25K	USD	2 Qtrs
Net Comprehensive Loss	`NetComprehensiveLoss`	$-487.76K	USD	1 Quarter
Net Comprehensive Loss	`NetComprehensiveLoss`	$-183.34K	USD	1 Quarter
Basic and diluted	`BasicAndDilutedLossPerCommonShare`	-	USD	1 Quarter
Basic and diluted	`BasicAndDilutedLossPerCommonShare`	$-0.04	USD	2 Qtrs
Basic and diluted	`BasicAndDilutedLossPerCommonShare`	-	USD	1 Quarter
Basic and diluted	`BasicAndDilutedLossPerCommonShare`	-	USD	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	374.31M	shares	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	362.82M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	360.02M	shares	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	374.31M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`ProfitLoss`	$-13.29M	USD	2 Qtrs
Net Income (loss)	`ProfitLoss`	$-199.90K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-12.85M	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-176.46K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-440.31K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-376.36K	USD	2 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$12.38M	USD	2 Qtrs
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	-	USD	2 Qtrs
Depreciation expense	`Depreciation`	$169.00	USD	2 Qtrs
Depreciation expense	`Depreciation`	$521.00	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	-	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$490.06K	USD	2 Qtrs
Amortization of discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$13.94K	USD	2 Qtrs
Loss on Settlement of Debt	`LossOnSettlementOfDebt`	$40.44K	USD	2 Qtrs
Loss on Settlement of Debt	`LossOnSettlementOfDebt`	-	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$142.41K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$88.34K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$10.13K	USD	2 Qtrs
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$11.48K	USD	2 Qtrs
Other Receivables	`IncreaseDecreaseInOtherReceivables`	$-1.92K	USD	2 Qtrs
Other Receivables	`IncreaseDecreaseInOtherReceivables`	$-2.09K	USD	2 Qtrs
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$195.30K	USD	2 Qtrs
Due to related parties	`IncreaseDecreaseInDueToRelatedPartiesCurrent`	$203.13K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-49.11K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-43.89K	USD	2 Qtrs
Cash paid for purchase of fixed assets	`CashPaidForPurchaseOfFixedAssets`	-	USD	2 Qtrs
Cash paid for purchase of fixed assets	`CashPaidForPurchaseOfFixedAssets`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$46.92K	USD	2 Qtrs
Due to Affiliates	`IncreaseDecreaseDueFromAffiliates`	-	USD	2 Qtrs
Due to Affiliates	`IncreaseDecreaseDueFromAffiliates`	$41.89K	USD	2 Qtrs
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	-	USD	2 Qtrs
Issuance of short term note payable, net of OID	`IssuanceOfShortTermNotePayable`	-	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$46.92K	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$41.89K	USD	2 Qtrs
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.49K	USD	2 Qtrs
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-2.65K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.49K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$468.00	USD	2 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.20K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.35K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.86K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.73K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$4.20K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$10.35K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$2.86K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$3.73K	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Settlement of Debt for Common Stock	`DebtDiscount`	$24.77K	USD	2 Qtrs
Settlement of Debt for Common Stock	`DebtDiscount`	-	USD	2 Qtrs

Stockholders Equity 32 line items

Line Item	Tag	Value	Unit	Period
Balance, December 31, 2021	`StockholdersEquity`	$3.26M	USD	Point-in-time
Balance, December 31, 2021	`StockholdersEquity`	$-4.41M	USD	Point-in-time
Balance, December 31, 2021	`StockholdersEquity`	$-4.29M	USD	Point-in-time
Balance, December 31, 2021	`StockholdersEquity`	$2.83M	USD	Point-in-time
Balance, December 31, 2021	`StockholdersEquity`	$2.35M	USD	Point-in-time
Balance, December 31, 2021	`StockholdersEquity`	$-4.04M	USD	Point-in-time
Shares issued in connection with the sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Shares issued in connection with the sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Shares issued in connection with the sale of common stock	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
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
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	-	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	-	USD	1 Quarter
Stock-based compensation expense	`StockGrantedDuringPeriodValueSharebasedCompensation`	-	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$16.57K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-9.25K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-47.46K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-74.45K	USD	1 Quarter
Net loss	`ProfitLoss`	$-13.29M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-199.90K	USD	1 Quarter
Net loss	`ProfitLoss`	$-12.85M	USD	1 Quarter
Net loss	`ProfitLoss`	$-176.46K	USD	1 Quarter
Net loss	`ProfitLoss`	$-440.31K	USD	1 Quarter
Net loss	`ProfitLoss`	$-376.36K	USD	2 Qtrs
Settlement of Notes	`SettlementOfNotes1`	$65.21K	USD	1 Quarter
Balance, March 31, 2022	`StockholdersEquity`	$3.26M	USD	Point-in-time
Balance, March 31, 2022	`StockholdersEquity`	$-4.41M	USD	Point-in-time
Balance, March 31, 2022	`StockholdersEquity`	$-4.29M	USD	Point-in-time
Balance, March 31, 2022	`StockholdersEquity`	$2.83M	USD	Point-in-time
Balance, March 31, 2022	`StockholdersEquity`	$2.35M	USD	Point-in-time
Balance, March 31, 2022	`StockholdersEquity`	$-4.04M	USD	Point-in-time
Beneficial conversion discount on convertible notes payable	`BeneficialConversionDiscountOnConvertibleNotesPayable`	-	USD	1 Quarter

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